The Commerce Bank Mortgage Rates, Fees & Info
Evansville, INLEI: 549300SM6EJ5M7G8GP62
Tax ID: 20-4877174
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
The Commerce Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. The Commerce Bank has a high proportion of conventional loans. Their top markets by origination volume include: Evansville, Louisville, Indianapolis, Clarksville, and Dallas among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)The Commerce 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.
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Originations
85Origination Dollar Volume (All Markets)
$20,785,000Top 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 |
|---|---|---|---|---|---|
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 66 | $14,280,000 | $216,364 | $0 | 0.00% |
| LOUISVILLE, KY (FHA|USDA|VA) | 12 | $3,460,000 | $288,333 | $0 | 0.00% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $1,105,000 | $1,105,000 | $0 | 0.00% |
| Outside of Metro Areas | 4 | $880,000 | $220,000 | $0 | 0.00% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 1 | $835,000 | $835,000 | $0 | 0.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 85 | $20,785,000 | $244,529 | $0 | 0.00% |
For 2019, The Commerce Bank's most frequently originated type of loan was Conventional, with 85 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 58 | $13,780,000 | $237,586 | $0 | 0.00% |
| Cash Out Refi | 19 | $5,375,000 | $282,895 | $0 | 0.00% |
| Refi | 8 | $1,630,000 | $203,750 | $0 | 0.00% |
For 2019, The Commerce Bank's most frequently cited loan purpose was Home Purchase, with 58 originations. The 2nd most popular reason was Cash Out Refi, with 19 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 85 | $20,785,000 | $244,529 | $0 | 0.00% |
For 2019, The Commerce Bank's most frequently cited loan duration was Other, with 85 originations.
Loan Sizing
2019 saw The Commerce Bank place emphasis on $100k-200k loans with 30 originations, totaling $4,650,000 in origination value.
Applicant Income
The Commerce Bank lent most frequently to those with incomes in the $100k-150k range, with 16 originations. The second most popular income band? $75k-100k, with 16 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 85 | $20,785,000 | $244,529 | $0 | 0.00% |
The Commerce Bank lent most frequently to those with DTI ratios of Exempt%, with 85 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.35%
The Commerce Bank has an average approval rate.
Pick Rate
Approvals leading to origination88.24%
The Commerce Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 85 | $20,785,000 | $244,529 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 3 | $2,365,000 | $788,333 |
| Single Family (1-4 Units):Site-Built | 82 | $18,420,000 | $224,634 |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| TJC Mortgage, Inc. | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |