Community Bank NA Mortgage Interest Rate and Cost Review

Is Community Bank NA a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Community Bank NA to those of other lenders for a comparable set of borrowers. Here is our review of Community Bank NA nationally:

Review ItemCommunity Bank NA
Interest Ratehigher than other lenders (+0.28%)
Loan Related Closing Costslower than other lenders (-$604)
National Rate and Closing Cost Star Rating(2.5)

On average, Community Bank NA’s interest rates were higher than those of other lenders (+0.28%). On the other hand, its loan related closing costs were lower than those of other lenders, with a difference of -$604. Overall, combining interest rates and closing costs we estimate that Community Bank NA tends to be an expensive lender, and give it a National Rate and Closing Costs Rating of 2.5 out of 5 stars.

We maintain our independence by not accepting any money from the mortgage lenders we review. To visit Community Bank NA, check out its website at:

Community Bank NA’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 Community Bank NA was most active in:

  1. Plattsburgh, NY
  2. Utica, NY
  3. Buffalo, NY
  4. Scranton, PA
  5. Syracuse, NY

Community Bank NA’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, Community Bank NA originated Conforming, Jumbo and USDA 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 MortgagesConformingJumboUSDA
Interest Rate Difference+0.35%+0.02%-0.00%
Loan Related Closing Cost Difference-$622-$20-$30
Cost Adjusted Rate Difference+0.24%+0.02%-0.01%
National Star Rating(2.5)(3.5)(3.5)
Refinance MortgagesConformingJumbo
Interest Rate Difference+0.17%+0.01%
Loan Related Closing Cost Difference-$589+$21
Cost Adjusted Rate Difference+0.05%+0.01%
Average Star Rating(3)(3.5)

As a summary, Community Bank NA is similar to other lenders for Jumbo and USDA purchase mortgages. It is more expensive than other lenders for Conforming purchase mortgages. For refinancing mortgages, Community Bank NA 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 Community Bank NA:

Registered name: Community Bank
Registered city and state: Canton, NY, 13617
Regulator: Office of the Comptroller of the Currency (OCC)

* 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 Community Bank NA’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.