Knoxville Teachers Federal Credit Union Mortgage Rates, Fees & Info

Knoxville, TN

LEI: 549300ZPDWAT9R7KRW05

Tax ID: 62-0263125

Latest/2024 | 2023 Data | 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
  • 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

    Knoxville Teachers Federal Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. Knoxville Teachers Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Knoxville, Sevierville, and Morristown among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Knoxville Teachers Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

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    Originations

    125

    Origination Dollar Volume (All Markets)

    $18,115,000

    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
    KNOXVILLE, TN (FHA|USDA|VA) 118 $17,040,000 $144,407 $692 4.75%
    Sevierville, TN (FHA|USDA|VA) 6 $840,000 $140,000 $465 5.42%
    MORRISTOWN, TN (FHA|USDA|VA) 1 $235,000 $235,000 $762 3.75%
    Knoxville Teachers Federal Credit Union's top markets include Knoxville, Sevierville, and Morristown among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 125 $18,115,000 $144,920 $682 4.78%

    For 2018, Knoxville Teachers Federal Credit Union's most frequently originated type of loan was Conventional, with 125 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 55 $7,735,000 $140,636 $833 4.85%
    Refi 48 $7,510,000 $156,458 $537 4.66%
    Cash Out Refi 13 $1,865,000 $143,462 $566 4.59%
    Home Improvement 8 $940,000 $117,500 $662 5.05%
    Other 1 $65,000 $65,000 $312 6.60%

    For 2018, Knoxville Teachers Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 55 originations. The 2nd most popular reason was Refi, with 48 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 103 $15,135,000 $146,942 $731 4.66%
    15 Year 19 $2,545,000 $133,947 $341 5.30%
    10 Year 1 $285,000 $285,000 $637 3.75%
    30+ year 1 $115,000 $115,000 $1,447 5.45%
    5 Year 1 $35,000 $35,000 $50 6.99%

    For 2018, Knoxville Teachers Federal Credit Union's most frequently cited loan duration was Other, with 103 originations. The 2nd most popular length was 15 Year, with 19 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1 $255,000 $255,000

    Knoxville Teachers 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 1 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 78 $15,780,000 $202,308
    6-7% 26 $1,190,000 $45,769
    5-6% 17 $1,075,000 $63,235
    Over 8% 3 $55,000 $18,333
    <2.5% 1 $15,000 $15,000

    During 2018, Knoxville Teachers Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 78 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 48 $2,340,000 $48,750 $263 6.22%
    $100k-200k 46 $6,770,000 $147,174 $911 4.02%
    $200k-400k 29 $8,045,000 $277,414 $944 3.67%
    $400k-600k 2 $960,000 $480,000 $1,601 3.60%

    2018 saw Knoxville Teachers Federal Credit Union place emphasis on $100,000 or less loans with 48 originations, totaling $2,340,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 32 $3,880,000 $121,250 $567 5.05%
    $100k-150k 27 $5,115,000 $189,444 $692 4.57%
    $50k or less 25 $2,935,000 $117,400 $749 4.72%
    $75k-100k 20 $2,420,000 $121,000 $705 4.79%
    $150k-250k 13 $1,975,000 $151,923 $882 4.94%
    $250k+ 8 $1,790,000 $223,750 $508 4.26%

    Knoxville Teachers Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 32 originations. The second most popular income band? $100k-150k, with 27 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 34 $5,560,000 $163,529 $766 4.50%
    50-60% 19 $3,345,000 $176,053 $1,066 4.84%
    30-36% 18 $2,110,000 $117,222 $422 5.13%
    <20% 11 $1,215,000 $110,455 $845 4.30%
    >60% 8 $1,460,000 $182,500 $682 4.20%
    38% 8 $830,000 $103,750 $318 5.78%
    39% 5 $595,000 $119,000 $384 5.54%
    36% 5 $535,000 $107,000 $792 4.83%
    40% 4 $580,000 $145,000 $508 4.61%
    43% 3 $675,000 $225,000 $306 4.73%
    46% 2 $460,000 $230,000 $1,170 3.68%
    37% 2 $180,000 $90,000 $159 5.25%
    47% 1 $15,000 $15,000 $292 5.45%
    45% 1 $145,000 $145,000 $0 3.99%
    42% 1 $285,000 $285,000 $954 3.60%

    Knoxville Teachers Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 34 originations. The next most common DTI ratio? 50-60%, with 19 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 106 $16,280,000 $153,585 $709 4.71%
    Black 16 $1,310,000 $81,875 $516 5.30%
    Asian 1 $285,000 $285,000 $612 3.60%
    Not provided 2 $240,000 $120,000 $710 4.68%

    Approval Rates

    Total approvals of all applications
    98.44%

    Knoxville Teachers Federal Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    99.20%

    Knoxville Teachers Federal Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 125 $18,115,000 $144,920

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 125 $18,115,000 $144,920

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $285,000 $57,000 $166 6.53%
    40-60% 6 $940,000 $156,667 $619 4.10%
    60-80% 50 $9,200,000 $184,000 $876 4.20%
    80-100% 18 $3,160,000 $175,556 $667 4.10%
    Over 100% 1 $95,000 $95,000 $787 5.45%
    Under 20% 45 $4,435,000 $98,556 $541 5.57%