Dow Chemical Employees' Mortgage Rates, Fees & Info
Midland, MILEI: 549300EWYXV06QXJH078
Tax ID: 38-0495567
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Mortgage Data
Review & Overview
Dow Chemical Employees' is a smaller mortgage company specializing in Home Purchase loans. Dow Chemical Employees' has a high proportion of conventional loans. Their top markets by origination volume include: Midland, Bay City, Saginaw, Detroit, and Traverse City among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)Dow Chemical Employees' 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. Dow Chemical Employees' is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.
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 | 6.69% | 12/16/24 |
| 30 Year Conventional Refi | 6.43% | 12/16/24 |
| 30 Year Cash-out Refi | 6.77% | 12/16/24 |
| 15 Year Conventional Purchase | 5.91% | 12/16/24 |
| 15 Year Conventional Refi | 5.86% | 12/16/24 |
| 15 Year Cash-out Refi | 5.86% | 12/16/24 |
| 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. | ||
Dow Chemical Employees' Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
436Origination Dollar Volume (All Markets)
$69,310,000Awards
DOW CHEMICAL EMPLOYEES' - 2023
DOW CHEMICAL EMPLOYEES' is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Dow Chemical Employees''s average 30 year fixed mortgage rate was
7.54%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 1.06%.
Relative Fees (Closing Costs)
Dow Chemical Employees''s average total fees/closing costs for a 30 year fixed rate
mortgage were $3,290.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
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 |
|---|---|---|---|---|---|
| MIDLAND, MI (FHA|USDA|VA) | 181 | $29,655,000 | $163,840 | $2,396 | 7.80% |
| Outside of Metro Areas | 58 | $9,370,000 | $161,552 | $2,407 | 7.92% |
| BAY CITY, MI (FHA|USDA|VA) | 76 | $8,350,000 | $109,868 | $2,154 | 7.78% |
| SAGINAW, MI (FHA|USDA|VA) | 55 | $6,825,000 | $124,091 | $2,163 | 7.93% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 19 | $3,535,000 | $186,053 | $2,791 | 8.05% |
| Traverse City, MI (FHA|USDA|VA) | 11 | $3,435,000 | $312,273 | $2,014 | 8.83% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 10 | $2,810,000 | $281,000 | $2,971 | 7.75% |
| Mount Pleasant, MI (FHA|USDA|VA) | 8 | $1,010,000 | $126,250 | $3,047 | 6.77% |
| Sault Ste. Marie, MI (FHA|USDA|VA) | 1 | $935,000 | $935,000 | $4,044 | 8.88% |
| Holland, MI (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $5,143 | 7.38% |
| Houghton, MI (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $2,873 | 6.88% |
| Ludington, MI (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $7,271 | 7.13% |
| ANN ARBOR, MI (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $2,326 | 7.00% |
| FLINT, MI (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $2,914 | 6.94% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $5,501 | 8.13% |
| JACKSON, MI (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $5,332 | 7.38% |
| NILES, MI (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $8,071 | 6.75% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 3 | $225,000 | $75,000 | $1,620 | 7.79% |
| Alma, MI (FHA|USDA|VA) | 2 | $220,000 | $110,000 | $1,387 | 7.88% |
| Big Rapids, MI (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,292 | 6.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against DOW CHEMICAL EMPLOYEES' based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 15
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 436 | $69,310,000 | $158,968 | $2,407 | 7.83% |
For 2023, Dow Chemical Employees''s most frequently originated type of loan was Conventional, with 436 originations.
Loan Reason
For 2023, Dow Chemical Employees''s most frequently cited loan purpose was Home Purchase, with 253 originations. The 2nd most popular reason was Other, with 67 originations.
Loan Duration/Length
For 2023, Dow Chemical Employees''s most frequently cited loan duration was 30 Year, with 233 originations. The 2nd most popular length was 15 Year, with 119 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 436 | $69,310,000 | $158,968 |
Dow Chemical Employees''s average total fees were $3,290, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 436 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 183 | $24,925,000 | $136,202 |
| 7-8% | 133 | $24,175,000 | $181,767 |
| 6-7% | 94 | $16,340,000 | $173,830 |
| 5-6% | 24 | $3,470,000 | $144,583 |
| 4-5% | 2 | $400,000 | $200,000 |
During 2023, Dow Chemical Employees''s average interest rate for loans was 7.54%, while their most frequently originated rate bucket for loans was Over 8%, with 183 originations.
Loan Sizing
2023 saw Dow Chemical Employees' place emphasis on $100,000 or less loans with 159 originations, totaling $8,725,000 in origination value.
Applicant Income
Dow Chemical Employees' lent most frequently to those with incomes in the $100k-150k range, with 98 originations. The second most popular income band? $75k-100k, with 93 originations.
Applicant Debt to Income Ratio
Dow Chemical Employees' lent most frequently to those with DTI ratios of 20-30%, with 114 originations. The next most common DTI ratio? 30-36%, with 90 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.41%
Dow Chemical Employees' has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination58.94%
Dow Chemical Employees' has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 436 | $69,310,000 | $158,968 |