Cliffco Mortgage Rates, Fees & Info

UNIONDALE, NY

LEI: 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.

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 7.05% 10/31/24
30 Year Conventional Refi 7.45% 10/31/24
30 Year Cash-out Refi 7.09% 10/31/24
30 Year FHA Purchase 7.39% 10/31/24
30 Year FHA Refi 7.56% 10/31/24
30 Year VA Purchase 6.18% 10/31/24
15 Year Conventional Purchase 6.12% 10/31/24
15 Year Conventional Refi 6.07% 10/31/24
15 Year Cash-out Refi 6.07% 10/31/24
15 Year FHA Refi 5.68% 10/31/24
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.

Cliffco Mortgage Calculator






Your Estimates

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

This is not an official calculator from Cliffco. 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

760

Origination Dollar Volume (All Markets)

$368,700,000

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%
Cliffco's top markets include New York, Poughkeepsie, Miami, Cape Coral, and Bridgeport among others.

Their top states include:
  • New York (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
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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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 603 $297,855,000 $493,955 $15,381 5.32%
    Refi 96 $44,110,000 $459,479 $15,614 4.75%
    Cash Out Refi 60 $26,250,000 $437,500 $13,257 5.29%
    Home Improvement 1 $485,000 $485,000 $10,345 3.50%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 738 $359,810,000 $487,547 $15,367 5.28%
    15 Year 10 $4,310,000 $431,000 $9,837 3.66%
    20 Year 7 $2,915,000 $416,429 $10,890 3.53%
    30+ year 3 $1,375,000 $458,333 $17,625 7.25%
    10 Year 2 $290,000 $145,000 $6,721 2.94%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 534 $272,560,000 $510,412
    $1k-2k 87 $39,655,000 $455,805
    $3k-4k 39 $13,435,000 $344,487
    $4k-5k 37 $11,685,000 $315,811
    $2k-3k 19 $6,815,000 $358,684
    $<1k 2 $570,000 $285,000

    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

    Loan Rate Originations Total Value Average Loan
    5-6% 206 $99,880,000 $484,854
    4-5% 173 $85,885,000 $496,445
    3-4% 167 $79,245,000 $474,521
    6-7% 113 $50,655,000 $448,274
    7-8% 48 $28,940,000 $602,917
    Over 8% 32 $15,030,000 $469,688
    2.5-3% 20 $8,650,000 $432,500
    <2.5% 1 $415,000 $415,000

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 325 $161,755,000 $497,708 $15,139 5.06%
    $200k-400k 229 $71,015,000 $310,109 $10,851 5.33%
    $600k-1MM 147 $107,065,000 $728,333 $22,028 5.42%
    $100k-200k 37 $5,945,000 $160,676 $7,432 5.17%
    $1MM+ 19 $22,645,000 $1,191,842 $38,979 6.13%
    $100,000 or less 3 $275,000 $91,667 $5,308 5.21%

    2022 saw Cliffco place emphasis on $400k-600k loans with 325 originations, totaling $161,755,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 221 $105,305,000 $476,493 $15,188 4.92%
    $150k-250k 209 $112,285,000 $537,249 $15,839 5.20%
    $75k-100k 112 $42,110,000 $375,982 $13,323 4.71%
    $250k+ 99 $66,575,000 $672,475 $19,031 5.97%
    $50k or less 62 $25,500,000 $411,290 $14,577 6.40%
    $50k-75k 52 $12,930,000 $248,654 $9,804 5.09%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 94 $47,640,000 $506,809 $13,408 5.15%
    20-30% 77 $36,825,000 $478,247 $12,506 5.10%
    49% 67 $31,075,000 $463,806 $15,579 4.94%
    50-60% 48 $25,840,000 $538,333 $24,309 4.70%
    44% 44 $21,810,000 $495,682 $15,425 5.10%
    48% 43 $22,185,000 $515,930 $17,922 5.21%
    47% 43 $18,375,000 $427,326 $12,775 5.29%
    45% 36 $15,750,000 $437,500 $12,464 5.04%
    43% 36 $18,600,000 $516,667 $15,352 5.39%
    46% 32 $16,130,000 $504,063 $16,202 4.94%
    42% 26 $11,700,000 $450,000 $14,592 5.34%
    40% 25 $11,975,000 $479,000 $14,690 4.72%
    36% 24 $12,780,000 $532,500 $15,819 5.28%
    39% 23 $11,005,000 $478,478 $14,629 5.23%
    38% 21 $9,645,000 $459,286 $14,110 5.39%
    41% 21 $10,535,000 $501,667 $13,368 5.15%
    37% 19 $8,675,000 $456,579 $12,721 4.99%
    <20% 18 $8,870,000 $492,778 $15,393 5.52%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 529 $245,275,000 $463,658 $14,100 5.14%
    Black 107 $57,025,000 $532,944 $18,564 5.10%
    Asian 69 $38,015,000 $550,942 $17,894 5.62%
    Not provided 51 $26,045,000 $510,686 $16,624 5.97%
    Asian Indian 3 $2,085,000 $695,000 $23,568 7.79%
    American Indian 1 $255,000 $255,000 $7,432 5.38%

    Approval Rates

    Total approvals of all applications
    94.94%

    Cliffco has an average approval rate.

    Pick Rate

    Approvals leading to origination
    53.95%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    760 $368,700,000 $485,132

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 24 $7,760,000 $323,333 $11,249 4.70%
    40-60% 68 $28,480,000 $418,824 $12,013 4.72%
    60-80% 297 $144,535,000 $486,650 $14,991 5.51%
    80-100% 365 $186,085,000 $509,822 $16,294 5.16%
    Over 100% 1 $515,000 $515,000 $12,617 5.88%
    Under 20% 4 $700,000 $175,000 $8,182 4.90%