Community Mortgage Corporation Rates, Fees & Info

CORDOVA, TN

LEI: 549300IJ8KTGYPKLXK63

Tax ID: 62-1344184

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Community Mortgage Corporation is a smaller mortgage company specializing in Home Purchase and Refi loans. Community Mortgage Corporation has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Memphis, Oxford, Nashville, Little Rock, and Chattanooga among others. We have data for 65 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Community Mortgage Corporation 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. Community Mortgage Corporation is typically an average 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
    30 Year Conventional Purchase 6.79% 11/21/24
    30 Year Conventional Refi 6.53% 11/21/24
    30 Year Cash-out Refi 6.87% 11/21/24
    30 Year FHA Purchase 7.29% 11/21/24
    30 Year FHA Refi 6.51% 11/21/24
    30 Year VA Purchase 6.29% 11/21/24
    30 Year USDA Purchase 6.71% 11/21/24
    15 Year Conventional Purchase 6.05% 11/21/24
    15 Year Conventional Refi 6.18% 11/21/24
    15 Year Cash-out Refi 6.18% 11/21/24
    15 Year VA Purchase 6.11% 11/21/24
    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 Mortgage Corporation Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Community Mortgage Corporation. 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

    3,960

    Origination Dollar Volume (All Markets)

    $960,540,000
    Show all (30) awards

    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
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 2,591 $634,475,000 $244,876 $4,795 3.00%
    Oxford, MS (FHA|USDA|VA) 207 $64,035,000 $309,348 $3,470 3.03%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 208 $61,290,000 $294,663 $4,919 3.00%
    LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 211 $45,225,000 $214,336 $3,993 2.79%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 167 $36,725,000 $219,910 $3,896 3.03%
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 80 $15,900,000 $198,750 $3,702 2.97%
    Outside of Metro Areas 76 $14,650,000 $192,763 $3,958 3.00%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 53 $14,555,000 $274,623 $4,610 2.89%
    CLARKSVILLE, TN-KY (FHA|USDA|VA) 59 $12,525,000 $212,288 $5,376 2.89%
    JACKSON, MS (FHA|USDA|VA) 43 $9,315,000 $216,628 $4,409 2.80%
    MORRISTOWN, TN (FHA|USDA|VA) 47 $7,825,000 $166,489 $4,162 3.34%
    HUNTSVILLE, AL (FHA|USDA|VA) 31 $6,735,000 $217,258 $4,265 2.92%
    CLEVELAND, TN (FHA|USDA|VA) 16 $3,200,000 $200,000 $4,726 3.44%
    Searcy, AR (FHA|USDA|VA) 22 $3,040,000 $138,182 $3,480 2.93%
    Malvern, AR (FHA|USDA|VA) 15 $2,725,000 $181,667 $4,578 2.91%
    HOT SPRINGS, AR (FHA|USDA|VA) 14 $2,610,000 $186,429 $3,231 2.85%
    KNOXVILLE, TN (FHA|USDA|VA) 8 $2,390,000 $298,750 $3,714 2.78%
    Tupelo, MS (FHA|USDA|VA) 13 $2,305,000 $177,308 $3,505 3.07%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 6 $1,980,000 $330,000 $7,583 3.56%
    JACKSON, TN (FHA|USDA|VA) 8 $1,770,000 $221,250 $3,401 3.05%
    Brownsville, TN (FHA|USDA|VA) 5 $895,000 $179,000 $4,108 3.15%
    Dayton, TN (FHA|USDA|VA) 4 $850,000 $212,500 $5,060 2.81%
    DALTON, GA (FHA|USDA|VA) 3 $825,000 $275,000 $4,529 3.08%
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 3 $725,000 $241,667 $2,492 3.08%
    Tullahoma-Manchester, TN (FHA|USDA|VA) 3 $715,000 $238,333 $3,562 3.83%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 3 $715,000 $238,333 $4,444 3.33%
    PINE BLUFF, AR (FHA|USDA|VA) 5 $655,000 $131,000 $3,872 3.05%
    Lawrenceburg, TN (FHA|USDA|VA) 4 $630,000 $157,500 $3,320 3.09%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 3 $625,000 $208,333 $4,118 2.75%
    Sevierville, TN (FHA|USDA|VA) 3 $565,000 $188,333 $7,389 2.79%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $535,000 $535,000 $23,422 2.75%
    HATTIESBURG, MS (FHA|USDA|VA) 2 $530,000 $265,000 $4,991 3.38%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $500,000 $250,000 $4,770 3.06%
    BRUNSWICK, GA (FHA|USDA|VA) 2 $480,000 $240,000 $3,513 2.75%
    Paris, TN (FHA|USDA|VA) 2 $450,000 $225,000 $3,056 3.06%
    Starkville, MS (FHA|USDA|VA) 2 $450,000 $225,000 $4,431 2.81%
    FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 1 $425,000 $425,000 $2,401 2.88%
    Jefferson, GA (FHA|USDA|VA) 2 $410,000 $205,000 $3,136 3.06%
    Albertville, AL (FHA|USDA|VA) 2 $410,000 $205,000 $4,096 2.56%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $380,000 $190,000 $7,363 2.50%
    JONESBORO, AR (FHA|USDA|VA) 2 $370,000 $185,000 $2,254 3.18%
    KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 2 $350,000 $175,000 $5,326 3.31%
    JACKSONVILLE, FL (FHA|USDA|VA) 1 $345,000 $345,000 $2,139 2.49%
    Shelbyville, TN (FHA|USDA|VA) 1 $345,000 $345,000 $3,235 2.50%
    Clarksdale, MS (FHA|USDA|VA) 2 $340,000 $170,000 $5,077 3.13%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $295,000 $295,000 $4,019 3.50%
    Calhoun, GA (FHA|USDA|VA) 2 $290,000 $145,000 $3,940 2.69%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $285,000 $285,000 $2,911 2.25%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $265,000 $265,000 $8,748 2.38%
    DECATUR, AL (FHA|USDA|VA) 2 $250,000 $125,000 $3,758 2.88%
    Greeneville, TN (FHA|USDA|VA) 1 $245,000 $245,000 $7,269 2.25%
    Helena-West Helena, AR (FHA|USDA|VA) 2 $240,000 $120,000 $3,262 2.81%
    Batesville, AR (FHA|USDA|VA) 1 $205,000 $205,000 $2,348 3.50%
    Columbus, MS (FHA|USDA|VA) 1 $205,000 $205,000 $5,271 2.38%
    Blytheville, AR (FHA|USDA|VA) 1 $195,000 $195,000 $2,453 4.13%
    Russellville, AR (FHA|USDA|VA) 1 $185,000 $185,000 $2,624 3.99%
    Murray, KY (FHA|USDA|VA) 1 $165,000 $165,000 $2,798 2.25%
    Fort Payne, AL (FHA|USDA|VA) 1 $165,000 $165,000 $2,609 3.00%
    VALDOSTA, GA (FHA|USDA|VA) 1 $145,000 $145,000 $3,075 3.63%
    Mountain Home, AR (FHA|USDA|VA) 1 $145,000 $145,000 $2,350 4.13%
    Eufaula, AL-GA (FHA|USDA|VA) 1 $135,000 $135,000 $5,469 2.75%
    GULFPORT-BILOXI, MS (FHA|USDA|VA) 1 $115,000 $115,000 $6,021 3.75%
    Greenwood, MS (FHA|USDA|VA) 1 $105,000 $105,000 $4,062 2.38%
    Camden, AR (FHA|USDA|VA) 1 $65,000 $65,000 $1,879 3.25%
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $45,000 $45,000 $3,653 5.25%
    Community Mortgage Corporation's top markets include Memphis, Oxford, Nashville, Little Rock, and Chattanooga among others.

