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 and Refi loans. Commonfund Mortgage Corp. has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Syracuse, Utica, Auburn, Poughkeepsie, and Rochester among others. We have data for 16 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 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.

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    Originations

    535

    Origination Dollar Volume (All Markets)

    $87,785,000
    Show all (11) 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) 392 $66,010,000 $168,393 $3,928 3.04%
    UTICA-ROME, NY (FHA|USDA|VA) 61 $8,415,000 $137,951 $4,903 3.14%
    Auburn, NY (FHA|USDA|VA) 56 $7,730,000 $138,036 $4,617 3.03%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 3 $845,000 $281,667 $4,393 2.67%
    ROCHESTER, NY (FHA|USDA|VA) 4 $830,000 $207,500 $5,138 2.72%
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 3 $755,000 $251,667 $4,712 2.75%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 2 $670,000 $335,000 $9,379 2.94%
    Seneca Falls, NY (FHA|USDA|VA) 2 $530,000 $265,000 $3,919 2.94%
    Corning, NY (FHA|USDA|VA) 1 $435,000 $435,000 $2,261 3.13%
    WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 3 $375,000 $125,000 $3,911 2.63%
    Outside of Metro Areas 3 $335,000 $111,667 $5,670 3.17%
    Plattsburgh, NY (FHA|USDA|VA) 1 $235,000 $235,000 $4,458 3.75%
    Ogdensburg-Massena, NY (FHA|USDA|VA) 1 $235,000 $235,000 $7,549 2.88%
    Oneonta, NY (FHA|USDA|VA) 1 $155,000 $155,000 $6,034 3.38%
    Olean, NY (FHA|USDA|VA) 1 $145,000 $145,000 $2,928 3.25%
    Cortland, NY (FHA|USDA|VA) 1 $85,000 $85,000 $3,578 3.63%
    Commonfund Mortgage Corp.'s top markets include Syracuse, Utica, Auburn, Poughkeepsie, and Rochester among others.

    Their top states include:
  • New York (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: 165
    Adirondack Bank
    Similarity Rank: 248
    THE SUMMIT Federal Credit Union
    Similarity Rank: 304
    COUNTRYSIDE Federal Credit Union
    Similarity Rank: 310
    Geddes Federal Savings and Loan Association
    Similarity Rank: 315
    NORTHERN CREDIT UNION
    Similarity Rank: 387
    VISIONS
    Similarity Rank: 816
    CCFCU FUNDING, LLC
    Similarity Rank: 1197
    COMMONFUND MORTGAGE CORP.
    Similarity Rank: 1216
    SEFCU SERVICES, LLC
    Similarity Rank: 1404

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 352 $63,180,000 $179,489 $3,420 3.01%
    FHA 148 $19,030,000 $128,581 $5,717 3.14%
    VA 25 $4,355,000 $174,200 $4,802 2.81%
    USDA 9 $1,045,000 $116,111 $4,980 3.18%
    HELOC 1 $175,000 $175,000 n/a 2.75%

    For 2020, Commonfund Mortgage Corp.'s most frequently originated type of loan was Conventional, with 352 originations. Their 2nd most popular type was FHA, with 148 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 339 $52,885,000 $156,003 $4,652 3.15%
    Refi 147 $26,385,000 $179,490 $3,177 2.77%
    Cash Out Refi 49 $8,515,000 $173,776 $3,873 3.14%

    For 2020, Commonfund Mortgage Corp.'s most frequently cited loan purpose was Home Purchase, with 339 originations. The 2nd most popular reason was Refi, with 147 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 390 $61,660,000 $158,103 $4,464 3.16%
    15 Year 107 $18,495,000 $172,850 $3,298 2.62%
    20 Year 20 $3,640,000 $182,000 $4,177 3.02%
    Other 14 $3,080,000 $220,000 $3,161 3.04%
    10 Year 4 $910,000 $227,500 $3,271 2.91%

    For 2020, Commonfund Mortgage Corp.'s most frequently cited loan duration was 30 Year, with 390 originations. The 2nd most popular length was 15 Year, with 107 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 330 $56,370,000 $170,818
    $<1k 128 $17,400,000 $135,938
    $2k-3k 48 $9,490,000 $197,708
    $3k-4k 10 $1,980,000 $198,000
    $5k+ 2 $830,000 $415,000
    $4k-5k 1 $175,000 $175,000

