Dow Chemical Employees' Mortgage Rates, Fees & Info

Midland, MI

LEI: 549300EWYXV06QXJH078

Tax ID: 38-0495567

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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 Refi, Cash Out Refi, and Home Purchase 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 21 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.

    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% 4/21/24
    30 Year Conventional Refi 6.43% 4/21/24
    30 Year Cash-out Refi 6.77% 4/21/24
    15 Year Conventional Purchase 5.91% 4/21/24
    15 Year Conventional Refi 5.86% 4/21/24
    15 Year Cash-out Refi 5.86% 4/21/24
    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

    1,288

    Origination Dollar Volume (All Markets)

    $195,780,000

    Awards

    DOW CHEMICAL EMPLOYEES' 30 Year Conventional Loans silver DOW CHEMICAL EMPLOYEES' 30 Year Conventional Loans silver DOW CHEMICAL EMPLOYEES' 30 Year Conventional Loans bronze
    Show all (3) awards

    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) 620 $94,590,000 $152,565 $2,009 3.50%
    SAGINAW, MI (FHA|USDA|VA) 151 $22,465,000 $148,775 $2,118 3.48%
    BAY CITY, MI (FHA|USDA|VA) 167 $21,065,000 $126,138 $1,911 3.42%
    Outside of Metro Areas 146 $18,420,000 $126,164 $1,892 3.57%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 59 $12,445,000 $210,932 $2,180 3.56%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 34 $6,890,000 $202,647 $2,221 3.46%
    Traverse City, MI (FHA|USDA|VA) 15 $4,085,000 $272,333 $2,360 3.53%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 20 $3,400,000 $170,000 $1,965 3.68%
    FLINT, MI (FHA|USDA|VA) 10 $2,360,000 $236,000 $2,387 3.68%
    Mount Pleasant, MI (FHA|USDA|VA) 20 $2,190,000 $109,500 $1,548 3.70%
    ANN ARBOR, MI (FHA|USDA|VA) 8 $1,760,000 $220,000 $2,230 3.58%
    NILES, MI (FHA|USDA|VA) 6 $1,390,000 $231,667 $2,594 3.46%
    KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 6 $1,210,000 $201,667 $2,235 3.44%
    Alma, MI (FHA|USDA|VA) 10 $750,000 $75,000 $2,055 3.46%
    Holland, MI (FHA|USDA|VA) 3 $575,000 $191,667 $1,869 3.79%
    MUSKEGON, MI (FHA|USDA|VA) 3 $575,000 $191,667 $1,368 4.33%
    Big Rapids, MI (FHA|USDA|VA) 3 $565,000 $188,333 $1,842 3.46%
    Ludington, MI (FHA|USDA|VA) 3 $325,000 $108,333 $1,667 3.58%
    Houghton, MI (FHA|USDA|VA) 1 $275,000 $275,000 $4,420 3.25%
    Adrian, MI (FHA|USDA|VA) 2 $260,000 $130,000 $2,922 3.38%
    MONROE, MI (FHA|USDA|VA) 1 $185,000 $185,000 $2,927 3.25%
    Dow Chemical Employees''s top markets include Midland, Saginaw, Bay City, Detroit, and Grand Rapids 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.

    Great Lakes Federal Credit Union
    Similarity Rank: 28
    FinancialEdge Community Credit Union
    Similarity Rank: 54
    SUNRISE FAMILY CREDIT UNION
    Similarity Rank: 55
    HEALTH ADVANTAGE FEDERAL CREDIT UNION
    Similarity Rank: 154
    JOLT CREDIT UNION
    Similarity Rank: 171
    Community West Credit Union
    Similarity Rank: 210
    KENT COUNTY CREDIT UNION
    Similarity Rank: 235
    ADVANTAGE ONE Credit Union
    Similarity Rank: 287
    SECURITY CREDIT UNION
    Similarity Rank: 387
    St James Mortgage Corporation
    Similarity Rank: 408

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,288 $195,780,000 $152,003 $2,015 3.50%

    For 2020, Dow Chemical Employees''s most frequently originated type of loan was Conventional, with 1,288 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 437 $63,885,000 $146,190 $1,733 3.31%
    Cash Out Refi 416 $61,230,000 $147,188 $1,638 3.64%
    Home Purchase 386 $65,660,000 $170,104 $2,836 3.52%
    Home Improvement 49 $5,005,000 $102,143 $1,279 3.96%

