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, Zanesville, Mount Vernon, Findlay, and Cleveland among others. We have data for 5 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 relatively high 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

    170

    Origination Dollar Volume (All Markets)

    $16,390,000

    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) 156 $15,230,000 $97,628 $1,305 4.72%
    Zanesville, OH (FHA|USDA|VA) 7 $605,000 $86,429 $1,183 5.18%
    Mount Vernon, OH (FHA|USDA|VA) 5 $355,000 $71,000 $712 3.50%
    Findlay, OH (FHA|USDA|VA) 1 $145,000 $145,000 $1,057 2.99%
    CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $55,000 $55,000 $844 5.50%
    Truecore Federal Credit Union's top markets include Columbus, Zanesville, Mount Vernon, Findlay, 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.

    First Federal Savings and Loan Association
    Similarity Rank: 366
    The Community Bank
    Similarity Rank: 406
    CME Federal Credit Union
    Similarity Rank: 663
    TrueCore Federal Credit Union
    Similarity Rank: 765
    Kingston National Bank
    Similarity Rank: 1152
    THE VINTON COUNTY NATIONAL BANK
    Similarity Rank: 1222
    BMI Federal Credit Union
    Similarity Rank: 1275
    The Merchants National Bank
    Similarity Rank: 1358
    PRIORITY MORTGAGE CORP.
    Similarity Rank: 1491
    KEMBA CREDIT UNION, INC.
    Similarity Rank: 1600

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 92 $10,500,000 $114,130 $1,210 4.59%
    HELOC 77 $5,675,000 $73,701 n/a 4.80%
    VA 1 $215,000 $215,000 $7,432 6.38%

    For 2022, Truecore Federal Credit Union's most frequently originated type of loan was Conventional, with 92 originations. Their 2nd most popular type was HELOC, with 77 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 76 $5,590,000 $73,553 $0 4.84%
    Cash Out Refi 65 $6,285,000 $96,692 $740 4.20%
    Home Purchase 16 $2,630,000 $164,375 $3,683 6.02%
    Refi 13 $1,885,000 $145,000 $940 4.75%

    For 2022, Truecore Federal Credit Union's most frequently cited loan purpose was Other, with 76 originations. The 2nd most popular reason was Cash Out Refi, with 65 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 77 $5,655,000 $73,442 $0 4.80%
    15 Year 38 $4,290,000 $112,895 $807 3.90%
    30 Year 23 $3,565,000 $155,000 $2,802 5.74%
    10 Year 20 $1,280,000 $64,000 $612 4.63%
    20 Year 7 $1,345,000 $192,143 $1,110 4.37%
    5 Year 4 $170,000 $42,500 $613 5.00%
    1 Year 1 $85,000 $85,000 $0 6.00%

    For 2022, Truecore Federal Credit Union's most frequently cited loan duration was Other, with 77 originations. The 2nd most popular length was 15 Year, with 38 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 90 $10,370,000 $115,222
    $1k-2k 1 $115,000 $115,000
    $5k+ 1 $165,000 $165,000

    Truecore Federal Credit Union's average total fees were $2,802, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 90 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 45 $4,605,000 $102,333
    3-4% 42 $3,950,000 $94,048
    4-5% 33 $2,745,000 $83,182
    6-7% 21 $1,795,000 $85,476
    <2.5% 12 $1,590,000 $132,500
    2.5-3% 11 $1,215,000 $110,455
    7-8% 3 $375,000 $125,000
    Over 8% 3 $115,000 $38,333

    During 2022, Truecore Federal Credit Union's average interest rate for loans was 5.74%, while their most frequently originated rate bucket for loans was 5-6%, with 45 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 103 $5,435,000 $52,767 $757 4.81%
    $100k-200k 51 $7,105,000 $139,314 $1,533 4.49%
    $200k-400k 16 $3,850,000 $240,625 $2,176 4.66%

    2022 saw Truecore Federal Credit Union place emphasis on $100,000 or less loans with 103 originations, totaling $5,435,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 54 $5,200,000 $96,296 $1,583 4.75%
    $75k-100k 46 $4,580,000 $99,565 $957 4.66%
    $100k-150k 29 $3,475,000 $119,828 $1,290 4.57%
    $50k or less 29 $1,845,000 $63,621 $1,328 5.03%
    $150k-250k 10 $1,010,000 $101,000 $850 4.31%
    $250k+ 2 $280,000 $140,000 $863 3.25%

    Truecore Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 54 originations. The second most popular income band? $75k-100k, with 46 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 42 $3,460,000 $82,381 $1,011 4.57%
    30-36% 36 $4,100,000 $113,889 $1,414 4.74%
    <20% 30 $2,330,000 $77,667 $981 4.50%
    36% 9 $925,000 $102,778 $1,357 4.38%
    50-60% 8 $870,000 $108,750 $1,152 5.09%
    43% 7 $795,000 $113,571 $930 5.14%
    39% 5 $645,000 $129,000 $718 3.97%
    40% 5 $505,000 $101,000 $718 4.73%
    42% 5 $545,000 $109,000 $794 4.63%
    49% 4 $350,000 $87,500 $4,983 4.19%
    41% 4 $330,000 $82,500 $768 6.06%
    37% 4 $580,000 $145,000 $3,788 4.94%
    44% 3 $165,000 $55,000 $806 5.25%
    45% 3 $345,000 $115,000 $1,512 6.08%
    46% 2 $180,000 $90,000 $2,576 3.75%
    48% 1 $125,000 $125,000 $808 5.25%
    47% 1 $65,000 $65,000 $0 5.00%
    >60% 1 $75,000 $75,000 $545 5.75%

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

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 159 $14,905,000 $93,742 $1,277 4.70%
    Not provided 5 $745,000 $149,000 $2,046 3.50%
    Asian 3 $615,000 $205,000 $0 6.00%
    Asian Indian 1 $75,000 $75,000 $545 5.75%
    Black 2 $50,000 $25,000 $545 4.88%

    Approval Rates

    Total approvals of all applications
    90.15%

    Truecore Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    65.88%

    Truecore Federal 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
    NA 170 $16,390,000 $96,412

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    170 $16,390,000 $96,412

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 53 $3,835,000 $72,358 $691 4.83%
    40-60% 29 $3,415,000 $117,759 $934 4.16%
    60-80% 32 $5,270,000 $164,688 $1,270 4.34%
    80-100% 11 $1,915,000 $174,091 $3,936 5.89%
    Under 20% 45 $1,955,000 $43,444 $610 4.85%