Tennessee Valley Mortgage Rates, Fees & Info

Chattanooga, TN

LEI: 5493007669OVCSCATP45

Tax ID: 62-0156595

5 stars - out of 5 stars, based on 40 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Tennessee Valley is a smaller mortgage company specializing in Home Purchase, Cash Out Refi, and Refi loans. Tennessee Valley has a high proportion of conventional loans. Their top markets include Chattanooga, Cleveland, Athens, Knoxville, and Dayton among others. Tennessee Valley has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Tennessee Valley is typically an average fee lendor.


Originations

1,624

Origination Dollar Volume (All Markets)

$298,320,000

Awards

TENNESSEE VALLEY 30 Year Conventional Loans silver TENNESSEE VALLEY 30 Year Conventional Loans gold
Show all (2) awards

Relative Rate

Tennessee Valley's average 30 year fixed rate mortgage of loans were 3.11%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.04%.

Relative Fees

Tennessee Valley's average total fees for a 30 year fixed rate mortgage are $4,142.

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
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1,219 $225,135,000 $184,688 $3,477 3.30%
CLEVELAND, TN (FHA|USDA|VA) 207 $34,145,000 $164,952 $3,211 3.44%
Athens, TN (FHA|USDA|VA) 49 $7,285,000 $148,673 $3,021 3.43%
Outside of Metro Areas 35 $5,895,000 $168,429 $3,254 3.36%
KNOXVILLE, TN (FHA|USDA|VA) 11 $5,345,000 $485,909 $5,076 3.30%
Dayton, TN (FHA|USDA|VA) 36 $5,230,000 $145,278 $3,082 3.36%
DALTON, GA (FHA|USDA|VA) 25 $4,015,000 $160,600 $3,391 3.07%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 6 $2,420,000 $403,333 $5,649 3.00%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 4 $1,660,000 $415,000 $5,466 2.96%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 6 $1,570,000 $261,667 $4,348 2.89%
Sevierville, TN (FHA|USDA|VA) 1 $1,245,000 $1,245,000 $0 2.35%
Scottsboro, AL (FHA|USDA|VA) 10 $1,190,000 $119,000 $2,690 3.43%
Summerville, GA (FHA|USDA|VA) 1 $765,000 $765,000 $7,677 3.25%
SAVANNAH, GA (FHA|USDA|VA) 1 $495,000 $495,000 $7,974 2.69%
HUNTSVILLE, AL (FHA|USDA|VA) 2 $390,000 $195,000 $6,038 2.68%
Fort Payne, AL (FHA|USDA|VA) 4 $360,000 $90,000 $2,370 4.08%
MORRISTOWN, TN (FHA|USDA|VA) 1 $275,000 $275,000 $4,571 3.99%
Shelbyville, TN (FHA|USDA|VA) 1 $255,000 $255,000 $4,224 3.74%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $185,000 $185,000 $4,404 3.62%
St. Marys, GA (FHA|USDA|VA) 1 $165,000 $165,000 $3,362 3.25%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $155,000 $155,000 $0 2.75%
THE VILLAGES, FL (FHA|USDA|VA) 1 $105,000 $105,000 $1,845 3.62%
Calhoun, GA (FHA|USDA|VA) 1 $35,000 $35,000 $1,542 5.46%

Tennessee Valley's top markets include Chattanooga, Cleveland, Athens, Knoxville, and Dayton among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,624 $298,320,000 $183,695 $3,439 3.32%

For the 2021 period, Tennessee Valley's most frequently originated loan type of loans were Conventional, with 1,624 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 600 $136,400,000 $227,333 $4,042 3.33%
Cash Out Refi 479 $86,735,000 $181,075 $3,340 3.40%
Refi 391 $62,805,000 $160,627 $3,252 2.89%
Other 153 $12,265,000 $80,163 $1,993 4.15%
Home Improvement 1 $115,000 $115,000 $0 3.75%

For the 2021, Tennessee Valley's most frequently cited loan purpose of loans were Home Purchase, with 600 originations. The 2nd most popular reason of loans were Cash Out Refi, with 479 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 541 $88,315,000 $163,244 $3,292 3.76%
30 Year 539 $130,245,000 $241,642 $4,142 3.11%
15 Year 312 $40,900,000 $131,090 $2,786 3.05%
5 Year 92 $20,710,000 $225,109 $1,012 3.23%
10 Year 72 $6,370,000 $88,472 $1,986 3.38%
20 Year 67 $11,615,000 $173,358 $3,496 2.90%
3 Year 1 $165,000 $165,000 $0 3.50%

