Commercial Bank Mortgage Rates, Fees & Info

Harrogate, TN

LEI: 549300XQ8DRJT0OETE90

Tax ID: 62-0979475

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • 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

    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: Louisville, Knoxville, Nashville, London, and Morristown among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Commercial Bank has an 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 about average 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% 10/31/24
    30 Year Conventional Refi 7.00% 10/31/24
    15 Year Conventional Purchase 7.92% 10/31/24
    15 Year Conventional Refi 7.55% 10/31/24
    15 Year Cash-out Refi 7.55% 10/31/24
    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

    337

    Origination Dollar Volume (All Markets)

    $143,405,000

    Awards

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

    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
    LOUISVILLE, KY (FHA|USDA|VA) 1 $39,245,000 $39,245,000 $0 5.25%
    KNOXVILLE, TN (FHA|USDA|VA) 98 $29,920,000 $305,306 $2,047 4.73%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $27,625,000 $27,625,000 $0 5.75%
    Outside of Metro Areas 81 $12,395,000 $153,025 $2,197 4.76%
    London, KY (FHA|USDA|VA) 58 $10,580,000 $182,414 $1,795 4.89%
    MORRISTOWN, TN (FHA|USDA|VA) 42 $10,380,000 $247,143 $2,049 4.89%
    Sevierville, TN (FHA|USDA|VA) 6 $3,290,000 $548,333 $3,506 4.82%
    KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 11 $2,595,000 $235,909 $1,023 4.18%
    Newport, TN (FHA|USDA|VA) 13 $1,825,000 $140,385 $2,847 5.59%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $1,465,000 $1,465,000 $0 4.50%
    Middlesborough, KY (FHA|USDA|VA) 16 $1,460,000 $91,250 $1,777 4.68%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $555,000 $555,000 $7,505 5.50%
    Crossville, TN (FHA|USDA|VA) 1 $425,000 $425,000 $0 4.85%
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 1 $405,000 $405,000 $6,378 6.00%
    Somerset, KY (FHA|USDA|VA) 1 $405,000 $405,000 $0 2.74%
    Athens, TN (FHA|USDA|VA) 2 $340,000 $170,000 $0 4.00%
    JOHNSON CITY, TN (FHA|USDA|VA) 1 $275,000 $275,000 $0 4.15%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $135,000 $135,000 $2,854 4.55%
    Greeneville, TN (FHA|USDA|VA) 1 $85,000 $85,000 $875 3.74%
    Commercial Bank's top markets include Louisville, Knoxville, Nashville, London, and Morristown among others.

    Their top states include:
  • Tennessee (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Virginia (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.

    Forcht Bank
    Similarity Rank: 40
    CONSUMER Credit Union
    Similarity Rank: 260
    L & N Federal Credit Union
    Similarity Rank: 275
    ENRICHMENT
    Similarity Rank: 290
    Home Federal Bank of Tennessee
    Similarity Rank: 630
    Y-12 Federal Credit Union
    Similarity Rank: 896
    KNOXVILLE TVA EMPLOYEES CREDIT UNION
    Similarity Rank: 1020
    U. T.
    Similarity Rank: 1530
    Commercial Bank
    Similarity Rank: 1672
    ORNL Federal Credit Union
    Similarity Rank: 1710

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 337 $143,405,000 $425,534 $2,039 4.79%

    For 2022, Commercial Bank's most frequently originated type of loan was Conventional, with 337 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 217 $127,385,000 $587,028 $1,816 4.78%
    Refi 98 $14,050,000 $143,367 $2,426 4.74%
    Other 15 $1,535,000 $102,333 $2,495 4.98%
    Home Improvement 7 $435,000 $62,143 $2,129 5.51%

    For 2022, Commercial Bank's most frequently cited loan purpose was Home Purchase, with 217 originations. The 2nd most popular reason was Refi, with 98 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 199 $57,455,000 $288,719 $2,027 4.64%
    5 Year 68 $11,020,000 $162,059 $1,714 5.02%
    20 Year 23 $3,155,000 $137,174 $2,513 4.45%
    10 Year 18 $950,000 $52,778 $1,733 4.67%
    15 Year 17 $1,815,000 $106,765 $2,272 6.01%
    Other 11 $68,085,000 $6,189,545 $1,246 5.41%
    1 Year 1 $925,000 $925,000 $2,353 3.50%

