Community Bank Mortgage Rates, Fees & Info

Canton, NY

LEI: 5493005RDTT7HVODH436

Tax ID: 15-0436580

5 stars - Updated: 5/27/24 - out of 5 stars, based on 73 reviews

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

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Mortgage Data

Review & Overview

Community Bank is a smaller bank specializing in Home Purchase loans. Community Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Scranton, Syracuse, Buffalo, Rochester, and Watertown among others. We have data for 57 markets. (Some data included below & more in-depth data is available with an active subscription.)

Community Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Community Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) 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
Home Equity Line of Credit (HELOC) 1.53% 5/27/24
30 Year Conventional Purchase 6.75% 5/27/24
30 Year Conventional Refi 6.63% 5/27/24
30 Year Cash-out Refi 6.02% 5/27/24
30 Year FHA Purchase 7.13% 5/27/24
30 Year VA Purchase 6.39% 5/27/24
30 Year USDA Purchase 6.74% 5/27/24
15 Year Conventional Purchase 6.33% 5/27/24
15 Year Conventional Refi 6.20% 5/27/24
15 Year Cash-out Refi 6.20% 5/27/24
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.

Community Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Community Bank. 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

5,388

Origination Dollar Volume (All Markets)

$830,210,000
Show all (28) awards

Relative Rate

Community Bank's average 30 year fixed mortgage rate was 5.6%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.88%.

Relative Fees (Closing Costs)

Community Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $742.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
Outside of Metro Areas 801 $99,195,000 $123,839 $409 6.28%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 470 $87,980,000 $187,191 $505 6.70%
SYRACUSE, NY (FHA|USDA|VA) 359 $59,095,000 $164,610 $619 6.34%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 189 $47,905,000 $253,466 $333 6.29%
ROCHESTER, NY (FHA|USDA|VA) 420 $45,900,000 $109,286 $379 5.92%
WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 208 $39,420,000 $189,519 $466 6.13%
Plattsburgh, NY (FHA|USDA|VA) 243 $39,285,000 $161,667 $673 6.65%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 148 $37,480,000 $253,243 $1,454 6.52%
BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) 140 $34,700,000 $247,857 $437 4.71%
Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) 325 $33,845,000 $104,138 $283 6.40%
UTICA-ROME, NY (FHA|USDA|VA) 236 $31,820,000 $134,831 $637 6.55%
ITHACA, NY (FHA|USDA|VA) 121 $26,665,000 $220,372 $2,223 6.06%
Ogdensburg-Massena, NY (FHA|USDA|VA) 200 $19,770,000 $98,850 $407 6.67%
Corning, NY (FHA|USDA|VA) 160 $19,150,000 $119,688 $475 6.34%
Olean, NY (FHA|USDA|VA) 206 $19,060,000 $92,524 $230 6.81%
Oneonta, NY (FHA|USDA|VA) 134 $17,490,000 $130,522 $732 5.66%
Concord, NH (FHA|USDA|VA) 1 $17,305,000 $17,305,000 $0 6.50%
Malone, NY (FHA|USDA|VA) 123 $14,965,000 $121,667 $554 6.13%
Rutland, VT (FHA|USDA|VA) 91 $14,415,000 $158,407 $274 5.00%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $13,175,000 $13,175,000 $0 5.33%
ELMIRA, NY (FHA|USDA|VA) 115 $12,235,000 $106,391 $687 6.21%
BINGHAMTON, NY (FHA|USDA|VA) 97 $11,815,000 $121,804 $503 6.80%
Gloversville, NY (FHA|USDA|VA) 78 $11,040,000 $141,538 $758 6.55%
Amsterdam, NY (FHA|USDA|VA) 45 $9,085,000 $201,889 $425 6.78%
Auburn, NY (FHA|USDA|VA) 58 $6,980,000 $120,345 $749 6.68%
Seneca Falls, NY (FHA|USDA|VA) 64 $6,220,000 $97,188 $191 5.98%
GLENS FALLS, NY (FHA|USDA|VA) 29 $5,815,000 $200,517 $1,441 6.86%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 43 $5,325,000 $123,837 $491 6.69%
Lebanon, NH-VT (FHA|USDA|VA) 49 $5,255,000 $107,245 $11 5.27%
SPRINGFIELD, MA (FHA|USDA|VA) 26 $5,210,000 $200,385 $69 6.08%
EAST STROUDSBURG, PA (FHA|USDA|VA) 11 $4,725,000 $429,545 $2,584 7.06%
Sayre, PA (FHA|USDA|VA) 38 $4,640,000 $122,105 $471 7.23%
Hudson, NY (FHA|USDA|VA) 28 $4,150,000 $148,214 $945 4.15%
Barre, VT (FHA|USDA|VA) 26 $3,770,000 $145,000 $475 4.96%
Bennington, VT (FHA|USDA|VA) 16 $2,260,000 $141,250 $285 5.23%
Cortland, NY (FHA|USDA|VA) 21 $2,195,000 $104,524 $829 6.30%
KINGSTON, NY (FHA|USDA|VA) 7 $1,225,000 $175,000 $2,060 5.25%
Batavia, NY (FHA|USDA|VA) 7 $1,085,000 $155,000 $818 7.32%
Pottsville, PA (FHA|USDA|VA) 13 $1,085,000 $83,462 $303 7.12%
WORCESTER, MA-CT (FHA|USDA|VA) 4 $910,000 $227,500 $25 6.75%
Warren, PA (FHA|USDA|VA) 6 $890,000 $148,333 $1,473 7.23%
Bradford, PA (FHA|USDA|VA) 8 $740,000 $92,500 $769 7.22%
Lewisburg, PA (FHA|USDA|VA) 1 $675,000 $675,000 $5,555 5.88%
ERIE, PA (FHA|USDA|VA) 5 $625,000 $125,000 $1,007 4.10%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $595,000 $595,000 $5,248 6.13%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $585,000 $585,000 $44 6.75%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $575,000 $575,000 $4,818 6.75%
PITTSFIELD, MA (FHA|USDA|VA) 3 $455,000 $151,667 $0 7.97%
Keene, NH (FHA|USDA|VA) 2 $360,000 $180,000 $7 3.50%
YORK-HANOVER, PA (FHA|USDA|VA) 2 $230,000 $115,000 $113 7.56%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $225,000 $225,000 $0 7.00%
Meadville, PA (FHA|USDA|VA) 1 $205,000 $205,000 $0 6.75%
BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 1 $125,000 $125,000 $2,430 5.63%
Sunbury, PA (FHA|USDA|VA) 1 $85,000 $85,000 $2,462 7.88%
St. Marys, PA (FHA|USDA|VA) 1 $85,000 $85,000 $0 6.75%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $65,000 $65,000 $0 8.25%
Berlin, NH (FHA|USDA|VA) 1 $45,000 $45,000 $38 5.88%
Community Bank's top markets include Scranton, Syracuse, Buffalo, Rochester, and Watertown among others.

