Commercial Bank Mortgage Rates, Fees & Info

Harrogate, TN

LEI: 549300XQ8DRJT0OETE90

Tax ID: 62-0979475

5 stars - Updated: 12/9/24 - out of 5 stars, based on 16 reviews

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

Jump to:

Mortgage Data

Review & Overview

Commercial Bank is a smaller bank specializing in Home Purchase loans. Commercial Bank has a high proportion of conventional loans. Their top markets by origination volume include: Knoxville, Johnson City, Morristown, London, and Middlesborough among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)

Commercial 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. Commercial Bank is typically a low 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 relatively high 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.65% 12/9/24
30 Year Conventional Refi 7.00% 12/9/24
15 Year Conventional Purchase 7.92% 12/9/24
15 Year Conventional Refi 7.55% 12/9/24
15 Year Cash-out Refi 7.55% 12/9/24
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.

Commercial Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Commercial Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

249

Origination Dollar Volume (All Markets)

$111,255,000

Awards

Commercial Bank 30 Year Conventional Loans gold Commercial Bank 30 Year Conventional Loans gold Commercial Bank 30 Year Conventional Loans silver Commercial Bank 30 Year Conventional Loans gold
Show all (4) awards

Relative Rate

Commercial Bank's average 30 year fixed mortgage rate was 6.76%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.28%.

Relative Fees (Closing Costs)

Commercial Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $1,775.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
KNOXVILLE, TN (FHA|USDA|VA) 56 $62,140,000 $1,109,643 $1,653 7.45%
JOHNSON CITY, TN (FHA|USDA|VA) 5 $15,365,000 $3,073,000 $1,941 7.08%
MORRISTOWN, TN (FHA|USDA|VA) 30 $8,860,000 $295,333 $1,874 6.98%
Outside of Metro Areas 65 $8,725,000 $134,231 $1,587 6.91%
London, KY (FHA|USDA|VA) 38 $6,670,000 $175,526 $1,496 7.09%
Middlesborough, KY (FHA|USDA|VA) 24 $2,360,000 $98,333 $1,687 6.89%
Newport, TN (FHA|USDA|VA) 10 $1,560,000 $156,000 $3,006 7.03%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 9 $1,405,000 $156,111 $1,863 7.10%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $1,205,000 $1,205,000 $0 7.90%
Sevierville, TN (FHA|USDA|VA) 4 $1,030,000 $257,500 $3,147 7.75%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 2 $530,000 $265,000 $6,363 6.38%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $355,000 $355,000 $7,442 6.50%
MANHATTAN, KS (FHA|USDA|VA) 1 $335,000 $335,000 $5,455 6.50%
Crossville, TN (FHA|USDA|VA) 1 $305,000 $305,000 $0 6.74%
Athens, TN (FHA|USDA|VA) 1 $255,000 $255,000 $0 6.74%
Big Stone Gap, VA (FHA|USDA|VA) 1 $155,000 $155,000 $3,054 6.25%
Commercial Bank's top markets include Knoxville, Johnson City, Morristown, London, and Middlesborough among others.

Their top states include:
  • Tennessee (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Commercial Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Commercial Bank
    Similarity Rank: 32
    CONSUMER Credit Union
    Similarity Rank: 48
    Forcht Bank
    Similarity Rank: 57
    SouthEast Bank
    Similarity Rank: 68
    L & N Federal Credit Union
    Similarity Rank: 184
    ENRICHMENT
    Similarity Rank: 230
    Home Federal Bank of Tennessee
    Similarity Rank: 282
    ORNL Federal Credit Union
    Similarity Rank: 558
    Countybank
    Similarity Rank: 648
    Y-12 Federal Credit Union
    Similarity Rank: 784

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 249 $111,255,000 $446,807 $1,788 7.09%

    For 2023, Commercial Bank's most frequently originated type of loan was Conventional, with 249 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 147 $98,685,000 $671,327 $1,253 7.07%
    Refi 61 $8,535,000 $139,918 $2,398 7.10%
    Other 26 $2,960,000 $113,846 $2,775 7.02%
    Home Improvement 15 $1,075,000 $71,667 $2,041 7.32%

    For 2023, Commercial Bank's most frequently cited loan purpose was Home Purchase, with 147 originations. The 2nd most popular reason was Refi, with 61 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 119 $30,135,000 $253,235 $1,775 6.76%
    5 Year 39 $7,025,000 $180,128 $1,667 7.74%
    20 Year 34 $2,990,000 $87,941 $1,885 7.20%
    Other 20 $52,610,000 $2,630,500 $1,795 7.16%
    15 Year 20 $1,490,000 $74,500 $1,869 7.19%
    10 Year 14 $1,000,000 $71,429 $1,589 7.18%
    3 Year 2 $14,550,000 $7,275,000 $1,920 9.00%
    1 Year 1 $1,455,000 $1,455,000 $0 8.25%

