Comerica Bank Mortgage Rates, Fees & Info
Dallas, TXLEI: 70WY0ID1N53Q4254VH70
Tax ID: 42-1741646
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Mortgage Data
Review & Overview
Comerica Bank is a small bank specializing in Home Improvement and Refi loans. Comerica Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Los Angeles, Detroit, Dallas, San Francisco, and Houston among others. We have data for 97 markets. (Some data included below & more in-depth data is available with an active subscription.)Comerica Bank has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Comerica Bank 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 11/17/24 |
| 30 Year Conventional Purchase | 6.52% | 11/17/24 |
| 30 Year Conventional Refi | 6.25% | 11/17/24 |
| 30 Year Cash-out Refi | 6.55% | 11/17/24 |
| 30 Year FHA Purchase | 6.81% | 11/17/24 |
| 30 Year FHA Refi | 6.27% | 11/17/24 |
| 15 Year Conventional Purchase | 6.13% | 11/17/24 |
| 15 Year Conventional Refi | 5.82% | 11/17/24 |
| 15 Year Cash-out Refi | 5.82% | 11/17/24 |
| 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. | ||
Comerica Bank Mortgage Calculator
Your Estimates
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This is not an official calculator from Comerica 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
4,039Origination Dollar Volume (All Markets)
$1,183,585,000Awards
Comerica Bank - 2023
Comerica Bank is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Comerica Bank's average 30 year fixed mortgage rate was
5.85%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.63%.
Relative Fees (Closing Costs)
Comerica Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,523.
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 |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 503 | $207,645,000 | $412,813 | $6,966 | 5.79% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1,103 | $171,485,000 | $155,471 | $3,024 | 5.90% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 407 | $148,295,000 | $364,361 | $6,792 | 5.97% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 200 | $72,620,000 | $363,100 | $5,446 | 5.74% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 322 | $66,470,000 | $206,429 | $6,468 | 5.94% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 223 | $65,165,000 | $292,220 | $10,335 | 5.78% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 42 | $39,630,000 | $943,571 | $11,748 | 5.80% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 111 | $38,485,000 | $346,712 | $11,792 | 5.76% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 173 | $34,205,000 | $197,717 | $5,422 | 5.80% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1 | $26,665,000 | $26,665,000 | $0 | 7.65% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 84 | $26,160,000 | $311,429 | $2,980 | 5.72% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $25,005,000 | $25,005,000 | $0 | 7.85% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 63 | $18,665,000 | $296,270 | $10,554 | 5.89% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $18,355,000 | $18,355,000 | $0 | 7.58% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1 | $18,105,000 | $18,105,000 | $0 | 7.64% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 19 | $17,245,000 | $907,632 | $17,092 | 5.71% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 101 | $13,265,000 | $131,337 | $3,275 | 5.87% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 78 | $13,230,000 | $169,615 | $8,868 | 5.79% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 8 | $12,160,000 | $1,520,000 | $12,172 | 6.03% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 41 | $11,495,000 | $280,366 | $2,859 | 5.84% |
| ANN ARBOR, MI (FHA|USDA|VA) | 59 | $10,035,000 | $170,085 | $3,341 | 5.82% |
| Glenwood Springs, CO (FHA|USDA|VA) | 2 | $9,890,000 | $4,945,000 | $8,155 | 6.50% |
| Athens, TX (FHA|USDA|VA) | 5 | $8,935,000 | $1,787,000 | $19,051 | 5.77% |
| Outside of Metro Areas | 41 | $8,325,000 | $203,049 | $4,500 | 6.06% |
| JACKSON, MI (FHA|USDA|VA) | 70 | $6,790,000 | $97,000 | $2,842 | 5.91% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 2 | $6,090,000 | $3,045,000 | $6,288 | 6.44% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 16 | $5,790,000 | $361,875 | $19,840 | 6.09% |
| SALINAS, CA (FHA|USDA|VA) | 25 | $5,555,000 | $222,200 | $3,322 | 5.82% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 45 | $5,285,000 | $117,444 | $3,084 | 5.90% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 3 | $4,865,000 | $1,621,667 | $21,041 | 5.79% |
| MUSKEGON, MI (FHA|USDA|VA) | 42 | $4,320,000 | $102,857 | $2,448 | 5.90% |
| NAPA, CA (FHA|USDA|VA) | 3 | $3,415,000 | $1,138,333 | $0 | 5.58% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 1 | $3,285,000 | $3,285,000 | $10,677 | 5.88% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 30 | $3,100,000 | $103,333 | $3,046 | 5.91% |
| Hailey, ID (FHA|USDA|VA) | 1 | $3,005,000 | $3,005,000 | $13,798 | 7.00% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $3,005,000 | $3,005,000 | $11,937 | 5.25% |
| BATTLE CREEK, MI (FHA|USDA|VA) | 36 | $2,670,000 | $74,167 | $2,610 | 5.97% |
| Jackson, WY-ID (FHA|USDA|VA) | 1 | $2,265,000 | $2,265,000 | $0 | 7.25% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 1 | $2,095,000 | $2,095,000 | $12,609 | 5.88% |
| Edwards, CO (FHA|USDA|VA) | 1 | $2,005,000 | $2,005,000 | $5,336 | 6.50% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $2,005,000 | $2,005,000 | $4,701 | 5.50% |
| RENO, NV (FHA|USDA|VA) | 1 | $1,915,000 | $1,915,000 | $6,520 | 5.38% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $1,915,000 | $1,915,000 | $11,188 | 6.38% |
| STOCKTON, CA (FHA|USDA|VA) | 8 | $1,720,000 | $215,000 | $3,412 | 5.79% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 4 | $1,680,000 | $420,000 | $0 | 5.62% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 10 | $1,660,000 | $166,000 | $0 | 5.92% |
