Community First Bank Mortgage Rates, Fees & Info

Walhalla, SC

LEI: 549300RZFB670NG8MF92

Tax ID: 57-0899390

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

Review & Overview

Community First Bank is a smaller bank specializing in Home Purchase and Refi loans. Community First Bank has a high proportion of conventional loans. Their top markets by origination volume include: Seneca, Charlotte, Greenville, Toccoa, and Atlanta among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

Community First Bank 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 First Bank 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.

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	6.50%	4/28/24
30 Year Conventional Refi	6.86%	4/28/24
30 Year Cash-out Refi	6.99%	4/28/24
15 Year Conventional Purchase	5.94%	4/28/24
15 Year Conventional Refi	7.47%	4/28/24
15 Year Cash-out Refi	7.47%	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.

Community First Bank Mortgage Calculator

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This is not an official calculator from Community First Bank. 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

Origination Dollar Volume (All Markets)

$11,560,000

Employee count

110

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
Seneca, SC (FHA\|USDA\|VA)	18	$4,600,000	$255,556	$2,110	5.45%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA\|USDA\|VA)	6	$3,160,000	$526,667	$8,444	5.50%
GREENVILLE-ANDERSON, SC (FHA\|USDA\|VA)	14	$2,040,000	$145,714	$2,563	5.88%
Outside of Metro Areas	3	$1,115,000	$371,667	$2,743	4.88%
Toccoa, GA (FHA\|USDA\|VA)	2	$350,000	$175,000	$3,611	4.31%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA\|USDA\|VA)	1	$295,000	$295,000	$325	4.88%

Community First Bank's top markets include Seneca, Charlotte, Greenville, Toccoa, and Atlanta among others.

Their top states include:

South Carolina (FHA|USDA|VA)

North Carolina (FHA|USDA|VA)

Georgia (FHA|USDA|VA)

Similar Lenders

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

GREENVILLE FEDERAL CREDIT UNION
Similarity Rank: 285

Appalachian Community Federal Credit Union
Similarity Rank: 418

First Horizon Bank
Similarity Rank: 512

FOUNDERS FEDERAL CREDIT UNION
Similarity Rank: 561

BLMC, INC
Similarity Rank: 755

FIRST BANCORP
Similarity Rank: 756

First Piedmont Federal Savings and Loan Association of Gaffney
Similarity Rank: 780

CPM Federal Credit Union
Similarity Rank: 882

Entegra Bank
Similarity Rank: 1036

Amerisouth Mortgage Company
Similarity Rank: 1131

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	44	$11,560,000	$262,727	$2,879	5.49%

For 2018, Community First Bank's most frequently originated type of loan was Conventional, with 44 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	26	$7,130,000	$274,231	$1,317	5.38%
Refi	14	$3,550,000	$253,571	$4,253	5.69%
Cash Out Refi	3	$795,000	$265,000	$4,690	5.33%
Home Improvement	1	$85,000	$85,000	$0	5.90%

For 2018, Community First Bank's most frequently cited loan purpose was Home Purchase, with 26 originations. The 2nd most popular reason was Refi, with 14 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	22	$8,010,000	$364,091	$3,238	5.15%
5 Year	17	$3,145,000	$185,000	$0	5.40%
15 Year	4	$230,000	$57,500	$997	7.56%
3 Year	1	$175,000	$175,000	$0	6.00%

For 2018, Community First Bank's most frequently cited loan duration was 30 Year, with 22 originations. The 2nd most popular length was 5 Year, with 17 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	5	$815,000	$163,000
$1k-2k	4	$570,000	$142,500
$2k-3k	4	$1,160,000	$290,000
$3k-4k	1	$375,000	$375,000
$4k-5k	1	$455,000	$455,000
$5k+	1	$915,000	$915,000

Community First Bank's average total fees were $3,238, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 5 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
5-6%	23	$7,175,000	$311,957
4-5%	15	$3,605,000	$240,333
6-7%	3	$585,000	$195,000
7-8%	2	$180,000	$90,000
Over 8%	1	$15,000	$15,000

During 2018, Community First Bank's average interest rate for loans was 5.15%, while their most frequently originated rate bucket for loans was 5-6%, with 23 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	14	$720,000	$51,429	$1,212	5.73%
$100k-200k	12	$1,740,000	$145,000	$2,546	5.58%
$200k-400k	10	$2,890,000	$289,000	$2,796	5.30%
$400k-600k	4	$2,060,000	$515,000	$4,117	4.94%
$600k-1MM	3	$2,395,000	$798,333	$12,725	5.42%
$1MM+	1	$1,755,000	$1,755,000	$650	5.25%

