Commerce Home Mortgage Rates, Fees & Info

Sacramento, CA

LEI: 5493004AS1SPBQOFDR49

Tax ID: 68-0295876

2020 Data | 2019 Data | 2018 Data


Overview

Commerce Home Mortgage is a mid-sized mortgage company specializing in Refi and Home Purchase loans. Commerce Home Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Oakland, Los Angeles, Riverside, Anaheim, and Sacramento among others. They have an above average approval rate for mortages when compared nationally -- and they have a below average pick rate when compared to the same sample of other lendors. Commerce Home Mortgage is typically a high fee lendor.


Originations

18,654

Origination Dollar Volume (All Markets)

$7,037,900,000

Relative Rate

Commerce Home Mortgage 's average 30 year fixed rate mortgage was 3.21%.

The 2020 average 30 year fixed rate mortgage across all markets was 3.36%.

This yields a difference of -0.15%.

Relative Fees

Commerce Home Mortgage 's average total fees for a 30 year fixed rate mortgage are $6,103.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $5,021.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 13,379 $5,412,915,000 $404,583 $4,745 3.23%
FHA 3,333 $967,805,000 $290,371 $10,262 3.16%
VA 1,875 $638,675,000 $340,627 $6,450 2.84%
USDA 67 $18,505,000 $276,194 $7,373 2.77%

For the 2020 period, Commerce Home Mortgage 's most frequently originated loan type was Conventional, with 13,379 originations. Their 2nd most popular type is FHA, with 3,333 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 8,969 $3,540,425,000 $394,740 $4,469 3.04%
Home Purchase 6,612 $2,335,910,000 $353,283 $8,062 3.27%
Cash Out Refi 2,891 $1,087,125,000 $376,038 $5,665 3.38%
Home Improvement 182 $74,440,000 $409,011 $4,657 3.23%

For the 2020, Commerce Home Mortgage 's most frequently cited loan purpose was Refi, with 8,969 originations. The 2nd most popular reason was Home Purchase, with 6,612 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 17,055 $6,549,155,000 $384,002 $6,103 3.21%
15 Year 1,116 $330,220,000 $295,896 $3,991 2.73%
20 Year 346 $118,850,000 $343,497 $3,960 3.06%
Other 87 $26,685,000 $306,724 $4,757 3.03%
10 Year 50 $12,990,000 $259,800 $3,625 2.86%

For the 2020, Commerce Home Mortgage 's most frequently cited loan length was 30 Year, with 17,055 originations. The 2nd most popular length was 15 Year, with 1,116 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 9,110 $3,462,960,000 $380,127
$2k-3k 2,856 $926,660,000 $324,461
$<1k 2,548 $907,620,000 $356,209
$3k-4k 2,190 $759,820,000 $346,950
$5k+ 1,939 $973,975,000 $502,308

