Knoxville Tva Employees Credit Union Mortgage Rates, Fees & Info
Knoxville, TNLEI: 54930074H8866HTIWU69
Tax ID: 62-0263105
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
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 include Knoxville, Morristown, Sevierville, Kingsport, and Johnson City among others. Knoxville Tva Employees Credit Union has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Knoxville Tva Employees Credit Union is typically an average fee lendor.Originations
1,419Origination Dollar Volume (All Markets)
$248,445,000Awards
KNOXVILLE TVA EMPLOYEES CREDIT UNION - 2021
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For 2021, less than of lenders were eligible for this award.
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Relative Rate
Knoxville Tva Employees Credit Union's average 30 year fixed rate mortgage of loans were
3.1%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.05%.
Relative Fees
Knoxville Tva Employees Credit Union's average total fees for a 30 year fixed rate
mortgage are $4,471.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| KNOXVILLE, TN (FHA|USDA|VA) | 812 | $147,740,000 | $181,946 | $4,184 | 2.87% |
| MORRISTOWN, TN (FHA|USDA|VA) | 324 | $49,860,000 | $153,889 | $3,838 | 2.81% |
| Sevierville, TN (FHA|USDA|VA) | 115 | $23,395,000 | $203,435 | $4,283 | 2.81% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 56 | $8,190,000 | $146,250 | $3,741 | 2.74% |
| JOHNSON CITY, TN (FHA|USDA|VA) | 28 | $5,250,000 | $187,500 | $4,348 | 2.84% |
| Newport, TN (FHA|USDA|VA) | 25 | $4,175,000 | $167,000 | $4,012 | 2.96% |
| Outside of Metro Areas | 30 | $4,010,000 | $133,667 | $3,774 | 2.79% |
| Greeneville, TN (FHA|USDA|VA) | 8 | $1,430,000 | $178,750 | $4,204 | 2.83% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 4 | $1,340,000 | $335,000 | $4,453 | 3.69% |
| Crossville, TN (FHA|USDA|VA) | 6 | $830,000 | $138,333 | $3,928 | 2.85% |
| NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) | 4 | $820,000 | $205,000 | $4,576 | 2.38% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $7,633 | 2.75% |
| Dayton, TN (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $4,645 | 2.63% |
| CLEVELAND, TN (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,775 | 2.88% |
| Athens, TN (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $3,661 | 2.94% |
| Cookeville, TN (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,344 | 3.00% |
Knoxville Tva Employees Credit Union's top markets include Knoxville, Morristown, Sevierville, Kingsport, and Johnson City among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 1,419 | $248,445,000 | $175,085 | $4,090 | 2.84% |
For the 2021 period, Knoxville Tva Employees Credit Union's most frequently originated loan type of loans were Conventional, with 1,419 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 782 | $138,450,000 | $177,046 | $4,073 | 2.79% |
| Home Purchase | 285 | $55,825,000 | $195,877 | $4,705 | 3.15% |
| Refi | 249 | $41,075,000 | $164,960 | $3,762 | 2.64% |
| Home Improvement | 84 | $11,350,000 | $135,119 | $3,466 | 2.94% |
| Other | 19 | $1,745,000 | $91,842 | $2,757 | 2.75% |
For the 2021, Knoxville Tva Employees Credit Union's most frequently cited loan purpose of loans were Cash Out Refi, with 782 originations. The 2nd most popular reason of loans were Home Purchase, with 285 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 766 | $152,310,000 | $198,838 | $4,471 | 3.10% |
| 15 Year | 405 | $59,945,000 | $148,012 | $3,724 | 2.44% |
| 20 Year | 140 | $20,600,000 | $147,143 | $3,743 | 2.92% |
| 10 Year | 100 | $14,260,000 | $142,600 | $3,135 | 2.33% |
| Other | 6 | $1,140,000 | $190,000 | $3,373 | 3.34% |
| 5 Year | 2 | $190,000 | $95,000 | $2,535 | 3.06% |
For the 2021, Knoxville Tva Employees Credit Union's most frequently cited loan length of loans were 30 Year, with 766 originations. The 2nd most popular length of loans were 15 Year, with 405 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 620 | $68,500,000 | $110,484 |
| $2k-3k | 510 | $99,810,000 | $195,706 |
