Commerce Bank Mortgage Rates, Fees & Info
Kansas City, MOLEI: 7DMUJTL9FFTVIAG9H788
Tax ID: 48-0962626
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Mortgage Data
Review & Overview
Commerce Bank is a smaller bank specializing in Home Purchase loans. Commerce 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.) They have a low ratio of USDA loans. Their top markets by origination volume include: Kansas City, St. Louis, Denver, Springfield, and Wichita among others. We have data for 126 markets. (Some data included below & more in-depth data is available with an active subscription.)Commerce Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Commerce 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 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 | 6.92% | 11/17/24 |
| 30 Year Conventional Refi | 6.97% | 11/17/24 |
| 30 Year Cash-out Refi | 6.98% | 11/17/24 |
| 30 Year FHA Purchase | 7.43% | 11/17/24 |
| 30 Year FHA Refi | 7.21% | 11/17/24 |
| 30 Year VA Purchase | 6.40% | 11/17/24 |
| 30 Year USDA Purchase | 7.04% | 11/17/24 |
| 15 Year Conventional Purchase | 6.27% | 11/17/24 |
| 15 Year Conventional Refi | 6.22% | 11/17/24 |
| 15 Year Cash-out Refi | 6.22% | 11/17/24 |
| 15 Year FHA Purchase | 5.68% | 11/17/24 |
| 15 Year FHA Refi | 6.87% | 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. | ||
Commerce Bank Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Commerce 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
4,379Origination Dollar Volume (All Markets)
$799,965,000Awards
Commerce Bank - 2023
Commerce 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
Commerce Bank's average 30 year fixed mortgage rate was
6.47%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.01%.
Relative Fees (Closing Costs)
Commerce Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,632.
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 |
|---|---|---|---|---|---|
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 1,514 | $235,870,000 | $155,793 | $1,442 | 6.04% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1,238 | $169,370,000 | $136,809 | $1,381 | 6.38% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 171 | $90,105,000 | $526,930 | $4,131 | 6.07% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 251 | $31,365,000 | $124,960 | $1,363 | 6.26% |
| Outside of Metro Areas | 143 | $28,165,000 | $196,958 | $2,366 | 6.54% |
| WICHITA, KS (FHA|USDA|VA) | 151 | $24,945,000 | $165,199 | $2,193 | 6.12% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 9 | $15,685,000 | $1,742,778 | $11,726 | 5.26% |
| ST. JOSEPH, MO-KS (FHA|USDA|VA) | 97 | $12,635,000 | $130,258 | $1,653 | 6.67% |
| COLUMBIA, MO (FHA|USDA|VA) | 72 | $11,670,000 | $162,083 | $1,339 | 6.43% |
| PEORIA, IL (FHA|USDA|VA) | 74 | $7,610,000 | $102,838 | $1,552 | 5.92% |
| JOPLIN, MO (FHA|USDA|VA) | 55 | $7,395,000 | $134,455 | $2,750 | 6.01% |
| Heber, UT (FHA|USDA|VA) | 2 | $7,010,000 | $3,505,000 | $10,329 | 3.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 7 | $6,605,000 | $943,571 | $8,720 | 6.46% |
| LAWRENCE, KS (FHA|USDA|VA) | 51 | $6,135,000 | $120,294 | $1,611 | 5.79% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 17 | $5,575,000 | $327,941 | $4,906 | 5.14% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 6 | $5,420,000 | $903,333 | $6,492 | 6.13% |
| CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) | 45 | $5,375,000 | $119,444 | $1,177 | 6.04% |
| Breckenridge, CO (FHA|USDA|VA) | 7 | $5,155,000 | $736,429 | $3,400 | 5.91% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 5 | $4,955,000 | $991,000 | $5,390 | 6.23% |
| TULSA, OK (FHA|USDA|VA) | 20 | $4,820,000 | $241,000 | $4,778 | 5.99% |
| BOULDER, CO (FHA|USDA|VA) | 6 | $4,740,000 | $790,000 | $4,305 | 6.21% |
| Edwards, CO (FHA|USDA|VA) | 4 | $4,540,000 | $1,135,000 | $8,742 | 4.65% |
| FORT COLLINS, CO (FHA|USDA|VA) | 7 | $3,915,000 | $559,286 | $2,992 | 3.94% |
| MANHATTAN, KS (FHA|USDA|VA) | 18 | $3,730,000 | $207,222 | $2,082 | 6.23% |
| JEFFERSON CITY, MO (FHA|USDA|VA) | 35 | $3,575,000 | $102,143 | $1,311 | 6.75% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 10 | $3,530,000 | $353,000 | $4,848 | 6.79% |
| Hannibal, MO (FHA|USDA|VA) | 17 | $3,445,000 | $202,647 | $1,640 | 6.55% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 4 | $3,400,000 | $850,000 | $6,797 | 5.63% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 3 | $3,205,000 | $1,068,333 | $6,982 | 6.00% |
| Pittsburg, KS (FHA|USDA|VA) | 29 | $2,915,000 | $100,517 | $1,597 | 7.14% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $2,775,000 | $2,775,000 | $11,355 | 2.88% |
| Branson, MO (FHA|USDA|VA) | 19 | $2,475,000 | $130,263 | $1,372 | 6.03% |