$6,103 was Commerce Home Mortgage 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 9,110 originations.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
OAKLAND-BERKELEY-LIVERMORE, CA 2,387 $1,275,775,000 $534,468 $5,600 3.23%
LOS ANGELES-LONG BEACH-GLENDALE, CA 1,878 $967,780,000 $515,325 $6,293 3.24%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 1,443 $486,415,000 $337,086 $6,684 3.16%
ANAHEIM-SANTA ANA-IRVINE, CA 849 $414,505,000 $488,227 $4,746 3.17%
SACRAMENTO-ROSEVILLE-FOLSOM, CA 957 $344,815,000 $360,308 $5,804 3.07%
DENVER-AURORA-LAKEWOOD, CO 725 $269,075,000 $371,138 $5,473 3.11%
REDDING, CA 971 $251,215,000 $258,718 $5,530 3.30%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 605 $225,015,000 $371,926 $6,539 3.13%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 506 $218,200,000 $431,225 $5,564 3.09%
Outside of Metro Areas 712 $204,520,000 $287,247 $5,703 3.12%
EL PASO, TX 1,034 $178,670,000 $172,795 $7,366 3.28%
CHICO, CA 597 $158,385,000 $265,302 $5,891 3.10%
VISALIA, CA 597 $154,615,000 $258,987 $5,037 3.13%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 267 $150,625,000 $564,139 $5,515 3.21%
BOULDER, CO 320 $137,890,000 $430,906 $3,950 3.16%
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 165 $107,045,000 $648,758 $6,408 3.32%
PHOENIX-MESA-CHANDLER, AZ 348 $97,810,000 $281,063 $5,689 3.07%
VALLEJO, CA 234 $94,460,000 $403,675 $7,612 3.19%
STOCKTON, CA 242 $83,070,000 $343,264 $6,421 3.13%
SANTA CRUZ-WATSONVILLE, CA 133 $78,095,000 $587,180 $5,058 3.40%
MODESTO, CA 253 $72,985,000 $288,478 $5,924 3.03%
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 203 $65,865,000 $324,458 $6,649 3.23%
OXNARD-THOUSAND OAKS-VENTURA, CA 123 $59,655,000 $485,000 $5,716 3.10%
ALBUQUERQUE, NM 281 $55,785,000 $198,523 $6,063 3.39%
FORT COLLINS, CO 157 $52,995,000 $337,548 $4,486 3.29%
RENO, NV 141 $45,025,000 $319,326 $5,102 3.20%
FRESNO, CA 136 $41,270,000 $303,456 $5,583 3.16%
SEATTLE-BELLEVUE-KENT, WA 98 $40,440,000 $412,653 $5,344 3.07%
BEND, OR 111 $39,645,000 $357,162 $6,239 3.15%
GREELEY, CO 93 $33,985,000 $365,430 $4,684 3.31%
SALEM, OR 118 $33,950,000 $287,712 $5,927 3.06%
SAN RAFAEL, CA 44 $32,390,000 $736,136 $7,073 3.37%
ORLANDO-KISSIMMEE-SANFORD, FL 111 $28,545,000 $257,162 $8,003 3.45%
TAMPA-ST. PETERSBURG-CLEARWATER, FL 96 $26,370,000 $274,688 $7,849 2.99%
COLORADO SPRINGS, CO 80 $24,930,000 $311,625 $5,033 2.88%
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 56 $23,370,000 $417,321 $7,761 3.04%
TACOMA-LAKEWOOD, WA 69 $23,105,000 $334,855 $5,352 3.19%
SAN LUIS OBISPO-PASO ROBLES, CA 51 $21,645,000 $424,412 $4,208 3.03%
SALINAS, CA 37 $20,055,000 $542,027 $5,701 3.62%
YUBA CITY, CA 67 $19,425,000 $289,925 $6,653 3.15%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 69 $18,995,000 $275,290 $8,624 2.92%
LAS VEGAS-HENDERSON-PARADISE, NV 63 $18,625,000 $295,635 $4,918 3.07%
