Ornl Federal Credit Union Mortgage Rates, Fees & Info

Oak Ridge, TN

LEI: 549300K6L4VXCXWN4205

Tax ID: 62-0476738

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
  • Similar Lenders
  • 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

    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, Athens, and Chattanooga among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Ornl 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. Ornl 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.

    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% 12/16/24
    30 Year Conventional Purchase 6.38% 12/16/24
    30 Year Conventional Refi 6.39% 12/16/24
    30 Year Cash-out Refi 6.62% 12/16/24
    15 Year Conventional Purchase 5.68% 12/16/24
    15 Year Conventional Refi 5.90% 12/16/24
    15 Year Cash-out Refi 5.90% 12/16/24
    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

    2,065

    Origination Dollar Volume (All Markets)

    $321,015,000
    Show all (5) awards

    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) 1,689 $268,295,000 $158,848 $4,592 4.32%
    MORRISTOWN, TN (FHA|USDA|VA) 139 $20,745,000 $149,245 $4,426 4.22%
    Outside of Metro Areas 114 $12,760,000 $111,930 $4,083 4.27%
    Sevierville, TN (FHA|USDA|VA) 59 $8,055,000 $136,525 $4,349 4.17%
    Athens, TN (FHA|USDA|VA) 20 $3,320,000 $166,000 $4,585 4.21%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 10 $1,990,000 $199,000 $5,305 3.75%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 7 $1,805,000 $257,857 $5,563 3.54%
    Newport, TN (FHA|USDA|VA) 6 $1,070,000 $178,333 $4,812 3.67%
    Crossville, TN (FHA|USDA|VA) 8 $860,000 $107,500 $3,204 3.96%
    Dayton, TN (FHA|USDA|VA) 3 $605,000 $201,667 $4,883 4.06%
    Greeneville, TN (FHA|USDA|VA) 3 $435,000 $145,000 $3,587 4.65%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 2 $350,000 $175,000 $4,881 3.13%
    Cookeville, TN (FHA|USDA|VA) 1 $255,000 $255,000 $2,946 4.25%
    Tullahoma-Manchester, TN (FHA|USDA|VA) 1 $205,000 $205,000 $4,731 3.75%
    JOHNSON CITY, TN (FHA|USDA|VA) 1 $195,000 $195,000 $4,647 3.00%
    KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 2 $70,000 $35,000 $0 5.75%
    Ornl Federal Credit Union's top markets include Knoxville, Morristown, Sevierville, Athens, and Chattanooga among others.

    Their top states include:
  • Tennessee (FHA|USDA|VA)
  • (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: 24
    ENRICHMENT
    Similarity Rank: 176
    Home Federal Bank of Tennessee
    Similarity Rank: 570
    CU COMMUNITY, LLC
    Similarity Rank: 840
    Y-12 Federal Credit Union
    Similarity Rank: 915
    KNOXVILLE TVA EMPLOYEES CREDIT UNION
    Similarity Rank: 1313
    U. T.
    Similarity Rank: 1344
    Community Trust Bank, Inc.
    Similarity Rank: 1617
    ORNL Federal Credit Union
    Similarity Rank: 1728
    A Mortgage Boutique, LLC
    Similarity Rank: 1808

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,508 $284,630,000 $188,747 $4,545 3.73%
    HELOC 557 $36,385,000 $65,323 n/a 5.84%

    For 2019, Ornl Federal Credit Union's most frequently originated type of loan was Conventional, with 1,508 originations. Their 2nd most popular type was HELOC, with 557 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 858 $180,450,000 $210,315 $4,986 3.72%
    Other 392 $33,220,000 $84,745 $3,563 5.60%
    Cash Out Refi 321 $56,675,000 $176,558 $4,224 3.55%
    Home Improvement 267 $15,355,000 $57,509 $2,348 5.69%
    Refi 212 $34,190,000 $161,274 $3,984 3.52%
    NA 15 $1,125,000 $75,000 $0 6.02%

    For 2019, Ornl Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 858 originations. The 2nd most popular reason was Other, with 392 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 733 $143,375,000 $195,600 $4,611 3.71%
    Other 562 $48,790,000 $86,815 $4,937 5.56%
    15 Year 290 $42,730,000 $147,345 $4,018 3.25%
    20 Year 203 $30,955,000 $152,488 $3,982 4.12%
    10 Year 174 $19,050,000 $109,483 $3,438 4.76%
    30+ year 79 $31,075,000 $393,354 $8,096 3.89%
    5 Year 17 $2,035,000 $119,706 $1,749 5.31%
    1 Year 7 $3,005,000 $429,286 $0 5.34%

    For 2019, Ornl Federal Credit Union's most frequently cited loan duration was 30 Year, with 733 originations. The 2nd most popular length was Other, with 562 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 466 $72,280,000 $155,107
    $1k-2k 330 $27,060,000 $82,000
    $3k-4k 264 $62,280,000 $235,909
    $<1k 197 $32,495,000 $164,949
    $4k-5k 114 $36,160,000 $317,193
    $5k+ 99 $44,635,000 $450,859

