Dow Chemical Employees' Mortgage Rates, Fees & Info
Midland, MILEI: 549300EWYXV06QXJH078
Tax ID: 38-0495567
2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Overview
Dow Chemical Employees' is a smaller mortgage company specializing in Cash Out Refi, Home Purchase, and Refi loans. Dow Chemical Employees' has a high proportion of conventional loans. Their top markets include Midland, Saginaw, Bay City, Detroit, and Grand Rapids among others. Dow Chemical Employees' has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Dow Chemical Employees' is typically a low fee lendor.Originations
1,170Origination Dollar Volume (All Markets)
$186,020,000Awards
DOW CHEMICAL EMPLOYEES' - 2021
DOW CHEMICAL EMPLOYEES' is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
Work for DOW CHEMICAL EMPLOYEES'?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
Relative Rate
Dow Chemical Employees''s average 30 year fixed rate mortgage of loans were
3.44%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of 0.29%.
Relative Fees
Dow Chemical Employees''s average total fees for a 30 year fixed rate
mortgage are $2,732.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| MIDLAND, MI (FHA|USDA|VA) | 575 | $89,725,000 | $156,043 | $2,166 | 3.28% |
| Outside of Metro Areas | 144 | $22,970,000 | $159,514 | $2,398 | 3.34% |
| SAGINAW, MI (FHA|USDA|VA) | 135 | $21,915,000 | $162,333 | $2,187 | 3.33% |
| BAY CITY, MI (FHA|USDA|VA) | 160 | $21,420,000 | $133,875 | $2,128 | 3.27% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 38 | $7,930,000 | $208,684 | $2,163 | 3.39% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 20 | $4,150,000 | $207,500 | $2,000 | 3.36% |
| Mount Pleasant, MI (FHA|USDA|VA) | 23 | $3,555,000 | $154,565 | $2,260 | 3.32% |
| Traverse City, MI (FHA|USDA|VA) | 17 | $3,365,000 | $197,941 | $2,584 | 3.32% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 13 | $2,365,000 | $181,923 | $3,100 | 3.32% |
| ANN ARBOR, MI (FHA|USDA|VA) | 4 | $1,740,000 | $435,000 | $2,516 | 3.19% |
| Alma, MI (FHA|USDA|VA) | 10 | $1,400,000 | $140,000 | $2,969 | 3.36% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 3 | $1,245,000 | $415,000 | $5,553 | 3.33% |
| FLINT, MI (FHA|USDA|VA) | 6 | $1,070,000 | $178,333 | $1,891 | 3.29% |
| Cadillac, MI (FHA|USDA|VA) | 5 | $605,000 | $121,000 | $1,582 | 3.43% |
| Holland, MI (FHA|USDA|VA) | 3 | $535,000 | $178,333 | $3,733 | 3.33% |
| Marquette, MI (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $2,957 | 3.00% |
| JACKSON, MI (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $2,030 | 3.56% |
| NILES, MI (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $2,365 | 3.06% |
| MONROE, MI (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,095 | 2.88% |
| Alpena, MI (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,859 | 3.00% |
| Sault Ste. Marie, MI (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,278 | 3.13% |
| Sturgis, MI (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $1,861 | 3.13% |
| Big Rapids, MI (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $1,685 | 3.75% |
| Iron Mountain, MI-WI (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $1,901 | 3.13% |
| BATTLE CREEK, MI (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $1,731 | 2.88% |
| Houghton, MI (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $1,384 | 3.75% |
Dow Chemical Employees''s top markets include Midland, Saginaw, Bay City, Detroit, and Grand Rapids among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 1,170 | $186,020,000 | $158,991 | $2,224 | 3.30% |
For the 2021 period, Dow Chemical Employees''s most frequently originated loan type of loans were Conventional, with 1,170 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 407 | $59,255,000 | $145,590 | $1,808 | 3.43% |
| Home Purchase | 381 | $72,625,000 | $190,617 | $3,127 | 3.29% |
| Refi | 341 | $50,545,000 | $148,226 | $1,825 | 3.10% |
| Home Improvement | 40 | $3,490,000 | $87,250 | $1,276 | 3.69% |
| Other | 1 | $105,000 | $105,000 | $1,681 | 3.75% |
For the 2021, Dow Chemical Employees''s most frequently cited loan purpose of loans were Cash Out Refi, with 407 originations. The 2nd most popular reason of loans were Home Purchase, with 381 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 568 | $101,380,000 | $178,486 | $2,732 | 3.44% |
| 15 Year | 294 | $40,770,000 | $138,673 | $1,669 | 3.17% |
