Cuso Mortgage Corporation Rates, Fees & Info

PORTLAND, ME

LEI: 549300H89M6KDLFKMQ19

Tax ID: 01-0479491

5 stars - out of 5 stars, based on 30 reviews

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

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Mortgage Data

  • SimulatedRates™
  • 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 Refi, Cash Out Refi, and Home Purchase loans. Cuso Mortgage Corporation 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: Portland, Bangor, Augusta, Lewiston, and Boston among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Cuso Mortgage Corporation 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. 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.55% 3/19/23
    30 Year Conventional Refi 6.41% 3/19/23
    30 Year Cash-out Refi 6.49% 3/19/23
    30 Year FHA Purchase 7.09% 3/19/23
    30 Year FHA Refi 7.04% 3/19/23
    30 Year VA Purchase 6.32% 3/19/23
    30 Year VA Refi 6.45% 3/19/23
    30 Year USDA Purchase 6.74% 3/19/23
    15 Year Conventional Purchase 5.96% 3/19/23
    15 Year Conventional Refi 5.92% 3/19/23
    15 Year Cash-out Refi 5.92% 3/19/23
    15 Year FHA Purchase 7.40% 3/19/23
    15 Year FHA Refi 5.68% 3/19/23
    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.


    Originations

    887

    Origination Dollar Volume (All Markets)

    $162,955,000
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    Relative Rate

    Cuso Mortgage Corporation's average 30 year fixed mortgage rate was 2.96%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.19%.

    Relative Fees (Closing Costs)

    Cuso Mortgage Corporation's average total fees/closing costs for a 30 year fixed rate mortgage were $4,486.

    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
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 265 $57,385,000 $216,547 $4,003 2.76%
    Outside of Metro Areas 288 $50,470,000 $175,243 $3,970 2.78%
    BANGOR, ME (FHA|USDA|VA) 209 $33,705,000 $161,268 $3,817 2.72%
    Augusta-Waterville, ME (FHA|USDA|VA) 76 $11,710,000 $154,079 $3,984 2.73%
    LEWISTON-AUBURN, ME (FHA|USDA|VA) 44 $8,630,000 $196,136 $4,071 2.75%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 2 $430,000 $215,000 $2,662 2.50%
    Concord, NH (FHA|USDA|VA) 1 $255,000 $255,000 $4,138 3.13%
    Laconia, NH (FHA|USDA|VA) 1 $195,000 $195,000 $2,248 3.13%
    Lebanon, NH-VT (FHA|USDA|VA) 1 $175,000 $175,000 $2,221 3.00%
    Cuso Mortgage Corporation's top markets include Portland, Bangor, Augusta, Lewiston, and Boston among others.

    Their top states include:
  • Maine (FHA|USDA|VA)
  • New Hampshire (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
    INFINITY Federal Credit Union
    Similarity Rank: 136
    MAINE HIGHLANDS FEDERAL CREDIT UNION
    Similarity Rank: 138
    CASCO
    Similarity Rank: 226
    TOWN & COUNTRY FEDERAL CREDIT UNION
    Similarity Rank: 240
    Piscataqua Savings Bank
    Similarity Rank: 252
    CUMBERLAND COUNTY
    Similarity Rank: 464
    Saco & Biddeford Savings Institution
    Similarity Rank: 556
    Cambridge Trust Company
    Similarity Rank: 585
    Kennebec Savings Bank
    Similarity Rank: 680

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 807 $148,815,000 $184,405 $3,763 2.75%
    USDA 42 $6,600,000 $157,143 $5,017 2.85%
    VA 20 $4,460,000 $223,000 $6,548 2.81%
    FHA 18 $3,080,000 $171,111 $6,610 2.74%

    For 2021, Cuso Mortgage Corporation's most frequently originated type of loan was Conventional, with 807 originations. Their 2nd most popular type was USDA, with 42 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 386 $66,010,000 $171,010 $3,034 2.66%
    Cash Out Refi 305 $60,225,000 $197,459 $4,645 2.76%
    Home Purchase 196 $36,720,000 $187,347 $4,641 2.93%

    For 2021, Cuso Mortgage Corporation's most frequently cited loan purpose was Refi, with 386 originations. The 2nd most popular reason was Cash Out Refi, with 305 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 430 $85,290,000 $198,349 $4,486 2.96%
    15 Year 265 $43,645,000 $164,698 $3,264 2.43%
    20 Year 93 $16,385,000 $176,183 $3,724 2.85%
    Other 57 $11,645,000 $204,298 $4,006 2.91%
    10 Year 42 $5,990,000 $142,619 $3,072 2.32%

