Corning Mortgage Rates, Fees & Info

Corning, NY

LEI: 549300WK15ESCDNJ5M35

Tax ID: 16-6028994

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

Jump to:

Mortgage Data

Review & Overview

Corning is a smaller mortgage company specializing in Home Purchase and Refi loans. Corning has a high proportion of conventional loans. Their top markets by origination volume include: Corning, Elmira, Wilmington, Myrtle Beach, and Chambersburg among others. We have data for 84 markets. (Some data included below & more in-depth data is available with an active subscription.)

Corning 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. Corning 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.

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
Home Equity Line of Credit (HELOC) 6.27% 12/16/24
30 Year Conventional Purchase 6.17% 12/16/24
30 Year Conventional Refi 6.28% 12/16/24
30 Year Cash-out Refi 6.35% 12/16/24
30 Year VA Purchase 6.56% 12/16/24
15 Year Conventional Purchase 5.45% 12/16/24
15 Year Conventional Refi 5.63% 12/16/24
15 Year Cash-out Refi 5.63% 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.

Corning Mortgage Calculator






Your Estimates

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

This is not an official calculator from Corning. 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

1,639

Origination Dollar Volume (All Markets)

$151,655,000
Show all (7) awards

Top Markets

Hover a geography to see attributes.
  • >$0
  • $10mm
  • $25mm
  • $100mm
  • $250mm
  • $500mm
  • Leaflet | Map data © OpenStreetMap contributors| Map style: © OpenTopoMap (CC-BY-SA)

