Community Bank Mortgage Rates, Fees & Info

Carmichaels, PA

LEI: 5493008JDUT3R3K1LZ58

Tax ID: 25-0393033

5 stars - Updated: 6/9/24 - out of 5 stars, based on 16 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 Refi and Home Purchase loans. Community Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Pittsburgh, Wheeling, Mansfield, Columbus, and Weirton among others. We have data for 13 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 an 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
30 Year Conventional Purchase 6.46% 6/9/24
30 Year Conventional Refi 6.15% 6/9/24
30 Year Cash-out Refi 6.39% 6/9/24
30 Year USDA Purchase 6.27% 6/9/24
15 Year Conventional Purchase 6.45% 6/9/24
15 Year Conventional Refi 5.68% 6/9/24
15 Year Cash-out Refi 5.68% 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.

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

253

Origination Dollar Volume (All Markets)

$54,765,000

Awards

Community Bank 30 Year Conventional Loans gold
Show all (1) awards

Relative Rate

Community Bank's average 30 year fixed mortgage rate was 6.71%.

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

This yields a difference of 0.23%.

Relative Fees (Closing Costs)

Community Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $4,134.

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
PITTSBURGH, PA (FHA|USDA|VA) 155 $28,605,000 $184,548 $2,299 6.65%
WHEELING, WV-OH (FHA|USDA|VA) 37 $8,755,000 $236,622 $999 6.53%
MANSFIELD, OH (FHA|USDA|VA) 2 $6,710,000 $3,355,000 $0 6.40%
COLUMBUS, OH (FHA|USDA|VA) 2 $4,180,000 $2,090,000 $0 6.01%
Outside of Metro Areas 37 $1,885,000 $50,946 $896 6.53%
WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) 10 $1,840,000 $184,000 $1,021 6.58%
MORGANTOWN, WV (FHA|USDA|VA) 2 $710,000 $355,000 $5,005 6.13%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 2 $550,000 $275,000 $5,823 6.88%
Oil City, PA (FHA|USDA|VA) 1 $475,000 $475,000 $0 6.50%
Ashtabula, OH (FHA|USDA|VA) 1 $455,000 $455,000 $9,691 7.13%
Somerset, PA (FHA|USDA|VA) 2 $440,000 $220,000 $291 6.75%
DuBois, PA (FHA|USDA|VA) 1 $115,000 $115,000 $4,537 7.25%
New Castle, PA (FHA|USDA|VA) 1 $45,000 $45,000 $3,016 6.25%
Community Bank's top markets include Pittsburgh, Wheeling, Mansfield, Columbus, and Weirton among others.

Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • West Virginia (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.

    TRI BORO
    Similarity Rank: 24
    InFirst Bank
    Similarity Rank: 300
    BAYER HERITAGE
    Similarity Rank: 324
    AmeriServ Financial Bank
    Similarity Rank: 384
    Washington Financial Bank
    Similarity Rank: 510
    WELCOME HOME FINANCE, L.P.
    Similarity Rank: 572

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 252 $54,700,000 $217,063 $1,877 6.60%
    USDA 1 $65,000 $65,000 $3,767 6.50%

    For 2023, Community Bank's most frequently originated type of loan was Conventional, with 252 originations. Their 2nd most popular type was USDA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 80 $19,700,000 $246,250 $574 6.45%
    Home Purchase 76 $20,170,000 $265,395 $5,174 6.74%
    Home Improvement 40 $2,730,000 $68,250 $559 6.65%
    Other 36 $1,750,000 $48,611 $574 6.60%
    Cash Out Refi 21 $10,415,000 $495,952 $3,732 6.58%

    For 2023, Community Bank's most frequently cited loan purpose was Refi, with 80 originations. The 2nd most popular reason was Home Purchase, with 76 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 91 $8,645,000 $95,000 $671 6.76%
    10 Year 63 $14,815,000 $235,159 $451 6.33%
    30 Year 39 $6,715,000 $172,179 $4,134 6.71%
    20 Year 35 $3,795,000 $108,429 $989 6.59%
    30+ year 13 $5,905,000 $454,231 $8,426 6.60%
    5 Year 6 $5,460,000 $910,000 $0 6.65%
    Other 6 $9,430,000 $1,571,667 $4,745 6.38%

