Commodore Bank Mortgage Rates, Fees & Info
Somerset, OHLEI: 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
13Origination Dollar Volume (All Markets)
$2,875,000Top 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% |
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
2023 saw Commodore Bank place emphasis on $100k-200k loans with 5 originations, totaling $725,000 in origination value.
Applicant Income
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 applications100.00%
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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 13 | $2,875,000 | $221,154 |