Corning Mortgage Rates, Fees & Info

Corning, NY

LEI: 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: Wilmington, Corning, Elmira, Myrtle Beach, and Chambersburg among others. We have data for 101 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% 3/28/24
30 Year Conventional Purchase 6.17% 3/28/24
30 Year Conventional Refi 6.28% 3/28/24
30 Year Cash-out Refi 6.35% 3/28/24
30 Year VA Purchase 6.56% 3/28/24
15 Year Conventional Purchase 5.45% 3/28/24
15 Year Conventional Refi 5.63% 3/28/24
15 Year Cash-out Refi 5.63% 3/28/24
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

2,169

Origination Dollar Volume (All Markets)

$231,975,000
Show all (9) 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
WILMINGTON, NC (FHA|USDA|VA) 429 $58,515,000 $136,399 $1,729 3.47%
Corning, NY (FHA|USDA|VA) 563 $52,535,000 $93,313 $1,240 3.70%
ELMIRA, NY (FHA|USDA|VA) 354 $29,880,000 $84,407 $1,163 3.82%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 137 $16,495,000 $120,401 $1,608 3.47%
Outside of Metro Areas 140 $12,710,000 $90,786 $1,153 3.80%
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 124 $9,780,000 $78,871 $923 3.55%
ROCHESTER, NY (FHA|USDA|VA) 37 $5,475,000 $147,973 $2,004 3.28%
RALEIGH-CARY, NC (FHA|USDA|VA) 23 $3,775,000 $164,130 $2,077 3.48%
PITTSBURGH, PA (FHA|USDA|VA) 39 $2,915,000 $74,744 $1,414 3.74%
ITHACA, NY (FHA|USDA|VA) 16 $2,910,000 $181,875 $1,045 4.41%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 16 $2,760,000 $172,500 $2,160 3.26%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 22 $2,470,000 $112,273 $1,449 3.93%
Sayre, PA (FHA|USDA|VA) 26 $2,220,000 $85,385 $1,278 3.67%
STATE COLLEGE, PA (FHA|USDA|VA) 18 $1,940,000 $107,778 $1,098 3.75%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 15 $1,935,000 $129,000 $2,287 3.28%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 11 $1,445,000 $131,364 $1,898 3.52%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 4 $1,140,000 $285,000 $5,518 2.75%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 10 $1,140,000 $114,000 $1,948 3.77%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 5 $1,135,000 $227,000 $3,415 3.87%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 8 $1,130,000 $141,250 $2,034 4.36%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 5 $995,000 $199,000 $5,321 2.95%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 8 $900,000 $112,500 $951 3.71%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 6 $880,000 $146,667 $2,040 2.95%
SYRACUSE, NY (FHA|USDA|VA) 9 $785,000 $87,222 $2,166 3.45%
JACKSONVILLE, NC (FHA|USDA|VA) 6 $730,000 $121,667 $2,099 4.12%
WINSTON-SALEM, NC (FHA|USDA|VA) 3 $635,000 $211,667 $3,094 4.08%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 3 $595,000 $198,333 $1,396 3.66%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 5 $575,000 $115,000 $1,332 3.32%
ASHEVILLE, NC (FHA|USDA|VA) 2 $540,000 $270,000 $2,987 3.88%
BINGHAMTON, NY (FHA|USDA|VA) 7 $525,000 $75,000 $1,294 3.60%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 8 $510,000 $63,750 $400 3.63%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 2 $470,000 $235,000 $0 1.99%
Auburn, NY (FHA|USDA|VA) 4 $470,000 $117,500 $3,727 3.00%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 2 $420,000 $210,000 $2,819 3.94%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $415,000 $415,000 $2,413 3.38%
Somerset, PA (FHA|USDA|VA) 1 $395,000 $395,000 $7,209 3.75%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 3 $375,000 $125,000 $2,689 3.25%
COLUMBUS, OH (FHA|USDA|VA) 1 $375,000 $375,000 $2,595 3.75%
Boone, NC (FHA|USDA|VA) 2 $370,000 $185,000 $2,072 3.81%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 2 $350,000 $175,000 $2,840 3.81%
DuBois, PA (FHA|USDA|VA) 5 $345,000 $69,000 $1,432 3.67%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 1 $335,000 $335,000 $7,681 3.50%
