Mountain Commerce Bank Mortgage Rates, Fees & Info
Knoxville, TNLEI: 549300WN1LQYJX9HOU28
Tax ID: 62-0194780
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Mortgage Data
Review & Overview
Mountain Commerce Bank is a smaller bank specializing in Home Purchase loans. Mountain Commerce Bank has a high proportion of conventional loans. Their top markets by origination volume include: Knoxville, Nashville, Sevierville, Augusta, and Johnson City among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)Mountain 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
141Origination Dollar Volume (All Markets)
$113,785,000Top 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 |
|---|---|---|---|---|---|
| KNOXVILLE, TN (FHA|USDA|VA) | 67 | $45,335,000 | $676,642 | $0 | 0.00% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 14 | $27,100,000 | $1,935,714 | $0 | 0.00% |
| Sevierville, TN (FHA|USDA|VA) | 30 | $22,240,000 | $741,333 | $0 | 0.00% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $3,955,000 | $3,955,000 | $0 | 0.00% |
| JOHNSON CITY, TN (FHA|USDA|VA) | 10 | $3,920,000 | $392,000 | $0 | 0.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $2,475,000 | $2,475,000 | $0 | 0.00% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $1,805,000 | $1,805,000 | $0 | 0.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $1,345,000 | $1,345,000 | $0 | 0.00% |
| CLEVELAND, TN (FHA|USDA|VA) | 3 | $955,000 | $318,333 | $0 | 0.00% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $805,000 | $805,000 | $0 | 0.00% |
| Seneca, SC (FHA|USDA|VA) | 1 | $785,000 | $785,000 | $0 | 0.00% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 3 | $725,000 | $241,667 | $0 | 0.00% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 1 | $705,000 | $705,000 | $0 | 0.00% |
| MORRISTOWN, TN (FHA|USDA|VA) | 3 | $445,000 | $148,333 | $0 | 0.00% |
| Newport, TN (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $0 | 0.00% |
| Cookeville, TN (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $0 | 0.00% |
| Dayton, TN (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $125,000 | $125,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 141 | $113,785,000 | $806,986 | $0 | 0.00% |
For 2023, Mountain Commerce Bank's most frequently originated type of loan was Conventional, with 141 originations.
Loan Reason
For 2023, Mountain Commerce Bank's most frequently cited loan purpose was Home Purchase, with 106 originations. The 2nd most popular reason was Refi, with 24 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 141 | $113,785,000 | $806,986 | $0 | 0.00% |
For 2023, Mountain Commerce Bank's most frequently cited loan duration was Other, with 141 originations.
Loan Sizing
2023 saw Mountain Commerce Bank place emphasis on $200k-400k loans with 37 originations, totaling $10,705,000 in origination value.
Applicant Income
Mountain Commerce Bank lent most frequently to those with incomes in the $250k+ range, with 35 originations. The second most popular income band? $150k-250k, with 20 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 141 | $113,785,000 | $806,986 | $0 | 0.00% |
Mountain Commerce Bank lent most frequently to those with DTI ratios of Exempt%, with 141 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.95%
Mountain Commerce Bank has an average approval rate.
Pick Rate
Approvals leading to origination53.19%
Mountain Commerce 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 |
|---|---|---|---|
| Exempt | 141 | $113,785,000 | $806,986 |