The Tennessee Credit Union Mortgage Rates, Fees & Info

NASHVILLE, TN

LEI: 549300YUZCW5UUIYIL79

Tax ID: 62-0526770

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • 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

    The Tennessee Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. The Tennessee Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Nashville, Cookeville, Knoxville, Clarksville, and Johnson City among others. We have data for 14 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 an average 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 11.36% 5/5/24
    30 Year Conventional Refi 11.04% 5/5/24
    30 Year Cash-out Refi 9.73% 5/5/24
    30 Year FHA Purchase 6.27% 5/5/24
    30 Year FHA Refi 6.27% 5/5/24
    30 Year USDA Purchase 6.27% 5/5/24
    15 Year Conventional Purchase 8.86% 5/5/24
    15 Year Conventional Refi 8.82% 5/5/24
    15 Year Cash-out Refi 8.82% 5/5/24
    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

    243

    Origination Dollar Volume (All Markets)

    $48,225,000

    Awards

    THE TENNESSEE CREDIT UNION 30 Year Conventional Loans bronze THE TENNESSEE CREDIT UNION 30 Year Conventional Loans gold THE TENNESSEE CREDIT UNION 30 Year Conventional Loans gold
    Show all (3) awards

    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
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 178 $38,990,000 $219,045 $3,974 4.22%
    Cookeville, TN (FHA|USDA|VA) 19 $1,825,000 $96,053 $2,257 4.49%
    Outside of Metro Areas 10 $1,740,000 $174,000 $3,061 4.90%
    KNOXVILLE, TN (FHA|USDA|VA) 9 $1,515,000 $168,333 $2,621 4.86%
    CLARKSVILLE, TN-KY (FHA|USDA|VA) 4 $820,000 $205,000 $3,970 4.28%
    JOHNSON CITY, TN (FHA|USDA|VA) 6 $760,000 $126,667 $4,372 4.63%
    Sevierville, TN (FHA|USDA|VA) 2 $610,000 $305,000 $3,309 4.81%
    MORRISTOWN, TN (FHA|USDA|VA) 7 $565,000 $80,714 $1,552 5.04%
    Lewisburg, TN (FHA|USDA|VA) 1 $545,000 $545,000 $5,138 3.38%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 2 $390,000 $195,000 $4,110 3.81%
    Lawrenceburg, TN (FHA|USDA|VA) 1 $265,000 $265,000 $4,144 5.13%
    KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 2 $120,000 $60,000 $1,094 4.00%
    Dayton, TN (FHA|USDA|VA) 1 $55,000 $55,000 $0 4.25%
    Crossville, TN (FHA|USDA|VA) 1 $25,000 $25,000 $0 7.00%
    The Tennessee Credit Union's top markets include Nashville, Cookeville, Knoxville, Clarksville, and Johnson City among others.

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

    • 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.

    US COMMUNITY
    Similarity Rank: 295
    First Farmers and Merchants Bank
    Similarity Rank: 456
    Listerhill Credit Union
    Similarity Rank: 858
    THE TENNESSEE CREDIT UNION
    Similarity Rank: 868
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 1404
    TENNESSEE TRUST MORTGAGE, INC
    Similarity Rank: 1512
    The Farmers Bank
    Similarity Rank: 1545
    ASCEND FEDERAL CREDIT UNION
    Similarity Rank: 1974
    First Federal Bank
    Similarity Rank: 2260
    SHELTER LENDING SERVICES, L.L.C.
    Similarity Rank: 2380

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 155 $41,965,000 $270,742 $3,668 3.96%
    HELOC 88 $6,260,000 $71,136 n/a 5.00%

    For 2022, The Tennessee Credit Union's most frequently originated type of loan was Conventional, with 155 originations. Their 2nd most popular type was HELOC, with 88 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 88 $6,260,000 $71,136 $0 5.00%
    Refi 62 $15,220,000 $245,484 $3,507 3.42%
    Home Purchase 59 $23,455,000 $397,542 $5,442 3.89%
    Cash Out Refi 33 $3,085,000 $93,485 $798 5.12%
    Home Improvement 1 $205,000 $205,000 $3,635 3.88%

    For 2022, The Tennessee Credit Union's most frequently cited loan purpose was Other, with 88 originations. The 2nd most popular reason was Refi, with 62 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 116 $10,820,000 $93,276 $2,452 4.58%
    30 Year 65 $25,225,000 $388,077 $4,832 3.97%
    20 Year 30 $8,070,000 $269,000 $3,648 3.30%
    10 Year 26 $1,890,000 $72,692 $962 5.29%
    30+ year 3 $2,115,000 $705,000 $15,767 4.42%
    5 Year 3 $105,000 $35,000 $339 5.25%

