Community Mortgage Rates, Fees & Info

Independence, MO

LEI: 549300MU3SP76R81WW62

Tax ID: 20-8763489

5 stars - Updated: 4/14/24 - out of 5 stars, based on 28 reviews

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

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Mortgage Data

Review & Overview

Community Mortgage is a smaller mortgage company specializing in Home Purchase loans. Community Mortgage 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: Kansas City, St. Louis, Nashville, Sedalia, and Warrensburg among others. We have data for 35 markets. (Some data included below & more in-depth data is available with an active subscription.)

Community Mortgage 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 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 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 6.65% 4/14/24
30 Year Conventional Refi 6.41% 4/14/24
30 Year Cash-out Refi 6.79% 4/14/24
30 Year FHA Purchase 7.33% 4/14/24
30 Year VA Purchase 6.21% 4/14/24
30 Year USDA Purchase 6.91% 4/14/24
15 Year Conventional Purchase 6.10% 4/14/24
15 Year Conventional Refi 5.89% 4/14/24
15 Year Cash-out Refi 5.89% 4/14/24
15 Year VA Refi 6.27% 4/14/24
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 Mortgage Calculator






Your Estimates

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

This is not an official calculator from Community Mortgage. 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

788

Origination Dollar Volume (All Markets)

$196,170,000
Show all (6) awards

Relative Rate

Community Mortgage's average 30 year fixed mortgage rate was 6.65%.

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

This yields a difference of 0.17%.

Relative Fees (Closing Costs)

Community Mortgage's average total fees/closing costs for a 30 year fixed rate mortgage were $5,187.

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
KANSAS CITY, MO-KS (FHA|USDA|VA) 510 $130,060,000 $255,020 $4,972 6.66%
ST. LOUIS, MO-IL (FHA|USDA|VA) 54 $14,600,000 $270,370 $5,958 6.68%
Outside of Metro Areas 77 $14,365,000 $186,558 $5,092 6.64%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 36 $12,420,000 $345,000 $6,027 6.44%
Sedalia, MO (FHA|USDA|VA) 28 $4,850,000 $173,214 $4,512 6.68%
Warrensburg, MO (FHA|USDA|VA) 13 $3,555,000 $273,462 $7,333 6.43%
ST. JOSEPH, MO-KS (FHA|USDA|VA) 16 $3,430,000 $214,375 $5,179 6.62%
SPRINGFIELD, MO (FHA|USDA|VA) 11 $2,315,000 $210,455 $5,106 6.74%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 5 $1,525,000 $305,000 $3,541 6.30%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 2 $1,220,000 $610,000 $8,299 6.56%
LAWRENCE, KS (FHA|USDA|VA) 2 $840,000 $420,000 $7,229 7.31%
JEFFERSON CITY, MO (FHA|USDA|VA) 4 $810,000 $202,500 $5,897 6.72%
COLUMBIA, MO (FHA|USDA|VA) 4 $570,000 $142,500 $3,478 6.31%
WICHITA, KS (FHA|USDA|VA) 2 $490,000 $245,000 $6,766 6.94%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $485,000 $485,000 $13,699 7.13%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $465,000 $465,000 $14,999 5.75%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1 $445,000 $445,000 $17,140 6.25%
Marshall, MO (FHA|USDA|VA) 2 $410,000 $205,000 $8,856 6.81%
FORT COLLINS, CO (FHA|USDA|VA) 1 $405,000 $405,000 $2,173 5.99%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $335,000 $335,000 $10,123 5.88%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $305,000 $305,000 $3,953 8.13%
MANHATTAN, KS (FHA|USDA|VA) 2 $240,000 $120,000 $2,750 7.88%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 2 $240,000 $120,000 $5,062 7.00%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $235,000 $235,000 $13,936 6.25%
Cañon City, CO (FHA|USDA|VA) 1 $205,000 $205,000 $2,813 6.13%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $205,000 $205,000 $6,183 7.63%
KNOXVILLE, TN (FHA|USDA|VA) 1 $165,000 $165,000 $3,032 6.13%
Lebanon, MO (FHA|USDA|VA) 1 $165,000 $165,000 $4,653 7.13%
Coffeyville, KS (FHA|USDA|VA) 1 $155,000 $155,000 $3,300 6.88%
TOPEKA, KS (FHA|USDA|VA) 1 $145,000 $145,000 $4,875 7.13%
Ottawa, KS (FHA|USDA|VA) 1 $135,000 $135,000 $2,749 6.25%
Salina, KS (FHA|USDA|VA) 1 $105,000 $105,000 $3,711 7.50%
West Plains, MO (FHA|USDA|VA) 1 $95,000 $95,000 $3,285 5.63%
Great Bend, KS (FHA|USDA|VA) 1 $95,000 $95,000 $3,598 6.25%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $85,000 $85,000 $5,252 6.13%
Community Mortgage's top markets include Kansas City, St. Louis, Nashville, Sedalia, and Warrensburg among others.

