Leaders Credit Union Mortgage Rates, Fees & InfoJackson, TN
Tax ID: 62-0681671
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewLeaders Credit Union is a smaller credit union specializing in loans. Leaders Credit Union has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Jackson, Memphis, Dyersburg, Union City, and Martin among others. We have data for 31 markets. (Some data included below & more in-depth data is available with an active subscription.)
Leaders 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. Leaders 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.
|Simulated Rate||Simulation Date|
|Home Equity Line of Credit (HELOC)||6.27%||3/27/23|
|30 Year Conventional Purchase||5.97%||3/27/23|
|30 Year Conventional Refi||6.82%||3/27/23|
|30 Year Cash-out Refi||7.01%||3/27/23|
|30 Year FHA Purchase||7.53%||3/27/23|
|30 Year FHA Refi||7.32%||3/27/23|
|30 Year VA Purchase||6.45%||3/27/23|
|30 Year USDA Purchase||6.95%||3/27/23|
|30 Year USDA Refi||6.27%||3/27/23|
|15 Year Conventional Purchase||6.71%||3/27/23|
|15 Year Conventional Refi||6.76%||3/27/23|
|15 Year Cash-out Refi||6.76%||3/27/23|
|15 Year FHA Purchase||5.68%||3/27/23|
|15 Year FHA Refi||5.68%||3/27/23|
|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.|
Origination Dollar Volume (All Markets)$168,330,000
Leaders Credit Union's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.05%.
Relative Fees (Closing Costs)
Leaders Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,352.
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 $4,750.
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|
|JACKSON, TN (FHA|USDA|VA)||714||$100,210,000||$140,350||$3,091||4.69%|
|MEMPHIS, TN-MS-AR (FHA|USDA|VA)||99||$17,305,000||$174,798||$3,511||4.72%|
|Outside of Metro Areas||117||$14,635,000||$125,085||$2,913||4.41%|
|Dyersburg, TN (FHA|USDA|VA)||106||$12,900,000||$121,698||$2,909||4.53%|
|Union City, TN (FHA|USDA|VA)||61||$7,845,000||$128,607||$2,854||5.15%|
|Martin, TN (FHA|USDA|VA)||27||$4,515,000||$167,222||$3,065||4.93%|
|NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA)||12||$2,660,000||$221,667||$4,818||4.75%|
|Brownsville, TN (FHA|USDA|VA)||10||$1,260,000||$126,000||$3,910||5.79%|
|KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA)||2||$760,000||$380,000||$3,195||3.94%|
|TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA)||1||$615,000||$615,000||$5,175||2.99%|
|Blytheville, AR (FHA|USDA|VA)||2||$590,000||$295,000||$4,869||5.13%|
|ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA)||1||$435,000||$435,000||$0||5.50%|
|CLARKSVILLE, TN-KY (FHA|USDA|VA)||2||$420,000||$210,000||$3,277||4.25%|
|Corinth, MS (FHA|USDA|VA)||1||$385,000||$385,000||$6,671||4.50%|
|HUNTSVILLE, AL (FHA|USDA|VA)||1||$365,000||$365,000||$1,881||3.88%|
|WINSTON-SALEM, NC (FHA|USDA|VA)||1||$355,000||$355,000||$3,943||5.75%|
|Paris, TN (FHA|USDA|VA)||3||$325,000||$108,333||$3,638||5.08%|
|Somerset, KY (FHA|USDA|VA)||1||$305,000||$305,000||$2,900||4.25%|
|DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA)||1||$295,000||$295,000||$3,062||5.00%|
|TUSCALOOSA, AL (FHA|USDA|VA)||1||$275,000||$275,000||$3,342||5.25%|
|RALEIGH-CARY, NC (FHA|USDA|VA)||1||$255,000||$255,000||$2,750||4.38%|
|Lawrenceburg, TN (FHA|USDA|VA)||1||$245,000||$245,000||$5,731||5.50%|
|Lewisburg, TN (FHA|USDA|VA)||1||$225,000||$225,000||$2,621||4.75%|
|JEFFERSON CITY, MO (FHA|USDA|VA)||1||$225,000||$225,000||$0||6.00%|
|Paducah, KY-IL (FHA|USDA|VA)||1||$205,000||$205,000||$3,012||5.25%|
|Shelbyville, TN (FHA|USDA|VA)||1||$175,000||$175,000||$3,652||7.38%|
|Kennett, MO (FHA|USDA|VA)||1||$165,000||$165,000||$1,636||6.13%|
|ST. LOUIS, MO-IL (FHA|USDA|VA)||1||$125,000||$125,000||$2,454||5.13%|
|Grenada, MS (FHA|USDA|VA)||1||$125,000||$125,000||$1,263||3.63%|
|JACKSON, MS (FHA|USDA|VA)||1||$75,000||$75,000||$0||8.25%|
|Fort Leonard Wood, MO (FHA|USDA|VA)||1||$55,000||$55,000||$615||3.38%|
We use machine learning to identify the top lenders compared against Leaders Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 420
Similarity Rank: 490
Similarity Rank: 833
Similarity Rank: 987
Similarity Rank: 1104
Similarity Rank: 1260
Similarity Rank: 1400
Similarity Rank: 2000
Similarity Rank: 2010
Similarity Rank: 2254
For 2022, Leaders Credit Union's most frequently originated type of loan was Conventional, with 584 originations. Their 2nd most popular type was HELOC, with 360 originations.
For 2022, Leaders Credit Union's most frequently cited loan purpose was Home Purchase, with 606 originations. The 2nd most popular reason was Home Improvement, with 231 originations.
For 2022, Leaders Credit Union's most frequently cited loan duration was 30 Year, with 601 originations. The 2nd most popular length was Other, with 431 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Leaders Credit Union's average total fees were $3,352, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 338 originations.
During 2022, Leaders Credit Union's average interest rate for loans was 4.81%, while their most frequently originated rate bucket for loans was 5-6%, with 260 originations.
2022 saw Leaders Credit Union place emphasis on $100,000 or less loans with 488 originations, totaling $24,500,000 in origination value.
Leaders Credit Union lent most frequently to those with incomes in the $50k-75k range, with 322 originations. The second most popular income band? $100k-150k, with 237 originations.
Applicant Debt to Income Ratio
Leaders Credit Union lent most frequently to those with DTI ratios of 20-30%, with 275 originations. The next most common DTI ratio? 30-36%, with 241 originations.
Approval RatesTotal approvals of all applications
Leaders Credit Union has a below average approval rate.
Pick RateApprovals leading to origination
Leaders Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
|Points||Originations||Total Value||Average Loan|