Diamond Credit Union Mortgage Rates, Fees & Info

Pottstown, PA

LEI: 25490053H6JWQDX4RM47

Tax ID: 23-1320654

5 stars - out of 5 stars, based on 28 reviews

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

Jump to:

Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Diamond Credit Union is a smaller credit union specializing in loans. Diamond Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Reading, Philadelphia, York, Harrisburg, and Lancaster among others. We have data for 15 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 an average 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
    30 Year Conventional Purchase 6.53% 3/19/23
    30 Year Conventional Refi 6.38% 3/19/23
    30 Year Cash-out Refi 6.60% 3/19/23
    15 Year Conventional Purchase 6.48% 3/19/23
    15 Year Conventional Refi 6.18% 3/19/23
    15 Year Cash-out Refi 6.18% 3/19/23
    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.


    Originations

    810

    Origination Dollar Volume (All Markets)

    $123,640,000

    Awards

    Diamond Credit Union 30 Year Conventional Loans bronze Diamond Credit Union 30 Year Conventional Loans silver
    Show all (2) awards

    Relative Rate

    Diamond Credit Union's average 30 year fixed mortgage rate was 3.12%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.03%.

    Relative Fees (Closing Costs)

    Diamond Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $3,869.

    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 $4,750.

    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) 528 $73,650,000 $139,489 $1,352 3.30%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 229 $37,765,000 $164,913 $1,621 3.30%
    YORK-HANOVER, PA (FHA|USDA|VA) 3 $3,345,000 $1,115,000 $3,741 3.45%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 2 $2,470,000 $1,235,000 $0 4.88%
    LANCASTER, PA (FHA|USDA|VA) 12 $2,160,000 $180,000 $1,869 3.31%
    Pottsville, PA (FHA|USDA|VA) 9 $765,000 $85,000 $1,036 2.80%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 5 $685,000 $137,000 $1,688 3.37%
    Outside of Metro Areas 5 $605,000 $121,000 $2,044 2.99%
    SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 7 $585,000 $83,571 $565 4.50%
    STATE COLLEGE, PA (FHA|USDA|VA) 1 $545,000 $545,000 $7,470 3.00%
    LEBANON, PA (FHA|USDA|VA) 3 $445,000 $148,333 $3,302 2.83%
    SALISBURY, MD-DE (FHA|USDA|VA) 3 $405,000 $135,000 $2,964 2.50%
    PITTSBURGH, PA (FHA|USDA|VA) 1 $75,000 $75,000 $244 2.78%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $75,000 $75,000 $3,129 2.88%
    WILLIAMSPORT, PA (FHA|USDA|VA) 1 $65,000 $65,000 $0 5.25%
    Diamond Credit Union's top markets include Reading, Philadelphia, York, Harrisburg, and Lancaster among others.

    Their top states include:
  • Pennsylvania (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.

    BELLCO
    Similarity Rank: 176
    Louviers Federal Credit Union
    Similarity Rank: 410
    VISIONS
    Similarity Rank: 468
    BHCU
    Similarity Rank: 504
    Discovery Federal Credit Union
    Similarity Rank: 616
    Columbia Bank
    Similarity Rank: 1105
    First Commonwealth Federal Credit Union
    Similarity Rank: 1340
    FEDERATED LENDING CORPORATION
    Similarity Rank: 1448
    AmeriServ Financial Bank
    Similarity Rank: 1505
    Homesale Mortgage, LLC
    Similarity Rank: 1900

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 810 $123,640,000 $152,642 $1,467 3.31%

    For 2021, Diamond Credit Union's most frequently originated type of loan was Conventional, with 810 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 469 $73,135,000 $155,938 $1,209 2.97%
    Home Purchase 99 $24,005,000 $242,475 $3,485 3.80%
    Cash Out Refi 93 $18,015,000 $193,710 $3,841 3.36%
    Home Improvement 89 $4,545,000 $51,067 $330 3.80%
    Other 60 $3,940,000 $65,667 $362 4.33%

    For 2021, Diamond Credit Union's most frequently cited loan purpose was Refi, with 469 originations. The 2nd most popular reason was Home Purchase, with 99 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 204 $30,800,000 $150,980 $1,584 2.93%
    Other 190 $25,160,000 $132,421 $650 4.19%
    20 Year 165 $27,895,000 $169,061 $1,069 3.39%
    10 Year 126 $13,670,000 $108,492 $422 2.67%
    30 Year 113 $25,535,000 $225,973 $3,869 3.12%
    5 Year 12 $580,000 $48,333 $294 2.88%

