Commercial Lender Mortgage Rates, Fees & Info
Lewes, DELEI: 254900Y6EUNN0KGMJW67
Tax ID: 32-0541903
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Commercial Lender is a smaller mortgage company specializing in Home Improvement and Cash Out Refi loans. Commercial Lender has a high proportion of conventional loans.Commercial Lender has an above average approval rate when compared to the average across all lenders. They typically have relatively high rates.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 11/21/24 |
| 30 Year Conventional Refi | 6.27% | 11/21/24 |
| 30 Year Cash-out Refi | 6.27% | 11/21/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Commercial Lender Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Commercial Lender. It uses our SimulatedRate™
technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.
The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,090Origination Dollar Volume (All Markets)
$251,650,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 1,090 | $251,650,000 | $230,872 | $0 | 8.32% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 1,090 | $251,650,000 | $230,872 | $0 | 8.32% |
For 2020, Commercial Lender's most frequently originated type of loan was Conventional, with 1,090 originations.
Loan Reason
For 2020, Commercial Lender's most frequently cited loan purpose was Home Improvement, with 493 originations. The 2nd most popular reason was Cash Out Refi, with 270 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 1 Year | 562 | $135,030,000 | $240,267 | $0 | 10.10% |
| 30 Year | 518 | $111,840,000 | $215,907 | $0 | 6.36% |
| Other | 10 | $4,780,000 | $478,000 | $0 | 9.70% |
For 2020, Commercial Lender's most frequently cited loan duration was 1 Year, with 562 originations. The 2nd most popular length was 30 Year, with 518 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 563 | $135,305,000 | $240,329 |
| 6-7% | 348 | $73,860,000 | $212,241 |
| 5-6% | 100 | $23,350,000 | $233,500 |
| 7-8% | 55 | $12,285,000 | $223,364 |
| 4-5% | 24 | $6,850,000 | $285,417 |
During 2020, Commercial Lender's average interest rate for loans was 6.36%, while their most frequently originated rate bucket for loans was Over 8%, with 563 originations.
Loan Sizing
2020 saw Commercial Lender place emphasis on $100k-200k loans with 501 originations, totaling $71,135,000 in origination value.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 1,090 | $251,650,000 | $230,872 | $0 | 8.32% |
Approval Rates
Total approvals of all applications100.00%
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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,090 | $251,650,000 | $230,872 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 1 | $145,000 | $145,000 |
| Single Family (1-4 Units):Site-Built | 1,089 | $251,505,000 | $230,950 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| COMMERCE BANK | Conventional home mortgage | Closing on a mortgage | 2 | 66.7% |
| COMMERCE BANK | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 33.3% |