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 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 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% 4/28/24
    30 Year Conventional Purchase 7.09% 4/28/24
    30 Year Conventional Refi 6.91% 4/28/24
    30 Year Cash-out Refi 7.16% 4/28/24
    30 Year USDA Purchase 7.82% 4/28/24
    15 Year Conventional Purchase 5.77% 4/28/24
    15 Year Conventional Refi 5.86% 4/28/24
    15 Year Cash-out Refi 5.86% 4/28/24
    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

    1,408

    Origination Dollar Volume (All Markets)

    $237,380,000

    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) 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%
    Y-12 Federal Credit Union's top markets include Knoxville, Sevierville, Morristown, Crossville, and Chattanooga 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.

    CONSUMER Credit Union
    Similarity Rank: 224
    ENRICHMENT
    Similarity Rank: 896
    Home Federal Bank of Tennessee
    Similarity Rank: 963
    U. T.
    Similarity Rank: 1485
    Strong Home Mortgage, LLC
    Similarity Rank: 1536
    Y-12 Federal Credit Union
    Similarity Rank: 2408
    KNOXVILLE TVA EMPLOYEES CREDIT UNION
    Similarity Rank: 2560
    ORNL Federal Credit Union
    Similarity Rank: 2816
    LENDERFI, INC.
    Similarity Rank: 2907
    SmartBank
    Similarity Rank: 4070

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 401 $72,675,000 $181,234 $2,530 2.77%
    Home Purchase 318 $90,840,000 $285,660 $4,334 3.47%
    Home Improvement 297 $17,745,000 $59,747 $2,103 2.08%
    Refi 267 $49,105,000 $183,914 $2,379 2.79%
    Other 125 $7,015,000 $56,120 $2,338 2.06%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 581 $45,835,000 $78,890 $2,401 2.15%
    30 Year 446 $106,900,000 $239,686 $3,578 3.36%
    15 Year 257 $45,885,000 $178,541 $2,326 2.86%
    10 Year 77 $17,765,000 $230,714 $2,037 2.86%
    Other 27 $4,125,000 $152,778 $2,269 2.59%
    5 Year 13 $14,325,000 $1,101,923 $1,976 3.38%
    30+ year 7 $2,545,000 $363,571 $6,194 3.34%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 407 $78,105,000 $191,904
    $1k-2k 235 $34,265,000 $145,809
    $2k-3k 125 $38,005,000 $304,040
    $3k-4k 27 $13,475,000 $499,074
    $4k-5k 4 $2,830,000 $707,500
    $5k+ 2 $1,860,000 $930,000

    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

    Loan Rate Originations Total Value Average Loan
    <2.5% 702 $66,910,000 $95,313
    3-4% 329 $84,495,000 $256,824
    2.5-3% 302 $73,770,000 $244,272
    4-5% 68 $11,740,000 $172,647
    5-6% 5 $365,000 $73,000
    6-7% 2 $100,000 $50,000

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 539 $28,685,000 $53,219 $2,411 2.27%
    $100k-200k 473 $69,085,000 $146,057 $2,600 2.88%
    $200k-400k 314 $84,990,000 $270,669 $3,286 3.15%
    $400k-600k 67 $30,875,000 $460,821 $4,908 3.21%
    $600k-1MM 11 $8,205,000 $745,909 $8,218 3.23%
    $1MM+ 4 $15,540,000 $3,885,000 $5,104 3.35%

    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

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 313 $53,175,000 $169,888 $3,027 2.63%
    $75k-100k 287 $43,175,000 $150,436 $3,124 2.75%
    $50k-75k 285 $37,365,000 $131,105 $2,898 2.75%
    $50k or less 222 $23,410,000 $105,450 $2,829 2.76%
    $150k-250k 175 $35,525,000 $203,000 $3,446 2.55%
    $250k+ 57 $14,615,000 $256,404 $4,329 2.53%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 368 $53,630,000 $145,734 $2,886 2.63%
    30-36% 254 $40,360,000 $158,898 $3,232 2.76%
    <20% 215 $29,815,000 $138,674 $2,644 2.53%
    44% 46 $6,080,000 $132,174 $2,943 2.74%
    42% 43 $7,425,000 $172,674 $3,056 2.94%
    36% 43 $6,195,000 $144,070 $3,039 2.59%
    37% 41 $5,855,000 $142,805 $2,845 2.65%
    39% 40 $7,630,000 $190,750 $3,215 2.74%
    40% 37 $8,135,000 $219,865 $3,724 2.89%
    38% 37 $5,075,000 $137,162 $2,745 2.69%
    41% 36 $7,450,000 $206,944 $3,614 2.93%
    50-60% 32 $5,040,000 $157,500 $3,872 2.31%
    43% 30 $5,550,000 $185,000 $2,871 2.64%
    47% 24 $4,170,000 $173,750 $3,790 2.68%
    46% 23 $3,835,000 $166,739 $3,557 2.61%
    45% 22 $3,110,000 $141,364 $2,817 2.66%
    49% 18 $2,050,000 $113,889 $4,315 2.41%
    48% 18 $2,280,000 $126,667 $3,199 2.28%
    >60% 2 $100,000 $50,000 $0 1.99%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,209 $187,385,000 $154,992 $3,047 2.71%
    Not applicable 45 $25,895,000 $575,444 $0 3.76%
    Not provided 110 $15,680,000 $142,545 $2,697 2.39%
    Black 29 $5,465,000 $188,448 $3,106 2.97%
    Asian 9 $2,185,000 $242,778 $4,104 2.76%
    American Indian 5 $655,000 $131,000 $2,593 2.50%
    Native Hawaiian or Islander 1 $115,000 $115,000 $0 4.40%

    Approval Rates

    Total approvals of all applications
    84.33%

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

    Pick Rate

    Approvals leading to origination
    85.51%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,408 $237,380,000 $168,594

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 248 $22,940,000 $92,500 $2,278 2.21%
    40-60% 217 $36,805,000 $169,608 $2,348 2.71%
    60-80% 392 $99,770,000 $254,515 $2,773 3.06%
    80-100% 244 $64,110,000 $262,746 $4,179 3.56%
    Under 20% 306 $13,580,000 $44,379 $1,730 2.06%