    Click or Hover to activate map

    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
    Corning, NY (FHA|USDA|VA) 467 $42,575,000 $91,167 $1,159 4.07%
    ELMIRA, NY (FHA|USDA|VA) 336 $27,340,000 $81,369 $995 4.12%
    WILMINGTON, NC (FHA|USDA|VA) 222 $23,100,000 $104,054 $1,032 3.83%
    Outside of Metro Areas 102 $9,090,000 $89,118 $1,015 4.13%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 92 $8,250,000 $89,674 $979 3.95%
    CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 109 $7,015,000 $64,358 $568 3.91%
    ROCHESTER, NY (FHA|USDA|VA) 35 $4,575,000 $130,714 $1,628 4.18%
    ITHACA, NY (FHA|USDA|VA) 19 $3,125,000 $164,474 $2,065 4.23%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 16 $3,000,000 $187,500 $2,773 3.75%
    RALEIGH-CARY, NC (FHA|USDA|VA) 20 $2,200,000 $110,000 $1,557 3.44%
    PITTSBURGH, PA (FHA|USDA|VA) 30 $1,680,000 $56,000 $402 3.65%
    Seneca Falls, NY (FHA|USDA|VA) 7 $1,435,000 $205,000 $1,578 3.64%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 7 $1,215,000 $173,571 $2,594 3.62%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 11 $855,000 $77,727 $490 3.66%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 11 $815,000 $74,091 $627 3.65%
    Auburn, NY (FHA|USDA|VA) 4 $670,000 $167,500 $1,233 4.59%
    SYRACUSE, NY (FHA|USDA|VA) 6 $610,000 $101,667 $2,140 3.85%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 3 $595,000 $198,333 $2,140 3.25%
    STATE COLLEGE, PA (FHA|USDA|VA) 9 $575,000 $63,889 $416 3.80%
    Key West, FL (FHA|USDA|VA) 1 $575,000 $575,000 $5,485 4.00%
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 4 $570,000 $142,500 $2,363 4.00%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 5 $565,000 $113,000 $752 3.92%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 5 $555,000 $111,000 $0 3.24%
    BINGHAMTON, NY (FHA|USDA|VA) 8 $520,000 $65,000 $758 3.88%
    Albemarle, NC (FHA|USDA|VA) 2 $510,000 $255,000 $1,941 3.62%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 3 $455,000 $151,667 $2,115 4.16%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 7 $455,000 $65,000 $0 3.28%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 3 $425,000 $141,667 $1,365 4.62%
    Boone, NC (FHA|USDA|VA) 3 $415,000 $138,333 $0 3.66%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 4 $380,000 $95,000 $2,072 4.94%
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 3 $375,000 $125,000 $0 2.82%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 4 $370,000 $92,500 $0 2.80%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $360,000 $180,000 $3,317 4.18%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 3 $335,000 $111,667 $2,580 4.29%
    COLUMBUS, OH (FHA|USDA|VA) 2 $330,000 $165,000 $0 2.99%
    JACKSONVILLE, NC (FHA|USDA|VA) 3 $315,000 $105,000 $1,161 5.21%
    RICHMOND, VA (FHA|USDA|VA) 1 $295,000 $295,000 $0 1.99%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 3 $285,000 $95,000 $0 3.57%
    Sayre, PA (FHA|USDA|VA) 6 $280,000 $46,667 $0 3.41%
    Morehead City, NC (FHA|USDA|VA) 2 $260,000 $130,000 $2,860 4.56%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 3 $255,000 $85,000 $0 2.82%
    UTICA-ROME, NY (FHA|USDA|VA) 2 $240,000 $120,000 $882 5.12%
    Huntingdon, PA (FHA|USDA|VA) 2 $230,000 $115,000 $2,612 4.44%
    THE VILLAGES, FL (FHA|USDA|VA) 1 $225,000 $225,000 $3,423 4.75%
    ASHEVILLE, NC (FHA|USDA|VA) 4 $210,000 $52,500 $495 3.77%
    GREENVILLE, NC (FHA|USDA|VA) 1 $205,000 $205,000 $3,763 4.75%
    Olean, NY (FHA|USDA|VA) 2 $200,000 $100,000 $0 3.24%
    Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) 3 $195,000 $65,000 $3,126 3.91%
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 1 $165,000 $165,000 $0 4.99%
    WINSTON-SALEM, NC (FHA|USDA|VA) 2 $160,000 $80,000 $0 2.49%
    Ogdensburg-Massena, NY (FHA|USDA|VA) 2 $160,000 $80,000 $1,152 3.68%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $155,000 $155,000 $0 2.99%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $125,000 $125,000 $0 4.49%
    JACKSONVILLE, FL (FHA|USDA|VA) 1 $125,000 $125,000 $2,537 4.00%
    Plattsburgh, NY (FHA|USDA|VA) 1 $125,000 $125,000 $0 1.99%
    HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $115,000 $115,000 $2,409 4.75%
    COLUMBIA, SC (FHA|USDA|VA) 1 $105,000 $105,000 $1,869 4.50%
    Shelby, NC (FHA|USDA|VA) 1 $105,000 $105,000 $2,659 4.63%
    Lock Haven, PA (FHA|USDA|VA) 2 $100,000 $50,000 $0 3.87%
    BOULDER, CO (FHA|USDA|VA) 1 $85,000 $85,000 $0 4.49%
    Oneonta, NY (FHA|USDA|VA) 1 $85,000 $85,000 $0 4.75%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 1 $85,000 $85,000 $0 3.24%
    LOUISVILLE, KY (FHA|USDA|VA) 1 $75,000 $75,000 $0 5.24%
    BECKLEY, WV (FHA|USDA|VA) 1 $75,000 $75,000 $0 5.24%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 2 $70,000 $35,000 $1,636 3.50%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $65,000 $65,000 $0 3.49%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $55,000 $55,000 $0 5.24%
    SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $55,000 $55,000 $0 2.99%
    WORCESTER, MA-CT (FHA|USDA|VA) 1 $55,000 $55,000 $0 3.24%
    OCALA, FL (FHA|USDA|VA) 2 $50,000 $25,000 $0 3.99%
    Washington, NC (FHA|USDA|VA) 1 $45,000 $45,000 $0 3.99%
    FAYETTEVILLE, NC (FHA|USDA|VA) 1 $45,000 $45,000 $0 1.99%
    Cortland, NY (FHA|USDA|VA) 1 $35,000 $35,000 $0 2.99%
    Pinehurst-Southern Pines, NC (FHA|USDA|VA) 1 $35,000 $35,000 $0 4.74%
    SALISBURY, MD-DE (FHA|USDA|VA) 1 $25,000 $25,000 $0 3.49%
    WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) 1 $25,000 $25,000 $0 2.99%
    WILLIAMSPORT, PA (FHA|USDA|VA) 1 $25,000 $25,000 $0 1.99%
    LYNCHBURG, VA (FHA|USDA|VA) 1 $25,000 $25,000 $0 4.99%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $25,000 $25,000 $0 3.24%
    Bradford, PA (FHA|USDA|VA) 1 $15,000 $15,000 $0 3.49%
    KNOXVILLE, TN (FHA|USDA|VA) 1 $15,000 $15,000 $0 4.74%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $15,000 $15,000 $0 3.24%
    ROANOKE, VA (FHA|USDA|VA) 1 $15,000 $15,000 $0 3.24%
    Meadville, PA (FHA|USDA|VA) 1 $5,000 $5,000 $0 1.99%
    Corning's top markets include Corning, Elmira, Wilmington, Myrtle Beach, and Chambersburg among others.