    For 2021, Diamond Credit Union's most frequently cited loan duration was 15 Year, with 204 originations. The 2nd most popular length was Other, with 190 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 708 $102,020,000 $144,096
    $2k-3k 8 $1,780,000 $222,500
    $4k-5k 3 $1,015,000 $338,333
    $1k-2k 1 $245,000 $245,000
    $3k-4k 1 $245,000 $245,000
    $5k+ 1 $275,000 $275,000

    Diamond Credit Union's average total fees were $3,869, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 708 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 346 $55,040,000 $159,075
    3-4% 233 $39,075,000 $167,704
    4-5% 110 $13,090,000 $119,000
    <2.5% 79 $12,055,000 $152,595
    5-6% 39 $4,185,000 $107,308
    Over 8% 2 $90,000 $45,000
    6-7% 1 $105,000 $105,000

    During 2021, Diamond Credit Union's average interest rate for loans was 3.12%, while their most frequently originated rate bucket for loans was 2.5-3%, with 346 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 328 $47,320,000 $144,268 $1,595 3.13%
    $100,000 or less 290 $16,760,000 $57,793 $455 3.64%
    $200k-400k 175 $45,485,000 $259,914 $2,668 3.06%
    $400k-600k 14 $6,590,000 $470,714 $3,061 3.29%
    $1MM+ 3 $7,485,000 $2,495,000 $12,524 3.75%

    2021 saw Diamond Credit Union place emphasis on $100k-200k loans with 328 originations, totaling $47,320,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 195 $31,595,000 $162,026 $1,491 3.24%
    $50k-75k 161 $18,545,000 $115,186 $1,651 3.11%
    $75k-100k 152 $19,940,000 $131,184 $1,421 3.13%
    $150k-250k 125 $20,705,000 $165,640 $1,329 3.23%
    $50k or less 68 $6,380,000 $93,824 $1,143 3.15%
    $250k+ 26 $8,950,000 $344,231 $2,537 3.26%

    Diamond Credit Union lent most frequently to those with incomes in the $100k-150k range, with 195 originations. The second most popular income band? $50k-75k, with 161 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 208 $29,560,000 $142,115 $1,278 3.16%
    30-36% 153 $21,565,000 $140,948 $1,372 3.27%
    <20% 92 $11,920,000 $129,565 $1,328 2.83%
    41% 35 $5,205,000 $148,714 $1,630 3.40%
    40% 30 $4,390,000 $146,333 $1,331 3.37%
    39% 30 $4,420,000 $147,333 $1,459 3.32%
    37% 23 $3,275,000 $142,391 $2,091 3.23%
    38% 23 $3,475,000 $151,087 $729 3.06%
    42% 21 $3,515,000 $167,381 $1,607 3.46%
    44% 21 $3,245,000 $154,524 $2,310 3.20%
    36% 20 $2,880,000 $144,000 $1,307 3.22%
    43% 15 $2,485,000 $165,667 $1,702 3.27%
    45% 12 $2,390,000 $199,167 $2,483 3.03%
    48% 9 $1,605,000 $178,333 $2,460 3.05%
    49% 9 $1,105,000 $122,778 $2,418 3.33%
    >60% 9 $1,275,000 $141,667 $944 3.24%
    50-60% 7 $985,000 $140,714 $1,297 3.52%
    47% 7 $1,355,000 $193,571 $2,651 2.76%
    46% 7 $1,605,000 $229,286 $3,835 2.98%

    Diamond Credit Union lent most frequently to those with DTI ratios of 20-30%, with 208 originations. The next most common DTI ratio? 30-36%, with 153 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 643 $92,125,000 $143,274 $1,521 3.17%
    Not applicable 73 $16,045,000 $219,795 $0 4.61%
    Not provided 68 $11,080,000 $162,941 $881 3.25%
    Black 16 $2,340,000 $146,250 $1,776 3.34%
    American Indian 5 $1,125,000 $225,000 $1,923 2.78%
    Asian 4 $820,000 $205,000 $1,632 2.87%
    Native Hawaiian or Islander 1 $105,000 $105,000 $233 3.11%

    Approval Rates

    Total approvals of all applications
    89.63%

    Diamond Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.16%

    Diamond Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 810 $123,640,000 $152,642

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    810 $123,640,000 $152,642

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 135 $12,115,000 $89,741 $524 3.35%
    40-60% 138 $20,070,000 $145,435 $1,458 2.87%
    60-80% 305 $60,625,000 $198,770 $2,246 3.24%
    80-100% 101 $21,425,000 $212,129 $2,417 3.36%
    Over 100% 9 $4,625,000 $513,889 $0 4.76%
    Under 20% 122 $4,780,000 $39,180 $310 3.77%