Knoxville Tva Employees Credit Union Mortgage Rates, Fees & Info

Knoxville, TN

LEI: 54930074H8866HTIWU69

Tax ID: 62-0263105

5 stars - Updated: 11/17/24 - out of 5 stars, based on 37 reviews

Latest/2023 | 2022 Data | 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 16 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 relatively high 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) 7.32% 11/17/24
    30 Year Conventional Purchase 6.45% 11/17/24
    30 Year Conventional Refi 6.35% 11/17/24
    30 Year Cash-out Refi 6.41% 11/17/24
    30 Year FHA Purchase 6.27% 11/17/24
    30 Year VA Purchase 6.27% 11/17/24
    30 Year USDA Purchase 6.27% 11/17/24
    15 Year Conventional Purchase 5.78% 11/17/24
    15 Year Conventional Refi 5.76% 11/17/24
    15 Year Cash-out Refi 5.76% 11/17/24
    15 Year FHA Purchase 5.68% 11/17/24
    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.

    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

    1,340

    Origination Dollar Volume (All Markets)

    $139,190,000

    Awards

    KNOXVILLE TVA EMPLOYEES CREDIT UNION 30 Year Conventional Loans silver KNOXVILLE TVA EMPLOYEES CREDIT UNION 30 Year Conventional Loans gold
    Show all (2) awards

    Relative Rate

    Knoxville Tva Employees Credit Union's average 30 year fixed mortgage rate was 6.61%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of 0.13%.

    Relative Fees (Closing Costs)

    Knoxville Tva Employees Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $5,705.

    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 $9,089.

    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) 829 $87,565,000 $105,627 $4,876 8.17%
    MORRISTOWN, TN (FHA|USDA|VA) 236 $21,840,000 $92,542 $4,360 8.16%
    Sevierville, TN (FHA|USDA|VA) 105 $12,475,000 $118,810 $5,152 8.01%
    KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 60 $5,010,000 $83,500 $4,321 8.41%
    JOHNSON CITY, TN (FHA|USDA|VA) 27 $3,555,000 $131,667 $5,332 7.73%
    Outside of Metro Areas 31 $2,965,000 $95,645 $4,803 8.20%
    Newport, TN (FHA|USDA|VA) 21 $1,825,000 $86,905 $5,771 8.46%
    Crossville, TN (FHA|USDA|VA) 6 $970,000 $161,667 $5,916 7.85%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 5 $575,000 $115,000 $5,034 7.68%
    Athens, TN (FHA|USDA|VA) 5 $555,000 $111,000 $4,679 8.40%
    Greeneville, TN (FHA|USDA|VA) 6 $480,000 $80,000 $0 9.58%
    Dayton, TN (FHA|USDA|VA) 4 $460,000 $115,000 $3,767 6.88%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $315,000 $315,000 $7,070 6.63%
    McMinnville, TN (FHA|USDA|VA) 1 $245,000 $245,000 $6,000 6.13%
    CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $215,000 $215,000 $5,866 7.00%
    CLEVELAND, TN (FHA|USDA|VA) 2 $140,000 $70,000 $3,475 8.13%
    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)
  • Virginia (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.

    SouthEast Bank
    Similarity Rank: 68
    NORTHEAST COMMUNITY
    Similarity Rank: 69
    CONSUMER Credit Union
    Similarity Rank: 96
    New Peoples Bank, Inc.
    Similarity Rank: 216
    ENRICHMENT
    Similarity Rank: 230
    Home Federal Bank of Tennessee
    Similarity Rank: 282
    ORNL Federal Credit Union
    Similarity Rank: 612
    Countybank
    Similarity Rank: 648
    Community Trust Bank, Inc.
    Similarity Rank: 648
    Y-12 Federal Credit Union
    Similarity Rank: 784

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 1,006 $75,750,000 $75,298 n/a 8.63%
    Conventional 334 $63,440,000 $189,940 $4,795 6.73%

    For 2023, Knoxville Tva Employees Credit Union's most frequently originated type of loan was HELOC, with 1,006 originations. Their 2nd most popular type was Conventional, with 334 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 1,163 $96,965,000 $83,375 $3,722 8.41%
    Home Purchase 173 $41,185,000 $238,064 $5,709 6.56%
    Other 2 $200,000 $100,000 $0 3.00%
    Refi 2 $840,000 $420,000 $12,979 6.88%

    For 2023, Knoxville Tva Employees Credit Union's most frequently cited loan purpose was Cash Out Refi, with 1,163 originations. The 2nd most popular reason was Home Purchase, with 173 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 998 $75,330,000 $75,481 $0 8.62%
    30 Year 194 $46,810,000 $241,289 $5,705 6.61%
    20 Year 82 $8,930,000 $108,902 $3,215 7.43%
    15 Year 40 $4,840,000 $121,000 $3,927 6.44%
    10 Year 18 $1,500,000 $83,333 $2,638 7.05%
    5 Year 8 $1,780,000 $222,500 $0 6.51%

