Bank Of Tennessee Mortgage Rates, Fees & Info
Kingsport, TNLEI: 549300CTISSNREVLNO46
Tax ID: 62-0921694
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Mortgage Data
Review & Overview
Bank Of Tennessee is a smaller bank specializing in Home Purchase loans. Bank Of Tennessee has a high proportion of conventional loans. Bank Of Tennessee has an average proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Nashville, Johnson City, Kingsport, Knoxville, and Boone among others. We have data for 42 markets. (Some data included below & more in-depth data is available with an active subscription.)Bank Of Tennessee has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Bank Of Tennessee 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 relatively high 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 11/17/24 |
| 30 Year Conventional Purchase | 7.12% | 11/17/24 |
| 30 Year Conventional Refi | 7.16% | 11/17/24 |
| 30 Year Cash-out Refi | 6.68% | 11/17/24 |
| 30 Year FHA Purchase | 7.49% | 11/17/24 |
| 30 Year FHA Refi | 6.27% | 11/17/24 |
| 30 Year VA Purchase | 6.34% | 11/17/24 |
| 30 Year VA Refi | 6.27% | 11/17/24 |
| 30 Year USDA Purchase | 6.66% | 11/17/24 |
| 15 Year Conventional Purchase | 7.01% | 11/17/24 |
| 15 Year Conventional Refi | 6.77% | 11/17/24 |
| 15 Year Cash-out Refi | 6.77% | 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. | ||
Bank Of Tennessee Mortgage Calculator
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
661Origination Dollar Volume (All Markets)
$174,985,000Awards
Bank of Tennessee - 2023
Bank of Tennessee is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Bank Of Tennessee's average 30 year fixed mortgage rate was
6.96%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.48%.
Relative Fees (Closing Costs)
Bank Of Tennessee's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,686.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
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 |
|---|---|---|---|---|---|
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 194 | $70,020,000 | $360,928 | $8,128 | 6.84% |
| JOHNSON CITY, TN (FHA|USDA|VA) | 203 | $37,045,000 | $182,488 | $5,161 | 7.28% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 102 | $22,850,000 | $224,020 | $4,945 | 6.97% |
| Outside of Metro Areas | 56 | $12,450,000 | $222,321 | $5,527 | 7.76% |
| KNOXVILLE, TN (FHA|USDA|VA) | 29 | $7,755,000 | $267,414 | $6,427 | 7.39% |
| Boone, NC (FHA|USDA|VA) | 16 | $5,730,000 | $358,125 | $5,962 | 7.74% |
| Greeneville, TN (FHA|USDA|VA) | 5 | $2,085,000 | $417,000 | $5,161 | 8.13% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 3 | $1,935,000 | $645,000 | $9,606 | 6.87% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 2 | $1,170,000 | $585,000 | $9,161 | 5.94% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 2 | $930,000 | $465,000 | $5,134 | 6.88% |
| Newport, TN (FHA|USDA|VA) | 1 | $925,000 | $925,000 | $0 | 6.45% |
| Sevierville, TN (FHA|USDA|VA) | 3 | $885,000 | $295,000 | $9,368 | 7.13% |
| Lewisburg, TN (FHA|USDA|VA) | 4 | $850,000 | $212,500 | $2,950 | 4.26% |
| BOWLING GREEN, KY (FHA|USDA|VA) | 3 | $775,000 | $258,333 | $5,957 | 7.07% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 3 | $745,000 | $248,333 | $6,330 | 7.78% |
| Jasper, AL (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $10,811 | 7.28% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $7,815 | 6.88% |
| Muscatine, IA (FHA|USDA|VA) | 1 | $635,000 | $635,000 | $2,994 | 7.13% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $9,914 | 7.41% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 3 | $515,000 | $171,667 | $6,553 | 3.71% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $5,433 | 6.38% |
| MORRISTOWN, TN (FHA|USDA|VA) | 3 | $455,000 | $151,667 | $5,131 | 8.24% |
| McMinnville, TN (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $2,632 | 6.74% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $7,497 | 5.75% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $12,101 | 5.50% |
| Shelbyville, TN (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $7,688 | 7.82% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 3 | $365,000 | $121,667 | $0 | 5.99% |
| FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $9,363 | 5.50% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $7,194 | 7.98% |
| Glasgow, KY (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,571 | 6.38% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $5,533 | 8.02% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 7.13% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $6,401 | 8.64% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $7,835 | 5.50% |
| OCALA, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,130 | 8.04% |
| Tullahoma-Manchester, TN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $5,196 | 8.46% |
| Union City, TN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,691 | 7.88% |
| COLUMBIA, MO (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,338 | 6.75% |
| HAMMOND, LA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,661 | 7.63% |
| JACKSON, TN (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 7.26% |
| MUNCIE, IN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 8.21% |
| Marion, NC (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 6.69% |
Similar Lenders
We use machine learning to identify the top lenders compared against Bank of Tennessee 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
For 2023, Bank Of Tennessee's most frequently originated type of loan was Conventional, with 387 originations. Their 2nd most popular type was Conventional, with 204 originations.
Loan Reason
For 2023, Bank Of Tennessee's most frequently cited loan purpose was Home Purchase, with 397 originations. The 2nd most popular reason was Home Improvement, with 100 originations.
Loan Duration/Length
For 2023, Bank Of Tennessee's most frequently cited loan duration was 30 Year, with 352 originations. The 2nd most popular length was Other, with 210 originations.
Origination Fees/Closing Costs
Bank Of Tennessee's average total fees were $6,686, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 131 originations.
Interest Rates
During 2023, Bank Of Tennessee's average interest rate for loans was 6.96%, while their most frequently originated rate bucket for loans was 6-7%, with 159 originations.
Loan Sizing
2023 saw Bank Of Tennessee place emphasis on $200k-400k loans with 214 originations, totaling $59,930,000 in origination value.
Applicant Income
Bank Of Tennessee lent most frequently to those with incomes in the $100k-150k range, with 133 originations. The second most popular income band? $150k-250k, with 111 originations.
Applicant Debt to Income Ratio
Bank Of Tennessee lent most frequently to those with DTI ratios of Exempt%, with 204 originations. The next most common DTI ratio? 30-36%, with 69 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.13%
Bank Of Tennessee has an average approval rate.
Pick Rate
Approvals leading to origination76.40%
Bank Of Tennessee has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 204 | $31,230,000 | $153,088 |
| NA | 457 | $143,755,000 | $314,562 |