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

Oak Ridge, TN

LEI: 5493004NO7XCFVG4KD53

Tax ID: 62-0473619

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

    Y-12 Federal Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. Y-12 Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Knoxville, Sevierville, Morristown, Nashville, and Crossville 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 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.

    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% 4/21/24
    30 Year Conventional Purchase 7.09% 4/21/24
    30 Year Conventional Refi 6.91% 4/21/24
    30 Year Cash-out Refi 7.16% 4/21/24
    30 Year USDA Purchase 7.82% 4/21/24
    15 Year Conventional Purchase 5.77% 4/21/24
    15 Year Conventional Refi 5.86% 4/21/24
    15 Year Cash-out Refi 5.86% 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.

    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

    517

    Origination Dollar Volume (All Markets)

    $91,915,000

    Awards

    Y-12 Federal Credit Union 30 Year Conventional Loans gold
    Show all (1) 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
    KNOXVILLE, TN (FHA|USDA|VA) 446 $79,970,000 $179,305 $3,517 4.55%
    Sevierville, TN (FHA|USDA|VA) 24 $4,070,000 $169,583 $3,402 4.31%
    Outside of Metro Areas 18 $2,690,000 $149,444 $3,432 4.63%
    MORRISTOWN, TN (FHA|USDA|VA) 9 $1,925,000 $213,889 $3,746 4.54%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 3 $685,000 $228,333 $3,466 3.79%
    Crossville, TN (FHA|USDA|VA) 4 $530,000 $132,500 $3,066 4.44%
    Athens, TN (FHA|USDA|VA) 3 $505,000 $168,333 $3,269 4.21%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 2 $470,000 $235,000 $3,722 5.69%
    CLEVELAND, TN (FHA|USDA|VA) 1 $215,000 $215,000 $3,821 4.25%
    KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 2 $210,000 $105,000 $2,368 4.04%
    Newport, TN (FHA|USDA|VA) 2 $200,000 $100,000 $2,769 4.38%
    Lewisburg, TN (FHA|USDA|VA) 1 $195,000 $195,000 $3,893 5.00%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $165,000 $165,000 $3,981 4.00%
    Dayton, TN (FHA|USDA|VA) 1 $85,000 $85,000 $2,735 4.88%
    Y-12 Federal Credit Union's top markets include Knoxville, Sevierville, Morristown, Nashville, and Crossville 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.

    Home Federal Bank of Tennessee
    Similarity Rank: 376
    SmartBank
    Similarity Rank: 589
    Y-12 Federal Credit Union
    Similarity Rank: 840
    U. T.
    Similarity Rank: 910
    Countybank
    Similarity Rank: 1122
    Community Trust Bank, Inc.
    Similarity Rank: 1128
    CLEARPATH LENDING
    Similarity Rank: 1288
    ORNL Federal Credit Union
    Similarity Rank: 1320
    KNOXVILLE TVA EMPLOYEES CREDIT UNION
    Similarity Rank: 1326
    Commercial Bank
    Similarity Rank: 1767

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 517 $91,915,000 $177,785 $3,504 4.54%

    For 2018, Y-12 Federal Credit Union's most frequently originated type of loan was Conventional, with 517 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 352 $65,870,000 $187,131 $3,576 4.57%
    Refi 134 $22,200,000 $165,672 $3,398 4.44%
    Cash Out Refi 27 $3,355,000 $124,259 $2,995 4.53%
    Home Improvement 4 $490,000 $122,500 $3,133 4.28%

    For 2018, Y-12 Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 352 originations. The 2nd most popular reason was Refi, with 134 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 388 $70,740,000 $182,320 $3,555 4.65%
    15 Year 57 $10,915,000 $191,491 $3,392 4.03%
    20 Year 32 $4,580,000 $143,125 $3,317 4.50%
    Other 19 $2,695,000 $141,842 $3,368 4.12%
    10 Year 13 $1,425,000 $109,615 $3,092 3.72%
    5 Year 8 $1,560,000 $195,000 $2,506 4.94%

    For 2018, Y-12 Federal Credit Union's most frequently cited loan duration was 30 Year, with 388 originations. The 2nd most popular length was 15 Year, with 57 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 357 $48,635,000 $136,232
    $2k-3k 72 $21,250,000 $295,139
    $<1k 63 $13,415,000 $212,937
    $3k-4k 7 $3,355,000 $479,286

