University Of Illinois Community Mortgage Rates, Fees & Info

Champaign, IL

LEI: 549300MD1OK70DH5EZ47

Tax ID: 37-0560167

5 stars - Updated: 4/21/24 - out of 5 stars, based on 11 reviews

Latest/2023 | 2022 Data | 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

    University Of Illinois Community is a smaller mortgage company specializing in Home Purchase loans. University Of Illinois Community has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Champaign, Chicago, Bloomington, Danville, and Decatur among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    University Of Illinois Community has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. University Of Illinois Community 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 6.55% 4/21/24
    30 Year Conventional Refi 6.81% 4/21/24
    15 Year Conventional Purchase 6.19% 4/21/24
    15 Year Conventional Refi 6.61% 4/21/24
    15 Year Cash-out Refi 6.61% 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.

    University Of Illinois Community Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from University Of Illinois Community. 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

    123

    Origination Dollar Volume (All Markets)

    $26,435,000

    Awards

    UNIVERSITY OF ILLINOIS COMMUNITY 30 Year Conventional Loans gold UNIVERSITY OF ILLINOIS COMMUNITY 30 Year Conventional Loans gold UNIVERSITY OF ILLINOIS COMMUNITY 30 Year Conventional Loans bronze UNIVERSITY OF ILLINOIS COMMUNITY 30 Year Conventional Loans bronze
    Show all (4) awards

    Relative Rate

    University Of Illinois Community's average 30 year fixed mortgage rate was 6.27%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of -0.21%.

    Relative Fees (Closing Costs)

    University Of Illinois Community's average total fees/closing costs for a 30 year fixed rate mortgage were $2,030.

    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
    CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 93 $19,125,000 $205,645 $1,810 6.25%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 8 $3,270,000 $408,750 $4,577 6.02%
    Outside of Metro Areas 11 $1,825,000 $165,909 $2,056 6.38%
    BLOOMINGTON, IL (FHA|USDA|VA) 4 $920,000 $230,000 $2,283 6.16%
    DANVILLE, IL (FHA|USDA|VA) 2 $550,000 $275,000 $1,459 7.00%
    DECATUR, IL (FHA|USDA|VA) 2 $320,000 $160,000 $1,913 6.25%
    Effingham, IL (FHA|USDA|VA) 1 $145,000 $145,000 $1,063 6.25%
    PEORIA, IL (FHA|USDA|VA) 1 $145,000 $145,000 $2,126 6.50%
    Quincy, IL-MO (FHA|USDA|VA) 1 $135,000 $135,000 $2,056 6.25%
    University Of Illinois Community's top markets include Champaign, Chicago, Bloomington, Danville, and Decatur among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against UNIVERSITY OF ILLINOIS COMMUNITY based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    UNIVERSITY OF ILLINOIS COMMUNITY
    Similarity Rank: 45
    Marine Bank
    Similarity Rank: 76
    First Mid Bank & Trust
    Similarity Rank: 336
    Heartland Bank and Trust Company
    Similarity Rank: 387
    Busey Bank
    Similarity Rank: 594
    Morton Community Bank
    Similarity Rank: 735
    INB
    Similarity Rank: 864
    Midland States Bank
    Similarity Rank: 1050
    POINT Mortgage
    Similarity Rank: 1534
    Mortgage Research Center, LLC
    Similarity Rank: 1836

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 122 $26,320,000 $215,738 $2,011 6.26%
    USDA 1 $115,000 $115,000 $3,330 6.00%

    For 2023, University Of Illinois Community's most frequently originated type of loan was Conventional, with 122 originations. Their 2nd most popular type was USDA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 114 $24,860,000 $218,070 $2,042 6.26%
    Refi 9 $1,575,000 $175,000 $1,763 6.21%

    For 2023, University Of Illinois Community's most frequently cited loan purpose was Home Purchase, with 114 originations. The 2nd most popular reason was Refi, with 9 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 110 $24,380,000 $221,636 $2,030 6.27%
    15 Year 10 $1,700,000 $170,000 $2,015 6.13%
    20 Year 2 $200,000 $100,000 $1,553 6.63%
    10 Year 1 $155,000 $155,000 $2,055 6.00%