    For 2023, Community Bank's most frequently cited loan duration was 15 Year, with 91 originations. The 2nd most popular length was 10 Year, with 63 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 169 $13,115,000 $77,604
    $2k-3k 18 $7,190,000 $399,444
    $1k-2k 11 $1,835,000 $166,818
    $3k-4k 1 $455,000 $455,000
    $4k-5k 1 $555,000 $555,000
    $5k+ 1 $455,000 $455,000

    Community Bank's average total fees were $4,134, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 169 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 173 $38,235,000 $221,012
    5-6% 44 $9,420,000 $214,091
    7-8% 32 $6,350,000 $198,438
    Over 8% 3 $325,000 $108,333

    During 2023, Community Bank's average interest rate for loans was 6.71%, while their most frequently originated rate bucket for loans was 6-7%, with 173 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 145 $7,585,000 $52,310 $746 6.58%
    $100k-200k 51 $7,215,000 $141,471 $2,597 6.66%
    $200k-400k 24 $6,200,000 $258,333 $3,356 6.73%
    $400k-600k 17 $8,165,000 $480,294 $8,398 6.53%
    $600k-1MM 10 $7,270,000 $727,000 $9,988 6.77%
    $1MM+ 6 $18,330,000 $3,055,000 $0 6.15%

    2023 saw Community Bank place emphasis on $100,000 or less loans with 145 originations, totaling $7,585,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 49 $6,905,000 $140,918 $2,097 6.58%
    $50k-75k 46 $2,760,000 $60,000 $1,205 6.53%
    $50k or less 43 $2,395,000 $55,698 $1,132 6.51%
    $75k-100k 32 $2,840,000 $88,750 $963 6.48%
    $150k-250k 24 $5,890,000 $245,417 $4,669 6.59%
    $250k+ 9 $2,995,000 $332,778 $4,186 6.79%

    Community Bank lent most frequently to those with incomes in the $100k-150k range, with 49 originations. The second most popular income band? $50k-75k, with 46 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 53 $5,155,000 $97,264 $1,741 6.51%
    30-36% 41 $4,975,000 $121,341 $1,984 6.65%
    <20% 20 $1,820,000 $91,000 $1,136 6.37%
    42% 18 $1,600,000 $88,889 $908 6.47%
    40% 12 $2,700,000 $225,000 $2,693 6.60%
    41% 12 $1,170,000 $97,500 $1,511 6.42%
    38% 9 $1,445,000 $160,556 $3,413 6.60%
    37% 8 $790,000 $98,750 $1,593 6.61%
    39% 7 $1,095,000 $156,429 $3,377 6.63%
    36% 7 $765,000 $109,286 $2,050 6.68%
    43% 6 $810,000 $135,000 $1,774 6.69%
    44% 4 $810,000 $202,500 $3,871 6.94%
    45% 1 $105,000 $105,000 $269 6.75%
    49% 1 $205,000 $205,000 $4,913 6.63%
    50-60% 1 $75,000 $75,000 $3,051 5.63%

    Community Bank lent most frequently to those with DTI ratios of 20-30%, with 53 originations. The next most common DTI ratio? 30-36%, with 41 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 49 $30,895,000 $630,510 $0 6.84%
    White 191 $21,375,000 $111,911 $1,779 6.54%
    Not provided 10 $2,140,000 $214,000 $4,021 6.62%
    Black 3 $355,000 $118,333 $3,045 7.00%

    Approval Rates

    Total approvals of all applications
    79.23%

    Community Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    92.09%

    Community Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 253 $54,765,000 $216,462

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    253 $54,765,000 $216,462

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 48 $2,710,000 $56,458 $721 6.61%
    40-60% 41 $11,575,000 $282,317 $1,486 6.44%
    60-80% 70 $26,570,000 $379,571 $2,617 6.59%
    80-100% 48 $11,440,000 $238,333 $4,235 6.72%
    Under 20% 46 $2,470,000 $53,696 $680 6.64%