Hudson, NY (FHA|USDA|VA) 2 $310,000 $155,000 $3,060 4.25%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 3 $285,000 $95,000 $0 2.99%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 2 $270,000 $135,000 $1,150 4.68%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $265,000 $265,000 $3,792 4.75%
Lock Haven, PA (FHA|USDA|VA) 4 $260,000 $65,000 $851 3.52%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 2 $260,000 $130,000 $0 2.49%
Seneca Falls, NY (FHA|USDA|VA) 1 $255,000 $255,000 $3,868 4.00%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 3 $255,000 $85,000 $1,646 3.83%
JACKSONVILLE, FL (FHA|USDA|VA) 3 $245,000 $81,667 $745 4.37%
WILLIAMSPORT, PA (FHA|USDA|VA) 3 $235,000 $78,333 $775 5.12%
SPRINGFIELD, MA (FHA|USDA|VA) 3 $225,000 $75,000 $0 3.57%
LANCASTER, PA (FHA|USDA|VA) 1 $225,000 $225,000 $5,303 3.00%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 2 $220,000 $110,000 $0 4.37%
READING, PA (FHA|USDA|VA) 1 $215,000 $215,000 $5,540 3.75%
SALISBURY, MD-DE (FHA|USDA|VA) 1 $215,000 $215,000 $2,761 3.00%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $205,000 $205,000 $0 1.99%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 1 $195,000 $195,000 $4,497 3.75%
Rockingham, NC (FHA|USDA|VA) 1 $195,000 $195,000 $2,078 4.25%
Cortland, NY (FHA|USDA|VA) 1 $195,000 $195,000 $3,369 3.75%
SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $185,000 $185,000 $3,592 4.38%
Albemarle, NC (FHA|USDA|VA) 3 $165,000 $55,000 $1,096 4.12%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $160,000 $80,000 $0 3.49%
CANTON-MASSILLON, OH (FHA|USDA|VA) 2 $160,000 $80,000 $0 1.99%
LEBANON, PA (FHA|USDA|VA) 1 $155,000 $155,000 $2,295 3.13%
Huntingdon, PA (FHA|USDA|VA) 3 $145,000 $48,333 $0 2.99%
GETTYSBURG, PA (FHA|USDA|VA) 1 $135,000 $135,000 $1,930 3.63%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 1 $125,000 $125,000 $0 1.99%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $105,000 $105,000 $0 1.99%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 1 $105,000 $105,000 $1,850 3.38%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $105,000 $105,000 $0 1.99%
THE VILLAGES, FL (FHA|USDA|VA) 1 $105,000 $105,000 $2,224 3.00%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $105,000 $105,000 $0 1.99%
ALTOONA, PA (FHA|USDA|VA) 1 $105,000 $105,000 $0 3.24%
GREENVILLE, NC (FHA|USDA|VA) 1 $95,000 $95,000 $2,549 3.88%
Ogdensburg-Massena, NY (FHA|USDA|VA) 2 $90,000 $45,000 $0 4.99%
Batavia, NY (FHA|USDA|VA) 1 $85,000 $85,000 $1,838 3.13%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $80,000 $40,000 $0 2.99%
WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) 1 $75,000 $75,000 $0 3.74%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 2 $70,000 $35,000 $0 5.24%
GLENS FALLS, NY (FHA|USDA|VA) 1 $65,000 $65,000 $0 4.50%
Danville, KY (FHA|USDA|VA) 1 $65,000 $65,000 $0 1.99%
Malone, NY (FHA|USDA|VA) 1 $65,000 $65,000 $3,532 4.38%
NEW BERN, NC (FHA|USDA|VA) 1 $65,000 $65,000 $0 1.99%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $55,000 $55,000 $0 1.99%
FAYETTEVILLE, NC (FHA|USDA|VA) 1 $45,000 $45,000 $0 5.24%
OCALA, FL (FHA|USDA|VA) 1 $45,000 $45,000 $0 5.49%
BURLINGTON, NC (FHA|USDA|VA) 1 $35,000 $35,000 $0 1.99%
Oneonta, NY (FHA|USDA|VA) 1 $35,000 $35,000 $0 3.50%
DOVER, DE (FHA|USDA|VA) 1 $35,000 $35,000 $0 1.99%
ROANOKE, VA (FHA|USDA|VA) 1 $35,000 $35,000 $0 5.49%
WINCHESTER, VA-WV (FHA|USDA|VA) 1 $35,000 $35,000 $0 3.99%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $35,000 $35,000 $0 3.74%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $35,000 $35,000 $0 4.49%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $35,000 $35,000 $0 4.25%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $25,000 $25,000 $0 4.50%
Cullowhee, NC (FHA|USDA|VA) 1 $25,000 $25,000 $0 1.99%
KNOXVILLE, TN (FHA|USDA|VA) 1 $25,000 $25,000 $0 4.60%
Olean, NY (FHA|USDA|VA) 2 $20,000 $10,000 $0 3.50%
Morehead City, NC (FHA|USDA|VA) 1 $15,000 $15,000 $0 3.74%
Corning's top markets include Wilmington, Corning, Elmira, 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)
  • Maryland (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.