    Their top states include:
  • New York (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Similar Lenders

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

    PATRIOT
    Similarity Rank: 42
    Pittsford Federal Credit Union
    Similarity Rank: 44
    Chemung Canal Trust Company
    Similarity Rank: 119
    VISIONS
    Similarity Rank: 125
    ACNB Bank
    Similarity Rank: 144
    Five Star Bank
    Similarity Rank: 182
    USNY Bank
    Similarity Rank: 252
    Whitley Mortgage Associates, Inc.
    Similarity Rank: 258

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,306 $127,070,000 $97,297 $1,053 4.37%
    HELOC 327 $23,635,000 $72,278 n/a 2.42%
    VA 6 $950,000 $158,333 $3,723 4.90%

    For 2018, Corning's most frequently originated type of loan was Conventional, with 1,306 originations. Their 2nd most popular type was HELOC, with 327 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 548 $82,730,000 $150,967 $2,395 4.41%
    Refi 439 $35,835,000 $81,629 $238 4.00%
    Home Improvement 351 $15,245,000 $43,433 $28 3.54%
    Other 250 $10,190,000 $40,760 $44 3.56%
    Cash Out Refi 51 $7,655,000 $150,098 $2,952 4.47%

    For 2018, Corning's most frequently cited loan purpose was Home Purchase, with 548 originations. The 2nd most popular reason was Refi, with 439 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 571 $37,285,000 $65,298 $203 3.31%
    15 Year 425 $40,055,000 $94,247 $657 4.83%
    30 Year 301 $55,395,000 $184,037 $2,920 4.59%
    5 Year 253 $8,415,000 $33,261 $0 3.33%
    Other 44 $4,610,000 $104,773 $954 3.71%
    20 Year 41 $5,805,000 $141,585 $2,828 4.56%
    3 Year 4 $90,000 $22,500 $0 3.24%

    For 2018, Corning's most frequently cited loan duration was 10 Year, with 571 originations. The 2nd most popular length was 15 Year, with 425 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,076 $89,860,000 $83,513
    $1k-2k 95 $17,145,000 $180,474
    $2k-3k 26 $6,000,000 $230,769
    $3k-4k 9 $1,895,000 $210,556
    $4k-5k 4 $950,000 $237,500
    $5k+ 3 $1,445,000 $481,667

    Corning's average total fees were $2,920, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,076 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 732 $85,240,000 $116,448
    3-4% 362 $25,630,000 $70,801
    <2.5% 188 $13,350,000 $71,011
    5-6% 183 $15,145,000 $82,760
    2.5-3% 174 $12,290,000 $70,632

