Commonwealth Mortgage Rates, Fees & Info
Frankfort, KYLEI: 549300CUF3Q2PQGM9256
Tax ID: 61-0671028
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Mortgage Data
Review & Overview
Commonwealth is a smaller mortgage company specializing in Home Purchase and Refi loans. Commonwealth has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Lexington, Louisville, Frankfort, Richmond, and Danville among others. We have data for 25 markets. (Some data included below & more in-depth data is available with an active subscription.)Commonwealth 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. Commonwealth 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) | 6.72% | 6/22/25 |
| 30 Year Conventional Purchase | 6.68% | 6/22/25 |
| 30 Year Conventional Refi | 6.49% | 6/22/25 |
| 30 Year Cash-out Refi | 6.57% | 6/22/25 |
| 30 Year FHA Purchase | 6.72% | 6/22/25 |
| 30 Year USDA Purchase | 7.08% | 6/22/25 |
| 15 Year Conventional Purchase | 7.10% | 6/22/25 |
| 15 Year Conventional Refi | 6.09% | 6/22/25 |
| 15 Year Cash-out Refi | 6.09% | 6/22/25 |
| 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. | ||
Commonwealth Mortgage Calculator
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,543Origination Dollar Volume (All Markets)
$217,045,000Awards
COMMONWEALTH - 2024
COMMONWEALTH is a 2024 , due to their low .
For 2024, less than of lenders were eligible for this award.
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Relative Rate
Commonwealth's average 30 year fixed mortgage rate was
6.35%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of -0.2%.
Relative Fees (Closing Costs)
Commonwealth's average total fees/closing costs for a 30 year fixed rate
mortgage were $2,783.
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 $8,356.
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 |
|---|---|---|---|---|---|
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 462 | $80,030,000 | $173,225 | $1,637 | 8.03% |
| LOUISVILLE, KY (FHA|USDA|VA) | 386 | $51,000,000 | $132,124 | $1,489 | 8.26% |
| Frankfort, KY (FHA|USDA|VA) | 368 | $39,490,000 | $107,310 | $1,503 | 8.08% |
| Outside of Metro Areas | 150 | $17,980,000 | $119,867 | $2,071 | 7.95% |
| Richmond-Berea, KY (FHA|USDA|VA) | 59 | $15,555,000 | $263,644 | $1,655 | 8.64% |
| Danville, KY (FHA|USDA|VA) | 32 | $4,870,000 | $152,188 | $1,812 | 7.64% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 26 | $2,650,000 | $101,923 | $1,328 | 8.50% |
| ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) | 10 | $1,060,000 | $106,000 | $623 | 9.06% |
| Mount Sterling, KY (FHA|USDA|VA) | 10 | $880,000 | $88,000 | $2,319 | 8.36% |
| HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) | 5 | $555,000 | $111,000 | $1,838 | 7.23% |
| Bardstown, KY (FHA|USDA|VA) | 7 | $465,000 | $66,429 | $1,324 | 8.43% |
| OWENSBORO, KY (FHA|USDA|VA) | 3 | $415,000 | $138,333 | $3,483 | 8.13% |
| Somerset, KY (FHA|USDA|VA) | 5 | $365,000 | $73,000 | $1,897 | 7.50% |
| Central City, KY (FHA|USDA|VA) | 3 | $315,000 | $105,000 | $2,407 | 6.38% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $2,123 | 7.94% |
| BOWLING GREEN, KY (FHA|USDA|VA) | 2 | $220,000 | $110,000 | $2,625 | 8.94% |
| Middlesborough, KY (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $155 | 10.06% |
| London, KY (FHA|USDA|VA) | 3 | $205,000 | $68,333 | $0 | 8.92% |
| Campbellsville, KY (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,499 | 6.00% |
| Glasgow, KY (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $261 | 10.00% |
| Paducah, KY-IL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 8.25% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 9.00% |
| Murray, KY (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 10.00% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $361 | 7.38% |
| Maysville, KY (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 9.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against COMMONWEALTH based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 60
Similarity Rank: 136
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Similarity Rank: 560
Similarity Rank: 575
Similarity Rank: 576
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 855 | $75,815,000 | $88,673 | n/a | 9.00% |
| Conventional | 687 | $141,015,000 | $205,262 | $1,602 | 7.04% |
| USDA | 1 | $215,000 | $215,000 | $12,418 | 6.25% |
For 2024, Commonwealth's most frequently originated type of loan was HELOC, with 855 originations. Their 2nd most popular type was Conventional, with 687 originations.
Loan Reason
For 2024, Commonwealth's most frequently cited loan purpose was Other, with 364 originations. The 2nd most popular reason was Home Improvement, with 362 originations.
Loan Duration/Length
For 2024, Commonwealth's most frequently cited loan duration was Other, with 854 originations. The 2nd most popular length was 10 Year, with 250 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 503 | $71,075,000 | $141,302 |
| $5k+ | 1 | $215,000 | $215,000 |
Commonwealth's average total fees were $2,783, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 503 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 870 | $74,190,000 | $85,276 |
| 6-7% | 372 | $107,370,000 | $288,629 |
| 7-8% | 206 | $15,450,000 | $75,000 |
| 5-6% | 92 | $19,590,000 | $212,935 |
| 2.5-3% | 1 | $85,000 | $85,000 |
During 2024, Commonwealth's average interest rate for loans was 6.35%, while their most frequently originated rate bucket for loans was Over 8%, with 870 originations.
Loan Sizing
2024 saw Commonwealth place emphasis on $100,000 or less loans with 866 originations, totaling $45,810,000 in origination value.
Applicant Income
Commonwealth lent most frequently to those with incomes in the $100k-150k range, with 351 originations. The second most popular income band? $50k-75k, with 255 originations.
Applicant Debt to Income Ratio
Commonwealth lent most frequently to those with DTI ratios of 20-30%, with 264 originations. The next most common DTI ratio? 30-36%, with 228 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications76.65%
Commonwealth has a below average approval rate.
Pick Rate
Approvals leading to origination70.84%
Commonwealth has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,543 | $217,045,000 | $140,664 |