Alcoa Tenn Federal Credit Union Mortgage Rates, Fees & Info

Alcoa, TN

LEI: 549300DV2WBWN5ZEMV06

Tax ID: 62-0456993

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Alcoa Tenn Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. Alcoa Tenn Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Knoxville, Sevierville, and Chattanooga among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Alcoa Tenn Federal Credit Union 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. Alcoa Tenn Federal Credit Union is typically a low 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 about average 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
    30 Year Conventional Purchase 6.28% 11/21/24
    30 Year Conventional Refi 6.08% 11/21/24
    30 Year Cash-out Refi 6.42% 11/21/24
    15 Year Conventional Purchase 7.91% 11/21/24
    15 Year Conventional Refi 4.77% 11/21/24
    15 Year Cash-out Refi 4.77% 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.

    Alcoa Tenn Federal Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Alcoa Tenn Federal 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

    178

    Origination Dollar Volume (All Markets)

    $23,700,000

    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) 166 $21,730,000 $130,904 $927 3.65%
    Outside of Metro Areas 7 $905,000 $129,286 $0 3.11%
    Sevierville, TN (FHA|USDA|VA) 4 $710,000 $177,500 $0 3.66%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $355,000 $355,000 $0 3.35%
    Alcoa Tenn Federal Credit Union's top markets include Knoxville, Sevierville, and Chattanooga among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 178 $23,700,000 $133,146 $927 3.63%

    For 2020, Alcoa Tenn Federal Credit Union's most frequently originated type of loan was Conventional, with 178 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 108 $13,740,000 $127,222 $868 3.67%
    Refi 39 $5,415,000 $138,846 $1,104 3.14%
    Home Purchase 30 $4,530,000 $151,000 $809 4.06%
    Home Improvement 1 $15,000 $15,000 $0 5.25%

    For 2020, Alcoa Tenn Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 108 originations. The 2nd most popular reason was Refi, with 39 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 96 $11,340,000 $118,125 $853 3.68%
    30 Year 58 $10,420,000 $179,655 $1,297 3.57%
    10 Year 20 $1,850,000 $92,500 $0 3.58%
    5 Year 4 $90,000 $22,500 $0 3.38%

    For 2020, Alcoa Tenn Federal Credit Union's most frequently cited loan duration was 15 Year, with 96 originations. The 2nd most popular length was 30 Year, with 58 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 84 $12,000,000 $142,857
    $<1k 66 $4,120,000 $62,424
    $2k-3k 21 $4,985,000 $237,381
    $3k-4k 6 $2,020,000 $336,667
    $5k+ 1 $575,000 $575,000

    Alcoa Tenn Federal Credit Union's average total fees were $1,297, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 84 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 71 $9,335,000 $131,479
    3-4% 65 $10,175,000 $156,538
    4-5% 24 $3,080,000 $128,333
    6-7% 9 $445,000 $49,444
    5-6% 7 $585,000 $83,571
    7-8% 2 $80,000 $40,000

    During 2020, Alcoa Tenn Federal Credit Union's average interest rate for loans was 3.57%, while their most frequently originated rate bucket for loans was 2.5-3%, with 71 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 85 $12,095,000 $142,294 $1,276 3.36%
    $100,000 or less 63 $3,585,000 $56,905 $624 4.06%
    $200k-400k 28 $7,040,000 $251,429 $2,303 3.49%
    $400k-600k 2 $980,000 $490,000 $0 3.45%

    2020 saw Alcoa Tenn Federal Credit Union place emphasis on $100k-200k loans with 85 originations, totaling $12,095,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 55 $5,085,000 $92,455 $340 3.47%
    $50k-75k 49 $6,525,000 $133,163 $1,462 3.47%
    $75k-100k 40 $5,420,000 $135,500 $548 3.71%
    $100k-150k 21 $3,475,000 $165,476 $970 4.01%
    $150k-250k 11 $2,465,000 $224,091 $0 3.73%
    $250k+ 2 $730,000 $365,000 $1,930 5.45%

    Alcoa Tenn Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 55 originations. The second most popular income band? $50k-75k, with 49 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 45 $5,805,000 $129,000 $773 3.78%
    30-36% 34 $4,080,000 $120,000 $483 3.66%
    <20% 14 $1,670,000 $119,286 $0 3.19%
    41% 10 $1,210,000 $121,000 $0 3.69%
    40% 10 $1,740,000 $174,000 $474 3.98%
    38% 9 $955,000 $106,111 $1,393 3.93%
    36% 9 $1,665,000 $185,000 $1,930 3.90%
    45% 8 $1,070,000 $133,750 $0 3.17%
    39% 7 $895,000 $127,857 $0 3.30%
    43% 6 $890,000 $148,333 $0 3.23%
    42% 6 $1,010,000 $168,333 $0 3.44%
    49% 5 $635,000 $127,000 $0 3.26%
    37% 5 $715,000 $143,000 $2,303 3.57%
    44% 4 $500,000 $125,000 $0 4.05%
    46% 4 $440,000 $110,000 $0 3.32%
    48% 2 $420,000 $210,000 $0 3.55%

    Alcoa Tenn Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 45 originations. The next most common DTI ratio? 30-36%, with 34 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 163 $21,325,000 $130,828 $927 3.65%
    Not provided 12 $2,090,000 $174,167 $0 3.50%
    Black 2 $220,000 $110,000 $0 2.75%
    American Indian 1 $65,000 $65,000 $0 3.45%

    Approval Rates

    Total approvals of all applications
    93.07%

    Alcoa Tenn Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    81.46%

    Alcoa Tenn Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 178 $23,700,000 $133,146

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $75,000 $75,000
    Single Family (1-4 Units):Site-Built 177 $23,625,000 $133,475

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 27 $2,115,000 $78,333 $1,178 3.58%
    40-60% 34 $4,500,000 $132,353 $1,609 3.33%
    60-80% 76 $13,370,000 $175,921 $1,297 3.46%
    80-100% 19 $2,945,000 $155,000 $0 3.47%
    Under 20% 22 $770,000 $35,000 $565 4.87%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    ALL WESTERN MORTGAGE Conventional home mortgage Closing on a mortgage 1 100.0%