Cibc Bank Usa Mortgage Rates, Fees & Info

Chicago, IL

LEI: FDXQ75GPEQKRPWABYN63

Tax ID: 36-3722148

5 stars - Updated: 4/14/24 - out of 5 stars, based on 21 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Cibc Bank Usa is a smaller bank specializing in Home Purchase loans. Cibc Bank Usa 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: Chicago, Tallahassee, Miami, Los Angeles, and New York among others. We have data for 63 markets. (Some data included below & more in-depth data is available with an active subscription.)

Cibc Bank Usa 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. Cibc Bank Usa 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.

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 6.45% 4/14/24
30 Year Conventional Refi 6.18% 4/14/24
30 Year Cash-out Refi 6.11% 4/14/24
30 Year FHA Purchase 7.35% 4/14/24
30 Year FHA Refi 8.18% 4/14/24
30 Year VA Purchase 6.01% 4/14/24
15 Year Conventional Purchase 6.22% 4/14/24
15 Year Conventional Refi 5.89% 4/14/24
15 Year Cash-out Refi 5.89% 4/14/24
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.

Cibc Bank Usa Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Cibc Bank Usa. 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

458

Origination Dollar Volume (All Markets)

$447,690,000
Show all (6) awards

Relative Rate

Cibc Bank Usa's average 30 year fixed mortgage rate was 6.17%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.31%.

Relative Fees (Closing Costs)

Cibc Bank Usa's average total fees/closing costs for a 30 year fixed rate mortgage were $7,364.

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
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 254 $152,350,000 $599,803 $7,627 6.43%
TALLAHASSEE, FL (FHA|USDA|VA) 4 $45,890,000 $11,472,500 $4,449 7.40%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 12 $30,300,000 $2,525,000 $13,542 5.41%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 9 $25,375,000 $2,819,444 $8,192 5.64%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 8 $22,920,000 $2,865,000 $8,449 5.45%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $18,605,000 $18,605,000 $0 7.18%
Outside of Metro Areas 8 $16,520,000 $2,065,000 $9,025 6.10%
ST. LOUIS, MO-IL (FHA|USDA|VA) 21 $12,105,000 $576,429 $6,173 6.33%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 7 $9,605,000 $1,372,143 $7,768 5.70%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $7,755,000 $7,755,000 $28,865 4.63%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 5 $7,185,000 $1,437,000 $9,521 5.78%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 3 $6,505,000 $2,168,333 $11,406 5.75%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 6 $6,080,000 $1,013,333 $6,602 6.08%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 4 $5,260,000 $1,315,000 $6,363 5.47%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 15 $4,665,000 $311,000 $4,495 6.50%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 6 $4,640,000 $773,333 $5,004 5.94%
Bozeman, MT (FHA|USDA|VA) 1 $4,005,000 $4,005,000 $8,886 5.75%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 1 $4,005,000 $4,005,000 $13,951 5.63%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 4 $3,710,000 $927,500 $6,691 5.44%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 2 $3,480,000 $1,740,000 $4,165 5.19%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 6 $3,160,000 $526,667 $5,879 6.02%
Whitewater, WI (FHA|USDA|VA) 8 $3,110,000 $388,750 $4,608 6.45%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 3 $3,065,000 $1,021,667 $9,484 6.12%
COLUMBUS, OH (FHA|USDA|VA) 1 $2,945,000 $2,945,000 $27,885 5.38%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 3 $2,825,000 $941,667 $7,736 5.83%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 2 $2,660,000 $1,330,000 $6,363 4.75%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 4 $2,470,000 $617,500 $6,408 5.84%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 3 $2,435,000 $811,667 $7,052 6.21%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 1 $2,005,000 $2,005,000 $6,007 5.13%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 4 $1,970,000 $492,500 $5,304 5.78%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 2 $1,940,000 $970,000 $5,674 5.38%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 13 $1,785,000 $137,308 $4,639 6.59%
Easton, MD (FHA|USDA|VA) 1 $1,685,000 $1,685,000 $7,138 5.25%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $1,665,000 $1,665,000 $9,937 5.88%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 2 $1,510,000 $755,000 $5,211 5.63%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $1,445,000 $1,445,000 $9,237 4.88%
NAPA, CA (FHA|USDA|VA) 1 $1,445,000 $1,445,000 $4,170 5.63%
Key West, FL (FHA|USDA|VA) 1 $1,435,000 $1,435,000 $9,875 6.75%
RICHMOND, VA (FHA|USDA|VA) 1 $1,235,000 $1,235,000 $6,433 4.63%
GRANTS PASS, OR (FHA|USDA|VA) 1 $1,205,000 $1,205,000 $8,432 5.50%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 1 $1,025,000 $1,025,000 $4,534 6.50%
Heber, UT (FHA|USDA|VA) 1 $1,005,000 $1,005,000 $4,827 6.38%
ANN ARBOR, MI (FHA|USDA|VA) 2 $890,000 $445,000 $6,181 6.06%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $885,000 $885,000 $5,371 6.50%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1 $875,000 $875,000 $3,688 5.00%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $865,000 $865,000 $4,518 5.75%
Durango, CO (FHA|USDA|VA) 1 $835,000 $835,000 $3,295 5.88%
MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 1 $795,000 $795,000 $3,939 5.88%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $775,000 $775,000 $5,739 5.63%
MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 1 $755,000 $755,000 $4,923 5.38%
LOUISVILLE, KY (FHA|USDA|VA) 1 $725,000 $725,000 $5,485 6.38%
SAVANNAH, GA (FHA|USDA|VA) 1 $705,000 $705,000 $5,951 5.38%
KANKAKEE, IL (FHA|USDA|VA) 3 $665,000 $221,667 $3,223 6.83%
Boone, NC (FHA|USDA|VA) 1 $655,000 $655,000 $3,483 5.13%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $625,000 $625,000 $4,311 5.63%
WILMINGTON, NC (FHA|USDA|VA) 1 $505,000 $505,000 $4,043 5.63%
ASHEVILLE, NC (FHA|USDA|VA) 1 $405,000 $405,000 $4,001 6.38%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $405,000 $405,000 $5,442 6.25%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $375,000 $375,000 $3,497 5.38%
Hilo, HI (FHA|USDA|VA) 1 $305,000 $305,000 $4,721 5.75%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $265,000 $265,000 $3,952 6.50%
DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $215,000 $215,000 $3,666 6.50%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 2 $180,000 $90,000 $3,375 5.63%
Cibc Bank Usa's top markets include Chicago, Tallahassee, Miami, Los Angeles, and New York among others.

