Commercial Bank Mortgage Rates, Fees & Info
Alma, MILEI: 549300FTVK4FVXS1IW37
Tax ID: 38-1688835
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Commercial Bank is a smaller bank specializing in Home Purchase loans. Commercial Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Alma, Grand Rapids, Lansing, Holland, and Mount Pleasant among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Commercial 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.
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Originations
50Origination Dollar Volume (All Markets)
$12,240,000Top 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 |
|---|---|---|---|---|---|
| Alma, MI (FHA|USDA|VA) | 20 | $3,980,000 | $199,000 | $0 | 0.00% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 9 | $3,165,000 | $351,667 | $0 | 0.00% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 11 | $1,725,000 | $156,818 | $0 | 0.00% |
| Holland, MI (FHA|USDA|VA) | 1 | $1,365,000 | $1,365,000 | $0 | 0.00% |
| Mount Pleasant, MI (FHA|USDA|VA) | 2 | $910,000 | $455,000 | $0 | 0.00% |
| Outside of Metro Areas | 5 | $555,000 | $111,000 | $0 | 0.00% |
| SAGINAW, MI (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Commercial Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 54
Similarity Rank: 111
Similarity Rank: 141
Similarity Rank: 5950
Similarity Rank: 7320
Similarity Rank: 11076
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 49 | $12,055,000 | $246,020 | $0 | 0.00% |
| USDA | 1 | $185,000 | $185,000 | $0 | 0.00% |
For 2024, Commercial Bank's most frequently originated type of loan was Conventional, with 49 originations. Their 2nd most popular type was USDA, with 1 originations.
Loan Reason
For 2024, Commercial Bank's most frequently cited loan purpose was Home Purchase, with 35 originations. The 2nd most popular reason was Cash Out Refi, with 8 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 50 | $12,240,000 | $244,800 | $0 | 0.00% |
For 2024, Commercial Bank's most frequently cited loan duration was Other, with 50 originations.
Loan Sizing
2024 saw Commercial Bank place emphasis on $100k-200k loans with 19 originations, totaling $2,915,000 in origination value.
Applicant Income
Commercial Bank lent most frequently to those with incomes in the $50k-75k range, with 12 originations. The second most popular income band? $250k+, with 9 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 50 | $12,240,000 | $244,800 | $0 | 0.00% |
Commercial Bank lent most frequently to those with DTI ratios of Exempt%, with 50 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.19%
Commercial Bank has an average approval rate.
Pick Rate
Approvals leading to origination76.00%
Commercial Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 50 | $12,240,000 | $244,800 |