    Commonfund Mortgage Corp.'s average total fees were $4,464, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 330 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 219 $38,665,000 $176,553
    3-4% 211 $32,175,000 $152,488
    <2.5% 88 $15,120,000 $171,818
    4-5% 17 $1,825,000 $107,353

    During 2020, Commonfund Mortgage Corp.'s average interest rate for loans was 3.16%, while their most frequently originated rate bucket for loans was 2.5-3%, with 219 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 291 $41,665,000 $143,179 $4,196 3.04%
    $200k-400k 132 $33,850,000 $256,439 $4,207 2.94%
    $100,000 or less 103 $8,035,000 $78,010 $3,988 3.19%
    $400k-600k 9 $4,235,000 $470,556 $4,693 2.90%

    2020 saw Commonfund Mortgage Corp. place emphasis on $100k-200k loans with 291 originations, totaling $41,665,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 151 $20,455,000 $135,464 $4,342 3.08%
    $100k-150k 108 $21,550,000 $199,537 $4,035 3.05%
    $50k or less 103 $10,945,000 $106,262 $4,508 3.08%
    $75k-100k 92 $14,880,000 $161,739 $4,126 3.02%
    $150k-250k 60 $14,390,000 $239,833 $3,693 2.89%
    $250k+ 19 $5,315,000 $279,737 $3,469 3.08%

    Commonfund Mortgage Corp. lent most frequently to those with incomes in the $50k-75k range, with 151 originations. The second most popular income band? $100k-150k, with 108 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 146 $25,180,000 $172,466 $3,800 2.93%
    30-36% 85 $13,945,000 $164,059 $4,074 3.04%
    <20% 32 $4,480,000 $140,000 $3,549 2.97%
    40% 27 $4,015,000 $148,704 $4,180 3.12%
    42% 26 $4,210,000 $161,923 $4,416 2.91%
    50-60% 24 $3,630,000 $151,250 $6,261 3.19%
    38% 21 $3,555,000 $169,286 $4,064 3.10%
    44% 20 $3,110,000 $155,500 $3,980 3.13%
    37% 19 $3,635,000 $191,316 $3,746 3.18%
    43% 18 $2,860,000 $158,889 $4,976 3.06%
    39% 18 $2,530,000 $140,556 $3,834 3.20%
    41% 18 $3,650,000 $202,778 $4,883 3.14%
    48% 17 $2,515,000 $147,941 $4,286 3.32%
    47% 15 $2,025,000 $135,000 $4,225 3.14%
    36% 14 $2,630,000 $187,857 $4,365 3.06%
    46% 12 $1,710,000 $142,500 $4,360 3.08%
    49% 11 $2,045,000 $185,909 $5,378 3.06%
    45% 9 $1,605,000 $178,333 $4,184 3.01%

    Commonfund Mortgage Corp. lent most frequently to those with DTI ratios of 20-30%, with 146 originations. The next most common DTI ratio? 30-36%, with 85 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 505 $82,055,000 $162,485 $4,144 3.03%
    Asian 13 $2,585,000 $198,846 $3,655 3.04%
    Black 11 $2,015,000 $183,182 $5,224 3.40%
    Not provided 3 $735,000 $245,000 $5,938 2.79%
    Filipino 1 $155,000 $155,000 $6,034 3.38%
    Native Hawaiian or Islander 1 $135,000 $135,000 $5,413 2.75%
    Asian Indian 1 $105,000 $105,000 $0 4.13%

    Approval Rates

    Total approvals of all applications
    95.79%

    Commonfund Mortgage Corp. has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    93.83%

    Commonfund Mortgage Corp. has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 535 $87,785,000 $164,084

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 11 $1,265,000 $115,000
    Single Family (1-4 Units):Site-Built 524 $86,520,000 $165,115

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 11 $1,365,000 $124,091 $3,203 3.04%
    40-60% 43 $5,945,000 $138,256 $3,655 2.84%
    60-80% 154 $27,390,000 $177,857 $3,280 2.98%
    80-100% 320 $51,860,000 $162,063 $4,594 3.10%
    Over 100% 6 $1,130,000 $188,333 $7,871 2.83%
    Under 20% 1 $95,000 $95,000 $4,012 2.75%