National Bank Of Commerce Mortgage Rates, Fees & Info

Superior, WI

LEI: 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 and Refi loans. National Bank Of Commerce has a high proportion of conventional loans. Their top markets by origination volume include: Duluth, Owatonna, Grand Rapids, Minneapolis, and Waco 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 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 6.76% 12/8/24
30 Year Conventional Refi 6.68% 12/8/24
30 Year Cash-out Refi 7.13% 12/8/24
15 Year Conventional Purchase 7.03% 12/8/24
15 Year Conventional Refi 6.43% 12/8/24
15 Year Cash-out Refi 6.43% 12/8/24
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

377

Origination Dollar Volume (All Markets)

$145,255,000

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) 319 $93,955,000 $294,530 $3,869 5.20%
Owatonna, MN (FHA|USDA|VA) 2 $23,010,000 $11,505,000 $0 3.99%
Grand Rapids, MN (FHA|USDA|VA) 7 $10,525,000 $1,503,571 $5,423 5.07%
Outside of Metro Areas 30 $7,260,000 $242,000 $4,558 5.47%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 5 $2,245,000 $449,000 $7,352 4.94%
WACO, TX (FHA|USDA|VA) 1 $2,065,000 $2,065,000 $0 5.50%
Brainerd, MN (FHA|USDA|VA) 2 $1,530,000 $765,000 $9,501 3.61%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $1,510,000 $755,000 $5,942 4.71%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $1,025,000 $1,025,000 $15,594 5.86%
OKLAHOMA CITY, OK (FHA|USDA|VA) 2 $1,000,000 $500,000 $5,833 4.37%
Bemidji, MN (FHA|USDA|VA) 1 $275,000 $275,000 $0 7.10%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $245,000 $245,000 $5,745 4.89%
EAU CLAIRE, WI (FHA|USDA|VA) 1 $235,000 $235,000 $3,895 7.13%
LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 1 $185,000 $185,000 $0 5.50%
Fergus Falls, MN (FHA|USDA|VA) 1 $115,000 $115,000 $3,059 3.63%
GREEN BAY, WI (FHA|USDA|VA) 1 $75,000 $75,000 $3,153 6.00%
National Bank Of Commerce's top markets include Duluth, Owatonna, Grand Rapids, Minneapolis, and Waco among others.

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

    SUPERIOR CHOICE
    Similarity Rank: 60
    North Shore Federal Credit Union
    Similarity Rank: 105
    NORTHWOODS
    Similarity Rank: 174
    Northview Bank
    Similarity Rank: 285
    MEMBERS COOPERATIVE
    Similarity Rank: 360
    National Bank of Commerce
    Similarity Rank: 576
    WINGS FINANCIAL
    Similarity Rank: 648
    AFFINITY PLUS
    Similarity Rank: 840
    North Shore Bank of Commerce
    Similarity Rank: 869
    RESULTS MORTGAGE, LLC
    Similarity Rank: 1020

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 377 $145,255,000 $385,292 $4,095 5.20%

    For 2022, National Bank Of Commerce's most frequently originated type of loan was Conventional, with 377 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 234 $92,240,000 $394,188 $4,213 5.29%
    Refi 77 $38,345,000 $497,987 $3,667 5.04%
    Cash Out Refi 43 $9,505,000 $221,047 $4,173 4.92%
    Other 14 $2,300,000 $164,286 $3,320 5.08%
    Home Improvement 9 $2,865,000 $318,333 $3,628 5.91%

    For 2022, National Bank Of Commerce's most frequently cited loan purpose was Home Purchase, with 234 originations. The 2nd most popular reason was Refi, with 77 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 182 $44,210,000 $242,912 $3,947 5.14%
    5 Year 77 $27,325,000 $354,870 $0 5.49%
    15 Year 54 $15,130,000 $280,185 $4,837 4.87%
    Other 47 $49,455,000 $1,052,234 $3,843 5.56%
    20 Year 9 $1,375,000 $152,778 $4,117 5.47%
    10 Year 8 $7,760,000 $970,000 $3,465 3.65%

    For 2022, National Bank Of Commerce's most frequently cited loan duration was 30 Year, with 182 originations. The 2nd most popular length was 5 Year, with 77 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 76 $15,220,000 $200,263
    $1k-2k 61 $8,125,000 $133,197
    $<1k 59 $15,125,000 $256,356
    $3k-4k 34 $9,950,000 $292,647
    $5k+ 16 $11,830,000 $739,375
    $4k-5k 15 $6,875,000 $458,333

