The Community Bank Mortgage Rates, Fees & Info

Zanesville, OH

LEI: 5493007G0MFTSE8JPV83

Tax ID: 31-4159790

5 stars - Updated: 6/9/24 - out of 5 stars, based on 19 reviews

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

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Mortgage Data

Review & Overview

The Community Bank is a smaller bank specializing in Home Purchase loans. The Community Bank has a high proportion of conventional loans. Their top markets by origination volume include: Columbus, Zanesville, Cambridge, Coshocton, and Mount Vernon among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

The Community 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. The 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
30 Year Conventional Purchase 6.64% 6/9/24
30 Year Conventional Refi 6.46% 6/9/24
30 Year Cash-out Refi 6.55% 6/9/24
15 Year Conventional Purchase 6.46% 6/9/24
15 Year Conventional Refi 6.00% 6/9/24
15 Year Cash-out Refi 6.00% 6/9/24
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.

The Community Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from The 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

368

Origination Dollar Volume (All Markets)

$69,340,000
Show all (8) awards

Relative Rate

The Community Bank's average 30 year fixed mortgage rate was 6.03%.

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

This yields a difference of -0.45%.

Relative Fees (Closing Costs)

The Community Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $3,083.

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
COLUMBUS, OH (FHA|USDA|VA) 145 $36,535,000 $251,966 $3,173 6.33%
Zanesville, OH (FHA|USDA|VA) 159 $23,615,000 $148,522 $2,332 6.67%
Cambridge, OH (FHA|USDA|VA) 38 $4,790,000 $126,053 $1,866 6.83%
Coshocton, OH (FHA|USDA|VA) 9 $1,515,000 $168,333 $4,181 6.58%
Outside of Metro Areas 10 $1,330,000 $133,000 $2,113 6.58%
Mount Vernon, OH (FHA|USDA|VA) 4 $1,090,000 $272,500 $3,099 7.25%
Urbana, OH (FHA|USDA|VA) 1 $225,000 $225,000 $3,536 7.38%
Chillicothe, OH (FHA|USDA|VA) 1 $195,000 $195,000 $3,300 6.63%
WHEELING, WV-OH (FHA|USDA|VA) 1 $45,000 $45,000 $495 6.13%
The Community Bank's top markets include Columbus, Zanesville, Cambridge, Coshocton, and Mount Vernon among others.

Their top states include:
  • Ohio (FHA|USDA|VA)
  • Similar Lenders

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

    The Community Bank
    Similarity Rank: 252
    The Merchants National Bank
    Similarity Rank: 630
    TrueCore Federal Credit Union
    Similarity Rank: 690
    VICTORY MORTGAGE, L.L.C.
    Similarity Rank: 780
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    Similarity Rank: 783
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    THE VINTON COUNTY NATIONAL BANK
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 367 $69,085,000 $188,243 $2,667 6.55%
    HELOC 1 $255,000 $255,000 n/a 8.25%

    For 2023, The Community Bank's most frequently originated type of loan was Conventional, with 367 originations. Their 2nd most popular type was HELOC, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 208 $48,300,000 $232,212 $3,587 6.42%
    Cash Out Refi 105 $12,815,000 $122,048 $1,410 6.69%
    Refi 51 $7,755,000 $152,059 $1,839 6.72%
    Home Improvement 4 $470,000 $117,500 $0 7.75%

    For 2023, The Community Bank's most frequently cited loan purpose was Home Purchase, with 208 originations. The 2nd most popular reason was Cash Out Refi, with 105 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 146 $35,020,000 $239,863 $3,083 6.03%
    15 Year 98 $14,450,000 $147,449 $2,134 7.07%
    20 Year 53 $5,435,000 $102,547 $1,014 7.14%
    30+ year 30 $10,790,000 $359,667 $4,458 5.71%
    Other 22 $2,760,000 $125,455 $3,092 7.13%
    10 Year 17 $795,000 $46,765 $698 7.09%
    5 Year 2 $90,000 $45,000 $1,020 6.13%

