Diamond Credit Union Mortgage Rates, Fees & Info
Pottstown, PALEI: 25490053H6JWQDX4RM47
Tax ID: 23-1320654
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Mortgage Data
Review & Overview
Diamond Credit Union is a smaller credit union specializing in Home Improvement and Refi loans. Diamond Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Reading, Philadelphia, Lancaster, Pottsville, and York 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 3.39% | 11/17/24 |
| 30 Year Conventional Purchase | 6.72% | 11/17/24 |
| 30 Year Conventional Refi | 6.45% | 11/17/24 |
| 30 Year Cash-out Refi | 6.76% | 11/17/24 |
| 15 Year Conventional Purchase | 6.15% | 11/17/24 |
| 15 Year Conventional Refi | 6.22% | 11/17/24 |
| 15 Year Cash-out Refi | 6.22% | 11/17/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
961Origination Dollar Volume (All Markets)
$89,905,000Awards
Diamond Credit Union - 2022
Diamond Credit Union is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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) | 634 | $56,780,000 | $89,558 | $722 | 3.89% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 250 | $23,660,000 | $94,640 | $801 | 3.66% |
| LANCASTER, PA (FHA|USDA|VA) | 24 | $2,140,000 | $89,167 | $245 | 3.54% |
| Pottsville, PA (FHA|USDA|VA) | 20 | $1,730,000 | $86,500 | $941 | 4.27% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 4 | $1,650,000 | $412,500 | $0 | 3.83% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 13 | $1,385,000 | $106,538 | $874 | 3.62% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 3 | $765,000 | $255,000 | $0 | 6.18% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $0 | 4.88% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 3 | $435,000 | $145,000 | $0 | 4.72% |
| LEBANON, PA (FHA|USDA|VA) | 3 | $215,000 | $71,667 | $1,626 | 4.83% |
| Outside of Metro Areas | 1 | $175,000 | $175,000 | $3,470 | 3.00% |
| Lewisburg, PA (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $462 | 5.03% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $4,792 | 4.13% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 1.99% |
| DOVER, DE (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 1.99% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 604 | $62,300,000 | $103,146 | $758 | 4.93% |
| HELOC | 357 | $27,605,000 | $77,325 | n/a | 1.99% |
For 2022, Diamond Credit Union's most frequently originated type of loan was Conventional, with 604 originations. Their 2nd most popular type was HELOC, with 357 originations.
Loan Reason
For 2022, Diamond Credit Union's most frequently cited loan purpose was Home Improvement, with 366 originations. The 2nd most popular reason was Other, with 226 originations.
Loan Duration/Length
For 2022, Diamond Credit Union's most frequently cited loan duration was Other, with 665 originations. The 2nd most popular length was 15 Year, with 111 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 486 | $42,420,000 | $87,284 |
| $2k-3k | 2 | $190,000 | $95,000 |
| $1k-2k | 1 | $105,000 | $105,000 |
| $5k+ | 1 | $445,000 | $445,000 |
Diamond Credit Union's average total fees were $4,045, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 486 originations.
Interest Rates
During 2022, Diamond Credit Union's average interest rate for loans was 4.75%, while their most frequently originated rate bucket for loans was <2.5%, with 360 originations.
Loan Sizing
2022 saw Diamond Credit Union place emphasis on $100,000 or less loans with 646 originations, totaling $33,000,000 in origination value.
Applicant Income
Diamond Credit Union lent most frequently to those with incomes in the $100k-150k range, with 261 originations. The second most popular income band? $150k-250k, with 183 originations.
Applicant Debt to Income Ratio
Diamond Credit Union lent most frequently to those with DTI ratios of 20-30%, with 214 originations. The next most common DTI ratio? 30-36%, with 192 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications79.97%
Diamond Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination88.76%
Diamond Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 961 | $89,905,000 | $93,554 |