Their top states include:
  • Illinois (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against CIBC Bank USA based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Michigan Legacy Credit Union
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 382 $429,690,000 $1,124,843 $6,689 6.22%
    FHA 71 $16,385,000 $230,775 $10,401 6.28%
    VA 5 $1,615,000 $323,000 $8,236 6.53%

    For 2023, Cibc Bank Usa's most frequently originated type of loan was Conventional, with 382 originations. Their 2nd most popular type was FHA, with 71 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 393 $280,345,000 $713,346 $7,468 6.26%
    Other 34 $52,040,000 $1,530,588 $6,597 5.69%
    Cash Out Refi 13 $29,215,000 $2,247,308 $7,164 5.86%
    Refi 12 $77,520,000 $6,460,000 $3,513 6.73%
    Home Improvement 6 $8,570,000 $1,428,333 $2,788 7.53%

    For 2023, Cibc Bank Usa's most frequently cited loan purpose was Home Purchase, with 393 originations. The 2nd most popular reason was Other, with 34 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 436 $300,870,000 $690,069 $7,364 6.17%
    Other 9 $88,085,000 $9,787,222 $0 7.72%
    5 Year 7 $40,335,000 $5,762,143 $0 7.47%
    15 Year 2 $340,000 $170,000 $5,523 6.19%
    10 Year 2 $50,000 $25,000 $0 7.19%
    1 Year 1 $4,005,000 $4,005,000 $0 7.25%
    3 Year 1 $14,005,000 $14,005,000 $0 6.77%

    For 2023, Cibc Bank Usa's most frequently cited loan duration was 30 Year, with 436 originations. The 2nd most popular length was Other, with 9 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 319 $259,995,000 $815,031
    $2k-3k 62 $22,030,000 $355,323
    $3k-4k 19 $4,965,000 $261,316
    $5k+ 14 $8,120,000 $580,000
    $4k-5k 13 $3,825,000 $294,231
    $<1k 2 $50,000 $25,000

