Trust Federal Credit Union Mortgage Rates, Fees & Info

Chattanooga, TN

LEI: 549300V4IWDO6EFUKC70

Tax ID: 62-0331198

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
  • Similar Lenders
  • 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

    Trust Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Trust Federal Credit Union has a high proportion of conventional loans. Their top (well, only) market is Chattanooga.

    Trust Federal Credit Union has an above average approval rate when compared to the average across all lenders.

    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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    Originations

    31

    Origination Dollar Volume (All Markets)

    $3,815,000

    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) 31 $3,815,000 $123,065 $3,152 7.85%
    Trust Federal Credit Union's top markets include and Chattanooga among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Trust Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Chattanooga Federal Emp. Credit Union
    Similarity Rank: 485
    TENNESSEE VALLEY
    Similarity Rank: 850
    Citizens Tri-County Bank
    Similarity Rank: 868
    Independent Bank
    Similarity Rank: 1140
    Morgan Stanley Private Bank
    Similarity Rank: 1320
    First Citizens National Bank
    Similarity Rank: 1344
    Legends Bank
    Similarity Rank: 1428
    First Horizon Bank
    Similarity Rank: 1799
    DHI MORTGAGE COMPANY, LTD.
    Similarity Rank: 2043
    COMMUNITY MORTGAGE CORPORATION
    Similarity Rank: 2408

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 31 $3,815,000 $123,065 $3,152 7.85%

    For 2023, Trust Federal Credit Union's most frequently originated type of loan was Conventional, with 31 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 20 $1,930,000 $96,500 $2,820 8.18%
    Home Purchase 9 $1,755,000 $195,000 $4,068 7.11%
    Refi 2 $130,000 $65,000 $2,350 8.00%

    For 2023, Trust Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 20 originations. The 2nd most popular reason was Home Purchase, with 9 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 22 $1,730,000 $78,636 $2,559 7.96%
    Other 8 $2,060,000 $257,500 $5,003 7.62%
    5 Year 1 $25,000 $25,000 $1,378 7.37%

    For 2023, Trust Federal Credit Union's most frequently cited loan duration was 10 Year, with 22 originations. The 2nd most popular length was Other, with 8 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 14 $590,000 $42,143
    $1k-2k 10 $1,020,000 $102,000
    $2k-3k 4 $1,010,000 $252,500
    $3k-4k 1 $305,000 $305,000
    $4k-5k 1 $385,000 $385,000
    $5k+ 1 $505,000 $505,000

    Trust Federal Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 14 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 12 $760,000 $63,333
    6-7% 10 $2,060,000 $206,000
    Over 8% 9 $995,000 $110,556

    During 2023, Trust Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 7-8%, with 12 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 20 $1,070,000 $53,500 $2,198 8.06%
    $200k-400k 6 $1,700,000 $283,333 $5,265 6.87%
    $100k-200k 4 $540,000 $135,000 $3,336 7.74%
    $400k-600k 1 $505,000 $505,000 $8,804 9.99%

    2023 saw Trust Federal Credit Union place emphasis on $100,000 or less loans with 20 originations, totaling $1,070,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 10 $1,420,000 $142,000 $3,108 7.46%
    $100k-150k 9 $715,000 $79,444 $2,638 7.55%
    $50k or less 5 $205,000 $41,000 $2,036 8.60%
    $250k+ 3 $1,075,000 $358,333 $6,795 7.91%
    $150k-250k 2 $110,000 $55,000 $2,334 8.37%
    $75k-100k 2 $290,000 $145,000 $3,826 8.75%

    Trust Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 10 originations. The second most popular income band? $100k-150k, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 10 $1,680,000 $168,000 $3,877 7.50%
    20-30% 5 $505,000 $101,000 $2,580 7.67%
    <20% 4 $480,000 $120,000 $3,408 7.56%
    39% 4 $200,000 $50,000 $2,244 9.25%
    37% 2 $400,000 $200,000 $3,250 7.38%
    36% 2 $160,000 $80,000 $2,607 7.50%
    40% 2 $70,000 $35,000 $2,076 8.50%
    42% 1 $55,000 $55,000 $2,208 9.49%
    38% 1 $265,000 $265,000 $5,353 6.75%

    Trust Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 10 originations. The next most common DTI ratio? 20-30%, with 5 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 19 $2,845,000 $149,737 $3,548 7.58%
    Not provided 6 $630,000 $105,000 $2,908 7.71%
    Black 6 $340,000 $56,667 $2,142 8.87%

    Approval Rates

    Total approvals of all applications
    93.94%

    Trust Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 31 $3,815,000 $123,065

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    31 $3,815,000 $123,065

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $590,000 $73,750 $2,544 8.31%
    60-80% 3 $735,000 $245,000 $5,091 8.24%
    80-100% 8 $1,970,000 $246,250 $4,717 7.28%
    Under 20% 12 $520,000 $43,333 $2,029 7.84%