Corning Mortgage Rates, Fees & Info
Corning, NYLEI: 549300WK15ESCDNJ5M35
Tax ID: 16-6028994
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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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 4/21/24 |
| 30 Year Conventional Purchase | 6.17% | 4/21/24 |
| 30 Year Conventional Refi | 6.28% | 4/21/24 |
| 30 Year Cash-out Refi | 6.35% | 4/21/24 |
| 30 Year VA Purchase | 6.56% | 4/21/24 |
| 15 Year Conventional Purchase | 5.45% | 4/21/24 |
| 15 Year Conventional Refi | 5.63% | 4/21/24 |
| 15 Year Cash-out Refi | 5.63% | 4/21/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,639Origination Dollar Volume (All Markets)
$151,655,000Awards
CORNING - 2018
CORNING is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| 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% |
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.
Similarity Rank: 42
Similarity Rank: 44
Similarity Rank: 96
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Similarity Rank: 119
Similarity Rank: 125
Similarity Rank: 144
Similarity Rank: 182
Similarity Rank: 252
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
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
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
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
2018 saw Corning place emphasis on $100,000 or less loans with 1,086 originations, totaling $48,650,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications87.43%
Corning has an average approval rate.
Pick Rate
Approvals leading to origination80.29%
Corning has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,639 | $151,655,000 | $92,529 |