Home Federal Bank Of Tennessee Mortgage Rates, Fees & Info

Knoxville, TN

LEI: 5493001M37Q8TJKTP708

Tax ID: 62-0239150

5 stars - Updated: 12/16/24 - out of 5 stars, based on 25 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Home Federal Bank Of Tennessee is a smaller bank specializing in Home Purchase loans. Home Federal Bank Of Tennessee has a high proportion of conventional loans. Their top markets by origination volume include: Knoxville, Sevierville, Morristown, Newport, and Dayton among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Home Federal Bank Of Tennessee 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. Home Federal Bank Of Tennessee is typically an average 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
    Home Equity Line of Credit (HELOC) 4.12% 12/16/24
    30 Year Conventional Purchase 6.26% 12/16/24
    30 Year Conventional Refi 6.18% 12/16/24
    30 Year Cash-out Refi 6.24% 12/16/24
    30 Year VA Purchase 6.20% 12/16/24
    15 Year Conventional Purchase 5.48% 12/16/24
    15 Year Conventional Refi 5.48% 12/16/24
    15 Year Cash-out Refi 5.48% 12/16/24
    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.

    Home Federal Bank Of Tennessee Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Home Federal Bank Of Tennessee. 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

    643

    Origination Dollar Volume (All Markets)

    $171,225,000

    Awards

    Home Federal Bank of Tennessee 30 Year Conventional Loans gold Home Federal Bank of Tennessee 30 Year Conventional Loans gold
    Show all (2) awards

    Relative Rate

    Home Federal Bank Of Tennessee's average 30 year fixed mortgage rate was 5.67%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of -0.81%.

    Relative Fees (Closing Costs)

    Home Federal Bank Of Tennessee's average total fees/closing costs for a 30 year fixed rate mortgage were $6,323.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

    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
    KNOXVILLE, TN (FHA|USDA|VA) 572 $153,390,000 $268,164 $4,630 5.79%
    Sevierville, TN (FHA|USDA|VA) 34 $7,800,000 $229,412 $4,489 5.68%
    MORRISTOWN, TN (FHA|USDA|VA) 23 $6,365,000 $276,739 $5,223 6.02%
    Outside of Metro Areas 12 $3,010,000 $250,833 $4,686 6.08%
    Newport, TN (FHA|USDA|VA) 1 $505,000 $505,000 $5,413 6.00%
    Dayton, TN (FHA|USDA|VA) 1 $155,000 $155,000 $337 6.00%
    Home Federal Bank Of Tennessee's top markets include Knoxville, Sevierville, Morristown, Newport, and Dayton among others.

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

    • Similar Lenders

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

    CONSUMER Credit Union
    Similarity Rank: 48
    SouthEast Bank
    Similarity Rank: 68
    ENRICHMENT
    Similarity Rank: 230
    Home Federal Bank of Tennessee
    Similarity Rank: 282
    ORNL Federal Credit Union
    Similarity Rank: 612
    Countybank
    Similarity Rank: 648
    Community Trust Bank, Inc.
    Similarity Rank: 648
    Y-12 Federal Credit Union
    Similarity Rank: 784
    SmartBank
    Similarity Rank: 1288
    KNOXVILLE TVA EMPLOYEES CREDIT UNION
    Similarity Rank: 1408

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 513 $150,515,000 $293,402 $4,637 5.90%
    HELOC 130 $20,710,000 $159,308 n/a 5.40%

    For 2023, Home Federal Bank Of Tennessee's most frequently originated type of loan was Conventional, with 513 originations. Their 2nd most popular type was HELOC, with 130 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 337 $129,125,000 $383,160 $6,313 5.77%
    Home Improvement 144 $14,450,000 $100,347 $1,188 5.67%
    Other 86 $13,350,000 $155,233 $1,526 6.10%
    Refi 69 $12,345,000 $178,913 $2,682 5.72%
    Cash Out Refi 7 $1,955,000 $279,286 $5,957 6.48%

    For 2023, Home Federal Bank Of Tennessee's most frequently cited loan purpose was Home Purchase, with 337 originations. The 2nd most popular reason was Home Improvement, with 144 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 198 $65,250,000 $329,545 $6,323 5.67%
    10 Year 144 $21,130,000 $146,736 $855 5.40%
    15 Year 131 $17,005,000 $129,809 $1,407 6.23%
    30+ year 68 $30,050,000 $441,912 $7,793 5.68%
    Other 51 $21,035,000 $412,451 $2,875 6.15%
    20 Year 30 $11,220,000 $374,000 $6,998 5.69%
    1 Year 17 $4,815,000 $283,235 $2,393 6.60%
    5 Year 4 $720,000 $180,000 $753 6.68%

