Cortland Mortgage Rates & Closing Costs

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    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Cortland averaged 6.27% for the week of 2024-11-14, compared to the national average of 6.78% for the same period.

    The average rate for the prior week (2024-11-07) was 6.58% and one month ago for the week of 2024-10-10, the average rate was 6.21%.

    Cortland's average rate one year ago was 6.99%.

    For refis of the same type during the week of 2024-11-14, the average rate was 6.88%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2024-11-14 6.78%
    Cortland 30 Year Fixed Rate 2024-11-14 6.27%
    Cortland 30 Year Fixed Rate Refi 2024-11-14 6.88%
    Cortland 15 Year Fixed Rate 2024-11-14 5.89%
    Cortland 15 Year Fixed Rate Refi 2024-11-14 6.09%
    Cortland 30 Year FHA 2024-11-14 0.1%
    Cortland 30 Year FHA Refi 2024-11-14 0.2%
    Cortland 30 Year USDA 2024-11-14 -0.1%
    Cortland 30 Year USDA Refi 2024-11-14 0.2%
    Cortland 30 Year VA 2024-11-14 0.1%
    Cortland 30 Year VA Refi 2024-11-14 -0.1%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Cortland, NY.

    Cortland Top Lenders by Rates & Fees

    The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the Cortland, NY market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    CFCU Community Credit Union 36 6.11% $229
    Tompkins Trust Company 32 6.32% $3,152
    PARAGON HOME LOANS INC. 27 6.49% $4,941
    QUICKEN LOANS, LLC 18 7.16% $5,802
    SEFCU SERVICES, LLC 7 5.02% $3,200
    M&T Bank 6 7.13% $4,277
    Community Bank 6 6.50% $1,409
    NBT Bank 5 6.25% $3,191
    JPMorgan Chase Bank 4 6.25% $4,014
    Farm Credit East, ACA 4 7.60% $4,835
    VISIONS 4 6.44% $3,110
    Empower Federal Credit Union 4 6.56% $2,336
    1ST PRIORITY MORTGAGE, INC. 3 7.08% $7,882
    Citizens Bank 3 6.29% $4,689
    Geddes Federal Savings and Loan Association 3 5.75% $4,557
    HOMESTEAD FUNDING CORP. 3 6.54% $7,706
    KeyBank 3 8.35% $2,748
    UNITED WHOLESALE MORTGAGE, LLC 3 6.25% $7,940
    ROYAL UNITED MORTGAGE LLC 2 7.56% $6,126
    MOVEMENT MORTGAGE, LLC 2 7.38% $7,501
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.38% $6,969
    Nations Lending Corporation 1 7.50% $5,808
    NAVY FEDERAL CREDIT UNION 1 8.25% $5,406
    CMG MORTGAGE, INC. 1 7.49% $6,955
    NEWREZ LLC 1 6.50% $5,422
    Barrington Bank & Trust Company, N.A. 1 7.38% $2,627
    PLAZA HOME MORTGAGE, INC. 1 6.25% $10,726
    Premium Mortgage Corporation 1 6.88% $5,785
    Bank of America 1 6.50% $9,666
    RELIANCE FIRST CAPITAL, LLC 1 6.88% $6,286
    ASSOCIATED MORTGAGE BANKERS, INC. 1 9.38% $5,520
    Five Star Bank 1 6.00% $5,076
    AMERICU Credit Union 1 5.50% $4,915
    Alternatives Federal Credit Union 1 6.75% $3,692
    USAA Federal Savings Bank 1 7.00% $4,627
    CROSSCOUNTRY MORTGAGE, LLC 1 6.25% $5,895
    Metro City Bank 1 7.13% $4,453
    CONTOUR MORTGAGE CORPORATION 1 6.75% $5,019

    Cortland Average Closing Costs & Other Stats

    Cortland, NY's 38 lenders originated 618 loans during 2023. The total origination value was $92,230,000, with an average loan value of $149,239.

    Cortland's average closing costs are $3,827.

    The top Cortland lender as defined by loan originations is CFCU Community Credit Union, with 36 loans originated. Their average total fees are $229, which is $2,923 lower than the next largest lender, Tompkins Trust Company.

    The lowest fee Cortland lenders (with over 10 loans originated) are CFCU Community Credit Union ($229), Tompkins Trust Company ($3,152), PARAGON HOME LOANS INC. ($4,941), QUICKEN LOANS, LLC ($5,802) and .

