Illinois State Credit Union Mortgage Rates, Fees & Info

Normal, IL

LEI: 549300TOZIPCBM0DLH67

Tax ID: 37-0805312

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

    Illinois State Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Illinois State Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Bloomington, Chicago, Rockford, Charlotte, and Phoenix among others. We have data for 43 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Illinois State Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Illinois State Credit Union 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
    Home Equity Line of Credit (HELOC) 6.27% 11/21/24
    30 Year Conventional Purchase 6.35% 11/21/24
    30 Year Conventional Refi 6.07% 11/21/24
    30 Year Cash-out Refi 6.30% 11/21/24
    15 Year Conventional Purchase 6.14% 11/21/24
    15 Year Conventional Refi 6.13% 11/21/24
    15 Year Cash-out Refi 6.13% 11/21/24
    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.

    Illinois State Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Illinois State Credit Union. 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

    551

    Origination Dollar Volume (All Markets)

    $92,295,000
    Show all (8) 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
    BLOOMINGTON, IL (FHA|USDA|VA) 280 $38,790,000 $138,536 $1,254 2.82%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 88 $22,540,000 $256,136 $2,171 2.76%
    Outside of Metro Areas 71 $11,525,000 $162,324 $1,815 3.49%
    ROCKFORD, IL (FHA|USDA|VA) 32 $3,350,000 $104,688 $1,486 2.82%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 8 $2,980,000 $372,500 $2,219 3.02%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 7 $1,995,000 $285,000 $2,014 2.75%
    PEORIA, IL (FHA|USDA|VA) 14 $1,560,000 $111,429 $1,455 2.90%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 4 $910,000 $227,500 $3,034 2.75%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $625,000 $625,000 $3,044 2.50%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $605,000 $605,000 $2,405 2.75%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 2 $520,000 $260,000 $1,942 2.81%
    Freeport, IL (FHA|USDA|VA) 8 $460,000 $57,500 $1,686 3.31%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $385,000 $385,000 $3,035 3.00%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $365,000 $365,000 $3,277 2.63%
    FORT COLLINS, CO (FHA|USDA|VA) 1 $345,000 $345,000 $1,660 2.63%
    Dixon, IL (FHA|USDA|VA) 2 $320,000 $160,000 $1,996 3.50%
    LANCASTER, PA (FHA|USDA|VA) 1 $295,000 $295,000 $3,672 2.50%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $295,000 $295,000 $2,681 2.38%
    Athens, TX (FHA|USDA|VA) 1 $295,000 $295,000 $3,904 2.88%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $285,000 $285,000 $1,777 3.38%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $285,000 $285,000 $1,915 2.88%
    SPARTANBURG, SC (FHA|USDA|VA) 1 $275,000 $275,000 $2,560 2.88%
    EL PASO, TX (FHA|USDA|VA) 1 $265,000 $265,000 $3,241 3.25%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $265,000 $265,000 $3,491 3.00%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $255,000 $255,000 $2,929 2.25%
    Pontiac, IL (FHA|USDA|VA) 2 $250,000 $125,000 $2,286 3.00%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $235,000 $235,000 $2,410 2.63%
    THE VILLAGES, FL (FHA|USDA|VA) 1 $205,000 $205,000 $1,701 2.50%
    CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 1 $175,000 $175,000 $1,545 2.88%
    Sterling, IL (FHA|USDA|VA) 2 $170,000 $85,000 $1,494 3.13%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $165,000 $165,000 $1,702 3.38%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $145,000 $145,000 $1,162 2.50%
    DECATUR, IL (FHA|USDA|VA) 1 $145,000 $145,000 $2,528 2.88%
    WILMINGTON, NC (FHA|USDA|VA) 1 $135,000 $135,000 $1,639 2.50%
    NILES, MI (FHA|USDA|VA) 1 $135,000 $135,000 $1,303 2.88%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $135,000 $135,000 $2,079 3.13%
    Rochelle, IL (FHA|USDA|VA) 2 $130,000 $65,000 $1,972 4.13%
    Lincoln, IL (FHA|USDA|VA) 1 $125,000 $125,000 $988 2.88%
    OSHKOSH-NEENAH, WI (FHA|USDA|VA) 1 $105,000 $105,000 $2,037 2.88%
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 1 $95,000 $95,000 $1,447 2.50%
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 1 $75,000 $75,000 $1,547 3.13%
    Taylorville, IL (FHA|USDA|VA) 1 $65,000 $65,000 $1,268 2.88%
    SPRINGFIELD, IL (FHA|USDA|VA) 1 $15,000 $15,000 $1,877 4.13%
    Illinois State Credit Union's top markets include Bloomington, Chicago, Rockford, Charlotte, and Phoenix among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)
  • (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against ILLINOIS STATE CREDIT UNION 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: 120
    Rock Valley Credit Union
    Similarity Rank: 135
    Mid-Illini Credit Union
    Similarity Rank: 205
    Glenview State Bank
    Similarity Rank: 312
    Liberty Bank for Savings
    Similarity Rank: 312
    CROWN MORTGAGE COMPANY
    Similarity Rank: 627
    AMERITRUST MORTGAGE CORPORATION
    Similarity Rank: 648
    Morton Community Bank
    Similarity Rank: 714
    The Equitable Bank, S.S.B.
    Similarity Rank: 820
    RUHL MORTGAGE, LLC
    Similarity Rank: 988

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 551 $92,295,000 $167,505 $1,599 2.92%

