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 loans. Diamond Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Reading, Philadelphia, Lancaster, Pottsville, and Allentown 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 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% 12/16/24
    30 Year Conventional Purchase 6.72% 12/16/24
    30 Year Conventional Refi 6.45% 12/16/24
    30 Year Cash-out Refi 6.76% 12/16/24
    15 Year Conventional Purchase 6.15% 12/16/24
    15 Year Conventional Refi 6.22% 12/16/24
    15 Year Cash-out Refi 6.22% 12/16/24
    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

    677

    Origination Dollar Volume (All Markets)

    $93,965,000

    Awards

    Diamond Credit Union 30 Year Conventional Loans bronze Diamond Credit Union 30 Year Conventional Loans silver
    Show all (2) 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) 417 $54,975,000 $131,835 $1,469 3.58%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 206 $30,950,000 $150,243 $1,550 3.56%
    LANCASTER, PA (FHA|USDA|VA) 14 $2,060,000 $147,143 $1,908 3.50%
    Pottsville, PA (FHA|USDA|VA) 17 $1,825,000 $107,353 $622 3.52%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 10 $1,180,000 $118,000 $665 4.03%
    OCEAN CITY, NJ (FHA|USDA|VA) 2 $650,000 $325,000 $3,668 2.81%
    LEBANON, PA (FHA|USDA|VA) 3 $615,000 $205,000 $3,530 4.13%
    STATE COLLEGE, PA (FHA|USDA|VA) 1 $385,000 $385,000 $4,143 3.00%
    Outside of Metro Areas 1 $325,000 $325,000 $4,178 3.00%
    PITTSBURGH, PA (FHA|USDA|VA) 1 $265,000 $265,000 $130 3.40%
    SALISBURY, MD-DE (FHA|USDA|VA) 1 $205,000 $205,000 $3,262 3.13%
    SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $195,000 $195,000 $3,688 3.88%
    BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 1 $135,000 $135,000 $3,313 3.25%
    Huntingdon, PA (FHA|USDA|VA) 1 $105,000 $105,000 $2,676 2.63%
    ERIE, PA (FHA|USDA|VA) 1 $95,000 $95,000 $2,917 3.25%
    Diamond Credit Union's top markets include Reading, Philadelphia, Lancaster, Pottsville, and Allentown 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.

    First Commonwealth Federal Credit Union
    Similarity Rank: 210
    BELLCO
    Similarity Rank: 354
    First Citizens Community Bank
    Similarity Rank: 589
    BHCU
    Similarity Rank: 625
    Prudential Bank
    Similarity Rank: 640
    Homesale Mortgage, LLC
    Similarity Rank: 1175
    Unity Bank
    Similarity Rank: 1258
    GLENDENNING MORTGAGE CORPORATION
    Similarity Rank: 1340
    Orrstown Bank
    Similarity Rank: 1377
    ABERDEEN PROVING GROUND FEDERAL CREDIT UNION
    Similarity Rank: 1585

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 677 $93,965,000 $138,796 $1,504 3.57%

    For 2020, Diamond Credit Union's most frequently originated type of loan was Conventional, with 677 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 386 $60,020,000 $155,492 $1,388 3.21%
    Home Purchase 78 $12,420,000 $159,231 $2,768 4.01%
    Cash Out Refi 77 $15,215,000 $197,597 $3,672 3.70%
    Home Improvement 73 $2,925,000 $40,068 $352 4.07%
    Other 63 $3,385,000 $53,730 $386 4.50%

    For 2020, Diamond Credit Union's most frequently cited loan purpose was Refi, with 386 originations. The 2nd most popular reason was Home Purchase, with 78 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 186 $28,700,000 $154,301 $1,736 3.28%
    10 Year 163 $17,795,000 $109,172 $421 3.56%
    20 Year 121 $20,545,000 $169,793 $1,353 3.63%
    Other 108 $6,530,000 $60,463 $554 4.09%
    30 Year 94 $19,680,000 $209,362 $3,772 3.46%
    5 Year 3 $95,000 $31,667 $354 3.30%
    1 Year 2 $620,000 $310,000 $0 5.75%

    For 2020, Diamond Credit Union's most frequently cited loan duration was 15 Year, with 186 originations. The 2nd most popular length was 10 Year, with 163 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 609 $81,875,000 $134,442
    $1k-2k 14 $3,200,000 $228,571
    $3k-4k 4 $790,000 $197,500
    $5k+ 2 $430,000 $215,000
    $2k-3k 1 $145,000 $145,000
    $4k-5k 1 $325,000 $325,000