    For 2022, The Tennessee Credit Union's most frequently cited loan duration was 15 Year, with 116 originations. The 2nd most popular length was 30 Year, with 65 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 112 $35,290,000 $315,089
    $<1k 35 $2,475,000 $70,714
    $5k+ 4 $2,730,000 $682,500
    $2k-3k 2 $950,000 $475,000
    $3k-4k 1 $345,000 $345,000
    $4k-5k 1 $175,000 $175,000

    The Tennessee Credit Union's average total fees were $4,832, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 112 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 68 $9,410,000 $138,382
    3-4% 62 $15,810,000 $255,000
    5-6% 38 $7,730,000 $203,421
    6-7% 30 $2,770,000 $92,333
    2.5-3% 24 $7,090,000 $295,417
    <2.5% 19 $5,275,000 $277,632
    7-8% 2 $140,000 $70,000

    During 2022, The Tennessee Credit Union's average interest rate for loans was 3.97%, while their most frequently originated rate bucket for loans was 4-5%, with 68 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 109 $5,905,000 $54,174 $1,095 4.94%
    $100k-200k 51 $7,375,000 $144,608 $2,763 4.06%
    $200k-400k 46 $13,750,000 $298,913 $4,063 3.70%
    $400k-600k 23 $11,265,000 $489,783 $5,834 3.55%
    $600k-1MM 13 $8,895,000 $684,231 $8,517 4.04%
    $1MM+ 1 $1,035,000 $1,035,000 $6,168 5.00%

    2022 saw The Tennessee Credit Union place emphasis on $100,000 or less loans with 109 originations, totaling $5,905,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 28 $1,690,000 $60,357 $465 5.01%
    $150k-250k 23 $3,035,000 $131,957 $1,735 5.11%
    $50k-75k 19 $1,245,000 $65,526 $1,082 5.09%
    $75k-100k 16 $1,180,000 $73,750 $1,318 5.07%
    $50k or less 6 $300,000 $50,000 $521 4.40%
    $250k+ 3 $1,145,000 $381,667 $0 5.67%

    The Tennessee Credit Union lent most frequently to those with incomes in the $100k-150k range, with 28 originations. The second most popular income band? $150k-250k, with 23 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 15 $1,785,000 $119,000 $1,516 5.07%
    30-36% 11 $825,000 $75,000 $467 5.08%
    <20% 9 $525,000 $58,333 $995 4.89%
    45% 6 $380,000 $63,333 $826 5.52%
    36% 5 $525,000 $105,000 $3,001 4.38%
    42% 4 $270,000 $67,500 $575 4.81%
    47% 4 $270,000 $67,500 $539 5.44%
    49% 4 $1,170,000 $292,500 $372 6.47%
    41% 3 $195,000 $65,000 $572 5.71%
    39% 3 $485,000 $161,667 $2,681 3.58%
    38% 2 $120,000 $60,000 $0 5.63%
    48% 2 $670,000 $335,000 $7,061 5.38%
    50-60% 2 $40,000 $20,000 $347 6.69%
    >60% 1 $45,000 $45,000 $0 4.25%
    46% 1 $55,000 $55,000 $0 4.25%
    37% 1 $75,000 $75,000 $0 4.25%

    The Tennessee Credit Union lent most frequently to those with DTI ratios of 20-30%, with 15 originations. The next most common DTI ratio? 30-36%, with 11 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 162 $35,690,000 $220,309 $3,697 4.31%
    Not provided 34 $4,790,000 $140,882 $3,374 4.40%
    Black 25 $3,705,000 $148,200 $3,364 4.54%
    Not applicable 12 $1,890,000 $157,500 $5,124 4.36%
    Asian Indian 2 $890,000 $445,000 $5,913 3.81%
    Asian 4 $730,000 $182,500 $2,170 4.53%
    American Indian 4 $530,000 $132,500 $3,129 3.78%

    Approval Rates

    Total approvals of all applications
    94.03%

    The Tennessee Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    51.03%

    The Tennessee Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 243 $48,225,000 $198,457

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    243 $48,225,000 $198,457

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 14 $1,820,000 $130,000 $678 5.17%
    40-60% 3 $245,000 $81,667 $891 4.42%
    60-80% 1 $315,000 $315,000 $3,001 2.63%
    80-100% 3 $1,655,000 $551,667 $5,463 3.13%
    Under 20% 75 $4,595,000 $61,267 $522 5.15%