Ornl Federal Credit Union Mortgage Rates, Fees & Info

Oak Ridge, TN

LEI: 549300K6L4VXCXWN4205

Tax ID: 62-0476738

5 stars - Updated: 12/4/24 - out of 5 stars, based on 43 reviews

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

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Mortgage Data

Review & Overview

Ornl Federal Credit Union is a smaller credit union specializing in Home Purchase loans. Ornl Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Knoxville, Morristown, Sevierville, Crossville, and Chattanooga among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)

Ornl 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. Ornl Federal Credit Union 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.

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) 2.61% 12/4/24
30 Year Conventional Purchase 6.38% 12/4/24
30 Year Conventional Refi 6.39% 12/4/24
30 Year Cash-out Refi 6.62% 12/4/24
15 Year Conventional Purchase 5.68% 12/4/24
15 Year Conventional Refi 5.90% 12/4/24
15 Year Cash-out Refi 5.90% 12/4/24
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.

Ornl 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 Ornl 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

1,822

Origination Dollar Volume (All Markets)

$438,890,000
Show all (7) awards

Relative Rate

Ornl Federal Credit Union's average 30 year fixed mortgage rate was 5.89%.

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

This yields a difference of -0.59%.

Relative Fees (Closing Costs)

Ornl Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $5,199.

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
KNOXVILLE, TN (FHA|USDA|VA) 1,479 $358,625,000 $242,478 $5,147 7.47%
MORRISTOWN, TN (FHA|USDA|VA) 110 $28,090,000 $255,364 $5,212 6.83%
Outside of Metro Areas 89 $17,165,000 $192,865 $4,695 6.87%
Sevierville, TN (FHA|USDA|VA) 68 $17,110,000 $251,618 $5,697 7.16%
Crossville, TN (FHA|USDA|VA) 14 $2,860,000 $204,286 $4,252 5.93%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 7 $2,835,000 $405,000 $5,230 6.22%
JACKSON, TN (FHA|USDA|VA) 1 $2,505,000 $2,505,000 $0 6.25%
Athens, TN (FHA|USDA|VA) 15 $2,455,000 $163,667 $4,574 7.56%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 7 $2,435,000 $347,857 $4,967 7.15%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 8 $1,450,000 $181,250 $4,411 6.92%
Dayton, TN (FHA|USDA|VA) 8 $770,000 $96,250 $3,583 7.27%
Greeneville, TN (FHA|USDA|VA) 5 $725,000 $145,000 $3,427 7.26%
CLEVELAND, TN (FHA|USDA|VA) 2 $510,000 $255,000 $3,825 4.70%
JOHNSON CITY, TN (FHA|USDA|VA) 3 $485,000 $161,667 $3,698 6.92%
London, KY (FHA|USDA|VA) 2 $370,000 $185,000 $3,505 6.31%
Cookeville, TN (FHA|USDA|VA) 1 $245,000 $245,000 $5,531 6.50%
Newport, TN (FHA|USDA|VA) 2 $170,000 $85,000 $3,590 7.51%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $85,000 $85,000 $3,670 6.75%
Ornl Federal Credit Union's top markets include Knoxville, Morristown, Sevierville, Crossville, and Chattanooga among others.

Their top states include:
  • Tennessee (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against ORNL Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    CONSUMER Credit Union
    Similarity Rank: 48
    SouthEast Bank
    Similarity Rank: 68
    ENRICHMENT
    Similarity Rank: 230
    Home Federal Bank of Tennessee
    Similarity Rank: 282
    ORNL Federal Credit Union
    Similarity Rank: 612
    Countybank
    Similarity Rank: 648
    Community Trust Bank, Inc.
    Similarity Rank: 648
    Y-12 Federal Credit Union
    Similarity Rank: 784
    SmartBank
    Similarity Rank: 1288
    KNOXVILLE TVA EMPLOYEES CREDIT UNION
    Similarity Rank: 1408

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,048 $354,730,000 $338,483 $5,104 5.91%
    HELOC 774 $84,160,000 $108,734 n/a 9.32%

