Y-12 Federal Credit Union Mortgage Rates, Fees & Info
Oak Ridge, TNLEI: 5493004NO7XCFVG4KD53
Tax ID: 62-0473619
Latest/2021 | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Y-12 Federal Credit Union is a smaller credit union specializing in Cash Out Refi, Home Purchase, and Refi loans. Y-12 Federal Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Knoxville, Sevierville, Morristown, Crossville, and Chattanooga among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)Y-12 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. Y-12 Federal Credit Union 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 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) | 6.27% | 3/19/23 |
| 30 Year Conventional Purchase | 7.13% | 3/19/23 |
| 30 Year Conventional Refi | 6.65% | 3/19/23 |
| 30 Year Cash-out Refi | 6.84% | 3/19/23 |
| 30 Year USDA Purchase | 7.37% | 3/19/23 |
| 15 Year Conventional Purchase | 6.62% | 3/19/23 |
| 15 Year Conventional Refi | 6.09% | 3/19/23 |
| 15 Year Cash-out Refi | 6.09% | 3/19/23 |
| 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. | ||
Originations
1,408Origination Dollar Volume (All Markets)
$237,380,000Awards
Y-12 Federal Credit Union - 2021
Y-12 Federal Credit Union is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
Y-12 Federal Credit Union's average 30 year fixed mortgage rate was
3.36%.
The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.
This yields a difference of 0.21%.
Relative Fees (Closing Costs)
Y-12 Federal Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,578.
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 $4,750.
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) | 1,255 | $213,005,000 | $169,725 | $3,019 | 2.71% |
| Sevierville, TN (FHA|USDA|VA) | 61 | $10,035,000 | $164,508 | $2,576 | 2.62% |
| Outside of Metro Areas | 35 | $4,835,000 | $138,143 | $3,419 | 2.87% |
| MORRISTOWN, TN (FHA|USDA|VA) | 25 | $3,805,000 | $152,200 | $3,263 | 2.91% |
| Crossville, TN (FHA|USDA|VA) | 8 | $1,040,000 | $130,000 | $2,870 | 3.20% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 5 | $975,000 | $195,000 | $5,078 | 3.42% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 3 | $925,000 | $308,333 | $4,730 | 3.45% |
| NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) | 4 | $600,000 | $150,000 | $5,359 | 2.24% |
| Athens, TN (FHA|USDA|VA) | 4 | $590,000 | $147,500 | $3,384 | 2.75% |
| JOHNSON CITY, TN (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $0 | 3.63% |
| CLEVELAND, TN (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $2,904 | 3.06% |
| Dayton, TN (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $2,167 | 2.50% |
| Greeneville, TN (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 3.85% |
| Newport, TN (FHA|USDA|VA) | 2 | $90,000 | $45,000 | $0 | 1.99% |
Similar Lenders
We use machine learning to identify the top lenders compared against Y-12 Federal Credit Union 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
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 877 | $200,545,000 | $228,672 | $2,994 | 3.10% |
| HELOC | 519 | $34,925,000 | $67,293 | n/a | 2.07% |
| USDA | 12 | $1,910,000 | $159,167 | $5,433 | 3.53% |
For 2021, Y-12 Federal Credit Union's most frequently originated type of loan was Conventional, with 877 originations. Their 2nd most popular type was HELOC, with 519 originations.
Loan Reason
For 2021, Y-12 Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 401 originations. The 2nd most popular reason was Home Purchase, with 318 originations.
Loan Duration/Length
For 2021, Y-12 Federal Credit Union's most frequently cited loan duration was 20 Year, with 581 originations. The 2nd most popular length was 30 Year, with 446 originations.
Origination Fees/Closing Costs
Y-12 Federal Credit Union's average total fees were $3,578, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 407 originations.
Interest Rates
During 2021, Y-12 Federal Credit Union's average interest rate for loans was 3.36%, while their most frequently originated rate bucket for loans was <2.5%, with 702 originations.
Loan Sizing
2021 saw Y-12 Federal Credit Union place emphasis on $100,000 or less loans with 539 originations, totaling $28,685,000 in origination value.
Applicant Income
Y-12 Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 313 originations. The second most popular income band? $75k-100k, with 287 originations.
Applicant Debt to Income Ratio
Y-12 Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 368 originations. The next most common DTI ratio? 30-36%, with 254 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications84.33%
Y-12 Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination85.51%
Y-12 Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,408 | $237,380,000 | $168,594 |