Home Federal Bank Of Tennessee Mortgage Rates, Fees & Info
Knoxville, TNLEI: 5493001M37Q8TJKTP708
Tax ID: 62-0239150
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Mortgage Data
Bank Data
Review & Overview
Home Federal Bank Of Tennessee is a smaller bank specializing in Refi and Home Purchase loans. Home Federal Bank Of Tennessee 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: Knoxville, Sevierville, Morristown, Nashville, and Johnson City among others. We have data for 8 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 an above average pick rate when compared to similar lenders. Home Federal Bank Of Tennessee 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 4.12% | 4/21/24 |
| 30 Year Conventional Purchase | 6.26% | 4/21/24 |
| 30 Year Conventional Refi | 6.18% | 4/21/24 |
| 30 Year Cash-out Refi | 6.24% | 4/21/24 |
| 30 Year VA Purchase | 6.20% | 4/21/24 |
| 15 Year Conventional Purchase | 5.48% | 4/21/24 |
| 15 Year Conventional Refi | 5.48% | 4/21/24 |
| 15 Year Cash-out Refi | 5.48% | 4/21/24 |
| 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. | ||
Home Federal Bank Of Tennessee Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,304Origination Dollar Volume (All Markets)
$288,410,000Employee count
393Awards
Home Federal Bank of Tennessee - 2020
Home Federal Bank of Tennessee is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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) | 1,175 | $263,975,000 | $224,660 | $3,799 | 2.86% |
| Sevierville, TN (FHA|USDA|VA) | 78 | $13,420,000 | $172,051 | $3,628 | 2.96% |
| MORRISTOWN, TN (FHA|USDA|VA) | 34 | $6,880,000 | $202,353 | $4,293 | 2.70% |
| Outside of Metro Areas | 13 | $3,125,000 | $240,385 | $4,425 | 3.20% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $6,860 | 2.88% |
| JOHNSON CITY, TN (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $3,384 | 2.38% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,586 | 3.63% |
| Athens, TN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,399 | 2.88% |
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.
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Product Mix
For 2020, Home Federal Bank Of Tennessee's most frequently originated type of loan was Conventional, with 1,126 originations. Their 2nd most popular type was HELOC, with 173 originations.
Loan Reason
For 2020, Home Federal Bank Of Tennessee's most frequently cited loan purpose was Refi, with 587 originations. The 2nd most popular reason was Home Purchase, with 444 originations.
Loan Duration/Length
For 2020, Home Federal Bank Of Tennessee's most frequently cited loan duration was 30 Year, with 461 originations. The 2nd most popular length was 15 Year, with 345 originations.
Origination Fees/Closing Costs
Home Federal Bank Of Tennessee's average total fees were $4,473, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 325 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 491 | $114,525,000 | $233,248 |
| 3-4% | 405 | $92,575,000 | $228,580 |
| <2.5% | 367 | $75,025,000 | $204,428 |
| 4-5% | 41 | $6,285,000 | $153,293 |
During 2020, Home Federal Bank Of Tennessee's average interest rate for loans was 2.94%, while their most frequently originated rate bucket for loans was 2.5-3%, with 491 originations.
Loan Sizing
2020 saw Home Federal Bank Of Tennessee place emphasis on $100k-200k loans with 487 originations, totaling $71,885,000 in origination value.
Applicant Income
Home Federal Bank Of Tennessee lent most frequently to those with incomes in the $100k-150k range, with 286 originations. The second most popular income band? $50k-75k, with 245 originations.
Applicant Debt to Income Ratio
Home Federal Bank Of Tennessee lent most frequently to those with DTI ratios of 20-30%, with 391 originations. The next most common DTI ratio? <20%, with 312 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.90%
Home Federal Bank Of Tennessee has an average approval rate.
