Decatur Earthmover Credit Union Mortgage Rates, Fees & Info
Forsyth, ILLEI: 5493007NQFYTLJ0O4M47
Tax ID: 37-6026191
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Mortgage Data
Review & Overview
Decatur Earthmover Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. Decatur Earthmover Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Decatur, Champaign, Taylorville, Peoria, and Springfield among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)Decatur Earthmover 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.
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% | 12/3/24 |
| 15 Year Conventional Refi | 6.03% | 12/3/24 |
| 15 Year Cash-out Refi | 6.03% | 12/3/24 |
| 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
187Origination Dollar Volume (All Markets)
$12,545,000Top 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 |
|---|---|---|---|---|---|
| DECATUR, IL (FHA|USDA|VA) | 136 | $9,070,000 | $66,691 | $722 | 3.63% |
| Outside of Metro Areas | 23 | $1,535,000 | $66,739 | $819 | 3.80% |
| CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 10 | $590,000 | $59,000 | $538 | 3.75% |
| Taylorville, IL (FHA|USDA|VA) | 6 | $430,000 | $71,667 | $769 | 3.45% |
| PEORIA, IL (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $842 | 2.63% |
| SPRINGFIELD, IL (FHA|USDA|VA) | 5 | $305,000 | $61,000 | $613 | 4.39% |
| BLOOMINGTON, IL (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $495 | 3.12% |
| Charleston-Mattoon, IL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $1,199 | 4.00% |
| Lincoln, IL (FHA|USDA|VA) | 2 | $20,000 | $10,000 | $604 | 5.50% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 187 | $12,545,000 | $67,086 | $722 | 3.68% |
For 2021, Decatur Earthmover Credit Union's most frequently originated type of loan was Conventional, with 187 originations.
Loan Reason
For 2021, Decatur Earthmover Credit Union's most frequently cited loan purpose was Cash Out Refi, with 71 originations. The 2nd most popular reason was Refi, with 47 originations.
Loan Duration/Length
For 2021, Decatur Earthmover Credit Union's most frequently cited loan duration was 15 Year, with 51 originations. The 2nd most popular length was 20 Year, with 44 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 183 | $12,455,000 | $68,060 |
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 183 originations.
Interest Rates
During 2021, Decatur Earthmover Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 2.5-3%, with 73 originations.
Loan Sizing
2021 saw Decatur Earthmover Credit Union place emphasis on $100,000 or less loans with 156 originations, totaling $8,060,000 in origination value.
Applicant Income
Decatur Earthmover Credit Union lent most frequently to those with incomes in the $50k-75k range, with 56 originations. The second most popular income band? $75k-100k, with 42 originations.
Applicant Debt to Income Ratio
Decatur Earthmover Credit Union lent most frequently to those with DTI ratios of 20-30%, with 64 originations. The next most common DTI ratio? <20%, with 41 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.83%
Decatur Earthmover Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination86.63%
Decatur Earthmover Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 187 | $12,545,000 | $67,086 |