    National Bank Of Commerce's average total fees were $3,947, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 76 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 114 $33,070,000 $290,088
    4-5% 89 $26,815,000 $301,292
    3-4% 67 $57,315,000 $855,448
    6-7% 64 $19,210,000 $300,156
    7-8% 26 $5,470,000 $210,385
    2.5-3% 8 $2,260,000 $282,500
    <2.5% 7 $915,000 $130,714
    Over 8% 2 $200,000 $100,000

    During 2022, National Bank Of Commerce's average interest rate for loans was 5.14%, while their most frequently originated rate bucket for loans was 5-6%, with 114 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 121 $32,725,000 $270,455 $4,343 5.18%
    $100k-200k 120 $17,490,000 $145,750 $3,415 5.10%
    $100,000 or less 70 $4,610,000 $65,857 $2,128 5.48%
    $400k-600k 35 $16,845,000 $481,286 $5,218 5.24%
    $1MM+ 19 $64,585,000 $3,399,211 $12,987 4.76%
    $600k-1MM 12 $9,000,000 $750,000 $7,662 5.31%

    2022 saw National Bank Of Commerce place emphasis on $200k-400k loans with 121 originations, totaling $32,725,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 61 $15,745,000 $258,115 $3,937 5.27%
    $50k-75k 57 $10,075,000 $176,754 $3,583 5.21%
    $75k-100k 52 $10,020,000 $192,692 $3,454 5.10%
    $150k-250k 49 $13,885,000 $283,367 $4,343 5.21%
    $250k+ 44 $19,930,000 $452,955 $6,759 5.40%
    $50k or less 29 $3,275,000 $112,931 $3,063 4.77%

    National Bank Of Commerce lent most frequently to those with incomes in the $100k-150k range, with 61 originations. The second most popular income band? $50k-75k, with 57 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 65 $16,435,000 $252,846 $3,838 5.21%
    20-30% 64 $15,050,000 $235,156 $4,180 4.81%
    <20% 34 $8,700,000 $255,882 $4,136 5.18%
    39% 14 $3,050,000 $217,857 $3,839 5.35%
    44% 13 $3,085,000 $237,308 $4,326 4.85%
    38% 11 $2,765,000 $251,364 $4,329 5.64%
    42% 10 $1,900,000 $190,000 $4,007 5.33%
    36% 10 $2,260,000 $226,000 $4,178 4.84%
    37% 10 $2,470,000 $247,000 $5,166 5.35%
    41% 10 $2,580,000 $258,000 $3,447 5.41%
    43% 7 $1,895,000 $270,714 $2,811 5.13%
    46% 6 $1,950,000 $325,000 $5,920 5.72%
    40% 6 $1,880,000 $313,333 $3,879 5.25%
    45% 5 $2,475,000 $495,000 $5,882 5.46%
    50-60% 4 $490,000 $122,500 $3,244 5.99%
    49% 3 $905,000 $301,667 $2,262 5.05%
    >60% 2 $800,000 $400,000 $6,359 7.37%
    48% 2 $260,000 $130,000 $2,903 5.31%
    47% 1 $165,000 $165,000 $3,429 2.75%

    National Bank Of Commerce lent most frequently to those with DTI ratios of 30-36%, with 65 originations. The next most common DTI ratio? 20-30%, with 64 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 279 $71,305,000 $255,573 $4,107 5.21%
    Not applicable 80 $71,090,000 $888,625 $0 5.28%
    Not provided 15 $2,005,000 $133,667 $3,407 4.65%
    Asian 2 $750,000 $375,000 $6,554 5.90%
    Black 1 $105,000 $105,000 $1,764 3.94%

    Approval Rates

    Total approvals of all applications
    95.19%

    National Bank Of Commerce has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    85.15%

    National Bank Of Commerce has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 377 $145,255,000 $385,292

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    377 $145,255,000 $385,292

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 31 $17,435,000 $562,419 $3,121 5.08%
    40-60% 58 $13,090,000 $225,690 $3,743 4.76%
    60-80% 116 $58,740,000 $506,379 $4,250 5.13%
    80-100% 152 $53,110,000 $349,408 $4,650 5.35%
    Under 20% 20 $2,880,000 $144,000 $1,289 5.93%