    Their top states include:
  • Tennessee (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)

    • Similar Lenders

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

    Fortera Federal Credit Union
    Similarity Rank: 350
    RIVERTRUST Federal Credit Union
    Similarity Rank: 459
    The First National Bank of Fort Smith
    Similarity Rank: 468
    First Arkansas Bank and Trust
    Similarity Rank: 528
    FIRST WESTERN MORTGAGE, INC.
    Similarity Rank: 585
    Southern Bank
    Similarity Rank: 636
    Old Hickory Credit Union
    Similarity Rank: 680
    TENNESSEE TRUST MORTGAGE, INC
    Similarity Rank: 684
    Legacy Home Loans, LLC
    Similarity Rank: 832
    Emory Alliance Credit Union
    Similarity Rank: 855

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,667 $669,955,000 $251,202 $3,545 3.05%
    FHA 741 $148,935,000 $200,992 $7,016 2.89%
    VA 385 $112,715,000 $292,766 $6,897 2.77%
    USDA 167 $28,935,000 $173,263 $4,851 2.87%

    For 2020, Community Mortgage Corporation's most frequently originated type of loan was Conventional, with 2,667 originations. Their 2nd most popular type was FHA, with 741 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2,684 $642,250,000 $239,288 $5,120 3.00%
    Refi 947 $235,625,000 $248,812 $3,298 2.89%
    Cash Out Refi 329 $82,665,000 $251,261 $3,809 3.18%

    For 2020, Community Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 2,684 originations. The 2nd most popular reason was Refi, with 947 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 3,496 $852,890,000 $243,962 $4,740 3.01%
    15 Year 311 $71,755,000 $230,723 $3,346 2.71%
    20 Year 90 $22,990,000 $255,444 $3,378 3.00%
    Other 50 $10,840,000 $216,800 $3,236 3.05%
    10 Year 13 $2,065,000 $158,846 $3,092 2.80%

    For 2020, Community Mortgage Corporation's most frequently cited loan duration was 30 Year, with 3,496 originations. The 2nd most popular length was 15 Year, with 311 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 2,437 $591,055,000 $242,534
    $<1k 775 $198,195,000 $255,735
    $2k-3k 416 $79,330,000 $190,697
    $3k-4k 201 $47,805,000 $237,836
    $4k-5k 85 $26,505,000 $311,824
    $5k+ 46 $17,650,000 $383,696

