Community Bank Mortgage Rates, Fees & Info

Canton, NY

LEI: 5493005RDTT7HVODH436

Tax ID: 15-0436580

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • 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 small bank specializing in Home Purchase and Refi loans. Community Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Rochester, Scranton, Burlington, Glens Falls, and Utica among others. We have data for 48 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 about average 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 1.53% 4/21/24
    30 Year Conventional Purchase 6.75% 4/21/24
    30 Year Conventional Refi 6.63% 4/21/24
    30 Year Cash-out Refi 6.02% 4/21/24
    30 Year FHA Purchase 7.13% 4/21/24
    30 Year VA Purchase 6.39% 4/21/24
    30 Year USDA Purchase 6.74% 4/21/24
    15 Year Conventional Purchase 6.33% 4/21/24
    15 Year Conventional Refi 6.20% 4/21/24
    15 Year Cash-out Refi 6.20% 4/21/24
    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

    5,888

    Origination Dollar Volume (All Markets)

    $1,084,100,000
    Show all (22) awards

    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 915 $118,725,000 $129,754 $623 4.45%
    ROCHESTER, NY (FHA|USDA|VA) 421 $107,525,000 $255,404 $555 4.30%
    SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 609 $94,965,000 $155,936 $1,043 4.57%
    BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) 120 $76,070,000 $633,917 $1,066 3.12%
    GLENS FALLS, NY (FHA|USDA|VA) 29 $74,005,000 $2,551,897 $575 4.25%
    UTICA-ROME, NY (FHA|USDA|VA) 247 $57,115,000 $231,235 $530 4.34%
    SYRACUSE, NY (FHA|USDA|VA) 382 $49,780,000 $130,314 $708 4.43%
    Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) 423 $45,775,000 $108,215 $427 4.65%
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 88 $43,820,000 $497,955 $1,228 4.36%
    Olean, NY (FHA|USDA|VA) 218 $40,540,000 $185,963 $391 4.52%
    Plattsburgh, NY (FHA|USDA|VA) 250 $35,480,000 $141,920 $851 4.59%
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 226 $33,160,000 $146,726 $800 4.24%
    ERIE, PA (FHA|USDA|VA) 8 $32,740,000 $4,092,500 $1,460 5.32%
    WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 224 $27,990,000 $124,955 $512 4.65%
    Ogdensburg-Massena, NY (FHA|USDA|VA) 265 $26,965,000 $101,755 $433 4.43%
    Oneonta, NY (FHA|USDA|VA) 184 $25,870,000 $140,598 $688 4.71%
    ITHACA, NY (FHA|USDA|VA) 120 $25,690,000 $214,083 $2,319 4.62%
    Corning, NY (FHA|USDA|VA) 220 $25,680,000 $116,727 $679 4.69%
    ELMIRA, NY (FHA|USDA|VA) 123 $17,435,000 $141,748 $1,466 5.18%
    Gloversville, NY (FHA|USDA|VA) 72 $16,720,000 $232,222 $1,174 5.12%
    Malone, NY (FHA|USDA|VA) 124 $14,810,000 $119,435 $714 4.46%
    BINGHAMTON, NY (FHA|USDA|VA) 109 $14,325,000 $131,422 $963 5.27%
    Rutland, VT (FHA|USDA|VA) 63 $9,925,000 $157,540 $1,017 3.81%
    Seneca Falls, NY (FHA|USDA|VA) 72 $7,930,000 $110,139 $342 4.42%
    SPRINGFIELD, MA (FHA|USDA|VA) 14 $7,060,000 $504,286 $592 5.51%
    Amsterdam, NY (FHA|USDA|VA) 41 $6,595,000 $160,854 $986 4.85%
    Auburn, NY (FHA|USDA|VA) 53 $5,575,000 $105,189 $1,051 4.00%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 3 $5,485,000 $1,828,333 $2,144 4.62%
    Barre, VT (FHA|USDA|VA) 24 $5,150,000 $214,583 $804 2.98%
    Sayre, PA (FHA|USDA|VA) 39 $5,045,000 $129,359 $962 4.72%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 49 $4,635,000 $94,592 $356 5.16%
    Lebanon, NH-VT (FHA|USDA|VA) 33 $4,075,000 $123,485 $777 3.04%
    KINGSTON, NY (FHA|USDA|VA) 17 $4,005,000 $235,588 $1,742 4.27%
    Hudson, NY (FHA|USDA|VA) 21 $2,965,000 $141,190 $1,722 2.71%
    Cortland, NY (FHA|USDA|VA) 18 $2,700,000 $150,000 $2,580 4.59%
    Pottsville, PA (FHA|USDA|VA) 17 $1,665,000 $97,941 $1,219 4.60%
    Bennington, VT (FHA|USDA|VA) 11 $1,275,000 $115,909 $318 3.75%
    Bradford, PA (FHA|USDA|VA) 11 $835,000 $75,909 $798 4.44%
    EAST STROUDSBURG, PA (FHA|USDA|VA) 5 $695,000 $139,000 $33 2.80%
    Batavia, NY (FHA|USDA|VA) 6 $580,000 $96,667 $1,029 4.88%
    GETTYSBURG, PA (FHA|USDA|VA) 1 $465,000 $465,000 $10 4.00%
    DuBois, PA (FHA|USDA|VA) 1 $435,000 $435,000 $0 4.85%
    Warren, PA (FHA|USDA|VA) 5 $435,000 $87,000 $730 4.88%
    Keene, NH (FHA|USDA|VA) 2 $430,000 $215,000 $0 5.19%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 2 $410,000 $205,000 $1,529 4.88%
    WORCESTER, MA-CT (FHA|USDA|VA) 1 $315,000 $315,000 $44 7.13%
    WILLIAMSPORT, PA (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
    BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 1 $105,000 $105,000 $3,206 2.38%
    Community Bank's top markets include Rochester, Scranton, Burlington, Glens Falls, and Utica among others.

