University Of Illinois Community Mortgage Rates, Fees & Info

Champaign, IL

LEI: 549300MD1OK70DH5EZ47

Tax ID: 37-0560167

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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 and Refi loans. University Of Illinois Community has a high proportion of conventional loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Champaign, Danville, Chicago, Hickory, and Minneapolis among others. We have data for 11 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 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 6.55% 4/28/24
    30 Year Conventional Refi 6.81% 4/28/24
    15 Year Conventional Purchase 6.19% 4/28/24
    15 Year Conventional Refi 6.61% 4/28/24
    15 Year Cash-out Refi 6.61% 4/28/24
    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

    148

    Origination Dollar Volume (All Markets)

    $21,750,000

    Awards

    UNIVERSITY OF ILLINOIS COMMUNITY 30 Year Conventional Loans gold
    Show all (1) 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
    CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 117 $18,415,000 $157,393 $1,858 4.78%
    Outside of Metro Areas 18 $2,080,000 $115,556 $1,934 4.69%
    DANVILLE, IL (FHA|USDA|VA) 4 $340,000 $85,000 $1,737 5.09%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 2 $300,000 $150,000 $2,694 4.00%
    HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $165,000 $165,000 $2,276 4.75%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $105,000 $105,000 $2,831 5.63%
    Tullahoma-Manchester, TN (FHA|USDA|VA) 1 $105,000 $105,000 $2,285 5.13%
    ROCKFORD, IL (FHA|USDA|VA) 1 $85,000 $85,000 $2,527 5.50%
    DECATUR, IL (FHA|USDA|VA) 1 $65,000 $65,000 $1,809 4.63%
    Charleston-Mattoon, IL (FHA|USDA|VA) 1 $55,000 $55,000 $1,824 4.38%
    SPRINGFIELD, IL (FHA|USDA|VA) 1 $35,000 $35,000 $1,839 4.75%
    University Of Illinois Community's top markets include Champaign, Danville, Chicago, Hickory, and Minneapolis among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Tennessee (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.

    First Bank & Trust IL
    Similarity Rank: 45
    The Fisher National Bank
    Similarity Rank: 90
    Paramount Bond & Mortgage Co Inc.
    Similarity Rank: 270
    UNIVERSITY OF ILLINOIS COMMUNITY
    Similarity Rank: 275
    Marine Bank
    Similarity Rank: 287
    Prospect Bank
    Similarity Rank: 308
    First Mid Bank & Trust
    Similarity Rank: 406
    Heartland Bank and Trust Company
    Similarity Rank: 432
    INB
    Similarity Rank: 731
    First Financial Bank
    Similarity Rank: 1110

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 134 $20,080,000 $149,851 $1,732 4.80%
    USDA 8 $820,000 $102,500 $2,876 4.67%
    FHA 3 $445,000 $148,333 $5,575 4.75%
    VA 3 $405,000 $135,000 $2,696 4.13%

    For 2018, University Of Illinois Community's most frequently originated type of loan was Conventional, with 134 originations. Their 2nd most popular type was USDA, with 8 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 99 $15,095,000 $152,475 $1,973 4.79%
    Refi 29 $4,745,000 $163,621 $1,670 4.77%
    Cash Out Refi 20 $1,910,000 $95,500 $1,811 4.74%

    For 2018, University Of Illinois Community's most frequently cited loan purpose was Home Purchase, with 99 originations. The 2nd most popular reason was Refi, with 29 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 108 $16,980,000 $157,222 $1,950 4.90%
    15 Year 28 $3,330,000 $118,929 $1,689 4.41%
    20 Year 8 $1,170,000 $146,250 $1,938 4.63%
    10 Year 4 $270,000 $67,500 $1,650 4.31%