SANTA ROSA-PETALUMA, CA 40 $17,010,000 $425,250 $5,270 3.05%
MIAMI-MIAMI BEACH-KENDALL, FL 56 $16,820,000 $300,357 $7,060 3.21%
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 50 $16,120,000 $322,400 $7,276 3.21%
NAPA, CA 29 $14,815,000 $510,862 $6,414 3.20%
BAKERSFIELD, CA 57 $13,605,000 $238,684 $5,579 3.11%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 55 $13,375,000 $243,182 $4,021 2.88%
SANTA FE, NM 48 $13,330,000 $277,708 $5,432 3.56%
SANTA MARIA-SANTA BARBARA, CA 26 $12,560,000 $483,077 $5,931 3.03%
DALLAS-PLANO-IRVING, TX 43 $11,705,000 $272,209 $6,001 3.08%
MERCED, CA 36 $10,090,000 $280,278 $7,042 3.13%
PORT ST. LUCIE, FL 33 $9,415,000 $285,303 $8,581 3.38%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 38 $8,520,000 $224,211 $5,106 2.85%
JACKSONVILLE, FL 33 $8,305,000 $251,667 $5,489 3.00%
AUSTIN-ROUND ROCK-GEORGETOWN, TX 31 $8,295,000 $267,581 $6,842 2.96%
EL CENTRO, CA 33 $8,185,000 $248,030 $7,571 3.11%
OLYMPIA-LACEY-TUMWATER, WA 24 $7,570,000 $315,417 $5,375 3.21%
ALBANY-LEBANON, OR 25 $7,345,000 $293,800 $6,774 3.25%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 30 $7,240,000 $241,333 $7,027 3.25%
LAKELAND-WINTER HAVEN, FL 31 $6,575,000 $212,097 $7,672 3.37%
SAN ANTONIO-NEW BRAUNFELS, TX 26 $6,360,000 $244,615 $5,849 3.17%
LAKE HAVASU CITY-KINGMAN, AZ 20 $5,090,000 $254,500 $4,238 2.92%
BREMERTON-SILVERDALE-PORT ORCHARD, WA 12 $4,720,000 $393,333 $5,160 3.17%
BALTIMORE-COLUMBIA-TOWSON, MD 16 $4,480,000 $280,000 $5,788 2.77%
PALM BAY-MELBOURNE-TITUSVILLE, FL 18 $4,380,000 $243,333 $4,958 3.21%
COEUR D'ALENE, ID 8 $4,200,000 $525,000 $5,691 4.27%
TUCSON, AZ 17 $4,105,000 $241,471 $3,987 2.85%
NORTH PORT-SARASOTA-BRADENTON, FL 16 $4,020,000 $251,250 $5,436 2.98%
HANFORD-CORCORAN, CA 16 $3,930,000 $245,625 $6,210 3.09%
RICHMOND, VA 16 $3,670,000 $229,375 $4,695 2.98%
CAPE CORAL-FORT MYERS, FL 14 $3,470,000 $247,857 $7,805 3.26%
FORT WORTH-ARLINGTON-GRAPEVINE, TX 13 $3,365,000 $258,846 $7,673 3.23%
LAS CRUCES, NM 16 $3,350,000 $209,375 $7,287 3.36%
PROVO-OREM, UT 11 $3,345,000 $304,091 $4,533 2.94%
SALT LAKE CITY, UT 9 $2,905,000 $322,778 $5,074 2.92%
MADERA, CA 10 $2,700,000 $270,000 $6,925 2.81%
SPOKANE-SPOKANE VALLEY, WA 11 $2,695,000 $245,000 $4,315 2.78%
KILLEEN-TEMPLE, TX 13 $2,695,000 $207,308 $7,481 2.79%
EUGENE-SPRINGFIELD, OR 9 $2,565,000 $285,000 $4,032 3.32%
FREDERICK-GAITHERSBURG-ROCKVILLE, MD 8 $2,560,000 $320,000 $5,796 2.81%
PRESCOTT VALLEY-PRESCOTT, AZ 10 $2,550,000 $255,000 $3,341 3.16%
GRAND JUNCTION, CO 11 $2,395,000 $217,727 $4,760 3.16%
PENSACOLA-FERRY PASS-BRENT, FL 10 $2,330,000 $233,000 $5,257 2.83%
SAVANNAH, GA 10 $2,320,000 $232,000 $4,033 2.81%
KENNEWICK-RICHLAND, WA 9 $2,295,000 $255,000 $5,163 3.40%
CARSON CITY, NV 6 $2,230,000 $371,667 $4,733 3.10%
BOISE CITY, ID 9 $2,175,000 $241,667 $5,071 3.40%
MEDFORD, OR 9 $2,055,000 $228,333 $4,743 3.22%
OGDEN-CLEARFIELD, UT 6 $1,840,000 $306,667 $5,279 3.00%
