Commonwealth Bank And Trust Company Mortgage Rates, Fees & Info
Louisville, KYLEI: 549300QO5LH5SP6I8C79
Tax ID: 61-0337590
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Mortgage Data
Review & Overview
Commonwealth Bank And Trust Company is a smaller bank specializing in Refi, Home Purchase, and Cash Out Refi loans. Commonwealth Bank And Trust Company has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Louisville, Cincinnati, Elizabethtown, Crestview, and Columbus among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)Commonwealth Bank And Trust Company 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 Bank And Trust Company 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 5.27% | 4/28/24 |
| 30 Year Conventional Purchase | 6.74% | 4/28/24 |
| 30 Year Conventional Refi | 6.78% | 4/28/24 |
| 30 Year Cash-out Refi | 6.93% | 4/28/24 |
| 30 Year FHA Purchase | 7.93% | 4/28/24 |
| 30 Year FHA Refi | 7.32% | 4/28/24 |
| 30 Year VA Purchase | 6.32% | 4/28/24 |
| 30 Year VA Refi | 6.27% | 4/28/24 |
| 30 Year USDA Purchase | 6.65% | 4/28/24 |
| 15 Year Conventional Purchase | 5.93% | 4/28/24 |
| 15 Year Conventional Refi | 6.02% | 4/28/24 |
| 15 Year Cash-out Refi | 6.02% | 4/28/24 |
| 15 Year FHA Refi | 5.68% | 4/28/24 |
| 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. | ||
Commonwealth Bank And Trust Company Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
99Origination Dollar Volume (All Markets)
$20,075,000Awards
Commonwealth Bank and Trust Company - 2022
Commonwealth Bank and Trust Company is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| LOUISVILLE, KY (FHA|USDA|VA) | 83 | $17,445,000 | $210,181 | $2,942 | 3.17% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 7 | $635,000 | $90,714 | $992 | 3.30% |
| ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) | 3 | $535,000 | $178,333 | $5,181 | 3.13% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $0 | 3.88% |
| COLUMBUS, OH (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $2,615 | 3.38% |
| Bardstown, KY (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $2,717 | 4.25% |
| Glasgow, KY (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,946 | 2.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against Commonwealth Bank and Trust Company based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2022, Commonwealth Bank And Trust Company's most frequently originated type of loan was Conventional, with 55 originations. Their 2nd most popular type was HELOC, with 35 originations.
Loan Reason
For 2022, Commonwealth Bank And Trust Company's most frequently cited loan purpose was Refi, with 27 originations. The 2nd most popular reason was Home Purchase, with 26 originations.
Loan Duration/Length
For 2022, Commonwealth Bank And Trust Company's most frequently cited loan duration was 30 Year, with 40 originations. The 2nd most popular length was 10 Year, with 37 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 42 | $9,740,000 | $231,905 |
| $1k-2k | 12 | $1,940,000 | $161,667 |
| $2k-3k | 4 | $1,470,000 | $367,500 |
| $4k-5k | 1 | $175,000 | $175,000 |
Commonwealth Bank And Trust Company's average total fees were $3,344, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 42 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 39 | $9,255,000 | $237,308 |
| <2.5% | 36 | $5,000,000 | $138,889 |
| 4-5% | 11 | $2,685,000 | $244,091 |
| 2.5-3% | 10 | $2,660,000 | $266,000 |
| 5-6% | 3 | $475,000 | $158,333 |
During 2022, Commonwealth Bank And Trust Company's average interest rate for loans was 3.67%, while their most frequently originated rate bucket for loans was 3-4%, with 39 originations.
Loan Sizing
2022 saw Commonwealth Bank And Trust Company place emphasis on $100k-200k loans with 35 originations, totaling $5,395,000 in origination value.
Applicant Income
Commonwealth Bank And Trust Company lent most frequently to those with incomes in the $50k or less range, with 21 originations. The second most popular income band? $50k-75k, with 20 originations.
Applicant Debt to Income Ratio
Commonwealth Bank And Trust Company lent most frequently to those with DTI ratios of 20-30%, with 29 originations. The next most common DTI ratio? 30-36%, with 19 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications88.74%
Commonwealth Bank And Trust Company has an average approval rate.
Pick Rate
Approvals leading to origination71.72%
Commonwealth Bank And Trust Company has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 99 | $20,075,000 | $202,778 |