    During 2018, Corning's average interest rate for loans was 4.59%, while their most frequently originated rate bucket for loans was 4-5%, with 732 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,086 $48,650,000 $44,797 $313 3.86%
    $100k-200k 386 $53,060,000 $137,461 $2,016 4.20%
    $200k-400k 143 $37,515,000 $262,343 $3,131 4.32%
    $400k-600k 19 $8,735,000 $459,737 $3,179 4.10%
    $600k-1MM 5 $3,695,000 $739,000 $6,181 4.08%

    2018 saw Corning place emphasis on $100,000 or less loans with 1,086 originations, totaling $48,650,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 353 $34,045,000 $96,445 $1,105 3.88%
    $50k-75k 353 $24,625,000 $69,759 $912 4.13%
    $75k-100k 282 $26,340,000 $93,404 $1,089 4.04%
    $50k or less 280 $16,710,000 $59,679 $846 4.01%
    $150k-250k 210 $28,280,000 $134,667 $1,544 3.68%
    $250k+ 72 $12,260,000 $170,278 $1,434 3.64%

    Corning lent most frequently to those with incomes in the $100k-150k range, with 353 originations. The second most popular income band? $50k-75k, with 353 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 492 $42,910,000 $87,215 $1,113 3.90%
    30-36% 276 $23,940,000 $86,739 $1,028 3.98%
    <20% 199 $16,745,000 $84,146 $1,013 4.00%
    >60% 73 $7,385,000 $101,164 $657 3.62%
    50-60% 68 $7,300,000 $107,353 $688 3.76%
    39% 57 $4,605,000 $80,789 $906 3.88%
    40% 43 $4,245,000 $98,721 $1,328 4.21%
    38% 42 $4,800,000 $114,286 $1,040 4.14%
    41% 41 $3,735,000 $91,098 $1,107 3.82%
    37% 40 $3,850,000 $96,250 $1,031 3.90%
    36% 40 $3,700,000 $92,500 $699 4.28%
    43% 35 $3,215,000 $91,857 $1,304 3.77%
    44% 31 $3,895,000 $125,645 $1,722 4.05%
    42% 31 $2,485,000 $80,161 $933 3.98%
    45% 27 $2,765,000 $102,407 $1,298 4.08%
    47% 25 $2,965,000 $118,600 $1,549 4.35%
    46% 25 $2,415,000 $96,600 $948 3.64%
    48% 21 $2,045,000 $97,381 $1,331 4.00%
    49% 14 $1,230,000 $87,857 $739 3.86%

    Corning lent most frequently to those with DTI ratios of 20-30%, with 492 originations. The next most common DTI ratio? 30-36%, with 276 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,373 $119,565,000 $87,083 $974 3.95%
    Not provided 136 $16,810,000 $123,603 $1,651 3.96%
    Not applicable 50 $6,270,000 $125,400 $0 5.32%
    Asian 33 $4,855,000 $147,121 $2,016 3.63%
    Black 33 $2,935,000 $88,939 $1,230 3.94%
    American Indian 12 $1,070,000 $89,167 $1,396 3.83%
    Native Hawaiian or Islander 2 $150,000 $75,000 $775 4.50%

    Approval Rates

    Total approvals of all applications
    87.43%

    Corning has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.29%

    Corning has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,639 $151,655,000 $92,529

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $1,375,000 $275,000
    Single Family (1-4 Units):Manufactured 25 $1,195,000 $47,800
    Single Family (1-4 Units):Site-Built 1,609 $149,085,000 $92,657

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 358 $22,330,000 $62,374 $175 3.72%
    40-60% 199 $22,365,000 $112,387 $866 4.09%
    60-80% 361 $54,245,000 $150,263 $2,171 4.52%
    80-100% 226 $36,900,000 $163,274 $2,385 4.48%
    Over 100% 1 $325,000 $325,000 $8,937 4.00%
    Under 20% 490 $15,200,000 $31,020 $17 3.50%