Knoxville Teachers Federal Credit Union Mortgage Rates, Fees & Info

Knoxville, TN

LEI: 549300ZPDWAT9R7KRW05

Tax ID: 62-0263125

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
  • 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 Cash Out Refi and Home Purchase loans. Knoxville Teachers Federal Credit Union has a high proportion of conventional loans. Their top two markets are Knoxville and Sevierville .

    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.

    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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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    15 Year Conventional Purchase 7.54% 11/23/24
    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.

    Knoxville Teachers Federal Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Knoxville Teachers Federal 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

    178

    Origination Dollar Volume (All Markets)

    $24,840,000

    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) 173 $24,045,000 $138,988 $702 4.92%
    Outside of Metro Areas 2 $420,000 $210,000 $1,294 3.80%
    Sevierville, TN (FHA|USDA|VA) 3 $375,000 $125,000 $408 4.99%
    Knoxville Teachers Federal Credit Union's top markets include Knoxville and Sevierville among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 178 $24,840,000 $139,551 $704 4.91%

    For 2019, Knoxville Teachers Federal Credit Union's most frequently originated type of loan was Conventional, with 178 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 78 $9,180,000 $117,692 $534 4.78%
    Home Purchase 63 $10,395,000 $165,000 $1,002 5.06%
    Refi 24 $3,630,000 $151,250 $541 4.84%
    Home Improvement 9 $1,305,000 $145,000 $599 4.49%
    Other 4 $330,000 $82,500 $203 6.61%

    For 2019, Knoxville Teachers Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 78 originations. The 2nd most popular reason was Home Purchase, with 63 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 158 $22,420,000 $141,899 $724 4.82%
    15 Year 14 $2,060,000 $147,143 $536 5.35%
    10 Year 5 $255,000 $51,000 $375 6.08%
    1 Year 1 $105,000 $105,000 $126 6.99%

    For 2019, Knoxville Teachers Federal Credit Union's most frequently cited loan duration was Other, with 158 originations. The 2nd most popular length was 15 Year, with 14 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 81 $16,815,000 $207,593
    4-5% 37 $4,965,000 $134,189
    6-7% 27 $1,485,000 $55,000
    5-6% 21 $1,225,000 $58,333
    7-8% 8 $230,000 $28,750
    Over 8% 4 $120,000 $30,000

    During 2019, 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 81 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 73 $3,825,000 $52,397 $303 6.08%
    $100k-200k 68 $9,330,000 $137,206 $826 4.21%
    $200k-400k 31 $8,075,000 $260,484 $992 3.87%
    $400k-600k 3 $1,435,000 $478,333 $1,505 3.99%
    $600k-1MM 3 $2,175,000 $725,000 $1,625 3.99%

    2019 saw Knoxville Teachers Federal Credit Union place emphasis on $100,000 or less loans with 73 originations, totaling $3,825,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 45 $7,345,000 $163,222 $572 5.16%
    $50k-75k 35 $3,885,000 $111,000 $662 4.87%
    $50k or less 35 $3,195,000 $91,286 $745 4.88%
    $75k-100k 29 $4,265,000 $147,069 $684 4.90%
    $100k-150k 23 $4,295,000 $186,739 $931 4.72%
    $250k+ 9 $1,685,000 $187,222 $947 4.33%

    Knoxville Teachers Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 45 originations. The second most popular income band? $50k-75k, with 35 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 43 $6,755,000 $157,093 $720 4.87%
    30-36% 32 $5,190,000 $162,188 $797 4.73%
    <20% 30 $3,400,000 $113,333 $730 4.94%
    50-60% 16 $1,310,000 $81,875 $1,071 4.36%
    >60% 8 $1,730,000 $216,250 $620 4.17%
    40% 7 $815,000 $116,429 $518 5.11%
    36% 7 $1,035,000 $147,857 $611 4.77%
    38% 5 $595,000 $119,000 $537 6.14%
    44% 4 $650,000 $162,500 $394 6.62%
    42% 3 $285,000 $95,000 $620 5.56%
    41% 3 $355,000 $118,333 $562 5.48%
    48% 3 $275,000 $91,667 $466 5.16%
    39% 2 $190,000 $95,000 $381 6.22%
    45% 2 $530,000 $265,000 $1,199 5.49%
    46% 2 $380,000 $190,000 $625 3.80%
    49% 2 $160,000 $80,000 $730 5.25%
    37% 2 $170,000 $85,000 $306 5.75%
    47% 1 $245,000 $245,000 $362 3.99%
    43% 1 $185,000 $185,000 $562 4.25%

    Knoxville Teachers Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 43 originations. The next most common DTI ratio? 30-36%, with 32 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 149 $21,555,000 $144,664 $725 4.89%
    Black 26 $2,770,000 $106,538 $612 5.13%
    Not provided 3 $515,000 $171,667 $604 4.16%

    Approval Rates

    Total approvals of all applications
    97.84%

    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
    98.31%

    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 178 $24,840,000 $139,551

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 8 $520,000 $65,000
    Single Family (1-4 Units):Site-Built 170 $24,320,000 $143,059

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 18 $1,150,000 $63,889 $266 6.48%
    40-60% 20 $2,290,000 $114,500 $739 4.41%
    60-80% 74 $12,620,000 $170,541 $926 4.22%
    80-100% 36 $7,320,000 $203,333 $918 4.17%
    Under 20% 30 $1,460,000 $48,667 $162 6.92%