Coreplus Federal Credit Union Mortgage Rates, Fees & Info

Norwich, CT

LEI: 254900J5OSYRB4AN2309

Tax ID: 06-0655058

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Coreplus Federal Credit Union is a smaller credit union specializing in Cash Out Refi, Refi, and Home Purchase loans. Coreplus Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Norwich, Worcester, New Haven, Lebanon, and Hartford among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Coreplus Federal Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Coreplus Federal Credit Union is typically a low 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    15 Year Conventional Purchase 5.68% 4/28/24
    15 Year Conventional Refi 5.68% 4/28/24
    15 Year Cash-out Refi 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.

    Coreplus Federal Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Coreplus Federal Credit Union. 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

    127

    Origination Dollar Volume (All Markets)

    $15,055,000

    Awards

    CorePlus Federal Credit Union 30 Year Conventional Loans bronze CorePlus Federal Credit Union 30 Year Conventional Loans bronze
    Show all (2) awards

    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
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 103 $12,015,000 $116,650 $2,379 4.21%
    WORCESTER, MA-CT (FHA|USDA|VA) 15 $1,595,000 $106,333 $2,029 4.22%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 2 $400,000 $200,000 $5,451 4.38%
    Lebanon, NH-VT (FHA|USDA|VA) 2 $380,000 $190,000 $5,212 3.56%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 3 $335,000 $111,667 $4,742 5.00%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $175,000 $175,000 $3,278 3.13%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $155,000 $155,000 $4,220 4.25%
    Coreplus Federal Credit Union's top markets include Norwich, Worcester, New Haven, Lebanon, and Hartford among others.

    Their top states include:
  • Connecticut (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against CorePlus Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Northern Bank & Trust Company
    Similarity Rank: 64
    Chelsea Groton Bank
    Similarity Rank: 70
    SOUTHBRIDGE CREDIT UNION
    Similarity Rank: 80
    Bristol County Savings Bank
    Similarity Rank: 96
    Middlesex Savings Bank
    Similarity Rank: 145
    CorePlus Federal Credit Union
    Similarity Rank: 154
    Cambridge Savings Bank
    Similarity Rank: 160
    LEOMINSTER CREDIT UNION
    Similarity Rank: 180
    Milford Federal Bank
    Similarity Rank: 252
    WEBSTER FIRST Federal Credit Union
    Similarity Rank: 253

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 127 $15,055,000 $118,543 $2,535 4.21%

    For 2019, Coreplus Federal Credit Union's most frequently originated type of loan was Conventional, with 127 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 32 $3,050,000 $95,313 $2,156 4.35%
    Refi 31 $4,385,000 $141,452 $2,015 4.09%
    Home Purchase 30 $5,710,000 $190,333 $3,745 4.09%
    Home Improvement 25 $1,405,000 $56,200 $985 4.00%
    Other 8 $440,000 $55,000 $1,902 4.92%
    NA 1 $65,000 $65,000 $0 6.75%

    For 2019, Coreplus Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 32 originations. The 2nd most popular reason was Refi, with 31 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 43 $7,825,000 $181,977 $3,667 4.00%
    Other 26 $1,790,000 $68,846 $450 3.86%
    15 Year 17 $2,435,000 $143,235 $2,307 4.33%
    10 Year 16 $930,000 $58,125 $450 4.95%
    5 Year 15 $515,000 $34,333 $300 4.08%
    20 Year 10 $1,560,000 $156,000 $2,854 4.82%

    For 2019, Coreplus Federal Credit Union's most frequently cited loan duration was 30 Year, with 43 originations. The 2nd most popular length was Other, with 26 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 59 $7,925,000 $134,322
    $1k-2k 13 $2,425,000 $186,538
    $2k-3k 8 $1,300,000 $162,500
    $3k-4k 3 $465,000 $155,000
    $4k-5k 2 $630,000 $315,000

    Coreplus Federal Credit Union's average total fees were $3,667, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 59 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 67 $8,685,000 $129,627
    4-5% 40 $5,110,000 $127,750
    5-6% 13 $815,000 $62,692
    6-7% 4 $220,000 $55,000
    2.5-3% 2 $150,000 $75,000

    During 2019, Coreplus Federal Credit Union's average interest rate for loans was 4.00%, while their most frequently originated rate bucket for loans was 3-4%, with 67 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 62 $3,130,000 $50,484 $1,022 4.42%
    $100k-200k 46 $6,850,000 $148,913 $2,898 4.00%
    $200k-400k 18 $4,620,000 $256,667 $3,856 4.08%
    $400k-600k 1 $455,000 $455,000 $3,006 3.75%

    2019 saw Coreplus Federal Credit Union place emphasis on $100,000 or less loans with 62 originations, totaling $3,130,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 35 $3,775,000 $107,857 $2,073 4.58%
    $50k-75k 35 $4,415,000 $126,143 $2,687 3.87%
    $150k-250k 20 $2,720,000 $136,000 $2,861 4.31%
    $75k-100k 18 $2,060,000 $114,444 $2,377 4.12%
    $50k or less 16 $1,560,000 $97,500 $2,559 4.06%
    $250k+ 2 $500,000 $250,000 $3,006 4.63%

    Coreplus Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 35 originations. The second most popular income band? $50k-75k, with 35 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 49 $5,105,000 $104,184 $2,402 4.37%
    30-36% 21 $2,275,000 $108,333 $2,550 4.43%
    <20% 12 $1,570,000 $130,833 $1,683 3.70%
    42% 7 $845,000 $120,714 $2,581 3.84%
    41% 7 $915,000 $130,714 $2,680 4.50%
    36% 5 $795,000 $159,000 $2,480 4.06%
    44% 5 $695,000 $139,000 $3,305 3.78%
    39% 5 $585,000 $117,000 $3,190 4.07%
    43% 3 $635,000 $211,667 $5,718 4.13%
    37% 3 $505,000 $168,333 $1,862 3.46%
    38% 3 $265,000 $88,333 $4,436 4.58%
    40% 2 $100,000 $50,000 $450 4.37%
    45% 2 $320,000 $160,000 $2,130 4.38%
    48% 1 $145,000 $145,000 $2,462 3.75%
    >60% 1 $225,000 $225,000 $2,594 3.63%

    Coreplus Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 49 originations. The next most common DTI ratio? 30-36%, with 21 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 117 $13,915,000 $118,932 $2,513 4.23%
    Asian 5 $495,000 $99,000 $2,180 3.83%
    Black 4 $460,000 $115,000 $3,373 4.16%
    Not provided 1 $185,000 $185,000 $3,069 3.75%

    Approval Rates

    Total approvals of all applications
    74.35%

    Coreplus Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    68.50%

    Coreplus Federal Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 127 $15,055,000 $118,543

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 127 $15,055,000 $118,543

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 23 $1,675,000 $72,826 $730 4.36%
    40-60% 12 $1,740,000 $145,000 $1,442 3.83%
    60-80% 23 $3,515,000 $152,826 $2,779 3.92%
    80-100% 35 $6,885,000 $196,714 $3,797 4.06%
    Under 20% 34 $1,240,000 $36,471 $375 4.59%