Telco Community Credit Union Mortgage Rates, Fees & Info

Asheville, NC

LEI: 254900R0GC9CW77VXE28

Tax ID: 56-6047874

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Telco Community Credit Union is a smaller credit union specializing in Cash Out Refi loans. Telco Community Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Asheville, Hickory, Brevard, Greenville, and Marion among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Telco Community Credit Union has an above 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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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






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Telco Community Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    177

    Origination Dollar Volume (All Markets)

    $31,605,000

    Awards

    Telco Community Credit Union 30 Year Conventional Loans gold
    Show all (1) awards

    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) 138 $26,290,000 $190,507 $4,230 3.48%
    HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 22 $3,310,000 $150,455 $3,247 3.23%
    Brevard, NC (FHA|USDA|VA) 8 $1,150,000 $143,750 $3,523 3.55%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $295,000 $295,000 $5,881 2.88%
    Outside of Metro Areas 4 $260,000 $65,000 $1,974 4.50%
    Marion, NC (FHA|USDA|VA) 2 $160,000 $80,000 $2,092 6.31%
    Forest City, NC (FHA|USDA|VA) 1 $125,000 $125,000 $2,950 4.58%
    North Wilkesboro, NC (FHA|USDA|VA) 1 $15,000 $15,000 $289 6.00%
    Telco Community Credit Union's top markets include Asheville, Hickory, Brevard, Greenville, and Marion among others.

    Their top states include:
  • North Carolina (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)

    • 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.

    Peoples Bank
    Similarity Rank: 300
    CAPITAL CENTER, L.L.C.
    Similarity Rank: 1188
    Champion Credit Union
    Similarity Rank: 1815
    MCLEAN MORTGAGE CORPORATION
    Similarity Rank: 1989
    Telco Community Credit Union
    Similarity Rank: 2176
    DHI MORTGAGE COMPANY, LTD.
    Similarity Rank: 2925
    American Security Mortgage Corp.
    Similarity Rank: 3510
    First Bank
    Similarity Rank: 3773
    Mortgage Assurance Inc.
    Similarity Rank: 3888
    COASTAL Federal Credit Union
    Similarity Rank: 4424

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 174 $31,490,000 $180,977 $3,980 3.48%
    HELOC 3 $115,000 $38,333 n/a 6.00%

    For 2021, Telco Community Credit Union's most frequently originated type of loan was Conventional, with 174 originations. Their 2nd most popular type was HELOC, with 3 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 144 $26,240,000 $182,222 $4,058 3.35%
    Home Purchase 21 $3,295,000 $156,905 $3,814 4.52%
    Refi 12 $2,070,000 $172,500 $3,360 3.85%

    For 2021, Telco Community Credit Union's most frequently cited loan purpose was Cash Out Refi, with 144 originations. The 2nd most popular reason was Home Purchase, with 21 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 83 $16,685,000 $201,024 $4,639 3.58%
    15 Year 51 $7,225,000 $141,667 $3,077 3.46%
    20 Year 23 $4,585,000 $199,348 $4,063 2.83%
    Other 12 $1,760,000 $146,667 $3,302 4.03%
    10 Year 5 $495,000 $99,000 $2,394 3.63%
    5 Year 2 $50,000 $25,000 $933 5.75%
    1 Year 1 $805,000 $805,000 $13,418 7.00%

    For 2021, Telco Community Credit Union's most frequently cited loan duration was 30 Year, with 83 originations. The 2nd most popular length was 15 Year, with 51 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 60 $7,480,000 $124,667
    $2k-3k 50 $9,970,000 $199,400
    $<1k 26 $1,410,000 $54,231
    $3k-4k 26 $7,260,000 $279,231
    $4k-5k 8 $2,930,000 $366,250
    $5k+ 4 $2,440,000 $610,000

    Telco Community Credit Union's average total fees were $4,639, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 60 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 78 $15,630,000 $200,385
    <2.5% 28 $4,520,000 $161,429
    3-4% 28 $5,420,000 $193,571
    4-5% 23 $3,685,000 $160,217
    5-6% 10 $980,000 $98,000
    6-7% 5 $1,005,000 $201,000
    7-8% 4 $260,000 $65,000
    Over 8% 1 $105,000 $105,000

    During 2021, Telco Community Credit Union's average interest rate for loans was 3.58%, while their most frequently originated rate bucket for loans was 2.5-3%, with 78 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 70 $10,440,000 $149,143 $3,248 3.30%
    $200k-400k 60 $15,670,000 $261,167 $5,696 3.20%
    $100,000 or less 42 $2,650,000 $63,095 $1,970 4.35%
    $400k-600k 3 $1,345,000 $448,333 $7,576 2.71%
    $600k-1MM 2 $1,500,000 $750,000 $11,961 5.00%

    2021 saw Telco Community Credit Union place emphasis on $100k-200k loans with 70 originations, totaling $10,440,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 56 $9,530,000 $170,179 $3,618 3.63%
    $50k or less 51 $6,135,000 $120,294 $2,838 3.64%
    $75k-100k 29 $5,495,000 $189,483 $4,015 3.41%
    $100k-150k 27 $5,805,000 $215,000 $5,779 3.02%
    $150k-250k 10 $2,650,000 $265,000 $5,227 3.61%
    $250k+ 4 $1,990,000 $497,500 $8,159 4.63%

    Telco Community Credit Union lent most frequently to those with incomes in the $50k-75k range, with 56 originations. The second most popular income band? $50k or less, with 51 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 46 $7,330,000 $159,348 $3,397 3.76%
    30-36% 42 $7,720,000 $183,810 $3,808 3.62%
    <20% 32 $5,160,000 $161,250 $3,418 3.30%
    41% 9 $1,525,000 $169,444 $3,516 2.93%
    36% 8 $1,850,000 $231,250 $5,106 3.38%
    42% 8 $1,390,000 $173,750 $3,838 3.55%
    39% 7 $1,405,000 $200,714 $4,246 3.56%
    37% 5 $785,000 $157,000 $3,079 3.05%
    43% 4 $1,050,000 $262,500 $4,836 2.94%
    40% 4 $570,000 $142,500 $3,018 3.41%
    46% 3 $1,055,000 $351,667 $6,023 2.67%
    38% 3 $795,000 $265,000 $4,984 2.75%
    44% 2 $430,000 $215,000 $4,373 3.79%
    >60% 1 $255,000 $255,000 $48,886 3.00%
    47% 1 $65,000 $65,000 $2,537 7.00%
    49% 1 $155,000 $155,000 $3,094 8.00%
    50-60% 1 $65,000 $65,000 $1,651 4.25%

    Telco Community Credit Union lent most frequently to those with DTI ratios of 20-30%, with 46 originations. The next most common DTI ratio? 30-36%, with 42 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 171 $30,715,000 $179,620 $4,006 3.48%
    American Indian 4 $630,000 $157,500 $3,354 5.25%
    Asian 2 $260,000 $130,000 $3,072 3.56%

    Approval Rates

    Total approvals of all applications
    94.90%

    Telco Community Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.44%

    Telco Community Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 177 $31,605,000 $178,559

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    177 $31,605,000 $178,559

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 26 $2,820,000 $108,462 $2,306 3.54%
    40-60% 44 $6,660,000 $151,364 $3,245 3.47%
    60-80% 81 $17,955,000 $221,667 $4,403 3.45%
    80-100% 18 $3,770,000 $209,444 $6,769 3.45%
    Under 20% 8 $400,000 $50,000 $2,276 4.72%