Cbm Mortgage Rates, Fees & Info

FRONT ROYAL, VA

LEI: 549300NBUJWYNN8AXN69

Tax ID: 11-3746866

3.8 stars - out of 5 stars, based on 45 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Cbm Mortgage is a smaller mortgage company specializing in Home Purchase loans. Cbm Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets include Washington, Virginia Beach, Winchester, Crestview, and Hagerstown among others. Cbm Mortgage has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Cbm Mortgage is typically a high fee lendor.


Originations

2,045

Origination Dollar Volume (All Markets)

$555,085,000
Show all (6) awards

Relative Rate

Cbm Mortgage 's average 30 year fixed rate mortgage of loans were 3.11%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.04%.

Relative Fees

Cbm Mortgage 's average total fees for a 30 year fixed rate mortgage are $6,034.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 582 $172,070,000 $295,653 $5,435 3.11%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 562 $153,200,000 $272,598 $6,598 3.01%
WINCHESTER, VA-WV (FHA|USDA|VA) 168 $45,480,000 $270,714 $5,354 3.15%
Outside of Metro Areas 194 $43,780,000 $225,670 $5,378 3.16%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 101 $30,555,000 $302,525 $8,659 2.96%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 112 $25,530,000 $227,946 $5,041 3.20%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 46 $14,200,000 $308,696 $9,225 2.92%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 39 $10,165,000 $260,641 $4,676 3.12%
RALEIGH-CARY, NC (FHA|USDA|VA) 34 $10,110,000 $297,353 $1,792 2.89%
STAUNTON, VA (FHA|USDA|VA) 48 $9,560,000 $199,167 $5,362 3.24%
HARRISONBURG, VA (FHA|USDA|VA) 28 $5,730,000 $204,643 $5,380 3.11%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 19 $4,915,000 $258,684 $5,416 3.08%
Kill Devil Hills, NC (FHA|USDA|VA) 6 $3,490,000 $581,667 $4,882 3.65%
RICHMOND, VA (FHA|USDA|VA) 11 $2,835,000 $257,727 $4,256 3.19%
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 12 $2,510,000 $209,167 $6,185 3.09%
Elizabeth City, NC (FHA|USDA|VA) 9 $2,165,000 $240,556 $4,009 3.25%
PANAMA CITY, FL (FHA|USDA|VA) 7 $1,725,000 $246,429 $6,575 3.05%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 5 $1,605,000 $321,000 $1,577 2.90%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 4 $1,320,000 $330,000 $6,336 3.50%
FAYETTEVILLE, NC (FHA|USDA|VA) 4 $1,100,000 $275,000 $7,576 3.06%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 5 $975,000 $195,000 $7,053 2.78%
SALISBURY, MD-DE (FHA|USDA|VA) 2 $940,000 $470,000 $4,794 2.81%
CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 3 $915,000 $305,000 $6,126 3.21%
GETTYSBURG, PA (FHA|USDA|VA) 3 $905,000 $301,667 $6,794 3.54%
YORK-HANOVER, PA (FHA|USDA|VA) 4 $740,000 $185,000 $5,214 3.00%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 2 $690,000 $345,000 $3,798 3.50%
LYNCHBURG, VA (FHA|USDA|VA) 4 $680,000 $170,000 $4,620 3.41%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 2 $660,000 $330,000 $3,562 3.13%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $640,000 $320,000 $8,637 3.25%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 2 $630,000 $315,000 $3,041 3.19%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $535,000 $535,000 $5,688 2.88%
ROANOKE, VA (FHA|USDA|VA) 2 $420,000 $210,000 $3,851 3.25%
ROCKY MOUNT, NC (FHA|USDA|VA) 1 $385,000 $385,000 $3,611 3.25%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $355,000 $355,000 $4,337 3.25%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $355,000 $355,000 $6,324 3.38%
WILLIAMSPORT, PA (FHA|USDA|VA) 2 $350,000 $175,000 $2,991 3.13%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 2 $290,000 $145,000 $3,998 3.44%
Bluefield, WV-VA (FHA|USDA|VA) 2 $290,000 $145,000 $5,360 3.13%
READING, PA (FHA|USDA|VA) 1 $255,000 $255,000 $8,996 3.25%
THE VILLAGES, FL (FHA|USDA|VA) 1 $255,000 $255,000 $9,682 2.88%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $255,000 $255,000 $6,675 2.75%
PITTSBURGH, PA (FHA|USDA|VA) 1 $225,000 $225,000 $6,998 3.25%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $205,000 $205,000 $2,758 2.88%
CUMBERLAND, MD-WV (FHA|USDA|VA) 1 $155,000 $155,000 $5,079 3.25%
Danville, VA (FHA|USDA|VA) 1 $155,000 $155,000 $3,644 2.50%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $155,000 $155,000 $3,392 3.50%
BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 1 $155,000 $155,000 $7,655 3.63%
LANCASTER, PA (FHA|USDA|VA) 1 $145,000 $145,000 $3,799 3.00%
CHARLESTON, WV (FHA|USDA|VA) 1 $135,000 $135,000 $3,540 3.25%
ASHEVILLE, NC (FHA|USDA|VA) 1 $125,000 $125,000 $1,962 2.88%
JOHNSTOWN, PA (FHA|USDA|VA) 1 $65,000 $65,000 $3,617 3.63%

