City Employees Credit Union Mortgage Rates, Fees & Info
KNOXVILLE, TNLEI: 549300BUVM9AXNUI6G83
Tax ID: 62-0160633
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
City Employees Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. City Employees Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Knoxville, Morristown, and Sevierville among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)City Employees Credit Union has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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 |
|---|---|---|
| 15 Year Conventional Refi | 4.89% | 11/23/24 |
| 15 Year Cash-out Refi | 4.89% | 11/23/24 |
| 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. | ||
City Employees Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
69Origination Dollar Volume (All Markets)
$7,675,000Top 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) | 55 | $5,795,000 | $105,364 | $937 | 3.90% |
| MORRISTOWN, TN (FHA|USDA|VA) | 8 | $1,020,000 | $127,500 | $753 | 4.52% |
| Sevierville, TN (FHA|USDA|VA) | 4 | $600,000 | $150,000 | $964 | 3.83% |
| Outside of Metro Areas | 2 | $260,000 | $130,000 | $1,910 | 3.56% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 65 | $7,255,000 | $111,615 | $946 | 3.92% |
| HELOC | 4 | $420,000 | $105,000 | n/a | 4.83% |
For 2018, City Employees Credit Union's most frequently originated type of loan was Conventional, with 65 originations. Their 2nd most popular type was HELOC, with 4 originations.
Loan Reason
For 2018, City Employees Credit Union's most frequently cited loan purpose was Refi, with 38 originations. The 2nd most popular reason was Home Purchase, with 10 originations.
Loan Duration/Length
For 2018, City Employees Credit Union's most frequently cited loan duration was Other, with 57 originations. The 2nd most popular length was 10 Year, with 4 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 18 | $2,610,000 | $145,000 |
City Employees Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 18 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 44 | $5,060,000 | $115,000 |
| 4-5% | 11 | $1,225,000 | $111,364 |
| 2.5-3% | 5 | $445,000 | $89,000 |
| 5-6% | 3 | $365,000 | $121,667 |
| 7-8% | 1 | $25,000 | $25,000 |
During 2018, City Employees Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 44 originations.
Loan Sizing
2018 saw City Employees Credit Union place emphasis on $100,000 or less loans with 34 originations, totaling $1,840,000 in origination value.
Applicant Income
City Employees Credit Union lent most frequently to those with incomes in the $50k-75k range, with 21 originations. The second most popular income band? $100k-150k, with 18 originations.
Applicant Debt to Income Ratio
City Employees Credit Union lent most frequently to those with DTI ratios of 20-30%, with 18 originations. The next most common DTI ratio? <20%, with 11 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 65 | $7,375,000 | $113,462 | $976 | 3.99% |
| Black | 4 | $300,000 | $75,000 | $693 | 3.63% |
Approval Rates
Total approvals of all applications100.00%
City Employees Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination92.75%
City Employees Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 345.0 | 1 | $145,000 | $145,000 |
| 481.24 | 1 | $35,000 | $35,000 |
| NA | 67 | $7,495,000 | $111,866 |