| 20 Year | 182 | $30,250,000 | $166,209 | $1,996 | 3.16% |
| 10 Year | 94 | $9,280,000 | $98,723 | $1,524 | 3.00% |
| Other | 26 | $4,100,000 | $157,692 | $1,917 | 3.59% |
| 5 Year | 6 | $240,000 | $40,000 | $580 | 4.23% |
For the 2021, Dow Chemical Employees''s most frequently cited loan length of loans were 30 Year, with 568 originations. The 2nd most popular length of loans were 15 Year, with 294 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 1,170 | $186,020,000 | $158,991 |
$2,732 of loans were Dow Chemical Employees''s average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 1,170 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 725 | $127,615,000 | $176,021 |
| 2.5-3% | 318 | $46,500,000 | $146,226 |
| <2.5% | 65 | $9,265,000 | $142,538 |
| 4-5% | 62 | $2,640,000 | $42,581 |
During 2021, Dow Chemical Employees''s average interest rate of loans were 3.44%, while their most frequently originated rate bucket of loans were 3-4%, with 725 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-200k | 550 | $79,420,000 | $144,400 | $2,171 | 3.27% |
| $100,000 or less | 323 | $21,745,000 | $67,322 | $1,539 | 3.34% |
| $200k-400k | 270 | $70,420,000 | $260,815 | $3,054 | 3.30% |
| $400k-600k | 23 | $11,205,000 | $487,174 | $3,191 | 3.36% |
| $600k-1MM | 4 | $3,230,000 | $807,500 | $3,217 | 3.75% |
2021 saw Dow Chemical Employees' place emphasis on $100k-200k loans with 550 originations, totaling $79,420,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k-75k | 308 | $38,500,000 | $125,000 | $2,181 | 3.31% |
| $100k-150k | 286 | $54,250,000 | $189,685 | $2,482 | 3.31% |
| $75k-100k | 217 | $31,125,000 | $143,433 | $2,201 | 3.35% |
| $50k or less | 170 | $14,770,000 | $86,882 | $1,880 | 3.24% |
| $150k-250k | 161 | $37,935,000 | $235,621 | $2,264 | 3.22% |
| $250k+ | 28 | $9,440,000 | $337,143 | $2,108 | 3.52% |
Dow Chemical Employees' lent most frequently to those with incomes in the $50k-75k range, with 308 originations. The second most popular income band? $100k-150k, with 286 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 370 | $58,960,000 | $159,351 | $2,129 | 3.27% |
| 30-36% | 233 | $37,315,000 | $160,150 | $2,382 | 3.31% |
| <20% | 189 | $28,705,000 | $151,878 | $1,993 | 3.17% |
| 44% | 49 | $7,475,000 | $152,551 | $2,704 | 3.30% |
| 36% | 39 | $5,555,000 | $142,436 | $2,372 | 3.41% |
| 38% | 38 | $5,920,000 | $155,789 | $2,416 | 3.29% |
| 37% | 34 | $5,920,000 | $174,118 | $2,591 | 3.33% |
| 41% | 33 | $6,135,000 | $185,909 | $2,171 | 3.49% |
| 40% | 31 | $4,805,000 | $155,000 | $2,605 | 3.35% |
| 39% | 28 | $4,200,000 | $150,000 | $2,489 | 3.40% |
| 43% | 28 | $5,890,000 | $210,357 | $2,617 | 3.26% |
| 42% | 27 | $4,225,000 | $156,481 | $1,832 | 3.52% |
| 45% | 22 | $3,490,000 | $158,636 | $2,167 | 3.40% |
| 46% | 18 | $3,140,000 | $174,444 | $1,798 | 3.49% |
| 47% | 15 | $2,445,000 | $163,000 | $1,890 | 3.55% |
| 48% | 7 | $745,000 | $106,429 | $1,371 | 3.86% |
| 49% | 7 | $945,000 | $135,000 | $1,761 | 3.36% |
| 50-60% | 2 | $150,000 | $75,000 | $1,561 | 3.44% |
Dow Chemical Employees' lent most frequently to those with DTI ratios of 20-30%, with 370 originations. The next most common DTI ratio? 30-36%, with 233 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 783 | $121,055,000 | $154,604 | $2,133 | 3.29% |
| Not provided | 364 | $61,250,000 | $168,269 | $2,446 | 3.32% |
| Asian | 8 | $1,800,000 | $225,000 | $1,975 | 3.09% |
| American Indian | 7 | $725,000 | $103,571 | $1,961 | 3.20% |
| Black | 6 | $630,000 | $105,000 | $1,302 | 3.69% |
| Chinese | 1 | $305,000 | $305,000 | $2,122 | 2.63% |
| Other Asian | 1 | $255,000 | $255,000 | $2,248 | 3.13% |
Approval Rates
Total approvals of all applications98.84%
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 origination62.70%
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 | 1,170 | $186,020,000 | $158,991 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1,170 | $186,020,000 | $158,991 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 90 | $7,760,000 | $86,222 | $1,488 | 3.22% |
| 40-60% | 226 | $31,010,000 | $137,212 | $1,744 | 3.11% |
| 60-80% | 461 | $82,115,000 | $178,124 | $1,910 | 3.28% |
| 80-100% | 344 | $63,670,000 | $185,087 | $3,400 | 3.34% |
| Under 20% | 49 | $1,465,000 | $29,898 | $497 | 4.21% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Diaz Anselmo Lindberg, P.A. | Other type of mortgage | Struggling to pay mortgage | 1 | 100.0% |