    Ornl Federal Credit Union's average total fees were $4,611, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 466 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 842 $170,050,000 $201,960
    5-6% 372 $31,160,000 $83,763
    4-5% 353 $58,805,000 $166,586
    2.5-3% 250 $42,600,000 $170,400
    6-7% 148 $7,610,000 $51,419
    7-8% 63 $4,315,000 $68,492
    <2.5% 31 $5,225,000 $168,548

    During 2019, Ornl Federal Credit Union's average interest rate for loans was 3.71%, while their most frequently originated rate bucket for loans was 3-4%, with 842 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 826 $45,230,000 $54,758 $2,899 5.04%
    $100k-200k 679 $98,495,000 $145,059 $4,123 3.92%
    $200k-400k 468 $125,280,000 $267,692 $5,685 3.66%
    $400k-600k 73 $34,685,000 $475,137 $7,986 3.67%
    $600k-1MM 15 $10,685,000 $712,333 $9,820 4.01%
    $1MM+ 4 $6,640,000 $1,660,000 $13,204 4.36%

    2019 saw Ornl Federal Credit Union place emphasis on $100,000 or less loans with 826 originations, totaling $45,230,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 582 $60,960,000 $104,742 $3,533 4.07%
    $50k-75k 459 $57,495,000 $125,261 $4,197 4.40%
    $100k-150k 393 $72,805,000 $185,254 $5,323 4.41%
    $75k-100k 359 $56,005,000 $156,003 $4,726 4.32%
    $150k-250k 198 $48,730,000 $246,111 $6,379 4.43%
    $250k+ 50 $16,540,000 $330,800 $6,825 4.29%

    Ornl Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 582 originations. The second most popular income band? $50k-75k, with 459 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 440 $66,510,000 $151,159 $4,711 4.21%
    30-36% 357 $52,825,000 $147,969 $4,686 4.39%
    <20% 336 $52,210,000 $155,387 $4,418 3.93%
    >60% 100 $18,290,000 $182,900 $2,722 3.65%
    44% 85 $10,845,000 $127,588 $4,590 4.87%
    43% 79 $10,405,000 $131,709 $4,904 4.66%
    40% 79 $11,055,000 $139,937 $4,696 4.70%
    39% 73 $11,285,000 $154,589 $4,564 4.47%
    36% 70 $8,820,000 $126,000 $4,400 4.61%
    41% 68 $10,740,000 $157,941 $4,947 4.35%
    38% 62 $10,680,000 $172,258 $4,758 4.17%
    42% 61 $9,365,000 $153,525 $4,862 4.65%
    37% 51 $7,785,000 $152,647 $4,924 4.64%
    45% 39 $6,085,000 $156,026 $5,147 4.71%
    46% 33 $5,515,000 $167,121 $4,608 4.11%
    47% 32 $6,960,000 $217,500 $5,130 4.14%
    50-60% 27 $5,765,000 $213,519 $4,100 4.18%
    49% 23 $3,805,000 $165,435 $4,368 4.06%
    48% 20 $3,640,000 $182,000 $5,048 4.15%

    Ornl Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 440 originations. The next most common DTI ratio? 30-36%, with 357 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,763 $272,265,000 $154,433 $4,500 4.26%
    Not provided 182 $21,350,000 $117,308 $4,874 4.84%
    Asian 45 $10,525,000 $233,889 $5,226 3.28%
    Not applicable 16 $7,200,000 $450,000 $0 5.37%
    Black 45 $6,645,000 $147,667 $4,302 4.18%
    American Indian 6 $1,350,000 $225,000 $5,249 4.29%
    Chinese 2 $570,000 $285,000 $8,026 4.38%
    Asian Indian 2 $500,000 $250,000 $5,532 3.81%
    Korean 2 $470,000 $235,000 $6,665 3.63%
    Other Asian 1 $85,000 $85,000 $0 5.75%
    Other Pacific Islander 1 $55,000 $55,000 $0 5.75%

    Approval Rates

    Total approvals of all applications
    89.47%

    Ornl Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    68.43%

    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 $140,000 $70,000
    175.0 4 $130,000 $32,500
    NA 2,059 $320,745,000 $155,777

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $265,000 $265,000
    Multifamily:Site-Built 10 $6,480,000 $648,000
    Single Family (1-4 Units):Manufactured 56 $3,840,000 $68,571
    Single Family (1-4 Units):Site-Built 1,998 $310,430,000 $155,370

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 312 $22,820,000 $73,141 $2,990 5.15%
    40-60% 251 $34,145,000 $136,036 $4,017 3.83%
    60-80% 489 $98,005,000 $200,419 $4,866 3.83%
    80-100% 707 $151,645,000 $214,491 $4,956 3.77%
    Over 100% 2 $150,000 $75,000 $1,967 4.87%
    Under 20% 299 $13,795,000 $46,137 $1,556 5.83%