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
  • Complaints
  • 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 two markets are Greenville and Greenwood .

    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

    41

    Origination Dollar Volume (All Markets)

    $4,735,000

    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) 28 $2,880,000 $102,857 $2,378 5.15%
    Outside of Metro Areas 10 $1,320,000 $132,000 $2,019 5.17%
    Greenwood, SC (FHA|USDA|VA) 3 $535,000 $178,333 $2,474 6.18%
    The Commercial Bank's top markets include Greenville and Greenwood 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 41 $4,735,000 $115,488 $2,286 5.23%

    For 2019, The Commercial Bank's most frequently originated type of loan was Conventional, with 41 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 25 $3,035,000 $121,400 $2,600 5.22%
    Refi 12 $1,430,000 $119,167 $1,712 5.22%
    Home Improvement 4 $270,000 $67,500 $1,994 5.35%

    For 2019, The Commercial Bank's most frequently cited loan purpose was Home Purchase, with 25 originations. The 2nd most popular reason was Refi, with 12 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 31 $3,445,000 $111,129 $2,245 5.07%
    Other 5 $775,000 $155,000 $2,519 4.92%
    5 Year 3 $475,000 $158,333 $0 6.08%
    15 Year 2 $40,000 $20,000 $0 7.30%

    For 2019, The Commercial Bank's most frequently cited loan duration was 10 Year, with 31 originations. The 2nd most popular length was Other, with 5 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 17 $1,025,000 $60,294
    $1k-2k 12 $2,120,000 $176,667
    $2k-3k 4 $930,000 $232,500

    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 17 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 22 $2,730,000 $124,091
    5-6% 14 $1,500,000 $107,143
    6-7% 3 $465,000 $155,000
    7-8% 2 $40,000 $20,000

    During 2019, The Commercial Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 22 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 24 $1,320,000 $55,000 $1,558 5.40%
    $100k-200k 10 $1,480,000 $148,000 $2,691 4.92%
    $200k-400k 7 $1,935,000 $276,429 $3,794 5.10%

    2019 saw The Commercial Bank place emphasis on $100,000 or less loans with 24 originations, totaling $1,320,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 13 $1,415,000 $108,846 $2,337 5.03%
    $75k-100k 11 $1,115,000 $101,364 $2,348 5.34%
    $100k-150k 6 $590,000 $98,333 $1,982 5.28%
    $50k or less 5 $305,000 $61,000 $1,944 5.31%
    $150k-250k 3 $305,000 $101,667 $2,264 5.38%
    $250k+ 2 $640,000 $320,000 $3,165 4.88%

    The Commercial Bank lent most frequently to those with incomes in the $50k-75k range, with 13 originations. The second most popular income band? $75k-100k, with 11 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 12 $1,580,000 $131,667 $2,391 4.93%
    <20% 9 $715,000 $79,444 $1,854 4.94%
    30-36% 6 $780,000 $130,000 $1,971 5.33%
    39% 2 $270,000 $135,000 $3,086 4.80%
    41% 2 $330,000 $165,000 $3,489 5.05%
    40% 1 $95,000 $95,000 $1,786 5.10%
    50-60% 1 $85,000 $85,000 $2,001 4.80%
    42% 1 $85,000 $85,000 $2,125 4.90%
    37% 1 $245,000 $245,000 $3,423 4.75%

    The Commercial Bank lent most frequently to those with DTI ratios of 20-30%, with 12 originations. The next most common DTI ratio? <20%, with 9 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 37 $3,715,000 $100,405 $2,073 5.22%
    Asian Indian 2 $480,000 $240,000 $4,857 5.00%
    Not applicable 1 $365,000 $365,000 $0 6.25%
    Not provided 1 $175,000 $175,000 $3,727 5.05%

    Approval Rates

    Total approvals of all applications
    92.00%

    The Commercial Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    95.12%

    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 41 $4,735,000 $115,488

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 9 $695,000 $77,222
    Single Family (1-4 Units):Site-Built 32 $4,040,000 $126,250

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 4 $270,000 $67,500 $1,606 4.88%
    40-60% 11 $935,000 $85,000 $1,879 5.44%
    60-80% 21 $2,965,000 $141,190 $2,522 5.08%
    80-100% 4 $530,000 $132,500 $3,842 5.85%
    Under 20% 1 $35,000 $35,000 $1,306 5.15%

    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%