City Employees Credit Union Mortgage Rates, Fees & Info

KNOXVILLE, TN

LEI: 549300BUVM9AXNUI6G83

Tax ID: 62-0160633

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
  • 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

    City Employees Credit Union is a smaller credit union specializing in Other and Cash Out Refi loans. City Employees Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Knoxville, Chattanooga, Morristown, Nashville, and Sevierville among others. We have data for 6 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% 11/17/24
    15 Year Cash-out Refi 4.89% 11/17/24
    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






    Your Estimates

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    This is not an official calculator from City 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

    81

    Origination Dollar Volume (All Markets)

    $7,715,000

    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) 71 $6,685,000 $94,155 $976 3.80%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 2 $530,000 $265,000 $1,934 4.94%
    MORRISTOWN, TN (FHA|USDA|VA) 4 $210,000 $52,500 $926 3.81%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $155,000 $155,000 $1,323 3.75%
    Outside of Metro Areas 1 $105,000 $105,000 $566 4.13%
    Sevierville, TN (FHA|USDA|VA) 2 $30,000 $15,000 $489 3.56%
    City Employees Credit Union's top markets include Knoxville, Chattanooga, Morristown, Nashville, and Sevierville among others.

    Their top states include:
  • Tennessee (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 80 $7,640,000 $95,500 $985 3.82%
    HELOC 1 $75,000 $75,000 n/a 4.75%

    For 2022, City Employees Credit Union's most frequently originated type of loan was Conventional, with 80 originations. Their 2nd most popular type was HELOC, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 39 $2,245,000 $57,564 $605 3.99%
    Cash Out Refi 28 $3,280,000 $117,143 $1,289 3.33%
    Refi 8 $950,000 $118,750 $877 3.84%
    Home Purchase 5 $1,215,000 $243,000 $2,502 5.50%
    Home Improvement 1 $25,000 $25,000 $474 2.75%

    For 2022, City Employees Credit Union's most frequently cited loan purpose was Other, with 39 originations. The 2nd most popular reason was Cash Out Refi, with 28 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 29 $2,645,000 $91,207 $792 4.08%
    20 Year 18 $3,470,000 $192,778 $2,079 4.10%
    5 Year 16 $670,000 $41,875 $534 3.16%
    10 Year 15 $845,000 $56,333 $683 3.78%
    Other 3 $85,000 $28,333 $468 3.63%

    For 2022, City Employees Credit Union's most frequently cited loan duration was 15 Year, with 29 originations. The 2nd most popular length was 20 Year, with 18 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 22 $4,100,000 $186,364

    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 22 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 33 $3,985,000 $120,758
    4-5% 26 $1,860,000 $71,538
    2.5-3% 9 $985,000 $109,444
    <2.5% 6 $250,000 $41,667
    5-6% 6 $480,000 $80,000
    Over 8% 1 $155,000 $155,000

    During 2022, 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 33 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 53 $2,475,000 $46,698 $605 3.89%
    $100k-200k 19 $2,725,000 $143,421 $1,329 3.70%
    $200k-400k 7 $1,695,000 $242,143 $2,245 3.57%
    $400k-600k 2 $820,000 $410,000 $3,004 4.13%

    2022 saw City Employees Credit Union place emphasis on $100,000 or less loans with 53 originations, totaling $2,475,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 23 $1,235,000 $53,696 $665 3.88%
    $75k-100k 16 $1,770,000 $110,625 $1,068 3.51%
    $50k or less 14 $960,000 $68,571 $1,011 3.63%
    $100k-150k 13 $1,475,000 $113,462 $1,163 4.30%
    $150k-250k 10 $1,780,000 $178,000 $1,436 3.99%
    $250k+ 4 $470,000 $117,500 $791 3.81%

    City Employees Credit Union lent most frequently to those with incomes in the $50k-75k range, with 23 originations. The second most popular income band? $75k-100k, with 16 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 25 $2,505,000 $100,200 $1,000 3.91%
    <20% 20 $1,250,000 $62,500 $704 3.86%
    30-36% 19 $2,365,000 $124,474 $1,126 3.74%
    42% 3 $355,000 $118,333 $1,084 3.25%
    41% 2 $70,000 $35,000 $639 4.94%
    37% 2 $180,000 $90,000 $1,366 4.19%
    38% 2 $50,000 $25,000 $441 3.25%
    45% 2 $220,000 $110,000 $1,273 3.25%
    36% 1 $25,000 $25,000 $418 4.25%
    43% 1 $115,000 $115,000 $1,822 3.13%
    44% 1 $255,000 $255,000 $3,022 3.25%
    50-60% 1 $75,000 $75,000 $492 5.50%
    47% 1 $165,000 $165,000 $2,088 3.25%
    40% 1 $85,000 $85,000 $510 3.63%

    City Employees Credit Union lent most frequently to those with DTI ratios of 20-30%, with 25 originations. The next most common DTI ratio? <20%, with 20 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 73 $7,115,000 $97,466 $974 3.77%
    Black 8 $600,000 $75,000 $1,084 4.36%

    Approval Rates

    Total approvals of all applications
    96.51%

    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 origination
    97.53%

    City Employees Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 81 $7,715,000 $95,247

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    81 $7,715,000 $95,247

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 14 $1,130,000 $80,714 $786 3.63%
    40-60% 19 $1,805,000 $95,000 $959 4.05%
    60-80% 17 $3,135,000 $184,412 $1,698 3.61%
    80-100% 2 $640,000 $320,000 $2,722 4.13%
    Under 20% 29 $1,005,000 $34,655 $546 3.89%