Telco Community Credit Union Mortgage Rates, Fees & Info
Asheville, NCLEI: 254900R0GC9CW77VXE28
Tax ID: 56-6047874
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Mortgage Data
Review & Overview
Telco Community Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Telco Community Credit Union has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Asheville, Hickory, North Wilkesboro, Johnson City, and Mount Airy among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)Telco Community 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. Telco Community 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 |
|---|---|---|
| 30 Year Conventional Purchase | 11.36% | 4/28/24 |
| 30 Year Cash-out Refi | 7.77% | 4/28/24 |
| 15 Year Conventional Purchase | 5.68% | 4/28/24 |
| 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. | ||
Telco Community 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
163Origination Dollar Volume (All Markets)
$18,515,000Awards
Telco Community Credit Union - 2018
Telco Community Credit Union is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| ASHEVILLE, NC (FHA|USDA|VA) | 132 | $15,530,000 | $117,652 | $3,135 | 5.89% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 18 | $1,610,000 | $89,444 | $2,210 | 5.36% |
| Outside of Metro Areas | 4 | $690,000 | $172,500 | $1,543 | 9.88% |
| North Wilkesboro, NC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 3.50% |
| JOHNSON CITY, TN (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 7.63% |
| Mount Airy, NC (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 12.00% |
| Marion, NC (FHA|USDA|VA) | 2 | $80,000 | $40,000 | $1,212 | 4.44% |
| Shelby, NC (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 5.75% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 4.50% |
| Forest City, NC (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 8.75% |
| Seneca, SC (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 4.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against Telco Community 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
For 2018, Telco Community Credit Union's most frequently originated type of loan was Conventional, with 141 originations. Their 2nd most popular type was HELOC, with 18 originations.
Loan Reason
For 2018, Telco Community Credit Union's most frequently cited loan purpose was Cash Out Refi, with 118 originations. The 2nd most popular reason was Home Purchase, with 39 originations.
Loan Duration/Length
For 2018, Telco Community Credit Union's most frequently cited loan duration was 15 Year, with 80 originations. The 2nd most popular length was 30 Year, with 45 originations.
Origination Fees/Closing Costs
Telco Community Credit Union's average total fees were $2,864, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 44 originations.
Interest Rates
During 2018, Telco Community Credit Union's average interest rate for loans was 4.84%, while their most frequently originated rate bucket for loans was 4-5%, with 59 originations.
Loan Sizing
2018 saw Telco Community Credit Union place emphasis on $100,000 or less loans with 92 originations, totaling $5,220,000 in origination value.
Applicant Income
Telco Community Credit Union lent most frequently to those with incomes in the $50k or less range, with 73 originations. The second most popular income band? $50k-75k, with 50 originations.
Applicant Debt to Income Ratio
Telco Community Credit Union lent most frequently to those with DTI ratios of 20-30%, with 34 originations. The next most common DTI ratio? 30-36%, with 32 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.89%
Telco Community Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination69.94%
Telco Community 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 |
|---|---|---|---|
| 1.0 | 1 | $75,000 | $75,000 |
| 1000.0 | 1 | $135,000 | $135,000 |
| 10000.0 | 1 | $125,000 | $125,000 |
| 1062.5 | 2 | $60,000 | $30,000 |
| 1065.25 | 1 | $675,000 | $675,000 |
| 1100.0 | 1 | $55,000 | $55,000 |
| 1118.75 | 1 | $75,000 | $75,000 |
| 1162.5 | 1 | $75,000 | $75,000 |
| 125.0 | 2 | $220,000 | $110,000 |
| 1250.0 | 2 | $100,000 | $50,000 |
| 1300.0 | 1 | $75,000 | $75,000 |
| 1340.0 | 1 | $85,000 | $85,000 |
| 1375.0 | 1 | $175,000 | $175,000 |
| 1472.5 | 1 | $125,000 | $125,000 |
| 1525.0 | 1 | $205,000 | $205,000 |
| 1562.5 | 1 | $75,000 | $75,000 |
| 1625.0 | 1 | $185,000 | $185,000 |
| 1626.26 | 1 | $75,000 | $75,000 |
| 163.75 | 1 | $295,000 | $295,000 |
| 1660.0 | 1 | $115,000 | $115,000 |
| 1662.5 | 1 | $45,000 | $45,000 |
| 1669.45 | 1 | $105,000 | $105,000 |
| 1680.0 | 1 | $15,000 | $15,000 |
| 1775.0 | 1 | $125,000 | $125,000 |
| 1831.25 | 1 | $125,000 | $125,000 |
| 1875.0 | 2 | $140,000 | $70,000 |
| 1950.0 | 1 | $75,000 | $75,000 |
| 2047.0 | 1 | $25,000 | $25,000 |
| 2062.5 | 2 | $290,000 | $145,000 |
| 2125.0 | 1 | $55,000 | $55,000 |
| 2161.25 | 1 | $55,000 | $55,000 |
| 237.5 | 1 | $155,000 | $155,000 |
| 2453.0 | 1 | $55,000 | $55,000 |
| 250.0 | 3 | $215,000 | $71,667 |
| 2500.0 | 2 | $420,000 | $210,000 |
| 2539.0 | 1 | $75,000 | $75,000 |
| 2568.75 | 1 | $25,000 | $25,000 |
| 2580.0 | 1 | $105,000 | $105,000 |
| 262.5 | 2 | $200,000 | $100,000 |
| 2991.24 | 1 | $45,000 | $45,000 |
| 312.5 | 3 | $375,000 | $125,000 |
| 3125.0 | 2 | $310,000 | $155,000 |
| 313.0 | 1 | $165,000 | $165,000 |
| 3225.0 | 1 | $85,000 | $85,000 |
| 3350.0 | 1 | $65,000 | $65,000 |
| 3498.13 | 1 | $25,000 | $25,000 |
| 3500.0 | 1 | $85,000 | $85,000 |
| 361.25 | 1 | $65,000 | $65,000 |
| 362.5 | 1 | $65,000 | $65,000 |
| 375.0 | 3 | $335,000 | $111,667 |
| 3786.4 | 1 | $145,000 | $145,000 |
| 406.25 | 1 | $25,000 | $25,000 |
| 431.0 | 1 | $285,000 | $285,000 |
| 437.5 | 2 | $190,000 | $95,000 |
| 476.25 | 1 | $35,000 | $35,000 |
| 4895.0 | 1 | $35,000 | $35,000 |
| 500.0 | 1 | $405,000 | $405,000 |
| 506.25 | 1 | $85,000 | $85,000 |
| 525.0 | 1 | $25,000 | $25,000 |
| 537.5 | 1 | $75,000 | $75,000 |
| 625.0 | 9 | $875,000 | $97,222 |
| 700.0 | 1 | $145,000 | $145,000 |
| 712.5 | 1 | $15,000 | $15,000 |
| 725.0 | 1 | $115,000 | $115,000 |
| 750.0 | 2 | $330,000 | $165,000 |
| 800.0 | 1 | $75,000 | $75,000 |
| 809.38 | 1 | $205,000 | $205,000 |
| 825.0 | 1 | $175,000 | $175,000 |
| 875.0 | 1 | $75,000 | $75,000 |
| 900.0 | 2 | $450,000 | $225,000 |
| 930.0 | 1 | $135,000 | $135,000 |
| 937.5 | 4 | $520,000 | $130,000 |
| 962.5 | 1 | $215,000 | $215,000 |
| NA | 62 | $6,950,000 | $112,097 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 20 | $1,830,000 | $91,500 |
| Single Family (1-4 Units):Site-Built | 143 | $16,685,000 | $116,678 |