| BLOOMINGTON, IL (FHA|USDA|VA) | 39 | $2,465,000 | $63,205 | $423 | 6.60% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 5 | $2,465,000 | $493,000 | $7,112 | 4.03% |
| Lebanon, MO (FHA|USDA|VA) | 16 | $2,330,000 | $145,625 | $2,666 | 6.39% |
| Moberly, MO (FHA|USDA|VA) | 25 | $2,185,000 | $87,400 | $1,188 | 7.34% |
| Hays, KS (FHA|USDA|VA) | 13 | $2,005,000 | $154,231 | $2,440 | 7.17% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 3 | $1,965,000 | $655,000 | $3,981 | 6.00% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 3 | $1,955,000 | $651,667 | $3,337 | 6.54% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 4 | $1,910,000 | $477,500 | $2,871 | 3.90% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 12 | $1,790,000 | $149,167 | $2,061 | 6.96% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 2 | $1,720,000 | $860,000 | $6,254 | 5.88% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 2 | $1,710,000 | $855,000 | $4,747 | 5.94% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 4 | $1,670,000 | $417,500 | $5,673 | 6.47% |
| TUCSON, AZ (FHA|USDA|VA) | 2 | $1,570,000 | $785,000 | $14,675 | 6.38% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 2 | $1,410,000 | $705,000 | $5,093 | 4.75% |
| TOPEKA, KS (FHA|USDA|VA) | 9 | $1,405,000 | $156,111 | $2,008 | 5.95% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 1 | $1,375,000 | $1,375,000 | $4,093 | 5.50% |
| GREELEY, CO (FHA|USDA|VA) | 3 | $1,375,000 | $458,333 | $6,475 | 5.71% |
| Oxford, MS (FHA|USDA|VA) | 3 | $1,325,000 | $441,667 | $4,372 | 5.33% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 2 | $1,290,000 | $645,000 | $4,988 | 6.06% |
| Hutchinson, KS (FHA|USDA|VA) | 15 | $1,265,000 | $84,333 | $1,906 | 6.26% |
| Garden City, KS (FHA|USDA|VA) | 7 | $1,225,000 | $175,000 | $3,164 | 5.18% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 1 | $1,225,000 | $1,225,000 | $4,660 | 5.75% |
| BOISE CITY, ID (FHA|USDA|VA) | 3 | $1,165,000 | $388,333 | $7,174 | 6.25% |
| LYNCHBURG, VA (FHA|USDA|VA) | 1 | $1,155,000 | $1,155,000 | $7,407 | 5.88% |
| Mexico, MO (FHA|USDA|VA) | 12 | $1,060,000 | $88,333 | $1,141 | 7.46% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 2 | $1,040,000 | $520,000 | $2,334 | 4.93% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $1,005,000 | $1,005,000 | $3,936 | 6.88% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $995,000 | $995,000 | $7,495 | 5.88% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $955,000 | $955,000 | $6,203 | 7.25% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $945,000 | $945,000 | $8,227 | 6.13% |
| Warrensburg, MO (FHA|USDA|VA) | 3 | $925,000 | $308,333 | $5,299 | 6.86% |
| Fort Morgan, CO (FHA|USDA|VA) | 1 | $905,000 | $905,000 | $4,149 | 7.25% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $865,000 | $865,000 | $4,018 | 6.13% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $855,000 | $855,000 | $7,586 | 5.75% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 2 | $840,000 | $420,000 | $4,289 | 5.88% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 2 | $830,000 | $415,000 | $3,647 | 6.63% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $805,000 | $805,000 | $4,294 | 5.50% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 1 | $765,000 | $765,000 | $2,688 | 6.50% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $755,000 | $755,000 | $4,283 | 7.25% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $4,762 | 5.25% |
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 1 | $715,000 | $715,000 | $2,463 | 7.13% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $2,857 | 6.94% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $675,000 | $675,000 | $6,284 | 6.38% |
| Poplar Bluff, MO (FHA|USDA|VA) | 6 | $660,000 | $110,000 | $0 | 8.05% |
| Bozeman, MT (FHA|USDA|VA) | 1 | $655,000 | $655,000 | $5,586 | 5.50% |
| Quincy, IL-MO (FHA|USDA|VA) | 4 | $610,000 | $152,500 | $2,484 | 7.22% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $6,040 | 6.00% |
| Hudson, NY (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $3,838 | 5.88% |
| Rolla, MO (FHA|USDA|VA) | 3 | $595,000 | $198,333 | $3,107 | 6.15% |
| Ludington, MI (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $0 | 2.99% |
| Sikeston, MO (FHA|USDA|VA) | 5 | $525,000 | $105,000 | $2,612 | 5.70% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $2,543 | 7.25% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $4,976 | 6.25% |
| Dodge City, KS (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $2,608 | 6.25% |
| EL PASO, TX (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $4,366 | 7.25% |
