Y-12 Federal Credit Union Mortgage Rates, Fees & Info

Oak Ridge, TN

LEI: 5493004NO7XCFVG4KD53

Tax ID: 62-0473619

5 stars - Updated: 12/8/24 - out of 5 stars, based on 34 reviews

Latest/2023 | 2022 Data | 2021 Data | 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 and Home Purchase loans. Y-12 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.) Their top markets by origination volume include: Knoxville, Kingsport, Johnson City, Sevierville, and Nashville among others. We have data for 16 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 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.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.27% 12/8/24
30 Year Conventional Purchase 7.09% 12/8/24
30 Year Conventional Refi 6.91% 12/8/24
30 Year Cash-out Refi 7.16% 12/8/24
30 Year USDA Purchase 7.82% 12/8/24
15 Year Conventional Purchase 5.77% 12/8/24
15 Year Conventional Refi 5.86% 12/8/24
15 Year Cash-out Refi 5.86% 12/8/24
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.

Y-12 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 Y-12 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

1,175

Origination Dollar Volume (All Markets)

$163,175,000

Awards

Y-12 Federal Credit Union 30 Year Conventional Loans bronze
Show all (1) awards

Relative Rate

Y-12 Federal Credit Union's average 30 year fixed mortgage rate was 6.66%.

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

This yields a difference of 0.18%.

Relative Fees (Closing Costs)

Y-12 Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $5,343.

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) 1,050 $136,950,000 $130,429 $5,058 6.89%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 4 $4,240,000 $1,060,000 $0 6.41%
JOHNSON CITY, TN (FHA|USDA|VA) 1 $4,205,000 $4,205,000 $0 6.60%
Sevierville, TN (FHA|USDA|VA) 43 $4,115,000 $95,698 $8,244 6.97%
Outside of Metro Areas 30 $2,870,000 $95,667 $4,115 6.43%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 4 $2,450,000 $612,500 $0 7.19%
Athens, TN (FHA|USDA|VA) 9 $1,635,000 $181,667 $6,561 6.90%
Shelbyville, TN (FHA|USDA|VA) 1 $1,505,000 $1,505,000 $0 8.25%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 3 $1,285,000 $428,333 $0 5.65%
MORRISTOWN, TN (FHA|USDA|VA) 13 $1,235,000 $95,000 $4,432 7.87%
Crossville, TN (FHA|USDA|VA) 7 $1,045,000 $149,286 $5,695 7.07%
Dayton, TN (FHA|USDA|VA) 2 $610,000 $305,000 $0 7.75%
CLEVELAND, TN (FHA|USDA|VA) 4 $500,000 $125,000 $6,200 6.68%
Newport, TN (FHA|USDA|VA) 2 $380,000 $190,000 $6,656 5.37%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $95,000 $95,000 $0 8.25%
Greeneville, TN (FHA|USDA|VA) 1 $55,000 $55,000 $0 3.99%
Y-12 Federal Credit Union's top markets include Knoxville, Kingsport, Johnson City, Sevierville, and Nashville among others.

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

    SouthEast Bank
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 940 $85,700,000 $91,170 n/a 6.95%
    Conventional 234 $77,420,000 $330,855 $5,102 6.63%
    FHA 1 $55,000 $55,000 $0 9.99%

    For 2023, Y-12 Federal Credit Union's most frequently originated type of loan was HELOC, with 940 originations. Their 2nd most popular type was Conventional, with 234 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 402 $32,030,000 $79,677 $0 6.70%
    Cash Out Refi 277 $39,735,000 $143,448 $3,471 6.96%
    Other 265 $17,195,000 $64,887 $0 7.18%
    Home Purchase 219 $72,335,000 $330,297 $5,879 6.84%
    Refi 12 $1,880,000 $156,667 $3,458 6.41%

    For 2023, Y-12 Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 402 originations. The 2nd most popular reason was Cash Out Refi, with 277 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 936 $81,360,000 $86,923 $2,160 6.94%
    30 Year 161 $43,955,000 $273,012 $5,343 6.66%
    10 Year 43 $25,485,000 $592,674 $3,862 6.65%
    15 Year 25 $7,255,000 $290,200 $3,589 6.38%
    5 Year 8 $4,920,000 $615,000 $0 8.50%
    Other 2 $200,000 $100,000 $3,798 7.19%

