The Commercial Bank Mortgage Rates, Fees & Info

HONEA PATH, SC

LEI: 549300TZ2F3RROX2Q179

Tax ID: 57-0145500

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    The Commercial Bank is a smaller bank specializing in Home Purchase and Refi loans. The Commercial Bank has a high proportion of conventional loans. Their top markets by origination volume include: Greenville, Greenwood, Sumter, and Columbia among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    The Commercial Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

    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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    Originations

    54

    Origination Dollar Volume (All Markets)

    $4,910,000

    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
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 33 $3,005,000 $91,061 $1,922 5.19%
    Outside of Metro Areas 11 $875,000 $79,545 $1,822 5.25%
    Greenwood, SC (FHA|USDA|VA) 8 $750,000 $93,750 $1,402 6.07%
    SUMTER, SC (FHA|USDA|VA) 1 $145,000 $145,000 $2,908 4.85%
    COLUMBIA, SC (FHA|USDA|VA) 1 $135,000 $135,000 $0 5.99%
    The Commercial Bank's top markets include Greenville, Greenwood, Sumter, and Columbia among others.

    Their top states include:
  • South Carolina (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 54 $4,910,000 $90,926 $1,896 5.34%

    For 2018, The Commercial Bank's most frequently originated type of loan was Conventional, with 54 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 30 $2,640,000 $88,000 $2,153 5.37%
    Refi 22 $2,190,000 $99,545 $1,621 5.30%
    Home Improvement 2 $80,000 $40,000 $881 5.50%

    For 2018, The Commercial Bank's most frequently cited loan purpose was Home Purchase, with 30 originations. The 2nd most popular reason was Refi, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 38 $3,750,000 $98,684 $1,957 5.15%
    5 Year 7 $365,000 $52,143 $0 6.22%
    Other 6 $670,000 $111,667 $1,343 5.13%
    3 Year 2 $90,000 $45,000 $0 5.70%
    15 Year 1 $35,000 $35,000 $0 7.25%

    For 2018, The Commercial Bank's most frequently cited loan duration was 10 Year, with 38 originations. The 2nd most popular length was 5 Year, with 7 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 24 $1,520,000 $63,333
    $1k-2k 13 $1,935,000 $148,846
    $2k-3k 1 $215,000 $215,000

    The Commercial Bank's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 24 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 24 $1,990,000 $82,917
    4-5% 21 $2,555,000 $121,667
    6-7% 8 $330,000 $41,250
    7-8% 1 $35,000 $35,000

    During 2018, The Commercial Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 24 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 37 $1,915,000 $51,757 $1,473 5.47%
    $100k-200k 13 $1,895,000 $145,769 $2,538 5.09%
    $200k-400k 3 $625,000 $208,333 $2,850 5.08%
    $400k-600k 1 $475,000 $475,000 $0 4.85%

    2018 saw The Commercial Bank place emphasis on $100,000 or less loans with 37 originations, totaling $1,915,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 18 $1,300,000 $72,222 $1,725 5.30%
    $50k or less 15 $1,255,000 $83,667 $1,836 5.11%
    $75k-100k 11 $1,295,000 $117,727 $2,153 5.61%
    $100k-150k 4 $520,000 $130,000 $2,573 5.00%
    $150k-250k 1 $165,000 $165,000 $2,787 4.95%
    $250k+ 1 $45,000 $45,000 $0 6.55%

    The Commercial Bank lent most frequently to those with incomes in the $50k-75k range, with 18 originations. The second most popular income band? $50k or less, with 15 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 19 $1,705,000 $89,737 $1,993 5.26%
    <20% 11 $825,000 $75,000 $1,667 4.91%
    30-36% 7 $835,000 $119,286 $2,395 5.13%
    38% 2 $350,000 $175,000 $1,963 4.80%
    46% 1 $25,000 $25,000 $1,104 5.20%

    The Commercial Bank lent most frequently to those with DTI ratios of 20-30%, with 19 originations. The next most common DTI ratio? <20%, with 11 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 46 $3,950,000 $85,870 $1,755 5.29%
    Asian Indian 2 $410,000 $205,000 $3,989 5.10%
    Other Asian 1 $205,000 $205,000 $3,097 5.25%
    Black 3 $175,000 $58,333 $1,581 5.47%
    Not applicable 2 $170,000 $85,000 $0 6.62%

    Approval Rates

    Total approvals of all applications
    93.44%

    The Commercial Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    96.30%

    The Commercial Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 54 $4,910,000 $90,926

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 12 $730,000 $60,833
    Single Family (1-4 Units):Site-Built 42 $4,180,000 $99,524

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $290,000 $48,333 $1,557 5.14%
    40-60% 14 $700,000 $50,000 $1,450 5.57%
    60-80% 23 $2,785,000 $121,087 $2,214 5.20%
    80-100% 7 $985,000 $140,714 $2,110 5.23%
    Over 100% 1 $45,000 $45,000 $0 6.75%
    Under 20% 3 $105,000 $35,000 $1,239 5.55%