Cbm Mortgage 's top markets include Washington, Virginia Beach, Winchester, Crestview, and Hagerstown among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,064 $276,820,000 $260,169 $3,780 3.19%
VA 470 $152,300,000 $324,043 $9,057 2.92%
FHA 326 $84,210,000 $258,313 $8,041 3.09%
USDA 185 $41,755,000 $225,703 $5,941 2.95%

For the 2021 period, Cbm Mortgage 's most frequently originated loan type of loans were Conventional, with 1,064 originations. Their 2nd most popular type is VA, with 470 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 1,397 $387,255,000 $277,205 $6,646 3.13%
Refi 416 $107,350,000 $258,053 $3,842 2.89%
Cash Out Refi 225 $59,425,000 $264,111 $4,899 3.20%
Other 6 $750,000 $125,000 $3,168 3.40%
Home Improvement 1 $305,000 $305,000 $3,220 2.88%

For the 2021, Cbm Mortgage 's most frequently cited loan purpose of loans were Home Purchase, with 1,397 originations. The 2nd most popular reason of loans were Refi, with 416 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 1,926 $527,220,000 $273,738 $6,034 3.11%
15 Year 82 $18,190,000 $221,829 $3,006 2.69%
20 Year 26 $7,570,000 $291,154 $3,994 2.96%
10 Year 7 $1,295,000 $185,000 $3,641 2.57%
Other 4 $810,000 $202,500 $3,197 3.22%

For the 2021, Cbm Mortgage 's most frequently cited loan length of loans were 30 Year, with 1,926 originations. The 2nd most popular length of loans were 15 Year, with 82 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 1,033 $265,875,000 $257,381
$<1k 684 $182,450,000 $266,740
$2k-3k 153 $40,475,000 $264,542
$3k-4k 95 $32,005,000 $336,895
$5k+ 79 $34,085,000 $431,456

$6,034 of loans were Cbm Mortgage 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 1,033 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 1,035 $279,755,000 $270,295
2.5-3% 764 $208,590,000 $273,024
<2.5% 211 $58,735,000 $278,365
4-5% 35 $8,005,000 $228,714

