Commonfund Mortgage Corp. Rates, Fees & Info

SYRACUSE, NY

LEI: 5493000XMEVMIQFXVW32

Tax ID: 16-1223707

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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

    Commonfund Mortgage Corp. is a smaller mortgage company specializing in Home Purchase loans. They have a a high proportion of FHA loans. Commonfund Mortgage Corp. has a high proportion of conventional loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Syracuse, Auburn, Utica, Rochester, and New York among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Commonfund Mortgage Corp. has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Commonfund Mortgage Corp. 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.

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    Originations

    397

    Origination Dollar Volume (All Markets)

    $53,375,000
    Show all (5) 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
    SYRACUSE, NY (FHA|USDA|VA) 287 $38,715,000 $134,895 $4,885 4.62%
    Auburn, NY (FHA|USDA|VA) 47 $5,905,000 $125,638 $5,260 4.53%
    UTICA-ROME, NY (FHA|USDA|VA) 27 $3,705,000 $137,222 $4,831 4.60%
    ROCHESTER, NY (FHA|USDA|VA) 14 $1,840,000 $131,429 $4,292 4.42%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 3 $1,115,000 $371,667 $4,399 4.12%
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 4 $580,000 $145,000 $6,240 4.75%
    Outside of Metro Areas 5 $445,000 $89,000 $4,752 4.48%
    Cortland, NY (FHA|USDA|VA) 2 $200,000 $100,000 $5,812 4.38%
    BINGHAMTON, NY (FHA|USDA|VA) 2 $200,000 $100,000 $3,779 4.88%
    WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 2 $190,000 $95,000 $4,090 4.94%
    SALISBURY, MD-DE (FHA|USDA|VA) 1 $175,000 $175,000 $4,221 5.38%
    Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) 1 $135,000 $135,000 $3,435 4.63%
    GLENS FALLS, NY (FHA|USDA|VA) 1 $125,000 $125,000 $0 4.65%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $45,000 $45,000 $0 5.00%
    Commonfund Mortgage Corp.'s top markets include Syracuse, Auburn, Utica, Rochester, and New York among others.

    Their top states include:
  • New York (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)

    • Similar Lenders

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

    SECNY Federal Credit Union
    Similarity Rank: 44
    VISIONS
    Similarity Rank: 50
    Geddes Federal Savings and Loan Association
    Similarity Rank: 60
    COUNTRYSIDE Federal Credit Union
    Similarity Rank: 84
    Adirondack Bank
    Similarity Rank: 126
    CCFCU FUNDING, LLC
    Similarity Rank: 260
    SEFCU SERVICES, LLC
    Similarity Rank: 888
    The Lyons National Bank
    Similarity Rank: 940
    Empower Federal Credit Union
    Similarity Rank: 960
    COMMONFUND MORTGAGE CORP.
    Similarity Rank: 1358

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    FHA 197 $24,965,000 $126,726 $5,551 4.53%
    Conventional 155 $22,135,000 $142,806 $3,907 4.75%
    VA 25 $4,025,000 $161,000 $5,294 4.43%
    USDA 12 $1,280,000 $106,667 $4,947 4.39%
    FHA 8 $970,000 $121,250 $0 4.61%

    For 2018, Commonfund Mortgage Corp.'s most frequently originated type of loan was FHA, with 197 originations. Their 2nd most popular type was Conventional, with 155 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 360 $48,550,000 $134,861 $4,990 4.60%
    Cash Out Refi 21 $3,035,000 $144,524 $3,787 4.68%
    Refi 16 $1,790,000 $111,875 $3,206 4.62%

    For 2018, Commonfund Mortgage Corp.'s most frequently cited loan purpose was Home Purchase, with 360 originations. The 2nd most popular reason was Cash Out Refi, with 21 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 363 $48,965,000 $134,890 $4,976 4.62%
    15 Year 17 $2,295,000 $135,000 $3,757 4.29%
    20 Year 9 $1,145,000 $127,222 $3,506 4.64%
    Other 8 $970,000 $121,250 $0 4.61%

    For 2018, Commonfund Mortgage Corp.'s most frequently cited loan duration was 30 Year, with 363 originations. The 2nd most popular length was 15 Year, with 17 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 198 $25,000,000 $126,263
    $<1k 137 $18,375,000 $134,124
    $2k-3k 34 $4,710,000 $138,529
    $3k-4k 14 $2,780,000 $198,571
    $5k+ 4 $1,200,000 $300,000
    $4k-5k 2 $340,000 $170,000

