Trust Federal Credit Union Mortgage Rates, Fees & Info
Chattanooga, TNLEI: 549300V4IWDO6EFUKC70
Tax ID: 62-0331198
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Mortgage Data
Review & Overview
Trust Federal Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Trust Federal Credit Union has a high proportion of conventional loans. Their top two markets are Chattanooga and Scottsboro .Trust Federal Credit Union has an average approval rate when compared to the average across all lenders.
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Originations
30Origination Dollar Volume (All Markets)
$4,170,000Top 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) | 28 | $4,060,000 | $145,000 | $2,088 | 5.09% |
| Scottsboro, AL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,380 | 4.25% |
| Outside of Metro Areas | 1 | $25,000 | $25,000 | $1,416 | 6.99% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 30 | $4,170,000 | $139,000 | $2,075 | 5.13% |
For 2018, Trust Federal Credit Union's most frequently originated type of loan was Conventional, with 30 originations.
Loan Reason
For 2018, Trust Federal Credit Union's most frequently cited loan purpose was Refi, with 14 originations. The 2nd most popular reason was Home Purchase, with 10 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 10 Year | 19 | $1,385,000 | $72,895 | $2,028 | 5.23% |
| Other | 11 | $2,785,000 | $253,182 | $2,156 | 4.95% |
For 2018, Trust Federal Credit Union's most frequently cited loan duration was 10 Year, with 19 originations. The 2nd most popular length was Other, with 11 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 26 | $3,740,000 | $143,846 |
| $1k-2k | 3 | $245,000 | $81,667 |
| $2k-3k | 1 | $185,000 | $185,000 |
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 26 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 21 | $3,145,000 | $149,762 |
| 5-6% | 4 | $490,000 | $122,500 |
| 6-7% | 2 | $60,000 | $30,000 |
| 7-8% | 2 | $400,000 | $200,000 |
| Over 8% | 1 | $75,000 | $75,000 |
During 2018, Trust Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 21 originations.
Loan Sizing
2018 saw Trust Federal Credit Union place emphasis on $100,000 or less loans with 15 originations, totaling $785,000 in origination value.
Applicant Income
Trust Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 8 originations. The second most popular income band? $75k-100k, with 8 originations.
Applicant Debt to Income Ratio
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 6 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 27 | $3,695,000 | $136,852 | $2,091 | 4.98% |
| Black | 3 | $475,000 | $158,333 | $1,930 | 6.41% |
Approval Rates
Total approvals of all applications88.24%
Trust Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 30 | $4,170,000 | $139,000 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 30 | $4,170,000 | $139,000 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| TRUSTMARK CORPORATION | Conventional home mortgage | Struggling to pay mortgage | 1 | 14.3% |
| TRUSTMARK CORPORATION | Conventional home mortgage | Trouble during payment process | 2 | 28.6% |
| TRUSTMARK CORPORATION | FHA mortgage | Trouble during payment process | 1 | 14.3% |
| TRUSTMARK CORPORATION | Other type of mortgage | Struggling to pay mortgage | 1 | 14.3% |
| TRUSTMARK CORPORATION | Other type of mortgage | Trouble during payment process | 2 | 28.6% |