    The lowest rate Cortland lenders (with over 10 loans originated) are CFCU Community Credit Union (6.11%), Tompkins Trust Company (6.32%), PARAGON HOME LOANS INC. (6.49%), QUICKEN LOANS, LLC (7.16%) and .

    Cortland, NY Mortgage Market Share & Volume

    Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.

    Name 2022 Loan Value 2023 Loan Value % Change 2023 Market Share
    CFCU Community Credit Union $16,585,000 $17,565,000 5.9% 19.0%
    First National Bank of Dryden $10,110,000 n/a 11.0%
    Tompkins Trust Company $11,700,000 $8,290,000 -29.1% 9.0%
    PARAGON HOME LOANS INC. $11,640,000 $7,630,000 -34.5% 8.3%
    NBT Bank $13,435,000 $6,320,000 -53.0% 6.9%
    QUICKEN LOANS, LLC $8,000,000 $4,260,000 -46.8% 4.6%
    M&T Bank $3,585,000 $2,840,000 -20.8% 3.1%
    Community Bank $2,700,000 $2,195,000 -18.7% 2.4%
    Tioga State Bank $385,000 $2,125,000 451.9% 2.3%
    THE SUMMIT Federal Credit Union $1,400,000 $1,790,000 27.9% 1.9%
    SEFCU SERVICES, LLC $1,020,000 $1,765,000 73.0% 1.9%
    Citizens Bank $1,315,000 $1,640,000 24.7% 1.8%
    KeyBank $7,720,000 $1,285,000 -83.4% 1.4%
    1ST PRIORITY MORTGAGE, INC. $1,495,000 $1,270,000 -15.1% 1.4%
    Farm Credit East, ACA $320,000 $1,220,000 281.3% 1.3%
    HOMESTEAD FUNDING CORP. $1,010,000 $1,110,000 9.9% 1.2%
    Mortgage Research Center, LLC $1,130,000 $1,065,000 -5.8% 1.2%
    JPMorgan Chase Bank $560,000 $1,040,000 85.7% 1.1%
    UNITED WHOLESALE MORTGAGE, LLC $185,000 $1,030,000 456.8% 1.1%
    VISIONS $960,000 $930,000 -3.1% 1.0%
    Empower Federal Credit Union $1,445,000 $885,000 -38.8% 1.0%
    Geddes Federal Savings and Loan Association $870,000 $845,000 -2.9% 0.9%
    AMERICU Credit Union $2,060,000 $810,000 -60.7% 0.9%
    MOVEMENT MORTGAGE, LLC $1,020,000 $720,000 -29.4% 0.8%
    The First National Bank of Groton $675,000 n/a 0.7%
    PRIMELENDING, A PLAINSCAPITAL COMPANY $380,000 $635,000 67.1% 0.7%
    CROSSCOUNTRY MORTGAGE, LLC $595,000 n/a 0.6%
    USAA Federal Savings Bank $890,000 $495,000 -44.4% 0.5%
    PLAZA HOME MORTGAGE, INC. $530,000 $450,000 -15.1% 0.5%
    ROYAL UNITED MORTGAGE LLC $200,000 $410,000 105.0% 0.4%
    STATE EMPLOYEES FEDERAL CREDIT UNION $50,000 $410,000 720.0% 0.4%
