Is Community Mortgage LLC An Expensive Mortgage Lender?

We compare mortgage interest rate and loan related closing costs at Community Mortgage LLC with other lenders for mortgages with similar borrower characteristics:

Interest Rate: similar to average (-0.03%)
Loan Related Closing Costs: similar to average (+$3)
Assessment: this lender tends to be a average cost lender.

This scoreboard is based on data reported to FFIEC. In the data, Community Mortgage LLC originated 1516 mortgages, a national market share of 0.0%. It was most active in MO (0.9% market share), KS (0.6% market share), and TN (0.1% market share).

On average, Community Mortgage LLC’s interest rates were similar to those of comparable mortgages at other lenders (-0.03%).1The comparable mortgages control for Community Mortgage LLC’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 $3694, which was similar to those of comparable mortgages at $3691, with a difference of +$3. Overall, we estimate that Community Mortgage LLC tends to be an average cost lender, with a cost-adjusted-rate difference of -0.03% 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. Nevertheless, we recommend comparing your rate and fees with at least a few other lenders before signing with Community Mortgage LLC.

Community Mortgage LLC originated Conforming, FHA, USDA and VA mortgages for new home purchases. It also originated Conforming and FHA 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 Mortgage LLC compared to other lenders

Conforming FHA USDA VA
Interest Rate Difference -0.02% -0.03% -0.04% +0.02%
Loan related Closing Cost Difference +$125 +$170 +$103 -$238
Cost Adjusted Rate Difference -0.01% -0.01% -0.03% -0.02%

Based on the table above, Community Mortgage LLC is similar to other lenders for Conforming, FHA, USDA and VA purchase mortgages.

Mortgage Refinancing from Community Mortgage LLC compared to other lenders

Conforming FHA
Interest Rate Difference -0.02% -0.13%
Loan Related Closing Cost Difference -$571 -$648
Cost Adjusted Rate Difference -0.08% -0.20%

Based on the table above, Community Mortgage LLC is cheap for Conforming and FHA mortgage refinance.

Other information about Community Mortgage LLC:

Regulator: United States Department of Housing and Urban Development (HUD) 
Registered city and state: Independence, MO, 64055

Footnotes   [ + ]

1. The comparable mortgages control for Community Mortgage LLC’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.
2. Cost 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.

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