Illinois Community Credit Unio Mortgage Rates, Fees & Info
Sycamore, ILLEI: 5493004GTVF72J2WFE10
Tax ID: 36-1848945
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Illinois Community Credit Unio is a smaller mortgage company specializing in Home Improvement and Refi loans. Illinois Community Credit Unio has a high proportion of conventional loans. Their top markets by origination volume include: Chicago, Rochelle, and Rockford among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Illinois Community Credit Unio 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.
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 |
|---|---|---|
| 30 Year Conventional Purchase | 6.77% | 5/4/24 |
| 30 Year Conventional Refi | 6.47% | 5/4/24 |
| 15 Year Conventional Purchase | 6.44% | 5/4/24 |
| 15 Year Conventional Refi | 6.23% | 5/4/24 |
| 15 Year Cash-out Refi | 6.23% | 5/4/24 |
| 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. | ||
Illinois Community Credit Unio Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
51Origination Dollar Volume (All Markets)
$2,965,000Top 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 |
|---|---|---|---|---|---|
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 39 | $2,455,000 | $62,949 | $492 | 4.82% |
| Outside of Metro Areas | 8 | $430,000 | $53,750 | $431 | 5.23% |
| Rochelle, IL (FHA|USDA|VA) | 2 | $50,000 | $25,000 | $498 | 5.13% |
| ROCKFORD, IL (FHA|USDA|VA) | 2 | $30,000 | $15,000 | $265 | 5.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Illinois Community Credit Unio 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 | 51 | $2,965,000 | $58,137 | $473 | 4.91% |
For 2018, Illinois Community Credit Unio's most frequently originated type of loan was Conventional, with 51 originations.
Loan Reason
For 2018, Illinois Community Credit Unio's most frequently cited loan purpose was Home Improvement, with 16 originations. The 2nd most popular reason was Other, with 15 originations.
Loan Duration/Length
For 2018, Illinois Community Credit Unio's most frequently cited loan duration was 10 Year, with 20 originations. The 2nd most popular length was 15 Year, with 17 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 33 | $1,835,000 | $55,606 |
Illinois Community Credit Unio's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 33 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 30 | $2,050,000 | $68,333 |
| 5-6% | 18 | $630,000 | $35,000 |
| 3-4% | 2 | $250,000 | $125,000 |
| 7-8% | 1 | $35,000 | $35,000 |
During 2018, Illinois Community Credit Unio's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 30 originations.
Loan Sizing
2018 saw Illinois Community Credit Unio place emphasis on $100,000 or less loans with 42 originations, totaling $1,530,000 in origination value.
Applicant Income
Illinois Community Credit Unio lent most frequently to those with incomes in the $100k-150k range, with 17 originations. The second most popular income band? $50k or less, with 15 originations.
Applicant Debt to Income Ratio
Illinois Community Credit Unio lent most frequently to those with DTI ratios of 20-30%, with 11 originations. The next most common DTI ratio? <20%, with 10 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 35 | $2,415,000 | $69,000 | $469 | 4.74% |
| Not provided | 16 | $550,000 | $34,375 | $483 | 5.27% |
Approval Rates
Total approvals of all applications80.77%
Illinois Community Credit Unio has a below average approval rate.
Pick Rate
Approvals leading to origination76.47%
Illinois Community Credit Unio has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 51 | $2,965,000 | $58,137 |