Community Bank Mortgage Rates, Fees & Info

lexington, TN

LEI: 5493002HHKWZSFP7AI61

Tax ID: 62-1722861

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Community Bank is a smaller bank specializing in Home Purchase and Refi loans. Community Bank has a high proportion of conventional loans. Their top (well, only) market is Jackson.

    Community Bank has an average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

    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.

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    Originations

    86

    Origination Dollar Volume (All Markets)

    $10,510,000

    Top 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
    JACKSON, TN (FHA|USDA|VA) 42 $7,330,000 $174,524 $0 0.00%
    Outside of Metro Areas 44 $3,180,000 $72,273 $0 0.00%
    Community Bank's top markets include and Jackson among others.

    Their top states include:
  • Tennessee (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 86 $10,510,000 $122,209 $0 0.00%

    For 2019, Community Bank's most frequently originated type of loan was Conventional, with 86 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 46 $6,050,000 $131,522 $0 0.00%
    Refi 38 $4,420,000 $116,316 $0 0.00%
    Home Improvement 2 $40,000 $20,000 $0 0.00%

    For 2019, Community Bank's most frequently cited loan purpose was Home Purchase, with 46 originations. The 2nd most popular reason was Refi, with 38 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 86 $10,510,000 $122,209 $0 0.00%

    For 2019, Community Bank's most frequently cited loan duration was Other, with 86 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 53 $2,715,000 $51,226 $0 0.00%
    $100k-200k 26 $3,520,000 $135,385 $0 0.00%
    $200k-400k 3 $925,000 $308,333 $0 0.00%
    $600k-1MM 2 $1,610,000 $805,000 $0 0.00%
    $1MM+ 1 $1,315,000 $1,315,000 $0 0.00%
    $400k-600k 1 $425,000 $425,000 $0 0.00%

    2019 saw Community Bank place emphasis on $100,000 or less loans with 53 originations, totaling $2,715,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 28 $1,940,000 $69,286 $0 0.00%
    $50k-75k 12 $960,000 $80,000 $0 0.00%
    $100k-150k 9 $845,000 $93,889 $0 0.00%
    $75k-100k 5 $575,000 $115,000 $0 0.00%
    $150k-250k 4 $550,000 $137,500 $0 0.00%
    $250k+ 3 $515,000 $171,667 $0 0.00%

    Community Bank lent most frequently to those with incomes in the $50k or less range, with 28 originations. The second most popular income band? $50k-75k, with 12 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 86 $10,510,000 $122,209 $0 0.00%

    Community Bank lent most frequently to those with DTI ratios of Exempt%, with 86 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 56 $5,200,000 $92,857 $0 0.00%
    Not applicable 24 $5,080,000 $211,667 $0 0.00%
    Black 5 $165,000 $33,000 $0 0.00%
    Asian 1 $65,000 $65,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    89.69%

    Community Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    98.84%

    Community Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 86 $10,510,000 $122,209

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $45,000 $45,000
    Multifamily:Site-Built 4 $3,110,000 $777,500
    Single Family (1-4 Units):Manufactured 13 $695,000 $53,462
    Single Family (1-4 Units):Site-Built 68 $6,660,000 $97,941

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    COMMUNITY BANK SYSTEM, INC. Conventional home mortgage Closing on a mortgage 1 20.0%
    COMMUNITY BANK SYSTEM, INC. Conventional home mortgage Trouble during payment process 3 60.0%
    COMMUNITY BANK SYSTEM, INC. Home equity loan or line of credit (HELOC) Closing on a mortgage 1 20.0%