Decatur Earthmover Credit Union Mortgage Rates, Fees & Info

Forsyth, IL

LEI: 5493007NQFYTLJ0O4M47

Tax ID: 37-6026191

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

Review & Overview

Decatur Earthmover Credit Union is a smaller credit union specializing in Other and Cash Out Refi loans. Decatur Earthmover Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Decatur, Champaign, Lincoln, Taylorville, and Springfield among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

Decatur Earthmover Credit Union 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.

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
15 Year Conventional Purchase	5.42%	12/4/24
15 Year Conventional Refi	6.03%	12/4/24
15 Year Cash-out Refi	6.03%	12/4/24
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.

Decatur Earthmover Credit Union Mortgage Calculator

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The default purchase price is the median sales price across the US for 2022Q4, per FRED.

Originations

108

Origination Dollar Volume (All Markets)

$4,150,000

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
DECATUR, IL (FHA\|USDA\|VA)	83	$3,095,000	$37,289	$228	4.17%
Outside of Metro Areas	17	$795,000	$46,765	$291	4.00%
CHAMPAIGN-URBANA, IL (FHA\|USDA\|VA)	5	$145,000	$29,000	$365	4.85%
Lincoln, IL (FHA\|USDA\|VA)	1	$65,000	$65,000	$664	4.13%
Taylorville, IL (FHA\|USDA\|VA)	1	$35,000	$35,000	$234	3.38%
SPRINGFIELD, IL (FHA\|USDA\|VA)	1	$15,000	$15,000	$204	3.13%

Decatur Earthmover Credit Union's top markets include Decatur, Champaign, Lincoln, Taylorville, and Springfield among others.

Their top states include:

Illinois (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	108	$4,150,000	$38,426	$250	4.16%

For 2018, Decatur Earthmover Credit Union's most frequently originated type of loan was Conventional, with 108 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Other	65	$2,695,000	$41,462	$260	4.20%
Cash Out Refi	31	$1,015,000	$32,742	$233	4.19%
Refi	12	$440,000	$36,667	$240	3.82%

For 2018, Decatur Earthmover Credit Union's most frequently cited loan purpose was Other, with 65 originations. The 2nd most popular reason was Cash Out Refi, with 31 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
10 Year	29	$1,265,000	$43,621	$258	4.53%
5 Year	26	$650,000	$25,000	$210	3.65%
Other	24	$880,000	$36,667	$266	4.10%
15 Year	20	$1,190,000	$59,500	$291	4.87%
3 Year	9	$165,000	$18,333	$195	2.96%

For 2018, Decatur Earthmover Credit Union's most frequently cited loan duration was 10 Year, with 29 originations. The 2nd most popular length was 5 Year, with 26 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	97	$3,845,000	$39,639

Decatur Earthmover Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 97 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
3-4%	42	$1,640,000	$39,048
4-5%	28	$1,390,000	$49,643
5-6%	15	$435,000	$29,000
2.5-3%	11	$285,000	$25,909
<2.5%	6	$100,000	$16,667
6-7%	6	$300,000	$50,000

During 2018, Decatur Earthmover Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 42 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	106	$3,920,000	$36,981	$243	4.14%
$100k-200k	2	$230,000	$115,000	$556	5.13%

2018 saw Decatur Earthmover Credit Union place emphasis on $100,000 or less loans with 106 originations, totaling $3,920,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	34	$1,160,000	$34,118	$193	4.27%
$50k or less	34	$1,330,000	$39,118	$230	4.15%
$75k-100k	27	$1,115,000	$41,296	$303	3.91%
$100k-150k	10	$330,000	$33,000	$273	4.35%
$150k-250k	3	$215,000	$71,667	$561	4.46%

Decatur Earthmover Credit Union lent most frequently to those with incomes in the $50k-75k range, with 34 originations. The second most popular income band? $50k or less, with 34 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	38	$1,420,000	$37,368	$253	4.10%
<20%	16	$630,000	$39,375	$299	3.73%
30-36%	15	$555,000	$37,000	$254	4.09%
42%	7	$305,000	$43,571	$196	4.23%
36%	6	$140,000	$23,333	$208	5.13%
38%	6	$260,000	$43,333	$279	3.98%
40%	4	$140,000	$35,000	$189	4.19%
39%	4	$180,000	$45,000	$202	3.59%
41%	4	$160,000	$40,000	$189	3.72%
37%	2	$40,000	$20,000	$219	5.23%
50-60%	2	$80,000	$40,000	$189	4.75%
>60%	2	$90,000	$45,000	$202	5.31%
43%	1	$35,000	$35,000	$189	4.63%
45%	1	$115,000	$115,000	$631	6.25%

Decatur Earthmover Credit Union lent most frequently to those with DTI ratios of 20-30%, with 38 originations. The next most common DTI ratio? <20%, with 16 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	97	$3,775,000	$38,918	$254	4.11%
Black	11	$375,000	$34,091	$189	4.55%

Approval Rates

Total approvals of all applications
92.54%

Decatur Earthmover Credit Union has an average approval rate.

Pick Rate

Approvals leading to origination
85.19%

Decatur Earthmover Credit Union has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	108	$4,150,000	$38,426

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Single Family (1-4 Units):Site-Built	108	$4,150,000	$38,426

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	32	$1,040,000	$32,500	$229	4.01%
40-60%	19	$915,000	$48,158	$203	4.14%
60-80%	21	$1,165,000	$55,476	$262	4.35%
80-100%	7	$525,000	$75,000	$373	4.39%
Under 20%	29	$505,000	$17,414	$262	4.13%