MIDLAND, TX 7 $1,695,000 $242,143 $8,454 3.27%
CHARLOTTESVILLE, VA 5 $1,685,000 $337,000 $5,932 2.70%
GRANTS PASS, OR 5 $1,685,000 $337,000 $6,480 3.10%
OCALA, FL 8 $1,650,000 $206,250 $6,191 3.52%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 6 $1,450,000 $241,667 $3,975 2.77%
MCALLEN-EDINBURG-MISSION, TX 6 $1,430,000 $238,333 $4,983 2.65%
BELLINGHAM, WA 4 $1,200,000 $300,000 $2,501 3.06%
CORVALLIS, OR 4 $1,140,000 $285,000 $4,014 2.53%
HINESVILLE, GA 5 $1,105,000 $221,000 $5,035 2.55%
WENATCHEE, WA 3 $1,035,000 $345,000 $5,161 3.21%
PUEBLO, CO 4 $960,000 $240,000 $5,316 2.81%
FLAGSTAFF, AZ 3 $955,000 $318,333 $5,770 3.50%
PUNTA GORDA, FL 5 $915,000 $183,000 $8,632 3.18%
ST. GEORGE, UT 2 $910,000 $455,000 $6,434 3.18%
YAKIMA, WA 3 $855,000 $285,000 $6,259 3.25%
GAINESVILLE, GA 3 $845,000 $281,667 $5,599 3.25%
NAPLES-MARCO ISLAND, FL 3 $825,000 $275,000 $6,350 3.50%
SEBASTIAN-VERO BEACH, FL 4 $800,000 $200,000 $6,691 3.28%
CORPUS CHRISTI, TX 4 $750,000 $187,500 $7,143 3.25%
YUMA, AZ 4 $730,000 $182,500 $3,403 2.75%
WALLA WALLA, WA 2 $710,000 $355,000 $3,736 3.00%
ODESSA, TX 4 $670,000 $167,500 $6,403 3.94%
ROANOKE, VA 3 $635,000 $211,667 $2,765 3.00%
HOMOSASSA SPRINGS, FL 3 $595,000 $198,333 $4,136 3.21%
IDAHO FALLS, ID 3 $595,000 $198,333 $3,373 3.00%
WACO, TX 3 $585,000 $195,000 $4,850 3.67%
GAINESVILLE, FL 2 $560,000 $280,000 $6,706 2.75%
AMARILLO, TX 3 $515,000 $171,667 $5,585 2.88%
TALLAHASSEE, FL 3 $505,000 $168,333 $2,585 3.42%
NEW ORLEANS-METAIRIE, LA 3 $505,000 $168,333 $3,406 3.25%
POCATELLO, ID 2 $500,000 $250,000 $5,873 2.87%
BROWNSVILLE-HARLINGEN, TX 3 $475,000 $158,333 $7,080 3.29%
COLLEGE STATION-BRYAN, TX 2 $470,000 $235,000 $9,765 3.43%
CHATTANOOGA, TN-GA 2 $470,000 $235,000 $4,016 2.75%
HARRISONBURG, VA 1 $455,000 $455,000 $1,389 2.25%
TWIN FALLS, ID 2 $450,000 $225,000 $3,869 3.38%
TYLER, TX 2 $430,000 $215,000 $5,550 2.75%
ALBANY, GA 1 $425,000 $425,000 $6,767 2.25%
LYNCHBURG, VA 2 $410,000 $205,000 $3,438 2.75%
WILMINGTON, DE-MD-NJ 1 $395,000 $395,000 $6,125 2.75%
HAGERSTOWN-MARTINSBURG, MD-WV 1 $375,000 $375,000 $2,931 3.25%
WARNER ROBINS, GA 1 $335,000 $335,000 $2,854 2.25%
LUBBOCK, TX 1 $335,000 $335,000 $6,287 3.25%
THE VILLAGES, FL 1 $325,000 $325,000 $3,723 2.75%
WINCHESTER, VA-WV 1 $305,000 $305,000 $6,795 2.75%
COLUMBUS, GA-AL 2 $300,000 $150,000 $3,352 2.63%
MACON-BIBB COUNTY, GA 1 $295,000 $295,000 $9,273 3.75%
LAFAYETTE, LA 1 $295,000 $295,000 $6,499 2.25%
ABILENE, TX 2 $250,000 $125,000 $3,378 2.94%
PANAMA CITY, FL 1 $235,000 $235,000 $9,486 3.50%
BEAUMONT-PORT ARTHUR, TX 1 $235,000 $235,000 $4,159 2.50%
SEBRING-AVON PARK, FL 1 $185,000 $185,000 $2,719 3.50%
SHREVEPORT-BOSSIER CITY, LA 1 $185,000 $185,000 $5,034 2.25%
SALISBURY, MD-DE 1 $175,000 $175,000 $2,242 3.25%
ROME, GA 1 $175,000 $175,000 $2,323 3.25%
AUGUSTA-RICHMOND COUNTY, GA-SC 1 $165,000 $165,000 $3,197 2.75%
DALTON, GA 1 $145,000 $145,000 $3,698 2.75%

