We compare mortgage interest rate and loan related closing costs at Community Bank of Parkersburg with other lenders for mortgages with similar borrower characteristics:
Interest Rate: similar to average (+0.01%)
Loan Related Closing Costs: lower than average (-$1029)
Assessment: this lender tends to be a cheap lender.
This scoreboard is based on data reported to FFIEC. In the data, Community Bank of Parkersburg originated 195 mortgages, a national market share of 0.0%. It was most active in WV (0.7% market share), OH (0.0% market share), and MD (0.0% market share).
On average, Community Bank of Parkersburg’s interest rates were similar to those of comparable mortgages at other lenders (+0.01%).1The comparable mortgages control for Community Bank of Parkersburg’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 $1466, which was lower than those of comparable mortgages at $2495, with a difference of -$1029. Overall, we estimate that Community Bank of Parkersburg tends to be an cheap lender, with a cost-adjusted-rate difference of -0.13% 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 Bank of Parkersburg.
Community Bank of Parkersburg originated Conforming mortgages for new home purchases. It also originated Conforming 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 Bank of Parkersburg compared to other lenders
|Interest Rate Difference||+0.09%|
|Loan related Closing Cost Difference||-$1210|
|Cost Adjusted Rate Difference||-0.06%|
Based on the table above, Community Bank of Parkersburg is cheap for Conforming purchase mortgages.
Mortgage Refinancing from Community Bank of Parkersburg compared to other lenders
|Interest Rate Difference||-0.11%|
|Loan Related Closing Cost Difference||-$771|
|Cost Adjusted Rate Difference||-0.23%|
Based on the table above, Community Bank of Parkersburg is cheap for Conforming mortgage refinance.
Other information about Community Bank of Parkersburg:
Regulator: Federal Deposit Insurance Corporation (FDIC)
Top holder: COMMUNITY BANKSHARES, INC.
Registered city and state: Parkersburg, WV, 26101