Commonfund Mortgage Corp. Rates, Fees & Info

SYRACUSE, NY

LEI: 5493000XMEVMIQFXVW32

Tax ID: 16-1223707

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

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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. 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, Watertown, and Albany among others. We have data for 12 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

    393

    Origination Dollar Volume (All Markets)

    $67,435,000

    Awards

    COMMONFUND MORTGAGE CORP. FHA Loans bronze COMMONFUND MORTGAGE CORP. FHA Loans gold COMMONFUND MORTGAGE CORP. FHA Loans bronze
    Show all (3) 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) 285 $49,735,000 $174,509 $4,184 2.97%
    UTICA-ROME, NY (FHA|USDA|VA) 50 $7,490,000 $149,800 $5,294 2.92%
    Auburn, NY (FHA|USDA|VA) 40 $6,360,000 $159,000 $4,485 2.86%
    WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 3 $1,055,000 $351,667 $5,483 2.96%
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 2 $550,000 $275,000 $9,113 3.00%
    ROCHESTER, NY (FHA|USDA|VA) 3 $525,000 $175,000 $3,987 3.04%
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 2 $510,000 $255,000 $3,093 3.00%
    ITHACA, NY (FHA|USDA|VA) 2 $370,000 $185,000 $3,156 2.87%
    Oneonta, NY (FHA|USDA|VA) 2 $340,000 $170,000 $6,376 3.19%
    Cortland, NY (FHA|USDA|VA) 2 $270,000 $135,000 $3,413 3.25%
    Seneca Falls, NY (FHA|USDA|VA) 1 $155,000 $155,000 $6,769 2.88%
    Ogdensburg-Massena, NY (FHA|USDA|VA) 1 $75,000 $75,000 $4,398 2.63%
    Commonfund Mortgage Corp.'s top markets include Syracuse, Utica, Auburn, Watertown, and Albany 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: 57
    COUNTRYSIDE Federal Credit Union
    Similarity Rank: 192
    Geddes Federal Savings and Loan Association
    Similarity Rank: 192
    Adirondack Bank
    Similarity Rank: 224
    THE SUMMIT Federal Credit Union
    Similarity Rank: 304
    Tompkins Trust Company
    Similarity Rank: 363
    VISIONS
    Similarity Rank: 364
    FIRST SOURCE
    Similarity Rank: 420
    Pathfinder Bank
    Similarity Rank: 616
    CCFCU FUNDING, LLC
    Similarity Rank: 1134

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 271 $48,895,000 $180,424 $3,550 2.98%
    FHA 100 $14,840,000 $148,400 $6,287 2.90%
    VA 21 $3,565,000 $169,762 $5,899 2.79%
    USDA 1 $135,000 $135,000 $5,076 2.38%

    For 2021, Commonfund Mortgage Corp.'s most frequently originated type of loan was Conventional, with 271 originations. Their 2nd most popular type was FHA, with 100 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 293 $52,015,000 $177,526 $4,741 3.00%
    Refi 55 $8,745,000 $159,000 $3,063 2.65%
    Cash Out Refi 45 $6,675,000 $148,333 $3,708 3.04%

    For 2021, Commonfund Mortgage Corp.'s most frequently cited loan purpose was Home Purchase, with 293 originations. The 2nd most popular reason was Refi, with 55 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 321 $56,035,000 $174,564 $4,638 3.04%
    15 Year 56 $9,030,000 $161,250 $3,204 2.45%
    Other 8 $1,210,000 $151,250 $3,395 2.91%
    20 Year 7 $1,075,000 $153,571 $3,727 3.23%
    10 Year 1 $85,000 $85,000 $3,463 2.63%

    For 2021, Commonfund Mortgage Corp.'s most frequently cited loan duration was 30 Year, with 321 originations. The 2nd most popular length was 15 Year, with 56 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 241 $41,035,000 $170,270
    $<1k 83 $12,865,000 $155,000
    $2k-3k 45 $8,735,000 $194,111
    $3k-4k 10 $2,200,000 $220,000
    $4k-5k 4 $920,000 $230,000
    $5k+ 3 $815,000 $271,667

