Cuso Mortgage Corporation Rates, Fees & Info

PORTLAND, ME

LEI: 549300H89M6KDLFKMQ19

Tax ID: 01-0479491

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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 and Cash Out Refi 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 6 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 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.

    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% 12/16/24
    30 Year Conventional Refi 6.67% 12/16/24
    30 Year Cash-out Refi 6.68% 12/16/24
    30 Year FHA Purchase 7.11% 12/16/24
    30 Year FHA Refi 6.27% 12/16/24
    30 Year VA Purchase 5.97% 12/16/24
    30 Year USDA Purchase 6.04% 12/16/24
    15 Year Conventional Purchase 6.46% 12/16/24
    15 Year Conventional Refi 6.11% 12/16/24
    15 Year Cash-out Refi 6.11% 12/16/24
    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

    1,713

    Origination Dollar Volume (All Markets)

    $331,925,000
    Show all (8) 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
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 729 $164,355,000 $225,453 $3,809 2.82%
    Outside of Metro Areas 421 $74,445,000 $176,829 $3,732 2.77%
    BANGOR, ME (FHA|USDA|VA) 345 $57,965,000 $168,014 $3,472 2.77%
    Augusta-Waterville, ME (FHA|USDA|VA) 141 $22,075,000 $156,560 $3,555 2.78%
    LEWISTON-AUBURN, ME (FHA|USDA|VA) 74 $12,620,000 $170,541 $3,629 2.77%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 3 $465,000 $155,000 $2,218 2.46%
    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: 60
    Piscataqua Savings Bank
    Similarity Rank: 136
    MAINE HIGHLANDS FEDERAL CREDIT UNION
    Similarity Rank: 148
    CUMBERLAND COUNTY
    Similarity Rank: 176
    TOWN & COUNTRY FEDERAL CREDIT UNION
    Similarity Rank: 222
    CASCO
    Similarity Rank: 324
    FIVE COUNTY
    Similarity Rank: 484
    Maine Savings Federal Credit Union
    Similarity Rank: 560
    MEMBERS MORTGAGE COMPANY, INC.
    Similarity Rank: 570
    Kennebec Savings Bank
    Similarity Rank: 605

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,636 $318,450,000 $194,652 $3,605 2.77%
    USDA 50 $7,810,000 $156,200 $5,007 3.14%
    VA 15 $3,375,000 $225,000 $5,924 3.27%
    FHA 12 $2,290,000 $190,833 $7,115 3.24%

    For 2020, Cuso Mortgage Corporation's most frequently originated type of loan was Conventional, with 1,636 originations. Their 2nd most popular type was USDA, with 50 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 969 $195,635,000 $201,894 $3,103 2.74%
    Cash Out Refi 510 $93,110,000 $182,569 $4,426 2.75%
    Home Purchase 234 $43,180,000 $184,530 $4,521 3.07%

    For 2020, Cuso Mortgage Corporation's most frequently cited loan purpose was Refi, with 969 originations. The 2nd most popular reason was Cash Out Refi, with 510 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 789 $165,005,000 $209,132 $4,150 2.99%
    15 Year 576 $101,440,000 $176,111 $3,126 2.51%
    20 Year 200 $39,100,000 $195,500 $3,555 2.86%
    Other 90 $19,120,000 $212,444 $3,953 2.87%
    10 Year 58 $7,260,000 $125,172 $3,106 2.55%

    For 2020, Cuso Mortgage Corporation's most frequently cited loan duration was 30 Year, with 789 originations. The 2nd most popular length was 15 Year, with 576 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 701 $122,025,000 $174,073
    $<1k 451 $80,665,000 $178,858
    $2k-3k 332 $70,230,000 $211,536
    $3k-4k 130 $31,440,000 $241,846
    $4k-5k 50 $13,010,000 $260,200
    $5k+ 49 $14,555,000 $297,041

    Cuso Mortgage Corporation's average total fees were $4,150, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 701 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 974 $199,260,000 $204,579
    <2.5% 512 $87,660,000 $171,211
    3-4% 220 $43,990,000 $199,955
    4-5% 7 $1,015,000 $145,000

