Western Commerce Bank Mortgage Rates, Fees & Info
Carlsbad, NMLEI: 5493001SP13TNR6TUJ97
Tax ID: 85-0158799
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Mortgage Data
Review & Overview
Western Commerce Bank is a smaller bank specializing in Home Purchase loans. Western Commerce Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Carlsbad, Hobbs, Albuquerque, Lubbock, and Midland among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Western Commerce Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
86Origination Dollar Volume (All Markets)
$21,830,000Top 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 |
|---|---|---|---|---|---|
| Carlsbad-Artesia, NM (FHA|USDA|VA) | 61 | $14,425,000 | $236,475 | $0 | 0.00% |
| Hobbs, NM (FHA|USDA|VA) | 15 | $2,765,000 | $184,333 | $0 | 0.00% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 3 | $2,195,000 | $731,667 | $0 | 0.00% |
| LUBBOCK, TX (FHA|USDA|VA) | 2 | $860,000 | $430,000 | $0 | 0.00% |
| MIDLAND, TX (FHA|USDA|VA) | 2 | $780,000 | $390,000 | $0 | 0.00% |
| Ruidoso, NM (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $0 | 0.00% |
| Alamogordo, NM (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 0.00% |
| Clovis, NM (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 74 | $18,660,000 | $252,162 | $0 | 0.00% |
| FHA | 11 | $2,795,000 | $254,091 | $0 | 0.00% |
| VA | 1 | $375,000 | $375,000 | $0 | 0.00% |
For 2023, Western Commerce Bank's most frequently originated type of loan was Conventional, with 74 originations. Their 2nd most popular type was FHA, with 11 originations.
Loan Reason
For 2023, Western Commerce Bank's most frequently cited loan purpose was Home Purchase, with 68 originations. The 2nd most popular reason was Other, with 9 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 86 | $21,830,000 | $253,837 | $0 | 0.00% |
For 2023, Western Commerce Bank's most frequently cited loan duration was Other, with 86 originations.
Loan Sizing
2023 saw Western Commerce Bank place emphasis on $200k-400k loans with 34 originations, totaling $10,640,000 in origination value.
Applicant Income
Western Commerce Bank lent most frequently to those with incomes in the $150k-250k range, with 20 originations. The second most popular income band? $100k-150k, with 17 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 86 | $21,830,000 | $253,837 | $0 | 0.00% |
Western Commerce Bank lent most frequently to those with DTI ratios of Exempt%, with 86 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.92%
Western Commerce 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 origination90.70%
Western Commerce Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 86 | $21,830,000 | $253,837 |