Ornl Federal Credit Union Mortgage Rates, Fees & Info

Oak Ridge, TN

LEI: 549300K6L4VXCXWN4205

Tax ID: 62-0476738

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Mortgage Data

Review & Overview

Ornl Federal Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. Ornl Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Knoxville, Morristown, Sevierville, Nashville, and Newport 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 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 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 2.61% 3/28/24
30 Year Conventional Purchase 6.38% 3/28/24
30 Year Conventional Refi 6.39% 3/28/24
30 Year Cash-out Refi 6.62% 3/28/24
15 Year Conventional Purchase 5.68% 3/28/24
15 Year Conventional Refi 5.90% 3/28/24
15 Year Cash-out Refi 5.90% 3/28/24
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

2,339

Origination Dollar Volume (All Markets)

$413,855,000

Awards

ORNL Federal Credit Union 30 Year Conventional Loans bronze ORNL Federal Credit Union 30 Year Conventional Loans gold
Show all (2) 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) 1,929 $344,885,000 $178,790 $4,874 3.35%
MORRISTOWN, TN (FHA|USDA|VA) 136 $23,370,000 $171,838 $4,635 3.32%
Outside of Metro Areas 109 $15,255,000 $139,954 $4,235 3.39%
Sevierville, TN (FHA|USDA|VA) 68 $11,590,000 $170,441 $4,537 3.41%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 19 $4,125,000 $217,105 $5,085 3.20%
Newport, TN (FHA|USDA|VA) 14 $2,190,000 $156,429 $4,665 3.00%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 7 $2,115,000 $302,143 $6,630 3.75%
Athens, TN (FHA|USDA|VA) 15 $2,015,000 $134,333 $3,319 3.37%
Crossville, TN (FHA|USDA|VA) 14 $1,850,000 $132,143 $4,166 3.21%
JOHNSON CITY, TN (FHA|USDA|VA) 2 $1,650,000 $825,000 $8,768 3.13%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 11 $1,635,000 $148,636 $4,706 3.40%
CLEVELAND, TN (FHA|USDA|VA) 6 $1,230,000 $205,000 $4,477 2.94%
Dayton, TN (FHA|USDA|VA) 4 $790,000 $197,500 $6,079 2.97%
Greeneville, TN (FHA|USDA|VA) 2 $490,000 $245,000 $5,813 3.00%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $345,000 $345,000 $7,563 3.00%
Tullahoma-Manchester, TN (FHA|USDA|VA) 2 $320,000 $160,000 $4,911 3.41%
Ornl Federal Credit Union's top markets include Knoxville, Morristown, Sevierville, Nashville, and Newport 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: 275
    HomeTrust Bank
    Similarity Rank: 565
    Home Federal Bank of Tennessee
    Similarity Rank: 864
    ENRICHMENT
    Similarity Rank: 1378
    F&M Bank
    Similarity Rank: 1560
    LENDERFI, INC.
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    CU COMMUNITY, LLC
    Similarity Rank: 1890
    Community Trust Bank, Inc.
    Similarity Rank: 2077
    Y-12 Federal Credit Union
    Similarity Rank: 2310
    COMMUNITY MORTGAGE CORPORATION
    Similarity Rank: 2600

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,740 $372,180,000 $213,897 $4,814 3.12%
    HELOC 599 $41,675,000 $69,574 n/a 4.01%

    For 2020, Ornl Federal Credit Union's most frequently originated type of loan was Conventional, with 1,740 originations. Their 2nd most popular type was HELOC, with 599 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 769 $194,865,000 $253,401 $5,543 3.15%
    Refi 472 $83,050,000 $175,953 $4,161 3.14%
    Home Improvement 443 $34,855,000 $78,679 $3,133 3.95%
    Cash Out Refi 397 $74,425,000 $187,469 $4,415 3.12%
    Other 258 $26,660,000 $103,333 $4,157 3.67%

    For 2020, Ornl Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 769 originations. The 2nd most popular reason was Refi, with 472 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 903 $204,735,000 $226,728 $4,795 3.15%
    20 Year 772 $72,780,000 $94,275 $4,134 3.85%
    15 Year 400 $61,410,000 $153,525 $4,033 2.85%
    30+ year 101 $48,135,000 $476,584 $8,614 3.40%
    10 Year 79 $9,095,000 $115,127 $3,359 2.82%
    Other 69 $14,955,000 $216,739 $5,477 3.56%
    5 Year 13 $2,015,000 $155,000 $0 4.42%
    1 Year 2 $730,000 $365,000 $0 3.25%

    For 2020, Ornl Federal Credit Union's most frequently cited loan duration was 30 Year, with 903 originations. The 2nd most popular length was 20 Year, with 772 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 475 $82,995,000 $174,726
    $1k-2k 465 $55,435,000 $119,215
    $3k-4k 287 $72,565,000 $252,840
    $<1k 226 $42,510,000 $188,097
    $5k+ 138 $73,640,000 $533,623
    $4k-5k 116 $38,930,000 $335,603