    Diamond Credit Union's average total fees were $3,772, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 609 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 351 $54,625,000 $155,627
    2.5-3% 193 $27,915,000 $144,637
    4-5% 67 $5,135,000 $76,642
    5-6% 56 $5,650,000 $100,893
    6-7% 9 $505,000 $56,111
    <2.5% 1 $135,000 $135,000

    During 2020, Diamond Credit Union's average interest rate for loans was 3.46%, while their most frequently originated rate bucket for loans was 3-4%, with 351 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 267 $39,855,000 $149,270 $1,734 3.34%
    $100,000 or less 265 $14,085,000 $53,151 $511 3.92%
    $200k-400k 136 $35,440,000 $260,588 $2,842 3.33%
    $400k-600k 8 $3,500,000 $437,500 $2,740 4.06%
    $1MM+ 1 $1,085,000 $1,085,000 $0 4.00%

    2020 saw Diamond Credit Union place emphasis on $100k-200k loans with 267 originations, totaling $39,855,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 180 $24,710,000 $137,278 $1,338 3.60%
    $50k-75k 142 $14,790,000 $104,155 $1,291 3.47%
    $75k-100k 127 $16,735,000 $131,772 $1,638 3.55%
    $150k-250k 116 $21,480,000 $185,172 $1,822 3.39%
    $50k or less 54 $4,830,000 $89,444 $1,372 3.46%
    $250k+ 19 $5,125,000 $269,737 $2,375 3.33%

    Diamond Credit Union lent most frequently to those with incomes in the $100k-150k range, with 180 originations. The second most popular income band? $50k-75k, with 142 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 213 $29,345,000 $137,770 $1,601 3.36%
    30-36% 151 $20,875,000 $138,245 $1,375 3.46%
    <20% 70 $8,710,000 $124,429 $1,270 3.17%
    42% 29 $4,145,000 $142,931 $1,463 3.51%
    38% 23 $3,085,000 $134,130 $1,551 3.82%
    39% 22 $2,220,000 $100,909 $612 3.85%
    36% 19 $3,165,000 $166,579 $2,097 3.60%
    40% 18 $2,540,000 $141,111 $1,370 3.70%
    37% 17 $3,065,000 $180,294 $1,695 3.79%
    41% 16 $1,870,000 $116,875 $766 3.97%
    43% 13 $1,635,000 $125,769 $1,839 3.49%
    50-60% 11 $1,565,000 $142,273 $1,691 4.54%
    45% 9 $1,195,000 $132,778 $2,408 4.12%
    44% 8 $1,050,000 $131,250 $1,540 3.99%
    >60% 6 $610,000 $101,667 $1,065 3.89%
    47% 5 $715,000 $143,000 $1,996 4.45%
    49% 5 $925,000 $185,000 $3,305 3.19%
    46% 5 $935,000 $187,000 $2,944 3.27%
    48% 4 $520,000 $130,000 $2,094 3.94%

    Diamond Credit Union lent most frequently to those with DTI ratios of 20-30%, with 213 originations. The next most common DTI ratio? 30-36%, with 151 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 570 $79,140,000 $138,842 $1,515 3.50%
    Not provided 55 $6,165,000 $112,091 $1,309 3.50%
    Not applicable 30 $5,390,000 $179,667 $0 5.02%
    Black 13 $1,435,000 $110,385 $1,785 3.89%
    Asian 5 $1,425,000 $285,000 $1,908 3.63%
    American Indian 2 $250,000 $125,000 $1,740 2.94%
    Other Pacific Islander 1 $145,000 $145,000 $0 4.75%
    Asian Indian 1 $15,000 $15,000 $565 3.59%

    Approval Rates

    Total approvals of all applications
    83.68%

    Diamond Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    87.44%

    Diamond Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 677 $93,965,000 $138,796

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $1,020,000 $255,000
    Single Family (1-4 Units):Site-Built 673 $92,945,000 $138,105

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 100 $8,340,000 $83,400 $633 3.64%
    40-60% 122 $17,700,000 $145,082 $1,665 3.20%
    60-80% 246 $45,860,000 $186,423 $2,189 3.47%
    80-100% 80 $16,310,000 $203,875 $2,410 3.45%
    Over 100% 2 $1,210,000 $605,000 $0 4.63%
    Under 20% 127 $4,545,000 $35,787 $355 4.13%