Diamond Credit Union Mortgage Rates, Fees & Info

Pottstown, PA

LEI: 25490053H6JWQDX4RM47

Tax ID: 23-1320654

5 stars - Updated: 12/6/24 - out of 5 stars, based on 31 reviews

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

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Mortgage Data

Review & Overview

Diamond Credit Union is a smaller credit union specializing in Home Improvement, Refi, and Home Purchase loans. Diamond Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Reading, Philadelphia, Pottsville, Lancaster, and Scranton among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)

Diamond Credit Union 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. Diamond Credit Union 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 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
Home Equity Line of Credit (HELOC) 3.39% 12/6/24
30 Year Conventional Purchase 6.72% 12/6/24
30 Year Conventional Refi 6.45% 12/6/24
30 Year Cash-out Refi 6.76% 12/6/24
15 Year Conventional Purchase 6.15% 12/6/24
15 Year Conventional Refi 6.22% 12/6/24
15 Year Cash-out Refi 6.22% 12/6/24
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.

Diamond Credit Union Mortgage Calculator






Your Estimates

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

This is not an official calculator from Diamond Credit Union. 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

983

Origination Dollar Volume (All Markets)

$86,685,000

Relative Rate

Diamond Credit Union's average 30 year fixed mortgage rate was 6.74%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.26%.

Relative Fees (Closing Costs)

Diamond Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $4,602.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
READING, PA (FHA|USDA|VA) 647 $57,095,000 $88,246 $507 5.18%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 280 $23,450,000 $83,750 $533 5.01%
Pottsville, PA (FHA|USDA|VA) 12 $1,370,000 $114,167 $1,916 5.79%
LANCASTER, PA (FHA|USDA|VA) 13 $935,000 $71,923 $1,044 5.37%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 4 $800,000 $200,000 $178 6.31%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 7 $705,000 $100,714 $399 3.80%
OCEAN CITY, NJ (FHA|USDA|VA) 1 $695,000 $695,000 $0 6.46%
YORK-HANOVER, PA (FHA|USDA|VA) 4 $570,000 $142,500 $1,560 6.81%
EAST STROUDSBURG, PA (FHA|USDA|VA) 1 $345,000 $345,000 $5,204 7.13%
LEBANON, PA (FHA|USDA|VA) 7 $245,000 $35,000 $478 6.46%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 1 $195,000 $195,000 $0 1.99%
Sunbury, PA (FHA|USDA|VA) 1 $65,000 $65,000 $0 7.26%
Outside of Metro Areas 1 $55,000 $55,000 $626 7.29%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $55,000 $55,000 $0 1.99%
SALISBURY, MD-DE (FHA|USDA|VA) 1 $45,000 $45,000 $169 7.49%
PITTSBURGH, PA (FHA|USDA|VA) 1 $35,000 $35,000 $161 6.55%
Selinsgrove, PA (FHA|USDA|VA) 1 $25,000 $25,000 $318 6.79%
Diamond Credit Union's top markets include Reading, Philadelphia, Pottsville, Lancaster, and Scranton among others.

Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Delaware (FHA|USDA|VA)
  • Similar Lenders

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

    Republic Bank
    Similarity Rank: 21
    LEBANON
    Similarity Rank: 117
    County Savings Bank
    Similarity Rank: 135
    Columbia Bank
    Similarity Rank: 156
    DEL-ONE FEDERAL CREDIT UNION
    Similarity Rank: 438
    Dover Federal Credit Union
    Similarity Rank: 506
    Financial Freedom Mortgage, LLC
    Similarity Rank: 549
    FRANKLIN MINT
    Similarity Rank: 570

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 649 $59,375,000 $91,487 $554 6.79%
    HELOC 334 $27,310,000 $81,766 n/a 1.99%

    For 2023, Diamond Credit Union's most frequently originated type of loan was Conventional, with 649 originations. Their 2nd most popular type was HELOC, with 334 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 322 $20,530,000 $63,758 $381 4.14%
    Other 256 $14,170,000 $55,352 $398 5.67%
    Refi 241 $24,285,000 $100,768 $380 5.56%
    Home Purchase 127 $19,165,000 $150,906 $2,274 5.45%
    Cash Out Refi 37 $8,535,000 $230,676 $6,383 6.84%

    For 2023, Diamond Credit Union's most frequently cited loan purpose was Home Improvement, with 322 originations. The 2nd most popular reason was Other, with 256 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 657 $55,715,000 $84,802 $358 4.23%
    15 Year 129 $10,205,000 $79,109 $389 7.01%
    20 Year 115 $12,475,000 $108,478 $485 7.68%
    10 Year 56 $3,300,000 $58,929 $287 6.03%
    30 Year 22 $4,810,000 $218,636 $4,602 6.74%
    5 Year 4 $180,000 $45,000 $230 5.67%