| $3k-4k | 184 | $56,850,000 | $308,967 |
| $<1k | 74 | $6,520,000 | $88,108 |
| $5k+ | 22 | $11,850,000 | $538,636 |
$4,471 of loans were Knoxville Tva Employees Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 620 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 519 | $96,615,000 | $186,156 |
| <2.5% | 445 | $65,675,000 | $147,584 |
| 3-4% | 434 | $84,660,000 | $195,069 |
| 4-5% | 15 | $1,135,000 | $75,667 |
| 5-6% | 4 | $260,000 | $65,000 |
| 6-7% | 2 | $100,000 | $50,000 |
During 2021, Knoxville Tva Employees Credit Union's average interest rate of loans were 3.10%, while their most frequently originated rate bucket of loans were 2.5-3%, with 519 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-200k | 698 | $103,380,000 | $148,109 | $3,797 | 2.82% |
| $200k-400k | 393 | $101,365,000 | $257,926 | $5,200 | 2.88% |
| $100,000 or less | 286 | $20,270,000 | $70,874 | $2,744 | 2.82% |
| $400k-600k | 37 | $17,485,000 | $472,568 | $7,809 | 2.94% |
| $1MM+ | 3 | $4,705,000 | $1,568,333 | $14,073 | 3.54% |
| $600k-1MM | 2 | $1,240,000 | $620,000 | $6,988 | 3.50% |
2021 saw Knoxville Tva Employees Credit Union place emphasis on $100k-200k loans with 698 originations, totaling $103,380,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k-75k | 391 | $62,895,000 | $160,857 | $3,956 | 2.91% |
| $50k or less | 352 | $40,630,000 | $115,426 | $3,430 | 2.87% |
| $75k-100k | 274 | $49,250,000 | $179,745 | $4,172 | 2.82% |
| $100k-150k | 259 | $53,355,000 | $206,004 | $4,521 | 2.71% |
| $150k-250k | 84 | $23,210,000 | $276,310 | $5,382 | 2.73% |
| $250k+ | 16 | $6,940,000 | $433,750 | $6,991 | 2.52% |
Knoxville Tva Employees Credit Union lent most frequently to those with incomes in the $50k-75k range, with 391 originations. The second most popular income band? $50k or less, with 352 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 410 | $67,140,000 | $163,756 | $4,010 | 2.76% |
| 30-36% | 296 | $55,470,000 | $187,399 | $4,287 | 2.87% |
| <20% | 173 | $25,655,000 | $148,295 | $3,780 | 2.60% |
| 42% | 75 | $13,555,000 | $180,733 | $4,169 | 2.98% |
| 41% | 65 | $12,045,000 | $185,308 | $4,233 | 2.96% |
| 36% | 63 | $10,405,000 | $165,159 | $4,041 | 2.88% |
| 40% | 60 | $10,730,000 | $178,833 | $4,183 | 2.95% |
| 37% | 55 | $9,955,000 | $181,000 | $4,124 | 2.90% |
| 39% | 53 | $9,805,000 | $185,000 | $4,204 | 2.94% |
| 38% | 53 | $9,485,000 | $178,962 | $4,155 | 2.91% |
| 43% | 36 | $6,330,000 | $175,833 | $4,110 | 2.93% |
| 44% | 19 | $3,235,000 | $170,263 | $4,161 | 2.88% |
| 45% | 9 | $1,395,000 | $155,000 | $3,946 | 3.50% |
| 46% | 9 | $1,815,000 | $201,667 | $4,535 | 2.63% |
| 47% | 8 | $1,800,000 | $225,000 | $4,811 | 3.31% |
| 50-60% | 7 | $1,385,000 | $197,857 | $4,184 | 2.80% |
| >60% | 6 | $1,060,000 | $176,667 | $4,207 | 2.92% |
| 48% | 1 | $155,000 | $155,000 | $3,849 | 3.13% |
Knoxville Tva Employees Credit Union lent most frequently to those with DTI ratios of 20-30%, with 410 originations. The next most common DTI ratio? 30-36%, with 296 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 1,342 | $231,810,000 | $172,735 | $4,084 | 2.84% |
| Black | 38 | $6,130,000 | $161,316 | $4,048 | 2.88% |
| Not provided | 25 | $4,825,000 | $193,000 | $4,477 | 2.69% |
| Not applicable | 5 | $4,045,000 | $809,000 | $0 | 3.86% |
| Asian | 5 | $915,000 | $183,000 | $4,058 | 2.98% |
| American Indian | 4 | $720,000 | $180,000 | $4,063 | 3.00% |
Approval Rates
Total approvals of all applications94.05%
Knoxville Tva Employees Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination76.56%
Knoxville Tva Employees Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,419 | $248,445,000 | $175,085 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1,419 | $248,445,000 | $175,085 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 146 | $13,670,000 | $93,630 | $2,922 | 2.66% |
| 40-60% | 325 | $48,265,000 | $148,508 | $3,779 | 2.59% |
| 60-80% | 530 | $103,270,000 | $194,849 | $4,276 | 2.80% |
| 80-100% | 390 | $81,970,000 | $210,179 | $4,677 | 3.15% |
| Under 20% | 28 | $1,270,000 | $45,357 | $2,103 | 3.09% |
