U. T. Mortgage Rates, Fees & Info
Knoxville, TNLEI: 5493008XX3NZ5S384W16
Tax ID: 62-0853550
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Mortgage Data
Review & Overview
U. T. is a smaller mortgage company specializing in Refi and Home Purchase loans. U. T. has a high proportion of conventional loans. Their top markets by origination volume include: Knoxville, Martin, Memphis, Chattanooga, 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.)U. T. 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. U. T. 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.36% | 4/28/24 |
| 30 Year Conventional Refi | 6.27% | 4/28/24 |
| 30 Year Cash-out Refi | 6.58% | 4/28/24 |
| 15 Year Conventional Purchase | 5.23% | 4/28/24 |
| 15 Year Conventional Refi | 5.80% | 4/28/24 |
| 15 Year Cash-out Refi | 5.80% | 4/28/24 |
| 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. | ||
U. T. Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
321Origination Dollar Volume (All Markets)
$35,385,000Top 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) | 239 | $25,545,000 | $106,883 | $1,992 | 4.68% |
| Martin, TN (FHA|USDA|VA) | 38 | $3,570,000 | $93,947 | $1,421 | 3.95% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 10 | $1,570,000 | $157,000 | $2,814 | 3.59% |
| Outside of Metro Areas | 1 | $1,005,000 | $1,005,000 | $0 | 4.90% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 3 | $695,000 | $231,667 | $4,959 | 4.21% |
| JOHNSON CITY, TN (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $5,675 | 4.00% |
| Sevierville, TN (FHA|USDA|VA) | 8 | $490,000 | $61,250 | $1,140 | 5.09% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $5,090 | 5.19% |
| Union City, TN (FHA|USDA|VA) | 6 | $430,000 | $71,667 | $2,140 | 4.02% |
| JACKSON, TN (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $2,288 | 3.81% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $1,535 | 5.63% |
| MORRISTOWN, TN (FHA|USDA|VA) | 4 | $200,000 | $50,000 | $0 | 5.09% |
| Athens, TN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,731 | 5.00% |
| Newport, TN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 3.63% |
| Crossville, TN (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $707 | 3.13% |
| Dyersburg, TN (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $452 | 5.98% |
Similar Lenders
We use machine learning to identify the top lenders compared against U. T. based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 259 | $31,145,000 | $120,251 | $1,991 | 4.31% |
| HELOC | 62 | $4,240,000 | $68,387 | n/a | 5.60% |
For 2019, U. T.'s most frequently originated type of loan was Conventional, with 259 originations. Their 2nd most popular type was HELOC, with 62 originations.
Loan Reason
For 2019, U. T.'s most frequently cited loan purpose was Home Improvement, with 100 originations. The 2nd most popular reason was Refi, with 98 originations.
Loan Duration/Length
For 2019, U. T.'s most frequently cited loan duration was 15 Year, with 196 originations. The 2nd most popular length was 10 Year, with 53 originations.
Origination Fees/Closing Costs
U. T.'s average total fees were $4,955, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 148 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 120 | $16,350,000 | $136,250 |
| 4-5% | 92 | $11,910,000 | $129,457 |
| 5-6% | 86 | $5,170,000 | $60,116 |
| 6-7% | 21 | $1,665,000 | $79,286 |
| 2.5-3% | 1 | $125,000 | $125,000 |
During 2019, U. T.'s average interest rate for loans was 4.09%, while their most frequently originated rate bucket for loans was 3-4%, with 120 originations.
Loan Sizing
2019 saw U. T. place emphasis on $100,000 or less loans with 195 originations, totaling $9,415,000 in origination value.
Applicant Income
U. T. lent most frequently to those with incomes in the $100k-150k range, with 83 originations. The second most popular income band? $50k-75k, with 68 originations.
Applicant Debt to Income Ratio
U. T. lent most frequently to those with DTI ratios of 20-30%, with 97 originations. The next most common DTI ratio? <20%, with 64 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.97%
U. T. has an average approval rate.
Pick Rate
Approvals leading to origination83.18%
U. T. has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 321 | $35,385,000 | $110,234 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 2 | $380,000 | $190,000 |
| Single Family (1-4 Units):Site-Built | 319 | $35,005,000 | $109,734 |