Clinchfield Federal Credit Union Mortgage Rates, Fees & Info
Erwin, TNLEI: 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 and Home Purchase loans. Clinchfield Federal Credit Union has a high proportion of conventional loans. Their top two markets are Johnson City and Kingsport .Clinchfield Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
52Origination Dollar Volume (All Markets)
$5,650,000Top 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 |
|---|---|---|---|---|---|
| JOHNSON CITY, TN (FHA|USDA|VA) | 51 | $5,535,000 | $108,529 | $0 | 0.00% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 52 | $5,650,000 | $108,654 | $0 | 0.00% |
For 2018, Clinchfield Federal Credit Union's most frequently originated type of loan was Conventional, with 52 originations.
Loan Reason
For 2018, Clinchfield Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 21 originations. The 2nd most popular reason was Home Purchase, with 18 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 52 | $5,650,000 | $108,654 | $0 | 0.00% |
For 2018, Clinchfield Federal Credit Union's most frequently cited loan duration was Other, with 52 originations.
Loan Sizing
2018 saw Clinchfield Federal Credit Union place emphasis on $100,000 or less loans with 32 originations, totaling $2,150,000 in origination value.
Applicant Income
Clinchfield Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 22 originations. The second most popular income band? $100k-150k, with 11 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 52 | $5,650,000 | $108,654 | $0 | 0.00% |
Clinchfield Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 52 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 51 | $5,505,000 | $107,941 | $0 | 0.00% |
| Black | 1 | $145,000 | $145,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications98.25%
Clinchfield Federal 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 origination94.23%
Clinchfield Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 52 | $5,650,000 | $108,654 |