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. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) 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 40 markets. (Some data included below & more in-depth data is available with an active subscription.)Bank Of Tennessee 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. 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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 5/28/23 |
| 30 Year Conventional Purchase | 7.12% | 5/28/23 |
| 30 Year Conventional Refi | 7.16% | 5/28/23 |
| 30 Year Cash-out Refi | 6.68% | 5/28/23 |
| 30 Year FHA Purchase | 7.49% | 5/28/23 |
| 30 Year FHA Refi | 6.27% | 5/28/23 |
| 30 Year VA Purchase | 6.34% | 5/28/23 |
| 30 Year VA Refi | 6.27% | 5/28/23 |
| 30 Year USDA Purchase | 6.66% | 5/28/23 |
| 15 Year Conventional Purchase | 7.01% | 5/28/23 |
| 15 Year Conventional Refi | 6.77% | 5/28/23 |
| 15 Year Cash-out Refi | 6.77% | 5/28/23 |
| 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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This is not an official calculator from Bank Of Tennessee. 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
905Origination Dollar Volume (All Markets)
$288,285,000Relative Rate
Bank Of Tennessee's average 30 year fixed mortgage rate was
5.24%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
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 $6,699.
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 $4,750.
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) | 317 | $133,295,000 | $420,489 | $7,402 | 5.21% |
| JOHNSON CITY, TN (FHA|USDA|VA) | 227 | $45,845,000 | $201,960 | $5,201 | 5.30% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 114 | $25,230,000 | $221,316 | $5,299 | 5.21% |
| KNOXVILLE, TN (FHA|USDA|VA) | 50 | $24,500,000 | $490,000 | $6,356 | 5.05% |
| Outside of Metro Areas | 105 | $20,905,000 | $199,095 | $5,511 | 5.81% |
| Boone, NC (FHA|USDA|VA) | 26 | $7,570,000 | $291,154 | $6,780 | 5.32% |
| Sevierville, TN (FHA|USDA|VA) | 10 | $6,030,000 | $603,000 | $11,312 | 6.18% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 2 | $5,950,000 | $2,975,000 | $0 | 5.13% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 4 | $2,500,000 | $625,000 | $10,939 | 5.92% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 6 | $2,420,000 | $403,333 | $7,078 | 5.29% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 2 | $1,910,000 | $955,000 | $15,219 | 3.98% |
| Greeneville, TN (FHA|USDA|VA) | 9 | $1,085,000 | $120,556 | $3,331 | 5.23% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 3 | $915,000 | $305,000 | $9,630 | 6.14% |
| MORRISTOWN, TN (FHA|USDA|VA) | 2 | $880,000 | $440,000 | $10,928 | 4.55% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $38,636 | 4.99% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $6,019 | 5.38% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $0 | 3.88% |
| McMinnville, TN (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $7,344 | 4.88% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 1 | $535,000 | $535,000 | $9,983 | 8.10% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $10,013 | 6.71% |
| WILLIAMSPORT, PA (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $5,200 | 5.00% |
| Forest City, NC (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $9,761 | 4.09% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $3,037 | 5.50% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $3,232 | 5.50% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $8,358 | 4.88% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $10,411 | 4.88% |
| Martin, TN (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $9,920 | 5.75% |
| BOWLING GREEN, KY (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $3,278 | 5.88% |
| MADISON, WI (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $2,826 | 3.88% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $0 | 4.00% |
| CLEVELAND, TN (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,907 | 5.13% |
| Lewisburg, TN (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 7.00% |
| Shelbyville, TN (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $15,422 | 4.63% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 5.70% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 4.75% |
| Lawrenceburg, TN (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,517 | 5.62% |
| HAMMOND, LA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 4.88% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 8.00% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $3,466 | 5.38% |
| Marion, NC (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 5.00% |
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 2022, Bank Of Tennessee's most frequently originated type of loan was Conventional, with 623 originations. Their 2nd most popular type was HELOC, with 247 originations.
Loan Reason
For 2022, Bank Of Tennessee's most frequently cited loan purpose was Home Purchase, with 503 originations. The 2nd most popular reason was Refi, with 144 originations.
Loan Duration/Length
For 2022, Bank Of Tennessee's most frequently cited loan duration was 30 Year, with 524 originations. The 2nd most popular length was Other, with 184 originations.
Origination Fees/Closing Costs
Bank Of Tennessee's average total fees were $6,699, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 201 originations.
Interest Rates
During 2022, Bank Of Tennessee's average interest rate for loans was 5.24%, while their most frequently originated rate bucket for loans was 4-5%, with 276 originations.
Loan Sizing
2022 saw Bank Of Tennessee place emphasis on $200k-400k loans with 304 originations, totaling $84,200,000 in origination value.
Applicant Income
Bank Of Tennessee lent most frequently to those with incomes in the $150k-250k range, with 166 originations. The second most popular income band? $100k-150k, with 148 originations.
Applicant Debt to Income Ratio
Bank Of Tennessee lent most frequently to those with DTI ratios of 30-36%, with 146 originations. The next most common DTI ratio? 20-30%, with 141 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.63%
Bank Of Tennessee has an average approval rate.
Pick Rate
Approvals leading to origination67.73%
Bank Of Tennessee has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 4 | $860,000 | $215,000 |
| NA | 901 | $287,425,000 | $319,007 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| BANK OF NEW YORK MELLON CORPORATION, THE | Reverse mortgage | Struggling to pay mortgage | 1 | 100.0% |