    NAVY FEDERAL CREDIT UNION $985,000 $405,000 -58.9% 0.4%
    Chemung Canal Trust Company $1,560,000 $395,000 -74.7% 0.4%
    Barrington Bank & Trust Company, N.A. $525,000 $350,000 -33.3% 0.4%
    NORWICH COMMERCIAL GROUP, INC. $315,000 n/a 0.3%
    Five Star Bank $305,000 n/a 0.3%
    The Lyons National Bank $240,000 $290,000 20.8% 0.3%
    RELIANCE FIRST CAPITAL, LLC $270,000 n/a 0.3%
    NBKC BANK $255,000 n/a 0.3%
    LOANDEPOT.COM, LLC $760,000 $240,000 -68.4% 0.3%
    Mr. Cooper ( Nationstar Mortgage ) $240,000 $240,000 0.0% 0.3%
    CMG MORTGAGE, INC. $230,000 n/a 0.2%
    Genesee Regional Bank $220,000 $225,000 2.3% 0.2%
    Nations Lending Corporation $205,000 n/a 0.2%
    NORTHERN CREDIT UNION $205,000 n/a 0.2%
    Third Federal Savings and Loan Association of Cleveland $205,000 n/a 0.2%
    Alternatives Federal Credit Union $55,000 $195,000 254.5% 0.2%
    Bank of America $135,000 $195,000 44.4% 0.2%
    TOTAL MORTGAGE SERVICES, LLC $195,000 n/a 0.2%
    Premium Mortgage Corporation $1,300,000 $185,000 -85.8% 0.2%
    AMERICAN FINANCIAL RESOURCES, INC. $155,000 n/a 0.2%
    21ST MORTGAGE CORPORATION $485,000 $150,000 -69.1% 0.2%
    AMERICAN FINANCING CORPORATION $145,000 n/a 0.2%
    Seneca Savings $145,000 n/a 0.2%
    CONTOUR MORTGAGE CORPORATION $135,000 n/a 0.1%
    LENDINGHOME FUNDING CORPORATION $135,000 n/a 0.1%
    ASSOCIATED MORTGAGE BANKERS, INC. $125,000 n/a 0.1%
    FINANCE OF AMERICA REVERSE LLC $230,000 $125,000 -45.7% 0.1%
    LENDINGONE, LLC $105,000 $125,000 19.0% 0.1%
    Pathfinder Bank $125,000 n/a 0.1%
    Quontic Bank $165,000 $125,000 -24.2% 0.1%
    SIRVA MORTGAGE, INC. $125,000 n/a 0.1%
    Wells Fargo Bank $1,980,000 $120,000 -93.9% 0.1%
    LIMA ONE CAPITAL, LLC $115,000 n/a 0.1%
    NEWREZ LLC $125,000 $115,000 -8.0% 0.1%
    Ukrainian Federal Credit Union $115,000 $105,000 -8.7% 0.1%
    Discover Bank $100,000 n/a 0.1%
    Metro City Bank $105,000 $95,000 -9.5% 0.1%
    FARMERS INSURANCE GROUP FEDERAL CREDIT UNION $75,000 n/a 0.1%
    PNC Bank $320,000 $75,000 -76.6% 0.1%
    Webster Bank $75,000 n/a 0.1%
    UTILITIES EMPLOYEES CREDIT UNION $260,000 $55,000 -78.8% 0.1%
    Citizens & Northern Bank $5,000 n/a 0.0%

