Knoxville Tva Employees Credit Union Mortgage Rates, Fees & Info

Knoxville, TN

LEI: 54930074H8866HTIWU69

Tax ID: 62-0263105

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

    Knoxville Tva Employees Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi 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 Tullahoma 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 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 7.32% 4/18/24
    30 Year Conventional Purchase 6.45% 4/18/24
    30 Year Conventional Refi 6.35% 4/18/24
    30 Year Cash-out Refi 6.41% 4/18/24
    30 Year FHA Purchase 6.27% 4/18/24
    30 Year VA Purchase 6.27% 4/18/24
    30 Year USDA Purchase 6.27% 4/18/24
    15 Year Conventional Purchase 5.78% 4/18/24
    15 Year Conventional Refi 5.76% 4/18/24
    15 Year Cash-out Refi 5.76% 4/18/24
    15 Year FHA Purchase 5.68% 4/18/24
    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

    660

    Origination Dollar Volume (All Markets)

    $99,870,000

    Awards

    KNOXVILLE TVA EMPLOYEES CREDIT UNION 30 Year Conventional Loans gold KNOXVILLE TVA EMPLOYEES CREDIT UNION 30 Year Conventional Loans silver KNOXVILLE TVA EMPLOYEES CREDIT UNION 30 Year Conventional Loans silver KNOXVILLE TVA EMPLOYEES CREDIT UNION 30 Year Conventional Loans gold
    Show all (4) 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) 366 $59,390,000 $162,268 $3,771 4.14%
    MORRISTOWN, TN (FHA|USDA|VA) 149 $19,115,000 $128,289 $3,310 4.04%
    Sevierville, TN (FHA|USDA|VA) 47 $7,055,000 $150,106 $3,709 4.05%
    KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 31 $3,735,000 $120,484 $3,314 3.94%
    Tullahoma-Manchester, TN (FHA|USDA|VA) 1 $2,305,000 $2,305,000 $0 4.60%
    Outside of Metro Areas 14 $1,830,000 $130,714 $3,584 3.88%
    JOHNSON CITY, TN (FHA|USDA|VA) 12 $1,610,000 $134,167 $3,482 4.22%
    Greeneville, TN (FHA|USDA|VA) 10 $1,120,000 $112,000 $3,227 4.01%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 4 $1,000,000 $250,000 $5,215 3.97%
    Newport, TN (FHA|USDA|VA) 10 $850,000 $85,000 $2,784 4.01%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 3 $555,000 $185,000 $3,731 4.21%
    Crossville, TN (FHA|USDA|VA) 4 $340,000 $85,000 $2,959 3.97%
    JACKSON, TN (FHA|USDA|VA) 1 $305,000 $305,000 $5,617 4.00%
    Dayton, TN (FHA|USDA|VA) 2 $280,000 $140,000 $3,835 4.69%
    Athens, TN (FHA|USDA|VA) 4 $250,000 $62,500 $2,122 3.78%
    Paris, TN (FHA|USDA|VA) 1 $75,000 $75,000 $2,886 4.00%
    CLEVELAND, TN (FHA|USDA|VA) 1 $55,000 $55,000 $1,376 4.75%
    Knoxville Tva Employees Credit Union's top markets include Knoxville, Morristown, Sevierville, Kingsport, and Tullahoma 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.

    Kingsport Press Credit Union
    Similarity Rank: 10
    CONSUMER Credit Union
    Similarity Rank: 16
    New Peoples Bank, Inc.
    Similarity Rank: 182
    CU COMMUNITY, LLC
    Similarity Rank: 192
    Highlands Union Bank
    Similarity Rank: 252
    Home Federal Bank of Tennessee
    Similarity Rank: 376
    SmartBank
    Similarity Rank: 589
    Y-12 Federal Credit Union
    Similarity Rank: 840
    U. T.
    Similarity Rank: 910
    Appalachian Community Federal Credit Union
    Similarity Rank: 1023

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 660 $99,870,000 $151,318 $3,598 4.09%

    For 2018, Knoxville Tva Employees Credit Union's most frequently originated type of loan was Conventional, with 660 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 302 $48,190,000 $159,570 $3,860 4.29%
    Cash Out Refi 280 $37,910,000 $135,393 $3,429 3.92%
    Refi 31 $4,315,000 $139,194 $3,536 3.58%
    Home Improvement 18 $1,630,000 $90,556 $2,873 3.90%
    Other 18 $1,480,000 $82,222 $2,661 4.35%
    NA 11 $6,345,000 $576,818 $0 4.50%

    For 2018, Knoxville Tva Employees Credit Union's most frequently cited loan purpose was Home Purchase, with 302 originations. The 2nd most popular reason was Cash Out Refi, with 280 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 299 $50,185,000 $167,843 $3,932 4.53%
    15 Year 178 $22,090,000 $124,101 $3,357 3.55%
    20 Year 124 $16,710,000 $134,758 $3,396 4.06%
    10 Year 47 $6,625,000 $140,957 $2,906 3.35%
    Other 7 $2,305,000 $329,286 $4,902 4.37%
    5 Year 5 $1,955,000 $391,000 $1,476 4.55%