    For 2018, University Of Illinois Community's most frequently cited loan duration was 30 Year, with 108 originations. The 2nd most popular length was 15 Year, with 28 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 144 $21,270,000 $147,708
    $2k-3k 2 $190,000 $95,000
    $1k-2k 1 $85,000 $85,000
    $4k-5k 1 $205,000 $205,000

    University Of Illinois Community's average total fees were $1,950, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 144 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 94 $13,460,000 $143,191
    5-6% 43 $5,565,000 $129,419
    3-4% 11 $2,725,000 $247,727

    During 2018, University Of Illinois Community's average interest rate for loans was 4.90%, while their most frequently originated rate bucket for loans was 4-5%, with 94 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 60 $8,550,000 $142,500 $1,903 4.81%
    $100,000 or less 58 $4,090,000 $70,517 $1,797 4.80%
    $200k-400k 27 $7,195,000 $266,481 $2,099 4.72%
    $400k-600k 2 $910,000 $455,000 $1,759 4.31%
    $1MM+ 1 $1,005,000 $1,005,000 $1,365 3.50%

    2018 saw University Of Illinois Community place emphasis on $100k-200k loans with 60 originations, totaling $8,550,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 46 $5,410,000 $117,609 $1,828 4.86%
    $50k or less 35 $3,175,000 $90,714 $2,149 4.86%
    $100k-150k 28 $5,410,000 $193,214 $1,834 4.79%
    $75k-100k 23 $3,045,000 $132,391 $1,822 4.64%
    $150k-250k 12 $2,630,000 $219,167 $1,732 4.55%
    $250k+ 4 $2,080,000 $520,000 $1,643 4.47%

    University Of Illinois Community lent most frequently to those with incomes in the $50k-75k range, with 46 originations. The second most popular income band? $50k or less, with 35 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 37 $5,965,000 $161,216 $1,727 4.72%
    30-36% 31 $4,495,000 $145,000 $1,927 4.66%
    <20% 16 $1,510,000 $94,375 $1,722 4.64%
    43% 9 $1,155,000 $128,333 $2,075 4.90%
    39% 8 $1,590,000 $198,750 $2,908 4.58%
    41% 7 $945,000 $135,000 $1,704 5.14%
    42% 7 $835,000 $119,286 $1,950 4.80%
    36% 6 $810,000 $135,000 $1,644 5.17%
    37% 5 $625,000 $125,000 $1,673 4.45%
    46% 5 $1,085,000 $217,000 $1,883 5.05%
    44% 4 $520,000 $130,000 $2,062 5.28%
    45% 3 $595,000 $198,333 $1,648 5.17%
    40% 3 $535,000 $178,333 $1,619 4.58%
    47% 2 $290,000 $145,000 $2,962 5.06%
    50-60% 2 $360,000 $180,000 $1,828 4.75%
    48% 1 $55,000 $55,000 $2,089 5.63%
    49% 1 $235,000 $235,000 $2,781 4.75%
    >60% 1 $145,000 $145,000 $1,103 4.63%

    University Of Illinois Community lent most frequently to those with DTI ratios of 20-30%, with 37 originations. The next most common DTI ratio? 30-36%, with 31 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 130 $19,000,000 $146,154 $1,847 4.77%
    Black 10 $1,040,000 $104,000 $2,436 4.94%
    Asian 4 $900,000 $225,000 $1,595 4.69%
    Not provided 4 $810,000 $202,500 $2,291 4.56%

    Approval Rates

    Total approvals of all applications
    99.37%

    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
    98.65%

    University Of Illinois Community has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 148 $21,750,000 $146,959

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 148 $21,750,000 $146,959

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 9 $595,000 $66,111 $1,671 4.50%
    40-60% 8 $700,000 $87,500 $1,654 4.38%
    60-80% 40 $5,860,000 $146,500 $1,798 4.84%
    80-100% 90 $14,490,000 $161,000 $1,963 4.82%
    Over 100% 1 $105,000 $105,000 $3,049 4.63%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    University Lending Group, LLC Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%