Kingsport Press Credit Union Mortgage Rates, Fees & Info
KINGSPORT, TNLEI: 25490030Z1TAY4VPEL47
Tax ID: 62-6041453
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Mortgage Data
Review & Overview
Kingsport Press Credit Union is a smaller credit union specializing in Other, Home Improvement, and Home Purchase loans. Kingsport Press Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Kingsport, Morristown, Greeneville, Big Stone Gap, and Johnson City among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Kingsport Press Credit Union has an above average approval rate when compared to the average across all lenders. Kingsport Press 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 4/21/24 |
| 30 Year Conventional Refi | 6.27% | 4/21/24 |
| 30 Year Cash-out Refi | 6.27% | 4/21/24 |
| 15 Year Conventional Purchase | 5.68% | 4/21/24 |
| 15 Year Conventional Refi | 5.68% | 4/21/24 |
| 15 Year Cash-out Refi | 5.68% | 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. | ||
Kingsport Press Credit Union Mortgage Calculator
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This is not an official calculator from Kingsport Press 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
75Origination Dollar Volume (All Markets)
$6,215,000Awards
Kingsport Press Credit Union - 2023
Kingsport Press Credit Union is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Kingsport Press Credit Union's average 30 year fixed mortgage rate was
6.55%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.07%.
Relative Fees (Closing Costs)
Kingsport Press Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $2,732.
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 |
|---|---|---|---|---|---|
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 64 | $5,140,000 | $80,313 | $2,416 | 5.99% |
| MORRISTOWN, TN (FHA|USDA|VA) | 3 | $245,000 | $81,667 | $0 | 6.00% |
| Greeneville, TN (FHA|USDA|VA) | 3 | $235,000 | $78,333 | $2,688 | 4.58% |
| Outside of Metro Areas | 2 | $220,000 | $110,000 | $3,393 | 5.88% |
| Big Stone Gap, VA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,266 | 6.25% |
| JOHNSON CITY, TN (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $0 | 6.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against Kingsport Press Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 56 | $3,900,000 | $69,643 | n/a | 5.87% |
| Conventional | 19 | $2,315,000 | $121,842 | $2,547 | 6.18% |
For 2023, Kingsport Press Credit Union's most frequently originated type of loan was HELOC, with 56 originations. Their 2nd most popular type was Conventional, with 19 originations.
Loan Reason
For 2023, Kingsport Press Credit Union's most frequently cited loan purpose was Other, with 33 originations. The 2nd most popular reason was Home Improvement, with 25 originations.
Loan Duration/Length
For 2023, Kingsport Press Credit Union's most frequently cited loan duration was 20 Year, with 58 originations. The 2nd most popular length was 30 Year, with 11 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 10 | $1,350,000 | $135,000 |
| $<1k | 3 | $145,000 | $48,333 |
| $2k-3k | 2 | $410,000 | $205,000 |
| $3k-4k | 1 | $315,000 | $315,000 |
Kingsport Press Credit Union's average total fees were $2,732, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 10 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 39 | $3,145,000 | $80,641 |
| 6-7% | 29 | $2,645,000 | $91,207 |
| 4-5% | 4 | $260,000 | $65,000 |
| 7-8% | 2 | $60,000 | $30,000 |
| <2.5% | 1 | $105,000 | $105,000 |
During 2023, Kingsport Press Credit Union's average interest rate for loans was 6.55%, while their most frequently originated rate bucket for loans was 5-6%, with 39 originations.
Loan Sizing
2023 saw Kingsport Press Credit Union place emphasis on $100,000 or less loans with 52 originations, totaling $2,790,000 in origination value.
Applicant Income
Kingsport Press Credit Union lent most frequently to those with incomes in the $50k-75k range, with 25 originations. The second most popular income band? $50k or less, with 22 originations.
Applicant Debt to Income Ratio
Kingsport Press Credit Union lent most frequently to those with DTI ratios of <20%, with 24 originations. The next most common DTI ratio? 20-30%, with 17 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 75 | $6,215,000 | $82,867 | $2,547 | 5.95% |
Approval Rates
Total approvals of all applications98.68%
Kingsport Press Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 100.0 | 59 | $3,995,000 | $67,712 |
| NA | 16 | $2,220,000 | $138,750 |