Union Bank Mortgage Rates, Fees & Info

LAKE ODESSA, MI

LEI: 2549003KE4TBG4N5AY60

Tax ID: 38-1117940

Latest/2023 | 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

    Union Bank is a smaller bank specializing in Cash Out Refi and Home Purchase loans. Union Bank has a high proportion of conventional loans. Their top markets by origination volume include: Grand Rapids, Kalamazoo, Lansing, Muskegon, and Battle Creek among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Union Bank has an average approval rate when compared to the average across all lenders. They have a below 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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    Originations

    68

    Origination Dollar Volume (All Markets)

    $28,500,000

    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
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 27 $13,765,000 $509,815 $0 0.00%
    KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 1 $5,495,000 $5,495,000 $0 0.00%
    Outside of Metro Areas 18 $3,520,000 $195,556 $0 0.00%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 14 $2,470,000 $176,429 $0 0.00%
    MUSKEGON, MI (FHA|USDA|VA) 2 $840,000 $420,000 $0 0.00%
    BATTLE CREEK, MI (FHA|USDA|VA) 1 $765,000 $765,000 $0 0.00%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $645,000 $645,000 $0 0.00%
    BAY CITY, MI (FHA|USDA|VA) 1 $365,000 $365,000 $0 0.00%
    Holland, MI (FHA|USDA|VA) 2 $340,000 $170,000 $0 0.00%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $295,000 $295,000 $0 0.00%
    Union Bank's top markets include Grand Rapids, Kalamazoo, Lansing, Muskegon, and Battle Creek among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 68 $28,500,000 $419,118 $0 0.00%

    For 2022, Union Bank's most frequently originated type of loan was Conventional, with 68 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 25 $7,525,000 $301,000 $0 0.00%
    Home Purchase 23 $15,235,000 $662,391 $0 0.00%
    Other 10 $4,190,000 $419,000 $0 0.00%
    Refi 10 $1,550,000 $155,000 $0 0.00%

    For 2022, Union Bank's most frequently cited loan purpose was Cash Out Refi, with 25 originations. The 2nd most popular reason was Home Purchase, with 23 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 68 $28,500,000 $419,118 $0 0.00%

    For 2022, Union Bank's most frequently cited loan duration was Other, with 68 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 22 $5,750,000 $261,364 $0 0.00%
    $100,000 or less 17 $1,075,000 $63,235 $0 0.00%
    $100k-200k 15 $2,265,000 $151,000 $0 0.00%
    $1MM+ 6 $14,420,000 $2,403,333 $0 0.00%
    $600k-1MM 5 $3,545,000 $709,000 $0 0.00%
    $400k-600k 3 $1,445,000 $481,667 $0 0.00%

    2022 saw Union Bank place emphasis on $200k-400k loans with 22 originations, totaling $5,750,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 11 $1,955,000 $177,727 $0 0.00%
    $150k-250k 10 $3,150,000 $315,000 $0 0.00%
    $250k+ 8 $9,610,000 $1,201,250 $0 0.00%
    $50k-75k 8 $940,000 $117,500 $0 0.00%
    $50k or less 8 $680,000 $85,000 $0 0.00%
    $75k-100k 6 $910,000 $151,667 $0 0.00%

    Union Bank lent most frequently to those with incomes in the $100k-150k range, with 11 originations. The second most popular income band? $150k-250k, with 10 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 68 $28,500,000 $419,118 $0 0.00%

    Union Bank lent most frequently to those with DTI ratios of Exempt%, with 68 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 50 $11,290,000 $225,800 $0 0.00%
    Not applicable 10 $9,830,000 $983,000 $0 0.00%
    Not provided 8 $7,380,000 $922,500 $0 0.00%

    Approval Rates

    Total approvals of all applications
    82.61%

    Union Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    88.24%

    Union Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 68 $28,500,000 $419,118

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    68 $28,500,000 $419,118