For the 2021, Tennessee Valley's most frequently cited loan length of loans were Other, with 541 originations. The 2nd most popular length of loans were 30 Year, with 539 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 676 $87,160,000 $128,935
$2k-3k 388 $84,840,000 $218,660
$<1k 231 $17,845,000 $77,251
$3k-4k 183 $65,245,000 $356,530
$5k+ 28 $17,610,000 $628,929

$4,142 of loans were Tennessee Valley's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 676 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 822 $161,600,000 $196,594
2.5-3% 493 $96,875,000 $196,501
<2.5% 146 $22,600,000 $154,795
4-5% 121 $15,145,000 $125,165
5-6% 41 $2,075,000 $50,610
6-7% 1 $25,000 $25,000

During 2021, Tennessee Valley's average interest rate of loans were 3.11%, while their most frequently originated rate bucket of loans were 3-4%, with 822 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 762 $112,190,000 $147,231 $3,137 3.23%
$200k-400k 434 $116,310,000 $267,995 $4,576 3.23%
$100,000 or less 354 $23,040,000 $65,085 $1,947 3.67%
$400k-600k 54 $25,740,000 $476,667 $6,707 3.12%
$600k-1MM 13 $9,345,000 $718,846 $7,465 3.20%
$1MM+ 7 $11,695,000 $1,670,714 $11,119 3.19%

2021 saw Tennessee Valley place emphasis on $100k-200k loans with 762 originations, totaling $112,190,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 401 $62,115,000 $154,900 $3,159 3.29%
$50k or less 391 $48,695,000 $124,540 $2,837 3.36%
$100k-150k 291 $60,545,000 $208,058 $3,856 3.28%
$75k-100k 289 $55,135,000 $190,779 $3,601 3.34%
$150k-250k 118 $33,210,000 $281,441 $4,551 3.40%
$250k+ 36 $16,260,000 $451,667 $5,084 3.22%

Tennessee Valley lent most frequently to those with incomes in the $50k-75k range, with 401 originations. The second most popular income band? $50k or less, with 391 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 366 $64,210,000 $175,437 $3,371 3.16%
30-36% 263 $45,535,000 $173,137 $3,418 3.28%
<20% 162 $27,700,000 $170,988 $3,387 3.06%
39% 63 $14,105,000 $223,889 $3,701 3.25%
44% 59 $10,645,000 $180,424 $3,492 3.51%
37% 53 $9,585,000 $180,849 $3,512 3.28%
48% 53 $10,345,000 $195,189 $3,648 3.49%
43% 51 $10,145,000 $198,922 $3,491 3.50%
42% 50 $9,730,000 $194,600 $3,375 3.51%
40% 50 $9,460,000 $189,200 $3,508 3.40%
47% 49 $8,345,000 $170,306 $3,527 3.63%
41% 48 $8,440,000 $175,833 $3,390 3.56%
38% 47 $9,075,000 $193,085 $3,531 3.42%
45% 45 $8,915,000 $198,111 $3,568 3.57%
49% 45 $7,835,000 $174,111 $3,299 3.73%
36% 43 $7,455,000 $173,372 $3,306 3.46%
46% 41 $7,325,000 $178,659 $3,476 3.53%
>60% 8 $1,370,000 $171,250 $3,142 3.53%
50-60% 7 $1,585,000 $226,429 $3,451 3.82%

Tennessee Valley lent most frequently to those with DTI ratios of 20-30%, with 366 originations. The next most common DTI ratio? 30-36%, with 263 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,265 $227,645,000 $179,957 $3,426 3.33%
Not provided 151 $31,165,000 $206,391 $3,622 3.32%
Not applicable 86 $19,640,000 $228,372 $0 3.31%
Black 100 $16,580,000 $165,800 $3,405 3.30%
Asian 10 $1,610,000 $161,000 $3,204 3.29%
American Indian 10 $1,430,000 $143,000 $2,977 3.37%
Asian Indian 1 $155,000 $155,000 $0 3.25%
Native Hawaiian 1 $95,000 $95,000 $2,337 2.63%

Approval Rates

Total approvals of all applications
88.56%

Tennessee Valley has an average approval rate.

Pick Rate

Approvals leading to origination
63.41%

Tennessee Valley 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 1,624 $298,320,000 $183,695

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,624 $298,320,000 $183,695

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 145 $12,265,000 $84,586 $2,146 3.47%
40-60% 267 $34,875,000 $130,618 $2,932 3.01%
60-80% 529 $101,625,000 $192,108 $3,549 3.25%
80-100% 621 $147,035,000 $236,771 $4,069 3.37%
Under 20% 62 $2,520,000 $40,645 $1,394 4.42%