The Community Bank Mortgage Rates, Fees & Info
Zanesville, OHLEI: 5493007G0MFTSE8JPV83
Tax ID: 31-4159790
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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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.64% | 12/16/24 |
| 30 Year Conventional Refi | 6.46% | 12/16/24 |
| 30 Year Cash-out Refi | 6.55% | 12/16/24 |
| 15 Year Conventional Purchase | 6.46% | 12/16/24 |
| 15 Year Conventional Refi | 6.00% | 12/16/24 |
| 15 Year Cash-out Refi | 6.00% | 12/16/24 |
| 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
368Origination Dollar Volume (All Markets)
$69,340,000Awards
The Community Bank - 2023
The Community Bank is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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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% |
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.
Similarity Rank: 210
Similarity Rank: 252
Similarity Rank: 440
Similarity Rank: 496
Similarity Rank: 630
Similarity Rank: 690
Similarity Rank: 780
Similarity Rank: 783
Similarity Rank: 990
Similarity Rank: 1417
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
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
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
2023 saw The Community Bank place emphasis on $100k-200k loans with 119 originations, totaling $17,515,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications93.19%
The Community Bank has an average approval rate.
Pick Rate
Approvals leading to origination81.52%
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 |