National Bank Of Commerce Mortgage Rates, Fees & Info
Superior, WILEI: 549300YSSK1TDPTWQ036
Tax ID: 39-0669230
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Mortgage Data
Review & Overview
National Bank Of Commerce is a smaller bank specializing in Home Purchase loans. National Bank Of Commerce has a high proportion of conventional loans. Their top markets by origination volume include: Duluth, Minneapolis, Eau Claire, Owatonna, and Grand Rapids among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)National Bank Of Commerce 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. National Bank Of Commerce is typically an average 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.76% | 12/16/24 |
| 30 Year Conventional Refi | 6.68% | 12/16/24 |
| 30 Year Cash-out Refi | 7.13% | 12/16/24 |
| 15 Year Conventional Purchase | 7.03% | 12/16/24 |
| 15 Year Conventional Refi | 6.43% | 12/16/24 |
| 15 Year Cash-out Refi | 6.43% | 12/16/24 |
| 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. | ||
National Bank Of Commerce Mortgage Calculator
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This is not an official calculator from National Bank Of Commerce. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
267Origination Dollar Volume (All Markets)
$140,465,000Awards
National Bank of Commerce - 2023
National Bank of Commerce is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
National Bank Of Commerce's average 30 year fixed mortgage rate was
6.54%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.06%.
Relative Fees (Closing Costs)
National Bank Of Commerce's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,787.
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 |
|---|---|---|---|---|---|
| DULUTH, MN-WI (FHA|USDA|VA) | 216 | $59,340,000 | $274,722 | $4,163 | 6.91% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 10 | $33,230,000 | $3,323,000 | $7,421 | 6.90% |
| EAU CLAIRE, WI (FHA|USDA|VA) | 1 | $18,635,000 | $18,635,000 | $0 | 8.00% |
| Owatonna, MN (FHA|USDA|VA) | 1 | $16,005,000 | $16,005,000 | $0 | 7.00% |
| Outside of Metro Areas | 15 | $3,755,000 | $250,333 | $4,076 | 6.78% |
| Grand Rapids, MN (FHA|USDA|VA) | 10 | $1,920,000 | $192,000 | $3,865 | 7.01% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $1,585,000 | $1,585,000 | $17,816 | 6.50% |
| Brainerd, MN (FHA|USDA|VA) | 4 | $1,540,000 | $385,000 | $5,268 | 7.04% |
| ST. CLOUD, MN (FHA|USDA|VA) | 1 | $985,000 | $985,000 | $0 | 5.83% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $820,000 | $410,000 | $7,898 | 7.50% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $13,327 | 6.65% |
| ROCHESTER, NY (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $13,370 | 6.75% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $10,320 | 5.99% |
| New Ulm, MN (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 8.00% |
| IOWA CITY, IA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $4,833 | 6.88% |
| WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $4,556 | 7.38% |
Similar Lenders
We use machine learning to identify the top lenders compared against National Bank of Commerce based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 267 | $140,465,000 | $526,086 | $4,481 | 6.91% |
For 2023, National Bank Of Commerce's most frequently originated type of loan was Conventional, with 267 originations.
Loan Reason
For 2023, National Bank Of Commerce's most frequently cited loan purpose was Home Purchase, with 172 originations. The 2nd most popular reason was Refi, with 47 originations.
Loan Duration/Length
For 2023, National Bank Of Commerce's most frequently cited loan duration was 30 Year, with 146 originations. The 2nd most popular length was 5 Year, with 61 originations.
Origination Fees/Closing Costs
National Bank Of Commerce's average total fees were $4,787, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 46 originations.
Interest Rates
During 2023, National Bank Of Commerce's average interest rate for loans was 6.54%, while their most frequently originated rate bucket for loans was 6-7%, with 135 originations.
Loan Sizing
2023 saw National Bank Of Commerce place emphasis on $200k-400k loans with 77 originations, totaling $20,775,000 in origination value.
Applicant Income
National Bank Of Commerce lent most frequently to those with incomes in the $100k-150k range, with 40 originations. The second most popular income band? $50k-75k, with 37 originations.
Applicant Debt to Income Ratio
National Bank Of Commerce lent most frequently to those with DTI ratios of 20-30%, with 55 originations. The next most common DTI ratio? 30-36%, with 32 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.65%
National Bank Of Commerce has an average approval rate.
Pick Rate
Approvals leading to origination88.01%
National Bank Of Commerce has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 267 | $140,465,000 | $526,086 |