Land Of Lincoln Credit Union Mortgage Rates, Fees & Info
Decatur, ILLEI: 549300JY7AI2T0M8WT17
Tax ID: 37-0643547
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Mortgage Data
Review & Overview
Land Of Lincoln Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Land Of Lincoln Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Decatur, Charleston, Taylorville, Champaign, and Springfield among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)Land Of Lincoln Credit Union 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. They typically have about average rates.
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Originations
245Origination Dollar Volume (All Markets)
$14,095,000Top 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 |
|---|---|---|---|---|---|
| DECATUR, IL (FHA|USDA|VA) | 140 | $8,610,000 | $61,500 | $0 | 4.68% |
| Outside of Metro Areas | 47 | $1,945,000 | $41,383 | $0 | 4.61% |
| Charleston-Mattoon, IL (FHA|USDA|VA) | 14 | $890,000 | $63,571 | $0 | 4.76% |
| Taylorville, IL (FHA|USDA|VA) | 17 | $875,000 | $51,471 | $0 | 4.34% |
| CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 8 | $510,000 | $63,750 | $0 | 4.24% |
| SPRINGFIELD, IL (FHA|USDA|VA) | 5 | $375,000 | $75,000 | $0 | 4.43% |
| Effingham, IL (FHA|USDA|VA) | 5 | $365,000 | $73,000 | $0 | 4.06% |
| BLOOMINGTON, IL (FHA|USDA|VA) | 3 | $115,000 | $38,333 | $0 | 3.88% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 6.00% |
| Lincoln, IL (FHA|USDA|VA) | 2 | $90,000 | $45,000 | $0 | 1.90% |
| CARBONDALE-MARION, IL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 5.25% |
| Centralia, IL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 4.75% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 4.25% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 133 | $4,765,000 | $35,827 | n/a | 4.23% |
| Conventional | 112 | $9,330,000 | $83,304 | $0 | 5.01% |
For 2018, Land Of Lincoln Credit Union's most frequently originated type of loan was HELOC, with 133 originations. Their 2nd most popular type was Conventional, with 112 originations.
Loan Reason
For 2018, Land Of Lincoln Credit Union's most frequently cited loan purpose was Refi, with 56 originations. The 2nd most popular reason was Home Purchase, with 55 originations.
Loan Duration/Length
For 2018, Land Of Lincoln Credit Union's most frequently cited loan duration was 10 Year, with 70 originations. The 2nd most popular length was 5 Year, with 62 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 102 | $6,230,000 | $61,078 |
| 4-5% | 89 | $5,035,000 | $56,573 |
| <2.5% | 33 | $1,015,000 | $30,758 |
| 3-4% | 15 | $1,635,000 | $109,000 |
| 6-7% | 6 | $180,000 | $30,000 |
During 2018, Land Of Lincoln Credit Union's average interest rate for loans was 3.71%, while their most frequently originated rate bucket for loans was 5-6%, with 102 originations.
Loan Sizing
2018 saw Land Of Lincoln Credit Union place emphasis on $100,000 or less loans with 218 originations, totaling $8,730,000 in origination value.
Applicant Income
Land Of Lincoln Credit Union lent most frequently to those with incomes in the $50k-75k range, with 70 originations. The second most popular income band? $50k or less, with 58 originations.
Applicant Debt to Income Ratio
Land Of Lincoln Credit Union lent most frequently to those with DTI ratios of <20%, with 102 originations. The next most common DTI ratio? 20-30%, with 44 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.36%
Land Of Lincoln Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination89.39%
Land Of Lincoln Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 245 | $14,095,000 | $57,531 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 3 | $585,000 | $195,000 |
| Single Family (1-4 Units):Site-Built | 242 | $13,510,000 | $55,826 |