Coreplus Federal Credit Union Mortgage Rates, Fees & Info
Norwich, CTLEI: 254900J5OSYRB4AN2309
Tax ID: 06-0655058
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Mortgage Data
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. Coreplus Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Norwich, Worcester, Hartford, Providence, and Columbia among others. We have data for 5 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.
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 |
|---|---|---|
| 15 Year Conventional Purchase | 5.68% | 12/30/24 |
| 15 Year Conventional Refi | 5.68% | 12/30/24 |
| 15 Year Cash-out Refi | 5.68% | 12/30/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
179Origination Dollar Volume (All Markets)
$23,735,000Top 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) | 131 | $17,855,000 | $136,298 | $450 | 3.83% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 36 | $4,300,000 | $119,444 | $450 | 3.74% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 9 | $1,255,000 | $139,444 | $0 | 3.89% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 2 | $220,000 | $110,000 | $0 | 3.37% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
Their top states include:
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 130 | $13,040,000 | $100,308 | $450 | 3.81% |
| Conventional | 49 | $10,695,000 | $218,265 | $0 | 0.00% |
For 2022, Coreplus Federal Credit Union's most frequently originated type of loan was Conventional, with 130 originations. Their 2nd most popular type was Conventional, with 49 originations.
Loan Reason
For 2022, Coreplus Federal Credit Union's most frequently cited loan purpose was Refi, with 62 originations. The 2nd most popular reason was Cash Out Refi, with 49 originations.
Loan Duration/Length
For 2022, Coreplus Federal Credit Union's most frequently cited loan duration was Other, with 70 originations. The 2nd most popular length was 15 Year, with 43 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 3 | $425,000 | $141,667 |
Coreplus Federal Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 3 originations.
Interest Rates
During 2022, Coreplus Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 37 originations.
Loan Sizing
2022 saw Coreplus Federal Credit Union place emphasis on $100,000 or less loans with 77 originations, totaling $4,225,000 in origination value.
Applicant Income
Coreplus Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 56 originations. The second most popular income band? $150k-250k, with 34 originations.
Applicant Debt to Income Ratio
Coreplus Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 49 originations. The next most common DTI ratio? 20-30%, with 37 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications78.51%
Coreplus Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination73.74%
Coreplus Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 49 | $10,695,000 | $218,265 |
| NA | 130 | $13,040,000 | $100,308 |