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 Refi and Home Purchase 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, San Francisco, Detroit, Dallas, and Houston among others. We have data for 115 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 4/28/24 |
| 30 Year Conventional Purchase | 6.52% | 4/28/24 |
| 30 Year Conventional Refi | 6.25% | 4/28/24 |
| 30 Year Cash-out Refi | 6.55% | 4/28/24 |
| 30 Year FHA Purchase | 6.81% | 4/28/24 |
| 30 Year FHA Refi | 6.27% | 4/28/24 |
| 15 Year Conventional Purchase | 6.13% | 4/28/24 |
| 15 Year Conventional Refi | 5.82% | 4/28/24 |
| 15 Year Cash-out Refi | 5.82% | 4/28/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
6,754Origination Dollar Volume (All Markets)
$2,789,380,000Awards
Comerica Bank - 2022
Comerica Bank is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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) | 1,174 | $574,140,000 | $489,046 | $7,760 | 2.88% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 498 | $298,020,000 | $598,434 | $5,214 | 2.75% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1,399 | $259,455,000 | $185,457 | $3,304 | 3.12% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 583 | $236,945,000 | $406,424 | $5,354 | 2.95% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 468 | $143,970,000 | $307,628 | $4,778 | 2.87% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 254 | $128,540,000 | $506,063 | $5,551 | 2.72% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 367 | $93,975,000 | $256,063 | $6,295 | 2.81% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 89 | $92,985,000 | $1,044,775 | $17,120 | 3.07% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 384 | $92,000,000 | $239,583 | $2,661 | 2.70% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 34 | $85,260,000 | $2,507,647 | $3,811 | 3.00% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 145 | $82,065,000 | $565,966 | $12,583 | 2.91% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 3 | $77,815,000 | $25,938,333 | $0 | 4.91% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 6 | $54,500,000 | $9,083,333 | $12,649 | 4.02% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 2 | $52,530,000 | $26,265,000 | $6,127 | 4.02% |
| ANN ARBOR, MI (FHA|USDA|VA) | 93 | $42,775,000 | $459,946 | $2,314 | 3.15% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $40,005,000 | $40,005,000 | $0 | 2.13% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 176 | $33,780,000 | $191,932 | $4,202 | 3.07% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 125 | $28,885,000 | $231,080 | $2,434 | 2.89% |
| Outside of Metro Areas | 65 | $24,285,000 | $373,615 | $4,375 | 3.09% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 1 | $20,805,000 | $20,805,000 | $0 | 3.25% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $20,805,000 | $20,805,000 | $0 | 4.36% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 31 | $19,985,000 | $644,677 | $11,605 | 2.93% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 70 | $18,740,000 | $267,714 | $6,949 | 3.02% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 15 | $17,865,000 | $1,191,000 | $10,052 | 3.16% |
| SALINAS, CA (FHA|USDA|VA) | 51 | $15,585,000 | $305,588 | $1,826 | 2.53% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 2 | $15,360,000 | $7,680,000 | $6,466 | 4.38% |
| Edwards, CO (FHA|USDA|VA) | 2 | $14,970,000 | $7,485,000 | $11,396 | 4.19% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 102 | $14,700,000 | $144,118 | $2,439 | 3.28% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 48 | $13,530,000 | $281,875 | $2,771 | 3.31% |
| MUSKEGON, MI (FHA|USDA|VA) | 54 | $13,190,000 | $244,259 | $2,451 | 3.19% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $12,035,000 | $12,035,000 | $0 | 7.12% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $11,275,000 | $11,275,000 | $0 | 3.60% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 40 | $9,200,000 | $230,000 | $3,241 | 2.88% |
| JACKSON, MI (FHA|USDA|VA) | 76 | $8,750,000 | $115,132 | $2,748 | 3.32% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 55 | $8,345,000 | $151,727 | $2,728 | 3.16% |
