Consumer Credit Union Mortgage Rates, Fees & Info

Greeneville, TN

LEI: 549300R14I3DX6ZMWL07

Tax ID: 62-0962107

5 stars - out of 5 stars, based on 21 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Consumer Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Consumer Credit Union has a high proportion of conventional loans. Their top markets include Morristown, Greeneville, Johnson City, Knoxville, and Sevierville among others. Consumer Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Consumer Credit Union is typically a low fee lendor.


Originations

423

Origination Dollar Volume (All Markets)

$93,375,000
Show all (10) awards

Relative Rate

Consumer Credit Union's average 30 year fixed rate mortgage of loans were 2.94%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.21%.

Relative Fees

Consumer Credit Union's average total fees for a 30 year fixed rate mortgage are $2,755.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
MORRISTOWN, TN (FHA|USDA|VA) 174 $35,330,000 $203,046 $2,390 2.93%
Greeneville, TN (FHA|USDA|VA) 130 $19,630,000 $151,000 $1,962 2.91%
JOHNSON CITY, TN (FHA|USDA|VA) 53 $12,955,000 $244,434 $2,465 3.02%
KNOXVILLE, TN (FHA|USDA|VA) 29 $8,865,000 $305,690 $3,588 2.84%
Sevierville, TN (FHA|USDA|VA) 8 $8,050,000 $1,006,250 $2,074 3.26%
Newport, TN (FHA|USDA|VA) 8 $3,670,000 $458,750 $2,482 3.03%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 16 $3,630,000 $226,875 $2,963 2.87%
Outside of Metro Areas 5 $1,245,000 $249,000 $3,743 2.70%

Consumer Credit Union's top markets include Morristown, Greeneville, Johnson City, Knoxville, and Sevierville among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 423 $93,375,000 $220,745 $2,393 2.93%

For the 2021 period, Consumer Credit Union's most frequently originated loan type of loans were Conventional, with 423 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Cash Out Refi 220 $45,870,000 $208,500 $2,017 2.89%
Home Purchase 100 $23,330,000 $233,300 $3,695 3.04%
Refi 61 $17,665,000 $289,590 $2,126 2.97%
Home Improvement 42 $6,510,000 $155,000 $1,956 2.85%

For the 2021, Consumer Credit Union's most frequently cited loan purpose of loans were Cash Out Refi, with 220 originations. The 2nd most popular reason of loans were Home Purchase, with 100 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 220 $47,350,000 $215,227 $2,755 2.94%
15 Year 132 $20,400,000 $154,545 $2,064 2.79%
5 Year 44 $23,490,000 $533,864 $1,051 3.46%
10 Year 16 $830,000 $51,875 $1,184 2.68%
20 Year 6 $490,000 $81,667 $1,918 2.60%
Other 5 $815,000 $163,000 $1,789 2.53%

For the 2021, Consumer Credit Union's most frequently cited loan length of loans were 30 Year, with 220 originations. The 2nd most popular length of loans were 15 Year, with 132 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 199 $35,595,000 $178,869
$<1k 138 $9,890,000 $71,667
$2k-3k 33 $12,575,000 $381,061
$3k-4k 15 $9,275,000 $618,333
$5k+ 2 $2,830,000 $1,415,000

$2,755 of loans were Consumer Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 199 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 254 $52,460,000 $206,535
3-4% 115 $31,255,000 $271,783
<2.5% 50 $8,980,000 $179,600
4-5% 4 $680,000 $170,000

During 2021, Consumer Credit Union's average interest rate of loans were 2.94%, while their most frequently originated rate bucket of loans were 2.5-3%, with 254 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 156 $22,500,000 $144,231 $2,071 2.92%
$100,000 or less 125 $7,955,000 $63,640 $1,526 2.84%
$200k-400k 105 $27,645,000 $263,286 $3,061 2.98%
$400k-600k 17 $7,945,000 $467,353 $4,074 2.99%
$1MM+ 10 $20,330,000 $2,033,000 $10,469 3.38%
$600k-1MM 10 $7,000,000 $700,000 $7,807 2.99%

2021 saw Consumer Credit Union place emphasis on $100k-200k loans with 156 originations, totaling $22,500,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k or less 109 $10,955,000 $100,505 $1,783 2.88%
$50k-75k 79 $10,825,000 $137,025 $2,115 2.91%
$75k-100k 75 $12,585,000 $167,800 $2,301 2.83%
$100k-150k 69 $14,835,000 $215,000 $2,492 2.86%
$150k-250k 32 $8,010,000 $250,313 $3,182 2.83%
$250k+ 23 $13,065,000 $568,043 $5,533 2.92%

Consumer Credit Union lent most frequently to those with incomes in the $50k or less range, with 109 originations. The second most popular income band? $50k-75k, with 79 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 142 $21,310,000 $150,070 $2,148 2.88%
<20% 100 $20,370,000 $203,700 $2,583 2.80%
30-36% 79 $15,085,000 $190,949 $2,467 2.88%
39% 17 $2,935,000 $172,647 $2,531 3.04%
36% 13 $1,995,000 $153,462 $2,105 2.77%
40% 7 $1,495,000 $213,571 $2,898 3.05%
37% 7 $1,285,000 $183,571 $2,180 2.95%
38% 7 $1,295,000 $185,000 $2,003 2.75%
41% 4 $930,000 $232,500 $2,885 3.03%
>60% 3 $2,215,000 $738,333 $6,398 2.79%
43% 2 $200,000 $100,000 $1,515 2.69%
42% 2 $290,000 $145,000 $1,731 3.13%
50-60% 1 $225,000 $225,000 $2,548 2.25%
45% 1 $205,000 $205,000 $3,260 2.75%
44% 1 $65,000 $65,000 $1,160 2.63%
48% 1 $265,000 $265,000 $3,885 2.50%

Consumer Credit Union lent most frequently to those with DTI ratios of 20-30%, with 142 originations. The next most common DTI ratio? <20%, with 100 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 384 $71,620,000 $186,510 $2,356 2.89%
Not applicable 22 $17,290,000 $785,909 $0 3.57%
Not provided 11 $3,395,000 $308,636 $3,442 2.89%
Asian 4 $940,000 $235,000 $2,983 2.94%
Black 1 $85,000 $85,000 $2,326 3.13%
Asian Indian 1 $45,000 $45,000 $0 3.75%

Approval Rates

Total approvals of all applications
87.44%

Consumer Credit Union has an average approval rate.

Pick Rate

Approvals leading to origination
79.22%

Consumer Credit Union has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 423 $93,375,000 $220,745

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
423 $93,375,000 $220,745

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 59 $4,835,000 $81,949 $1,566 2.81%
40-60% 89 $12,595,000 $141,517 $1,920 2.83%
60-80% 178 $39,850,000 $223,876 $2,640 2.87%
80-100% 79 $33,105,000 $419,051 $3,462 3.24%
Over 100% 3 $2,005,000 $668,333 $7,738 3.67%
Under 20% 12 $460,000 $38,333 $1,427 2.90%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Consumer Credit Services, LLC VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%