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: Springfield, Chicago, Freeport, Rockford, and Peoria among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)Illinois State Police Federal 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.
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Originations
19Origination Dollar Volume (All Markets)
$1,355,000Top 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 |
|---|---|---|---|---|---|
| SPRINGFIELD, IL (FHA|USDA|VA) | 6 | $460,000 | $76,667 | $578 | 3.04% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 3 | $165,000 | $55,000 | $476 | 3.33% |
| Freeport, IL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $761 | 3.25% |
| ROCKFORD, IL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $1,327 | 3.25% |
| PEORIA, IL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $1,453 | 3.25% |
| DECATUR, IL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 3.00% |
| KANKAKEE, IL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 3.00% |
| Fort Madison-Keokuk, IA-IL-MO (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $1,342 | 3.25% |
| Charleston-Mattoon, IL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $578 | 3.00% |
| Pontiac, IL (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 3.00% |
| Outside of Metro Areas | 1 | $45,000 | $45,000 | $546 | 3.25% |
| DANVILLE, IL (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 3.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 19 | $1,355,000 | $71,316 | $705 | 3.13% |
For 2021, Illinois State Police Federal Credit Union's most frequently originated type of loan was Conventional, with 19 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Improvement | 15 | $945,000 | $63,000 | $476 | 3.10% |
| Refi | 3 | $305,000 | $101,667 | $1,143 | 3.25% |
| Home Purchase | 1 | $105,000 | $105,000 | $1,453 | 3.25% |
For 2021, Illinois State Police Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 15 originations. The 2nd most popular reason was Refi, with 3 originations.
Loan Duration/Length
For 2021, Illinois State Police Federal Credit Union's most frequently cited loan duration was 10 Year, with 12 originations. The 2nd most popular length was 15 Year, with 4 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 12 | $780,000 | $65,000 |
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 12 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 11 | $715,000 | $65,000 |
| 3-4% | 8 | $640,000 | $80,000 |
During 2021, 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 2.5-3%, with 11 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 15 | $825,000 | $55,000 | $563 | 3.12% |
| $100k-200k | 4 | $530,000 | $132,500 | $1,180 | 3.19% |
2021 saw Illinois State Police Federal Credit Union place emphasis on $100,000 or less loans with 15 originations, totaling $825,000 in origination value.
Applicant Income
Illinois State Police Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 8 originations. The second most popular income band? $150k-250k, with 6 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 11 | $645,000 | $58,636 | $585 | 3.16% |
| 30-36% | 5 | $515,000 | $103,000 | $977 | 3.15% |
| <20% | 3 | $195,000 | $65,000 | $578 | 3.00% |
Illinois State Police Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 11 originations. The next most common DTI ratio? 30-36%, with 5 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 18 | $1,300,000 | $72,222 | $743 | 3.14% |
| Not provided | 1 | $55,000 | $55,000 | $258 | 3.00% |
Approval Rates
Total approvals of all applications85.71%
Illinois State Police Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination73.68%
Illinois State Police Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 19 | $1,355,000 | $71,316 |