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 Home Purchase and Refi loans. Illinois State Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Bloomington, Chicago, Rockford, Peoria, and Denver among others. We have data for 29 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.

    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
    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

    177

    Origination Dollar Volume (All Markets)

    $29,175,000

    Awards

    ILLINOIS STATE CREDIT UNION 30 Year Conventional Loans silver ILLINOIS STATE CREDIT UNION 30 Year Conventional Loans silver ILLINOIS STATE CREDIT UNION 30 Year Conventional Loans gold
    Show all (3) 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) 91 $13,685,000 $150,385 $1,753 4.71%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 14 $4,480,000 $320,000 $3,847 4.87%
    Outside of Metro Areas 20 $3,570,000 $178,500 $1,909 5.09%
    ROCKFORD, IL (FHA|USDA|VA) 18 $2,080,000 $115,556 $2,211 4.49%
    PEORIA, IL (FHA|USDA|VA) 5 $735,000 $147,000 $1,693 5.69%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $535,000 $535,000 $2,159 6.63%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $395,000 $395,000 $5,565 3.75%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $385,000 $385,000 $2,964 5.00%
    Rochelle, IL (FHA|USDA|VA) 3 $355,000 $118,333 $2,586 4.54%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $305,000 $305,000 $3,152 3.88%
    Ottawa, IL (FHA|USDA|VA) 3 $295,000 $98,333 $2,232 4.50%
    MADISON, WI (FHA|USDA|VA) 1 $275,000 $275,000 $0 5.38%
    DECATUR, IL (FHA|USDA|VA) 2 $270,000 $135,000 $2,118 5.44%
    Pontiac, IL (FHA|USDA|VA) 1 $215,000 $215,000 $3,888 5.13%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $205,000 $205,000 $2,153 5.38%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $185,000 $185,000 $2,279 4.75%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $135,000 $135,000 $2,155 5.25%
    ROCHESTER, MN (FHA|USDA|VA) 1 $125,000 $125,000 $2,240 3.63%
    Freeport, IL (FHA|USDA|VA) 1 $115,000 $115,000 $2,188 3.88%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $115,000 $115,000 $2,955 4.50%
    Cullman, AL (FHA|USDA|VA) 1 $115,000 $115,000 $2,270 5.38%
    CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 1 $115,000 $115,000 $1,773 3.63%
    Sterling, IL (FHA|USDA|VA) 1 $85,000 $85,000 $1,913 6.13%
    MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 1 $85,000 $85,000 $1,454 5.75%
    AUBURN-OPELIKA, AL (FHA|USDA|VA) 1 $75,000 $75,000 $738 6.75%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $75,000 $75,000 $0 6.75%
    CARBONDALE-MARION, IL (FHA|USDA|VA) 1 $65,000 $65,000 $1,902 6.63%
    Forest City, NC (FHA|USDA|VA) 1 $55,000 $55,000 $2,261 4.50%
    HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 1 $45,000 $45,000 $1,170 5.75%
    Illinois State Credit Union's top markets include Bloomington, Chicago, Rockford, Peoria, and Denver among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Colorado (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.

    First Savings Bank of Hegewisch
    Similarity Rank: 64
    Prairie State Bank and Trust
    Similarity Rank: 90
    Rock Valley Credit Union
    Similarity Rank: 91
    First Community Credit Union
    Similarity Rank: 100
    Liberty Bank for Savings
    Similarity Rank: 116
    FINANCIAL PLUS
    Similarity Rank: 198
    IAA Credit Union
    Similarity Rank: 290
    Morton Community Bank
    Similarity Rank: 342
    Stillman Bank
    Similarity Rank: 350
    The First National Bank and Trust Company
    Similarity Rank: 357

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 175 $29,075,000 $166,143 $2,086 4.81%
    HELOC 2 $100,000 $50,000 n/a 7.75%

    For 2022, Illinois State Credit Union's most frequently originated type of loan was Conventional, with 175 originations. Their 2nd most popular type was HELOC, with 2 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 105 $19,745,000 $188,048 $2,574 4.86%
    Refi 48 $7,320,000 $152,500 $1,559 4.33%
    Cash Out Refi 18 $1,840,000 $102,222 $1,075 5.44%
    Home Improvement 6 $270,000 $45,000 $134 6.33%