    Commonfund Mortgage Corp.'s average total fees were $4,638, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 241 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 187 $32,095,000 $171,631
    3-4% 141 $25,155,000 $178,404
    <2.5% 62 $9,750,000 $157,258
    4-5% 3 $435,000 $145,000

    During 2021, Commonfund Mortgage Corp.'s average interest rate for loans was 3.04%, while their most frequently originated rate bucket for loans was 2.5-3%, with 187 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 234 $34,070,000 $145,598 $4,323 3.00%
    $200k-400k 102 $27,250,000 $267,157 $4,799 2.94%
    $100,000 or less 53 $4,445,000 $83,868 $3,963 2.78%
    $400k-600k 4 $1,670,000 $417,500 $3,400 2.94%

    2021 saw Commonfund Mortgage Corp. place emphasis on $100k-200k loans with 234 originations, totaling $34,070,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 114 $16,760,000 $147,018 $4,446 2.94%
    $100k-150k 88 $18,500,000 $210,227 $4,216 2.94%
    $50k or less 80 $9,740,000 $121,750 $4,710 2.97%
    $75k-100k 63 $10,825,000 $171,825 $4,531 3.00%
    $150k-250k 33 $7,705,000 $233,485 $4,075 2.90%
    $250k+ 11 $3,325,000 $302,273 $3,359 3.08%

    Commonfund Mortgage Corp. lent most frequently to those with incomes in the $50k-75k range, with 114 originations. The second most popular income band? $100k-150k, with 88 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 92 $16,270,000 $176,848 $4,106 2.89%
    30-36% 74 $12,960,000 $175,135 $4,283 2.90%
    <20% 28 $4,950,000 $176,786 $3,598 2.79%
    48% 18 $3,030,000 $168,333 $5,266 3.01%
    46% 17 $2,525,000 $148,529 $5,080 3.01%
    36% 16 $2,690,000 $168,125 $4,025 3.02%
    44% 16 $2,460,000 $153,750 $4,340 2.97%
    47% 14 $2,350,000 $167,857 $3,914 3.07%
    50-60% 13 $2,055,000 $158,077 $6,362 3.05%
    37% 13 $2,385,000 $183,462 $5,416 3.24%
    42% 13 $2,195,000 $168,846 $4,701 3.18%
    40% 12 $2,160,000 $180,000 $4,461 2.91%
    41% 12 $1,790,000 $149,167 $3,886 3.07%
    49% 12 $1,740,000 $145,000 $4,831 2.82%
    39% 11 $2,075,000 $188,636 $4,443 2.99%
    43% 10 $1,660,000 $166,000 $4,057 3.09%
    38% 10 $2,050,000 $205,000 $5,130 2.95%
    45% 9 $1,635,000 $181,667 $4,681 3.10%

    Commonfund Mortgage Corp. lent most frequently to those with DTI ratios of 20-30%, with 92 originations. The next most common DTI ratio? 30-36%, with 74 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 350 $60,460,000 $172,743 $4,321 2.96%
    Asian 13 $2,575,000 $198,077 $4,029 2.79%
    Black 17 $2,445,000 $143,824 $5,103 2.93%
    Not provided 13 $1,955,000 $150,385 $5,679 2.86%

    Approval Rates

    Total approvals of all applications
    96.12%

    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
    92.88%

    Commonfund Mortgage Corp. has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 393 $67,435,000 $171,590

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    393 $67,435,000 $171,590

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $600,000 $100,000 $3,047 2.67%
    40-60% 15 $2,255,000 $150,333 $3,147 2.55%
    60-80% 102 $17,850,000 $175,000 $3,616 3.01%
    80-100% 263 $45,325,000 $172,338 $4,694 2.97%
    Over 100% 5 $1,055,000 $211,000 $9,542 2.68%