    For 2021, Cuso Mortgage Corporation's most frequently cited loan duration was 30 Year, with 430 originations. The 2nd most popular length was 15 Year, with 265 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 459 $71,405,000 $155,566
    $2k-3k 178 $36,840,000 $206,966
    $<1k 112 $19,590,000 $174,911
    $3k-4k 80 $17,920,000 $224,000
    $4k-5k 32 $8,730,000 $272,813
    $5k+ 26 $8,470,000 $325,769

    Cuso Mortgage Corporation's average total fees were $4,486, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 459 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 451 $86,585,000 $191,984
    <2.5% 286 $45,700,000 $159,790
    3-4% 149 $30,425,000 $204,195
    4-5% 1 $245,000 $245,000

    During 2021, Cuso Mortgage Corporation's average interest rate for loans was 2.96%, while their most frequently originated rate bucket for loans was 2.5-3%, with 451 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 465 $70,485,000 $151,581 $3,626 2.74%
    $200k-400k 279 $72,355,000 $259,337 $4,712 2.80%
    $100,000 or less 120 $9,510,000 $79,250 $3,079 2.66%
    $400k-600k 23 $10,605,000 $461,087 $5,558 2.91%

    2021 saw Cuso Mortgage Corporation place emphasis on $100k-200k loans with 465 originations, totaling $70,485,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 232 $37,900,000 $163,362 $3,912 2.78%
    $50k or less 175 $21,415,000 $122,371 $3,597 2.84%
    $75k-100k 170 $32,360,000 $190,353 $4,015 2.74%
    $100k-150k 169 $34,395,000 $203,521 $4,025 2.70%
    $150k-250k 115 $29,195,000 $253,870 $4,307 2.70%
    $250k+ 25 $7,285,000 $291,400 $4,073 2.69%

    Cuso Mortgage Corporation lent most frequently to those with incomes in the $50k-75k range, with 232 originations. The second most popular income band? $50k or less, with 175 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 257 $46,225,000 $179,864 $3,735 2.72%
    30-36% 178 $33,800,000 $189,888 $3,870 2.76%
    <20% 103 $17,595,000 $170,825 $3,547 2.72%
    39% 37 $7,445,000 $201,216 $4,400 2.80%
    38% 37 $6,175,000 $166,892 $4,189 2.68%
    40% 33 $5,555,000 $168,333 $4,112 2.86%
    36% 31 $5,155,000 $166,290 $4,176 2.85%
    42% 29 $5,235,000 $180,517 $4,397 2.79%
    44% 28 $5,470,000 $195,357 $4,464 2.88%
    41% 26 $5,130,000 $197,308 $4,540 2.72%
    43% 24 $5,350,000 $222,917 $4,801 2.79%
    45% 20 $3,230,000 $161,500 $3,923 2.78%
    37% 19 $3,465,000 $182,368 $4,471 2.73%
    46% 17 $3,475,000 $204,412 $3,516 2.82%
    49% 17 $3,375,000 $198,529 $3,472 2.74%
    47% 14 $2,580,000 $184,286 $4,182 2.76%
    48% 11 $2,165,000 $196,818 $4,573 2.81%
    50-60% 4 $980,000 $245,000 $4,873 2.78%
    >60% 2 $550,000 $275,000 $2,224 2.69%

    Cuso Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 257 originations. The next most common DTI ratio? 30-36%, with 178 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 794 $145,200,000 $182,872 $3,943 2.75%
    Not provided 73 $14,235,000 $195,000 $3,929 2.76%
    Asian 8 $1,860,000 $232,500 $3,841 2.73%
    American Indian 9 $1,205,000 $133,889 $3,949 2.64%
    Black 3 $455,000 $151,667 $4,648 3.13%

    Approval Rates

    Total approvals of all applications
    85.01%

    Cuso Mortgage Corporation has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.53%

    Cuso Mortgage Corporation has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 887 $162,955,000 $183,715

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    887 $162,955,000 $183,715

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 63 $7,765,000 $123,254 $3,007 2.55%
    40-60% 251 $41,425,000 $165,040 $3,144 2.69%
    60-80% 400 $80,400,000 $201,000 $4,152 2.77%
    80-100% 170 $33,020,000 $194,235 $4,982 2.88%
    Under 20% 3 $345,000 $115,000 $3,756 2.46%