    Y-12 Federal Credit Union's average total fees were $3,555, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 357 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 280 $50,810,000 $181,464
    3-4% 118 $19,540,000 $165,593
    5-6% 94 $17,910,000 $190,532
    6-7% 15 $1,975,000 $131,667
    2.5-3% 9 $1,595,000 $177,222
    7-8% 1 $85,000 $85,000

    During 2018, Y-12 Federal Credit Union's average interest rate for loans was 4.65%, while their most frequently originated rate bucket for loans was 4-5%, with 280 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 243 $36,235,000 $149,115 $3,370 4.58%
    $200k-400k 143 $37,655,000 $263,322 $4,108 4.42%
    $100,000 or less 114 $8,610,000 $75,526 $2,775 4.58%
    $400k-600k 16 $7,390,000 $461,875 $5,391 4.46%
    $1MM+ 1 $2,025,000 $2,025,000 $0 5.45%

    2018 saw Y-12 Federal Credit Union place emphasis on $100k-200k loans with 243 originations, totaling $36,235,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 142 $16,580,000 $116,761 $3,136 4.51%
    $50k-75k 115 $16,775,000 $145,870 $3,295 4.59%
    $100k-150k 93 $20,225,000 $217,473 $3,870 4.45%
    $75k-100k 84 $15,720,000 $187,143 $3,630 4.59%
    $150k-250k 57 $14,065,000 $246,754 $3,920 4.54%
    $250k+ 13 $3,565,000 $274,231 $4,591 4.16%

    Y-12 Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 142 originations. The second most popular income band? $50k-75k, with 115 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 132 $23,270,000 $176,288 $3,524 4.42%
    30-36% 99 $16,365,000 $165,303 $3,547 4.50%
    <20% 68 $11,570,000 $170,147 $3,435 4.28%
    41% 25 $4,355,000 $174,200 $3,461 4.68%
    40% 21 $3,805,000 $181,190 $3,556 4.65%
    38% 17 $2,475,000 $145,588 $3,345 4.97%
    39% 17 $3,075,000 $180,882 $3,474 4.38%
    36% 17 $3,195,000 $187,941 $3,579 4.79%
    43% 15 $2,515,000 $167,667 $3,362 4.88%
    42% 14 $1,850,000 $132,143 $3,440 4.67%
    45% 12 $2,030,000 $169,167 $3,531 4.85%
    37% 11 $2,065,000 $187,727 $3,656 4.61%
    47% 10 $2,130,000 $213,000 $3,790 4.84%
    46% 10 $1,780,000 $178,000 $3,547 4.61%
    50-60% 10 $2,590,000 $259,000 $3,975 4.06%
    44% 8 $1,410,000 $176,250 $3,333 4.38%
    48% 7 $875,000 $125,000 $3,207 4.52%
    >60% 1 $155,000 $155,000 $3,642 3.38%

    Y-12 Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 132 originations. The next most common DTI ratio? 30-36%, with 99 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 483 $83,495,000 $172,867 $3,499 4.52%
    Not applicable 8 $3,840,000 $480,000 $0 5.27%
    Not provided 13 $2,245,000 $172,692 $3,474 4.15%
    Black 10 $1,860,000 $186,000 $3,795 4.96%
    Asian 2 $290,000 $145,000 $3,593 5.50%
    American Indian 1 $185,000 $185,000 $3,571 4.63%

    Approval Rates

    Total approvals of all applications
    85.27%

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

    Pick Rate

    Approvals leading to origination
    78.14%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 517 $91,915,000 $177,785

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $3,275,000 $655,000
    Single Family (1-4 Units):Manufactured 11 $1,015,000 $92,273
    Single Family (1-4 Units):Site-Built 501 $87,625,000 $174,900

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 18 $1,530,000 $85,000 $2,780 3.93%
    40-60% 47 $5,525,000 $117,553 $3,154 4.18%
    60-80% 153 $28,825,000 $188,399 $3,560 4.44%
    80-100% 295 $55,755,000 $189,000 $3,583 4.69%
    Under 20% 4 $280,000 $70,000 $2,821 3.66%