Leaders Credit Union Mortgage Rates, Fees & Info

Jackson, TN

LEI: 254900FJRICL380R4T46

Tax ID: 62-0681671

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

    Leaders Credit Union is a smaller credit union specializing in Home Purchase and Refi 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, Union City, Nashville, and Martin among others. We have data for 27 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.27% 12/3/24
    30 Year Conventional Purchase 5.97% 12/3/24
    30 Year Conventional Refi 6.82% 12/3/24
    30 Year Cash-out Refi 7.01% 12/3/24
    30 Year FHA Purchase 7.53% 12/3/24
    30 Year FHA Refi 7.32% 12/3/24
    30 Year VA Purchase 6.45% 12/3/24
    30 Year USDA Purchase 6.95% 12/3/24
    30 Year USDA Refi 6.27% 12/3/24
    15 Year Conventional Purchase 6.71% 12/3/24
    15 Year Conventional Refi 6.76% 12/3/24
    15 Year Cash-out Refi 6.76% 12/3/24
    15 Year FHA Purchase 5.68% 12/3/24
    15 Year FHA Refi 5.68% 12/3/24
    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.

    Leaders Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Leaders 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

    706

    Origination Dollar Volume (All Markets)

    $105,680,000
    Show all (9) 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
    JACKSON, TN (FHA|USDA|VA) 491 $71,905,000 $146,446 $2,765 4.31%
    Outside of Metro Areas 72 $10,200,000 $141,667 $2,522 4.29%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 37 $7,365,000 $199,054 $3,498 4.16%
    Union City, TN (FHA|USDA|VA) 40 $4,940,000 $123,500 $1,943 4.78%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 10 $3,000,000 $300,000 $3,852 4.24%
    Martin, TN (FHA|USDA|VA) 23 $2,465,000 $107,174 $1,923 4.64%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 4 $860,000 $215,000 $3,744 4.91%
    FORT COLLINS, CO (FHA|USDA|VA) 1 $565,000 $565,000 $2,620 4.38%
    Dyersburg, TN (FHA|USDA|VA) 6 $550,000 $91,667 $1,532 4.27%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $485,000 $485,000 $5,270 3.88%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $315,000 $315,000 $5,383 4.63%
    KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 1 $305,000 $305,000 $465 4.00%
    RALEIGH-CARY, NC (FHA|USDA|VA) 1 $285,000 $285,000 $7,759 3.75%
    GULFPORT-BILOXI, MS (FHA|USDA|VA) 1 $275,000 $275,000 $948 4.50%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $235,000 $235,000 $2,839 4.13%
    Lawrenceburg, TN (FHA|USDA|VA) 2 $230,000 $115,000 $3,870 4.75%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $225,000 $225,000 $2,172 4.13%
    COLUMBIA, SC (FHA|USDA|VA) 1 $215,000 $215,000 $2,330 3.88%
    LONGVIEW, WA (FHA|USDA|VA) 1 $215,000 $215,000 $3,679 4.88%
    Paris, TN (FHA|USDA|VA) 2 $210,000 $105,000 $1,886 3.88%
    Brownsville, TN (FHA|USDA|VA) 3 $185,000 $61,667 $2,118 4.50%
    FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 1 $175,000 $175,000 $4,289 5.13%
    MONTGOMERY, AL (FHA|USDA|VA) 1 $145,000 $145,000 $4,182 4.38%
    Crossville, TN (FHA|USDA|VA) 1 $115,000 $115,000 $0 2.99%
    CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $95,000 $95,000 $3,468 4.50%
    Mayfield, KY (FHA|USDA|VA) 1 $65,000 $65,000 $2,108 3.75%
    SAVANNAH, GA (FHA|USDA|VA) 1 $55,000 $55,000 $0 4.00%
    Leaders Credit Union's top markets include Jackson, Memphis, Union City, Nashville, and Martin among others.

    Their top states include:
  • Tennessee (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • Similar Lenders

    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.

    The Bank of Jackson
    Similarity Rank: 63
    US COMMUNITY
    Similarity Rank: 64
    First Advantage Bank
    Similarity Rank: 650
    THE TENNESSEE CREDIT UNION
    Similarity Rank: 720
    KELLEY MORTGAGE, LLC
    Similarity Rank: 945
    First Farmers and Merchants Bank
    Similarity Rank: 986
    Financial Federal Bank
    Similarity Rank: 1060
    The Farmers Bank
    Similarity Rank: 1120
    BankPlus
    Similarity Rank: 1175
    InterContinental Capital Group, Inc
    Similarity Rank: 1938

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 501 $77,875,000 $155,439 $2,386 4.40%
    FHA 155 $21,865,000 $141,065 $3,773 4.19%
    USDA 50 $5,940,000 $118,800 $2,061 4.08%

    For 2019, Leaders Credit Union's most frequently originated type of loan was Conventional, with 501 originations. Their 2nd most popular type was FHA, with 155 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 455 $72,065,000 $158,385 $2,791 4.34%
    Refi 220 $29,710,000 $135,045 $2,533 4.21%
    Cash Out Refi 30 $3,870,000 $129,000 $2,946 5.04%
    Home Improvement 1 $35,000 $35,000 $0 8.99%