2018 saw Community First Bank place emphasis on $100,000 or less loans with 14 originations, totaling $720,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$250k+	8	$5,060,000	$632,500	$4,746	5.19%
$100k-150k	5	$855,000	$171,000	$1,016	6.05%
$50k-75k	5	$575,000	$115,000	$1,223	5.75%
$50k or less	5	$425,000	$85,000	$2,901	5.66%
$150k-250k	4	$1,220,000	$305,000	$4,312	4.88%
$75k-100k	2	$340,000	$170,000	$471	6.00%

Community First Bank lent most frequently to those with incomes in the $250k+ range, with 8 originations. The second most popular income band? $100k-150k, with 5 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	10	$2,890,000	$289,000	$1,915	5.16%
30-36%	4	$690,000	$172,500	$4,301	5.13%
<20%	3	$565,000	$188,333	$4,201	5.18%
43%	2	$340,000	$170,000	$471	6.00%
40%	2	$1,210,000	$605,000	$6,525	5.19%
50-60%	2	$1,770,000	$885,000	$823	7.25%
38%	1	$55,000	$55,000	$0	5.25%
46%	1	$175,000	$175,000	$4,163	5.25%
47%	1	$35,000	$35,000	$2,050	6.25%
48%	1	$155,000	$155,000	$325	7.63%
39%	1	$455,000	$455,000	$6,961	5.75%
>60%	1	$135,000	$135,000	$0	5.63%

Community First Bank lent most frequently to those with DTI ratios of 20-30%, with 10 originations. The next most common DTI ratio? 30-36%, with 4 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	28	$8,300,000	$296,429	$2,825	5.54%
Not applicable	15	$3,085,000	$205,667	$0	5.41%
Asian	1	$175,000	$175,000	$4,163	5.25%

Approval Rates

Total approvals of all applications
92.11%

Community First Bank has an average approval rate.

Pick Rate

Approvals leading to origination
50.00%

Community First Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	44	$11,560,000	$262,727

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	3	$1,655,000	$551,667
Single Family (1-4 Units):Manufactured	1	$15,000	$15,000
Single Family (1-4 Units):Site-Built	40	$9,890,000	$247,250

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	4	$660,000	$165,000	$2,812	6.88%
40-60%	6	$1,550,000	$258,333	$3,112	5.57%
60-80%	23	$7,555,000	$328,478	$3,491	5.29%
80-100%	10	$1,770,000	$177,000	$2,063	5.17%
Under 20%	1	$25,000	$25,000	$616	7.13%

Complaints

Bank Name	Product	Issue	2018 CPFB Complaints	% of Total Issues
Community Loan Fund of New Jersey, Inc	Conventional home mortgage	Struggling to pay mortgage	1	100.0%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Community First Bank, Inc.	1600 Sandifer Boulevard Seneca, SC 29678	Full Service B&M	$54,971
Community First Bank, Inc.	2007 E. Greenville Street Anderson, SC 29621	Full Service B&M	$14,454
Community First Bank, Inc.	208 East Main Street Williamston, SC 29697	Full Service B&M	$58,263
Community First Bank, Inc.	306 East Windsor Street Westminster, SC 29693	Full Service B&M	$42,876
Community First Bank, Inc.	3685 Blue Ridge Boulevard Walhalla, SC 29691	Full Service B&M	$83,541
Community First Bank, Inc.	4002 Clemson Blvd Anderson, SC 29621	Full Service B&M	$47,237
Community First Bank, Inc.	449 Highway 123 Bypass Seneca, SC 29678	Full Service B&M	$30,264

For 2018, Community First Bank had 7 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$15,235
Net interest income	$13,293
Total noninterest income	$2,163
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$949
Trading account gains and fees	$0
Additional Noninterest Income	$1,214
Pre-tax net operating income	$768
Securities gains (or losses, -)	$-50
Income before extraordinary items	$4,392
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$4,392
Minority interest net income	$0
Net income	$4,392
Sale, conversion, retirement of capital stock, net	$125
Net operating income	$4,442

Community First Bank's gross interest income from loans was $15,235,000.
Community First Bank's net interest income from loans was $13,293,000.
Community First Bank's fee based income from loans was $949,000.
Community First Bank's net income from loans was $4,392,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$1,942
Provision for credit losses	$148
Total noninterest expense	$14,540
Salaries and employee benefits	$8,566
Premises and equipment expense	$1,244
Additional noninterest expense	$4,730
Applicable income taxes	$-3,674
Net charge-offs	$-74
Cash dividends	$553

