Ascend Federal Credit Union Mortgage Rates, Fees & Info

Tullahoma, TN

LEI: 549300E1PJPTI4YS7H26

Tax ID: 62-0527850

5 stars - Updated: 12/2/24 - out of 5 stars, based on 42 reviews

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

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Mortgage Data

Review & Overview

Ascend Federal Credit Union is a smaller credit union specializing in Home Purchase loans. Ascend Federal Credit Union 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.) Their top markets by origination volume include: Nashville, Tullahoma, Shelbyville, Lewisburg, and Clarksville among others. We have data for 34 markets. (Some data included below & more in-depth data is available with an active subscription.)

Ascend Federal Credit Union 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. Ascend 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 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.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.27% 12/2/24
30 Year Conventional Purchase 6.25% 12/2/24
30 Year Conventional Refi 6.26% 12/2/24
30 Year Cash-out Refi 6.54% 12/2/24
30 Year FHA Purchase 7.16% 12/2/24
30 Year VA Purchase 5.90% 12/2/24
15 Year Conventional Purchase 5.70% 12/2/24
15 Year Conventional Refi 5.69% 12/2/24
15 Year Cash-out Refi 5.69% 12/2/24
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.

Ascend 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 Ascend 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

1,769

Origination Dollar Volume (All Markets)

$275,755,000
Show all (11) awards

Relative Rate

Ascend Federal Credit Union's average 30 year fixed mortgage rate was 6.28%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.2%.

Relative Fees (Closing Costs)

Ascend Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $3,449.

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) 1,182 $188,970,000 $159,873 $2,588 7.80%
Tullahoma-Manchester, TN (FHA|USDA|VA) 247 $33,515,000 $135,688 $2,163 7.67%
Shelbyville, TN (FHA|USDA|VA) 87 $12,135,000 $139,483 $2,304 7.90%
Outside of Metro Areas 79 $11,565,000 $146,392 $2,668 7.41%
Lewisburg, TN (FHA|USDA|VA) 49 $6,835,000 $139,490 $2,596 7.73%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 16 $3,060,000 $191,250 $2,610 7.45%
Cookeville, TN (FHA|USDA|VA) 27 $2,605,000 $96,481 $1,962 7.85%
McMinnville, TN (FHA|USDA|VA) 23 $2,445,000 $106,304 $2,168 7.78%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 4 $2,270,000 $567,500 $6,660 5.69%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 8 $2,150,000 $268,750 $3,110 6.38%
HUNTSVILLE, AL (FHA|USDA|VA) 5 $2,015,000 $403,000 $3,799 6.00%
Lawrenceburg, TN (FHA|USDA|VA) 13 $1,585,000 $121,923 $2,673 7.59%
JOHNSON CITY, TN (FHA|USDA|VA) 2 $550,000 $275,000 $3,206 6.63%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $510,000 $255,000 $3,377 6.44%
DECATUR, AL (FHA|USDA|VA) 2 $470,000 $235,000 $3,172 5.81%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 2 $460,000 $230,000 $2,657 6.06%
BOWLING GREEN, KY (FHA|USDA|VA) 2 $460,000 $230,000 $2,775 6.50%
KNOXVILLE, TN (FHA|USDA|VA) 2 $420,000 $210,000 $3,059 7.81%
DOTHAN, AL (FHA|USDA|VA) 1 $415,000 $415,000 $3,777 6.88%
Sevierville, TN (FHA|USDA|VA) 1 $375,000 $375,000 $4,682 6.38%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 2 $350,000 $175,000 $5,348 6.06%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $335,000 $335,000 $4,659 6.13%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $325,000 $325,000 $4,775 5.63%
TUSCALOOSA, AL (FHA|USDA|VA) 1 $305,000 $305,000 $3,235 5.13%
MOBILE, AL (FHA|USDA|VA) 1 $295,000 $295,000 $3,370 5.63%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $255,000 $255,000 $4,107 5.63%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $215,000 $215,000 $3,792 5.63%
THE VILLAGES, FL (FHA|USDA|VA) 1 $215,000 $215,000 $3,895 5.63%
Scottsboro, AL (FHA|USDA|VA) 1 $195,000 $195,000 $2,495 5.63%
Dayton, TN (FHA|USDA|VA) 1 $165,000 $165,000 $1,649 7.63%
PANAMA CITY, FL (FHA|USDA|VA) 1 $155,000 $155,000 $6,449 6.50%
Paris, TN (FHA|USDA|VA) 1 $65,000 $65,000 $1,864 8.50%
Crossville, TN (FHA|USDA|VA) 1 $55,000 $55,000 $2,227 5.88%
JACKSON, TN (FHA|USDA|VA) 1 $15,000 $15,000 $0 8.50%
Ascend Federal Credit Union's top markets include Nashville, Tullahoma, Shelbyville, Lewisburg, and Clarksville among others.