    Ornl Federal Credit Union's average total fees were $4,795, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 475 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 1,077 $213,575,000 $198,305
    2.5-3% 731 $139,225,000 $190,458
    4-5% 234 $19,980,000 $85,385
    <2.5% 164 $32,060,000 $195,488
    5-6% 118 $7,910,000 $67,034
    6-7% 15 $1,105,000 $73,667

    During 2020, Ornl Federal Credit Union's average interest rate for loans was 3.15%, while their most frequently originated rate bucket for loans was 3-4%, with 1,077 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 844 $123,940,000 $146,848 $4,128 3.18%
    $100,000 or less 793 $46,005,000 $58,014 $3,003 3.74%
    $200k-400k 550 $149,390,000 $271,618 $5,571 3.08%
    $400k-600k 104 $48,740,000 $468,654 $8,016 3.21%
    $600k-1MM 33 $23,725,000 $718,939 $9,260 3.47%
    $1MM+ 15 $22,055,000 $1,470,333 $14,299 3.41%

    2020 saw Ornl Federal Credit Union place emphasis on $100k-200k loans with 844 originations, totaling $123,940,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 543 $59,285,000 $109,180 $3,593 3.28%
    $50k-75k 505 $69,875,000 $138,366 $4,339 3.28%
    $100k-150k 498 $100,530,000 $201,867 $5,349 3.39%
    $75k-100k 437 $69,525,000 $159,096 $4,734 3.31%
    $150k-250k 258 $69,350,000 $268,798 $6,497 3.48%
    $250k+ 78 $41,290,000 $529,359 $9,647 3.56%

    Ornl Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 543 originations. The second most popular income band? $50k-75k, with 505 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 608 $107,740,000 $177,204 $4,868 3.26%
    30-36% 449 $77,795,000 $173,263 $4,876 3.41%
    <20% 286 $45,820,000 $160,210 $4,531 3.11%
    44% 97 $15,235,000 $157,062 $4,816 3.51%
    36% 85 $15,705,000 $184,765 $5,153 3.46%
    42% 84 $15,120,000 $180,000 $4,946 3.40%
    38% 81 $13,965,000 $172,407 $5,115 3.41%
    41% 79 $17,305,000 $219,051 $5,464 3.50%
    39% 76 $14,310,000 $188,289 $5,723 3.55%
    40% 72 $12,350,000 $171,528 $4,824 3.55%
    43% 71 $11,075,000 $155,986 $4,998 3.67%
    37% 64 $12,170,000 $190,156 $4,705 3.25%
    48% 50 $10,510,000 $210,200 $5,123 3.36%
    45% 40 $7,920,000 $198,000 $4,931 3.43%
    >60% 38 $6,490,000 $170,789 $2,843 2.91%
    49% 28 $5,510,000 $196,786 $4,821 3.47%
    46% 24 $4,870,000 $202,917 $5,195 3.45%
    47% 22 $4,040,000 $183,636 $4,816 3.12%
    50-60% 21 $5,435,000 $258,810 $4,061 3.43%

    Ornl Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 608 originations. The next most common DTI ratio? 30-36%, with 449 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,755 $336,405,000 $191,684 $4,780 3.24%
    Not provided 481 $56,815,000 $118,119 $4,987 3.72%
    Asian 34 $7,930,000 $233,235 $5,569 3.37%
    Black 39 $5,425,000 $139,103 $4,375 3.49%
    Not applicable 14 $2,840,000 $202,857 $0 4.38%
    Chinese 2 $1,200,000 $600,000 $8,250 2.69%
    American Indian 7 $1,155,000 $165,000 $5,338 3.40%
    Other Asian 2 $610,000 $305,000 $6,140 3.50%
    Japanese 1 $605,000 $605,000 $11,582 3.75%
    Asian Indian 2 $460,000 $230,000 $5,258 3.16%
    Korean 2 $410,000 $205,000 $4,666 2.75%

    Approval Rates

    Total approvals of all applications
    91.73%

    Ornl Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    56.86%

    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
    NA 2,339 $413,855,000 $176,937

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 11 $3,235,000 $294,091
    Single Family (1-4 Units):Manufactured 59 $4,895,000 $82,966
    Single Family (1-4 Units):Site-Built 2,269 $405,725,000 $178,812

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 336 $29,620,000 $88,155 $3,447 3.77%
    40-60% 352 $50,070,000 $142,244 $3,938 3.11%
    60-80% 621 $136,045,000 $219,074 $5,013 3.15%
    80-100% 718 $183,280,000 $255,265 $5,288 3.16%
    Over 100% 2 $390,000 $195,000 $4,657 3.00%
    Under 20% 306 $13,900,000 $45,425 $1,589 4.03%