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 Refi, Cash Out 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, Hartford, Providence, and New Haven among others. We have data for 10 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.

    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
    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

    287

    Origination Dollar Volume (All Markets)

    $44,235,000

    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) 196 $29,920,000 $152,653 $2,939 3.03%
    WORCESTER, MA-CT (FHA|USDA|VA) 55 $7,755,000 $141,000 $3,014 3.31%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 21 $3,365,000 $160,238 $2,350 3.16%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 7 $1,045,000 $149,286 $2,825 3.19%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 3 $645,000 $215,000 $3,281 3.24%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $495,000 $495,000 $3,869 3.25%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $415,000 $415,000 $4,627 2.38%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $235,000 $235,000 $3,824 2.63%
    Outside of Metro Areas 1 $215,000 $215,000 $3,048 3.13%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $145,000 $145,000 $6,355 2.63%
    Coreplus Federal Credit Union's top markets include Norwich, Worcester, Hartford, Providence, and New Haven among others.

    Their top states include:
  • Connecticut (FHA|USDA|VA)
  • Rhode Island (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • District of Columbia (FHA|USDA|VA)
  • New Hampshire (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.

    Middlesex Savings Bank
    Similarity Rank: 174
    SCIENT Federal Credit Union
    Similarity Rank: 286
    Northern Bank & Trust Company
    Similarity Rank: 288
    Chelsea Groton Bank
    Similarity Rank: 308
    Bridgewater Savings Bank
    Similarity Rank: 329
    The Washington Trust Company, of Westerly
    Similarity Rank: 368
    AMERICAN EAGLE FINANCIAL CREDIT UNION
    Similarity Rank: 470
    Poli Mortgage Group, Inc.
    Similarity Rank: 592
    Cambridge Savings Bank
    Similarity Rank: 693
    Milford Federal Bank
    Similarity Rank: 732

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 287 $44,235,000 $154,129 $2,952 3.09%

    For 2021, Coreplus Federal Credit Union's most frequently originated type of loan was Conventional, with 287 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 131 $19,375,000 $147,901 $2,356 2.94%
    Cash Out Refi 78 $12,680,000 $162,564 $3,535 3.20%
    Home Purchase 44 $9,060,000 $205,909 $3,677 3.02%
    Home Improvement 34 $3,120,000 $91,765 $683 3.54%

    For 2021, Coreplus Federal Credit Union's most frequently cited loan purpose was Refi, with 131 originations. The 2nd most popular reason was Cash Out Refi, with 78 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 83 $14,045,000 $169,217 $2,786 2.92%
    30 Year 73 $15,665,000 $214,589 $3,716 3.13%
    20 Year 45 $7,555,000 $167,889 $2,968 3.28%
    Other 42 $4,420,000 $105,238 $350 2.83%
    10 Year 21 $1,725,000 $82,143 $983 3.40%
    5 Year 21 $765,000 $36,429 $338 3.55%
    3 Year 2 $60,000 $30,000 $0 2.60%

    For 2021, Coreplus Federal Credit Union's most frequently cited loan duration was 15 Year, with 83 originations. The 2nd most popular length was 30 Year, with 73 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 114 $20,240,000 $177,544
    $1k-2k 26 $4,460,000 $171,538
    $2k-3k 14 $2,630,000 $187,857
    $3k-4k 9 $2,075,000 $230,556
    $4k-5k 4 $940,000 $235,000
    $5k+ 3 $835,000 $278,333

    Coreplus Federal Credit Union's average total fees were $3,716, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 114 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 137 $20,035,000 $146,241
    3-4% 102 $18,860,000 $184,902
    <2.5% 30 $4,450,000 $148,333
    4-5% 8 $300,000 $37,500
    5-6% 5 $225,000 $45,000
    6-7% 2 $100,000 $50,000

    During 2021, Coreplus Federal Credit Union's average interest rate for loans was 3.13%, while their most frequently originated rate bucket for loans was 2.5-3%, with 137 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 137 $20,385,000 $148,796 $2,879 2.96%
    $100,000 or less 77 $4,305,000 $55,909 $1,237 3.34%
    $200k-400k 67 $16,795,000 $250,672 $3,640 3.10%
    $400k-600k 6 $2,750,000 $458,333 $4,404 2.90%

    2021 saw Coreplus Federal Credit Union place emphasis on $100k-200k loans with 137 originations, totaling $20,385,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 83 $12,755,000 $153,675 $3,402 3.07%
    $50k-75k 70 $10,050,000 $143,571 $3,085 3.10%
    $75k-100k 62 $9,220,000 $148,710 $2,564 3.10%
    $150k-250k 38 $6,850,000 $180,263 $2,957 3.21%
    $50k or less 26 $2,900,000 $111,538 $2,244 2.97%
    $250k+ 8 $2,460,000 $307,500 $3,749 3.02%

    Coreplus Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 83 originations. The second most popular income band? $50k-75k, with 70 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 85 $12,225,000 $143,824 $2,884 3.12%
    <20% 67 $9,875,000 $147,388 $2,721 2.98%
    30-36% 53 $8,135,000 $153,491 $3,095 3.21%
    36% 10 $2,110,000 $211,000 $4,717 3.28%
    39% 9 $1,835,000 $203,889 $2,206 2.90%
    43% 9 $865,000 $96,111 $2,041 2.82%
    44% 8 $1,190,000 $148,750 $1,430 3.55%
    41% 8 $1,470,000 $183,750 $3,359 2.71%
    37% 7 $1,055,000 $150,714 $2,511 3.70%
    38% 6 $860,000 $143,333 $2,697 2.70%
    45% 6 $1,300,000 $216,667 $4,260 3.48%
    42% 5 $865,000 $173,000 $3,181 2.80%
    40% 4 $690,000 $172,500 $3,069 2.91%
    46% 4 $830,000 $207,500 $2,814 2.90%
    47% 2 $410,000 $205,000 $3,236 3.25%
    48% 1 $125,000 $125,000 $0 2.60%
    49% 1 $145,000 $145,000 $2,981 2.75%
    50-60% 1 $145,000 $145,000 $3,971 2.88%
    >60% 1 $105,000 $105,000 $0 0.00%

    Coreplus Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 85 originations. The next most common DTI ratio? <20%, with 67 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 247 $38,955,000 $157,713 $2,952 3.04%
    Not provided 26 $3,180,000 $122,308 $1,744 3.46%
    Black 10 $1,520,000 $152,000 $3,963 3.36%
    Asian 3 $385,000 $128,333 $4,260 2.83%
    American Indian 1 $195,000 $195,000 $6,627 3.88%

    Approval Rates

    Total approvals of all applications
    84.25%

    Coreplus Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    69.34%

    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 287 $44,235,000 $154,129

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    287 $44,235,000 $154,129

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 34 $3,420,000 $100,588 $1,177 2.91%
    40-60% 71 $11,295,000 $159,085 $2,496 2.94%
    60-80% 99 $19,495,000 $196,919 $3,558 3.02%
    80-100% 41 $8,415,000 $205,244 $3,493 3.01%
    Under 20% 41 $1,545,000 $37,683 $270 3.69%