    For 2023, Commercial Bank's most frequently cited loan duration was 30 Year, with 119 originations. The 2nd most popular length was 5 Year, with 39 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 143 $25,735,000 $179,965
    $1k-2k 41 $5,365,000 $130,854
    $2k-3k 11 $2,555,000 $232,273
    $3k-4k 8 $2,750,000 $343,750
    $4k-5k 1 $425,000 $425,000
    $5k+ 1 $505,000 $505,000

    Commercial Bank's average total fees were $1,775, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 143 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 142 $44,150,000 $310,915
    7-8% 66 $59,400,000 $900,000
    Over 8% 32 $6,180,000 $193,125
    5-6% 6 $1,120,000 $186,667
    4-5% 3 $405,000 $135,000

    During 2023, Commercial Bank's average interest rate for loans was 6.76%, while their most frequently originated rate bucket for loans was 6-7%, with 142 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 94 $5,600,000 $59,574 $1,649 7.29%
    $100k-200k 68 $9,470,000 $139,265 $2,211 6.99%
    $200k-400k 53 $15,005,000 $283,113 $2,197 6.94%
    $400k-600k 22 $10,420,000 $473,636 $791 6.92%
    $600k-1MM 8 $5,590,000 $698,750 $0 6.74%
    $1MM+ 4 $65,170,000 $16,292,500 $0 7.66%

    2023 saw Commercial Bank place emphasis on $100,000 or less loans with 94 originations, totaling $5,600,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 53 $4,145,000 $78,208 $1,759 7.17%
    $100k-150k 42 $9,630,000 $229,286 $1,876 6.88%
    $50k-75k 37 $4,775,000 $129,054 $2,222 7.16%
    $75k-100k 37 $4,695,000 $126,892 $1,559 7.18%
    $150k-250k 34 $11,410,000 $335,588 $1,088 6.82%
    $250k+ 16 $5,910,000 $369,375 $3,374 7.14%

    Commercial Bank lent most frequently to those with incomes in the $50k or less range, with 53 originations. The second most popular income band? $100k-150k, with 42 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 68 $10,170,000 $149,559 $1,890 7.06%
    30-36% 33 $5,865,000 $177,727 $1,972 6.81%
    <20% 24 $2,470,000 $102,917 $1,832 7.33%
    39% 18 $3,840,000 $213,333 $1,861 6.66%
    40% 14 $3,960,000 $282,857 $1,237 6.96%
    37% 14 $2,150,000 $153,571 $2,018 7.16%
    36% 13 $1,975,000 $151,923 $1,760 7.18%
    38% 9 $2,505,000 $278,333 $753 6.80%
    42% 5 $1,015,000 $203,000 $2,598 6.66%
    43% 5 $2,035,000 $407,000 $2,196 6.90%
    50-60% 5 $545,000 $109,000 $1,389 7.96%
    41% 4 $1,410,000 $352,500 $557 6.91%
    >60% 3 $845,000 $281,667 $556 7.38%
    48% 3 $1,035,000 $345,000 $0 6.88%
    49% 3 $585,000 $195,000 $3,633 6.47%
    46% 2 $680,000 $340,000 $7,730 7.50%
    45% 1 $245,000 $245,000 $0 8.50%
    44% 1 $85,000 $85,000 $2,008 6.65%
    47% 1 $335,000 $335,000 $0 6.74%

    Commercial Bank lent most frequently to those with DTI ratios of 20-30%, with 68 originations. The next most common DTI ratio? 30-36%, with 33 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 20 $69,150,000 $3,457,500 $0 7.66%
    White 223 $40,255,000 $180,516 $1,764 7.04%
    Black 2 $1,000,000 $500,000 $0 6.95%
    Asian Indian 3 $675,000 $225,000 $6,054 6.75%
    Asian 1 $175,000 $175,000 $0 7.50%

    Approval Rates

    Total approvals of all applications
    90.40%

    Commercial Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.13%

    Commercial Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 249 $111,255,000 $446,807

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    249 $111,255,000 $446,807

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 37 $4,325,000 $116,892 $1,907 7.06%
    40-60% 47 $57,575,000 $1,225,000 $1,483 7.22%
    60-80% 76 $31,530,000 $414,868 $1,854 7.12%
    80-100% 65 $16,565,000 $254,846 $2,000 6.99%
    Under 20% 24 $1,260,000 $52,500 $1,460 7.05%