We compare mortgage interest rate and loan related closing costs at Community First National Bank with other lenders for mortgages with similar borrower characteristics:
Interest Rate: higher than average (+0.06%)
Loan Related Closing Costs: higher than average (+$381)
Assessment: this lender tends to be a expensive lender.
This scoreboard is based on data reported to FFIEC. In the data, Community First National Bank originated 761 mortgages, a national market share of 0.0%. It was most active in KS (0.3% market share), MO (0.1% market share), and NE (0.1% market share).
On average, Community First National Bank’s interest rates were higher than those of comparable mortgages at other lenders (+0.06%).1The comparable mortgages control for Community First National Bank’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages. Its average total loan related closing cost was $5251, which was higher than those of comparable mortgages at $4870, with a difference of +$381. Overall, we estimate that Community First National Bank tends to be an expensive lender, with a cost-adjusted-rate difference of +0.11% compared to comparable mortgages at other lenders.2Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate. Therefore, we recommend comparing your rate and fees with at least a few other lenders before signing with Community First National Bank.
Community First National Bank originated Conforming, FHA and VA mortgages for new home purchases. It also originated Conforming and VA mortgages for refinances. We breakdown its interest rate and total loan related closing cost on by each of the mortgage types it originated below:
Home Purchase Mortgages from Community First National Bank compared to other lenders
|Interest Rate Difference||+0.08%||+0.05%||+0.09%|
|Loan related Closing Cost Difference||+$656||+$599||+$501|
|Cost Adjusted Rate Difference||+0.14%||+0.11%||+0.14%|
Based on the table above, Community First National Bank is more expensive than other lenders for Conforming, FHA and VA purchase mortgages.
Mortgage Refinancing from Community First National Bank compared to other lenders
|Interest Rate Difference||+0.03%||-0.01%|
|Loan Related Closing Cost Difference||+$320||-$1129|
|Cost Adjusted Rate Difference||+0.08%||-0.08%|
Based on the table above, Community First National Bank is cheap for VA mortgage refinance. It is more expensive than other lenders for Conforming mortgage refinance.
Other information about Community First National Bank:
Regulator: Office of the Comptroller of the Currency (OCC)
Top holder: TTAC CORP.
Registered city and state: Manhattan, KS, 66502