    Cibc Bank Usa's average total fees were $7,364, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 319 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 205 $89,885,000 $438,463
    5-6% 158 $159,590,000 $1,010,063
    7-8% 60 $117,810,000 $1,963,500
    4-5% 28 $62,000,000 $2,214,286
    Over 8% 6 $18,310,000 $3,051,667
    3-4% 1 $95,000 $95,000

    During 2023, Cibc Bank Usa's average interest rate for loans was 6.17%, while their most frequently originated rate bucket for loans was 6-7%, with 205 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 151 $41,425,000 $274,338 $7,796 6.54%
    $1MM+ 98 $329,570,000 $3,362,959 $9,601 5.77%
    $100k-200k 94 $14,800,000 $157,447 $6,336 6.53%
    $400k-600k 53 $25,475,000 $480,660 $6,376 6.24%
    $600k-1MM 46 $35,300,000 $767,391 $5,603 5.59%
    $100,000 or less 16 $1,120,000 $70,000 $3,938 6.26%

    2023 saw Cibc Bank Usa place emphasis on $200k-400k loans with 151 originations, totaling $41,425,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 134 $217,120,000 $1,620,299 $8,003 5.62%
    $50k-75k 80 $16,340,000 $204,250 $7,602 6.51%
    $75k-100k 68 $17,050,000 $250,735 $7,466 6.50%
    $150k-250k 50 $21,840,000 $436,800 $5,861 6.29%
    $100k-150k 44 $13,400,000 $304,545 $7,732 6.41%
    $50k or less 39 $5,225,000 $133,974 $6,104 6.36%

    Cibc Bank Usa lent most frequently to those with incomes in the $250k+ range, with 134 originations. The second most popular income band? $50k-75k, with 80 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 77 $49,875,000 $647,727 $6,369 6.15%
    20-30% 62 $67,280,000 $1,085,161 $7,097 5.94%
    42% 30 $24,970,000 $832,333 $7,235 5.84%
    <20% 29 $51,845,000 $1,787,759 $8,454 5.63%
    40% 28 $15,880,000 $567,143 $6,782 6.25%
    44% 28 $7,690,000 $274,643 $8,013 6.58%
    39% 24 $17,170,000 $715,417 $7,653 6.21%
    50-60% 23 $5,915,000 $257,174 $11,475 6.61%
    41% 22 $11,340,000 $515,455 $6,697 6.06%
    37% 21 $17,675,000 $841,667 $8,066 6.38%
    38% 19 $8,815,000 $463,947 $6,596 6.42%
    43% 15 $4,855,000 $323,667 $7,629 6.33%
    48% 14 $5,470,000 $390,714 $6,107 6.41%
    36% 13 $8,395,000 $645,769 $6,472 6.09%
    47% 13 $4,295,000 $330,385 $7,189 6.11%
    49% 13 $4,225,000 $325,000 $5,890 6.82%
    45% 7 $2,695,000 $385,000 $6,315 6.07%
    46% 4 $920,000 $230,000 $10,913 6.53%

    Cibc Bank Usa lent most frequently to those with DTI ratios of 30-36%, with 77 originations. The next most common DTI ratio? 20-30%, with 62 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 301 $226,555,000 $752,674 $7,359 6.12%
    Not applicable 16 $138,380,000 $8,648,750 $0 7.75%
    Not provided 38 $42,590,000 $1,120,789 $7,151 6.12%
    Black 72 $25,150,000 $349,306 $7,864 6.39%
    Asian 28 $13,860,000 $495,000 $5,585 6.27%
    Asian Indian 2 $1,000,000 $500,000 $5,274 6.44%
    American Indian 1 $155,000 $155,000 $6,913 6.50%

    Approval Rates

    Total approvals of all applications
    89.31%

    Cibc Bank Usa has an average approval rate.

    Pick Rate

    Approvals leading to origination
    71.40%

    Cibc Bank Usa has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 458 $447,690,000 $977,489

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    458 $447,690,000 $977,489

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 22 $20,150,000 $915,909 $5,399 6.03%
    40-60% 37 $93,695,000 $2,532,297 $6,351 6.06%
    60-80% 148 $225,900,000 $1,526,351 $7,261 6.07%
    80-100% 243 $97,195,000 $399,979 $7,694 6.38%
    Under 20% 8 $10,750,000 $1,343,750 $5,805 6.13%