    For 2023, Ornl Federal Credit Union's most frequently originated type of loan was Conventional, with 1,048 originations. Their 2nd most popular type was HELOC, with 774 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 814 $293,610,000 $360,700 $5,359 5.96%
    Home Improvement 537 $64,555,000 $120,214 $4,347 8.94%
    Cash Out Refi 425 $63,195,000 $148,694 $4,150 8.22%
    Refi 45 $13,565,000 $301,444 $4,217 5.74%
    Other 1 $3,965,000 $3,965,000 $0 6.76%

    For 2023, Ornl Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 814 originations. The 2nd most popular reason was Home Improvement, with 537 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 942 $323,370,000 $343,280 $5,199 5.89%
    20 Year 813 $91,305,000 $112,306 $4,229 9.16%
    15 Year 46 $8,320,000 $180,870 $4,289 6.14%
    10 Year 10 $1,140,000 $114,000 $3,716 5.55%
    5 Year 8 $14,060,000 $1,757,500 $0 6.76%
    Other 3 $695,000 $231,667 $2,631 6.17%

    For 2023, Ornl Federal Credit Union's most frequently cited loan duration was 30 Year, with 942 originations. The 2nd most popular length was 20 Year, with 813 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 619 $173,375,000 $280,089
    $2k-3k 203 $52,765,000 $259,926
    $3k-4k 102 $43,580,000 $427,255
    $5k+ 54 $43,280,000 $801,481
    $4k-5k 41 $23,245,000 $566,951
    $<1k 20 $4,130,000 $206,500

    Ornl Federal Credit Union's average total fees were $5,199, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 619 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 662 $72,370,000 $109,320
    5-6% 393 $130,995,000 $333,321
    6-7% 388 $139,320,000 $359,072
    7-8% 194 $32,900,000 $169,588
    4-5% 184 $63,230,000 $343,641
    3-4% 1 $75,000 $75,000

    During 2023, Ornl Federal Credit Union's average interest rate for loans was 5.89%, while their most frequently originated rate bucket for loans was Over 8%, with 662 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 587 $163,685,000 $278,850 $4,641 6.49%
    $100,000 or less 479 $29,045,000 $60,637 $3,224 9.00%
    $100k-200k 474 $67,420,000 $142,236 $3,763 7.71%
    $400k-600k 187 $91,095,000 $487,139 $6,291 5.82%
    $600k-1MM 81 $59,825,000 $738,580 $9,097 5.70%
    $1MM+ 14 $27,820,000 $1,987,143 $14,798 6.06%

    2023 saw Ornl Federal Credit Union place emphasis on $200k-400k loans with 587 originations, totaling $163,685,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 477 $116,925,000 $245,126 $5,223 7.49%
    $75k-100k 348 $64,340,000 $184,885 $4,503 7.40%
    $50k-75k 342 $51,970,000 $151,959 $4,084 7.42%
    $150k-250k 334 $107,820,000 $322,814 $6,152 7.32%
    $50k or less 188 $19,480,000 $103,617 $3,481 7.33%
    $250k+ 110 $58,820,000 $534,727 $8,593 6.74%

    Ornl Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 477 originations. The second most popular income band? $75k-100k, with 348 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 401 $88,515,000 $220,736 $4,968 7.24%
    30-36% 383 $90,475,000 $236,227 $4,931 7.21%
    <20% 158 $30,520,000 $193,165 $4,358 7.19%
    44% 145 $21,565,000 $148,724 $5,609 8.79%
    42% 82 $19,580,000 $238,780 $4,687 7.09%
    40% 80 $19,950,000 $249,375 $4,952 7.07%
    38% 78 $20,670,000 $265,000 $5,612 7.39%
    37% 73 $19,325,000 $264,726 $5,110 7.37%
    36% 71 $16,905,000 $238,099 $5,430 7.38%
    43% 71 $15,165,000 $213,592 $5,496 8.16%
    39% 67 $16,755,000 $250,075 $4,931 7.04%
    41% 65 $17,155,000 $263,923 $5,394 7.41%
    45% 27 $6,755,000 $250,185 $5,232 6.88%
    >60% 26 $6,580,000 $253,077 $3,872 7.73%
    49% 20 $10,860,000 $543,000 $8,115 6.38%
    46% 19 $8,315,000 $437,632 $7,543 6.65%
    48% 18 $5,610,000 $311,667 $5,367 6.79%
    47% 17 $6,225,000 $366,176 $6,006 6.36%
    50-60% 12 $3,500,000 $291,667 $5,368 7.19%