| BATTLE CREEK, MI (FHA|USDA|VA) | 42 | $6,520,000 | $155,238 | $2,279 | 3.35% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 3 | $5,985,000 | $1,995,000 | $3,670 | 3.96% |
| STOCKTON, CA (FHA|USDA|VA) | 24 | $5,710,000 | $237,917 | $4,319 | 2.84% |
| BAY CITY, MI (FHA|USDA|VA) | 2 | $5,480,000 | $2,740,000 | $0 | 2.29% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 10 | $5,280,000 | $528,000 | $9,353 | 2.91% |
| Kerrville, TX (FHA|USDA|VA) | 25 | $5,265,000 | $210,600 | $5,406 | 3.46% |
| SAGINAW, MI (FHA|USDA|VA) | 3 | $4,945,000 | $1,648,333 | $0 | 4.52% |
| Traverse City, MI (FHA|USDA|VA) | 12 | $4,150,000 | $345,833 | $3,897 | 3.90% |
| VALLEJO, CA (FHA|USDA|VA) | 11 | $2,975,000 | $270,455 | $3,371 | 2.20% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 2 | $2,700,000 | $1,350,000 | $0 | 3.62% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 13 | $2,675,000 | $205,769 | $4,804 | 2.84% |
| Heber, UT (FHA|USDA|VA) | 1 | $2,645,000 | $2,645,000 | $8,900 | 4.50% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 2 | $2,640,000 | $1,320,000 | $7,441 | 2.94% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 9 | $2,625,000 | $291,667 | $0 | 2.46% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 7 | $2,525,000 | $360,714 | $0 | 3.03% |
| Holland, MI (FHA|USDA|VA) | 9 | $2,495,000 | $277,222 | $3,086 | 3.48% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 7 | $2,195,000 | $313,571 | $3,304 | 3.35% |
| SANTA FE, NM (FHA|USDA|VA) | 1 | $2,005,000 | $2,005,000 | $11,469 | 4.00% |
| Key West, FL (FHA|USDA|VA) | 1 | $2,005,000 | $2,005,000 | $13,002 | 4.38% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $1,945,000 | $1,945,000 | $9,508 | 3.00% |
| NAPA, CA (FHA|USDA|VA) | 7 | $1,945,000 | $277,857 | $0 | 3.37% |
| Adrian, MI (FHA|USDA|VA) | 14 | $1,900,000 | $135,714 | $2,321 | 3.34% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 1 | $1,825,000 | $1,825,000 | $7,539 | 4.38% |
| Boone, NC (FHA|USDA|VA) | 1 | $1,805,000 | $1,805,000 | $6,692 | 3.38% |
| MADERA, CA (FHA|USDA|VA) | 1 | $1,795,000 | $1,795,000 | $0 | 7.35% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 2 | $1,630,000 | $815,000 | $8,325 | 4.63% |
| FLINT, MI (FHA|USDA|VA) | 17 | $1,615,000 | $95,000 | $4,131 | 3.40% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 6 | $1,610,000 | $268,333 | $3,168 | 3.26% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 7 | $1,595,000 | $227,857 | $0 | 2.74% |
| Athens, TX (FHA|USDA|VA) | 3 | $1,505,000 | $501,667 | $3,864 | 4.67% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1 | $1,395,000 | $1,395,000 | $6,291 | 4.50% |
| Granbury, TX (FHA|USDA|VA) | 2 | $1,210,000 | $605,000 | $20,440 | 4.93% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 1 | $1,205,000 | $1,205,000 | $6,064 | 4.63% |
| MIDLAND, MI (FHA|USDA|VA) | 10 | $1,060,000 | $106,000 | $0 | 3.64% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $1,005,000 | $1,005,000 | $5,566 | 5.75% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 5 | $985,000 | $197,000 | $4,307 | 2.69% |
| TULSA, OK (FHA|USDA|VA) | 1 | $985,000 | $985,000 | $3,949 | 4.88% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $905,000 | $905,000 | $0 | 4.25% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 5 | $825,000 | $165,000 | $0 | 2.24% |
| FRESNO, CA (FHA|USDA|VA) | 7 | $795,000 | $113,571 | $0 | 3.17% |
| KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) | 1 | $775,000 | $775,000 | $0 | 6.50% |
| MODESTO, CA (FHA|USDA|VA) | 3 | $655,000 | $218,333 | $0 | 3.12% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $7,105 | 4.00% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $4,213 | 4.50% |
| MONROE, MI (FHA|USDA|VA) | 4 | $630,000 | $157,500 | $2,374 | 2.43% |
| Hillsdale, MI (FHA|USDA|VA) | 5 | $595,000 | $119,000 | $3,135 | 4.15% |
| TEXARKANA, TX-AR (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $0 | 1.99% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $9,939 | 4.38% |
| CLEVELAND, TN (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $3,163 | 5.50% |
| Sturgis, MI (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $2,289 | 4.00% |