Their top states include:
  • Tennessee (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 899 $73,325,000 $81,563 n/a 8.51%
    Conventional 861 $200,015,000 $232,305 $2,521 6.91%
    FHA 5 $955,000 $191,000 $6,896 6.33%
    VA 4 $1,460,000 $365,000 $4,654 6.72%

    For 2023, Ascend Federal Credit Union's most frequently originated type of loan was HELOC, with 899 originations. Their 2nd most popular type was Conventional, with 861 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 460 $35,850,000 $77,935 $0 8.57%
    Home Purchase 417 $144,415,000 $346,319 $3,696 6.33%
    Cash Out Refi 392 $36,830,000 $93,954 $1,409 7.67%
    Home Improvement 378 $30,350,000 $80,291 $0 8.44%
    Refi 122 $28,310,000 $232,049 $3,006 7.30%

    For 2023, Ascend Federal Credit Union's most frequently cited loan purpose was Other, with 460 originations. The 2nd most popular reason was Home Purchase, with 417 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 912 $75,740,000 $83,048 $2,905 8.47%
    30 Year 465 $150,405,000 $323,452 $3,449 6.28%
    10 Year 212 $12,550,000 $59,198 $883 8.41%
    15 Year 112 $31,760,000 $283,571 $3,100 6.51%
    5 Year 32 $1,430,000 $44,688 $839 7.30%
    Other 30 $3,170,000 $105,667 $856 7.60%
    3 Year 5 $255,000 $51,000 $957 7.33%
    1 Year 1 $445,000 $445,000 $8,809 5.38%

    For 2023, Ascend Federal Credit Union's most frequently cited loan duration was 20 Year, with 912 originations. The 2nd most popular length was 30 Year, with 465 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 780 $171,350,000 $219,679
    $1k-2k 19 $4,285,000 $225,526
    $2k-3k 8 $2,400,000 $300,000
    $3k-4k 3 $1,375,000 $458,333
    $5k+ 2 $700,000 $350,000

    Ascend Federal Credit Union's average total fees were $3,449, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 780 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 820 $61,270,000 $74,720
    7-8% 428 $49,790,000 $116,332
    6-7% 291 $87,015,000 $299,021
    5-6% 224 $75,920,000 $338,929
    4-5% 6 $1,760,000 $293,333

    During 2023, Ascend Federal Credit Union's average interest rate for loans was 6.28%, while their most frequently originated rate bucket for loans was Over 8%, with 820 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 918 $47,920,000 $52,200 $1,064 8.38%
    $200k-400k 365 $103,545,000 $283,685 $3,400 6.63%
    $100k-200k 354 $47,620,000 $134,520 $2,402 7.77%
    $400k-600k 92 $43,700,000 $475,000 $4,215 6.11%
    $600k-1MM 36 $27,310,000 $758,611 $4,720 5.94%
    $1MM+ 4 $5,660,000 $1,415,000 $6,223 6.16%

    2023 saw Ascend Federal Credit Union place emphasis on $100,000 or less loans with 918 originations, totaling $47,920,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 505 $77,585,000 $153,634 $2,674 7.79%
    $50k-75k 353 $37,735,000 $106,898 $2,214 7.80%
    $75k-100k 328 $42,570,000 $129,787 $2,330 7.77%
    $150k-250k 277 $56,125,000 $202,617 $2,947 7.58%
    $50k or less 147 $10,265,000 $69,830 $2,074 7.95%
    $250k+ 88 $30,360,000 $345,000 $4,071 7.26%

    Ascend Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 505 originations. The second most popular income band? $50k-75k, with 353 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 305 $46,005,000 $150,836 $2,682 7.63%
    20-30% 274 $45,160,000 $164,818 $3,066 7.55%
    44% 167 $13,595,000 $81,407 $1,177 8.54%
    43% 130 $14,960,000 $115,077 $2,012 8.34%
    42% 126 $21,740,000 $172,540 $2,401 7.66%
    39% 99 $16,685,000 $168,535 $2,528 7.48%
    40% 95 $15,845,000 $166,789 $2,569 7.63%
    <20% 93 $11,345,000 $121,989 $2,503 7.38%
    41% 86 $13,150,000 $152,907 $2,213 7.68%
    37% 79 $14,795,000 $187,278 $3,007 7.46%
    38% 75 $12,945,000 $172,600 $2,543 7.59%
    45% 70 $5,110,000 $73,000 $988 8.41%
    36% 68 $13,550,000 $199,265 $2,935 7.46%
    46% 12 $1,350,000 $112,500 $2,010 8.11%
    47% 6 $950,000 $158,333 $4,642 8.06%
    >60% 6 $1,800,000 $300,000 $3,421 7.13%
    48% 5 $1,255,000 $251,000 $2,222 6.98%
    49% 3 $145,000 $48,333 $0 8.67%
    50-60% 2 $420,000 $210,000 $1,265 7.44%

    Ascend Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 305 originations. The next most common DTI ratio? 20-30%, with 274 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,379 $197,505,000 $143,223 $2,500 7.77%
    Not provided 172 $35,580,000 $206,860 $2,780 7.36%
    Not applicable 37 $16,655,000 $450,135 $0 6.79%
    Black 129 $14,555,000 $112,829 $2,547 8.16%
    Asian 40 $9,890,000 $247,250 $3,472 7.21%
    American Indian 8 $960,000 $120,000 $2,349 8.02%
    Native Hawaiian or Islander 3 $545,000 $181,667 $2,748 7.38%
    Filipino 1 $65,000 $65,000 $0 8.50%

    Approval Rates

    Total approvals of all applications
    78.63%

    Ascend Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    68.00%

    Ascend Federal Credit Union 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
    333.0 1 $55,000 $55,000
    NA 1,768 $275,700,000 $155,939

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,769 $275,755,000 $155,882

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 433 $46,055,000 $106,363 $1,760 8.15%
    40-60% 121 $22,115,000 $182,769 $3,043 7.21%
    60-80% 143 $46,065,000 $322,133 $3,450 6.58%
    80-100% 334 $119,580,000 $358,024 $3,598 6.38%
    Over 100% 5 $1,945,000 $389,000 $3,068 6.83%
    Under 20% 733 $39,995,000 $54,563 $954 8.40%