Y-12 Federal Credit Union Mortgage Rates, Fees & Info
Oak Ridge, TNLEI: 5493004NO7XCFVG4KD53
Tax ID: 62-0473619
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Mortgage Data
Review & Overview
Y-12 Federal Credit Union is a smaller credit union specializing in Refi, Home Purchase, and Cash Out 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, Nashville, Morristown, and Crossville among others. We have data for 15 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 12/16/24 |
| 30 Year Conventional Purchase | 7.09% | 12/16/24 |
| 30 Year Conventional Refi | 6.91% | 12/16/24 |
| 30 Year Cash-out Refi | 7.16% | 12/16/24 |
| 30 Year USDA Purchase | 7.82% | 12/16/24 |
| 15 Year Conventional Purchase | 5.77% | 12/16/24 |
| 15 Year Conventional Refi | 5.86% | 12/16/24 |
| 15 Year Cash-out Refi | 5.86% | 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. | ||
Y-12 Federal Credit Union Mortgage Calculator
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This is not an official calculator from Y-12 Federal Credit Union. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,182Origination Dollar Volume (All Markets)
$263,550,000Awards
Y-12 Federal Credit Union - 2020
Y-12 Federal Credit Union 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) | 1,061 | $231,985,000 | $218,648 | $3,244 | 3.24% |
| Sevierville, TN (FHA|USDA|VA) | 48 | $12,550,000 | $261,458 | $3,426 | 3.31% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 6 | $4,730,000 | $788,333 | $5,246 | 3.38% |
| Outside of Metro Areas | 23 | $4,365,000 | $189,783 | $3,566 | 3.36% |
| MORRISTOWN, TN (FHA|USDA|VA) | 9 | $2,485,000 | $276,111 | $2,636 | 3.47% |
| Crossville, TN (FHA|USDA|VA) | 10 | $1,940,000 | $194,000 | $3,215 | 3.12% |
| CLEVELAND, TN (FHA|USDA|VA) | 3 | $1,165,000 | $388,333 | $5,056 | 3.29% |
| JOHNSON CITY, TN (FHA|USDA|VA) | 5 | $1,065,000 | $213,000 | $3,163 | 3.37% |
| Newport, TN (FHA|USDA|VA) | 5 | $725,000 | $145,000 | $3,068 | 3.35% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $3,801 | 3.25% |
| Athens, TN (FHA|USDA|VA) | 4 | $650,000 | $162,500 | $3,113 | 3.63% |
| Dayton, TN (FHA|USDA|VA) | 3 | $515,000 | $171,667 | $3,240 | 3.46% |
| Cookeville, TN (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $5,205 | 3.13% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,754 | 4.38% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $4,499 | 3.63% |
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 | 1,170 | $261,740,000 | $223,709 | $3,251 | 3.25% |
| USDA | 12 | $1,810,000 | $150,833 | $4,929 | 3.29% |
For 2020, Y-12 Federal Credit Union's most frequently originated type of loan was Conventional, with 1,170 originations. Their 2nd most popular type was USDA, with 12 originations.
Loan Reason
For 2020, Y-12 Federal Credit Union's most frequently cited loan purpose was Refi, with 444 originations. The 2nd most popular reason was Home Purchase, with 428 originations.
Loan Duration/Length
For 2020, Y-12 Federal Credit Union's most frequently cited loan duration was 30 Year, with 680 originations. The 2nd most popular length was 15 Year, with 186 originations.
Origination Fees/Closing Costs
Y-12 Federal Credit Union's average total fees were $3,663, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 442 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 576 | $142,470,000 | $247,344 |
| 2.5-3% | 443 | $90,855,000 | $205,090 |
| 4-5% | 82 | $15,900,000 | $193,902 |
| <2.5% | 71 | $12,505,000 | $176,127 |
| 5-6% | 10 | $1,820,000 | $182,000 |
During 2020, Y-12 Federal Credit Union's average interest rate for loans was 3.41%, while their most frequently originated rate bucket for loans was 3-4%, with 576 originations.
Loan Sizing
2020 saw Y-12 Federal Credit Union place emphasis on $100k-200k loans with 533 originations, totaling $79,315,000 in origination value.
Applicant Income
Y-12 Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 302 originations. The second most popular income band? $50k-75k, with 238 originations.
Applicant Debt to Income Ratio
Y-12 Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 330 originations. The next most common DTI ratio? 30-36%, with 199 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications88.38%
Y-12 Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination78.43%
Y-12 Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,182 | $263,550,000 | $222,970 |