Their top states include:
  • New York (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Vermont (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Community Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Watertown Savings Bank
    Similarity Rank: 12
    NIAGARA'S CHOICE
    Similarity Rank: 22
    Northfield Savings Bank
    Similarity Rank: 30
    Bank of Richmondville
    Similarity Rank: 32
    Pittsford Federal Credit Union
    Similarity Rank: 34
    SECNY Federal Credit Union
    Similarity Rank: 36
    Vermont Federal Credit Union
    Similarity Rank: 66

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 4,665 $766,175,000 $164,239 $523 7.16%
    HELOC 696 $58,750,000 $84,411 n/a 0.41%
    VA 17 $3,765,000 $221,471 $4,701 6.65%
    USDA 6 $800,000 $133,333 $3,696 6.98%
    FHA 4 $720,000 $180,000 $5,624 6.47%

    For 2023, Community Bank's most frequently originated type of loan was Conventional, with 4,665 originations. Their 2nd most popular type was HELOC, with 696 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2,827 $533,125,000 $188,583 $833 6.95%
    Home Improvement 1,281 $97,665,000 $76,241 $94 5.47%
    Refi 805 $163,285,000 $202,839 $148 5.72%
    Other 470 $35,180,000 $74,851 $214 5.48%
    Cash Out Refi 5 $955,000 $191,000 $4,058 6.50%

    For 2023, Community Bank's most frequently cited loan purpose was Home Purchase, with 2,827 originations. The 2nd most popular reason was Home Improvement, with 1,281 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 3,280 $506,290,000 $154,357 $742 5.60%
    20 Year 776 $69,520,000 $89,588 $161 7.72%
    15 Year 509 $46,915,000 $92,171 $406 7.27%
    10 Year 410 $80,760,000 $196,976 $92 7.09%
    30+ year 184 $49,820,000 $270,761 $1,200 6.93%
    5 Year 131 $18,205,000 $138,969 $2 7.05%
    Other 95 $46,475,000 $489,211 $406 6.95%
    3 Year 2 $12,010,000 $6,005,000 $0 6.75%
    1 Year 1 $215,000 $215,000 $0 8.75%

    For 2023, Community Bank's most frequently cited loan duration was 30 Year, with 3,280 originations. The 2nd most popular length was 20 Year, with 776 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 4,208 $573,080,000 $136,188
    $1k-2k 45 $9,975,000 $221,667
    $2k-3k 18 $4,260,000 $236,667
    $3k-4k 9 $2,685,000 $298,333
    $5k+ 6 $2,180,000 $363,333
    $4k-5k 2 $600,000 $300,000