    For 2023, Y-12 Federal Credit Union's most frequently cited loan duration was 20 Year, with 936 originations. The 2nd most popular length was 30 Year, with 161 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 55 $8,965,000 $163,000
    $2k-3k 53 $10,095,000 $190,472
    $3k-4k 37 $10,325,000 $279,054
    $4k-5k 22 $7,870,000 $357,727
    $5k+ 14 $7,480,000 $534,286
    $<1k 5 $3,485,000 $697,000

    Y-12 Federal Credit Union's average total fees were $5,343, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 55 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 380 $39,920,000 $105,053
    3-4% 299 $27,155,000 $90,819
    7-8% 281 $30,585,000 $108,843
    6-7% 174 $53,440,000 $307,126
    5-6% 32 $8,620,000 $269,375
    4-5% 8 $3,420,000 $427,500
    <2.5% 1 $35,000 $35,000

    During 2023, Y-12 Federal Credit Union's average interest rate for loans was 6.66%, while their most frequently originated rate bucket for loans was Over 8%, with 380 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 686 $37,190,000 $54,213 $2,905 7.01%
    $100k-200k 281 $37,875,000 $134,786 $4,212 6.78%
    $200k-400k 159 $43,925,000 $276,258 $5,330 6.61%
    $400k-600k 29 $13,705,000 $472,586 $8,321 6.72%
    $600k-1MM 12 $9,130,000 $760,833 $8,846 6.91%
    $1MM+ 8 $21,350,000 $2,668,750 $5,823 6.94%

    2023 saw Y-12 Federal Credit Union place emphasis on $100,000 or less loans with 686 originations, totaling $37,190,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 314 $36,190,000 $115,255 $6,095 6.60%
    $75k-100k 249 $25,675,000 $103,112 $4,792 6.96%
    $50k-75k 214 $18,380,000 $85,888 $4,614 7.21%
    $150k-250k 181 $30,835,000 $170,359 $6,240 6.95%
    $50k or less 114 $7,590,000 $66,579 $3,327 6.89%
    $250k+ 55 $15,705,000 $285,545 $6,416 7.01%

    Y-12 Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 314 originations. The second most popular income band? $75k-100k, with 249 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 223 $21,445,000 $96,166 $4,898 6.54%
    30-36% 180 $22,200,000 $123,333 $4,940 6.95%
    50-60% 67 $6,785,000 $101,269 $3,905 6.91%
    <20% 60 $6,040,000 $100,667 $4,257 6.50%
    49% 54 $7,060,000 $130,741 $7,144 7.26%
    43% 52 $7,250,000 $139,423 $4,384 7.32%
    48% 48 $4,770,000 $99,375 $3,920 7.00%
    47% 44 $3,660,000 $83,182 $3,996 6.97%
    42% 41 $4,695,000 $114,512 $5,050 7.26%
    36% 41 $5,115,000 $124,756 $6,467 7.00%
    44% 41 $4,645,000 $113,293 $4,879 7.12%
    46% 41 $7,045,000 $171,829 $6,668 6.77%
    39% 40 $5,970,000 $149,250 $5,528 6.63%
    40% 38 $4,960,000 $130,526 $6,232 6.50%
    45% 38 $5,210,000 $137,105 $6,040 7.35%
    38% 37 $3,935,000 $106,351 $4,735 6.82%
    41% 35 $3,335,000 $95,286 $3,053 7.42%
    37% 35 $3,785,000 $108,143 $6,500 6.98%
    >60% 5 $1,225,000 $245,000 $3,880 5.84%

    Y-12 Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 223 originations. The next most common DTI ratio? 30-36%, with 180 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 788 $103,240,000 $131,015 $5,081 6.90%
    Not applicable 38 $28,100,000 $739,474 $0 6.92%
    Not provided 305 $26,175,000 $85,820 $5,851 6.89%
    Black 33 $3,795,000 $115,000 $3,674 6.70%
    Asian 4 $1,090,000 $272,500 $0 5.24%
    American Indian 5 $615,000 $123,000 $6,179 7.12%
    Native Hawaiian or Islander 2 $160,000 $80,000 $0 8.63%

    Approval Rates

    Total approvals of all applications
    77.77%

    Y-12 Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    87.91%

    Y-12 Federal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,175 $163,175,000 $138,872

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,175 $163,175,000 $138,872

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 339 $36,605,000 $107,979 $3,502 6.77%
    40-60% 107 $21,505,000 $200,981 $4,124 7.07%
    60-80% 90 $41,250,000 $458,333 $4,929 6.94%
    80-100% 116 $35,710,000 $307,845 $5,827 6.59%
    Under 20% 523 $28,105,000 $53,738 $2,491 6.99%