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 Cash Out Refi, Other, and Refi loans. City Employees Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Knoxville, Sevierville, and Morristown among others. We have data for 3 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 15 Year Conventional Refi | 4.89% | 11/21/24 |
| 15 Year Cash-out Refi | 4.89% | 11/21/24 |
| 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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Originations
73Origination Dollar Volume (All Markets)
$6,685,000Top 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) | 64 | $5,920,000 | $92,500 | $778 | 3.41% |
| Sevierville, TN (FHA|USDA|VA) | 5 | $565,000 | $113,000 | $759 | 3.13% |
| MORRISTOWN, TN (FHA|USDA|VA) | 4 | $200,000 | $50,000 | $288 | 3.13% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 73 | $6,685,000 | $91,575 | $749 | 3.38% |
For 2020, City Employees Credit Union's most frequently originated type of loan was Conventional, with 73 originations.
Loan Reason
For 2020, City Employees Credit Union's most frequently cited loan purpose was Cash Out Refi, with 28 originations. The 2nd most popular reason was Other, with 24 originations.
Loan Duration/Length
For 2020, City Employees Credit Union's most frequently cited loan duration was 15 Year, with 25 originations. The 2nd most popular length was 10 Year, with 19 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 31 | $3,445,000 | $111,129 |
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 31 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 47 | $5,065,000 | $107,766 |
| 2.5-3% | 19 | $1,155,000 | $60,789 |
| 4-5% | 3 | $165,000 | $55,000 |
| 5-6% | 3 | $275,000 | $91,667 |
| 6-7% | 1 | $25,000 | $25,000 |
During 2020, 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 47 originations.
Loan Sizing
2020 saw City Employees Credit Union place emphasis on $100,000 or less loans with 46 originations, totaling $2,380,000 in origination value.
Applicant Income
City Employees Credit Union lent most frequently to those with incomes in the $100k-150k range, with 19 originations. The second most popular income band? $50k-75k, with 17 originations.
Applicant Debt to Income Ratio
City Employees Credit Union lent most frequently to those with DTI ratios of 20-30%, with 29 originations. The next most common DTI ratio? <20%, with 19 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 67 | $6,045,000 | $90,224 | $707 | 3.32% |
| Black | 5 | $475,000 | $95,000 | $1,032 | 4.10% |
| Asian | 1 | $165,000 | $165,000 | $2,003 | 3.25% |
Approval Rates
Total approvals of all applications98.72%
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 origination94.52%
City Employees Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 405.0 | 1 | $25,000 | $25,000 |
| NA | 72 | $6,660,000 | $92,500 |