    Ornl Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 401 originations. The next most common DTI ratio? 30-36%, with 383 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,470 $338,080,000 $229,986 $5,084 7.40%
    Not provided 250 $63,150,000 $252,600 $5,280 7.12%
    Asian 45 $14,855,000 $330,111 $5,301 6.67%
    Not applicable 7 $13,965,000 $1,995,000 $0 6.94%
    Black 40 $6,330,000 $158,250 $4,266 7.88%
    American Indian 10 $2,510,000 $251,000 $4,484 8.26%

    Approval Rates

    Total approvals of all applications
    94.34%

    Ornl Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    69.76%

    Ornl 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
    0.0 2 $290,000 $145,000
    159.0 2 $180,000 $90,000
    171.46 1 $45,000 $45,000
    183.92 2 $70,000 $35,000
    188.92 1 $125,000 $125,000
    23.31 1 $65,000 $65,000
    334.0 1 $165,000 $165,000
    346.46 1 $35,000 $35,000
    358.92 1 $155,000 $155,000
    409.0 179 $16,425,000 $91,760
    4117.0 1 $155,000 $155,000
    421.46 30 $3,460,000 $115,333
    421.49 1 $105,000 $105,000
    423.31 2 $180,000 $90,000
    433.46 1 $105,000 $105,000
    433.92 31 $2,875,000 $92,742
    433.96 6 $650,000 $108,333
    437.62 7 $665,000 $95,000
    441.1 1 $225,000 $225,000
    445.5 1 $35,000 $35,000
    459.0 1 $65,000 $65,000
    466.46 110 $11,320,000 $102,909
    468.46 1 $105,000 $105,000
    471.46 14 $1,760,000 $125,714
    478.92 130 $14,560,000 $112,000
    483.92 16 $2,090,000 $130,625
    509.0 1 $95,000 $95,000
    518.41 1 $255,000 $255,000
    521.41 11 $805,000 $73,182
    521.46 1 $45,000 $45,000
    526.87 1 $105,000 $105,000
    533.87 12 $1,140,000 $95,000
    571.46 1 $45,000 $45,000
    580.87 1 $55,000 $55,000
    582.82 1 $65,000 $65,000
    588.82 2 $380,000 $190,000
    590.92 1 $205,000 $205,000
    596.46 1 $75,000 $75,000
    684.0 64 $8,090,000 $126,406
    696.46 37 $3,865,000 $104,459
    698.31 2 $340,000 $170,000
    701.46 3 $385,000 $128,333
    708.92 67 $8,995,000 $134,254
    708.96 3 $305,000 $101,667
    712.62 1 $75,000 $75,000
    713.92 4 $780,000 $195,000
    751.41 3 $235,000 $78,333
    760.87 1 $145,000 $145,000
    763.87 5 $465,000 $93,000
    778.92 1 $225,000 $225,000
    809.0 1 $255,000 $255,000
    818.82 1 $105,000 $105,000
    833.92 1 $205,000 $205,000
    871.38 1 $85,000 $85,000
    909.0 1 $255,000 $255,000
    926.46 1 $255,000 $255,000
    NA 1,047 $354,645,000 $338,725

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,822 $438,890,000 $240,884

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 415 $53,335,000 $128,518 $3,868 8.69%
    40-60% 240 $51,570,000 $214,875 $4,772 7.10%
    60-80% 347 $130,475,000 $376,009 $5,839 6.12%
    80-100% 497 $176,385,000 $354,899 $4,966 5.98%
    Under 20% 323 $27,125,000 $83,978 $3,089 9.29%