Truecore Federal Credit Union Mortgage Rates, Fees & Info

Newark, OH

LEI: 254900TFS12PFBK5FD47

Tax ID: 31-4407749

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

Jump to:

  • 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

    Truecore Federal Credit Union is a smaller credit union specializing in Other and Cash Out Refi loans. Truecore Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Columbus, Mount Vernon, Zanesville, and Coshocton among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Truecore Federal 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. Truecore Federal 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 7.16% 11/22/24
    30 Year Conventional Refi 6.36% 11/22/24
    30 Year Cash-out Refi 7.04% 11/22/24
    30 Year VA Purchase 7.30% 11/22/24
    15 Year Conventional Refi 5.54% 11/22/24
    15 Year Cash-out Refi 5.54% 11/22/24
    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.

    Truecore Federal Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Truecore Federal 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

    194

    Origination Dollar Volume (All Markets)

    $12,360,000

    Awards

    TrueCore Federal Credit Union 30 Year Conventional Loans gold TrueCore Federal Credit Union 30 Year Conventional Loans silver
    Show all (2) 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
    COLUMBUS, OH (FHA|USDA|VA) 179 $11,415,000 $63,771 $1,006 5.59%
    Mount Vernon, OH (FHA|USDA|VA) 7 $535,000 $76,429 $770 4.32%
    Zanesville, OH (FHA|USDA|VA) 7 $335,000 $47,857 $487 4.64%
    Coshocton, OH (FHA|USDA|VA) 1 $75,000 $75,000 $569 4.25%
    Truecore Federal Credit Union's top markets include Columbus, Mount Vernon, Zanesville, and Coshocton among others.

    Their top states include:
  • Ohio (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against TrueCore Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Columbus Metro Federal Credit Union
    Similarity Rank: 224
    TrueCore Federal Credit Union
    Similarity Rank: 360
    Victory Community Bank
    Similarity Rank: 420
    First Federal Savings and Loan Association
    Similarity Rank: 420
    VICTORY MORTGAGE, L.L.C.
    Similarity Rank: 728
    North Valley Bank
    Similarity Rank: 768
    CME Federal Credit Union
    Similarity Rank: 820
    BMI Federal Credit Union
    Similarity Rank: 870
    THE VINTON COUNTY NATIONAL BANK
    Similarity Rank: 935
    KEMBA FINANCIAL
    Similarity Rank: 952

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 103 $7,625,000 $74,029 $950 5.14%
    HELOC 90 $4,660,000 $51,778 n/a 5.93%
    VA 1 $75,000 $75,000 $3,246 4.63%

    For 2018, Truecore Federal Credit Union's most frequently originated type of loan was Conventional, with 103 originations. Their 2nd most popular type was HELOC, with 90 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 89 $4,515,000 $50,730 $0 5.97%
    Cash Out Refi 78 $5,400,000 $69,231 $620 5.23%
    Home Purchase 20 $1,780,000 $89,000 $2,355 4.95%
    Refi 7 $665,000 $95,000 $805 4.30%

    For 2018, Truecore Federal Credit Union's most frequently cited loan purpose was Other, with 89 originations. The 2nd most popular reason was Cash Out Refi, with 78 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 96 $5,110,000 $53,229 $1,824 5.89%
    15 Year 44 $3,520,000 $80,000 $789 4.90%
    10 Year 28 $1,720,000 $61,429 $487 4.65%
    30 Year 16 $1,830,000 $114,375 $2,420 4.91%
    5 Year 9 $145,000 $16,111 $269 7.27%
    Other 1 $35,000 $35,000 $389 12.00%

    For 2018, Truecore Federal Credit Union's most frequently cited loan duration was 20 Year, with 96 originations. The 2nd most popular length was 15 Year, with 44 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 102 $7,630,000 $74,804

    Truecore Federal Credit Union's average total fees were $2,420, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 102 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 87 $6,145,000 $70,632
    5-6% 34 $2,320,000 $68,235
    3-4% 32 $2,730,000 $85,313
    Over 8% 23 $635,000 $27,609
    6-7% 10 $250,000 $25,000
    7-8% 7 $235,000 $33,571

    During 2018, Truecore Federal Credit Union's average interest rate for loans was 4.91%, while their most frequently originated rate bucket for loans was 4-5%, with 87 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 153 $6,875,000 $44,935 $788 5.76%
    $100k-200k 39 $4,945,000 $126,795 $1,417 4.55%
    $200k-400k 2 $540,000 $270,000 $0 4.75%

    2018 saw Truecore Federal Credit Union place emphasis on $100,000 or less loans with 153 originations, totaling $6,875,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 63 $3,385,000 $53,730 $1,104 5.75%
    $50k-75k 57 $3,305,000 $57,982 $966 5.68%
    $75k-100k 37 $2,985,000 $80,676 $923 5.07%
    $100k-150k 22 $1,350,000 $61,364 $420 5.37%
    $150k-250k 13 $1,125,000 $86,538 $859 5.21%
    $250k+ 2 $210,000 $105,000 $0 4.38%

    Truecore Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 63 originations. The second most popular income band? $50k-75k, with 57 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 55 $3,775,000 $68,636 $1,028 5.44%
    30-36% 37 $2,335,000 $63,108 $1,243 4.80%
    <20% 32 $1,830,000 $57,188 $676 4.95%
    39% 11 $695,000 $63,182 $1,037 6.09%
    50-60% 9 $435,000 $48,333 $833 7.18%
    42% 7 $515,000 $73,571 $179 7.43%
    38% 7 $445,000 $63,571 $399 6.62%
    36% 6 $360,000 $60,000 $1,407 6.33%
    44% 5 $315,000 $63,000 $569 5.03%
    41% 5 $185,000 $37,000 $509 5.70%
    >60% 4 $200,000 $50,000 $331 5.03%
    45% 3 $355,000 $118,333 $1,543 4.54%
    46% 3 $135,000 $45,000 $569 5.25%
    48% 3 $215,000 $71,667 $1,210 6.83%
    47% 2 $220,000 $110,000 $619 4.31%
    37% 2 $190,000 $95,000 $1,575 4.69%
    40% 2 $130,000 $65,000 $1,475 8.06%
    43% 1 $25,000 $25,000 $0 7.50%

    Truecore Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 55 originations. The next most common DTI ratio? 30-36%, with 37 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 186 $12,000,000 $64,516 $968 5.48%
    American Indian 2 $150,000 $75,000 $2,512 4.69%
    Asian 3 $105,000 $35,000 $359 7.42%
    Black 3 $105,000 $35,000 $569 6.00%

    Approval Rates

    Total approvals of all applications
    90.55%

    Truecore Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.54%

    Truecore Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 194 $12,360,000 $63,711

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 14 $920,000 $65,714
    Single Family (1-4 Units):Site-Built 180 $11,440,000 $63,556

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 50 $2,330,000 $46,600 $591 5.60%
    40-60% 36 $3,080,000 $85,556 $830 4.70%
    60-80% 36 $3,560,000 $98,889 $1,142 4.73%
    80-100% 15 $1,605,000 $107,000 $2,209 4.88%
    Under 20% 57 $1,785,000 $31,316 $288 6.60%