Old Hickory Credit Union Mortgage Rates, Fees & Info
Old Hickory, TNLEI: 254900IZF27X7A3Q7I15
Tax ID: 62-6040210
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Mortgage Data
Review & Overview
Old Hickory Credit Union is a smaller credit union specializing in Refi loans. Old Hickory Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Nashville, Tullahoma, and Clarksville among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Old Hickory 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. Old Hickory 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 10.27% | 11/17/24 |
| 30 Year Conventional Purchase | 6.01% | 11/17/24 |
| 30 Year Conventional Refi | 5.97% | 11/17/24 |
| 30 Year Cash-out Refi | 5.75% | 11/17/24 |
| 15 Year Conventional Purchase | 5.42% | 11/17/24 |
| 15 Year Conventional Refi | 6.61% | 11/17/24 |
| 15 Year Cash-out Refi | 6.61% | 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. | ||
Old Hickory Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
131Origination Dollar Volume (All Markets)
$11,935,000Top 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 |
|---|---|---|---|---|---|
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 116 | $10,480,000 | $90,345 | $2,896 | 4.86% |
| Outside of Metro Areas | 13 | $1,285,000 | $98,846 | $2,909 | 5.07% |
| Tullahoma-Manchester, TN (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,829 | 4.75% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 5.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against Old Hickory 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 | 79 | $4,375,000 | $55,380 | n/a | 5.38% |
| Conventional | 52 | $7,560,000 | $145,385 | $2,896 | 4.13% |
For 2019, Old Hickory Credit Union's most frequently originated type of loan was HELOC, with 79 originations. Their 2nd most popular type was Conventional, with 52 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 123 | $11,085,000 | $90,122 | $2,948 | 4.93% |
| Home Purchase | 7 | $825,000 | $117,857 | $2,795 | 3.93% |
| Other | 1 | $25,000 | $25,000 | $1,331 | 6.75% |
For 2019, Old Hickory Credit Union's most frequently cited loan purpose was Refi, with 123 originations. The 2nd most popular reason was Home Purchase, with 7 originations.
Loan Duration/Length
For 2019, Old Hickory Credit Union's most frequently cited loan duration was 20 Year, with 93 originations. The 2nd most popular length was 15 Year, with 19 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 39 | $5,875,000 | $150,641 |
| $<1k | 10 | $700,000 | $70,000 |
| $2k-3k | 3 | $985,000 | $328,333 |
Old Hickory Credit Union's average total fees were $3,126, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 39 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 68 | $3,680,000 | $54,118 |
| 3-4% | 37 | $5,975,000 | $161,486 |
| 4-5% | 20 | $1,760,000 | $88,000 |
| 6-7% | 6 | $520,000 | $86,667 |
During 2019, Old Hickory Credit Union's average interest rate for loans was 3.64%, while their most frequently originated rate bucket for loans was 5-6%, with 68 originations.
Loan Sizing
2019 saw Old Hickory Credit Union place emphasis on $100,000 or less loans with 87 originations, totaling $4,375,000 in origination value.
Applicant Income
Old Hickory Credit Union lent most frequently to those with incomes in the $50k or less range, with 5 originations. The second most popular income band? $100k-150k, with 3 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications84.06%
Old Hickory Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination73.28%
Old Hickory Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 131 | $11,935,000 | $91,107 |