    For 2020, Dow Chemical Employees''s most frequently cited loan purpose was Refi, with 437 originations. The 2nd most popular reason was Cash Out Refi, with 416 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 546 $96,030,000 $175,879 $2,573 3.66%
    15 Year 433 $58,225,000 $134,469 $1,564 3.37%
    20 Year 159 $24,765,000 $155,755 $1,813 3.48%
    10 Year 117 $11,935,000 $102,009 $1,445 3.18%
    Other 25 $4,615,000 $184,600 $2,113 3.64%
    5 Year 8 $210,000 $26,250 $288 4.63%

    For 2020, Dow Chemical Employees''s most frequently cited loan duration was 30 Year, with 546 originations. The 2nd most popular length was 15 Year, with 433 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,286 $195,640,000 $152,131

    Dow Chemical Employees''s average total fees were $2,573, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,286 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 716 $115,580,000 $161,425
    2.5-3% 284 $39,890,000 $140,458
    4-5% 263 $36,595,000 $139,144
    <2.5% 24 $3,680,000 $153,333
    5-6% 1 $35,000 $35,000

    During 2020, Dow Chemical Employees''s average interest rate for loans was 3.66%, while their most frequently originated rate bucket for loans was 3-4%, with 716 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 591 $84,595,000 $143,139 $2,141 3.45%
    $100,000 or less 385 $24,975,000 $64,870 $1,386 3.63%
    $200k-400k 292 $76,760,000 $262,877 $2,513 3.43%
    $400k-600k 19 $8,845,000 $465,526 $3,156 3.70%
    $600k-1MM 1 $605,000 $605,000 $2,460 4.13%

    2020 saw Dow Chemical Employees' place emphasis on $100k-200k loans with 591 originations, totaling $84,595,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 372 $64,180,000 $172,527 $1,974 3.50%
    $50k-75k 274 $31,110,000 $113,540 $2,007 3.52%
    $75k-100k 252 $34,710,000 $137,738 $2,047 3.51%
    $150k-250k 194 $42,080,000 $216,907 $2,137 3.48%
    $50k or less 163 $13,985,000 $85,798 $1,840 3.53%
    $250k+ 33 $9,715,000 $294,394 $2,459 3.38%

    Dow Chemical Employees' lent most frequently to those with incomes in the $100k-150k range, with 372 originations. The second most popular income band? $50k-75k, with 274 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 428 $68,310,000 $159,603 $2,059 3.46%
    30-36% 271 $40,695,000 $150,166 $2,092 3.59%
    <20% 246 $35,610,000 $144,756 $1,867 3.29%
    38% 48 $7,040,000 $146,667 $2,304 3.60%
    36% 36 $5,230,000 $145,278 $2,431 3.60%
    37% 36 $4,790,000 $133,056 $1,949 3.67%
    39% 35 $4,775,000 $136,429 $1,891 3.65%
    42% 29 $4,465,000 $153,966 $1,707 3.47%
    41% 29 $4,535,000 $156,379 $1,851 3.79%
    40% 26 $4,050,000 $155,769 $2,305 3.55%
    43% 24 $4,350,000 $181,250 $2,166 3.77%
    44% 17 $2,325,000 $136,765 $1,898 3.82%
    45% 17 $2,875,000 $169,118 $1,950 3.53%
    46% 14 $1,910,000 $136,429 $1,596 3.69%
    47% 12 $1,960,000 $163,333 $1,899 3.57%
    48% 7 $615,000 $87,857 $1,381 3.55%
    49% 7 $1,155,000 $165,000 $1,506 3.73%
    50-60% 6 $1,090,000 $181,667 $1,276 3.98%

    Dow Chemical Employees' lent most frequently to those with DTI ratios of 20-30%, with 428 originations. The next most common DTI ratio? 30-36%, with 271 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 906 $134,500,000 $148,455 $1,905 3.49%
    Not provided 360 $56,920,000 $158,111 $2,233 3.54%
    Asian 9 $1,695,000 $188,333 $2,707 3.65%
    Asian Indian 3 $925,000 $308,333 $3,440 3.13%
    Black 5 $905,000 $181,000 $3,877 3.15%
    American Indian 4 $640,000 $160,000 $2,310 3.47%
    Other Asian 1 $195,000 $195,000 $1,805 2.75%

    Approval Rates

    Total approvals of all applications
    99.04%

    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
    51.86%

    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 1,288 $195,780,000 $152,003

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 30 $2,340,000 $78,000
    Single Family (1-4 Units):Site-Built 1,258 $193,440,000 $153,768

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 91 $7,755,000 $85,220 $1,263 3.53%
    40-60% 229 $29,095,000 $127,052 $1,580 3.31%
    60-80% 571 $97,055,000 $169,974 $1,778 3.48%
    80-100% 344 $60,380,000 $175,523 $3,152 3.49%
    Under 20% 53 $1,495,000 $28,208 $350 4.65%