    Community Mortgage Corporation's average total fees were $4,740, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 2,437 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 1,541 $379,665,000 $246,376
    3-4% 1,336 $307,200,000 $229,940
    <2.5% 950 $252,550,000 $265,842
    4-5% 111 $18,085,000 $162,928
    5-6% 10 $1,370,000 $137,000
    6-7% 7 $945,000 $135,000
    7-8% 4 $580,000 $145,000
    Over 8% 1 $145,000 $145,000

    During 2020, Community Mortgage Corporation's average interest rate for loans was 3.01%, while their most frequently originated rate bucket for loans was 2.5-3%, with 1,541 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 2,096 $578,760,000 $276,126 $4,792 2.92%
    $100k-200k 1,360 $212,070,000 $155,934 $4,162 3.07%
    $400k-600k 316 $147,430,000 $466,551 $5,214 2.83%
    $100,000 or less 178 $13,690,000 $76,910 $3,316 3.47%
    $600k-1MM 9 $6,925,000 $769,444 $12,139 2.97%
    $1MM+ 1 $1,665,000 $1,665,000 $67,047 2.88%

    2020 saw Community Mortgage Corporation place emphasis on $200k-400k loans with 2,096 originations, totaling $578,760,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 1,041 $209,675,000 $201,417 $4,807 3.01%
    $100k-150k 898 $255,700,000 $284,744 $4,489 2.99%
    $75k-100k 743 $185,915,000 $250,222 $4,849 2.97%
    $50k or less 702 $113,420,000 $161,567 $4,270 3.00%
    $150k-250k 426 $138,500,000 $325,117 $4,258 2.94%
    $250k+ 150 $57,330,000 $382,200 $4,459 3.03%

    Community Mortgage Corporation lent most frequently to those with incomes in the $50k-75k range, with 1,041 originations. The second most popular income band? $100k-150k, with 898 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 916 $225,830,000 $246,539 $4,243 2.96%
    30-36% 727 $170,835,000 $234,986 $4,525 3.00%
    <20% 372 $91,980,000 $247,258 $3,447 2.94%
    41% 159 $40,495,000 $254,686 $4,959 2.98%
    44% 159 $36,325,000 $228,459 $4,982 3.09%
    42% 158 $35,130,000 $222,342 $4,931 3.07%
    39% 157 $40,245,000 $256,338 $4,976 2.99%
    43% 144 $34,920,000 $242,500 $5,217 3.01%
    50-60% 141 $36,585,000 $259,468 $6,817 2.87%
    38% 140 $32,280,000 $230,571 $4,725 3.04%
    36% 134 $32,980,000 $246,119 $4,690 3.05%
    40% 130 $29,990,000 $230,692 $4,676 3.08%
    37% 113 $27,665,000 $244,823 $4,584 3.09%
    45% 106 $25,640,000 $241,887 $4,847 3.02%
    46% 90 $21,210,000 $235,667 $5,022 3.01%
    49% 84 $19,460,000 $231,667 $4,824 2.90%
    48% 76 $19,040,000 $250,526 $4,842 3.11%
    47% 73 $17,535,000 $240,205 $5,128 3.11%
    >60% 10 $3,500,000 $350,000 $10,433 2.94%

    Community Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 916 originations. The next most common DTI ratio? 30-36%, with 727 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 3,208 $781,350,000 $243,563 $4,415 3.00%
    Black 582 $135,000,000 $231,959 $5,546 2.95%
    Asian 83 $21,495,000 $258,976 $4,317 2.91%
    Not provided 52 $14,210,000 $273,269 $3,784 2.89%
    American Indian 22 $4,750,000 $215,909 $4,642 2.96%
    Native Hawaiian or Islander 7 $1,925,000 $275,000 $5,395 2.82%
    Asian Indian 3 $715,000 $238,333 $3,831 3.66%
    Other Asian 1 $485,000 $485,000 $4,124 2.63%
    Native Hawaiian 1 $325,000 $325,000 $8,892 3.50%
    Other Pacific Islander 1 $285,000 $285,000 $6,530 3.50%

    Approval Rates

    Total approvals of all applications
    96.88%

    Community Mortgage Corporation has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    89.52%

    Community Mortgage Corporation has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 3,960 $960,540,000 $242,561

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 10 $1,260,000 $126,000
    Single Family (1-4 Units):Site-Built 3,950 $959,280,000 $242,856

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 46 $8,050,000 $175,000 $3,086 2.84%
    40-60% 271 $61,145,000 $225,627 $3,276 2.84%
    60-80% 1,103 $276,755,000 $250,911 $3,499 3.06%
    80-100% 2,420 $578,110,000 $238,888 $4,877 2.98%
    Over 100% 117 $36,095,000 $308,504 $12,138 2.80%
    Under 20% 3 $385,000 $128,333 $1,969 3.13%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    COMMUNITY BANK SYSTEM, INC. Conventional home mortgage Struggling to pay mortgage 1 33.3%
    COMMUNITY BANK SYSTEM, INC. Conventional home mortgage Trouble during payment process 1 33.3%
    COMMUNITY BANK SYSTEM, INC. Other type of mortgage Closing on a mortgage 1 33.3%