    For 2023, The Community Bank's most frequently cited loan duration was 30 Year, with 146 originations. The 2nd most popular length was 15 Year, with 98 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 214 $38,640,000 $180,561
    $1k-2k 45 $13,385,000 $297,444
    $2k-3k 12 $2,960,000 $246,667
    $3k-4k 4 $1,130,000 $282,500

    The Community Bank's average total fees were $3,083, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 214 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 104 $18,000,000 $173,077
    7-8% 92 $13,810,000 $150,109
    5-6% 90 $22,190,000 $246,556
    Over 8% 42 $5,860,000 $139,524
    4-5% 40 $9,480,000 $237,000

    During 2023, The Community Bank's average interest rate for loans was 6.03%, while their most frequently originated rate bucket for loans was 6-7%, with 104 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 119 $17,515,000 $147,185 $2,414 6.53%
    $100,000 or less 117 $7,045,000 $60,214 $1,395 7.03%
    $200k-400k 104 $29,530,000 $283,942 $3,493 6.25%
    $400k-600k 22 $10,460,000 $475,455 $4,121 5.73%
    $600k-1MM 5 $3,615,000 $723,000 $4,741 5.92%
    $1MM+ 1 $1,175,000 $1,175,000 $8,220 7.38%

    2023 saw The Community Bank place emphasis on $100k-200k loans with 119 originations, totaling $17,515,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 78 $10,530,000 $135,000 $2,482 6.44%
    $100k-150k 64 $16,040,000 $250,625 $2,949 6.19%
    $75k-100k 63 $11,085,000 $175,952 $2,728 6.39%
    $150k-250k 38 $11,390,000 $299,737 $3,027 5.92%
    $50k or less 33 $2,925,000 $88,636 $1,977 6.36%
    $250k+ 15 $6,035,000 $402,333 $3,298 6.58%

    The Community Bank lent most frequently to those with incomes in the $50k-75k range, with 78 originations. The second most popular income band? $100k-150k, with 64 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 65 $11,515,000 $177,154 $2,655 5.94%
    30-36% 63 $14,205,000 $225,476 $2,908 6.36%
    42% 24 $4,980,000 $207,500 $2,401 6.23%
    39% 18 $3,950,000 $219,444 $3,007 6.18%
    40% 17 $3,615,000 $212,647 $2,404 6.60%
    41% 16 $4,370,000 $273,125 $2,567 6.57%
    <20% 14 $2,170,000 $155,000 $2,612 5.60%
    37% 13 $2,535,000 $195,000 $2,627 6.18%
    38% 12 $1,950,000 $162,500 $2,618 6.65%
    43% 10 $2,020,000 $202,000 $2,493 6.60%
    36% 9 $1,675,000 $186,111 $3,005 6.57%
    44% 4 $1,120,000 $280,000 $3,163 5.72%
    50-60% 2 $420,000 $210,000 $4,009 6.31%
    46% 2 $160,000 $80,000 $1,258 6.50%
    47% 2 $560,000 $280,000 $3,068 6.06%
    >60% 1 $165,000 $165,000 $0 7.88%
    45% 1 $165,000 $165,000 $2,976 7.38%
    48% 1 $155,000 $155,000 $495 6.88%

    The Community Bank lent most frequently to those with DTI ratios of 20-30%, with 65 originations. The next most common DTI ratio? 30-36%, with 63 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 298 $58,910,000 $197,685 $2,671 6.32%
    Not applicable 69 $10,395,000 $150,652 $0 7.52%
    Not provided 1 $35,000 $35,000 $1,385 9.00%

    Approval Rates

    Total approvals of all applications
    93.19%

    The Community Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    81.52%

    The Community Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 368 $69,340,000 $188,424

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    368 $69,340,000 $188,424

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 54 $6,580,000 $121,852 $1,335 6.77%
    40-60% 48 $7,200,000 $150,000 $1,940 6.44%
    60-80% 108 $21,610,000 $200,093 $3,217 6.41%
    80-100% 128 $32,310,000 $252,422 $3,539 6.47%
    Under 20% 30 $1,640,000 $54,667 $738 7.22%