Day Air Credit Union Inc Mortgage Rates, Fees & Info

Kettering, OH

LEI: 254900JPFVLN18XNDG98

Tax ID: 31-0546041

5 stars - Updated: 3/28/24 - out of 5 stars, based on 27 reviews

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

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Mortgage Data

Review & Overview

Day Air Credit Union Inc is a smaller credit union specializing in Home Improvement and Home Purchase loans. Day Air Credit Union Inc has a high proportion of conventional loans. Their top markets by origination volume include: Dayton, Cincinnati, Springfield, Columbus, and Toledo among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)

Day Air Credit Union Inc has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Day Air Credit Union Inc 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.27% 3/28/24
30 Year Conventional Purchase 6.68% 3/28/24
30 Year Conventional Refi 6.27% 3/28/24
30 Year Cash-out Refi 6.27% 3/28/24
15 Year Conventional Purchase 5.68% 3/28/24
15 Year Conventional Refi 5.68% 3/28/24
15 Year Cash-out Refi 5.68% 3/28/24
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.

Day Air Credit Union Inc Mortgage Calculator






Your Estimates

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

This is not an official calculator from Day Air Credit Union Inc. 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

746

Origination Dollar Volume (All Markets)

$72,830,000

Awards

Day Air Credit Union Inc 30 Year Conventional Loans gold Day Air Credit Union Inc 30 Year Conventional Loans silver Day Air Credit Union Inc 30 Year Conventional Loans bronze
Show all (3) awards

Relative Rate

Day Air Credit Union Inc's average 30 year fixed mortgage rate was 6.62%.

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

This yields a difference of 0.14%.

Relative Fees (Closing Costs)

Day Air Credit Union Inc's average total fees/closing costs for a 30 year fixed rate mortgage were $3,127.

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
DAYTON-KETTERING, OH (FHA|USDA|VA) 599 $55,155,000 $92,078 $1,777 7.60%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 78 $9,860,000 $126,410 $1,742 8.02%
SPRINGFIELD, OH (FHA|USDA|VA) 24 $2,420,000 $100,833 $1,893 7.48%
COLUMBUS, OH (FHA|USDA|VA) 3 $945,000 $315,000 $3,688 6.71%
TOLEDO, OH (FHA|USDA|VA) 2 $780,000 $390,000 $1,883 5.25%
Greenville, OH (FHA|USDA|VA) 11 $685,000 $62,273 $1,515 7.12%
Outside of Metro Areas 13 $655,000 $50,385 $1,529 7.27%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $485,000 $485,000 $1,663 5.88%
Wilmington, OH (FHA|USDA|VA) 4 $460,000 $115,000 $3,202 7.46%
Tiffin, OH (FHA|USDA|VA) 1 $365,000 $365,000 $0 7.74%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $355,000 $355,000 $3,053 6.75%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $275,000 $275,000 $2,804 5.13%
Celina, OH (FHA|USDA|VA) 1 $105,000 $105,000 $4,820 6.25%
Urbana, OH (FHA|USDA|VA) 3 $85,000 $28,333 $298 7.57%
Sidney, OH (FHA|USDA|VA) 2 $80,000 $40,000 $0 9.25%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $75,000 $75,000 $4,134 8.13%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $45,000 $45,000 $4,077 6.25%
Day Air Credit Union Inc's top markets include Dayton, Cincinnati, Springfield, Columbus, and Toledo among others.

Their top states include:
  • Ohio (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)
  • Similar Lenders

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

    LCNB National Bank
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 550 $55,840,000 $101,527 $1,803 7.37%
    HELOC 196 $16,990,000 $86,684 n/a 8.29%

    For 2023, Day Air Credit Union Inc's most frequently originated type of loan was Conventional, with 550 originations. Their 2nd most popular type was HELOC, with 196 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 306 $18,040,000 $58,954 $296 7.84%
    Home Purchase 198 $35,910,000 $181,364 $3,093 6.95%
    Other 148 $11,130,000 $75,203 $579 8.05%
    Cash Out Refi 78 $6,350,000 $81,410 $2,646 7.74%
    Refi 16 $1,400,000 $87,500 $2,688 6.76%

    For 2023, Day Air Credit Union Inc's most frequently cited loan purpose was Home Improvement, with 306 originations. The 2nd most popular reason was Home Purchase, with 198 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 215 $18,615,000 $86,581 $950 8.20%
    30 Year 145 $26,665,000 $183,897 $3,127 6.62%
    10 Year 127 $5,395,000 $42,480 $303 7.86%
    15 Year 102 $9,700,000 $95,098 $1,310 8.03%
    5 Year 99 $2,785,000 $28,131 $333 7.08%
    20 Year 55 $7,105,000 $129,182 $2,543 7.56%
    30+ year 3 $2,565,000 $855,000 $8,061 6.29%

