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, San Antonio, and Dallas among others. We have data for 11 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 a below average pick rate when compared to similar lenders.
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Originations
123Origination Dollar Volume (All Markets)
$28,335,000Top 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) | 86 | $18,950,000 | $220,349 | $0 | 0.00% |
| Hobbs, NM (FHA|USDA|VA) | 15 | $2,865,000 | $191,000 | $0 | 0.00% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 8 | $1,580,000 | $197,500 | $0 | 0.00% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $1,525,000 | $1,525,000 | $0 | 0.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 2 | $1,460,000 | $730,000 | $0 | 0.00% |
| LUBBOCK, TX (FHA|USDA|VA) | 5 | $855,000 | $171,000 | $0 | 0.00% |
| Roswell, NM (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $0 | 0.00% |
| Clovis, NM (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $195,000 | $195,000 | $0 | 0.00% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| Alamogordo, NM (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 96 | $21,750,000 | $226,563 | $0 | 0.00% |
| FHA | 27 | $6,585,000 | $243,889 | $0 | 0.00% |
For 2022, Western Commerce Bank's most frequently originated type of loan was Conventional, with 96 originations. Their 2nd most popular type was FHA, with 27 originations.
Loan Reason
For 2022, Western Commerce Bank's most frequently cited loan purpose was Home Purchase, with 102 originations. The 2nd most popular reason was Refi, with 16 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 123 | $28,335,000 | $230,366 | $0 | 0.00% |
For 2022, Western Commerce Bank's most frequently cited loan duration was Other, with 123 originations.
Loan Sizing
2022 saw Western Commerce Bank place emphasis on $200k-400k loans with 48 originations, totaling $13,710,000 in origination value.
Applicant Income
Western Commerce Bank lent most frequently to those with incomes in the $75k-100k range, with 24 originations. The second most popular income band? $100k-150k, with 22 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 123 | $28,335,000 | $230,366 | $0 | 0.00% |
Western Commerce Bank lent most frequently to those with DTI ratios of Exempt%, with 123 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.24%
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 origination86.18%
Western Commerce Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 123 | $28,335,000 | $230,366 |