Dow Chemical Employees' Mortgage Rates, Fees & Info

Midland, MI

LEI: 549300EWYXV06QXJH078

Tax ID: 38-0495567

5 stars - Updated: 12/4/24 - out of 5 stars, based on 21 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.69% 12/4/24
30 Year Conventional Refi 6.43% 12/4/24
30 Year Cash-out Refi 6.77% 12/4/24
15 Year Conventional Purchase 5.91% 12/4/24
15 Year Conventional Refi 5.86% 12/4/24
15 Year Cash-out Refi 5.86% 12/4/24
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






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Dow Chemical Employees'. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

436

Origination Dollar Volume (All Markets)

$69,310,000

Awards

DOW CHEMICAL EMPLOYEES' 30 Year Conventional Loans bronze DOW CHEMICAL EMPLOYEES' 30 Year Conventional Loans silver
Show all (2) awards

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%
Dow Chemical Employees''s top markets include Midland, Bay City, Saginaw, Detroit, and Traverse City among others.

Their top states include:
  • Michigan (FHA|USDA|VA)
  • 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.

    Michigan Legacy Credit Union
    Similarity Rank: 15
    SUNRISE FAMILY CREDIT UNION
    Similarity Rank: 68
    FIRST CHOICE MH LLC
    Similarity Rank: 72
    Total Community Credit Union
    Similarity Rank: 94
    United Bank of Michigan
    Similarity Rank: 98
    St James Mortgage Corporation
    Similarity Rank: 104
    Adventure Credit Union
    Similarity Rank: 130

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 253 $54,445,000 $215,198 $3,319 7.47%
    Other 67 $4,805,000 $71,716 $1,098 8.56%
    Home Improvement 59 $3,575,000 $60,593 $832 8.68%
    Cash Out Refi 50 $5,380,000 $107,600 $1,456 7.82%
    Refi 7 $1,105,000 $157,857 $2,032 7.13%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 233 $47,165,000 $202,425 $3,290 7.54%
    15 Year 119 $10,345,000 $86,933 $1,012 8.50%
    20 Year 51 $9,425,000 $184,804 $2,485 7.46%
    10 Year 23 $1,785,000 $77,609 $1,147 7.89%
    5 Year 8 $340,000 $42,500 $651 8.69%
    Other 2 $250,000 $125,000 $1,995 7.81%

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 159 $8,725,000 $54,874 $1,145 8.34%
    $100k-200k 151 $21,445,000 $142,020 $2,745 7.49%
    $200k-400k 108 $28,940,000 $267,963 $3,566 7.57%
    $400k-600k 13 $6,245,000 $480,385 $3,838 7.77%
    $600k-1MM 5 $3,955,000 $791,000 $3,556 7.90%

    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

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 98 $17,580,000 $179,388 $2,590 7.94%
    $75k-100k 93 $12,295,000 $132,204 $2,408 7.77%
    $150k-250k 90 $19,570,000 $217,444 $2,591 8.05%
    $50k-75k 85 $8,865,000 $104,294 $2,238 7.80%
    $50k or less 53 $3,775,000 $71,226 $1,997 7.40%
    $250k+ 17 $7,225,000 $425,000 $2,491 7.90%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 114 $20,580,000 $180,526 $2,774 7.66%
    30-36% 90 $12,560,000 $139,556 $2,468 8.02%
    <20% 31 $4,645,000 $149,839 $2,073 7.42%
    42% 25 $5,465,000 $218,600 $2,543 8.25%
    44% 25 $3,045,000 $121,800 $1,718 7.81%
    37% 22 $3,130,000 $142,273 $2,557 7.74%
    45% 16 $2,080,000 $130,000 $1,549 8.31%
    43% 16 $2,840,000 $177,500 $1,873 8.02%
    39% 15 $1,935,000 $129,000 $2,255 7.94%
    41% 14 $1,840,000 $131,429 $2,475 7.59%
    46% 13 $1,705,000 $131,154 $1,459 8.48%
    47% 12 $1,800,000 $150,000 $2,048 7.89%
    40% 12 $1,800,000 $150,000 $2,526 7.60%
    38% 11 $2,385,000 $216,818 $3,052 7.51%
    36% 10 $1,490,000 $149,000 $2,998 7.60%
    48% 6 $870,000 $145,000 $1,593 7.96%
    49% 3 $915,000 $305,000 $3,901 7.38%
    50-60% 1 $225,000 $225,000 $2,115 8.00%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 300 $44,920,000 $149,733 $2,259 7.86%
    Not provided 125 $22,585,000 $180,680 $2,745 7.76%
    Asian 3 $775,000 $258,333 $3,906 8.38%
    Black 3 $405,000 $135,000 $2,789 7.38%
    Asian Indian 1 $365,000 $365,000 $2,695 8.63%
    Other Asian 2 $170,000 $85,000 $1,322 8.44%
    American Indian 2 $90,000 $45,000 $1,512 6.88%

    Approval Rates

    Total approvals of all applications
    99.41%

    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 origination
    58.94%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    436 $69,310,000 $158,968

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 79 $6,135,000 $77,658 $1,092 8.49%
    40-60% 50 $7,220,000 $144,400 $1,858 7.56%
    60-80% 105 $23,065,000 $219,667 $2,307 7.49%
    80-100% 146 $30,680,000 $210,137 $4,048 7.44%
    Under 20% 56 $2,210,000 $39,464 $659 8.82%