    For 2022, Illinois State Credit Union's most frequently cited loan purpose was Home Purchase, with 105 originations. The 2nd most popular reason was Refi, with 48 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 110 $21,490,000 $195,364 $2,382 4.83%
    15 Year 24 $3,170,000 $132,083 $2,149 3.97%
    20 Year 20 $1,440,000 $72,000 $1,053 5.68%
    10 Year 13 $965,000 $74,231 $723 4.53%
    Other 10 $2,110,000 $211,000 $2,176 5.46%

    For 2022, Illinois State Credit Union's most frequently cited loan duration was 30 Year, with 110 originations. The 2nd most popular length was 15 Year, with 24 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 154 $25,610,000 $166,299
    $1k-2k 13 $1,415,000 $108,846
    $2k-3k 5 $1,045,000 $209,000
    $4k-5k 2 $730,000 $365,000
    $3k-4k 1 $275,000 $275,000

    Illinois State Credit Union's average total fees were $2,382, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 154 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 49 $8,515,000 $173,776
    5-6% 49 $7,885,000 $160,918
    4-5% 42 $7,800,000 $185,714
    6-7% 25 $3,755,000 $150,200
    2.5-3% 5 $625,000 $125,000
    <2.5% 3 $405,000 $135,000
    7-8% 2 $120,000 $60,000
    Over 8% 1 $35,000 $35,000

    During 2022, Illinois State Credit Union's average interest rate for loans was 4.83%, while their most frequently originated rate bucket for loans was 3-4%, with 49 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 68 $9,750,000 $143,382 $1,987 4.57%
    $100,000 or less 59 $3,825,000 $64,831 $1,355 5.16%
    $200k-400k 41 $11,225,000 $273,780 $2,852 4.69%
    $400k-600k 9 $4,375,000 $486,111 $3,743 5.18%

    2022 saw Illinois State Credit Union place emphasis on $100k-200k loans with 68 originations, totaling $9,750,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 46 $6,100,000 $132,609 $1,859 5.19%
    $100k-150k 38 $7,840,000 $206,316 $2,130 4.63%
    $75k-100k 35 $5,265,000 $150,429 $1,682 4.46%
    $50k or less 32 $3,170,000 $99,063 $2,018 4.87%
    $150k-250k 19 $4,965,000 $261,316 $2,884 4.84%
    $250k+ 7 $1,835,000 $262,143 $3,470 4.95%

    Illinois State Credit Union lent most frequently to those with incomes in the $50k-75k range, with 46 originations. The second most popular income band? $100k-150k, with 38 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 46 $7,520,000 $163,478 $2,040 4.77%
    30-36% 35 $5,685,000 $162,429 $2,146 5.16%
    <20% 25 $3,155,000 $126,200 $1,702 4.32%
    42% 13 $1,905,000 $146,538 $2,430 4.81%
    45% 8 $980,000 $122,500 $1,630 5.06%
    41% 7 $1,305,000 $186,429 $2,154 4.48%
    40% 6 $1,180,000 $196,667 $1,901 5.04%
    38% 6 $1,220,000 $203,333 $1,660 4.83%
    48% 5 $905,000 $181,000 $3,074 4.95%
    49% 5 $1,315,000 $263,000 $2,485 5.15%
    44% 4 $960,000 $240,000 $2,771 4.47%
    39% 4 $960,000 $240,000 $2,850 3.84%
    46% 4 $470,000 $117,500 $2,331 4.16%
    43% 3 $635,000 $211,667 $1,706 5.71%
    37% 2 $240,000 $120,000 $1,908 6.75%
    47% 2 $480,000 $240,000 $1,518 5.13%
    36% 2 $260,000 $130,000 $2,186 4.94%

    Illinois State Credit Union lent most frequently to those with DTI ratios of 20-30%, with 46 originations. The next most common DTI ratio? 30-36%, with 35 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 158 $25,160,000 $159,241 $2,028 4.76%
    Asian 6 $2,050,000 $341,667 $3,913 5.98%
    Black 12 $1,810,000 $150,833 $2,085 4.98%
    American Indian 1 $155,000 $155,000 $1,788 5.38%

    Approval Rates

    Total approvals of all applications
    79.10%

    Illinois State Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    81.92%

    Illinois State Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 177 $29,175,000 $164,831

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    177 $29,175,000 $164,831

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 10 $650,000 $65,000 $651 5.59%
    40-60% 16 $2,760,000 $172,500 $1,680 4.21%
    60-80% 57 $10,275,000 $180,263 $2,233 4.48%
    80-100% 81 $14,995,000 $185,123 $2,433 4.85%
    Under 20% 12 $460,000 $38,333 $258 6.48%