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 and Home Purchase loans. Cu Community has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Chattanooga, Knoxville, Nashville, Cookeville, and Brookhaven among others. We have data for 14 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.01% | 12/16/24 |
| 30 Year Conventional Refi | 6.65% | 12/16/24 |
| 30 Year Cash-out Refi | 6.51% | 12/16/24 |
| 30 Year VA Purchase | 6.52% | 12/16/24 |
| 30 Year USDA Purchase | 6.84% | 12/16/24 |
| 15 Year Conventional Purchase | 6.61% | 12/16/24 |
| 15 Year Conventional Refi | 4.39% | 12/16/24 |
| 15 Year Cash-out Refi | 4.39% | 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. | ||
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
145Origination Dollar Volume (All Markets)
$18,055,000Top 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 |
|---|---|---|---|---|---|
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 17 | $4,015,000 | $236,176 | $5,676 | 4.38% |
| KNOXVILLE, TN (FHA|USDA|VA) | 27 | $3,665,000 | $135,741 | $4,709 | 3.82% |
| Outside of Metro Areas | 38 | $3,420,000 | $90,000 | $4,192 | 5.60% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 27 | $2,845,000 | $105,370 | $2,659 | 6.35% |
| Cookeville, TN (FHA|USDA|VA) | 12 | $1,270,000 | $105,833 | $3,929 | 4.68% |
| Brookhaven, MS (FHA|USDA|VA) | 13 | $1,115,000 | $85,769 | $3,892 | 6.90% |
| JACKSON, TN (FHA|USDA|VA) | 3 | $485,000 | $161,667 | $4,844 | 4.83% |
| CLEVELAND, TN (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $6,752 | 3.13% |
| HATTIESBURG, MS (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $7,291 | 4.75% |
| JACKSON, MS (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $4,003 | 5.25% |
| Fort Payne, AL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,244 | 5.88% |
| McComb, MS (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,563 | 4.00% |
| Athens, TN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $4,935 | 5.00% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $1,078 | 7.00% |
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
For 2022, Cu Community's most frequently originated type of loan was Conventional, with 128 originations. Their 2nd most popular type was HELOC, with 13 originations.
Loan Reason
For 2022, Cu Community's most frequently cited loan purpose was Cash Out Refi, with 78 originations. The 2nd most popular reason was Home Purchase, with 37 originations.
Loan Duration/Length
For 2022, Cu Community's most frequently cited loan duration was 15 Year, with 57 originations. The 2nd most popular length was 30 Year, with 28 originations.
Origination Fees/Closing Costs
Cu Community's average total fees were $5,758, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 51 originations.
Interest Rates
During 2022, Cu Community's average interest rate for loans was 4.93%, while their most frequently originated rate bucket for loans was 5-6%, with 31 originations.
Loan Sizing
2022 saw Cu Community place emphasis on $100,000 or less loans with 77 originations, totaling $4,205,000 in origination value.
Applicant Income
Cu Community lent most frequently to those with incomes in the $50k-75k range, with 38 originations. The second most popular income band? $100k-150k, with 34 originations.
Applicant Debt to Income Ratio
Cu Community lent most frequently to those with DTI ratios of 30-36%, with 33 originations. The next most common DTI ratio? 20-30%, with 31 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications87.36%
Cu Community has an average approval rate.
Pick Rate
Approvals leading to origination28.28%
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 |
|---|---|---|---|
| 1023.2 | 1 | $15,000 | $15,000 |
| 1076.7 | 1 | $25,000 | $25,000 |
| 1172.95 | 1 | $35,000 | $35,000 |
| 1262.95 | 1 | $55,000 | $55,000 |
| 1288.2 | 1 | $45,000 | $45,000 |
| 1293.6 | 1 | $75,000 | $75,000 |
| 1478.2 | 1 | $85,000 | $85,000 |
| 1556.1 | 1 | $95,000 | $95,000 |
| 1583.2 | 1 | $55,000 | $55,000 |
| 1687.95 | 1 | $105,000 | $105,000 |
| 1753.2 | 1 | $125,000 | $125,000 |
| 1882.6 | 1 | $155,000 | $155,000 |
| 1982.95 | 1 | $105,000 | $105,000 |
| NA | 132 | $17,080,000 | $129,394 |