    Their top states include:
  • New York (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Vermont (FHA|USDA|VA)
  • Massachusetts (FHA|USDA|VA)
  • New Hampshire (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: 6
    Gouverneur Savings and Loan Association
    Similarity Rank: 12
    SECNY Federal Credit Union
    Similarity Rank: 22
    Pittsford Federal Credit Union
    Similarity Rank: 24
    Bank of Richmondville
    Similarity Rank: 24
    GREATER WOODLAWN FEDERAL CREDIT UNION
    Similarity Rank: 42
    FIRST HERITAGE FEDERAL CREDIT UNION
    Similarity Rank: 45
    Saratoga National Bank and Trust Company
    Similarity Rank: 72
    Moog Employees Federal Credit Union
    Similarity Rank: 76
    NIAGARA'S CHOICE
    Similarity Rank: 80

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 5,144 $1,017,210,000 $197,747 $722 5.09%
    HELOC 712 $62,280,000 $87,472 n/a 0.03%
    FHA 18 $2,330,000 $129,444 $4,912 5.40%
    USDA 11 $1,375,000 $125,000 $3,840 4.97%
    VA 3 $905,000 $301,667 $5,633 5.42%

    For 2022, Community Bank's most frequently originated type of loan was Conventional, with 5,144 originations. Their 2nd most popular type was HELOC, with 712 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2,807 $661,965,000 $235,827 $1,089 5.19%
    Refi 1,514 $297,250,000 $196,334 $361 3.99%
    Home Improvement 1,146 $87,760,000 $76,579 $168 3.64%
    Other 367 $28,475,000 $77,589 $395 3.77%
    Cash Out Refi 54 $8,650,000 $160,185 $3,672 3.69%

    For 2022, Community Bank's most frequently cited loan purpose was Home Purchase, with 2,807 originations. The 2nd most popular reason was Refi, with 1,514 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 3,101 $436,045,000 $140,614 $1,044 4.09%
    20 Year 1,126 $125,600,000 $111,545 $345 5.16%
    15 Year 715 $79,405,000 $111,056 $660 4.62%
    10 Year 530 $300,780,000 $567,509 $225 4.80%
    30+ year 157 $40,885,000 $260,414 $1,635 5.38%
    Other 137 $95,985,000 $700,620 $592 4.59%
    5 Year 121 $5,355,000 $44,256 $6 4.66%
    3 Year 1 $45,000 $45,000 $1,449 2.88%

    For 2022, Community Bank's most frequently cited loan duration was 30 Year, with 3,101 originations. The 2nd most popular length was 20 Year, with 1,126 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 4,501 $559,975,000 $124,411
    $1k-2k 161 $34,155,000 $212,143
    $2k-3k 37 $8,675,000 $234,459
    $3k-4k 21 $5,135,000 $244,524
    $4k-5k 15 $4,085,000 $272,333
    $5k+ 10 $3,920,000 $392,000

    Community Bank's average total fees were $1,044, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 4,501 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 1,439 $240,915,000 $167,418
    3-4% 1,212 $317,760,000 $262,178
    4-5% 1,145 $269,545,000 $235,410
    6-7% 803 $105,275,000 $131,102
    <2.5% 758 $70,150,000 $92,546
    7-8% 330 $35,040,000 $106,182
    2.5-3% 128 $40,730,000 $318,203
    Over 8% 73 $4,685,000 $64,178