    For 2019, Leaders Credit Union's most frequently cited loan purpose was Home Purchase, with 455 originations. The 2nd most popular reason was Refi, with 220 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 417 $69,545,000 $166,775 $2,903 4.18%
    15 Year 117 $15,615,000 $133,462 $2,444 3.78%
    20 Year 80 $13,730,000 $171,625 $3,137 4.41%
    10 Year 42 $4,830,000 $115,000 $2,223 4.53%
    Other 41 $1,835,000 $44,756 $728 7.03%
    5 Year 9 $125,000 $13,889 $1,206 4.98%

    For 2019, Leaders Credit Union's most frequently cited loan duration was 30 Year, with 417 originations. The 2nd most popular length was 15 Year, with 117 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 412 $62,680,000 $152,136
    $1k-2k 97 $11,345,000 $116,959
    $2k-3k 38 $7,120,000 $187,368
    $3k-4k 31 $6,535,000 $210,806
    $4k-5k 6 $1,520,000 $253,333
    $5k+ 5 $1,065,000 $213,000

    Leaders Credit Union's average total fees were $2,903, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 412 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 320 $51,120,000 $159,750
    4-5% 297 $46,785,000 $157,525
    5-6% 33 $3,485,000 $105,606
    2.5-3% 16 $2,790,000 $174,375
    7-8% 15 $605,000 $40,333
    Over 8% 14 $480,000 $34,286
    6-7% 11 $415,000 $37,727

    During 2019, Leaders Credit Union's average interest rate for loans was 4.18%, while their most frequently originated rate bucket for loans was 3-4%, with 320 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 326 $46,850,000 $143,712 $2,664 4.09%
    $100,000 or less 211 $13,245,000 $62,773 $2,014 4.94%
    $200k-400k 161 $41,745,000 $259,286 $3,626 4.05%
    $400k-600k 7 $3,155,000 $450,714 $5,161 4.18%
    $600k-1MM 1 $685,000 $685,000 $0 2.99%

    2019 saw Leaders Credit Union place emphasis on $100k-200k loans with 326 originations, totaling $46,850,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 197 $19,985,000 $101,447 $2,388 4.32%
    $50k-75k 187 $25,065,000 $134,037 $2,664 4.29%
    $100k-150k 141 $26,205,000 $185,851 $2,991 4.31%
    $75k-100k 113 $17,445,000 $154,381 $2,859 4.39%
    $150k-250k 57 $13,345,000 $234,123 $3,101 4.48%
    $250k+ 11 $3,635,000 $330,455 $4,129 4.37%

    Leaders Credit Union lent most frequently to those with incomes in the $50k or less range, with 197 originations. The second most popular income band? $50k-75k, with 187 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 201 $30,135,000 $149,925 $2,543 4.33%
    30-36% 140 $21,540,000 $153,857 $2,607 4.44%
    <20% 67 $7,045,000 $105,149 $2,322 4.15%
    37% 33 $5,925,000 $179,545 $2,788 4.28%
    50-60% 28 $4,840,000 $172,857 $4,095 4.15%
    36% 24 $3,320,000 $138,333 $3,008 4.35%
    43% 23 $4,185,000 $181,957 $3,249 4.24%
    40% 23 $3,235,000 $140,652 $2,816 5.02%
    41% 22 $3,590,000 $163,182 $3,012 4.36%
    44% 21 $3,385,000 $161,190 $3,332 4.29%
    42% 20 $2,800,000 $140,000 $2,093 4.24%
    39% 20 $2,590,000 $129,500 $2,409 4.42%
    38% 19 $3,225,000 $169,737 $3,087 4.23%
    45% 15 $2,825,000 $188,333 $2,987 4.20%
    46% 13 $2,115,000 $162,692 $2,250 4.50%
    >60% 10 $1,010,000 $101,000 $2,872 4.53%
    48% 7 $1,005,000 $143,571 $2,766 4.05%
    49% 7 $1,135,000 $162,143 $2,318 4.32%
    47% 6 $780,000 $130,000 $2,222 4.06%

    Leaders Credit Union lent most frequently to those with DTI ratios of 20-30%, with 201 originations. The next most common DTI ratio? 30-36%, with 140 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 604 $89,970,000 $148,957 $2,650 4.34%
    Black 61 $8,545,000 $140,082 $2,938 4.43%
    Not provided 33 $5,655,000 $171,364 $3,308 4.14%
    Asian 5 $865,000 $173,000 $4,054 3.80%
    American Indian 3 $645,000 $215,000 $3,822 4.25%

    Approval Rates

    Total approvals of all applications
    85.57%

    Leaders Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    57.93%

    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
    NA 706 $105,680,000 $149,688

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 12 $970,000 $80,833
    Single Family (1-4 Units):Site-Built 694 $104,710,000 $150,879

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 26 $1,400,000 $53,846 $1,266 5.81%
    40-60% 48 $4,820,000 $100,417 $2,377 3.91%
    60-80% 184 $29,010,000 $157,663 $2,739 4.16%
    80-100% 408 $68,950,000 $168,995 $2,965 4.17%
    Over 100% 3 $445,000 $148,333 $1,558 3.96%
    Under 20% 37 $1,055,000 $28,514 $640 6.61%