Diamond Credit Union Mortgage Rates, Fees & Info

Pottstown, PA

LEI: 25490053H6JWQDX4RM47

Tax ID: 23-1320654

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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 Refi and Home Purchase loans. Diamond Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Reading, Philadelphia, Lancaster, Allentown, and Pottsville among others. We have data for 9 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 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) 3.39% 4/18/24
    30 Year Conventional Purchase 6.72% 4/18/24
    30 Year Conventional Refi 6.45% 4/18/24
    30 Year Cash-out Refi 6.76% 4/18/24
    15 Year Conventional Purchase 6.15% 4/18/24
    15 Year Conventional Refi 6.22% 4/18/24
    15 Year Cash-out Refi 6.22% 4/18/24
    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

    324

    Origination Dollar Volume (All Markets)

    $27,470,000

    Awards

    Diamond Credit Union 30 Year Conventional Loans gold
    Show all (1) 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
    READING, PA (FHA|USDA|VA) 190 $15,870,000 $83,526 $1,151 4.93%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 101 $8,915,000 $88,267 $935 4.82%
    LANCASTER, PA (FHA|USDA|VA) 9 $645,000 $71,667 $459 4.79%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 8 $620,000 $77,500 $924 5.25%
    Pottsville, PA (FHA|USDA|VA) 9 $475,000 $52,778 $614 5.42%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 3 $375,000 $125,000 $496 6.10%
    YORK-HANOVER, PA (FHA|USDA|VA) 2 $270,000 $135,000 $3,115 5.54%
    LEBANON, PA (FHA|USDA|VA) 1 $225,000 $225,000 $3,576 4.63%
    Bradford, PA (FHA|USDA|VA) 1 $75,000 $75,000 $758 3.99%
    Diamond Credit Union's top markets include Reading, Philadelphia, Lancaster, Allentown, and Pottsville among others.

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

    VISIONS
    Similarity Rank: 50
    Iron Workers Savings Bank
    Similarity Rank: 63
    Haddon Savings Bank
    Similarity Rank: 116
    FIDELITY SAVINGS AND LOAN ASSOCIATION OF BUCKS COUNTY
    Similarity Rank: 126
    ABERDEEN PROVING GROUND FEDERAL CREDIT UNION
    Similarity Rank: 135
    Columbia Bank
    Similarity Rank: 136
    WASHINGTON SAVINGS BANK
    Similarity Rank: 225
    Diamond Credit Union
    Similarity Rank: 225
    COMMUNITY POWERED
    Similarity Rank: 228
    First Commonwealth Federal Credit Union
    Similarity Rank: 238

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 324 $27,470,000 $84,784 $1,059 4.93%

    For 2018, Diamond Credit Union's most frequently originated type of loan was Conventional, with 324 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 109 $11,025,000 $101,147 $818 4.83%
    Other 82 $3,420,000 $41,707 $566 5.06%
    Home Improvement 63 $2,715,000 $43,095 $518 4.73%
    Home Purchase 48 $7,390,000 $153,958 $2,874 5.07%
    Cash Out Refi 22 $2,920,000 $132,727 $3,328 5.16%

    For 2018, Diamond Credit Union's most frequently cited loan purpose was Refi, with 109 originations. The 2nd most popular reason was Other, with 82 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 92 $3,430,000 $37,283 $526 4.52%
    10 Year 84 $7,160,000 $85,238 $511 4.84%
    15 Year 70 $7,150,000 $102,143 $1,245 5.18%
    20 Year 42 $4,590,000 $109,286 $940 5.75%
    30 Year 29 $4,875,000 $168,103 $3,279 4.78%
    5 Year 7 $265,000 $37,857 $580 4.45%

    For 2018, Diamond Credit Union's most frequently cited loan duration was Other, with 92 originations. The 2nd most popular length was 10 Year, with 84 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 114 $11,390,000 $99,912