    For 2018, Knoxville Tva Employees Credit Union's most frequently cited loan duration was 30 Year, with 299 originations. The 2nd most popular length was 15 Year, with 178 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 361 $38,215,000 $105,859
    $2k-3k 185 $35,865,000 $193,865
    $<1k 52 $3,020,000 $58,077
    $3k-4k 37 $10,795,000 $291,757
    $4k-5k 8 $3,030,000 $378,750
    $5k+ 5 $2,535,000 $507,000

    Knoxville Tva Employees Credit Union's average total fees were $3,932, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 361 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 295 $49,165,000 $166,661
    3-4% 282 $39,870,000 $141,383
    2.5-3% 50 $6,050,000 $121,000
    5-6% 29 $4,575,000 $157,759
    6-7% 4 $210,000 $52,500

    During 2018, Knoxville Tva Employees Credit Union's average interest rate for loans was 4.53%, while their most frequently originated rate bucket for loans was 4-5%, with 295 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 324 $46,560,000 $143,704 $3,602 4.15%
    $100,000 or less 206 $14,280,000 $69,320 $2,641 3.93%
    $200k-400k 121 $30,755,000 $254,174 $4,990 4.23%
    $400k-600k 6 $2,970,000 $495,000 $7,981 3.79%
    $1MM+ 3 $5,305,000 $1,768,333 $0 4.32%

    2018 saw Knoxville Tva Employees Credit Union place emphasis on $100k-200k loans with 324 originations, totaling $46,560,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 202 $20,050,000 $99,257 $3,049 4.07%
    $50k-75k 167 $21,855,000 $130,868 $3,436 4.13%
    $75k-100k 127 $20,245,000 $159,409 $3,821 4.02%
    $100k-150k 118 $22,270,000 $188,729 $4,164 4.14%
    $150k-250k 26 $7,300,000 $280,769 $5,150 4.06%
    $250k+ 3 $1,075,000 $358,333 $6,195 3.38%

    Knoxville Tva Employees Credit Union lent most frequently to those with incomes in the $50k or less range, with 202 originations. The second most popular income band? $50k-75k, with 167 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 186 $27,070,000 $145,538 $3,641 4.06%
    30-36% 141 $21,635,000 $153,440 $3,723 4.22%
    <20% 71 $7,775,000 $109,507 $3,165 3.82%
    41% 33 $4,305,000 $130,455 $3,311 4.17%
    40% 33 $5,585,000 $169,242 $3,882 4.17%
    39% 31 $4,755,000 $153,387 $3,730 4.21%
    37% 30 $4,270,000 $142,333 $3,572 4.08%
    36% 26 $4,520,000 $173,846 $4,084 4.15%
    42% 22 $3,500,000 $159,091 $3,806 3.98%
    38% 21 $2,795,000 $133,095 $3,508 4.32%
    43% 9 $1,135,000 $126,111 $3,456 4.13%
    >60% 5 $755,000 $151,000 $3,289 4.33%
    50-60% 3 $465,000 $155,000 $3,579 4.33%
    44% 2 $410,000 $205,000 $4,355 4.56%
    45% 2 $340,000 $170,000 $3,520 3.75%
    46% 2 $270,000 $135,000 $3,565 4.13%

    Knoxville Tva Employees Credit Union lent most frequently to those with DTI ratios of 20-30%, with 186 originations. The next most common DTI ratio? 30-36%, with 141 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 625 $89,645,000 $143,432 $3,593 4.09%
    Not applicable 6 $5,710,000 $951,667 $4,031 4.36%
    Black 15 $2,245,000 $149,667 $3,430 4.22%
    Not provided 9 $1,425,000 $158,333 $4,031 3.88%
    Asian 3 $585,000 $195,000 $4,186 3.92%
    American Indian 2 $260,000 $130,000 $3,383 4.38%

    Approval Rates

    Total approvals of all applications
    91.43%

    Knoxville Tva Employees Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    66.21%

    Knoxville Tva Employees Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 660 $99,870,000 $151,318

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $5,585,000 $1,117,000
    Single Family (1-4 Units):Manufactured 12 $690,000 $57,500
    Single Family (1-4 Units):Site-Built 643 $93,595,000 $145,560

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 46 $7,160,000 $155,652 $2,513 3.79%
    40-60% 104 $11,950,000 $114,904 $3,234 3.79%
    60-80% 223 $34,675,000 $155,493 $3,678 3.96%
    80-100% 247 $42,285,000 $171,194 $3,971 4.44%
    Under 20% 13 $525,000 $40,385 $2,010 4.20%