    Cortland's top lender by overall market share is CFCU Community Credit Union, with 19.0% market share. In second place, with 11.0%, is First National Bank of Dryden, having originated $10,110,000 in loans. In third place, with 9.0%, is Tompkins Trust Company, having originated $8,290,000 in loans. In fourth place, with 8.3%, is PARAGON HOME LOANS INC., having originated $7,630,000 in loans. In fifth place, with 6.9%, is NBT Bank, having originated $6,320,000 in loans.

    Cortland Housing Market Trends (Median, Average Prices & Listing Count)

    Realtor.com - Cortland (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $120,825 (-6.3%) $144,858 (-9.7%) 0.00 186
    2018-02-01 $119,900 (-4.1%) $143,806 (-8.7%) 0.00 183
    2018-03-01 $119,450 (-7.7%) $144,479 (-8.2%) 0.00 167
    2018-04-01 $118,125 (-9.1%) $144,116 (-14.5%) 0.00 181
    2018-05-01 $124,925 (-3.5%) $145,157 (-13.1%) 0.00 172
    2018-06-01 $126,750 (-10.9%) $154,132 (-11.2%) 0.00 185
    2018-07-01 $129,925 (-7.1%) $152,929 (-10.3%) 0.00 217
    2018-08-01 $127,300 (-5.7%) $149,587 (-10.1%) 0.00 209
    2018-09-01 $124,150 (-8.0%) $145,108 (-10.5%) 0.00 213
    2018-10-01 $120,000 (-4.7%) $146,143 (-6.3%) 0.00 213
    2018-11-01 $115,000 (-5.7%) $142,234 (-8.2%) 0.00 197
    2018-12-01 $109,500 (-8.7%) $135,389 (-12.0%) 0.00 185
    2019-01-01 $112,000 (-7.3%) $140,350 (-3.1%) 0.00 165
    2019-02-01 $99,900 (-16.7%) $136,250 (-5.3%) 0.00 155
    2019-03-01 $99,900 (-16.4%) $141,035 (-2.4%) 0.00 157
    2019-04-01 $99,900 (-15.4%) $145,640 (1.1%) 0.00 150
    2019-05-01 $120,350 (-3.7%) $148,446 (2.3%) 0.00 162
    2019-06-01 $129,900 (2.5%) $154,252 (0.1%) 0.00 182
    2019-07-01 $136,950 (5.4%) $168,466 (10.2%) 0.00 187
    2019-08-01 $131,582 (3.4%) $162,845 (8.9%) 0.00 184
    2019-09-01 $130,130 (4.8%) $156,254 (7.7%) 0.00 184
    2019-10-01 $129,611 (8.0%) $155,920 (6.7%) 0.00 182
    2019-11-01 $127,200 (10.6%) $158,693 (11.6%) 0.00 175
    2019-12-01 $118,700 (8.4%) $156,026 (15.2%) 0.00 152
    2020-01-01 $117,450 (4.9%) $157,482 (12.2%) 0.00 140
    2020-02-01 $129,000 (29.1%) $169,355 (24.3%) 0.00 139
    2020-03-01 $131,150 (31.3%) $168,594 (19.5%) 0.00 135
    2020-04-01 $132,400 (32.5%) $172,337 (18.3%) 0.00 126
    2020-05-01 $134,900 (12.1%) $168,775 (13.7%) 0.00 124
    2020-06-01 $150,700 (16.0%) $175,389 (13.7%) 0.00 134
    2020-07-01 $149,225 (9.0%) $170,304 (1.1%) 0.00 131
    2020-08-01 $147,450 (12.1%) $180,436 (10.8%) 0.00 122
    2020-09-01 $134,950 (3.7%) $169,870 (8.7%) 0.00 119
    2020-10-01 $127,900 (-1.3%) $173,457 (11.3%) 0.00 114
    2020-11-01 $152,200 (19.7%) $186,143 (17.3%) 0.00 100
    2020-12-01 $169,450 (42.8%) $221,959 (42.3%) 0.00 81
    2021-01-01 $154,450 (31.5%) $228,398 (45.0%) 0.00 74
