Chattanooga Area Schools Federal Credit Union Mortgage Rates, Fees & Info

Chattanooga, TN

LEI: 549300SP39BCL43JUN40

Tax ID: 62-0499190

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Chattanooga Area Schools Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Chattanooga Area Schools Federal Credit Union has a high proportion of conventional loans. Chattanooga Area Schools Federal Credit Union has an average proportion of conventional loans. Their top markets by origination volume include: Chattanooga, Cleveland, and Knoxville among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Chattanooga Area Schools Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

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    Originations

    76

    Origination Dollar Volume (All Markets)

    $9,910,000

    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
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 69 $9,215,000 $133,551 $1,290 4.07%
    CLEVELAND, TN (FHA|USDA|VA) 3 $265,000 $88,333 $1,117 3.75%
    KNOXVILLE, TN (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
    Outside of Metro Areas 3 $205,000 $68,333 $0 0.00%
    Chattanooga Area Schools Federal Credit Union's top markets include Chattanooga, Cleveland, and Knoxville among others.

    Their top states include:
  • Tennessee (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 52 $6,960,000 $133,846 $0 0.00%
    Conventional 24 $2,950,000 $122,917 $1,283 4.05%

    For 2018, Chattanooga Area Schools Federal Credit Union's most frequently originated type of loan was Conventional, with 52 originations. Their 2nd most popular type was Conventional, with 24 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 31 $4,685,000 $151,129 $1,179 4.30%
    Home Purchase 16 $2,820,000 $176,250 $2,705 3.95%
    Home Improvement 11 $565,000 $51,364 $626 4.00%
    Other 9 $605,000 $67,222 $974 3.68%
    Refi 9 $1,235,000 $137,222 $1,067 3.75%

    For 2018, Chattanooga Area Schools Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 31 originations. The 2nd most popular reason was Home Purchase, with 16 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 53 $7,135,000 $134,623 $1,268 3.75%
    20 Year 8 $1,470,000 $183,750 $1,999 4.08%
    15 Year 7 $965,000 $137,857 $1,125 3.75%
    10 Year 5 $225,000 $45,000 $746 4.80%
    5 Year 3 $115,000 $38,333 $644 3.57%

    For 2018, Chattanooga Area Schools Federal Credit Union's most frequently cited loan duration was Other, with 53 originations. The 2nd most popular length was 20 Year, with 8 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 18 $2,610,000 $145,000
    4-5% 4 $220,000 $55,000
    2.5-3% 1 $55,000 $55,000
    7-8% 1 $65,000 $65,000

    During 2018, Chattanooga Area Schools Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 18 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 38 $5,220,000 $137,368 $1,233 3.92%
    $100,000 or less 24 $1,140,000 $47,500 $708 4.34%
    $200k-400k 13 $3,135,000 $241,154 $2,584 3.90%
    $400k-600k 1 $415,000 $415,000 $0 0.00%

    2018 saw Chattanooga Area Schools Federal Credit Union place emphasis on $100k-200k loans with 38 originations, totaling $5,220,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 26 $2,650,000 $101,923 $886 4.00%
    $100k-150k 22 $3,770,000 $171,364 $1,675 4.00%
    $75k-100k 15 $1,605,000 $107,000 $989 4.50%
    $50k or less 7 $825,000 $117,857 $1,742 3.95%
    $150k-250k 5 $735,000 $147,000 $987 3.80%

    Chattanooga Area Schools Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 26 originations. The second most popular income band? $100k-150k, with 22 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 52 $6,960,000 $133,846 $0 0.00%
    30-36% 5 $475,000 $95,000 $957 3.94%
    <20% 5 $655,000 $131,000 $1,670 3.70%
    20-30% 4 $550,000 $137,500 $1,119 3.96%
    50-60% 3 $335,000 $111,667 $1,055 4.22%
    47% 2 $110,000 $55,000 $865 5.40%
    40% 2 $130,000 $65,000 $689 4.08%
    44% 1 $315,000 $315,000 $3,065 3.95%
    41% 1 $155,000 $155,000 $2,446 3.95%
    37% 1 $225,000 $225,000 $1,402 3.75%

    Chattanooga Area Schools Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 52 originations. The next most common DTI ratio? 30-36%, with 5 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 66 $8,880,000 $134,545 $1,380 4.13%
    Black 8 $960,000 $120,000 $1,084 3.82%
    American Indian 1 $45,000 $45,000 $717 3.40%
    Asian 1 $25,000 $25,000 $600 3.90%

    Approval Rates

    Total approvals of all applications
    90.22%

    Chattanooga Area Schools Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    90.79%

    Chattanooga Area Schools Federal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 52 $6,960,000 $133,846
    NA 24 $2,950,000 $122,917

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $35,000 $35,000
    Single Family (1-4 Units):Site-Built 75 $9,875,000 $131,667

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $495,000 $99,000 $982 4.74%
    40-60% 2 $170,000 $85,000 $682 3.33%
    60-80% 8 $1,360,000 $170,000 $1,931 3.88%
    80-100% 5 $805,000 $161,000 $1,281 4.07%
    Under 20% 4 $120,000 $30,000 $666 3.90%