During 2021, Cbm Mortgage 's average interest rate of loans were 3.11%, while their most frequently originated rate bucket of loans were 3-4%, with 1,035 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 1,244 $350,550,000 $281,793 $6,342 3.07%
$100k-200k 475 $76,205,000 $160,432 $4,159 3.10%
$400k-600k 208 $98,220,000 $472,212 $7,496 3.05%
$100,000 or less 83 $3,885,000 $46,807 $1,728 3.33%
$600k-1MM 33 $23,525,000 $712,879 $12,244 3.23%
$1MM+ 2 $2,700,000 $1,350,000 $20,746 4.00%

2021 saw Cbm Mortgage place emphasis on $200k-400k loans with 1,244 originations, totaling $350,550,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 644 $155,290,000 $241,134 $6,218 3.10%
$50k or less 400 $74,920,000 $187,300 $4,858 3.01%
$75k-100k 383 $110,215,000 $287,768 $6,307 3.10%
$100k-150k 335 $105,525,000 $315,000 $6,114 3.15%
$150k-250k 210 $81,150,000 $386,429 $5,740 3.15%
$250k+ 38 $18,640,000 $490,526 $6,496 3.21%

Cbm Mortgage lent most frequently to those with incomes in the $50k-75k range, with 644 originations. The second most popular income band? $50k or less, with 400 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
30-36% 358 $96,600,000 $269,832 $5,785 3.12%
20-30% 347 $92,155,000 $265,576 $4,865 3.07%
50-60% 153 $45,295,000 $296,046 $8,820 3.05%
44% 100 $26,390,000 $263,900 $6,216 3.17%
<20% 90 $20,930,000 $232,556 $3,538 3.02%
40% 88 $23,380,000 $265,682 $5,832 3.21%
37% 86 $24,770,000 $288,023 $5,445 3.09%
42% 85 $22,595,000 $265,824 $6,277 3.15%
41% 85 $23,055,000 $271,235 $5,246 3.15%
39% 84 $23,110,000 $275,119 $5,829 3.15%
38% 82 $22,130,000 $269,878 $5,626 3.16%
45% 69 $20,025,000 $290,217 $6,772 3.20%
49% 68 $19,090,000 $280,735 $6,596 3.14%
36% 65 $17,285,000 $265,923 $5,705 3.04%
43% 62 $16,930,000 $273,065 $5,805 3.19%
48% 52 $15,560,000 $299,231 $7,751 2.96%
46% 48 $13,870,000 $288,958 $6,543 3.10%
47% 42 $11,030,000 $262,619 $6,987 3.07%
>60% 3 $1,055,000 $351,667 $10,616 3.17%

Cbm Mortgage lent most frequently to those with DTI ratios of 30-36%, with 358 originations. The next most common DTI ratio? 20-30%, with 347 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,504 $404,960,000 $269,255 $5,719 3.08%
Not provided 261 $71,445,000 $273,736 $6,361 3.08%
Black 229 $63,335,000 $276,572 $6,275 3.14%
Asian 35 $10,955,000 $313,000 $5,087 3.21%
American Indian 10 $2,610,000 $261,000 $9,295 3.00%
Native Hawaiian 3 $625,000 $208,333 $4,142 3.42%
Asian Indian 1 $455,000 $455,000 $4,234 2.50%
Guamanian 1 $405,000 $405,000 $12,842 3.00%
Native Hawiian 1 $295,000 $295,000 $10,528 2.88%

Approval Rates

Total approvals of all applications
98.07%

Cbm 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
86.94%

Cbm Mortgage has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 2,045 $555,085,000 $271,435

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
2,045 $555,085,000 $271,435

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 34 $5,110,000 $150,294 $2,994 2.90%
40-60% 130 $27,500,000 $211,538 $3,357 2.99%
60-80% 470 $129,160,000 $274,809 $4,169 3.20%
80-100% 1,146 $324,500,000 $283,159 $6,159 3.09%
Over 100% 187 $60,235,000 $322,112 $12,237 2.96%
Under 20% 43 $645,000 $15,000 $399 3.25%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
C2 Financial Corporation Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
C2 Financial Corporation Conventional home mortgage Closing on a mortgage 1 50.0%