Knoxville Tva Employees Credit Union Mortgage Rates, Fees & Info

Knoxville, TN

LEI: 54930074H8866HTIWU69

Tax ID: 62-0263105

5 stars - Updated: 9/25/23 - out of 5 stars, based on 43 reviews

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Knoxville Tva Employees Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Knoxville Tva Employees Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Knoxville, Morristown, Sevierville, Kingsport, and Johnson City among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Knoxville Tva Employees Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Knoxville Tva Employees 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 7.32% 9/25/23
    30 Year Conventional Purchase 6.45% 9/25/23
    30 Year Conventional Refi 6.35% 9/25/23
    30 Year Cash-out Refi 6.41% 9/25/23
    30 Year FHA Purchase 6.27% 9/25/23
    30 Year VA Purchase 6.27% 9/25/23
    30 Year USDA Purchase 6.27% 9/25/23
    15 Year Conventional Purchase 5.78% 9/25/23
    15 Year Conventional Refi 5.76% 9/25/23
    15 Year Cash-out Refi 5.76% 9/25/23
    15 Year FHA Purchase 5.68% 9/25/23
    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.

    Knoxville Tva Employees Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Knoxville Tva Employees 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

    1,863

    Origination Dollar Volume (All Markets)

    $234,505,000

    Awards

    KNOXVILLE TVA EMPLOYEES CREDIT UNION 30 Year Conventional Loans silver
    Show all (1) awards

    Relative Rate

    Knoxville Tva Employees Credit Union's average 30 year fixed mortgage rate was 4.38%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of -0.38%.

    Relative Fees (Closing Costs)

    Knoxville Tva Employees Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $4,919.

    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) 1,108 $140,820,000 $127,094 $4,271 4.81%
    MORRISTOWN, TN (FHA|USDA|VA) 400 $47,220,000 $118,050 $3,981 4.63%
    Sevierville, TN (FHA|USDA|VA) 144 $18,120,000 $125,833 $4,427 4.71%
    KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 76 $8,340,000 $109,737 $3,752 4.46%
    JOHNSON CITY, TN (FHA|USDA|VA) 27 $4,785,000 $177,222 $4,939 4.25%
    Outside of Metro Areas 36 $4,420,000 $122,778 $4,091 4.84%
    Newport, TN (FHA|USDA|VA) 25 $2,735,000 $109,400 $3,494 4.62%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 11 $2,165,000 $196,818 $5,781 4.16%
    Greeneville, TN (FHA|USDA|VA) 12 $1,710,000 $142,500 $3,932 5.00%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 8 $1,500,000 $187,500 $5,456 4.53%
    Crossville, TN (FHA|USDA|VA) 5 $825,000 $165,000 $4,396 3.88%
    Athens, TN (FHA|USDA|VA) 3 $525,000 $175,000 $4,695 4.50%
    Dayton, TN (FHA|USDA|VA) 4 $480,000 $120,000 $4,192 5.50%
    CLEVELAND, TN (FHA|USDA|VA) 1 $375,000 $375,000 $7,757 4.38%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $265,000 $265,000 $6,593 3.63%
    Lewisburg, TN (FHA|USDA|VA) 1 $115,000 $115,000 $379 6.75%
    JACKSON, TN (FHA|USDA|VA) 1 $105,000 $105,000 $0 4.00%
    Knoxville Tva Employees Credit Union's top markets include Knoxville, Morristown, Sevierville, Kingsport, and Johnson City among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against KNOXVILLE TVA EMPLOYEES CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    NORTHEAST COMMUNITY
    Similarity Rank: 39
    Horizon Credit Union
    Similarity Rank: 72
    Kingsport Press Credit Union
    Similarity Rank: 198
    CONSUMER Credit Union
    Similarity Rank: 460
    New Peoples Bank, Inc.
    Similarity Rank: 720
    Community First Bank, Inc.
    Similarity Rank: 1079
    ENRICHMENT
    Similarity Rank: 1120
    Strong Home Mortgage, LLC
    Similarity Rank: 1152
    First Community Bank
    Similarity Rank: 1428
    Home Federal Bank of Tennessee
    Similarity Rank: 1440

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 966 $69,740,000 $72,195 n/a 5.25%
    Conventional 897 $164,765,000 $183,685 $4,198 4.18%

    For 2022, Knoxville Tva Employees Credit Union's most frequently originated type of loan was HELOC, with 966 originations. Their 2nd most popular type was Conventional, with 897 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 698 $99,830,000 $143,023 $3,783 4.60%
    Home Improvement 495 $39,455,000 $79,707 $3,741 5.19%
    Home Purchase 320 $65,570,000 $204,906 $5,180 4.77%
    Other 275 $18,535,000 $67,400 $2,690 4.68%
    Refi 75 $11,115,000 $148,200 $3,670 3.02%

    For 2022, Knoxville Tva Employees Credit Union's most frequently cited loan purpose was Cash Out Refi, with 698 originations. The 2nd most popular reason was Home Improvement, with 495 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 973 $71,255,000 $73,232 $580 5.35%
    30 Year 512 $109,940,000 $214,727 $4,919 4.38%
    15 Year 236 $30,760,000 $130,339 $3,780 3.68%
    20 Year 93 $15,275,000 $164,247 $4,060 3.68%
    10 Year 44 $6,420,000 $145,909 $2,939 3.07%
    5 Year 5 $855,000 $171,000 $0 4.45%