Commerce Home Mortgage 's top markets include Oakland, Los Angeles, Riverside, Anaheim, and Sacramento among others.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 8,376 $3,139,690,000 $374,844
3-4% 8,001 $3,039,355,000 $379,872
<2.5% 1,234 $396,900,000 $321,637
4-5% 742 $274,640,000 $370,135
5-6% 219 $125,315,000 $572,215
6-7% 65 $47,015,000 $723,308
7-8% 16 $14,380,000 $898,750
Over 8% 1 $605,000 $605,000

During 2020, Commerce Home Mortgage 's average interest rate was 3.21%, while their most frequently originated rate bucket was 2.5-3%, with 8,376 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 8,829 $2,625,865,000 $297,414 $5,743 3.12%
$400k-600k 4,966 $2,379,840,000 $479,227 $6,129 3.14%
$100k-200k 2,735 $436,435,000 $159,574 $5,117 3.26%
$600k-1MM 1,640 $1,181,530,000 $720,445 $7,215 3.33%
$1MM+ 290 $403,540,000 $1,391,517 $10,862 3.89%
$100,000 or less 194 $10,690,000 $55,103 $2,797 3.35%

2020 saw Commerce Home Mortgage place emphasis on $200k-400k loans with 8,829 originations, totaling $2,625,865,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 4,313 $1,696,305,000 $393,300 $5,891 3.17%
$150k-250k 3,435 $1,624,735,000 $472,994 $5,448 3.20%
$50k-75k 3,026 $766,680,000 $253,364 $6,239 3.17%
$75k-100k 3,024 $981,890,000 $324,699 $6,425 3.14%
$250k+ 1,598 $1,016,710,000 $636,239 $5,917 3.26%
$50k or less 1,349 $239,655,000 $177,654 $5,721 3.21%

Commerce Home Mortgage lent most frequently to those with incomes in the $100k-150k range, with 4,313 originations. The second most popular income band? $150k-250k, with 3,435 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 3,372 $1,331,730,000 $394,938 $4,791 3.12%
30-36% 2,969 $1,179,005,000 $397,105 $5,510 3.17%
<20% 1,217 $442,525,000 $363,620 $4,075 3.08%
50-60% 1,039 $318,855,000 $306,886 $10,220 3.18%
44% 783 $286,945,000 $366,469 $6,390 3.28%
42% 705 $273,375,000 $387,766 $6,439 3.23%
39% 650 $250,610,000 $385,554 $6,199 3.21%
43% 648 $227,540,000 $351,142 $6,067 3.22%
41% 641 $247,495,000 $386,108 $6,354 3.22%
38% 603 $235,695,000 $390,871 $6,274 3.22%
49% 599 $214,995,000 $358,923 $6,606 3.15%
40% 599 $235,875,000 $393,781 $5,825 3.21%
37% 558 $216,470,000 $387,939 $6,195 3.20%
36% 550 $214,340,000 $389,709 $5,731 3.23%
47% 516 $193,510,000 $375,019 $6,757 3.24%
45% 508 $185,040,000 $364,252 $6,394 3.18%
48% 486 $172,890,000 $355,741 $6,613 3.19%
46% 480 $163,350,000 $340,313 $6,237 3.23%
>60% 18 $6,980,000 $387,778 $9,229 3.18%

Commerce Home Mortgage lent most frequently to those with DTI ratios of 20-30%, with 3,372 originations. The next most common DTI ratio? 30-36%, with 2,969 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 14,781 $5,526,325,000 $373,880 $5,816 3.19%
Asian 1,421 $637,085,000 $448,336 $6,035 3.22%
Not provided 1,288 $459,490,000 $356,747 $5,791 3.02%
Black 810 $289,430,000 $357,321 $7,475 3.15%
American Indian 194 $66,560,000 $343,093 $6,706 3.14%
Native Hawaiian 147 $53,185,000 $361,803 $7,061 3.18%
Asian Indian 6 $2,870,000 $478,333 $5,195 2.83%
Filipino 3 $1,325,000 $441,667 $7,266 3.04%
Other Asian 2 $870,000 $435,000 $5,060 2.63%
Samoan 1 $405,000 $405,000 $5,480 2.75%
Japanese 1 $355,000 $355,000 $3,462 2.88%

Approval Rates

Total approvals of all applications
97.86%

Commerce Home Mortgage 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
68.81%

Commerce Home Mortgage has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

Points and Fees

Points Originations Total Value Average Loan
NA 18,654 $7,037,900,000 $377,286

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
Single Family (1-4 Units):Manufactured 243 $55,155,000 $226,975
Single Family (1-4 Units):Site-Built 18,411 $6,982,745,000 $379,270

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 1,262 $418,350,000 $331,498 $4,010 3.04%
40-60% 3,608 $1,466,930,000 $406,577 $4,204 3.11%
60-80% 5,896 $2,499,450,000 $423,923 $5,124 3.30%
80-100% 6,907 $2,344,415,000 $339,426 $7,492 3.16%
Over 100% 360 $126,530,000 $351,472 $11,111 2.90%
Under 20% 204 $41,960,000 $205,686 $2,742 3.07%