Commodore Bank Mortgage Rates, Fees & Info

Somerset, OH

LEI: 25490081ZRNCBNUFA124

Tax ID: 31-4264680

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Mortgage Data

Review & Overview

Commodore Bank is a smaller bank specializing in Home Purchase loans. Commodore Bank has a high proportion of conventional loans. Their top markets by origination volume include: Columbus, Bellefontaine, and Zanesville among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

Commodore Bank has an above average approval rate when compared to the average across all lenders.

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Originations

13

Origination Dollar Volume (All Markets)

$2,875,000

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market Originations Total Value Average Loan Average Fees Average Rate
COLUMBUS, OH (FHA|USDA|VA) 9 $2,405,000 $267,222 $0 0.00%
Outside of Metro Areas 1 $235,000 $235,000 $0 0.00%
Bellefontaine, OH (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
Zanesville, OH (FHA|USDA|VA) 2 $80,000 $40,000 $0 0.00%
Commodore Bank's top markets include Columbus, Bellefontaine, and Zanesville among others.

Their top states include:
  • Ohio (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Commodore Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 13 $2,875,000 $221,154 $0 0.00%

    For 2023, Commodore Bank's most frequently originated type of loan was Conventional, with 13 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 11 $2,745,000 $249,545 $0 0.00%
    Home Improvement 1 $45,000 $45,000 $0 0.00%
    Refi 1 $85,000 $85,000 $0 0.00%

    For 2023, Commodore Bank's most frequently cited loan purpose was Home Purchase, with 11 originations. The 2nd most popular reason was Home Improvement, with 1 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 13 $2,875,000 $221,154 $0 0.00%

    For 2023, Commodore Bank's most frequently cited loan duration was Other, with 13 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 5 $725,000 $145,000 $0 0.00%
    $100,000 or less 4 $230,000 $57,500 $0 0.00%
    $200k-400k 2 $490,000 $245,000 $0 0.00%
    $600k-1MM 2 $1,430,000 $715,000 $0 0.00%

    2023 saw Commodore Bank place emphasis on $100k-200k loans with 5 originations, totaling $725,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 5 $335,000 $67,000 $0 0.00%
    $100k-150k 2 $430,000 $215,000 $0 0.00%
    $150k-250k 1 $675,000 $675,000 $0 0.00%
    $250k+ 1 $755,000 $755,000 $0 0.00%
    $75k-100k 1 $105,000 $105,000 $0 0.00%

    Commodore Bank lent most frequently to those with incomes in the $50k-75k range, with 5 originations. The second most popular income band? $100k-150k, with 2 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 13 $2,875,000 $221,154 $0 0.00%

    Commodore Bank lent most frequently to those with DTI ratios of Exempt%, with 13 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 10 $2,300,000 $230,000 $0 0.00%
    Not applicable 3 $575,000 $191,667 $0 0.00%

    Approval Rates

    Total approvals of all applications
    100.00%

    Commodore Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 13 $2,875,000 $221,154

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    13 $2,875,000 $221,154