    For 2022, Knoxville Tva Employees Credit Union's most frequently cited loan duration was Other, with 973 originations. The 2nd most popular length was 30 Year, with 512 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 325 $63,505,000 $195,400
    $1k-2k 288 $30,950,000 $107,465
    $3k-4k 106 $30,210,000 $285,000
    $<1k 102 $8,750,000 $85,784
    $4k-5k 45 $17,645,000 $392,111
    $5k+ 16 $8,560,000 $535,000

    Knoxville Tva Employees Credit Union's average total fees were $4,919, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 325 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 477 $52,805,000 $110,702
    4-5% 455 $54,705,000 $120,231
    3-4% 413 $62,105,000 $150,375
    6-7% 238 $19,800,000 $83,193
    2.5-3% 150 $28,910,000 $192,733
    <2.5% 86 $13,000,000 $151,163
    7-8% 43 $3,115,000 $72,442
    Over 8% 1 $65,000 $65,000

    During 2022, Knoxville Tva Employees Credit Union's average interest rate for loans was 4.38%, while their most frequently originated rate bucket for loans was 5-6%, with 477 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 940 $50,250,000 $53,457 $2,232 5.17%
    $100k-200k 559 $79,855,000 $142,853 $3,842 4.37%
    $200k-400k 325 $83,965,000 $258,354 $5,459 4.17%
    $400k-600k 28 $12,750,000 $455,357 $7,765 4.14%
    $600k-1MM 10 $6,360,000 $636,000 $9,473 4.42%
    $1MM+ 1 $1,325,000 $1,325,000 $0 3.75%

    2022 saw Knoxville Tva Employees Credit Union place emphasis on $100,000 or less loans with 940 originations, totaling $50,250,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 464 $56,120,000 $120,948 $4,102 4.66%
    $100k-150k 420 $58,620,000 $139,571 $4,565 4.72%
    $75k-100k 360 $45,830,000 $127,306 $4,354 4.75%
    $50k or less 339 $29,245,000 $86,268 $3,559 4.65%
    $150k-250k 151 $27,175,000 $179,967 $5,041 4.62%
    $250k+ 27 $5,285,000 $195,741 $5,626 4.69%

    Knoxville Tva Employees Credit Union lent most frequently to those with incomes in the $50k-75k range, with 464 originations. The second most popular income band? $100k-150k, with 420 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 395 $50,175,000 $127,025 $4,166 4.37%
    30-36% 341 $47,905,000 $140,484 $4,355 4.46%
    <20% 155 $17,405,000 $112,290 $3,894 4.08%
    40% 88 $10,160,000 $115,455 $4,294 4.76%
    42% 84 $9,660,000 $115,000 $4,027 4.80%
    41% 83 $9,955,000 $119,940 $4,352 5.18%
    39% 71 $9,005,000 $126,831 $4,075 4.97%
    38% 68 $8,550,000 $125,735 $4,510 4.78%
    36% 66 $8,130,000 $123,182 $4,220 4.62%
    37% 56 $6,130,000 $109,464 $3,899 4.72%
    43% 52 $6,210,000 $119,423 $4,070 5.09%
    44% 31 $6,425,000 $207,258 $4,401 4.89%
    45% 26 $2,610,000 $100,385 $3,220 5.36%
    50-60% 14 $2,150,000 $153,571 $4,289 4.78%
    47% 13 $1,225,000 $94,231 $2,923 5.17%
    >60% 12 $2,580,000 $215,000 $5,193 4.51%
    46% 10 $1,180,000 $118,000 $3,050 5.23%
    49% 8 $1,080,000 $135,000 $3,469 5.03%
    48% 4 $570,000 $142,500 $1,614 6.63%

    Knoxville Tva Employees Credit Union lent most frequently to those with DTI ratios of 20-30%, with 395 originations. The next most common DTI ratio? 30-36%, with 341 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,752 $216,340,000 $123,482 $4,173 4.74%
    Black 43 $6,015,000 $139,884 $4,261 4.97%
    Not provided 41 $5,595,000 $136,463 $5,023 4.68%
    Not applicable 5 $3,555,000 $711,000 $0 3.91%
    Asian 12 $1,870,000 $155,833 $4,841 4.15%
    American Indian 5 $585,000 $117,000 $3,546 4.40%
    Asian Indian 1 $295,000 $295,000 $6,585 4.38%
    Vietnamese 1 $125,000 $125,000 $0 4.00%
    Native Hawaiian or Islander 2 $80,000 $40,000 $2,603 3.56%
    Other Asian 1 $45,000 $45,000 $0 5.00%

    Approval Rates

    Total approvals of all applications
    96.41%

    Knoxville Tva Employees Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    82.07%

    Knoxville Tva Employees Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,863 $234,505,000 $125,875

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,863 $234,505,000 $125,875

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 474 $42,750,000 $90,190 $2,852 4.94%
    40-60% 283 $41,075,000 $145,141 $3,908 4.00%
    60-80% 314 $67,940,000 $216,369 $4,906 4.08%
    80-100% 226 $53,300,000 $235,841 $5,202 4.59%
    Under 20% 566 $29,440,000 $52,014 $1,340 5.35%