    2021-02-01 $149,900 (16.2%) $229,052 (35.3%) 0.00 71
    2021-03-01 $149,800 (14.2%) $233,183 (38.3%) 0.00 64
    2021-04-01 $162,125 (22.5%) $192,865 (11.9%) 0.00 62
    2021-05-01 $176,200 (30.6%) $195,955 (16.1%) 0.00 61
    2021-06-01 $175,525 (16.5%) $202,031 (15.2%) 0.00 62
    2021-07-01 $173,000 (15.9%) $197,174 (15.8%) 0.00 74
    2021-08-01 $153,675 (4.2%) $207,136 (14.8%) 0.00 78
    2021-09-01 $157,175 (16.5%) $226,382 (33.3%) 0.00 75
    2021-10-01 $160,000 (25.1%) $248,535 (43.3%) 0.00 67
    2021-11-01 $189,675 (24.6%) $250,122 (34.4%) 0.00 63
    2021-12-01 $195,725 (15.5%) $277,186 (24.9%) 0.00 57
    2022-01-01 $179,950 (16.5%) $255,915 (12.1%) 0.00 48
    2022-02-01 $179,975 (20.1%) $258,254 (12.8%) 0.00 48
    2022-03-01 $180,950 (20.8%) $247,195 (6.0%) 0.00 53
    2022-04-01 $174,950 (7.9%) $240,884 (24.9%) 0.00 53
    2022-05-01 $189,875 (7.8%) $238,548 (21.7%) 0.00 46
    2022-06-01 $200,000 (13.9%) $262,968 (30.2%) 0.00 44
    2022-07-01 $194,900 (12.7%) $258,940 (31.3%) 0.00 46
    2022-08-01 $182,175 (18.6%) $208,536 (0.7%) 0.00 58
    2022-09-01 $172,450 (9.7%) $210,755 (-6.9%) 0.00 56
    2022-10-01 $179,500 (12.2%) $213,308 (-14.2%) 0.00 62
    2022-11-01 $210,675 (11.1%) $224,234 (-10.4%) 0.00 59
    2022-12-01 $177,900 (-9.1%) $207,274 (-25.2%) 0.00 56
    2023-01-01 $144,450 (-19.7%) $193,796 (-24.3%) 0.00 45
    2023-02-01 $142,150 (-21.0%) $198,622 (-23.1%) 0.00 38
    2023-03-01 $132,225 (-26.9%) $187,584 (-24.1%) 0.00 43
    2023-04-01 $162,400 (-7.2%) $205,662 (-14.6%) 0.00 40
    2023-05-01 $159,250 (-16.1%) $198,248 (-16.9%) 0.00 46
    2023-06-01 $169,925 (-15.0%) $213,059 (-19.0%) 0.00 48
    2023-07-01 $189,450 (-2.8%) $238,524 (-7.9%) 0.00 52
    2023-08-01 $205,000 (12.5%) $255,905 (22.7%) 0.00 59
    2023-09-01 $239,000 (38.6%) $288,568 (36.9%) 0.00 57
    2023-10-01 $229,000 (27.6%) $285,754 (34.0%) 0.00 56
    2023-11-01 $180,000 (-14.6%) $251,728 (12.3%) 0.00 53
    2023-12-01 $179,900 (1.1%) $259,306 (25.1%) 0.00 47
    2024-01-01 $191,000 (32.2%) $224,265 (15.7%) 0.00 43
    2024-02-01 $171,225 (20.5%) $200,066 (0.7%) 0.00 38
    2024-03-01 $185,900 (40.6%) $201,832 (7.6%) 0.00 34
    2024-04-01 $223,225 (37.5%) $248,119 (20.6%) 0.00 30
    2024-05-01 $220,750 (38.6%) $253,323 (27.8%) 0.00 41
    2024-06-01 $204,900 (20.6%) $279,357 (31.1%) 0.00 38
    2024-07-01 $189,450 (0.0%) $256,240 (7.4%) 0.00 45
    2024-08-01 $179,900 (-12.2%) $260,455 (1.8%) 0.00 44
    2024-09-01 $184,950 (-22.6%) $254,642 (-11.8%) 0.00 41
    2024-10-01 $191,500 (-16.4%) $261,367 (-8.5%) 0.00 43
    Cortland's median listing price for 2024-10-01 was $191,500, a difference of $-37,500 (-16.4%) versus the prior year and $6,550 versus the prior month.

