Cliffco Mortgage Rates, Fees & Info
UNIONDALE, NYLEI: 549300HTMO7FGRKRLV06
Tax ID: 11-2975713
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Mortgage Data
Review & Overview
Cliffco is a smaller mortgage company specializing in Home Purchase loans. Cliffco has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: New York, Poughkeepsie, Miami, Cape Coral, and Bridgeport among others. We have data for 36 markets. (Some data included below & more in-depth data is available with an active subscription.)Cliffco has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Cliffco is typically a high 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 relatively high 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.05% | 12/4/23 |
| 30 Year Conventional Refi | 7.45% | 12/4/23 |
| 30 Year Cash-out Refi | 7.09% | 12/4/23 |
| 30 Year FHA Purchase | 7.39% | 12/4/23 |
| 30 Year FHA Refi | 7.56% | 12/4/23 |
| 30 Year VA Purchase | 6.18% | 12/4/23 |
| 15 Year Conventional Purchase | 6.12% | 12/4/23 |
| 15 Year Conventional Refi | 6.07% | 12/4/23 |
| 15 Year Cash-out Refi | 6.07% | 12/4/23 |
| 15 Year FHA Refi | 5.68% | 12/4/23 |
| 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. | ||
Cliffco Mortgage Calculator
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
760Origination Dollar Volume (All Markets)
$368,700,000Relative Rate
Cliffco's average 30 year fixed mortgage rate was
5.28%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.52%.
Relative Fees (Closing Costs)
Cliffco's average total fees/closing costs for a 30 year fixed rate
mortgage were $15,367.
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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 648 | $330,330,000 | $509,769 | $15,688 | 5.15% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 20 | $7,090,000 | $354,500 | $11,717 | 4.87% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 17 | $7,025,000 | $413,235 | $13,205 | 5.74% |
| Outside of Metro Areas | 8 | $2,170,000 | $271,250 | $10,896 | 4.81% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 4 | $1,840,000 | $460,000 | $17,848 | 6.19% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 5 | $1,635,000 | $327,000 | $11,419 | 5.23% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 5 | $1,555,000 | $311,000 | $11,344 | 6.20% |
| KINGSTON, NY (FHA|USDA|VA) | 5 | $1,495,000 | $299,000 | $13,262 | 6.48% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 4 | $1,450,000 | $362,500 | $15,451 | 5.19% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 5 | $1,135,000 | $227,000 | $9,709 | 6.48% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 2 | $970,000 | $485,000 | $15,395 | 6.56% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $960,000 | $480,000 | $18,433 | 8.19% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 3 | $795,000 | $265,000 | $11,462 | 5.58% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $760,000 | $380,000 | $13,987 | 5.56% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $735,000 | $735,000 | $0 | 7.13% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $715,000 | $715,000 | $19,389 | 7.25% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $675,000 | $675,000 | $22,443 | 6.88% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 2 | $660,000 | $330,000 | $6,822 | 4.69% |
| GLENS FALLS, NY (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $22,338 | 7.75% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 3 | $605,000 | $201,667 | $6,203 | 7.25% |
| Hudson, NY (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $7,652 | 5.31% |
| Torrington, CT (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $12,704 | 5.50% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $7,973 | 5.75% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $3,556 | 6.81% |
| Oneonta, NY (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $12,023 | 5.94% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $13,596 | 5.13% |
| READING, PA (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $10,964 | 6.00% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $20,756 | 5.50% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $7,565 | 6.63% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $14,466 | 7.00% |
| WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $12,303 | 6.13% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 7.88% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $11,505 | 7.25% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $11,494 | 6.25% |
| Amsterdam, NY (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $9,878 | 4.63% |
| BINGHAMTON, NY (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $9,090 | 8.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against CLIFFCO based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 640 | $306,100,000 | $478,281 | $13,628 | 5.34% |
| FHA | 112 | $58,690,000 | $524,018 | $23,816 | 4.72% |
| VA | 8 | $3,910,000 | $488,750 | $13,763 | 4.56% |
For 2022, Cliffco's most frequently originated type of loan was Conventional, with 640 originations. Their 2nd most popular type was FHA, with 112 originations.
Loan Reason
For 2022, Cliffco's most frequently cited loan purpose was Home Purchase, with 603 originations. The 2nd most popular reason was Refi, with 96 originations.
Loan Duration/Length
For 2022, Cliffco's most frequently cited loan duration was 30 Year, with 738 originations. The 2nd most popular length was 15 Year, with 10 originations.
Origination Fees/Closing Costs
Cliffco's average total fees were $15,367, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 534 originations.
Interest Rates
During 2022, Cliffco's average interest rate for loans was 5.28%, while their most frequently originated rate bucket for loans was 5-6%, with 206 originations.
Loan Sizing
2022 saw Cliffco place emphasis on $400k-600k loans with 325 originations, totaling $161,755,000 in origination value.
Applicant Income
Cliffco lent most frequently to those with incomes in the $100k-150k range, with 221 originations. The second most popular income band? $150k-250k, with 209 originations.
Applicant Debt to Income Ratio
Cliffco lent most frequently to those with DTI ratios of 30-36%, with 94 originations. The next most common DTI ratio? 20-30%, with 77 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.94%
Cliffco has an average approval rate.
Pick Rate
Approvals leading to origination53.95%
Cliffco has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 760 | $368,700,000 | $485,132 |