Pick Rate
Approvals leading to origination93.17%
Home Federal Bank Of Tennessee has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,304 | $288,410,000 | $221,173 |
Occupancy Type Mix
LTV Distribution
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Home Federal Bank of Tennessee | 102 Foothills Mall Dr Maryville, TN 37801 | Full Service B&M | $75,091 |
| Home Federal Bank of Tennessee | 10396 Kingston Pike Knoxville, TN 37922 | Full Service B&M | $89,890 |
| Home Federal Bank of Tennessee | 105 East Emory Road Powell, TN 37849 | Full Service B&M | $73,594 |
| Home Federal Bank of Tennessee | 1125 Oak Ridge Turnpike Oak Ridge, TN 37830 | Full Service B&M | $55,620 |
| Home Federal Bank of Tennessee | 11320 Chapman Highway Seymour, TN 37865 | Full Service B&M | $44,501 |
| Home Federal Bank of Tennessee | 11686 Parkside Drive Knoxville, TN 37922 | Full Service B&M | $64,295 |
| Home Federal Bank of Tennessee | 1700 Downtown West Blvd Knoxville, TN 37919 | Full Service B&M | $84,902 |
| Home Federal Bank of Tennessee | 2940 South Mall Road Ne Knoxville, TN 37917 | Full Service B&M | $24,321 |
| Home Federal Bank of Tennessee | 3001 East Magnolia Avenue Knoxville, TN 37914 | Full Service B&M | $65,201 |
| Home Federal Bank of Tennessee | 307 Parkway Sevierville, TN 37862 | Full Service B&M | $76,612 |
| Home Federal Bank of Tennessee | 3101 N. Broadway Knoxville, TN 37917 | Full Service B&M | $108,160 |
| Home Federal Bank of Tennessee | 315 North Cedar Bluff Road Knoxville, TN 37923 | Full Service B&M | $94,330 |
| Home Federal Bank of Tennessee | 3671 Parkway Pigeon Forge, TN 37863 | Full Service B&M | $9,513 |
| Home Federal Bank of Tennessee | 4444 Chapman Highway Knoxville, TN 37920 | Full Service B&M | $112,576 |
| Home Federal Bank of Tennessee | 4900 N Broadway Knoxville, TN 37918 | Full Service B&M | $98,842 |
| Home Federal Bank of Tennessee | 501 Merchants Drive Knoxville, TN 37912 | Full Service B&M | $112,892 |
| Home Federal Bank of Tennessee | 515 Market Street Knoxville, TN 37901 | Full Service B&M | $165,460 |
| Home Federal Bank of Tennessee | 535 Parkway E. Gatlinburg, TN 37738 | Full Service B&M | $15,262 |
| Home Federal Bank of Tennessee | 5538 Kingston Pike Knoxville, TN 37919 | Full Service B&M | $170,887 |
| Home Federal Bank of Tennessee | 6948 Maynardville Highway Knoxville, TN 37918 | Full Service B&M | $132,927 |
| Home Federal Bank of Tennessee | 7204 Oak Ridge Highway Knoxville, TN 37931 | Full Service B&M | $118,056 |
| Home Federal Bank of Tennessee | 7502 Tazewell Pike Corryton, TN 37721 | Full Service B&M | $47,335 |
| Home Federal Bank of Tennessee | 7600 Asheville Highway Knoxville, TN 37924 | Full Service B&M | $70,069 |
For 2020, Home Federal Bank Of Tennessee had 23 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $61,047 |
| Net interest income | $50,155 |
| Total noninterest income | $12,132 |
| Gross Fiduciary activities income | $4,770 |
| Service charges on deposit accounts | $1,416 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $5,946 |
| Pre-tax net operating income | $12,581 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $10,235 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $10,235 |
| Minority interest net income | $0 |
| Net income | $10,235 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $10,235 |
Home Federal Bank Of Tennessee's gross interest income from loans was $61,047,000.
Home Federal Bank Of Tennessee's net interest income from loans was $50,155,000.
Home Federal Bank Of Tennessee's fee based income from loans was $1,416,000.
Home Federal Bank Of Tennessee's net income from loans was $10,235,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $10,892 |
| Provision for credit losses | $1,200 |
| Total noninterest expense | $48,506 |
| Salaries and employee benefits | $30,630 |
| Premises and equipment expense | $7,484 |
| Additional noninterest expense | $10,392 |
| Applicable income taxes | $2,346 |
| Net charge-offs | $-775 |
| Cash dividends | $0 |
Home Federal Bank Of Tennessee's interest expense for loans was $10,892,000.
Home Federal Bank Of Tennessee's payroll and benefits expense were $30,630,000.
