Knoxville Tva Employees Credit Union Mortgage Rates, Fees & Info
Knoxville, TNLEI: 54930074H8866HTIWU69
Tax ID: 62-0263105
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Mortgage Data
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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
---|---|---|
Home Equity Line of Credit (HELOC) | 7.32% | 11/3/24 |
30 Year Conventional Purchase | 6.45% | 11/3/24 |
30 Year Conventional Refi | 6.35% | 11/3/24 |
30 Year Cash-out Refi | 6.41% | 11/3/24 |
30 Year FHA Purchase | 6.27% | 11/3/24 |
30 Year VA Purchase | 6.27% | 11/3/24 |
30 Year USDA Purchase | 6.27% | 11/3/24 |
15 Year Conventional Purchase | 5.78% | 11/3/24 |
15 Year Conventional Refi | 5.76% | 11/3/24 |
15 Year Cash-out Refi | 5.76% | 11/3/24 |
15 Year FHA Purchase | 5.68% | 11/3/24 |
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
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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
1,340Origination Dollar Volume (All Markets)
$139,190,000KNOXVILLE TVA EMPLOYEES CREDIT UNION - 2023
KNOXVILLE TVA EMPLOYEES CREDIT UNION is a 2023 , due to their low .
For 2023, 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 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% |
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.
Similarity Rank: 68
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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
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
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
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
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
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
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
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
Approval Rates
Total approvals of all applications93.25%
Knoxville Tva Employees Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination82.31%
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 |