National Bank Of Commerce Mortgage Rates, Fees & Info

Superior, WI

LEI: 549300YSSK1TDPTWQ036

Tax ID: 39-0669230

5 stars - Updated: 7/20/24 - out of 5 stars, based on 16 reviews

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

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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.

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 6.76% 7/20/24
30 Year Conventional Refi 6.68% 7/20/24
30 Year Cash-out Refi 7.13% 7/20/24
15 Year Conventional Purchase 7.03% 7/20/24
15 Year Conventional Refi 6.43% 7/20/24
15 Year Cash-out Refi 6.43% 7/20/24
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






Your Estimates

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

This is not an official calculator from National Bank Of Commerce. 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

267

Origination Dollar Volume (All Markets)

$140,465,000

Awards

National Bank of Commerce 30 Year Conventional Loans bronze National Bank of Commerce 30 Year Conventional Loans silver
Show all (2) awards

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%
National Bank Of Commerce's top markets include Duluth, Minneapolis, Eau Claire, Owatonna, and Grand Rapids among others.

Their top states include:
  • Minnesota (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • 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.

    North Shore Federal Credit Union
    Similarity Rank: 28
    National Bank of Commerce
    Similarity Rank: 192
    Northview Bank
    Similarity Rank: 195
    SUPERIOR CHOICE
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    MEMBERS COOPERATIVE
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    Park State Bank
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    WINGS FINANCIAL
    Similarity Rank: 594
    AFFINITY PLUS
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    North Shore Bank of Commerce
    Similarity Rank: 624
    Regent Financial Group, Inc.
    Similarity Rank: 1152

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 172 $111,750,000 $649,709 $4,770 6.86%
    Refi 47 $19,965,000 $424,787 $3,842 7.13%
    Cash Out Refi 22 $4,350,000 $197,727 $3,878 6.88%
    Other 15 $3,025,000 $201,667 $4,236 6.73%
    Home Improvement 11 $1,375,000 $125,000 $3,368 7.13%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 146 $39,300,000 $269,178 $4,787 6.54%
    5 Year 61 $64,535,000 $1,057,951 $0 7.33%
    Other 38 $30,210,000 $795,000 $2,487 7.44%
    20 Year 7 $815,000 $116,429 $3,567 7.20%
    10 Year 6 $1,220,000 $203,333 $1,873 7.11%
    3 Year 5 $3,295,000 $659,000 $0 7.58%
    15 Year 3 $995,000 $331,667 $5,674 6.96%
    1 Year 1 $95,000 $95,000 $0 9.00%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 46 $9,650,000 $209,783
    $<1k 44 $10,500,000 $238,636
    $1k-2k 37 $3,655,000 $98,784
    $3k-4k 20 $5,690,000 $284,500
    $5k+ 15 $9,925,000 $661,667
    $4k-5k 11 $4,405,000 $400,455

    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

    Loan Rate Originations Total Value Average Loan
    6-7% 135 $59,425,000 $440,185
    7-8% 63 $61,445,000 $975,317
    5-6% 38 $10,190,000 $268,158
    Over 8% 29 $5,745,000 $198,103
    3-4% 1 $2,945,000 $2,945,000
    4-5% 1 $715,000 $715,000

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 77 $20,775,000 $269,805 $5,071 6.86%
    $100k-200k 76 $12,080,000 $158,947 $3,674 6.72%
    $100,000 or less 58 $3,510,000 $60,517 $2,398 7.31%
    $400k-600k 28 $13,300,000 $475,000 $6,870 7.01%
    $1MM+ 15 $80,835,000 $5,389,000 $10,710 6.93%
    $600k-1MM 13 $9,965,000 $766,538 $7,895 6.32%

    2023 saw National Bank Of Commerce place emphasis on $200k-400k loans with 77 originations, totaling $20,775,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 40 $10,890,000 $272,250 $4,626 6.82%
    $50k-75k 37 $5,295,000 $143,108 $3,487 6.54%
    $150k-250k 35 $8,305,000 $237,286 $4,704 6.94%
    $75k-100k 29 $5,105,000 $176,034 $3,985 6.89%
    $250k+ 28 $15,730,000 $561,786 $7,605 6.82%
    $50k or less 19 $1,945,000 $102,368 $3,072 6.47%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 55 $11,505,000 $209,182 $4,078 6.54%
    30-36% 32 $8,190,000 $255,938 $4,305 6.82%
    37% 11 $2,275,000 $206,818 $4,128 7.24%
    <20% 11 $3,155,000 $286,818 $5,765 6.47%
    40% 10 $3,070,000 $307,000 $6,484 6.54%
    43% 8 $1,600,000 $200,000 $5,466 6.91%
    39% 8 $1,270,000 $158,750 $3,469 6.67%
    41% 7 $2,565,000 $366,429 $6,207 6.92%
    36% 7 $1,875,000 $267,857 $4,762 6.48%
    50-60% 6 $2,130,000 $355,000 $3,737 6.82%
    42% 6 $1,420,000 $236,667 $3,264 6.35%
    44% 4 $1,130,000 $282,500 $4,080 6.81%
    47% 3 $785,000 $261,667 $5,569 6.96%
    48% 3 $1,435,000 $478,333 $5,377 7.36%
    38% 3 $275,000 $91,667 $1,425 6.38%
    49% 2 $410,000 $205,000 $3,606 5.75%
    45% 2 $630,000 $315,000 $3,823 6.94%
    46% 1 $605,000 $605,000 $8,450 5.99%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 72 $91,130,000 $1,265,694 $0 7.29%
    White 176 $44,300,000 $251,705 $4,388 6.76%
    Not provided 12 $3,770,000 $314,167 $6,877 7.20%
    Asian 4 $880,000 $220,000 $4,414 6.21%
    American Indian 2 $270,000 $135,000 $3,886 6.44%
    Black 1 $115,000 $115,000 $3,914 7.00%

    Approval Rates

    Total approvals of all applications
    94.65%

    National Bank Of Commerce has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.01%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    267 $140,465,000 $526,086

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 29 $3,355,000 $115,690 $2,975 7.01%
    40-60% 41 $9,775,000 $238,415 $4,254 6.90%
    60-80% 90 $92,660,000 $1,029,556 $4,952 6.98%
    80-100% 80 $23,820,000 $297,750 $5,047 6.75%
    Over 100% 1 $2,945,000 $2,945,000 $0 4.00%
    Under 20% 26 $7,910,000 $304,231 $2,556 7.20%