Home Federal Bank Of Tennessee's property, plant and equipment expenses $7,484,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 0.0% |
| Real Estate loans | 0.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 1.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 0.0% |
| HELOC loans | 0.0% |
| All other family | 0.0% |
| Commercial & industrial loans | 0.0% |
| Personal loans | 0.0% |
| Credit card loans | 0.0% |
| Other individual loans | 0.0% |
| Auto loans | 0.0% |
| Other consumer loans | 0.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $2,006,345 |
| Deposits held in domestic offices | $2,006,345 |
| Deposits by Individuals, partnerships, and corporations | $1,982,909 |
| Deposits by U.S. Government | $21 |
| Deposits by States and political subdivisions in the U.S. | $19,273 |
| Deposits by Commercial banks and other depository institutions in U.S. | $4,142 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $312,940 |
| Demand deposits | $296,210 |
| Nontransaction accounts | $1,693,405 |
| Money market deposit accounts (MMDAs) | $688,928 |
| Other savings deposits (excluding MMDAs) | $463,445 |
| Total time deposits | $541,032 |
| Total time and savings deposits | $1,710,135 |
| Noninterest-bearing deposits | $293,963 |
| Interest-bearing deposits | $1,712,382 |
| Retail deposits | $1,895,511 |
| IRAs and Keogh plan accounts | $151,152 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $2,541,489 |
| Cash & Balances due from depository institutions | $142,799 |
| Interest-bearing balances | $113,123 |
| Total securities | $1,225,657 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $1,117,066 |
| Loan and leases loss allowance | $11,208 |
| Trading account assets | $2,993 |
| Bank premises and fixed assets | $27,580 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $0 |
| All other assets | $25,394 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $2,541,489 |
| Total Liabilities | $2,121,131 |
| Total deposits | $2,006,345 |
| Interest-bearing deposits | $1,712,382 |
| Deposits held in domestic offices | $2,006,345 |
| % insured (estimated) | $82 |
| Federal funds purchased and repurchase agreements | $94,662 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $0 |
| All other liabilities | $20,124 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $1,117,066 |
| Loan and leases loss allowance | $11,208 |
| Total loans and leases (domestic) | $1,128,274 |
| All real estate loans | $910,473 |
| Real estate loans in domestic offices | $910,473 |
| Construction and development loans | $118,093 |
| Residential 1-4 family construction | $42,790 |
| Other construction, all land development and other land | $75,303 |
| Loans secured by nonfarm nonresidential properties | $300,349 |
| Nonfarm nonresidential secured by owner-occupied properties | $111,255 |
| Commercial real estate & other non-farm, non-residential | $189,094 |
| Multifamily residential real estate | $6,536 |
| 1-4 family residential loans | $481,641 |
| Farmland loans | $3,854 |
| Loans held in foreign offices | $0 |
| Farm loans | $134 |
| Commercial and industrial loans | $68,683 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $5,808 |
| Credit card loans | $0 |
| Related Plans | $132 |
| Consumer Auto Loans | $418 |
| Other loans to individuals | $5,258 |
| All other loans & leases | $143,176 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $50,113 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $2,553 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $0 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
Home Federal Bank of Tennessee had $1,117,066,000 of loans outstanding in 2020. $910,473,000 of loans were in real estate loans. $118,093,000 of loans were in development loans. $6,536,000 of loans were in multifamily mortgage loans. $481,641,000 of loans were in 1-4 family mortgage loans. $134,000 of loans were in farm loans. $0 of loans were in credit card loans. $418,000 of loans were in the auto loan category.
Small Business Loans
| Categorization | # of Loans in Category | $ amount of loans (in 000's) | Average $/loan |
|---|---|---|---|
| Nonfarm, nonresidential loans - <$1MM | 164 | $42,880 | $261,463 |
| Nonfarm, nonresidential loans - <$100k | 16 | $913 | $57,063 |
| Nonfarm, nonresidential loans - $100-250k | 55 | $6,391 | $116,200 |
| Nonfarm, nonresidential loans - $250k-1MM | 93 | $35,576 | $382,538 |
| Commercial & Industrial, US addressed loans - <$1MM | 492 | $34,356 | $69,829 |
| Commercial & Industrial, US addressed loans - <$100k | 373 | $9,660 | $25,898 |
| Commercial & Industrial, US addressed loans - $100-250k | 71 | $9,010 | $126,901 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 48 | $15,686 | $326,792 |
| Farmland loans - <$1MM | 2 | $288 | $144,000 |
| Farmland loans - $100-250k | 1 | $102 | $102,000 |
| Farmland loans - $250k-1MM | 1 | $186 | $186,000 |
| Agriculture operations loans - <$1MM | 2 | $134 | $67,000 |
| Agriculture operations loans - <$100k | 1 | $8 | $8,000 |
| Agriculture operations loans - $100-250k | 1 | $126 | $126,000 |