Carolinas Telco Federal Credit Union Mortgage Rates, Fees & Info

Charlotte, NC

LEI: 549300MAIHYOT48UVH49

Tax ID: 56-0166559

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

Jump to:

  • 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

    Carolinas Telco Federal Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Carolinas Telco Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Charlotte, Raleigh, Columbia, Greenville, and Hickory among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Carolinas Telco 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. Carolinas Telco 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.19% 12/4/24
    30 Year Conventional Refi 6.28% 12/4/24
    15 Year Conventional Purchase 5.54% 12/4/24
    15 Year Conventional Refi 5.95% 12/4/24
    15 Year Cash-out Refi 5.95% 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.

    Carolinas Telco 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 Carolinas Telco 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

    97

    Origination Dollar Volume (All Markets)

    $22,075,000

    Awards

    CAROLINAS TELCO FEDERAL CREDIT UNION 30 Year Conventional Loans gold CAROLINAS TELCO FEDERAL CREDIT UNION 30 Year Conventional Loans silver
    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
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 62 $15,240,000 $245,806 $2,095 4.19%
    RALEIGH-CARY, NC (FHA|USDA|VA) 11 $3,225,000 $293,182 $1,731 4.03%
    COLUMBIA, SC (FHA|USDA|VA) 6 $1,140,000 $190,000 $2,078 4.19%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 5 $745,000 $149,000 $1,899 3.95%
    HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $235,000 $235,000 $1,300 4.00%
    FAYETTEVILLE, NC (FHA|USDA|VA) 1 $205,000 $205,000 $2,697 4.75%
    NEW BERN, NC (FHA|USDA|VA) 1 $165,000 $165,000 $2,257 4.38%
    Boone, NC (FHA|USDA|VA) 1 $155,000 $155,000 $1,175 3.75%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $155,000 $155,000 $1,175 4.50%
    WILMINGTON, NC (FHA|USDA|VA) 1 $145,000 $145,000 $1,300 3.50%
    Orangeburg, SC (FHA|USDA|VA) 1 $145,000 $145,000 $2,791 5.25%
    Outside of Metro Areas 2 $140,000 $70,000 $1,435 4.81%
    Union, SC (FHA|USDA|VA) 1 $135,000 $135,000 $1,300 4.25%
    Laurinburg, NC (FHA|USDA|VA) 1 $125,000 $125,000 $2,244 4.50%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $65,000 $65,000 $1,175 3.50%
    WINSTON-SALEM, NC (FHA|USDA|VA) 1 $55,000 $55,000 $1,461 3.50%
    Carolinas Telco Federal Credit Union's top markets include Charlotte, Raleigh, Columbia, Greenville, and Hickory among others.

    Their top states include:
  • North Carolina (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against CAROLINAS TELCO FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    CAROLINA TRUST FEDERAL CREDIT UNION
    Similarity Rank: 265
    CORNING
    Similarity Rank: 606
    Belmont Savings Bank, SSB
    Similarity Rank: 897
    Arrowpointe Federal Credit Union
    Similarity Rank: 1316
    Coastal Carolina National Bank
    Similarity Rank: 1888
    PIKE CREEK MORTGAGE SERVICES, INC.
    Similarity Rank: 1938
    Southern Bank and Trust Company
    Similarity Rank: 2211
    Whitley Mortgage Associates, Inc.
    Similarity Rank: 2401
    RBC Bank, (Georgia)
    Similarity Rank: 2512
    Aurora Financial, LLC
    Similarity Rank: 2555

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 97 $22,075,000 $227,577 $1,986 4.17%

    For 2019, Carolinas Telco Federal Credit Union's most frequently originated type of loan was Conventional, with 97 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 56 $9,270,000 $165,536 $1,681 4.05%
    Home Purchase 41 $12,805,000 $312,317 $2,403 4.34%

    For 2019, Carolinas Telco Federal Credit Union's most frequently cited loan purpose was Refi, with 56 originations. The 2nd most popular reason was Home Purchase, with 41 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 70 $18,330,000 $261,857 $2,145 4.36%
    15 Year 24 $3,250,000 $135,417 $1,557 3.63%
    10 Year 3 $495,000 $165,000 $1,707 4.04%