    For 2023, University Of Illinois Community's most frequently cited loan duration was 30 Year, with 110 originations. The 2nd most popular length was 15 Year, with 10 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 122 $26,310,000 $215,656
    $1k-2k 1 $125,000 $125,000

    University Of Illinois Community's average total fees were $2,030, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 122 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 68 $14,530,000 $213,676
    5-6% 44 $8,970,000 $203,864
    7-8% 7 $1,365,000 $195,000
    4-5% 2 $800,000 $400,000
    3-4% 1 $535,000 $535,000
    Over 8% 1 $235,000 $235,000

    During 2023, University Of Illinois Community's average interest rate for loans was 6.27%, while their most frequently originated rate bucket for loans was 6-7%, with 68 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 49 $7,275,000 $148,469 $1,944 6.35%
    $200k-400k 47 $13,225,000 $281,383 $2,025 6.33%
    $100,000 or less 18 $1,250,000 $69,444 $1,884 6.17%
    $400k-600k 7 $3,315,000 $473,571 $2,442 5.57%
    $600k-1MM 2 $1,370,000 $685,000 $3,610 5.56%

    2023 saw University Of Illinois Community place emphasis on $100k-200k loans with 49 originations, totaling $7,275,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 33 $7,055,000 $213,788 $1,930 6.31%
    $150k-250k 33 $9,425,000 $285,606 $2,125 6.31%
    $75k-100k 22 $3,470,000 $157,727 $1,829 6.26%
    $50k-75k 19 $2,535,000 $133,421 $1,899 6.25%
    $50k or less 9 $1,125,000 $125,000 $1,919 6.39%
    $250k+ 7 $2,825,000 $403,571 $3,032 5.64%

    University Of Illinois Community lent most frequently to those with incomes in the $100k-150k range, with 33 originations. The second most popular income band? $150k-250k, with 33 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 35 $8,245,000 $235,571 $2,262 6.29%
    20-30% 34 $7,140,000 $210,000 $2,054 6.01%
    <20% 15 $2,825,000 $188,333 $1,797 6.38%
    42% 5 $505,000 $101,000 $2,181 6.58%
    37% 5 $1,425,000 $285,000 $1,955 6.20%
    38% 5 $1,145,000 $229,000 $1,784 6.20%
    36% 4 $940,000 $235,000 $1,910 6.25%
    43% 4 $890,000 $222,500 $1,919 6.56%
    44% 4 $830,000 $207,500 $1,871 6.34%
    49% 2 $280,000 $140,000 $1,885 6.50%
    39% 2 $360,000 $180,000 $1,525 6.56%
    45% 2 $260,000 $130,000 $1,893 7.00%
    47% 2 $450,000 $225,000 $1,691 6.50%
    46% 1 $255,000 $255,000 $1,593 6.38%
    40% 1 $225,000 $225,000 $1,566 5.88%
    41% 1 $245,000 $245,000 $1,566 6.13%
    48% 1 $415,000 $415,000 $1,561 6.75%

    University Of Illinois Community lent most frequently to those with DTI ratios of 30-36%, with 35 originations. The next most common DTI ratio? 20-30%, with 34 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not provided 51 $13,385,000 $262,451 $2,244 6.21%
    White 64 $11,130,000 $173,906 $1,848 6.32%
    Asian 6 $1,530,000 $255,000 $1,897 6.00%
    Black 2 $390,000 $195,000 $2,252 6.56%

    Approval Rates

    Total approvals of all applications
    99.24%

    University Of Illinois Community 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
    93.50%

    University Of Illinois Community has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 123 $26,435,000 $214,919

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    123 $26,435,000 $214,919

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 4 $550,000 $137,500 $1,694 5.69%
    40-60% 7 $1,105,000 $157,857 $1,952 6.18%
    60-80% 34 $7,270,000 $213,824 $2,054 6.16%
    80-100% 77 $17,445,000 $226,558 $2,031 6.35%
    Under 20% 1 $65,000 $65,000 $2,006 5.88%