    For 2023, Day Air Credit Union Inc's most frequently cited loan duration was Other, with 215 originations. The 2nd most popular length was 30 Year, with 145 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 317 $39,925,000 $125,946
    $2k-3k 13 $2,835,000 $218,077
    $1k-2k 11 $1,235,000 $112,273
    $3k-4k 8 $1,740,000 $217,500
    $4k-5k 1 $105,000 $105,000
    $5k+ 1 $495,000 $495,000

    Day Air Credit Union Inc's average total fees were $3,127, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 317 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 254 $18,860,000 $74,252
    7-8% 212 $19,930,000 $94,009
    6-7% 150 $19,240,000 $128,267
    5-6% 106 $13,710,000 $129,340
    4-5% 22 $1,050,000 $47,727
    3-4% 2 $40,000 $20,000

    During 2023, Day Air Credit Union Inc's average interest rate for loans was 6.62%, while their most frequently originated rate bucket for loans was Over 8%, with 254 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 484 $21,480,000 $44,380 $825 7.78%
    $100k-200k 178 $25,210,000 $141,629 $2,800 7.41%
    $200k-400k 74 $19,900,000 $268,919 $3,340 7.14%
    $400k-600k 9 $4,365,000 $485,000 $4,253 6.19%
    $1MM+ 1 $1,875,000 $1,875,000 $9,692 6.75%

    2023 saw Day Air Credit Union Inc place emphasis on $100,000 or less loans with 484 originations, totaling $21,480,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 183 $13,885,000 $75,874 $1,764 7.48%
    $100k-150k 181 $16,505,000 $91,188 $1,529 7.66%
    $75k-100k 124 $9,670,000 $77,984 $1,576 7.71%
    $150k-250k 115 $15,195,000 $132,130 $2,170 7.85%
    $50k or less 97 $7,315,000 $75,412 $1,937 7.47%
    $250k+ 46 $10,260,000 $223,043 $2,544 7.37%

    Day Air Credit Union Inc lent most frequently to those with incomes in the $50k-75k range, with 183 originations. The second most popular income band? $100k-150k, with 181 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 145 $12,855,000 $88,655 $1,692 7.39%
    30-36% 104 $10,780,000 $103,654 $1,973 7.30%
    <20% 84 $8,670,000 $103,214 $1,360 7.36%
    50-60% 41 $6,325,000 $154,268 $2,295 7.80%
    40% 24 $2,540,000 $105,833 $1,840 7.99%
    45% 18 $3,150,000 $175,000 $1,967 6.79%
    47% 15 $1,945,000 $129,667 $2,722 7.86%
    44% 15 $1,925,000 $128,333 $2,146 8.38%
    >60% 14 $2,180,000 $155,714 $2,077 8.28%
    43% 14 $1,720,000 $122,857 $3,007 6.68%
    46% 14 $1,560,000 $111,429 $1,688 7.98%
    36% 13 $1,565,000 $120,385 $1,375 8.07%
    39% 12 $1,290,000 $107,500 $2,086 7.98%
    41% 12 $1,530,000 $127,500 $2,273 7.50%
    42% 11 $1,245,000 $113,182 $1,699 7.68%
    37% 9 $605,000 $67,222 $228 6.41%
    38% 8 $610,000 $76,250 $1,344 7.38%
    48% 6 $300,000 $50,000 $901 7.26%
    49% 5 $745,000 $149,000 $1,318 7.54%

    Day Air Credit Union Inc lent most frequently to those with DTI ratios of 20-30%, with 145 originations. The next most common DTI ratio? 30-36%, with 104 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 521 $44,365,000 $85,154 $1,412 7.68%
    Not provided 147 $20,905,000 $142,211 $2,686 7.25%
    Black 69 $6,485,000 $93,986 $1,757 7.81%
    Asian 5 $535,000 $107,000 $3,570 8.04%
    Asian Indian 1 $335,000 $335,000 $0 8.99%
    Chinese 1 $115,000 $115,000 $0 7.24%
    Native Hawaiian or Islander 1 $75,000 $75,000 $0 8.49%
    American Indian 1 $15,000 $15,000 $0 3.74%

    Approval Rates

    Total approvals of all applications
    90.24%

    Day Air Credit Union Inc has an average approval rate.

    Pick Rate

    Approvals leading to origination
    69.71%

    Day Air Credit Union Inc has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 746 $72,830,000 $97,627

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    746 $72,830,000 $97,627

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 192 $14,410,000 $75,052 $514 7.99%
    40-60% 75 $11,095,000 $147,933 $2,393 7.47%
    60-80% 80 $13,290,000 $166,125 $3,210 6.98%
    80-100% 131 $25,085,000 $191,489 $3,017 7.18%
    Over 100% 4 $150,000 $37,500 $510 9.12%
    Under 20% 261 $8,415,000 $32,241 $296 7.76%