    For 2022, Commercial Bank's most frequently cited loan duration was 30 Year, with 199 originations. The 2nd most popular length was 5 Year, with 68 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 164 $40,630,000 $247,744
    $1k-2k 60 $9,530,000 $158,833
    $2k-3k 28 $6,540,000 $233,571
    $5k+ 7 $4,385,000 $626,429
    $3k-4k 6 $1,880,000 $313,333
    $4k-5k 5 $2,115,000 $423,000

    Commercial Bank's average total fees were $2,027, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 164 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 121 $26,215,000 $216,653
    5-6% 100 $88,790,000 $887,900
    3-4% 83 $23,045,000 $277,651
    6-7% 21 $3,585,000 $170,714
    Over 8% 6 $250,000 $41,667
    2.5-3% 4 $1,090,000 $272,500
    7-8% 1 $65,000 $65,000
    <2.5% 1 $365,000 $365,000

    During 2022, Commercial Bank's average interest rate for loans was 4.64%, while their most frequently originated rate bucket for loans was 4-5%, with 121 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 95 $5,375,000 $56,579 $1,650 5.15%
    $100k-200k 95 $13,515,000 $142,263 $2,442 4.79%
    $200k-400k 93 $25,755,000 $276,935 $1,956 4.61%
    $400k-600k 34 $16,230,000 $477,353 $2,526 4.47%
    $600k-1MM 14 $10,540,000 $752,857 $1,771 4.38%
    $1MM+ 6 $71,990,000 $11,998,333 $0 4.83%

    2022 saw Commercial Bank place emphasis on $100,000 or less loans with 95 originations, totaling $5,375,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 75 $10,775,000 $143,667 $2,105 4.68%
    $100k-150k 60 $12,770,000 $212,833 $2,394 4.86%
    $50k or less 53 $4,645,000 $87,642 $1,901 5.05%
    $150k-250k 50 $19,890,000 $397,800 $1,234 4.61%
    $75k-100k 48 $11,080,000 $230,833 $2,381 4.88%
    $250k+ 22 $12,300,000 $559,091 $2,506 4.44%

    Commercial Bank lent most frequently to those with incomes in the $50k-75k range, with 75 originations. The second most popular income band? $100k-150k, with 60 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 77 $17,335,000 $225,130 $1,824 4.66%
    <20% 59 $9,845,000 $166,864 $1,834 4.83%
    30-36% 59 $15,165,000 $257,034 $1,657 4.69%
    36% 20 $3,940,000 $197,000 $3,005 4.67%
    37% 14 $4,000,000 $285,714 $2,185 4.18%
    38% 14 $2,660,000 $190,000 $2,473 5.53%
    39% 13 $3,435,000 $264,231 $2,406 4.65%
    40% 13 $2,715,000 $208,846 $1,278 5.18%
    >60% 6 $2,440,000 $406,667 $1,218 5.16%
    50-60% 6 $2,680,000 $446,667 $3,351 5.03%
    46% 5 $1,095,000 $219,000 $4,630 4.49%
    44% 5 $1,245,000 $249,000 $2,740 4.95%
    49% 5 $1,235,000 $247,000 $3,844 5.03%
    41% 4 $1,010,000 $252,500 $2,867 5.01%
    42% 4 $1,210,000 $302,500 $1,572 4.81%
    45% 4 $1,020,000 $255,000 $2,504 4.45%
    47% 3 $575,000 $191,667 $1,342 5.30%
    43% 3 $1,265,000 $421,667 $426 4.16%

    Commercial Bank lent most frequently to those with DTI ratios of 20-30%, with 77 originations. The next most common DTI ratio? <20%, with 59 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 307 $70,315,000 $229,039 $2,036 4.77%
    Not applicable 21 $69,945,000 $3,330,714 $0 5.19%
    Not provided 2 $1,240,000 $620,000 $0 5.15%
    Asian Indian 2 $740,000 $370,000 $5,780 4.70%
    Black 2 $530,000 $265,000 $0 5.38%
    Asian 2 $350,000 $175,000 $1,585 4.00%
    American Indian 1 $285,000 $285,000 $0 4.15%

    Approval Rates

    Total approvals of all applications
    87.28%

    Commercial Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.42%

    Commercial Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 337 $143,405,000 $425,534

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    337 $143,405,000 $425,534

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 37 $4,455,000 $120,405 $1,727 5.28%
    40-60% 62 $10,990,000 $177,258 $2,174 4.82%
    60-80% 121 $66,265,000 $547,645 $2,271 4.73%
    80-100% 102 $33,040,000 $323,922 $2,030 4.58%
    Over 100% 1 $27,625,000 $27,625,000 $0 5.75%
    Under 20% 14 $1,030,000 $73,571 $1,003 5.45%