    For 2023, Home Federal Bank Of Tennessee's most frequently cited loan duration was 30 Year, with 198 originations. The 2nd most popular length was 10 Year, with 144 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 179 $16,155,000 $90,251
    $3k-4k 90 $28,570,000 $317,444
    $2k-3k 68 $17,620,000 $259,118
    $5k+ 66 $39,910,000 $604,697
    $4k-5k 54 $21,630,000 $400,556
    $1k-2k 26 $6,020,000 $231,538

    Home Federal Bank Of Tennessee's average total fees were $6,323, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 179 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 213 $53,645,000 $251,854
    6-7% 163 $49,045,000 $300,890
    4-5% 119 $43,915,000 $369,034
    7-8% 50 $10,650,000 $213,000
    Over 8% 50 $7,150,000 $143,000
    <2.5% 48 $6,820,000 $142,083

    During 2023, Home Federal Bank Of Tennessee's average interest rate for loans was 5.67%, while their most frequently originated rate bucket for loans was 5-6%, with 213 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 188 $53,650,000 $285,372 $5,649 5.74%
    $100,000 or less 183 $9,385,000 $51,284 $931 5.92%
    $100k-200k 141 $19,915,000 $141,241 $2,773 5.84%
    $400k-600k 85 $40,885,000 $481,000 $7,687 5.61%
    $600k-1MM 39 $27,105,000 $695,000 $10,006 5.69%
    $1MM+ 7 $20,285,000 $2,897,857 $20,253 5.89%

    2023 saw Home Federal Bank Of Tennessee place emphasis on $200k-400k loans with 188 originations, totaling $53,650,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 138 $34,700,000 $251,449 $4,979 5.86%
    $150k-250k 125 $39,785,000 $318,280 $6,041 5.65%
    $50k-75k 98 $13,450,000 $137,245 $3,127 6.02%
    $75k-100k 98 $21,020,000 $214,490 $4,564 5.53%
    $250k+ 91 $36,325,000 $399,176 $6,315 5.94%
    $50k or less 57 $4,285,000 $75,175 $1,925 5.76%

    Home Federal Bank Of Tennessee lent most frequently to those with incomes in the $100k-150k range, with 138 originations. The second most popular income band? $150k-250k, with 125 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 176 $40,480,000 $230,000 $4,310 5.70%
    30-36% 118 $31,830,000 $269,746 $5,287 5.72%
    <20% 90 $17,130,000 $190,333 $3,745 5.60%
    40% 32 $5,940,000 $185,625 $3,809 6.12%
    36% 23 $6,595,000 $286,739 $5,656 5.41%
    39% 21 $5,845,000 $278,333 $5,456 5.67%
    45% 19 $4,005,000 $210,789 $3,420 6.15%
    37% 19 $5,345,000 $281,316 $5,230 5.24%
    41% 18 $5,720,000 $317,778 $5,720 5.95%
    38% 17 $3,195,000 $187,941 $3,717 6.12%
    42% 16 $4,320,000 $270,000 $5,381 5.66%
    44% 15 $5,645,000 $376,333 $7,052 6.05%
    43% 13 $4,395,000 $338,077 $6,258 5.92%
    50-60% 10 $2,400,000 $240,000 $2,500 6.36%
    48% 9 $1,555,000 $172,778 $2,146 6.21%
    46% 9 $2,505,000 $278,333 $4,963 5.14%
    >60% 7 $2,265,000 $323,571 $3,643 6.16%
    47% 4 $730,000 $182,500 $2,269 6.13%
    49% 2 $350,000 $175,000 $3,538 6.69%

    Home Federal Bank Of Tennessee lent most frequently to those with DTI ratios of 20-30%, with 176 originations. The next most common DTI ratio? 30-36%, with 118 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 587 $141,675,000 $241,354 $4,626 5.75%
    Not applicable 14 $19,220,000 $1,372,857 $16,865 6.52%
    Black 14 $4,080,000 $291,429 $5,280 6.47%
    Asian 13 $3,405,000 $261,923 $4,816 6.10%
    Not provided 12 $1,960,000 $163,333 $2,487 6.17%
    Asian Indian 2 $800,000 $400,000 $11,843 4.37%
    Other Asian 1 $85,000 $85,000 $862 5.50%

    Approval Rates

    Total approvals of all applications
    92.31%

    Home Federal Bank Of Tennessee has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.94%

    Home Federal Bank Of Tennessee has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 643 $171,225,000 $266,291

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    643 $171,225,000 $266,291

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 124 $27,420,000 $221,129 $3,202 5.94%
    40-60% 86 $29,030,000 $337,558 $5,635 5.73%
    60-80% 155 $67,075,000 $432,742 $6,908 5.82%
    80-100% 95 $35,325,000 $371,842 $6,774 5.60%
    Under 20% 183 $12,375,000 $67,623 $1,001 5.81%