Commercial Lender Mortgage Rates, Fees & Info

Lewes, DE

LEI: 254900Y6EUNN0KGMJW67

Tax ID: 32-0541903

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Commercial Lender is a smaller mortgage company specializing in Home Improvement loans. Commercial Lender has a high proportion of conventional loans. Their top markets include Commercial Lender has an above average approval rate for mortages when compared nationally.


Originations

1,296

Origination Dollar Volume (All Markets)

$320,110,000

Relative Rate

Commercial Lender 's average 30 year fixed rate mortgage of loans were 5.64%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 2.49%.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Outside of Metro Areas 1,296 $320,110,000 $246,998 $0 8.46%

Commercial Lender 's top markets include

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,296 $320,110,000 $246,998 $0 8.46%

For the 2021 period, Commercial Lender 's most frequently originated loan type of loans were Conventional, with 1,296 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Improvement 842 $220,110,000 $261,413 $0 9.64%
Cash Out Refi 198 $40,630,000 $205,202 $0 5.65%
Home Purchase 188 $46,790,000 $248,883 $0 7.20%
Refi 61 $11,465,000 $187,951 $0 5.62%
Other 7 $1,115,000 $159,286 $0 5.29%

For the 2021, Commercial Lender 's most frequently cited loan purpose of loans were Home Improvement, with 842 originations. The 2nd most popular reason of loans were Cash Out Refi, with 198 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
1 Year 890 $229,260,000 $257,596 $0 9.67%
30 Year 385 $77,905,000 $202,351 $0 5.64%
Other 21 $12,945,000 $616,429 $0 8.92%

For the 2021, Commercial Lender 's most frequently cited loan length of loans were 1 Year, with 890 originations. The 2nd most popular length of loans were 30 Year, with 385 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
Over 8% 877 $211,685,000 $241,374
5-6% 142 $24,710,000 $174,014
6-7% 119 $20,635,000 $173,403
4-5% 85 $20,945,000 $246,412
7-8% 52 $34,470,000 $662,885
3-4% 21 $7,665,000 $365,000

During 2021, Commercial Lender 's average interest rate of loans were 5.64%, while their most frequently originated rate bucket of loans were Over 8%, with 877 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 614 $89,930,000 $146,466 $0 8.37%
$200k-400k 382 $102,910,000 $269,398 $0 8.75%
$100,000 or less 163 $13,545,000 $83,098 $0 8.30%
$400k-600k 74 $35,750,000 $483,108 $0 8.65%
$600k-1MM 34 $25,680,000 $755,294 $0 7.96%
$1MM+ 29 $52,295,000 $1,803,276 $0 7.62%

2021 saw Commercial Lender place emphasis on $100k-200k loans with 614 originations, totaling $89,930,000 in origination value.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Not applicable 1,296 $320,110,000 $246,998 $0 8.46%

Approval Rates

Total approvals of all applications
100.00%

Commercial Lender 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
NA 1,296 $320,110,000 $246,998

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,296 $320,110,000 $246,998

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
40-60% 22 $8,170,000 $371,364 $0 10.18%
60-80% 183 $45,165,000 $246,803 $0 8.29%
80-100% 276 $70,270,000 $254,601 $0 9.49%
Over 100% 442 $119,420,000 $270,181 $0 9.51%
Under 20% 1 $535,000 $535,000 $0 8.99%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
COMMERCE BANK Conventional home mortgage Closing on a mortgage 1 33.3%
COMMERCE BANK Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 33.3%
COMMERCE BANK FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 33.3%