Community First Bank Mortgage Rates, Fees & Info
Walhalla, SCLEI: 549300RZFB670NG8MF92
Tax ID: 57-0899390
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Mortgage 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, Greenville, Johnson City, Charlotte, and Cullowhee among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)Community First Bank 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. Community First Bank 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.
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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
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
112Origination Dollar Volume (All Markets)
$33,730,000Awards
Community First Bank - 2022
Community First Bank 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 |
|---|---|---|---|---|---|
| Seneca, SC (FHA|USDA|VA) | 44 | $12,940,000 | $294,091 | $5,958 | 4.99% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 27 | $10,195,000 | $377,593 | $4,316 | 5.20% |
| JOHNSON CITY, TN (FHA|USDA|VA) | 18 | $2,920,000 | $162,222 | $3,812 | 5.54% |
| Outside of Metro Areas | 3 | $2,505,000 | $835,000 | $11,849 | 4.00% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 10 | $2,350,000 | $235,000 | $4,920 | 4.82% |
| Cullowhee, NC (FHA|USDA|VA) | 3 | $595,000 | $198,333 | $4,472 | 4.69% |
| SPARTANBURG, SC (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $10,157 | 3.48% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $3,367 | 5.49% |
| Toccoa, GA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $0 | 5.75% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $2,845 | 4.52% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $6,742 | 3.65% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 4.75% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $2,545 | 6.28% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 112 | $33,730,000 | $301,161 | $5,231 | 5.07% |
For 2022, Community First Bank's most frequently originated type of loan was Conventional, with 112 originations.
Loan Reason
For 2022, Community First Bank's most frequently cited loan purpose was Home Purchase, with 62 originations. The 2nd most popular reason was Refi, with 37 originations.
Loan Duration/Length
For 2022, Community First Bank's most frequently cited loan duration was 30 Year, with 84 originations. The 2nd most popular length was 5 Year, with 16 originations.
Origination Fees/Closing Costs
Community First Bank's average total fees were $5,433, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 33 originations.
Interest Rates
During 2022, Community First Bank's average interest rate for loans was 4.99%, while their most frequently originated rate bucket for loans was 4-5%, with 41 originations.
Loan Sizing
2022 saw Community First Bank place emphasis on $100k-200k loans with 38 originations, totaling $5,450,000 in origination value.
Applicant Income
Community First Bank lent most frequently to those with incomes in the $50k-75k range, with 21 originations. The second most popular income band? $50k or less, with 19 originations.
Applicant Debt to Income Ratio
Community First Bank lent most frequently to those with DTI ratios of 20-30%, with 22 originations. The next most common DTI ratio? <20%, with 14 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications84.90%
Community First Bank has a below average approval rate.
Pick Rate
Approvals leading to origination54.46%
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 | 112 | $33,730,000 | $301,161 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Community Loan Servicing, LLC (formerly known as Bayview Loan Servicing, LLC) | FHA mortgage | Struggling to pay mortgage | 2 | 66.7% |
| Community Loan Servicing, LLC (formerly known as Bayview Loan Servicing, LLC) | Other type of mortgage | Trouble during payment process | 1 | 33.3% |