Tva Community Credit Union Mortgage Rates, Fees & Info

Muscle Shoals, AL

LEI: 2549004IXUWDS2CYU578

Tax ID: 63-0306291

5 stars - Updated: 11/17/24 - out of 5 stars, based on 10 reviews

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Tva Community Credit Union is a smaller credit union specializing in Other, Refi, and Home Purchase loans. Tva Community Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Florence, Huntsville, and Decatur among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Tva Community Credit Union has an above average approval rate when compared to the average across all lenders. Tva Community 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.

    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 5.31% 11/17/24
    30 Year Conventional Refi 5.27% 11/17/24
    30 Year Cash-out Refi 5.07% 11/17/24
    15 Year Conventional Purchase 5.57% 11/17/24
    15 Year Conventional Refi 4.75% 11/17/24
    15 Year Cash-out Refi 4.75% 11/17/24
    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.

    Tva Community Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Tva Community 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

    101

    Origination Dollar Volume (All Markets)

    $13,075,000

    Awards

    TVA Community Credit Union 30 Year Conventional Loans gold TVA Community Credit Union 30 Year Conventional Loans gold
    Show all (2) awards

    Relative Rate

    Tva Community Credit Union's average 30 year fixed mortgage rate was 6.06%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of -0.42%.

    Relative Fees (Closing Costs)

    Tva Community Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $3,406.

    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
    FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 80 $10,780,000 $134,750 $2,976 6.33%
    HUNTSVILLE, AL (FHA|USDA|VA) 9 $1,365,000 $151,667 $3,477 6.29%
    Outside of Metro Areas 8 $580,000 $72,500 $2,001 6.25%
    DECATUR, AL (FHA|USDA|VA) 4 $350,000 $87,500 $2,509 6.25%
    Tva Community Credit Union's top markets include Florence, Huntsville, and Decatur among others.

    Their top states include:
  • Alabama (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against TVA Community Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    TVA Community Credit Union
    Similarity Rank: 24
    Listerhill Credit Union
    Similarity Rank: 85
    Consumer First Mortgage, Inc.
    Similarity Rank: 336
    CB&S Bank, Inc.
    Similarity Rank: 370
    Bank Independent
    Similarity Rank: 552
    River Bank & Trust
    Similarity Rank: 1075
    First Federal Bank, A FSB
    Similarity Rank: 1148
    Wolfe Financial, Inc
    Similarity Rank: 1440
    Trustmark National Bank
    Similarity Rank: 2525
    Mortgage Research Center, LLC
    Similarity Rank: 2754

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 70 $11,130,000 $159,000 $2,929 6.11%
    HELOC 31 $1,945,000 $62,742 n/a 6.78%

    For 2023, Tva Community Credit Union's most frequently originated type of loan was Conventional, with 70 originations. Their 2nd most popular type was HELOC, with 31 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 32 $3,750,000 $117,188 $2,549 6.49%
    Refi 22 $3,160,000 $143,636 $2,644 6.12%
    Home Purchase 19 $3,765,000 $198,158 $3,837 6.03%
    Cash Out Refi 16 $1,750,000 $109,375 $2,840 6.56%
    Home Improvement 12 $650,000 $54,167 $2,334 6.31%

    For 2023, Tva Community Credit Union's most frequently cited loan purpose was Other, with 32 originations. The 2nd most popular reason was Refi, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 44 $9,170,000 $208,409 $3,406 6.06%
    15 Year 41 $2,715,000 $66,220 $2,161 6.61%
    10 Year 13 $905,000 $69,615 $1,992 6.35%
    20 Year 2 $230,000 $115,000 $2,844 5.68%
    5 Year 1 $55,000 $55,000 $1,977 6.00%

    For 2023, Tva Community Credit Union's most frequently cited loan duration was 30 Year, with 44 originations. The 2nd most popular length was 15 Year, with 41 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 28 $2,690,000 $96,071
    $1k-2k 27 $3,495,000 $129,444
    $2k-3k 9 $2,135,000 $237,222
    $3k-4k 3 $1,315,000 $438,333
    $5k+ 1 $705,000 $705,000

    Tva Community Credit Union's average total fees were $3,406, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 28 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 50 $5,850,000 $117,000
    5-6% 42 $6,650,000 $158,333
    7-8% 9 $575,000 $63,889

    During 2023, Tva Community Credit Union's average interest rate for loans was 6.06%, while their most frequently originated rate bucket for loans was 6-7%, with 50 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 51 $2,745,000 $53,824 $2,089 6.42%
    $100k-200k 32 $4,290,000 $134,063 $2,836 6.34%
    $200k-400k 14 $3,690,000 $263,571 $4,116 5.89%
    $400k-600k 2 $1,040,000 $520,000 $1,962 6.13%
    $600k-1MM 2 $1,310,000 $655,000 $7,724 6.28%

    2023 saw Tva Community Credit Union place emphasis on $100,000 or less loans with 51 originations, totaling $2,745,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 32 $4,360,000 $136,250 $2,731 6.39%
    $75k-100k 22 $2,720,000 $123,636 $2,767 6.13%
    $150k-250k 17 $2,385,000 $140,294 $3,111 6.54%
    $50k-75k 15 $1,575,000 $105,000 $2,758 6.12%
    $50k or less 13 $1,155,000 $88,846 $2,850 6.33%
    $250k+ 2 $880,000 $440,000 $6,669 6.65%

    Tva Community Credit Union lent most frequently to those with incomes in the $100k-150k range, with 32 originations. The second most popular income band? $75k-100k, with 22 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 26 $3,070,000 $118,077 $2,891 6.35%
    30-36% 24 $3,840,000 $160,000 $3,053 6.31%
    <20% 23 $2,745,000 $119,348 $2,803 6.15%
    45% 6 $430,000 $71,667 $2,671 6.63%
    42% 3 $795,000 $265,000 $1,529 6.12%
    46% 3 $265,000 $88,333 $2,235 6.08%
    37% 3 $195,000 $65,000 $3,409 6.75%
    40% 2 $250,000 $125,000 $0 6.75%
    43% 2 $460,000 $230,000 $4,178 6.40%
    44% 2 $290,000 $145,000 $4,335 6.38%
    50-60% 1 $115,000 $115,000 $2,655 6.25%
    36% 1 $75,000 $75,000 $2,125 6.55%
    38% 1 $125,000 $125,000 $3,587 6.00%
    39% 1 $45,000 $45,000 $0 7.50%
    41% 1 $105,000 $105,000 $2,676 6.55%
    47% 1 $205,000 $205,000 $3,875 6.00%
    49% 1 $65,000 $65,000 $0 5.50%

    Tva Community Credit Union lent most frequently to those with DTI ratios of 20-30%, with 26 originations. The next most common DTI ratio? 30-36%, with 24 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 93 $12,445,000 $133,817 $2,943 6.32%
    Black 6 $550,000 $91,667 $2,708 6.28%
    American Indian 1 $55,000 $55,000 $0 6.75%
    Not provided 1 $25,000 $25,000 $0 5.50%

    Approval Rates

    Total approvals of all applications
    95.28%

    Tva Community 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 origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 101 $13,075,000 $129,455

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    101 $13,075,000 $129,455

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 33 $2,795,000 $84,697 $2,234 6.43%
    40-60% 14 $2,120,000 $151,429 $3,343 6.35%
    60-80% 11 $2,855,000 $259,545 $3,632 5.95%
    80-100% 17 $4,065,000 $239,118 $3,527 5.90%
    Under 20% 26 $1,240,000 $47,692 $2,011 6.57%