    Pittsford Federal Credit Union
    Similarity Rank: 36
    ACNB Bank
    Similarity Rank: 96
    EXCITE Credit Union
    Similarity Rank: 114
    ESL Federal Credit Union
    Similarity Rank: 125
    THE SUMMIT Federal Credit Union
    Similarity Rank: 195
    PATRIOT
    Similarity Rank: 204
    Elmira Savings Bank
    Similarity Rank: 264
    Chemung Canal Trust Company
    Similarity Rank: 276

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,695 $199,235,000 $117,543 $1,410 4.06%
    HELOC 474 $32,740,000 $69,072 n/a 2.13%

    For 2019, Corning's most frequently originated type of loan was Conventional, with 1,695 originations. Their 2nd most popular type was HELOC, with 474 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 638 $104,950,000 $164,498 $2,553 3.90%
    Refi 625 $65,475,000 $104,760 $803 3.67%
    Home Improvement 404 $17,040,000 $42,178 $14 3.43%
    Other 357 $16,285,000 $45,616 $10 3.41%
    Cash Out Refi 145 $28,225,000 $194,655 $3,467 3.53%

    For 2019, Corning's most frequently cited loan purpose was Home Purchase, with 638 originations. The 2nd most popular reason was Refi, with 625 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 823 $54,025,000 $65,644 $214 3.09%
    15 Year 504 $59,690,000 $118,433 $1,216 4.23%
    30 Year 498 $96,820,000 $194,418 $2,990 3.92%
    5 Year 245 $9,255,000 $37,776 $0 3.60%
    20 Year 63 $10,285,000 $163,254 $2,880 3.79%
    Other 28 $1,500,000 $53,571 $61 4.11%
    3 Year 8 $400,000 $50,000 $0 3.99%

    For 2019, Corning's most frequently cited loan duration was 10 Year, with 823 originations. The 2nd most popular length was 15 Year, with 504 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,352 $128,720,000 $95,207
    $1k-2k 171 $35,135,000 $205,468
    $2k-3k 45 $11,205,000 $249,000
    $3k-4k 27 $7,175,000 $265,741
    $4k-5k 10 $4,600,000 $460,000
    $5k+ 7 $2,395,000 $342,143

    Corning's average total fees were $2,990, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,352 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 944 $125,570,000 $133,019
    4-5% 511 $46,455,000 $90,910
    <2.5% 444 $30,340,000 $68,333
    5-6% 147 $10,505,000 $71,463
    2.5-3% 113 $18,545,000 $164,115
    6-7% 8 $320,000 $40,000
    7-8% 2 $240,000 $120,000