    For 2023, Diamond Credit Union's most frequently cited loan duration was Other, with 657 originations. The 2nd most popular length was 15 Year, with 129 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 541 $39,545,000 $73,096
    $3k-4k 3 $685,000 $228,333
    $2k-3k 1 $125,000 $125,000
    $4k-5k 1 $335,000 $335,000

    Diamond Credit Union's average total fees were $4,602, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 541 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 334 $27,310,000 $81,766
    6-7% 299 $31,805,000 $106,371
    5-6% 142 $8,760,000 $61,690
    7-8% 139 $13,545,000 $97,446
    Over 8% 66 $4,750,000 $71,970
    4-5% 3 $515,000 $171,667

    During 2023, Diamond Credit Union's average interest rate for loans was 6.74%, while their most frequently originated rate bucket for loans was <2.5%, with 334 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 705 $35,955,000 $51,000 $369 5.13%
    $100k-200k 194 $25,150,000 $129,639 $736 5.10%
    $200k-400k 72 $19,170,000 $266,250 $2,604 5.50%
    $400k-600k 9 $4,405,000 $489,444 $641 5.60%
    $600k-1MM 3 $2,005,000 $668,333 $0 6.52%

    2023 saw Diamond Credit Union place emphasis on $100,000 or less loans with 705 originations, totaling $35,955,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 263 $20,025,000 $76,141 $547 5.05%
    $150k-250k 206 $21,020,000 $102,039 $610 4.91%
    $75k-100k 180 $11,880,000 $66,000 $520 4.99%
    $50k-75k 173 $10,625,000 $61,416 $650 5.26%
    $50k or less 41 $2,115,000 $51,585 $262 5.23%
    $250k+ 40 $5,110,000 $127,750 $305 4.39%

    Diamond Credit Union lent most frequently to those with incomes in the $100k-150k range, with 263 originations. The second most popular income band? $150k-250k, with 206 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 206 $14,630,000 $71,019 $504 5.44%
    30-36% 193 $14,625,000 $75,777 $647 5.09%
    <20% 72 $4,130,000 $57,361 $434 5.14%
    39% 41 $3,845,000 $93,780 $1,049 4.87%
    37% 39 $2,915,000 $74,744 $755 5.38%
    42% 38 $2,860,000 $75,263 $398 3.90%
    44% 38 $3,360,000 $88,421 $458 4.32%
    40% 33 $2,325,000 $70,455 $474 4.45%
    41% 33 $2,925,000 $88,636 $438 4.00%
    43% 33 $3,155,000 $95,606 $392 4.34%
    45% 33 $2,515,000 $76,212 $682 5.21%
    38% 31 $2,395,000 $77,258 $372 5.57%
    36% 30 $2,010,000 $67,000 $419 4.90%
    46% 24 $2,170,000 $90,417 $796 4.17%
    47% 13 $1,535,000 $118,077 $799 4.49%
    48% 12 $1,070,000 $89,167 $282 5.56%
    50-60% 7 $895,000 $127,857 $305 4.83%
    49% 6 $920,000 $153,333 $452 4.74%

    Diamond Credit Union lent most frequently to those with DTI ratios of 20-30%, with 206 originations. The next most common DTI ratio? 30-36%, with 193 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 756 $59,850,000 $79,167 $541 5.02%
    Not applicable 80 $15,390,000 $192,375 $0 6.68%
    Not provided 106 $7,890,000 $74,434 $565 5.19%
    Black 26 $1,900,000 $73,077 $380 4.42%
    Asian 8 $1,100,000 $137,500 $1,512 5.41%
    American Indian 4 $390,000 $97,500 $1,280 5.36%
    Other Asian 1 $65,000 $65,000 $286 7.49%
    Asian Indian 1 $55,000 $55,000 $0 1.99%
    Native Hawaiian or Islander 1 $45,000 $45,000 $583 6.25%

    Approval Rates

    Total approvals of all applications
    80.59%

    Diamond Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    88.91%

    Diamond Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 983 $86,685,000 $88,184

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    983 $86,685,000 $88,184

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 308 $27,420,000 $89,026 $425 4.78%
    40-60% 69 $10,055,000 $145,725 $691 5.52%
    60-80% 112 $21,480,000 $191,786 $2,533 6.26%
    80-100% 30 $7,280,000 $242,667 $2,986 5.93%
    Over 100% 1 $285,000 $285,000 $0 7.19%
    Under 20% 463 $20,165,000 $43,553 $348 5.04%