Illinois State Police Federal Credit Union Mortgage Rates, Fees & Info
Springfield, ILLEI: 549300D4P7FB9UH6CL48
Tax ID: 37-6057285
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Illinois State Police Federal Credit Union is a smaller credit union specializing in Home Improvement and Refi loans. Illinois State Police Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Chicago, Carbondale, Paducah, and Springfield among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Illinois State Police Federal 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.
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Originations
11Origination Dollar Volume (All Markets)
$625,000Top 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) | 5 | $325,000 | $65,000 | $679 | 7.52% |
| Outside of Metro Areas | 3 | $155,000 | $51,667 | $494 | 8.24% |
| CARBONDALE-MARION, IL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $548 | 6.24% |
| Paducah, KY-IL (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $770 | 6.24% |
| SPRINGFIELD, IL (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $393 | 9.24% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 11 | $625,000 | $56,818 | $581 | 7.64% |
For 2024, Illinois State Police Federal Credit Union's most frequently originated type of loan was Conventional, with 11 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Improvement | 8 | $360,000 | $45,000 | $475 | 7.77% |
| Other | 2 | $110,000 | $55,000 | $683 | 7.74% |
| Refi | 1 | $155,000 | $155,000 | $1,014 | 6.38% |
For 2024, Illinois State Police Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 8 originations. The 2nd most popular reason was Other, with 2 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 10 Year | 11 | $625,000 | $56,818 | $581 | 7.64% |
For 2024, Illinois State Police Federal Credit Union's most frequently cited loan duration was 10 Year, with 11 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 9 | $565,000 | $62,778 |
Illinois State Police Federal 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 9 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 6 | $440,000 | $73,333 |
| Over 8% | 5 | $185,000 | $37,000 |
During 2024, Illinois State Police Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 6-7%, with 6 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 10 | $470,000 | $47,000 | $527 | 7.77% |
| $100k-200k | 1 | $155,000 | $155,000 | $1,014 | 6.38% |
2024 saw Illinois State Police Federal Credit Union place emphasis on $100,000 or less loans with 10 originations, totaling $470,000 in origination value.
Applicant Income
Illinois State Police Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 5 originations. The second most popular income band? $150k-250k, with 4 originations.
Applicant Debt to Income Ratio
Illinois State Police Federal Credit Union lent most frequently to those with DTI ratios of <20%, with 4 originations. The next most common DTI ratio? 20-30%, with 3 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 10 | $470,000 | $47,000 | $527 | 7.77% |
| Black | 1 | $155,000 | $155,000 | $1,014 | 6.38% |
Approval Rates
Total approvals of all applications92.86%
Illinois State Police Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination81.82%
Illinois State Police Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 11 | $625,000 | $56,818 |