    Diamond Credit Union's average total fees were $3,279, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 114 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 131 $11,825,000 $90,267
    5-6% 104 $9,550,000 $91,827
    3-4% 65 $3,835,000 $59,000
    6-7% 18 $1,990,000 $110,556
    7-8% 4 $180,000 $45,000
    Over 8% 2 $90,000 $45,000

    During 2018, Diamond Credit Union's average interest rate for loans was 4.78%, while their most frequently originated rate bucket for loans was 4-5%, with 131 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 231 $10,885,000 $47,121 $609 4.89%
    $100k-200k 69 $9,595,000 $139,058 $2,135 5.03%
    $200k-400k 21 $5,305,000 $252,619 $2,319 4.86%
    $400k-600k 2 $960,000 $480,000 $4,928 5.35%
    $600k-1MM 1 $725,000 $725,000 $0 6.40%

    2018 saw Diamond Credit Union place emphasis on $100,000 or less loans with 231 originations, totaling $10,885,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 93 $7,105,000 $76,398 $855 4.92%
    $75k-100k 69 $5,805,000 $84,130 $1,432 4.85%
    $50k-75k 66 $4,750,000 $71,970 $663 4.81%
    $50k or less 30 $1,750,000 $58,333 $1,094 4.77%
    $150k-250k 28 $2,640,000 $94,286 $1,467 4.78%
    $250k+ 8 $1,400,000 $175,000 $1,944 4.69%

    Diamond Credit Union lent most frequently to those with incomes in the $100k-150k range, with 93 originations. The second most popular income band? $75k-100k, with 69 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 85 $6,935,000 $81,588 $1,438 4.79%
    30-36% 60 $5,000,000 $83,333 $939 4.84%
    <20% 29 $1,795,000 $61,897 $882 4.43%
    50-60% 23 $1,795,000 $78,043 $762 4.56%
    42% 21 $2,015,000 $95,952 $1,169 5.13%
    41% 16 $850,000 $53,125 $616 5.34%
    37% 13 $935,000 $71,923 $759 5.40%
    39% 11 $1,015,000 $92,273 $1,839 5.16%
    36% 6 $270,000 $45,000 $533 4.66%
    40% 6 $250,000 $41,667 $630 6.23%
    38% 5 $445,000 $89,000 $595 4.34%
    47% 5 $345,000 $69,000 $1,538 4.05%
    43% 5 $705,000 $141,000 $1,368 4.58%
    >60% 3 $285,000 $95,000 $549 4.83%
    44% 3 $495,000 $165,000 $1,735 5.17%
    48% 2 $180,000 $90,000 $517 4.47%
    45% 2 $190,000 $95,000 $567 3.90%

    Diamond Credit Union lent most frequently to those with DTI ratios of 20-30%, with 85 originations. The next most common DTI ratio? 30-36%, with 60 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 278 $22,020,000 $79,209 $1,086 4.84%
    Not applicable 29 $3,965,000 $136,724 $0 5.81%
    Not provided 13 $1,005,000 $77,308 $518 4.74%
    Asian 1 $325,000 $325,000 $1,014 5.49%
    Black 2 $100,000 $50,000 $0 4.37%
    Other Pacific Islander 1 $55,000 $55,000 $0 5.74%

    Approval Rates

    Total approvals of all applications
    75.55%

    Diamond Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    82.72%

    Diamond Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 324 $27,470,000 $84,784

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 6 $1,350,000 $225,000
    Single Family (1-4 Units):Site-Built 318 $26,120,000 $82,138

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 70 $5,100,000 $72,857 $671 4.93%
    40-60% 34 $3,560,000 $104,706 $1,198 4.79%
    60-80% 72 $9,990,000 $138,750 $2,359 5.15%
    80-100% 20 $3,080,000 $154,000 $2,253 4.85%
    Over 100% 1 $725,000 $725,000 $0 6.40%
    Under 20% 122 $4,140,000 $33,934 $518 4.84%