Dow Chemical Employees' Mortgage Rates, Fees & Info

Midland, MI

LEI: 549300EWYXV06QXJH078

Tax ID: 38-0495567

5 stars - Updated: 9/25/23 - out of 5 stars, based on 27 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Dow Chemical Employees' is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Dow Chemical Employees' has a high proportion of conventional loans. Their top markets by origination volume include: Midland, Bay City, Saginaw, Detroit, and Mount Pleasant among others. We have data for 23 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.

    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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.69% 9/25/23
    30 Year Conventional Refi 6.43% 9/25/23
    30 Year Cash-out Refi 6.77% 9/25/23
    15 Year Conventional Purchase 5.91% 9/25/23
    15 Year Conventional Refi 5.86% 9/25/23
    15 Year Cash-out Refi 5.86% 9/25/23
    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.

    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

    751

    Origination Dollar Volume (All Markets)

    $120,575,000

    Awards

    DOW CHEMICAL EMPLOYEES' 30 Year Conventional Loans silver DOW CHEMICAL EMPLOYEES' 30 Year Conventional Loans bronze DOW CHEMICAL EMPLOYEES' 30 Year Conventional Loans bronze DOW CHEMICAL EMPLOYEES' 30 Year Conventional Loans bronze
    Show all (4) awards

    Relative Rate

    Dow Chemical Employees''s average 30 year fixed mortgage rate was 5.15%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of 0.39%.

    Relative Fees (Closing Costs)

    Dow Chemical Employees''s average total fees/closing costs for a 30 year fixed rate mortgage were $3,000.

    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.

    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) 339 $53,675,000 $158,333 $2,279 4.91%
    BAY CITY, MI (FHA|USDA|VA) 122 $18,050,000 $147,951 $2,504 4.89%
    Outside of Metro Areas 108 $14,400,000 $133,333 $2,201 5.11%
    SAGINAW, MI (FHA|USDA|VA) 65 $11,245,000 $173,000 $2,275 4.80%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 22 $4,820,000 $219,091 $2,963 5.33%
    Mount Pleasant, MI (FHA|USDA|VA) 19 $3,365,000 $177,105 $2,871 5.32%
    Traverse City, MI (FHA|USDA|VA) 11 $3,085,000 $280,455 $2,872 4.40%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 12 $2,550,000 $212,500 $1,916 4.45%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 13 $2,255,000 $173,462 $2,850 5.22%
    FLINT, MI (FHA|USDA|VA) 8 $1,510,000 $188,750 $3,364 5.98%
    Alma, MI (FHA|USDA|VA) 7 $1,025,000 $146,429 $2,624 5.43%
    ANN ARBOR, MI (FHA|USDA|VA) 4 $820,000 $205,000 $2,023 3.97%
    KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 4 $780,000 $195,000 $1,552 5.50%
    Big Rapids, MI (FHA|USDA|VA) 3 $775,000 $258,333 $3,469 5.50%
    Cadillac, MI (FHA|USDA|VA) 3 $525,000 $175,000 $2,218 5.00%
    Sault Ste. Marie, MI (FHA|USDA|VA) 2 $410,000 $205,000 $2,262 5.50%
    Sturgis, MI (FHA|USDA|VA) 2 $360,000 $180,000 $3,225 5.88%
    BATTLE CREEK, MI (FHA|USDA|VA) 2 $270,000 $135,000 $2,822 5.56%
    Ludington, MI (FHA|USDA|VA) 1 $235,000 $235,000 $2,256 6.50%
    Marquette, MI (FHA|USDA|VA) 1 $165,000 $165,000 $2,027 6.50%
    MONROE, MI (FHA|USDA|VA) 1 $105,000 $105,000 $1,707 3.25%
    Houghton, MI (FHA|USDA|VA) 1 $75,000 $75,000 $2,198 7.38%
    JACKSON, MI (FHA|USDA|VA) 1 $75,000 $75,000 $2,695 5.63%
    Dow Chemical Employees''s top markets include Midland, Bay City, Saginaw, Detroit, and Mount Pleasant 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.

    SUNRISE FAMILY CREDIT UNION
    Similarity Rank: 45
    St James Mortgage Corporation
    Similarity Rank: 114
    FinancialEdge Community Credit Union
    Similarity Rank: 128
    Lake Huron Credit Union
    Similarity Rank: 136
    Polish-American Federal Credit Union
    Similarity Rank: 159
    HEALTH ADVANTAGE FEDERAL CREDIT UNION
    Similarity Rank: 318
    JOLT CREDIT UNION
    Similarity Rank: 330
    Community West Credit Union
    Similarity Rank: 340
    PREFERRED CREDIT UNION
    Similarity Rank: 380
    West Michigan Credit Union
    Similarity Rank: 468

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 751 $120,575,000 $160,553 $2,369 4.97%

    For 2022, Dow Chemical Employees''s most frequently originated type of loan was Conventional, with 751 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 342 $69,390,000 $202,895 $3,299 5.28%
    Cash Out Refi 198 $31,340,000 $158,283 $1,916 4.34%
    Other 84 $6,710,000 $79,881 $1,044 5.87%
    Refi 67 $9,365,000 $139,776 $1,975 3.35%
    Home Improvement 60 $3,770,000 $62,833 $852 5.81%

