Dow Chemical Employees' Mortgage Rates, Fees & InfoMidland, MI
Tax ID: 38-0495567
Latest/2021 | 2020 Data | 2019 Data | 2018 Data
Review & OverviewDow 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 by origination volume include: Midland, Saginaw, Bay City, Detroit, and Grand Rapids among others. We have data for 26 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 about average rates.
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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.77%||3/19/23|
|30 Year Conventional Refi||6.69%||3/19/23|
|30 Year Cash-out Refi||6.94%||3/19/23|
|15 Year Conventional Purchase||6.28%||3/19/23|
|15 Year Conventional Refi||6.35%||3/19/23|
|15 Year Cash-out Refi||6.35%||3/19/23|
|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.|
Origination Dollar Volume (All Markets)$186,020,000
Dow Chemical Employees''s average 30 year fixed mortgage rate was
The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.
This yields a difference of 0.29%.
Relative Fees (Closing Costs)
Dow Chemical Employees''s average total fees/closing costs for a 30 year fixed rate
mortgage were $2,732.
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 $4,750.
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)||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%|
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.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2021, Dow Chemical Employees''s most frequently originated type of loan was Conventional, with 1,170 originations.
For 2021, Dow Chemical Employees''s most frequently cited loan purpose was Cash Out Refi, with 407 originations. The 2nd most popular reason was Home Purchase, with 381 originations.
For 2021, Dow Chemical Employees''s most frequently cited loan duration was 30 Year, with 568 originations. The 2nd most popular length was 15 Year, with 294 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Dow Chemical Employees''s average total fees were $2,732, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,170 originations.
|Loan Rate||Originations||Total Value||Average Loan|
During 2021, Dow Chemical Employees''s average interest rate for loans was 3.44%, while their most frequently originated rate bucket for loans was 3-4%, with 725 originations.
2021 saw Dow Chemical Employees' place emphasis on $100k-200k loans with 550 originations, totaling $79,420,000 in origination value.
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
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.
Approval RatesTotal approvals of all applications
Dow Chemical Employees' has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick RateApprovals leading to origination
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|
|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%|