| REDDING, CA (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 1.99% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $2,803 | 2.50% |
| LONGVIEW, TX (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $5,149 | 4.75% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 3 | $325,000 | $108,333 | $4,224 | 3.04% |
| AMARILLO, TX (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $6,821 | 5.75% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $3,319 | 3.38% |
| Gardnerville Ranchos, NV (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $7,099 | 4.13% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $10,833 | 3.25% |
| LUBBOCK, TX (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $4,120 | 4.00% |
| Fredericksburg, TX (FHA|USDA|VA) | 3 | $265,000 | $88,333 | $4,990 | 3.49% |
| Bonham, TX (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 3.24% |
| TUCSON, AZ (FHA|USDA|VA) | 3 | $265,000 | $88,333 | $0 | 1.99% |
| Brevard, NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,792 | 3.00% |
| MERCED, CA (FHA|USDA|VA) | 2 | $220,000 | $110,000 | $0 | 1.99% |
| YUBA CITY, CA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $7,318 | 5.50% |
| WACO, TX (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 1.99% |
| Payson, AZ (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $0 | 1.99% |
| Big Rapids, MI (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 5.49% |
| Stephenville, TX (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 5.74% |
| Cadillac, MI (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 1.99% |
| Show Low, AZ (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 2.49% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 1.99% |
| OCALA, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 1.99% |
| SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 1.99% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 2 | $100,000 | $50,000 | $0 | 2.62% |
| YUMA, AZ (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,257 | 2.25% |
| Brenham, TX (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 2.49% |
| Altus, OK (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,840 | 5.50% |
| Mount Pleasant, MI (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 1.99% |
| Sonora, CA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 3.24% |
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 2022, Comerica Bank's most frequently originated type of loan was HELOC, with 6,092 originations. Their 2nd most popular type was Conventional, with 656 originations.
Loan Reason
For 2022, Comerica Bank's most frequently cited loan purpose was Home Improvement, with 2,818 originations. The 2nd most popular reason was Other, with 1,700 originations.
Loan Duration/Length
For 2022, Comerica Bank's most frequently cited loan duration was 30 Year, with 6,454 originations. The 2nd most popular length was 15 Year, with 146 originations.
Origination Fees/Closing Costs
Comerica Bank's average total fees were $5,626, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 384 originations.
Interest Rates
During 2022, Comerica Bank's average interest rate for loans was 2.90%, while their most frequently originated rate bucket for loans was <2.5%, with 4,285 originations.
Loan Sizing
2022 saw Comerica Bank place emphasis on $100k-200k loans with 2,144 originations, totaling $291,600,000 in origination value.
Applicant Income
Comerica Bank lent most frequently to those with incomes in the $150k-250k range, with 1,699 originations. The second most popular income band? $250k+, with 1,493 originations.
Applicant Debt to Income Ratio
Comerica Bank lent most frequently to those with DTI ratios of 20-30%, with 1,385 originations. The next most common DTI ratio? 30-36%, with 1,158 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications62.95%
Comerica Bank has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination80.50%
Comerica Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 6,754 | $2,789,380,000 | $412,997 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6,754 | $2,789,380,000 | $412,997 |