Cuso Mortgage Corporation Rates, Fees & Info

PORTLAND, ME

LEI: 549300H89M6KDLFKMQ19

Tax ID: 01-0479491

5 stars - Updated: 12/10/23 - out of 5 stars, based on 14 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Cuso Mortgage Corporation is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Cuso Mortgage Corporation has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Portland, Bangor, Augusta, and Lewiston among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Cuso Mortgage Corporation has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Cuso Mortgage Corporation 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.67% 12/10/23
    30 Year Conventional Refi 6.67% 12/10/23
    30 Year Cash-out Refi 6.68% 12/10/23
    30 Year FHA Purchase 7.11% 12/10/23
    30 Year FHA Refi 6.27% 12/10/23
    30 Year VA Purchase 5.97% 12/10/23
    30 Year USDA Purchase 6.04% 12/10/23
    15 Year Conventional Purchase 6.46% 12/10/23
    15 Year Conventional Refi 6.11% 12/10/23
    15 Year Cash-out Refi 6.11% 12/10/23
    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.

    Cuso Mortgage Corporation Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Cuso Mortgage Corporation. 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

    209

    Origination Dollar Volume (All Markets)

    $36,995,000
    Show all (7) awards

    Relative Rate

    Cuso Mortgage Corporation's average 30 year fixed mortgage rate was 4.5%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of -0.26%.

    Relative Fees (Closing Costs)

    Cuso Mortgage Corporation's average total fees/closing costs for a 30 year fixed rate mortgage were $5,109.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

    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
    Outside of Metro Areas 88 $14,910,000 $169,432 $4,709 4.39%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 38 $9,020,000 $237,368 $5,281 4.07%
    BANGOR, ME (FHA|USDA|VA) 53 $8,055,000 $151,981 $4,231 4.01%
    Augusta-Waterville, ME (FHA|USDA|VA) 23 $3,735,000 $162,391 $4,942 4.43%
    LEWISTON-AUBURN, ME (FHA|USDA|VA) 7 $1,275,000 $182,143 $4,690 4.57%
    Cuso Mortgage Corporation's top markets include Portland, Bangor, Augusta, and Lewiston among others.

    Their top states include:
  • Maine (FHA|USDA|VA)

    • Similar Lenders

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

    MAINE FAMILY
    Similarity Rank: 12
    MAINE HIGHLANDS FEDERAL CREDIT UNION
    Similarity Rank: 138
    Piscataqua Savings Bank
    Similarity Rank: 168
    CASCO
    Similarity Rank: 452
    CUMBERLAND COUNTY
    Similarity Rank: 580
    TOWN & COUNTRY FEDERAL CREDIT UNION
    Similarity Rank: 600
    Cambridge Trust Company
    Similarity Rank: 675
    Kennebec Savings Bank
    Similarity Rank: 680
    FIVE COUNTY
    Similarity Rank: 735
    CUSO MORTGAGE CORPORATION
    Similarity Rank: 815

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 150 $26,120,000 $174,133 $4,052 4.20%
    USDA 30 $4,600,000 $153,333 $4,985 4.02%
    FHA 25 $5,505,000 $220,200 $8,353 4.76%
    VA 4 $770,000 $192,500 $4,912 4.28%

    For 2022, Cuso Mortgage Corporation's most frequently originated type of loan was Conventional, with 150 originations. Their 2nd most popular type was USDA, with 30 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 110 $19,820,000 $180,182 $5,251 4.68%
    Cash Out Refi 64 $11,990,000 $187,344 $4,725 3.85%
    Refi 35 $5,185,000 $148,143 $3,024 3.60%

    For 2022, Cuso Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 110 originations. The 2nd most popular reason was Cash Out Refi, with 64 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 148 $26,500,000 $179,054 $5,109 4.50%
    15 Year 31 $5,385,000 $173,710 $3,699 3.69%
    20 Year 17 $2,955,000 $173,824 $3,873 4.02%
    10 Year 11 $1,625,000 $147,727 $3,388 2.91%
    Other 2 $530,000 $265,000 $5,962 3.69%

