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
  • Complaints
  • 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 Refi loans. Chattanooga Area Schools Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Chattanooga, Cleveland, and Fort Payne 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 a below average pick rate when compared to similar lenders.

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    Originations

    49

    Origination Dollar Volume (All Markets)

    $5,295,000

    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) 43 $4,815,000 $111,977 $0 0.00%
    Outside of Metro Areas 4 $290,000 $72,500 $0 0.00%
    CLEVELAND, TN (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
    Fort Payne, AL (FHA|USDA|VA) 1 $25,000 $25,000 $0 0.00%
    Chattanooga Area Schools Federal Credit Union's top markets include Chattanooga, Cleveland, and Fort Payne among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 49 $5,295,000 $108,061 $0 0.00%

    For 2019, Chattanooga Area Schools Federal Credit Union's most frequently originated type of loan was Conventional, with 49 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 17 $2,065,000 $121,471 $0 0.00%
    Home Improvement 12 $790,000 $65,833 $0 0.00%
    Refi 10 $1,090,000 $109,000 $0 0.00%
    Home Purchase 6 $800,000 $133,333 $0 0.00%
    Other 4 $550,000 $137,500 $0 0.00%

    For 2019, Chattanooga Area Schools Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 17 originations. The 2nd most popular reason was Home Improvement, with 12 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 49 $5,295,000 $108,061 $0 0.00%

    For 2019, Chattanooga Area Schools Federal Credit Union's most frequently cited loan duration was Other, with 49 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 30 $1,910,000 $63,667 $0 0.00%
    $100k-200k 15 $2,265,000 $151,000 $0 0.00%
    $200k-400k 4 $1,120,000 $280,000 $0 0.00%

    2019 saw Chattanooga Area Schools Federal Credit Union place emphasis on $100,000 or less loans with 30 originations, totaling $1,910,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 16 $1,690,000 $105,625 $0 0.00%
    $50k-75k 15 $1,205,000 $80,333 $0 0.00%
    $50k or less 10 $790,000 $79,000 $0 0.00%
    $75k-100k 5 $875,000 $175,000 $0 0.00%
    $150k-250k 3 $735,000 $245,000 $0 0.00%

    Chattanooga Area Schools Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 16 originations. The second most popular income band? $50k-75k, with 15 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 49 $5,295,000 $108,061 $0 0.00%

    Chattanooga Area Schools Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 49 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 45 $4,945,000 $109,889 $0 0.00%
    Black 4 $350,000 $87,500 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.85%

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

    Pick Rate

    Approvals leading to origination
    75.51%

    Chattanooga Area Schools Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 49 $5,295,000 $108,061

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 2 $50,000 $25,000
    Single Family (1-4 Units):Site-Built 47 $5,245,000 $111,596

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Chattanooga Neighborhood Enterprise, Inc. Conventional home mortgage Trouble during payment process 1 100.0%