    During 2020, Cuso Mortgage Corporation's average interest rate for loans was 2.99%, while their most frequently originated rate bucket for loans was 2.5-3%, with 974 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 839 $125,095,000 $149,100 $3,381 2.77%
    $200k-400k 648 $171,150,000 $264,120 $4,198 2.84%
    $100,000 or less 179 $14,555,000 $81,313 $2,970 2.72%
    $400k-600k 47 $21,125,000 $449,468 $4,973 2.85%

    2020 saw Cuso Mortgage Corporation place emphasis on $100k-200k loans with 839 originations, totaling $125,095,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 417 $68,525,000 $164,329 $3,628 2.84%
    $100k-150k 410 $91,160,000 $222,341 $3,850 2.75%
    $75k-100k 369 $68,565,000 $185,813 $3,697 2.77%
    $150k-250k 234 $58,200,000 $248,718 $3,765 2.75%
    $50k or less 233 $28,795,000 $123,584 $3,423 2.86%
    $250k+ 49 $16,495,000 $336,633 $3,815 2.72%

    Cuso Mortgage Corporation lent most frequently to those with incomes in the $50k-75k range, with 417 originations. The second most popular income band? $100k-150k, with 410 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 539 $104,095,000 $193,126 $3,573 2.77%
    30-36% 342 $67,510,000 $197,398 $3,866 2.82%
    <20% 255 $49,165,000 $192,804 $3,412 2.76%
    42% 57 $11,555,000 $202,719 $3,931 2.83%
    38% 57 $9,745,000 $170,965 $3,745 2.80%
    36% 54 $10,300,000 $190,741 $3,659 2.79%
    37% 53 $9,365,000 $176,698 $3,425 2.75%
    44% 53 $11,045,000 $208,396 $3,886 2.81%
    41% 47 $8,745,000 $186,064 $4,034 2.85%
    40% 47 $8,625,000 $183,511 $3,608 2.81%
    43% 41 $7,705,000 $187,927 $3,840 2.77%
    39% 39 $7,485,000 $191,923 $3,913 2.76%
    46% 34 $6,770,000 $199,118 $3,971 2.74%
    49% 25 $4,985,000 $199,400 $3,749 2.82%
    47% 23 $4,485,000 $195,000 $3,716 2.79%
    45% 22 $5,240,000 $238,182 $4,684 2.93%
    48% 20 $3,900,000 $195,000 $3,738 2.88%
    50-60% 5 $1,205,000 $241,000 $4,076 3.18%

    Cuso Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 539 originations. The next most common DTI ratio? 30-36%, with 342 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,539 $296,345,000 $192,557 $3,670 2.79%
    Not provided 143 $29,115,000 $203,601 $3,796 2.76%
    Asian 13 $2,805,000 $215,769 $3,902 3.00%
    Black 7 $1,575,000 $225,000 $5,093 3.13%
    American Indian 8 $1,430,000 $178,750 $4,336 2.98%
    Native Hawaiian or Islander 1 $335,000 $335,000 $3,360 3.00%
    Filipino 1 $195,000 $195,000 $2,866 3.00%
    Asian Indian 1 $125,000 $125,000 $4,656 2.75%

    Approval Rates

    Total approvals of all applications
    87.72%

    Cuso Mortgage Corporation has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.41%

    Cuso Mortgage Corporation has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,713 $331,925,000 $193,768

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 36 $3,780,000 $105,000
    Single Family (1-4 Units):Site-Built 1,677 $328,145,000 $195,674

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 100 $12,760,000 $127,600 $2,909 2.68%
    40-60% 425 $71,465,000 $168,153 $2,992 2.70%
    60-80% 888 $186,510,000 $210,034 $3,897 2.80%
    80-100% 296 $60,500,000 $204,392 $4,308 2.95%
    Over 100% 1 $495,000 $495,000 $14,535 3.00%
    Under 20% 3 $195,000 $65,000 $3,052 2.83%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Chesmar Homes Conventional home mortgage Closing on a mortgage 1 100.0%