| Ottawa, KS (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $2,229 | 6.31% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $4,049 | 5.75% |
| FORT SMITH, AR-OK (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $3,411 | 6.38% |
| Gillette, WY (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $7,158 | 5.63% |
| Granbury, TX (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $16,079 | 6.88% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $4,105 | 7.13% |
| SAVANNAH, GA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $4,029 | 6.63% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 2.99% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,098 | 6.75% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 7.23% |
| Farmington, MO (FHA|USDA|VA) | 4 | $320,000 | $80,000 | $1,981 | 6.42% |
| CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 4 | $310,000 | $77,500 | $0 | 6.18% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $2,934 | 5.88% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $2,780 | 6.63% |
| Winfield, KS (FHA|USDA|VA) | 3 | $285,000 | $95,000 | $3,549 | 5.50% |
| ANCHORAGE, AK (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $2,679 | 5.88% |
| ABILENE, TX (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $6,167 | 7.38% |
| YUMA, AZ (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $4,069 | 5.25% |
| Altus, OK (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,509 | 6.63% |
| OCALA, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $5,467 | 6.00% |
| Emporia, KS (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,237 | 6.13% |
| Shawnee, OK (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,655 | 5.75% |
| IOWA CITY, IA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $1,664 | 5.50% |
| URBAN HONOLULU, HI (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,253 | 5.88% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,559 | 7.13% |
| Atchison, KS (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $0 | 5.21% |
| LINCOLN, NE (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,970 | 6.25% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 2.99% |
| Helena, MT (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,299 | 7.13% |
| AMES, IA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,464 | 6.50% |
| Sunbury, PA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,232 | 6.88% |
| Great Bend, KS (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,943 | 6.50% |
| McPherson, KS (FHA|USDA|VA) | 2 | $70,000 | $35,000 | $0 | 5.37% |
| Fort Leonard Wood, MO (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 8.60% |
| Pontiac, IL (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 8.81% |
| Montrose, CO (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 10.19% |
| Liberal, KS (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 8.41% |
| Salina, KS (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 9.23% |
| Marshall, MO (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 9.75% |
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Product Mix
For 2023, Commerce Bank's most frequently originated type of loan was Conventional, with 2,306 originations. Their 2nd most popular type was HELOC, with 1,999 originations.
Loan Reason
For 2023, Commerce Bank's most frequently cited loan purpose was Home Purchase, with 1,191 originations. The 2nd most popular reason was Home Improvement, with 1,156 originations.
Loan Duration/Length
For 2023, Commerce Bank's most frequently cited loan duration was 10 Year, with 2,227 originations. The 2nd most popular length was 30 Year, with 1,125 originations.
Origination Fees/Closing Costs
Commerce Bank's average total fees were $3,632, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,852 originations.
Interest Rates
During 2023, Commerce Bank's average interest rate for loans was 6.47%, while their most frequently originated rate bucket for loans was 2.5-3%, with 1,395 originations.
Loan Sizing
2023 saw Commerce Bank place emphasis on $100,000 or less loans with 2,273 originations, totaling $107,155,000 in origination value.
Applicant Income
Commerce Bank lent most frequently to those with incomes in the $100k-150k range, with 909 originations. The second most popular income band? $150k-250k, with 857 originations.
Applicant Debt to Income Ratio
Commerce Bank lent most frequently to those with DTI ratios of 20-30%, with 999 originations. The next most common DTI ratio? 30-36%, with 780 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications70.80%
Commerce Bank has a below average approval rate.
Pick Rate
Approvals leading to origination75.22%
Commerce Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 4,379 | $799,965,000 | $182,682 |