Cu Community Mortgage Rates, Fees & Info
OAK RIDGE, TNLEI: 549300OIJ6O9DNP74L72
Tax ID: 20-3878295
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Mortgage Data
Review & Overview
Cu Community is a smaller mortgage company specializing in Cash Out Refi, Refi, and Home Purchase loans. Cu Community has a high proportion of conventional loans. Their top markets by origination volume include: Nashville, Knoxville, Chattanooga, Morristown, and Cleveland among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)Cu Community 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. Cu Community 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.01% | 4/28/24 |
| 30 Year Conventional Refi | 6.65% | 4/28/24 |
| 30 Year Cash-out Refi | 6.51% | 4/28/24 |
| 30 Year VA Purchase | 6.52% | 4/28/24 |
| 30 Year USDA Purchase | 6.84% | 4/28/24 |
| 15 Year Conventional Purchase | 6.61% | 4/28/24 |
| 15 Year Conventional Refi | 4.39% | 4/28/24 |
| 15 Year Cash-out Refi | 4.39% | 4/28/24 |
| 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. | ||
Cu Community Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
258Origination Dollar Volume (All Markets)
$41,790,000Awards
CU COMMUNITY - 2020
CU COMMUNITY is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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) | 47 | $11,225,000 | $238,830 | $5,183 | 2.81% |
| KNOXVILLE, TN (FHA|USDA|VA) | 54 | $8,920,000 | $165,185 | $4,104 | 3.02% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 40 | $5,690,000 | $142,250 | $4,052 | 2.97% |
| Outside of Metro Areas | 21 | $3,395,000 | $161,667 | $4,305 | 3.12% |
| MORRISTOWN, TN (FHA|USDA|VA) | 16 | $2,540,000 | $158,750 | $4,033 | 3.19% |
| CLEVELAND, TN (FHA|USDA|VA) | 17 | $2,035,000 | $119,706 | $3,474 | 3.71% |
| Athens, TN (FHA|USDA|VA) | 14 | $2,000,000 | $142,857 | $3,544 | 2.99% |
| Cookeville, TN (FHA|USDA|VA) | 13 | $1,475,000 | $113,462 | $3,893 | 2.81% |
| JOHNSON CITY, TN (FHA|USDA|VA) | 8 | $1,170,000 | $146,250 | $4,001 | 3.33% |
| Greeneville, TN (FHA|USDA|VA) | 8 | $940,000 | $117,500 | $3,708 | 3.17% |
| Sevierville, TN (FHA|USDA|VA) | 5 | $695,000 | $139,000 | $3,955 | 2.60% |
| Crossville, TN (FHA|USDA|VA) | 5 | $525,000 | $105,000 | $3,967 | 3.33% |
| JACKSON, TN (FHA|USDA|VA) | 5 | $435,000 | $87,000 | $3,289 | 2.98% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $5,690 | 3.00% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 3.00% |
| Newport, TN (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $4,053 | 3.63% |
| DALTON, GA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $4,184 | 3.00% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,742 | 3.63% |
Similar Lenders
We use machine learning to identify the top lenders compared against CU COMMUNITY based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 253 | $40,925,000 | $161,759 | $4,211 | 3.01% |
| VA | 3 | $815,000 | $271,667 | $2,757 | 3.08% |
| HELOC | 2 | $50,000 | $25,000 | n/a | 6.75% |
For 2020, Cu Community's most frequently originated type of loan was Conventional, with 253 originations. Their 2nd most popular type was VA, with 3 originations.
Loan Reason
For 2020, Cu Community's most frequently cited loan purpose was Cash Out Refi, with 94 originations. The 2nd most popular reason was Refi, with 81 originations.
Loan Duration/Length
For 2020, Cu Community's most frequently cited loan duration was 30 Year, with 117 originations. The 2nd most popular length was 15 Year, with 83 originations.
Origination Fees/Closing Costs
Cu Community's average total fees were $4,575, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 93 originations.
Interest Rates
During 2020, Cu Community's average interest rate for loans was 3.20%, while their most frequently originated rate bucket for loans was 2.5-3%, with 125 originations.
Loan Sizing
2020 saw Cu Community place emphasis on $100k-200k loans with 120 originations, totaling $17,420,000 in origination value.
Applicant Income
Cu Community lent most frequently to those with incomes in the $50k-75k range, with 76 originations. The second most popular income band? $50k or less, with 63 originations.
Applicant Debt to Income Ratio
Cu Community lent most frequently to those with DTI ratios of 20-30%, with 67 originations. The next most common DTI ratio? <20%, with 60 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications85.25%
Cu Community has an average approval rate.
Pick Rate
Approvals leading to origination44.19%
Cu Community 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 | 258 | $41,790,000 | $161,977 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 15 | $1,375,000 | $91,667 |
| Single Family (1-4 Units):Site-Built | 243 | $40,415,000 | $166,317 |