Cortrust Mortgage Rates, Fees & Info
SIOUX FALLS, SDLEI: 213800M6RMI3YBX62W88
Tax ID: 46-0429381
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Cortrust Mortgage is a smaller mortgage company specializing in Home Purchase loans. Cortrust Mortgage has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Sioux Falls, Minneapolis, Hutchinson, Mitchell, and Aberdeen among others. We have data for 34 markets. (Some data included below & more in-depth data is available with an active subscription.)Cortrust Mortgage has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Cortrust Mortgage is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.53% | 4/28/24 |
| 30 Year Conventional Refi | 6.43% | 4/28/24 |
| 30 Year Cash-out Refi | 6.60% | 4/28/24 |
| 30 Year FHA Purchase | 6.97% | 4/28/24 |
| 30 Year FHA Refi | 6.27% | 4/28/24 |
| 30 Year VA Purchase | 6.04% | 4/28/24 |
| 30 Year USDA Purchase | 6.78% | 4/28/24 |
| 15 Year Conventional Purchase | 5.81% | 4/28/24 |
| 15 Year Conventional Refi | 6.00% | 4/28/24 |
| 15 Year Cash-out Refi | 6.00% | 4/28/24 |
| 15 Year USDA Purchase | 5.68% | 4/28/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Cortrust Mortgage Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Cortrust Mortgage. It uses our SimulatedRate™
technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.
The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
518Origination Dollar Volume (All Markets)
$131,540,000Awards
CORTRUST MORTGAGE - 2022
CORTRUST MORTGAGE is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
Work for CORTRUST MORTGAGE?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| SIOUX FALLS, SD (FHA|USDA|VA) | 136 | $35,300,000 | $259,559 | $4,981 | 4.66% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 89 | $27,755,000 | $311,854 | $6,747 | 4.47% |
| Hutchinson, MN (FHA|USDA|VA) | 53 | $11,995,000 | $226,321 | $6,051 | 4.69% |
| Mitchell, SD (FHA|USDA|VA) | 48 | $11,450,000 | $238,542 | $4,587 | 4.71% |
| Aberdeen, SD (FHA|USDA|VA) | 50 | $10,710,000 | $214,200 | $6,065 | 5.00% |
| Outside of Metro Areas | 58 | $10,710,000 | $184,655 | $5,161 | 4.53% |
| Yankton, SD (FHA|USDA|VA) | 23 | $5,185,000 | $225,435 | $4,506 | 5.32% |
| Vermillion, SD (FHA|USDA|VA) | 7 | $2,005,000 | $286,429 | $5,175 | 5.23% |
| ST. CLOUD, MN (FHA|USDA|VA) | 8 | $1,930,000 | $241,250 | $5,992 | 5.56% |
| Brainerd, MN (FHA|USDA|VA) | 3 | $1,685,000 | $561,667 | $11,756 | 4.04% |
| Spirit Lake, IA (FHA|USDA|VA) | 3 | $1,255,000 | $418,333 | $7,408 | 5.04% |
| ROCHESTER, MN (FHA|USDA|VA) | 3 | $1,135,000 | $378,333 | $8,470 | 6.25% |
| RAPID CITY, SD (FHA|USDA|VA) | 3 | $1,065,000 | $355,000 | $6,522 | 4.96% |
| Watertown, SD (FHA|USDA|VA) | 5 | $1,035,000 | $207,000 | $4,530 | 4.53% |
| Pierre, SD (FHA|USDA|VA) | 3 | $975,000 | $325,000 | $4,923 | 4.83% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 2 | $780,000 | $390,000 | $6,049 | 4.56% |
| DULUTH, MN-WI (FHA|USDA|VA) | 2 | $660,000 | $330,000 | $8,182 | 5.75% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 3 | $655,000 | $218,333 | $4,987 | 3.58% |
| Faribault-Northfield, MN (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $14,114 | 2.88% |
| SIOUX CITY, IA-NE-SD (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $5,428 | 4.81% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $3,987 | 4.88% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $7,356 | 4.38% |
| FARGO, ND-MN (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $4,431 | 3.75% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $8,475 | 3.63% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $8,250 | 5.38% |
| PEORIA, IL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $5,865 | 5.00% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $6,538 | 5.25% |
| Red Wing, MN (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $4,883 | 6.00% |
| IOWA CITY, IA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $5,013 | 5.88% |
| Huron, SD (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $8,645 | 4.50% |
| CEDAR RAPIDS, IA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,452 | 4.00% |
| Willmar, MN (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $3,311 | 4.94% |
| Brookings, SD (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,596 | 4.88% |
| Spearfish, SD (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,840 | 7.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against CORTRUST MORTGAGE based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 288
Similarity Rank: 304
Similarity Rank: 364
Similarity Rank: 378
Similarity Rank: 429
Similarity Rank: 464
Similarity Rank: 684
Similarity Rank: 810
Similarity Rank: 884
Similarity Rank: 1300
Product Mix
For 2022, Cortrust Mortgage's most frequently originated type of loan was Conventional, with 471 originations. Their 2nd most popular type was FHA, with 23 originations.
Loan Reason
For 2022, Cortrust Mortgage's most frequently cited loan purpose was Home Purchase, with 363 originations. The 2nd most popular reason was Cash Out Refi, with 90 originations.
Loan Duration/Length
For 2022, Cortrust Mortgage's most frequently cited loan duration was 30 Year, with 442 originations. The 2nd most popular length was 15 Year, with 53 originations.
Origination Fees/Closing Costs
Cortrust Mortgage's average total fees were $5,811, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 154 originations.
Interest Rates
During 2022, Cortrust Mortgage's average interest rate for loans was 4.88%, while their most frequently originated rate bucket for loans was 5-6%, with 152 originations.
Loan Sizing
2022 saw Cortrust Mortgage place emphasis on $200k-400k loans with 233 originations, totaling $66,245,000 in origination value.
Applicant Income
Cortrust Mortgage lent most frequently to those with incomes in the $100k-150k range, with 121 originations. The second most popular income band? $50k-75k, with 103 originations.
Applicant Debt to Income Ratio
Cortrust Mortgage lent most frequently to those with DTI ratios of 20-30%, with 119 originations. The next most common DTI ratio? 30-36%, with 97 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.88%
Cortrust Mortgage has an average approval rate.
Pick Rate
Approvals leading to origination72.39%
Cortrust Mortgage has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 518 | $131,540,000 | $253,938 |