Clinchfield Federal Credit Union Mortgage Rates, Fees & Info

Erwin, TN

LEI: 254900P86CWA5DCK0Y27

Tax ID: 62-0459298

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Mortgage Data

Review & Overview

Clinchfield Federal Credit Union is a smaller credit union specializing in Cash Out Refi, Home Purchase, and Home Improvement loans. Clinchfield Federal Credit Union has a high proportion of conventional loans. Their top (well, only) market is Johnson City.

Clinchfield Federal Credit Union has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders.

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Originations

34

Origination Dollar Volume (All Markets)

$3,800,000

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
JOHNSON CITY, TN (FHA|USDA|VA) 33 $3,625,000 $109,848 $0 0.00%
Outside of Metro Areas 1 $175,000 $175,000 $0 0.00%
Clinchfield Federal Credit Union's top markets include and Johnson City among others.

Their top states include:
  • Tennessee (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 34 $3,800,000 $111,765 $0 0.00%

    For 2023, Clinchfield Federal Credit Union's most frequently originated type of loan was Conventional, with 34 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 17 $1,385,000 $81,471 $0 0.00%
    Home Purchase 8 $1,400,000 $175,000 $0 0.00%
    Home Improvement 8 $980,000 $122,500 $0 0.00%
    Refi 1 $35,000 $35,000 $0 0.00%

    For 2023, Clinchfield Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 17 originations. The 2nd most popular reason was Home Purchase, with 8 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 34 $3,800,000 $111,765 $0 0.00%

    For 2023, Clinchfield Federal Credit Union's most frequently cited loan duration was Other, with 34 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 18 $990,000 $55,000 $0 0.00%
    $100k-200k 12 $1,760,000 $146,667 $0 0.00%
    $200k-400k 4 $1,050,000 $262,500 $0 0.00%

    2023 saw Clinchfield Federal Credit Union place emphasis on $100,000 or less loans with 18 originations, totaling $990,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 10 $750,000 $75,000 $0 0.00%
    $50k-75k 8 $720,000 $90,000 $0 0.00%
    $75k-100k 8 $1,320,000 $165,000 $0 0.00%
    $100k-150k 6 $730,000 $121,667 $0 0.00%
    $150k-250k 2 $280,000 $140,000 $0 0.00%

    Clinchfield Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 10 originations. The second most popular income band? $50k-75k, with 8 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 34 $3,800,000 $111,765 $0 0.00%

    Clinchfield Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 34 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 34 $3,800,000 $111,765 $0 0.00%

    Approval Rates

    Total approvals of all applications
    88.10%

    Clinchfield Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    94.12%

    Clinchfield Federal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 34 $3,800,000 $111,765

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    34 $3,800,000 $111,765