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 smaller bank specializing in Refi and Home Improvement loans. Comerica Bank has an average 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, San Francisco, Dallas, and Houston among others. We have data for 86 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 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 5.11% | 4/5/25 |
| 30 Year Conventional Purchase | 7.02% | 4/5/25 |
| 30 Year Conventional Refi | 6.79% | 4/5/25 |
| 30 Year Cash-out Refi | 7.15% | 4/5/25 |
| 30 Year FHA Purchase | 7.28% | 4/5/25 |
| 15 Year Conventional Purchase | 6.40% | 4/5/25 |
| 15 Year Conventional Refi | 6.28% | 4/5/25 |
| 15 Year Cash-out Refi | 6.28% | 4/5/25 |
| 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
3,218Origination Dollar Volume (All Markets)
$852,410,000Awards
Comerica Bank - 2024
Comerica Bank is a 2024 , due to their low .
For 2024, 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
6.55%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0%.
Relative Fees (Closing Costs)
Comerica Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,741.
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 $8,356.
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) | 424 | $170,080,000 | $401,132 | $7,199 | 6.54% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 881 | $137,365,000 | $155,919 | $3,259 | 6.53% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 155 | $91,095,000 | $587,710 | $4,757 | 6.53% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 339 | $86,105,000 | $253,997 | $6,341 | 6.58% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 316 | $61,680,000 | $195,190 | $6,089 | 6.58% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 118 | $51,040,000 | $432,542 | $4,141 | 6.60% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 124 | $44,760,000 | $360,968 | $13,728 | 6.55% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 110 | $21,630,000 | $196,636 | $4,415 | 6.53% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 88 | $20,970,000 | $238,295 | $8,325 | 6.51% |
| ANN ARBOR, MI (FHA|USDA|VA) | 62 | $11,820,000 | $190,645 | $3,182 | 6.51% |
| Outside of Metro Areas | 33 | $11,415,000 | $345,909 | $5,730 | 6.60% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 55 | $11,215,000 | $203,909 | $4,816 | 6.59% |
| NAPA, CA (FHA|USDA|VA) | 1 | $10,855,000 | $10,855,000 | $0 | 6.50% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $9,005,000 | $9,005,000 | $0 | 7.67% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 33 | $8,965,000 | $271,667 | $5,332 | 6.59% |
| JACKSON, MI (FHA|USDA|VA) | 63 | $7,415,000 | $117,698 | $4,200 | 6.52% |
| SALINAS, CA (FHA|USDA|VA) | 36 | $7,200,000 | $200,000 | $8,458 | 6.60% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 57 | $7,155,000 | $125,526 | $2,385 | 6.58% |
| KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) | 1 | $6,825,000 | $6,825,000 | $0 | 8.44% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 30 | $6,550,000 | $218,333 | $3,102 | 6.51% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 2 | $6,510,000 | $3,255,000 | $0 | 5.75% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 39 | $5,205,000 | $133,462 | $3,540 | 6.58% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 11 | $4,015,000 | $365,000 | $0 | 6.51% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 16 | $3,800,000 | $237,500 | $0 | 6.52% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 27 | $3,595,000 | $133,148 | $3,229 | 6.69% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 12 | $3,270,000 | $272,500 | $0 | 6.51% |
| AMARILLO, TX (FHA|USDA|VA) | 1 | $3,255,000 | $3,255,000 | $0 | 7.58% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 12 | $3,080,000 | $256,667 | $7,661 | 6.67% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 2 | $2,970,000 | $1,485,000 | $11,608 | 6.00% |
| MUSKEGON, MI (FHA|USDA|VA) | 25 | $2,885,000 | $115,400 | $2,481 | 6.63% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 4 | $1,990,000 | $497,500 | $0 | 6.96% |
| BATTLE CREEK, MI (FHA|USDA|VA) | 16 | $1,860,000 | $116,250 | $3,469 | 6.65% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $1,805,000 | $1,805,000 | $7,380 | 6.13% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 5 | $1,605,000 | $321,000 | $6,191 | 6.67% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 4 | $1,400,000 | $350,000 | $0 | 6.74% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 2 | $1,360,000 | $680,000 | $4,966 | 6.50% |
| Adrian, MI (FHA|USDA|VA) | 10 | $1,320,000 | $132,000 | $5,287 | 6.38% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $1,155,000 | $1,155,000 | $9,519 | 6.88% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 6 | $1,080,000 | $180,000 | $5,742 | 6.58% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 1 | $1,005,000 | $1,005,000 | $3,120 | 6.63% |
| Kerrville, TX (FHA|USDA|VA) | 10 | $1,000,000 | $100,000 | $0 | 6.50% |
| STOCKTON, CA (FHA|USDA|VA) | 5 | $945,000 | $189,000 | $0 | 6.54% |