    For 2022, Cuso Mortgage Corporation's most frequently cited loan duration was 30 Year, with 148 originations. The 2nd most popular length was 15 Year, with 31 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 128 $19,170,000 $149,766
    $2k-3k 44 $8,530,000 $193,864
    $3k-4k 19 $4,325,000 $227,632
    $5k+ 9 $3,015,000 $335,000
    $4k-5k 6 $1,270,000 $211,667
    $<1k 3 $685,000 $228,333

    Cuso Mortgage Corporation's average total fees were $5,109, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 128 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 82 $15,110,000 $184,268
    5-6% 38 $6,590,000 $173,421
    4-5% 32 $6,040,000 $188,750
    2.5-3% 30 $4,690,000 $156,333
    6-7% 12 $2,490,000 $207,500
    <2.5% 9 $1,085,000 $120,556
    7-8% 6 $990,000 $165,000

    During 2022, Cuso Mortgage Corporation's average interest rate for loans was 4.50%, while their most frequently originated rate bucket for loans was 3-4%, with 82 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 109 $16,105,000 $147,752 $4,401 4.29%
    $200k-400k 61 $16,745,000 $274,508 $5,939 4.26%
    $100,000 or less 36 $2,820,000 $78,333 $3,444 4.10%
    $400k-600k 3 $1,325,000 $441,667 $6,600 3.96%

    2022 saw Cuso Mortgage Corporation place emphasis on $100k-200k loans with 109 originations, totaling $16,105,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 67 $10,995,000 $164,104 $4,813 4.47%
    $50k or less 52 $6,070,000 $116,731 $4,032 4.19%
    $75k-100k 42 $8,370,000 $199,286 $5,201 4.25%
    $100k-150k 30 $6,420,000 $214,000 $4,884 4.13%
    $150k-250k 11 $3,075,000 $279,545 $5,241 3.61%
    $250k+ 6 $1,950,000 $325,000 $4,824 4.19%

    Cuso Mortgage Corporation lent most frequently to those with incomes in the $50k-75k range, with 67 originations. The second most popular income band? $50k or less, with 52 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 54 $9,450,000 $175,000 $4,557 4.06%
    20-30% 39 $6,365,000 $163,205 $4,355 3.95%
    <20% 17 $2,685,000 $157,941 $3,236 3.69%
    40% 12 $2,070,000 $172,500 $4,154 4.62%
    37% 11 $2,075,000 $188,636 $4,929 4.93%
    42% 9 $1,595,000 $177,222 $4,008 3.99%
    41% 9 $1,595,000 $177,222 $4,590 4.53%
    43% 9 $1,725,000 $191,667 $5,080 4.24%
    47% 8 $1,670,000 $208,750 $5,655 4.98%
    44% 8 $1,480,000 $185,000 $5,871 4.36%
    38% 8 $1,620,000 $202,500 $5,492 4.36%
    39% 6 $900,000 $150,000 $4,134 4.23%
    36% 5 $935,000 $187,000 $5,456 4.47%
    49% 4 $640,000 $160,000 $5,647 4.06%
    50-60% 4 $550,000 $137,500 $6,162 4.81%
    48% 3 $885,000 $295,000 $8,582 5.33%
    45% 2 $430,000 $215,000 $6,615 6.38%
    46% 1 $325,000 $325,000 $13,234 5.25%

    Cuso Mortgage Corporation lent most frequently to those with DTI ratios of 30-36%, with 54 originations. The next most common DTI ratio? 20-30%, with 39 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 189 $33,675,000 $178,175 $4,791 4.21%
    Not provided 17 $2,805,000 $165,000 $4,162 4.57%
    Asian 1 $345,000 $345,000 $3,172 5.50%
    American Indian 1 $85,000 $85,000 $3,088 3.88%
    Black 1 $85,000 $85,000 $3,377 3.88%

    Approval Rates

    Total approvals of all applications
    68.70%

    Cuso Mortgage Corporation has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    76.56%

    Cuso Mortgage Corporation has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 209 $36,995,000 $177,010

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    209 $36,995,000 $177,010

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 21 $2,925,000 $139,286 $3,156 4.49%
    40-60% 59 $9,725,000 $164,831 $3,766 3.83%
    60-80% 59 $10,945,000 $185,508 $4,897 4.21%
    80-100% 70 $13,400,000 $191,429 $5,834 4.55%