    Community Bank's average total fees were $742, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 4,208 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 2,206 $418,350,000 $189,642
    7-8% 1,502 $197,710,000 $131,631
    Over 8% 664 $62,560,000 $94,217
    <2.5% 660 $55,650,000 $84,318
    5-6% 352 $95,090,000 $270,142
    4-5% 2 $300,000 $150,000
    3-4% 2 $550,000 $275,000

    During 2023, Community Bank's average interest rate for loans was 5.60%, while their most frequently originated rate bucket for loans was 6-7%, with 2,206 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 2,518 $136,680,000 $54,281 $169 6.04%
    $100k-200k 1,789 $256,075,000 $143,139 $577 6.52%
    $200k-400k 899 $237,315,000 $263,977 $1,099 6.48%
    $400k-600k 117 $55,315,000 $472,778 $2,043 6.27%
    $600k-1MM 38 $27,710,000 $729,211 $3,802 6.48%
    $1MM+ 27 $117,115,000 $4,337,593 $5,647 6.80%

    2023 saw Community Bank place emphasis on $100,000 or less loans with 2,518 originations, totaling $136,680,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 1,341 $137,065,000 $102,211 $368 6.55%
    $100k-150k 1,097 $170,365,000 $155,301 $677 6.22%
    $75k-100k 981 $118,645,000 $120,943 $486 6.31%
    $50k or less 921 $64,675,000 $70,223 $251 6.40%
    $150k-250k 591 $118,835,000 $201,074 $1,067 5.83%
    $250k+ 237 $73,815,000 $311,456 $1,931 5.68%

    Community Bank lent most frequently to those with incomes in the $50k-75k range, with 1,341 originations. The second most popular income band? $100k-150k, with 1,097 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 1,048 $131,110,000 $125,105 $443 6.27%
    20-30% 977 $116,965,000 $119,719 $677 6.13%
    42% 354 $46,330,000 $130,876 $443 6.70%
    41% 330 $45,860,000 $138,970 $429 6.58%
    40% 284 $36,470,000 $128,415 $427 6.25%
    38% 271 $36,975,000 $136,439 $610 6.37%
    <20% 263 $31,415,000 $119,449 $850 5.32%
    43% 258 $34,940,000 $135,426 $411 6.54%
    44% 255 $35,985,000 $141,118 $633 6.44%
    37% 246 $29,990,000 $121,911 $449 6.51%
    39% 244 $30,860,000 $126,475 $378 6.48%
    36% 241 $30,495,000 $126,535 $522 6.48%
    45% 133 $20,955,000 $157,556 $663 5.97%
    46% 110 $19,390,000 $176,273 $485 6.31%
    47% 110 $18,340,000 $166,727 $604 5.81%
    48% 70 $14,540,000 $207,714 $1,179 5.82%
    49% 44 $8,730,000 $198,409 $1,442 6.19%
    50-60% 30 $3,590,000 $119,667 $1,462 4.45%
    >60% 8 $1,530,000 $191,250 $862 7.20%

    Community Bank lent most frequently to those with DTI ratios of 30-36%, with 1,048 originations. The next most common DTI ratio? 20-30%, with 977 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 4,545 $569,475,000 $125,297 $498 6.23%
    Not applicable 109 $135,225,000 $1,240,596 $0 7.01%
    Not provided 485 $87,185,000 $179,763 $896 6.41%
    Black 137 $17,305,000 $126,314 $374 6.78%
    Asian 69 $13,445,000 $194,855 $1,183 6.57%
    Asian Indian 7 $2,355,000 $336,429 $2,244 6.43%
    American Indian 17 $2,305,000 $135,588 $666 6.41%
    Other Asian 11 $2,075,000 $188,636 $1,541 6.88%
    Other Pacific Islander 2 $390,000 $195,000 $1,218 7.31%
    Native Hawaiian or Islander 2 $190,000 $95,000 $0 7.00%
    Chinese 2 $130,000 $65,000 $1,759 4.88%
    Filipino 1 $75,000 $75,000 $0 7.88%
    Vietnamese 1 $55,000 $55,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    85.13%

    Community Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.00%

    Community Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 5,388 $830,210,000 $154,085

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    5,388 $830,210,000 $154,085

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 975 $78,755,000 $80,774 $166 5.66%
    40-60% 541 $113,625,000 $210,028 $409 5.99%
    60-80% 918 $216,330,000 $235,654 $999 6.52%
    80-100% 2,143 $379,405,000 $177,044 $672 7.01%
    Over 100% 3 $725,000 $241,667 $9,215 6.71%
    Under 20% 806 $37,390,000 $46,390 $34 5.03%