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 Refi and Home Purchase loans. University Of Illinois Community has a high proportion of conventional loans. Their top markets by origination volume include: Champaign, Danville, Chicago, Effingham, and Jacksonville 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 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 6.55% 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

    177

    Origination Dollar Volume (All Markets)

    $26,325,000

    Awards

    UNIVERSITY OF ILLINOIS COMMUNITY 30 Year Conventional Loans silver UNIVERSITY OF ILLINOIS COMMUNITY 30 Year Conventional Loans gold
    Show all (2) 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) 142 $22,150,000 $155,986 $1,644 2.91%
    Outside of Metro Areas 14 $1,540,000 $110,000 $1,723 2.72%
    DANVILLE, IL (FHA|USDA|VA) 12 $1,120,000 $93,333 $1,658 2.99%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 3 $675,000 $225,000 $2,672 2.83%
    Effingham, IL (FHA|USDA|VA) 1 $235,000 $235,000 $1,856 3.13%
    Jacksonville, IL (FHA|USDA|VA) 2 $230,000 $115,000 $1,747 3.13%
    Dixon, IL (FHA|USDA|VA) 1 $165,000 $165,000 $2,762 2.88%
    BLOOMINGTON, IL (FHA|USDA|VA) 1 $115,000 $115,000 $1,805 2.50%
    Charleston-Mattoon, IL (FHA|USDA|VA) 1 $95,000 $95,000 $1,865 3.25%
    University Of Illinois Community's top markets include Champaign, Danville, Chicago, Effingham, and Jacksonville 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.

    Prairie State Bank and Trust
    Similarity Rank: 160
    UNIVERSITY OF ILLINOIS COMMUNITY
    Similarity Rank: 216
    Marine Bank
    Similarity Rank: 236
    INB
    Similarity Rank: 584
    First Mid Bank & Trust
    Similarity Rank: 640
    Heartland Bank and Trust Company
    Similarity Rank: 954
    Petefish, Skiles & Co.
    Similarity Rank: 1131
    Community Mortgage Banc Corporation
    Similarity Rank: 1736
    Midland States Bank
    Similarity Rank: 2001
    First Financial Bank
    Similarity Rank: 2278

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 177 $26,325,000 $148,729 $1,680 2.90%

    For 2020, University Of Illinois Community's most frequently originated type of loan was Conventional, with 177 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 107 $15,775,000 $147,430 $1,620 2.79%
    Home Purchase 44 $7,130,000 $162,045 $1,768 3.12%
    Cash Out Refi 26 $3,420,000 $131,538 $1,777 3.00%

    For 2020, University Of Illinois Community's most frequently cited loan purpose was Refi, with 107 originations. The 2nd most popular reason was Home Purchase, with 44 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 89 $14,565,000 $163,652 $1,722 3.17%
    15 Year 74 $9,900,000 $133,784 $1,657 2.58%
    10 Year 7 $695,000 $99,286 $1,598 2.77%
    20 Year 7 $1,165,000 $166,429 $1,464 3.00%

    For 2020, University Of Illinois Community's most frequently cited loan duration was 30 Year, with 89 originations. The 2nd most popular length was 15 Year, with 74 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 177 $26,325,000 $148,729

    University Of Illinois Community's average total fees were $1,722, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 177 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 75 $12,095,000 $161,267
    3-4% 55 $7,735,000 $140,636
    <2.5% 45 $6,255,000 $139,000
    4-5% 2 $240,000 $120,000

    During 2020, University Of Illinois Community's average interest rate for loans was 3.17%, while their most frequently originated rate bucket for loans was 2.5-3%, with 75 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 95 $13,085,000 $137,737 $1,669 2.93%
    $100,000 or less 46 $3,270,000 $71,087 $1,665 2.86%
    $200k-400k 32 $8,120,000 $253,750 $1,733 2.89%
    $400k-600k 4 $1,850,000 $462,500 $1,689 2.88%

    2020 saw University Of Illinois Community place emphasis on $100k-200k loans with 95 originations, totaling $13,085,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 49 $7,605,000 $155,204 $1,679 2.84%
    $50k-75k 43 $5,215,000 $121,279 $1,637 3.00%
    $75k-100k 41 $6,075,000 $148,171 $1,745 2.89%
    $50k or less 18 $1,320,000 $73,333 $1,687 2.96%
    $150k-250k 16 $3,310,000 $206,875 $1,766 2.91%
    $250k+ 8 $2,300,000 $287,500 $1,537 2.73%

    University Of Illinois Community lent most frequently to those with incomes in the $100k-150k range, with 49 originations. The second most popular income band? $50k-75k, with 43 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 66 $10,480,000 $158,788 $1,728 2.88%
    <20% 34 $4,920,000 $144,706 $1,641 2.80%
    30-36% 28 $4,510,000 $161,071 $1,618 2.91%
    38% 9 $745,000 $82,778 $1,664 2.76%
    37% 7 $1,075,000 $153,571 $1,770 3.36%
    44% 7 $915,000 $130,714 $1,731 2.84%
    39% 6 $710,000 $118,333 $1,701 2.96%
    40% 4 $610,000 $152,500 $1,720 3.22%
    36% 4 $510,000 $127,500 $1,505 2.84%
    48% 3 $255,000 $85,000 $1,542 3.13%
    41% 2 $370,000 $185,000 $1,806 3.13%
    43% 2 $370,000 $185,000 $1,845 2.75%
    47% 2 $200,000 $100,000 $1,669 3.38%
    49% 1 $135,000 $135,000 $1,210 2.88%
    45% 1 $285,000 $285,000 $1,268 2.63%
    46% 1 $235,000 $235,000 $1,856 3.13%

    University Of Illinois Community lent most frequently to those with DTI ratios of 20-30%, with 66 originations. The next most common DTI ratio? <20%, with 34 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not provided 108 $15,580,000 $144,259 $1,751 2.89%
    White 65 $10,005,000 $153,923 $1,568 2.93%
    Asian 3 $665,000 $221,667 $1,526 2.46%
    Black 1 $75,000 $75,000 $1,775 3.63%

    Approval Rates

    Total approvals of all applications
    98.40%

    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
    97.74%

    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 177 $26,325,000 $148,729

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 177 $26,325,000 $148,729

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $670,000 $83,750 $1,710 2.89%
    40-60% 25 $2,665,000 $106,600 $1,654 2.76%
    60-80% 76 $11,510,000 $151,447 $1,686 2.86%
    80-100% 67 $11,455,000 $170,970 $1,677 3.01%
    Under 20% 1 $25,000 $25,000 $1,834 2.50%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Universal Capital Services, Inc. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 66.7%
    Universal Capital Services, Inc. Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 33.3%