Community First Bank's interest expense for loans was $1,942,000.
Community First Bank's payroll and benefits expense were $8,566,000.
Community First Bank's property, plant and equipment expenses $1,244,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	0.0%
Real Estate loans	0.0%
Construction & Land Development loans	0.0%
Nonfarm, nonresidential loans	0.0%
Multifamily residential loans	0.0%
1-4 family residential loans	0.0%
HELOC loans	0.0%
All other family	0.0%
Commercial & industrial loans	0.0%
Personal loans	0.0%
Credit card loans	0.0%
Other individual loans	0.0%
Auto loans	0.0%
Other consumer loans	0.0%
Unsecured commercial real estate loans	0.0%

Deposits

Type	Value (in 000's)
Total deposits	$330,910
Deposits held in domestic offices	$330,910
Deposits by Individuals, partnerships, and corporations	$326,153
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$4,513
Deposits by Commercial banks and other depository institutions in U.S.	$244
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$128,985
Demand deposits	$60,098
Nontransaction accounts	$201,925
Money market deposit accounts (MMDAs)	$26,826
Other savings deposits (excluding MMDAs)	$38,651
Total time deposits	$136,448
Total time and savings deposits	$270,812
Noninterest-bearing deposits	$60,098
Interest-bearing deposits	$270,812
Retail deposits	$317,346
IRAs and Keogh plan accounts	$19,206
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$381,742
Cash & Balances due from depository institutions	$29,195
Interest-bearing balances	$25,719
Total securities	$47,533
Federal funds sold & reverse repurchase	$0
Net loans and leases	$275,305
Loan and leases loss allowance	$3,576
Trading account assets	$0
Bank premises and fixed assets	$10,095
Other real estate owned	$580
Goodwill and other intangibles	$81
All other assets	$18,953

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$381,742
Total Liabilities	$346,592
Total deposits	$330,910
Interest-bearing deposits	$270,812
Deposits held in domestic offices	$330,910
% insured (estimated)	$93
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$10,000
Subordinated debt	$0
All other liabilities	$5,682

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$275,305
Loan and leases loss allowance	$3,576
Total loans and leases (domestic)	$278,881
All real estate loans	$191,729
Real estate loans in domestic offices	$191,729
Construction and development loans	$15,357
Residential 1-4 family construction	$2,392
Other construction, all land development and other land	$12,965
Loans secured by nonfarm nonresidential properties	$103,888
Nonfarm nonresidential secured by owner-occupied properties	$53,373
Commercial real estate & other non-farm, non-residential	$50,515
Multifamily residential real estate	$4,608
1-4 family residential loans	$67,138
Farmland loans	$738
Loans held in foreign offices	$0
Farm loans	$400
Commercial and industrial loans	$9,029
To non-U.S. addressees	$0
Loans to individuals	$76,886
Credit card loans	$1,249
Related Plans	$272
Consumer Auto Loans	$6,919
Other loans to individuals	$68,446
All other loans & leases	$837
Loans to foreign governments and official institutions	$0
Other loans	$202
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$2,509
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$2,732
Non 1-4 family restructured loans & leases	$2,128
Total loans and leases (foreign)	$0

Community First Bank had $275,305,000 of loans outstanding in 2018. $191,729,000 of loans were in real estate loans. $15,357,000 of loans were in development loans. $4,608,000 of loans were in multifamily mortgage loans. $67,138,000 of loans were in 1-4 family mortgage loans. $400,000 of loans were in farm loans. $1,249,000 of loans were in credit card loans. $6,919,000 of loans were in the auto loan category.

Small Business Loans

Categorization	# of Loans in Category	$ amount of loans (in 000's)	Average $/loan
Nonfarm, nonresidential loans - <$1MM	204	$49,444	$242,373
Nonfarm, nonresidential loans - <$100k	48	$1,993	$41,521
Nonfarm, nonresidential loans - $100-250k	62	$8,143	$131,339
Nonfarm, nonresidential loans - $250k-1MM	94	$39,308	$418,170
Commercial & Industrial, US addressed loans - <$1MM	139	$5,861	$42,165
Commercial & Industrial, US addressed loans - <$100k	104	$2,106	$20,250
Commercial & Industrial, US addressed loans - $100-250k	30	$2,612	$87,067
Commercial & Industrial, US addressed loans - $250k-1MM	5	$1,143	$228,600
Farmland loans - <$1MM	7	$738	$105,429
Farmland loans - <$100k	3	$189	$63,000
Farmland loans - $100-250k	3	$280	$93,333
Farmland loans - $250k-1MM	1	$269	$269,000
Agriculture operations loans - <$1MM	1	$400	$400,000
Agriculture operations loans - $250k-1MM	1	$400	$400,000