Is International Bank of Commerce a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by International Bank of Commerce to those of other lenders for a comparable set of borrowers. Here is our review of International Bank of Commerce nationally:
|Review Item||International Bank of Commerce|
|Interest Rate||higher than other lenders (+0.32%)|
|Loan Related Closing Costs||lower than other lenders (-$296)|
|National Rate and Closing Cost Star Rating||(2.5)|
On average, International Bank of Commerce’s interest rates were higher than those of other lenders (+0.32%). On the other hand, its loan related closing costs were lower than those of other lenders, with a difference of -$296. We maintain our independence by not accepting any money from the mortgage lenders we review. To visit International Bank of Commerce, check out its website at: https://www.ibc.com.
International Bank of Commerce’s Rate Review by City
Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders by city, click here. In particular, among the cities we track International Bank of Commerce was most active in:
In addition, International Bank of Commerce is our top ranked/best mortgage lender in terms of interest rate and closing costs in:
- Laredo, TX, for Jumbo mortgages
International Bank of Commerce’s Rate Review by Mortgage Type
Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, International Bank of Commerce originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases. It also originated Conforming and Jumbo mortgages for refinances. Its average interest rate and total loan related closing cost difference relative to other lenders for comparable borrowers by mortgages type is as follows.
|New Purchase Mortgages||Conforming||FHA||Jumbo||USDA||VA|
|Interest Rate Difference||+0.45%||-0.04%||+0.01%||-0.01%||-0.01%|
|Loan Related Closing Cost Difference||-$367||-$30||+$2||-$4||+$5|
|Cost Adjusted Rate Difference||+0.35%||-0.04%||+0.01%||-0.01%||-0.01%|
|National Star Rating|
|Interest Rate Difference||+0.23%||+0.00%|
|Loan Related Closing Cost Difference||-$282||+$0|
|Cost Adjusted Rate Difference||+0.15%||+0.00%|
|Average Star Rating|
As a summary, International Bank of Commerce is similar to other lenders for FHA, Jumbo, USDA and VA purchase mortgages. It is more expensive than other lenders for Conforming purchase mortgages. For refinancing mortgages, International Bank of Commerce is similar to other lenders for Jumbo mortgage refinance. It is more expensive than other lenders for Conforming mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.
Other information about International Bank of Commerce:
Registered city and state: Laredo, TX, 78040
Regulator: Federal Deposit Insurance Corporation (FDIC)
Top holder: INTERNATIONAL BANCSHARES CORPORATION
* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for International Bank of Commerce’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 commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.