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 markets by origination volume include: Johnson City, Greeneville, and Kingsport among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)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
68Origination Dollar Volume (All Markets)
$8,800,000Top 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) | 66 | $8,520,000 | $129,091 | $0 | 0.00% |
| Greeneville, TN (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 0.00% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 68 | $8,800,000 | $129,412 | $0 | 0.00% |
For 2020, Clinchfield Federal Credit Union's most frequently originated type of loan was Conventional, with 68 originations.
Loan Reason
For 2020, Clinchfield Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 29 originations. The 2nd most popular reason was Home Purchase, with 15 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 68 | $8,800,000 | $129,412 | $0 | 0.00% |
For 2020, Clinchfield Federal Credit Union's most frequently cited loan duration was Other, with 68 originations.
Loan Sizing
2020 saw Clinchfield Federal Credit Union place emphasis on $100k-200k loans with 31 originations, totaling $4,025,000 in origination value.
Applicant Income
Clinchfield Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 20 originations. The second most popular income band? $100k-150k, with 16 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 68 | $8,800,000 | $129,412 | $0 | 0.00% |
Clinchfield Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 68 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 66 | $8,690,000 | $131,667 | $0 | 0.00% |
| Black | 2 | $110,000 | $55,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications97.26%
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 origination95.59%
Clinchfield Federal Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 68 | $8,800,000 | $129,412 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 6 | $380,000 | $63,333 |
| Single Family (1-4 Units):Site-Built | 62 | $8,420,000 | $135,806 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Over 100% | 68 | $8,800,000 | $129,412 | $0 | 0.00% |
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| CU Alliance, LLC | Conventional home mortgage | Trouble during payment process | 1 | 100.0% |