    During 2022, Community Bank's average interest rate for loans was 4.09%, while their most frequently originated rate bucket for loans was 5-6%, with 1,439 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 2,767 $159,865,000 $57,776 $246 4.27%
    $100k-200k 2,120 $299,630,000 $141,335 $847 4.68%
    $200k-400k 826 $214,960,000 $260,242 $1,649 4.63%
    $400k-600k 107 $50,165,000 $468,832 $3,130 4.67%
    $1MM+ 34 $334,240,000 $9,830,588 $5,790 4.64%
    $600k-1MM 34 $25,240,000 $742,353 $4,354 4.48%

    2022 saw Community Bank place emphasis on $100,000 or less loans with 2,767 originations, totaling $159,865,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 1,526 $158,890,000 $104,122 $634 4.69%
    $50k or less 1,225 $92,735,000 $75,702 $473 4.65%
    $100k-150k 1,074 $159,730,000 $148,724 $961 4.23%
    $75k-100k 1,065 $130,725,000 $122,746 $662 4.40%
    $150k-250k 535 $100,355,000 $187,579 $1,356 4.20%
    $250k+ 175 $52,295,000 $298,829 $2,419 3.79%

    Community Bank lent most frequently to those with incomes in the $50k-75k range, with 1,526 originations. The second most popular income band? $50k or less, with 1,225 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,263 $144,885,000 $114,715 $796 4.38%
    30-36% 1,213 $153,985,000 $126,946 $784 4.53%
    <20% 403 $43,615,000 $108,226 $918 4.00%
    40% 324 $42,860,000 $132,284 $658 4.53%
    42% 323 $41,045,000 $127,074 $501 4.62%
    41% 299 $38,185,000 $127,709 $689 4.40%
    39% 290 $37,130,000 $128,034 $532 4.51%
    38% 279 $33,105,000 $118,656 $725 4.57%
    37% 267 $31,315,000 $117,285 $580 4.37%
    43% 256 $33,210,000 $129,727 $813 4.46%
    36% 221 $27,035,000 $122,330 $619 4.52%
    44% 205 $26,505,000 $129,293 $536 4.93%
    45% 94 $12,810,000 $136,277 $890 4.48%
    46% 93 $14,725,000 $158,333 $742 4.46%
    47% 63 $10,465,000 $166,111 $925 4.38%
    50-60% 53 $8,065,000 $152,170 $1,443 4.16%
    48% 41 $6,175,000 $150,610 $2,098 4.39%
    49% 28 $4,410,000 $157,500 $1,686 4.68%
    >60% 5 $675,000 $135,000 $0 3.35%

    Community Bank lent most frequently to those with DTI ratios of 20-30%, with 1,263 originations. The next most common DTI ratio? 30-36%, with 1,213 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 5,297 $647,155,000 $122,174 $708 4.42%
    Not applicable 155 $369,355,000 $2,382,935 $0 5.22%
    Not provided 222 $38,660,000 $174,144 $1,428 4.88%
    Black 104 $11,780,000 $113,269 $708 5.15%
    Asian 70 $10,870,000 $155,286 $1,639 4.28%
    American Indian 19 $2,175,000 $114,474 $586 5.31%
    Asian Indian 7 $1,985,000 $283,571 $2,888 4.72%
    Other Asian 5 $915,000 $183,000 $0 4.78%
    Other Pacific Islander 4 $420,000 $105,000 $95 5.16%
    Filipino 1 $245,000 $245,000 $0 4.25%
    Chinese 1 $225,000 $225,000 $2,253 6.00%
    Guamanian 1 $125,000 $125,000 $0 5.88%
    Native Hawaiian or Islander 1 $125,000 $125,000 $0 3.25%
    Vietnamese 1 $65,000 $65,000 $0 6.50%

    Approval Rates

    Total approvals of all applications
    85.24%

    Community Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.02%

    Community Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 5,888 $1,084,100,000 $184,120

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    5,888 $1,084,100,000 $184,120

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 969 $70,665,000 $72,926 $297 3.62%
    40-60% 743 $144,605,000 $194,623 $678 3.95%
    60-80% 1,599 $515,065,000 $322,117 $1,077 4.75%
    80-100% 1,924 $319,480,000 $166,050 $859 5.17%
    Over 100% 2 $460,000 $230,000 $7,224 5.13%
    Under 20% 651 $33,825,000 $51,959 $29 3.63%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    Community Loan Servicing, LLC (formerly known as Bayview Loan Servicing, LLC) FHA mortgage Struggling to pay mortgage 2 66.7%
    Community Loan Servicing, LLC (formerly known as Bayview Loan Servicing, LLC) Other type of mortgage Trouble during payment process 1 33.3%