Corporate Investors Mortgage Group Rates, Fees & Info
Chapel Hill, NCLEI: 2549006SV57592TPRW11
Tax ID: 56-2007637
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Mortgage Data
Review & Overview
Corporate Investors Mortgage Group is a smaller mortgage company specializing in Home Purchase loans. Corporate Investors Mortgage Group 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: Durham, Raleigh, Morehead City, Burlington, and New Bern among others. We have data for 26 markets. (Some data included below & more in-depth data is available with an active subscription.)Corporate Investors Mortgage Group 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. Corporate Investors Mortgage Group 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 relatively high 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.54% | 12/16/24 |
| 30 Year Conventional Refi | 6.56% | 12/16/24 |
| 30 Year FHA Purchase | 7.07% | 12/16/24 |
| 30 Year FHA Refi | 6.27% | 12/16/24 |
| 30 Year VA Purchase | 6.15% | 12/16/24 |
| 30 Year VA Refi | 6.40% | 12/16/24 |
| 30 Year USDA Purchase | 6.90% | 12/16/24 |
| 15 Year Conventional Purchase | 5.92% | 12/16/24 |
| 15 Year Conventional Refi | 6.06% | 12/16/24 |
| 15 Year Cash-out Refi | 6.06% | 12/16/24 |
| 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. | ||
Corporate Investors Mortgage Group Mortgage Calculator
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Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Corporate Investors Mortgage Group. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
717Origination Dollar Volume (All Markets)
$286,765,000Relative Rate
Corporate Investors Mortgage Group's average 30 year fixed mortgage rate was
6.64%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.16%.
Relative Fees (Closing Costs)
Corporate Investors Mortgage Group's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,833.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
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 |
|---|---|---|---|---|---|
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 373 | $156,185,000 | $418,727 | $6,720 | 6.56% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 174 | $74,090,000 | $425,805 | $7,184 | 6.58% |
| Morehead City, NC (FHA|USDA|VA) | 53 | $19,715,000 | $371,981 | $5,199 | 6.92% |
| BURLINGTON, NC (FHA|USDA|VA) | 29 | $8,465,000 | $291,897 | $6,841 | 6.59% |
| NEW BERN, NC (FHA|USDA|VA) | 14 | $4,580,000 | $327,143 | $8,848 | 6.63% |
| WILMINGTON, NC (FHA|USDA|VA) | 9 | $3,065,000 | $340,556 | $5,309 | 6.79% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 10 | $3,020,000 | $302,000 | $6,893 | 7.05% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 9 | $2,435,000 | $270,556 | $7,945 | 6.76% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 5 | $2,375,000 | $475,000 | $11,058 | 6.90% |
| Outside of Metro Areas | 3 | $1,635,000 | $545,000 | $9,535 | 6.88% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 2 | $1,600,000 | $800,000 | $16,476 | 6.81% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 6 | $1,460,000 | $243,333 | $6,373 | 6.54% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 6 | $1,430,000 | $238,333 | $4,855 | 6.31% |
| ASHEVILLE, NC (FHA|USDA|VA) | 4 | $1,180,000 | $295,000 | $6,008 | 6.94% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 5 | $1,025,000 | $205,000 | $6,080 | 6.50% |
| Sanford, NC (FHA|USDA|VA) | 3 | $915,000 | $305,000 | $5,613 | 7.13% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $7,103 | 7.31% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $8,728 | 7.13% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $7,326 | 6.88% |
| Washington, NC (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $5,103 | 7.13% |
| Marion, NC (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $6,827 | 7.00% |
| Boone, NC (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $6,234 | 6.75% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $12,641 | 7.63% |
| GREENVILLE, NC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,414 | 7.63% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,819 | 7.00% |
| Forest City, NC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,778 | 6.88% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against Corporate Investors Mortgage Group based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2023, Corporate Investors Mortgage Group's most frequently originated type of loan was Conventional, with 670 originations. Their 2nd most popular type was FHA, with 25 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 675 | $272,035,000 | $403,015 | $6,861 | 6.61% |
| Refi | 42 | $14,730,000 | $350,714 | $5,838 | 6.73% |
For 2023, Corporate Investors Mortgage Group's most frequently cited loan purpose was Home Purchase, with 675 originations. The 2nd most popular reason was Refi, with 42 originations.
Loan Duration/Length
For 2023, Corporate Investors Mortgage Group's most frequently cited loan duration was 30 Year, with 690 originations. The 2nd most popular length was 15 Year, with 26 originations.
Origination Fees/Closing Costs
Corporate Investors Mortgage Group's average total fees were $6,833, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 257 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 446 | $176,600,000 | $395,964 |
| 7-8% | 143 | $58,145,000 | $406,608 |
| 5-6% | 120 | $48,690,000 | $405,750 |
| Over 8% | 6 | $2,440,000 | $406,667 |
| 4-5% | 2 | $890,000 | $445,000 |
During 2023, Corporate Investors Mortgage Group's average interest rate for loans was 6.64%, while their most frequently originated rate bucket for loans was 6-7%, with 446 originations.
Loan Sizing
2023 saw Corporate Investors Mortgage Group place emphasis on $200k-400k loans with 330 originations, totaling $97,760,000 in origination value.
Applicant Income
Corporate Investors Mortgage Group lent most frequently to those with incomes in the $150k-250k range, with 191 originations. The second most popular income band? $100k-150k, with 167 originations.
Applicant Debt to Income Ratio
Corporate Investors Mortgage Group lent most frequently to those with DTI ratios of 20-30%, with 147 originations. The next most common DTI ratio? 30-36%, with 142 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.26%
Corporate Investors Mortgage Group has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination88.15%
Corporate Investors Mortgage Group has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 717 | $286,765,000 | $399,951 |