    For 2023, Knoxville Tva Employees Credit Union's most frequently cited loan duration was Other, with 998 originations. The 2nd most popular length was 30 Year, with 194 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 97 $14,675,000 $151,289
    $1k-2k 84 $5,520,000 $65,714
    $3k-4k 77 $19,455,000 $252,662
    $4k-5k 32 $11,360,000 $355,000
    $<1k 16 $3,620,000 $226,250
    $5k+ 13 $6,475,000 $498,077

    Knoxville Tva Employees Credit Union's average total fees were $5,705, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 97 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 611 $43,375,000 $70,990
    7-8% 470 $45,110,000 $95,979
    6-7% 180 $34,970,000 $194,278
    5-6% 70 $14,070,000 $201,000
    4-5% 7 $1,465,000 $209,286
    2.5-3% 1 $35,000 $35,000
    3-4% 1 $165,000 $165,000

    During 2023, Knoxville Tva Employees Credit Union's average interest rate for loans was 6.61%, while their most frequently originated rate bucket for loans was Over 8%, with 611 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 840 $44,490,000 $52,964 $2,619 8.56%
    $100k-200k 319 $42,325,000 $132,680 $4,227 7.80%
    $200k-400k 160 $42,380,000 $264,875 $6,230 6.98%
    $400k-600k 18 $8,010,000 $445,000 $7,942 6.42%
    $600k-1MM 3 $1,985,000 $661,667 $11,976 6.83%

    2023 saw Knoxville Tva Employees Credit Union place emphasis on $100,000 or less loans with 840 originations, totaling $44,490,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 345 $28,355,000 $82,188 $4,147 8.24%
    $100k-150k 304 $36,980,000 $121,645 $5,356 8.09%
    $75k-100k 296 $30,750,000 $103,885 $5,075 8.18%
    $50k or less 205 $13,725,000 $66,951 $3,762 8.23%
    $150k-250k 144 $21,490,000 $149,236 $6,782 8.13%
    $250k+ 20 $3,820,000 $191,000 $5,192 8.03%

    Knoxville Tva Employees Credit Union lent most frequently to those with incomes in the $50k-75k range, with 345 originations. The second most popular income band? $100k-150k, with 304 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 228 $22,610,000 $99,167 $4,678 7.92%
    30-36% 223 $25,215,000 $113,072 $5,062 8.02%
    44% 85 $7,875,000 $92,647 $5,200 8.40%
    42% 77 $7,595,000 $98,636 $4,822 8.29%
    <20% 69 $6,165,000 $89,348 $3,967 7.78%
    43% 65 $7,275,000 $111,923 $4,559 8.36%
    40% 65 $7,225,000 $111,154 $5,236 8.30%
    39% 61 $5,885,000 $96,475 $4,226 8.40%
    38% 57 $6,805,000 $119,386 $4,990 8.08%
    45% 57 $5,885,000 $103,246 $5,136 8.64%
    46% 57 $6,575,000 $115,351 $5,273 8.43%
    41% 50 $4,140,000 $82,800 $4,508 8.23%
    50-60% 50 $4,050,000 $81,000 $3,531 8.41%
    36% 42 $5,100,000 $121,429 $5,387 7.98%
    47% 39 $3,725,000 $95,513 $3,592 8.47%
    37% 35 $2,995,000 $85,571 $4,921 8.13%
    48% 33 $3,515,000 $106,515 $4,630 8.21%
    49% 25 $2,445,000 $97,800 $5,462 8.49%
    >60% 12 $2,130,000 $177,500 $5,837 8.06%

    Knoxville Tva Employees Credit Union lent most frequently to those with DTI ratios of 20-30%, with 228 originations. The next most common DTI ratio? 30-36%, with 223 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,253 $130,505,000 $104,154 $4,804 8.15%
    Black 39 $2,525,000 $64,744 $3,246 8.73%
    Not provided 20 $1,740,000 $87,000 $4,808 8.19%
    Not applicable 7 $1,695,000 $242,143 $0 6.44%
    Asian 8 $1,170,000 $146,250 $7,270 8.08%
    American Indian 10 $1,150,000 $115,000 $5,917 8.05%
    Native Hawaiian or Islander 3 $405,000 $135,000 $0 9.58%

    Approval Rates

    Total approvals of all applications
    93.25%

    Knoxville Tva Employees Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.31%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,340 $139,190,000 $103,873

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,340 $139,190,000 $103,873

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 440 $41,970,000 $95,386 $3,410 8.37%
    40-60% 139 $20,175,000 $145,144 $4,634 7.63%
    60-80% 106 $24,050,000 $226,887 $5,808 6.91%
    80-100% 98 $24,080,000 $245,714 $5,891 6.71%
    Under 20% 557 $28,915,000 $51,912 $2,171 8.62%