Their top states include:
  • Missouri (FHA|USDA|VA)
  • Kansas (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Similar Lenders

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

    First Farmers and Merchants Bank
    Similarity Rank: 130
    MISSOURI Credit Union
    Similarity Rank: 204
    The Bank of Missouri
    Similarity Rank: 216
    Truity Federal Credit Union
    Similarity Rank: 236
    MAINSTREET FEDERAL CREDIT UNION
    Similarity Rank: 280
    1ST MIDAMERICA
    Similarity Rank: 286
    CNB Bank And Trust, N.A.
    Similarity Rank: 323
    FIRST COMMUNITY
    Similarity Rank: 336
    First National Bank of Waterloo
    Similarity Rank: 340

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 483 $124,095,000 $256,925 $3,795 6.69%
    FHA 215 $48,745,000 $226,721 $7,944 6.54%
    VA 64 $19,260,000 $300,938 $6,547 6.64%
    USDA 26 $4,070,000 $156,538 $4,553 6.77%

    For 2023, Community Mortgage's most frequently originated type of loan was Conventional, with 483 originations. Their 2nd most popular type was FHA, with 215 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 736 $184,170,000 $250,231 $5,159 6.63%
    Cash Out Refi 36 $7,000,000 $194,444 $5,212 6.91%
    Refi 16 $5,000,000 $312,500 $5,860 6.81%

    For 2023, Community Mortgage's most frequently cited loan purpose was Home Purchase, with 736 originations. The 2nd most popular reason was Cash Out Refi, with 36 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 780 $194,370,000 $249,192 $5,187 6.65%
    15 Year 5 $1,175,000 $235,000 $4,184 6.02%
    Other 2 $200,000 $100,000 $2,695 6.69%
    20 Year 1 $425,000 $425,000 $5,941 6.38%

    For 2023, Community Mortgage's most frequently cited loan duration was 30 Year, with 780 originations. The 2nd most popular length was 15 Year, with 5 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 306 $73,660,000 $240,719
    $<1k 199 $50,195,000 $252,236
    $2k-3k 91 $20,625,000 $226,648
    $3k-4k 85 $20,455,000 $240,647
    $4k-5k 45 $12,205,000 $271,222
    $5k+ 45 $15,635,000 $347,444

    Community Mortgage's average total fees were $5,187, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 306 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 463 $111,725,000 $241,307
    7-8% 190 $51,180,000 $269,368
    5-6% 116 $28,290,000 $243,879
    Over 8% 9 $2,525,000 $280,556
    4-5% 8 $2,350,000 $293,750
    <2.5% 1 $5,000 $5,000
    3-4% 1 $95,000 $95,000

    During 2023, Community Mortgage's average interest rate for loans was 6.65%, while their most frequently originated rate bucket for loans was 6-7%, with 463 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 369 $102,635,000 $278,144 $5,748 6.74%
    $100k-200k 267 $41,055,000 $153,764 $4,341 6.59%
    $400k-600k 85 $39,605,000 $465,941 $6,858 6.62%
    $100,000 or less 53 $3,735,000 $70,472 $2,971 6.36%
    $600k-1MM 14 $9,140,000 $652,857 $3,946 6.64%

    2023 saw Community Mortgage place emphasis on $200k-400k loans with 369 originations, totaling $102,635,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 231 $43,425,000 $187,987 $4,688 6.57%
    $100k-150k 164 $50,200,000 $306,098 $5,474 6.69%
    $75k-100k 154 $38,680,000 $251,169 $6,182 6.75%
    $50k or less 113 $15,615,000 $138,186 $4,365 6.36%
    $150k-250k 90 $33,030,000 $367,000 $5,191 6.81%
    $250k+ 36 $15,220,000 $422,778 $5,161 7.00%

    Community Mortgage lent most frequently to those with incomes in the $50k-75k range, with 231 originations. The second most popular income band? $100k-150k, with 164 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 139 $35,285,000 $253,849 $4,752 6.73%
    20-30% 108 $25,620,000 $237,222 $3,989 6.60%
    50-60% 85 $23,175,000 $272,647 $8,163 6.51%
    44% 47 $13,075,000 $278,191 $6,405 6.52%
    49% 42 $11,460,000 $272,857 $5,179 6.74%
    42% 37 $10,255,000 $277,162 $5,458 6.40%
    43% 35 $8,215,000 $234,714 $5,495 6.64%
    48% 34 $7,940,000 $233,529 $5,727 6.64%
    40% 32 $7,650,000 $239,063 $4,770 6.62%
    41% 32 $7,230,000 $225,938 $4,506 6.78%
    45% 31 $7,145,000 $230,484 $4,594 6.77%
    <20% 28 $4,560,000 $162,857 $3,465 6.45%
    37% 25 $5,485,000 $219,400 $5,379 6.83%
    46% 25 $5,225,000 $209,000 $4,579 6.64%
    38% 23 $6,755,000 $293,696 $4,474 6.77%
    39% 23 $5,995,000 $260,652 $4,399 6.85%
    36% 21 $5,995,000 $285,476 $4,370 6.70%
    47% 19 $4,545,000 $239,211 $4,965 6.78%
    >60% 2 $560,000 $280,000 $4,525 6.50%

    Community Mortgage lent most frequently to those with DTI ratios of 30-36%, with 139 originations. The next most common DTI ratio? 20-30%, with 108 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 683 $169,105,000 $247,592 $5,100 6.64%
    Black 49 $12,115,000 $247,245 $6,582 6.50%
    Not provided 38 $9,590,000 $252,368 $5,100 6.80%
    Asian 14 $4,440,000 $317,143 $4,054 6.91%
    American Indian 4 $920,000 $230,000 $5,490 6.94%

    Approval Rates

    Total approvals of all applications
    98.59%

    Community Mortgage 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
    84.39%

    Community Mortgage has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 788 $196,170,000 $248,947

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    788 $196,170,000 $248,947

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 23 $2,615,000 $113,696 $2,911 6.35%
    40-60% 52 $12,490,000 $240,192 $3,895 6.61%
    60-80% 154 $39,070,000 $253,701 $4,092 6.81%
    80-100% 532 $136,060,000 $255,752 $5,587 6.63%
    Over 100% 21 $5,825,000 $277,381 $9,279 6.73%
    Under 20% 6 $110,000 $18,333 $4 5.02%