The Tennessee Credit Union Mortgage Rates, Fees & Info
NASHVILLE, TNLEI: 549300YUZCW5UUIYIL79
Tax ID: 62-0526770
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
The Tennessee Credit Union is a smaller credit union specializing in Other loans. The Tennessee Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Nashville, Cookeville, Knoxville, Johnson City, and Morristown among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)The Tennessee 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. The Tennessee Credit Union is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 11.36% | 12/16/24 |
| 30 Year Conventional Refi | 11.04% | 12/16/24 |
| 30 Year Cash-out Refi | 9.73% | 12/16/24 |
| 30 Year FHA Purchase | 6.27% | 12/16/24 |
| 30 Year FHA Refi | 6.27% | 12/16/24 |
| 30 Year USDA Purchase | 6.27% | 12/16/24 |
| 15 Year Conventional Purchase | 8.86% | 12/16/24 |
| 15 Year Conventional Refi | 8.82% | 12/16/24 |
| 15 Year Cash-out Refi | 8.82% | 12/16/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
The Tennessee Credit Union Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from The Tennessee Credit Union. It uses our SimulatedRate™
technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.
The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
168Origination Dollar Volume (All Markets)
$26,960,000Top 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 |
|---|---|---|---|---|---|
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 82 | $17,700,000 | $215,854 | $3,307 | 3.23% |
| Outside of Metro Areas | 64 | $5,280,000 | $82,500 | $3,000 | 4.46% |
| Cookeville, TN (FHA|USDA|VA) | 7 | $1,345,000 | $192,143 | $3,217 | 3.18% |
| KNOXVILLE, TN (FHA|USDA|VA) | 4 | $900,000 | $225,000 | $3,474 | 3.34% |
| JOHNSON CITY, TN (FHA|USDA|VA) | 4 | $470,000 | $117,500 | $2,657 | 2.97% |
| MORRISTOWN, TN (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $3,747 | 3.50% |
| Crossville, TN (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,380 | 3.00% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,338 | 3.75% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,108 | 3.00% |
| Dayton, TN (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,223 | 3.75% |
| Lewisburg, TN (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,074 | 3.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against THE TENNESSEE CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 680
Similarity Rank: 684
Similarity Rank: 832
Similarity Rank: 834
Similarity Rank: 1350
Similarity Rank: 1430
Similarity Rank: 1771
Similarity Rank: 1786
Similarity Rank: 1818
Similarity Rank: 2175
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 122 | $25,050,000 | $205,328 | $3,241 | 3.26% |
| HELOC | 46 | $1,910,000 | $41,522 | n/a | 4.85% |
For 2020, The Tennessee Credit Union's most frequently originated type of loan was Conventional, with 122 originations. Their 2nd most popular type was HELOC, with 46 originations.
Loan Reason
For 2020, The Tennessee Credit Union's most frequently cited loan purpose was Other, with 121 originations. The 2nd most popular reason was Cash Out Refi, with 40 originations.
Loan Duration/Length
For 2020, The Tennessee Credit Union's most frequently cited loan duration was 30 Year, with 76 originations. The 2nd most popular length was 15 Year, with 64 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 104 | $19,850,000 | $190,865 |
| $2k-3k | 9 | $4,055,000 | $450,556 |
| $<1k | 8 | $600,000 | $75,000 |
| $3k-4k | 1 | $545,000 | $545,000 |
The Tennessee Credit Union's average total fees were $3,388, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 104 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 70 | $15,170,000 | $216,714 |
| 2.5-3% | 50 | $9,670,000 | $193,400 |
| 4-5% | 38 | $1,710,000 | $45,000 |
| 6-7% | 8 | $350,000 | $43,750 |
| 5-6% | 1 | $45,000 | $45,000 |
During 2020, The Tennessee Credit Union's average interest rate for loans was 3.37%, while their most frequently originated rate bucket for loans was 3-4%, with 70 originations.
Loan Sizing
2020 saw The Tennessee Credit Union place emphasis on $100,000 or less loans with 60 originations, totaling $2,880,000 in origination value.
Applicant Income
The Tennessee Credit Union lent most frequently to those with incomes in the $50k or less range, with 128 originations. The second most popular income band? $100k-150k, with 13 originations.
Applicant Debt to Income Ratio
The Tennessee Credit Union lent most frequently to those with DTI ratios of <20%, with 15 originations. The next most common DTI ratio? 20-30%, with 13 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.94%
The Tennessee Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination85.12%
The Tennessee Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 168 | $26,960,000 | $160,476 |