    For 2020, Illinois State Credit Union's most frequently originated type of loan was Conventional, with 551 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 302 $50,950,000 $168,709 $1,195 2.70%
    Home Purchase 217 $36,205,000 $166,843 $2,240 3.25%
    Cash Out Refi 21 $3,215,000 $153,095 $1,048 2.69%
    Home Improvement 11 $1,925,000 $175,000 $1,066 2.73%

    For 2020, Illinois State Credit Union's most frequently cited loan purpose was Refi, with 302 originations. The 2nd most popular reason was Home Purchase, with 217 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 311 $56,785,000 $182,588 $1,889 3.15%
    15 Year 135 $20,795,000 $154,037 $1,321 2.52%
    10 Year 47 $4,885,000 $103,936 $892 2.47%
    20 Year 39 $6,895,000 $176,795 $1,390 2.95%
    Other 17 $2,895,000 $170,294 $942 2.85%
    5 Year 2 $40,000 $20,000 $1,220 3.63%

    For 2020, Illinois State Credit Union's most frequently cited loan duration was 30 Year, with 311 originations. The 2nd most popular length was 15 Year, with 135 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 535 $89,245,000 $166,813
    $1k-2k 10 $1,590,000 $159,000
    $2k-3k 5 $1,165,000 $233,000
    $3k-4k 1 $295,000 $295,000

    Illinois State Credit Union's average total fees were $1,889, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 535 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 262 $50,110,000 $191,260
    <2.5% 156 $23,020,000 $147,564
    3-4% 90 $14,330,000 $159,222
    4-5% 43 $4,835,000 $112,442

    During 2020, Illinois State Credit Union's average interest rate for loans was 3.15%, while their most frequently originated rate bucket for loans was 2.5-3%, with 262 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 258 $37,750,000 $146,318 $1,450 2.89%
    $100,000 or less 145 $10,065,000 $69,414 $1,367 3.00%
    $200k-400k 133 $37,005,000 $278,233 $1,956 2.89%
    $400k-600k 13 $6,245,000 $480,385 $3,303 2.88%
    $600k-1MM 2 $1,230,000 $615,000 $2,724 2.63%

    2020 saw Illinois State Credit Union place emphasis on $100k-200k loans with 258 originations, totaling $37,750,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 126 $21,190,000 $168,175 $1,628 2.91%
    $50k-75k 122 $14,840,000 $121,639 $1,468 3.02%
    $100k-150k 120 $26,010,000 $216,750 $1,569 2.78%
    $50k or less 102 $9,490,000 $93,039 $1,605 3.17%
    $150k-250k 69 $16,835,000 $243,986 $1,687 2.65%
    $250k+ 12 $3,930,000 $327,500 $2,371 2.79%

    Illinois State Credit Union lent most frequently to those with incomes in the $75k-100k range, with 126 originations. The second most popular income band? $50k-75k, with 122 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 178 $31,200,000 $175,281 $1,533 2.83%
    30-36% 107 $18,605,000 $173,879 $1,521 2.92%
    <20% 99 $14,075,000 $142,172 $1,468 2.88%
    40% 17 $3,595,000 $211,471 $1,253 2.97%
    50-60% 16 $2,410,000 $150,625 $1,947 3.16%
    39% 16 $3,420,000 $213,750 $2,176 3.01%
    45% 15 $2,085,000 $139,000 $1,918 3.25%
    36% 13 $1,985,000 $152,692 $2,105 2.77%
    42% 11 $1,585,000 $144,091 $1,419 2.92%
    37% 11 $2,165,000 $196,818 $1,784 3.01%
    44% 10 $1,420,000 $142,000 $1,564 2.98%
    41% 10 $1,430,000 $143,000 $1,489 3.00%
    43% 10 $1,860,000 $186,000 $2,509 2.99%
    49% 7 $1,555,000 $222,143 $2,186 2.93%
    38% 7 $1,105,000 $157,857 $1,613 2.86%
    48% 7 $915,000 $130,714 $1,680 3.02%
    47% 6 $1,030,000 $171,667 $1,419 3.13%
    46% 4 $870,000 $217,500 $1,757 2.94%
    >60% 1 $195,000 $195,000 $1,687 3.50%

    Illinois State Credit Union lent most frequently to those with DTI ratios of 20-30%, with 178 originations. The next most common DTI ratio? 30-36%, with 107 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 437 $71,575,000 $163,787 $1,574 2.92%
    Not provided 47 $8,625,000 $183,511 $1,586 2.78%
    Asian 24 $5,600,000 $233,333 $2,014 2.78%
    Black 35 $5,245,000 $149,857 $1,531 3.19%
    Asian Indian 5 $795,000 $159,000 $1,789 2.83%
    American Indian 2 $230,000 $115,000 $1,795 3.25%
    Native Hawaiian or Islander 1 $225,000 $225,000 $3,989 3.13%

    Approval Rates

    Total approvals of all applications
    83.20%

    Illinois State Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    87.84%

    Illinois State Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 551 $92,295,000 $167,505

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 551 $92,295,000 $167,505

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 25 $2,555,000 $102,200 $1,076 2.53%
    40-60% 63 $8,915,000 $141,508 $1,281 2.66%
    60-80% 239 $43,545,000 $182,197 $1,495 2.79%
    80-100% 215 $36,755,000 $170,953 $1,852 3.14%
    Over 100% 1 $205,000 $205,000 $1,895 4.13%