    Cortland's median listing price comes in at 0% of the national average.

    Cortland's average listing price for 2024-10-01 was $261,367, a difference of $-24,387 (-8.5%) versus the prior year and $6,725 versus the prior month.

    For the 2024-10-01 period, Cortland had 43 MLS listings, a difference of 2 listings (5%) versus the prior month and -13 listings (-23%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Cortland (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,493 sqft
    2018-02-01 0 days 1,476 sqft
    2018-03-01 0 days 1,470 sqft
    2018-04-01 0 days 1,476 sqft
    2018-05-01 0 days 1,471 sqft
    2018-06-01 0 days 1,518 sqft
    2018-07-01 0 days 1,557 sqft
    2018-08-01 0 days 1,520 sqft
    2018-09-01 0 days 1,460 sqft
    2018-10-01 0 days 1,456 sqft
    2018-11-01 0 days 1,420 sqft
    2018-12-01 0 days 1,320 sqft
    2019-01-01 0 days 1,335 sqft
    2019-02-01 0 days 1,354 sqft
    2019-03-01 0 days 1,375 sqft
    2019-04-01 0 days 1,360 sqft
    2019-05-01 0 days 1,426 sqft
    2019-06-01 0 days 1,489 sqft
    2019-07-01 0 days 1,488 sqft
    2019-08-01 0 days 1,485 sqft
    2019-09-01 0 days 1,518 sqft
    2019-10-01 0 days 1,538 sqft
    2019-11-01 0 days 1,534 sqft
    2019-12-01 0 days 1,429 sqft
    2020-01-01 0 days 1,443 sqft
    2020-02-01 0 days 1,512 sqft
    2020-03-01 0 days 1,495 sqft
    2020-04-01 0 days 1,414 sqft
    2020-05-01 0 days 1,440 sqft
    2020-06-01 0 days 1,537 sqft
    2020-07-01 0 days 1,600 sqft
    2020-08-01 0 days 1,579 sqft
    2020-09-01 0 days 1,574 sqft
    2020-10-01 0 days 1,520 sqft
    2020-11-01 0 days 1,627 sqft
    2020-12-01 0 days 1,697 sqft
    2021-01-01 0 days 1,761 sqft
    2021-02-01 0 days 1,733 sqft
    2021-03-01 0 days 1,671 sqft
    2021-04-01 0 days 1,690 sqft
    2021-05-01 0 days 1,680 sqft
    2021-06-01 0 days 1,579 sqft
    2021-07-01 0 days 1,645 sqft
    2021-08-01 0 days 1,663 sqft
    2021-09-01 0 days 1,656 sqft
    2021-10-01 0 days 1,730 sqft
    2021-11-01 0 days 1,632 sqft
    2021-12-01 0 days 1,730 sqft
    2022-01-01 0 days 1,730 sqft
    2022-02-01 0 days 1,737 sqft
    2022-03-01 0 days 1,692 sqft
    2022-04-01 0 days 1,717 sqft
    2022-05-01 0 days 1,705 sqft
    2022-06-01 0 days 1,667 sqft
    2022-07-01 0 days 1,728 sqft
    2022-08-01 0 days 1,649 sqft
    2022-09-01 0 days 1,652 sqft
    2022-10-01 0 days 1,657 sqft
    2022-11-01 0 days 1,696 sqft
    2022-12-01 0 days 1,666 sqft
    2023-01-01 0 days 1,636 sqft
    2023-02-01 0 days 1,366 sqft
    2023-03-01 0 days 1,533 sqft
    2023-04-01 0 days 1,626 sqft
    2023-05-01 0 days 1,424 sqft
    2023-06-01 0 days 1,476 sqft
    2023-07-01 0 days 1,565 sqft
    2023-08-01 0 days 1,539 sqft
    2023-09-01 0 days 1,716 sqft
    2023-10-01 0 days 1,705 sqft
    2023-11-01 0 days 1,676 sqft
    2023-12-01 0 days 1,687 sqft
    2024-01-01 0 days 1,677 sqft
    2024-02-01 0 days 1,602 sqft
    2024-03-01 0 days 1,572 sqft
    2024-04-01 0 days 1,754 sqft
    2024-05-01 0 days 1,885 sqft
    2024-06-01 0 days 1,688 sqft
    2024-07-01 0 days 1,502 sqft
    2024-08-01 0 days 1,504 sqft
    2024-09-01 0 days 1,407 sqft
    2024-10-01 0 days 1,470 sqft
    Cortland's median listing age (time on market) for 2024-10-01 was 0 days.

    Cortland's median square footage for active listings during the 2024-10-01 period was 1,470 sqft. One year prior, the average listing was 1,705 sqft.

    Cortland, NY Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 319 $61,995,000 $194,342
    Refi 93 $13,435,000 $144,462
    Home Improvement 89 $6,245,000 $70,169
    Other 80 $5,660,000 $70,750
    Cash Out Refi 37 $4,895,000 $132,297

    Cortland's most frequently cited loan purpose was Home Purchase, with 319 originations. The 2nd most popular reason was Refi, with 93 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    6-7% 215 $35,105,000 $163,279
    5-6% 104 $16,490,000 $158,558
    7-8% 89 $12,775,000 $143,539
    Over 8% 55 $5,275,000 $95,909
    <2.5% 43 $2,955,000 $68,721
    3-4% 23 $2,345,000 $101,957
    4-5% 8 $1,760,000 $220,000

    During 2023, Cortland's most frequently originated rate bucket was 6-7%, with 215 originations.

    Loan Sizing (Cortland, NY MSA)

    Loan Size Originations Total Value Average Loan
    $100k-200k 270 $38,980,000 $144,370
    $100,000 or less 234 $12,910,000 $55,171
    $200k-400k 97 $26,765,000 $275,928
    $400k-600k 8 $3,930,000 $491,250
    $Over $1MM 5 $6,325,000 $1,265,000
    $600k-1000k 4 $3,320,000 $830,000

    Cortland's loan sizing saw the bucket of loans from $100k-200k with 270 originations, totaling $38,980,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 203 $39,505,000 $194,606
    60-80% 120 $20,500,000 $170,833
    20-40% 85 $5,475,000 $64,412
    Under 20% 62 $3,060,000 $49,355
    40-60% 60 $6,970,000 $116,167
    Over 100% 3 $705,000 $235,000

    Cortland's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 203 originations, totaling $39,505,000 in origination value.