| Holland, MI (FHA|USDA|VA) | 5 | $895,000 | $179,000 | $3,586 | 6.89% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 5 | $735,000 | $147,000 | $2,904 | 6.62% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $0 | 6.74% |
| Traverse City, MI (FHA|USDA|VA) | 2 | $660,000 | $330,000 | $3,540 | 6.25% |
| FRESNO, CA (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $0 | 6.24% |
| ST. GEORGE, UT (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $3,909 | 5.38% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $6,660 | 7.24% |
| MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $2,951 | 7.25% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $0 | 6.74% |
| Eureka-Arcata, CA (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $0 | 6.49% |
| VALLEJO, CA (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $0 | 6.74% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $3,590 | 6.81% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 5 | $475,000 | $95,000 | $0 | 6.54% |
| FLINT, MI (FHA|USDA|VA) | 5 | $465,000 | $93,000 | $2,443 | 6.87% |
| MIDLAND, MI (FHA|USDA|VA) | 6 | $450,000 | $75,000 | $2,564 | 6.66% |
| TYLER, TX (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $6,312 | 7.13% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 6.99% |
| Hillsdale, MI (FHA|USDA|VA) | 3 | $325,000 | $108,333 | $2,105 | 6.82% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $8,458 | 6.63% |
| CHICO, CA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 6.99% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $2,556 | 6.00% |
| MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,206 | 6.99% |
| LAS CRUCES, NM (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,240 | 6.38% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 7.13% |
| MONROE, MI (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $0 | 6.62% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 6.49% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 6.99% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,740 | 7.13% |
| Mount Pleasant, MI (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $0 | 6.99% |
| Roswell, NM (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,368 | 6.99% |
| BAY CITY, MI (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $1,682 | 7.56% |
| Big Rapids, MI (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $2,552 | 6.49% |
| MODESTO, CA (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $0 | 6.49% |
| Stephenville, TX (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 6.49% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 6.49% |
| Sault Ste. Marie, MI (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 6.24% |
| WACO, TX (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 6.99% |
| YUBA CITY, CA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 6.24% |
| Fredericksburg, TX (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 6.49% |
| Bonham, TX (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 6.99% |
| Sonora, CA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 6.49% |
| OCALA, FL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 6.49% |
| Granbury, TX (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 6.49% |
| MERCED, CA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 6.49% |
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 2024, Comerica Bank's most frequently originated type of loan was HELOC, with 2,866 originations. Their 2nd most popular type was Conventional, with 336 originations.
Loan Reason
For 2024, Comerica Bank's most frequently cited loan purpose was Refi, with 1,083 originations. The 2nd most popular reason was Home Improvement, with 1,047 originations.
Loan Duration/Length
For 2024, Comerica Bank's most frequently cited loan duration was 30 Year, with 3,153 originations. The 2nd most popular length was 20 Year, with 26 originations.
Origination Fees/Closing Costs
Comerica Bank's average total fees were $4,741, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 208 originations.
Interest Rates
During 2024, Comerica Bank's average interest rate for loans was 6.55%, while their most frequently originated rate bucket for loans was 6-7%, with 3,069 originations.
Loan Sizing
2024 saw Comerica Bank place emphasis on $100k-200k loans with 1,026 originations, totaling $137,720,000 in origination value.
Applicant Income
Comerica Bank lent most frequently to those with incomes in the $250k+ range, with 848 originations. The second most popular income band? $150k-250k, with 691 originations.
Applicant Debt to Income Ratio
Comerica Bank lent most frequently to those with DTI ratios of 45%, with 605 originations. The next most common DTI ratio? 20-30%, with 576 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications57.03%
Comerica Bank has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination71.63%
Comerica Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 3,218 | $852,410,000 | $264,888 |