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 Cash Out Refi and Home Purchase loans. Truecore Federal 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: Columbus, Zanesville, Coshocton, Mount Vernon, and Cleveland among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Truecore Federal 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. 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% 11/21/24
    30 Year Conventional Refi 6.36% 11/21/24
    30 Year Cash-out Refi 7.04% 11/21/24
    30 Year VA Purchase 7.30% 11/21/24
    15 Year Conventional Refi 5.54% 11/21/24
    15 Year Cash-out Refi 5.54% 11/21/24
    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

    216

    Origination Dollar Volume (All Markets)

    $17,410,000

    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) 198 $15,840,000 $80,000 $1,328 5.14%
    Zanesville, OH (FHA|USDA|VA) 8 $690,000 $86,250 $1,688 4.68%
    Coshocton, OH (FHA|USDA|VA) 3 $265,000 $88,333 $2,694 5.17%
    Mount Vernon, OH (FHA|USDA|VA) 4 $250,000 $62,500 $1,191 6.78%
    CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $185,000 $185,000 $3,313 4.63%
    AKRON, OH (FHA|USDA|VA) 1 $105,000 $105,000 $2,463 3.88%
    SPRINGFIELD, OH (FHA|USDA|VA) 1 $75,000 $75,000 $1,068 3.50%
    Truecore Federal Credit Union's top markets include Columbus, Zanesville, Coshocton, Mount Vernon, and Cleveland 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: 392
    1st National Bank
    Similarity Rank: 450
    HOPEWELL Federal Credit Union
    Similarity Rank: 510
    First Federal Savings and Loan Association
    Similarity Rank: 575
    EDUCATION FIRST CREDIT UNION, INC.
    Similarity Rank: 630
    VICTORY MORTGAGE, L.L.C.
    Similarity Rank: 715
    TrueCore Federal Credit Union
    Similarity Rank: 980
    TELHIO
    Similarity Rank: 1054
    CME Federal Credit Union
    Similarity Rank: 1155
    BMI Federal Credit Union
    Similarity Rank: 1188

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 137 $12,775,000 $93,248 $1,196 4.66%
    HELOC 71 $3,735,000 $52,606 n/a 6.18%
    FHA 6 $680,000 $113,333 $4,625 4.08%
    USDA 2 $220,000 $110,000 $4,122 3.88%

    For 2019, Truecore Federal Credit Union's most frequently originated type of loan was Conventional, with 137 originations. Their 2nd most popular type was HELOC, with 71 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 101 $7,825,000 $77,475 $714 4.71%
    Other 65 $3,265,000 $50,231 $352 6.44%
    Home Purchase 38 $4,700,000 $123,684 $3,099 4.24%
    Refi 10 $1,410,000 $141,000 $1,163 4.39%
    Home Improvement 2 $210,000 $105,000 $2,425 5.00%

    For 2019, Truecore Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 101 originations. The 2nd most popular reason was Other, with 65 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 74 $4,140,000 $55,946 $2,707 6.11%
    15 Year 72 $6,690,000 $92,917 $938 4.52%
    30 Year 38 $5,000,000 $131,579 $2,876 4.43%
    10 Year 18 $1,080,000 $60,000 $574 5.28%
    5 Year 10 $220,000 $22,000 $270 5.39%
    Other 4 $280,000 $70,000 $481 3.48%

    For 2019, Truecore Federal Credit Union's most frequently cited loan duration was 20 Year, with 74 originations. The 2nd most popular length was 15 Year, with 72 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 141 $13,395,000 $95,000
    $1k-2k 4 $280,000 $70,000

    Truecore Federal Credit Union's average total fees were $2,876, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 141 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 64 $3,770,000 $58,906
    3-4% 60 $6,340,000 $105,667
    4-5% 56 $6,090,000 $108,750
    Over 8% 19 $655,000 $34,474
    6-7% 8 $330,000 $41,250
    2.5-3% 6 $150,000 $25,000
    7-8% 3 $75,000 $25,000

    During 2019, Truecore Federal Credit Union's average interest rate for loans was 4.43%, while their most frequently originated rate bucket for loans was 5-6%, with 64 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 148 $7,210,000 $48,716 $954 5.51%
    $100k-200k 56 $7,240,000 $129,286 $2,094 4.36%
    $200k-400k 12 $2,960,000 $246,667 $1,714 4.17%

    2019 saw Truecore Federal Credit Union place emphasis on $100,000 or less loans with 148 originations, totaling $7,210,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 68 $5,210,000 $76,618 $1,326 5.33%
    $50k or less 59 $4,125,000 $69,915 $1,642 4.84%
    $75k-100k 39 $3,065,000 $78,590 $1,291 5.44%
    $100k-150k 37 $3,125,000 $84,459 $1,292 5.22%
    $150k-250k 13 $1,885,000 $145,000 $862 4.32%

    Truecore Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 68 originations. The second most popular income band? $50k or less, with 59 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 78 $5,860,000 $75,128 $1,252 5.11%
    <20% 41 $3,115,000 $75,976 $1,108 4.67%
    30-36% 30 $2,480,000 $82,667 $1,518 5.65%
    50-60% 8 $820,000 $102,500 $1,428 4.56%
    39% 7 $705,000 $100,714 $1,208 6.05%
    40% 7 $635,000 $90,714 $2,557 5.77%
    >60% 6 $700,000 $116,667 $1,945 5.29%
    37% 6 $670,000 $111,667 $1,153 4.53%
    41% 6 $440,000 $73,333 $2,110 4.94%
    44% 6 $470,000 $78,333 $963 5.10%
    43% 4 $380,000 $95,000 $1,687 4.75%
    48% 4 $270,000 $67,500 $1,284 5.90%
    38% 4 $230,000 $57,500 $2,484 6.25%
    36% 3 $175,000 $58,333 $360 6.07%
    42% 2 $90,000 $45,000 $2,154 4.13%
    45% 2 $180,000 $90,000 $716 3.94%
    47% 1 $95,000 $95,000 $2,433 4.75%
    49% 1 $95,000 $95,000 $2,663 4.63%

    Truecore Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 78 originations. The next most common DTI ratio? <20%, with 41 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 208 $16,820,000 $80,865 $1,395 5.09%
    Asian 3 $345,000 $115,000 $1,601 5.79%
    Black 3 $145,000 $48,333 $444 5.54%
    Native Hawaiian or Islander 2 $100,000 $50,000 $569 8.63%

    Approval Rates

    Total approvals of all applications
    86.45%

    Truecore Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.09%

    Truecore Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 216 $17,410,000 $80,602

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 11 $815,000 $74,091
    Single Family (1-4 Units):Site-Built 205 $16,595,000 $80,951

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 38 $2,010,000 $52,895 $556 5.83%
    40-60% 32 $2,450,000 $76,563 $905 4.63%
    60-80% 58 $7,020,000 $121,034 $1,267 4.42%
    80-100% 38 $4,540,000 $119,474 $2,825 4.40%
    Over 100% 1 $105,000 $105,000 $4,114 4.13%
    Under 20% 49 $1,285,000 $26,224 $325 6.36%