    For 2022, Dow Chemical Employees''s most frequently cited loan purpose was Home Purchase, with 342 originations. The 2nd most popular reason was Cash Out Refi, with 198 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 411 $79,655,000 $193,808 $3,000 5.15%
    15 Year 183 $21,765,000 $118,934 $1,461 4.91%
    10 Year 79 $7,125,000 $90,190 $1,410 4.62%
    20 Year 65 $10,325,000 $158,846 $2,173 4.44%
    Other 8 $1,510,000 $188,750 $2,855 4.95%
    5 Year 5 $195,000 $39,000 $585 4.60%

    For 2022, Dow Chemical Employees''s most frequently cited loan duration was 30 Year, with 411 originations. The 2nd most popular length was 15 Year, with 183 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 751 $120,575,000 $160,553

    Dow Chemical Employees''s average total fees were $3,000, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 751 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 177 $31,345,000 $177,090
    4-5% 171 $28,045,000 $164,006
    5-6% 161 $27,555,000 $171,149
    6-7% 125 $17,675,000 $141,400
    2.5-3% 42 $6,600,000 $157,143
    7-8% 40 $5,580,000 $139,500
    <2.5% 18 $1,920,000 $106,667
    Over 8% 17 $1,855,000 $109,118

    During 2022, Dow Chemical Employees''s average interest rate for loans was 5.15%, while their most frequently originated rate bucket for loans was 3-4%, with 177 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 297 $43,115,000 $145,168 $2,446 4.92%
    $100,000 or less 240 $14,480,000 $60,333 $1,320 5.09%
    $200k-400k 191 $51,575,000 $270,026 $3,339 4.91%
    $400k-600k 21 $10,095,000 $480,714 $4,030 4.84%
    $600k-1MM 2 $1,310,000 $655,000 $6,640 4.06%

    2022 saw Dow Chemical Employees' place emphasis on $100k-200k loans with 297 originations, totaling $43,115,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 195 $34,375,000 $176,282 $2,400 5.09%
    $50k-75k 161 $19,495,000 $121,087 $2,154 4.92%
    $75k-100k 150 $21,840,000 $145,600 $2,393 4.98%
    $150k-250k 115 $27,125,000 $235,870 $2,675 4.96%
    $50k or less 105 $9,655,000 $91,952 $2,186 4.67%
    $250k+ 25 $8,085,000 $323,400 $2,720 5.53%

    Dow Chemical Employees' lent most frequently to those with incomes in the $100k-150k range, with 195 originations. The second most popular income band? $50k-75k, with 161 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 204 $36,390,000 $178,382 $2,542 4.96%
    30-36% 148 $22,680,000 $153,243 $2,282 5.09%
    <20% 108 $15,370,000 $142,315 $2,033 4.56%
    44% 39 $5,045,000 $129,359 $1,881 4.99%
    37% 29 $5,165,000 $178,103 $2,957 5.04%
    40% 28 $4,400,000 $157,143 $2,420 5.08%
    38% 26 $4,880,000 $187,692 $3,128 5.13%
    42% 25 $4,685,000 $187,400 $2,281 4.85%
    43% 24 $4,020,000 $167,500 $2,225 4.94%
    39% 23 $4,005,000 $174,130 $2,511 5.01%
    41% 21 $2,985,000 $142,143 $2,840 5.17%
    36% 20 $2,660,000 $133,000 $2,403 4.55%
    47% 18 $2,570,000 $142,778 $2,012 5.42%
    46% 14 $2,260,000 $161,429 $2,609 5.23%
    45% 10 $1,670,000 $167,000 $2,158 5.61%
    48% 8 $730,000 $91,250 $1,556 5.17%
    49% 4 $770,000 $192,500 $2,129 5.06%
    50-60% 2 $290,000 $145,000 $1,856 6.56%

    Dow Chemical Employees' lent most frequently to those with DTI ratios of 20-30%, with 204 originations. The next most common DTI ratio? 30-36%, with 148 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 531 $82,895,000 $156,111 $2,313 4.95%
    Not provided 205 $34,825,000 $169,878 $2,514 4.99%
    Asian 8 $2,230,000 $278,750 $2,398 5.22%
    American Indian 4 $440,000 $110,000 $2,808 4.91%
    Black 3 $185,000 $61,667 $1,655 6.54%

    Approval Rates

    Total approvals of all applications
    99.38%

    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
    61.25%

    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 751 $120,575,000 $160,553

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    751 $120,575,000 $160,553

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 80 $6,350,000 $79,375 $1,386 4.84%
    40-60% 101 $14,485,000 $143,416 $1,860 4.46%
    60-80% 242 $45,930,000 $189,793 $2,038 4.72%
    80-100% 242 $49,980,000 $206,529 $3,825 5.13%
    Under 20% 86 $3,830,000 $44,535 $713 5.93%