    During 2019, Corning's average interest rate for loans was 3.92%, while their most frequently originated rate bucket for loans was 3-4%, with 944 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,302 $59,100,000 $45,392 $394 3.67%
    $100k-200k 542 $75,540,000 $139,373 $2,082 3.58%
    $200k-400k 289 $77,525,000 $268,253 $3,408 3.64%
    $400k-600k 30 $13,920,000 $464,000 $4,239 3.56%
    $600k-1MM 5 $4,185,000 $837,000 $2,976 3.70%
    $1MM+ 1 $1,705,000 $1,705,000 $7,813 3.38%

    2019 saw Corning place emphasis on $100,000 or less loans with 1,302 originations, totaling $59,100,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 501 $40,355,000 $80,549 $1,237 3.70%
    $100k-150k 486 $59,720,000 $122,881 $1,705 3.56%
    $75k-100k 397 $39,875,000 $100,441 $1,422 3.71%
    $50k or less 325 $19,705,000 $60,631 $795 3.81%
    $150k-250k 301 $44,115,000 $146,561 $1,867 3.38%
    $250k+ 79 $18,305,000 $231,709 $2,302 3.21%

    Corning lent most frequently to those with incomes in the $50k-75k range, with 501 originations. The second most popular income band? $100k-150k, with 486 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 657 $65,975,000 $100,419 $1,468 3.59%
    30-36% 391 $40,395,000 $103,312 $1,421 3.67%
    <20% 283 $32,255,000 $113,975 $1,558 3.50%
    >60% 110 $12,360,000 $112,364 $663 3.41%
    50-60% 107 $11,325,000 $105,841 $916 3.45%
    39% 68 $7,790,000 $114,559 $1,672 3.49%
    38% 57 $7,145,000 $125,351 $1,714 3.51%
    37% 53 $5,335,000 $100,660 $1,253 3.90%
    36% 52 $5,670,000 $109,038 $1,040 3.80%
    42% 52 $7,450,000 $143,269 $2,218 3.56%
    40% 48 $6,220,000 $129,583 $1,987 3.60%
    44% 46 $3,910,000 $85,000 $1,172 3.72%
    41% 44 $3,910,000 $88,864 $1,191 3.84%
    43% 40 $4,980,000 $124,500 $1,788 4.14%
    45% 39 $3,555,000 $91,154 $1,085 3.68%
    49% 21 $1,515,000 $72,143 $532 3.60%
    47% 20 $1,650,000 $82,500 $1,136 3.52%
    46% 20 $2,280,000 $114,000 $1,184 3.80%
    48% 19 $1,815,000 $95,526 $587 3.83%

    Corning lent most frequently to those with DTI ratios of 20-30%, with 657 originations. The next most common DTI ratio? 30-36%, with 391 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,854 $192,410,000 $103,781 $1,377 3.62%
    Not provided 190 $23,430,000 $123,316 $1,534 3.55%
    Asian 41 $6,545,000 $159,634 $2,369 3.45%
    Not applicable 30 $4,990,000 $166,333 $6,269 5.29%
    Black 43 $3,505,000 $81,512 $991 3.69%
    American Indian 8 $400,000 $50,000 $1,737 4.17%
    Asian Indian 2 $370,000 $185,000 $2,114 3.75%
    Chinese 1 $325,000 $325,000 $4,040 3.25%

    Approval Rates

    Total approvals of all applications
    89.31%

    Corning has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.82%

    Corning has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,169 $231,975,000 $106,950

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $2,075,000 $415,000
    Single Family (1-4 Units):Manufactured 28 $1,490,000 $53,214
    Single Family (1-4 Units):Site-Built 2,136 $228,410,000 $106,934

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 432 $27,780,000 $64,306 $261 3.62%
    40-60% 291 $36,955,000 $126,993 $1,283 3.63%
    60-80% 442 $78,130,000 $176,765 $2,542 3.75%
    80-100% 392 $69,100,000 $176,276 $2,598 3.90%
    Under 20% 610 $19,870,000 $32,574 $6 3.41%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Crown Mortgage Co. Conventional home mortgage Trouble during payment process 1 50.0%
    Crown Mortgage Co. FHA mortgage Struggling to pay mortgage 1 50.0%