| Adrian, MI (FHA|USDA|VA) | 15 | $1,515,000 | $101,000 | $1,843 | 5.93% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 11 | $1,445,000 | $131,364 | $0 | 5.92% |
| Kerrville, TX (FHA|USDA|VA) | 8 | $1,440,000 | $180,000 | $5,059 | 5.90% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 3 | $1,405,000 | $468,333 | $0 | 5.82% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $1,385,000 | $1,385,000 | $12,376 | 5.38% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 3 | $1,295,000 | $431,667 | $3,993 | 6.83% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 4 | $1,260,000 | $315,000 | $4,134 | 5.74% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 5 | $1,245,000 | $249,000 | $9,181 | 5.92% |
| FLINT, MI (FHA|USDA|VA) | 15 | $1,165,000 | $77,667 | $3,345 | 6.08% |
| FRESNO, CA (FHA|USDA|VA) | 3 | $1,165,000 | $388,333 | $0 | 5.66% |
| Traverse City, MI (FHA|USDA|VA) | 2 | $1,110,000 | $555,000 | $14,272 | 5.81% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $985,000 | $985,000 | $21,025 | 5.00% |
| Holland, MI (FHA|USDA|VA) | 5 | $905,000 | $181,000 | $0 | 5.59% |
| MIDLAND, MI (FHA|USDA|VA) | 6 | $790,000 | $131,667 | $3,372 | 6.16% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $4,625 | 6.75% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $2,860 | 6.38% |
| VALLEJO, CA (FHA|USDA|VA) | 4 | $550,000 | $137,500 | $3,747 | 5.74% |
| Big Rapids, MI (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $3,097 | 6.56% |
| Sonora, CA (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $0 | 5.49% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 3 | $495,000 | $165,000 | $0 | 5.74% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 3 | $445,000 | $148,333 | $0 | 5.82% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $0 | 5.62% |
| MODESTO, CA (FHA|USDA|VA) | 4 | $420,000 | $105,000 | $11,455 | 5.71% |
| Hillsdale, MI (FHA|USDA|VA) | 3 | $415,000 | $138,333 | $0 | 6.32% |
| MONROE, MI (FHA|USDA|VA) | 5 | $415,000 | $83,000 | $0 | 6.04% |
| Centralia, WA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $3,561 | 7.00% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 3 | $345,000 | $115,000 | $0 | 5.82% |
| SAGINAW, MI (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $2,974 | 5.87% |
| NILES, MI (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 5.99% |
| TUCSON, AZ (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $0 | 5.87% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $0 | 5.74% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $0 | 6.37% |
| VISALIA, CA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 5.49% |
| Cadillac, MI (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 5.74% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,034 | 5.50% |
| Bonham, TX (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 6.99% |
| CHICO, CA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 5.74% |
| BAY CITY, MI (FHA|USDA|VA) | 3 | $195,000 | $65,000 | $2,369 | 5.95% |
| Show Low, AZ (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 5.49% |
| MADERA, CA (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $0 | 5.49% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 7.50% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,724 | 7.25% |
| Payson, AZ (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 5.74% |
| ABILENE, TX (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $5,699 | 7.38% |
| Sault Ste. Marie, MI (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 5.74% |
| Paris, TX (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 5.99% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 5.74% |
| LUBBOCK, TX (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,211 | 8.13% |
| Ludington, MI (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 5.74% |
| BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 5.99% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 5.49% |
Similar Lenders
We use machine learning to identify the top lenders compared against Comerica Bank 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
For 2023, Comerica Bank's most frequently originated type of loan was HELOC, with 3,658 originations. Their 2nd most popular type was Conventional, with 374 originations.
Loan Reason
For 2023, Comerica Bank's most frequently cited loan purpose was Home Improvement, with 1,416 originations. The 2nd most popular reason was Refi, with 1,309 originations.
Loan Duration/Length
For 2023, Comerica Bank's most frequently cited loan duration was 30 Year, with 3,948 originations. The 2nd most popular length was 15 Year, with 49 originations.
Origination Fees/Closing Costs
Comerica Bank's average total fees were $5,523, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 249 originations.
Interest Rates
During 2023, Comerica Bank's average interest rate for loans was 5.85%, while their most frequently originated rate bucket for loans was 5-6%, with 3,531 originations.
Loan Sizing
2023 saw Comerica Bank place emphasis on $100k-200k loans with 1,309 originations, totaling $175,625,000 in origination value.
Applicant Income
Comerica Bank lent most frequently to those with incomes in the $150k-250k range, with 870 originations. The second most popular income band? $250k+, with 838 originations.
Applicant Debt to Income Ratio
Comerica Bank lent most frequently to those with DTI ratios of 20-30%, with 835 originations. The next most common DTI ratio? 30-36%, with 680 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications58.57%
Comerica Bank has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination74.30%
Comerica Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 4,039 | $1,183,585,000 | $293,039 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4,039 | $1,183,585,000 | $293,039 |