    For 2019, Carolinas Telco Federal Credit Union's most frequently cited loan duration was 30 Year, with 70 originations. The 2nd most popular length was 15 Year, with 24 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 83 $16,475,000 $198,494
    $1k-2k 11 $2,605,000 $236,818
    $2k-3k 2 $450,000 $225,000
    $5k+ 1 $2,545,000 $2,545,000

    Carolinas Telco Federal Credit Union's average total fees were $2,145, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 83 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 51 $10,775,000 $211,275
    3-4% 39 $10,275,000 $263,462
    5-6% 7 $1,025,000 $146,429

    During 2019, Carolinas Telco Federal Credit Union's average interest rate for loans was 4.36%, while their most frequently originated rate bucket for loans was 4-5%, with 51 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 51 $7,715,000 $151,275 $1,812 4.21%
    $200k-400k 26 $7,380,000 $283,846 $1,955 4.19%
    $100,000 or less 14 $990,000 $70,714 $1,653 4.10%
    $600k-1MM 3 $2,595,000 $865,000 $1,620 4.04%
    $400k-600k 2 $850,000 $425,000 $1,238 3.88%
    $1MM+ 1 $2,545,000 $2,545,000 $18,917 3.75%

    2019 saw Carolinas Telco Federal Credit Union place emphasis on $100k-200k loans with 51 originations, totaling $7,715,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 23 $4,445,000 $193,261 $1,879 4.28%
    $75k-100k 23 $4,395,000 $191,087 $1,832 4.01%
    $50k-75k 21 $2,945,000 $140,238 $1,939 4.36%
    $150k-250k 14 $5,220,000 $372,857 $1,646 3.98%
    $50k or less 14 $1,690,000 $120,714 $1,666 4.19%
    $250k+ 2 $3,380,000 $1,690,000 $10,109 3.94%

    Carolinas Telco Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 23 originations. The second most popular income band? $75k-100k, with 23 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 37 $9,245,000 $249,865 $2,397 4.22%
    <20% 17 $2,825,000 $166,176 $1,555 4.10%
    30-36% 16 $2,620,000 $163,750 $2,001 4.06%
    39% 6 $1,890,000 $315,000 $1,714 4.10%
    38% 5 $835,000 $167,000 $1,982 4.45%
    40% 3 $625,000 $208,333 $1,258 4.25%
    41% 2 $310,000 $155,000 $1,816 4.25%
    36% 2 $390,000 $195,000 $1,344 3.94%
    50-60% 2 $1,290,000 $645,000 $1,300 4.06%
    42% 1 $205,000 $205,000 $2,697 4.75%
    43% 1 $105,000 $105,000 $1,175 4.50%
    44% 1 $315,000 $315,000 $3,482 4.50%
    46% 1 $225,000 $225,000 $1,175 3.38%
    47% 1 $45,000 $45,000 $1,593 3.88%
    >60% 1 $835,000 $835,000 $1,300 4.13%
    37% 1 $315,000 $315,000 $1,175 4.38%

    Carolinas Telco Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 37 originations. The next most common DTI ratio? <20%, with 17 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 80 $18,410,000 $230,125 $2,040 4.16%
    Black 14 $2,950,000 $210,714 $1,849 4.26%
    Not provided 3 $715,000 $238,333 $1,175 4.04%

    Approval Rates

    Total approvals of all applications
    95.65%

    Carolinas Telco Federal Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    86.60%

    Carolinas Telco Federal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 97 $22,075,000 $227,577

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 97 $22,075,000 $227,577

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $630,000 $78,750 $1,773 4.06%
    40-60% 14 $1,860,000 $132,857 $1,564 4.04%
    60-80% 24 $4,020,000 $167,500 $1,801 4.01%
    80-100% 50 $15,400,000 $308,000 $2,266 4.30%
    Over 100% 1 $165,000 $165,000 $0 4.25%