    Commonfund Mortgage Corp.'s average total fees were $4,976, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 198 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 298 $39,330,000 $131,980
    5-6% 52 $6,250,000 $120,192
    3-4% 46 $7,730,000 $168,043
    6-7% 1 $65,000 $65,000

    During 2018, Commonfund Mortgage Corp.'s average interest rate for loans was 4.62%, while their most frequently originated rate bucket for loans was 4-5%, with 298 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 240 $33,340,000 $138,917 $4,854 4.58%
    $100,000 or less 114 $8,780,000 $77,018 $4,346 4.70%
    $200k-400k 41 $10,365,000 $252,805 $6,439 4.55%
    $400k-600k 2 $890,000 $445,000 $8,767 3.88%

    2018 saw Commonfund Mortgage Corp. place emphasis on $100k-200k loans with 240 originations, totaling $33,340,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 131 $16,585,000 $126,603 $4,932 4.59%
    $50k or less 121 $12,105,000 $100,041 $4,517 4.60%
    $75k-100k 70 $10,650,000 $152,143 $5,165 4.71%
    $100k-150k 49 $8,715,000 $177,857 $5,669 4.49%
    $150k-250k 16 $3,010,000 $188,125 $4,250 4.63%
    $250k+ 10 $2,310,000 $231,000 $4,397 4.73%

    Commonfund Mortgage Corp. lent most frequently to those with incomes in the $50k-75k range, with 131 originations. The second most popular income band? $50k or less, with 121 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 74 $9,620,000 $130,000 $4,666 4.62%
    20-30% 65 $8,195,000 $126,077 $4,371 4.68%
    50-60% 49 $6,735,000 $137,449 $5,531 4.53%
    39% 22 $2,730,000 $124,091 $4,731 4.65%
    <20% 17 $2,355,000 $138,529 $4,104 4.74%
    38% 17 $2,285,000 $134,412 $4,813 4.68%
    36% 15 $2,215,000 $147,667 $6,026 4.28%
    37% 14 $1,650,000 $117,857 $4,587 4.72%
    46% 13 $1,595,000 $122,692 $5,180 4.71%
    48% 13 $1,405,000 $108,077 $4,766 4.55%
    42% 12 $1,810,000 $150,833 $5,480 4.54%
    40% 12 $1,630,000 $135,833 $4,848 4.48%
    43% 12 $2,030,000 $169,167 $5,947 4.50%
    49% 12 $1,430,000 $119,167 $4,138 4.54%
    44% 11 $1,775,000 $161,364 $5,871 4.74%
    45% 11 $1,885,000 $171,364 $4,759 4.57%
    47% 10 $1,380,000 $138,000 $4,874 4.45%
    41% 10 $1,470,000 $147,000 $5,091 4.63%
    >60% 7 $1,035,000 $147,857 $4,786 4.73%

    Commonfund Mortgage Corp. lent most frequently to those with DTI ratios of 30-36%, with 74 originations. The next most common DTI ratio? 20-30%, with 65 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 362 $49,000,000 $135,359 $4,869 4.60%
    Black 20 $2,780,000 $139,000 $5,732 4.80%
    Asian 12 $1,260,000 $105,000 $4,680 4.49%
    American Indian 2 $270,000 $135,000 $5,202 4.50%
    Native Hawaiian or Islander 1 $65,000 $65,000 $4,752 4.13%

    Approval Rates

    Total approvals of all applications
    94.83%

    Commonfund Mortgage Corp. has an average approval rate.

    Pick Rate

    Approvals leading to origination
    93.95%

    Commonfund Mortgage Corp. has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 397 $53,375,000 $134,446

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 11 $965,000 $87,727
    Single Family (1-4 Units):Site-Built 386 $52,410,000 $135,777

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 2 $500,000 $250,000 $3,587 4.06%
    40-60% 9 $1,055,000 $117,222 $4,021 4.63%
    60-80% 58 $7,530,000 $129,828 $3,796 4.86%
    80-100% 321 $43,065,000 $134,159 $5,012 4.57%
    Over 100% 7 $1,225,000 $175,000 $7,727 4.38%