Universal Lending Corporation Mortgage Rates, Fees & Info

Littleton, CO

LEI: 5493000OIGWIS24A1547

Tax ID: 84-0849361

4.2 stars - out of 5 stars, based on 75 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Universal Lending Corporation is a small mortgage company specializing in Home Purchase, Refi, and Cash Out Refi loans. Universal Lending Corporation has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Denver, Colorado Springs, Greeley, Billings, and Fort Collins among others. Universal Lending Corporation has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Universal Lending Corporation is typically an average fee lendor.


Originations

5,680

Origination Dollar Volume (All Markets)

$1,904,360,000
Show all (6) awards

Relative Rate

Universal Lending Corporation's average 30 year fixed rate mortgage of loans were 3.09%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.06%.

Relative Fees

Universal Lending Corporation's average total fees for a 30 year fixed rate mortgage are $5,684.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 3,176 $1,187,510,000 $373,901 $5,200 3.06%
COLORADO SPRINGS, CO (FHA|USDA|VA) 581 $200,025,000 $344,277 $6,529 2.99%
GREELEY, CO (FHA|USDA|VA) 427 $135,965,000 $318,419 $6,008 3.14%
BILLINGS, MT (FHA|USDA|VA) 320 $75,290,000 $235,281 $5,543 2.97%
FORT COLLINS, CO (FHA|USDA|VA) 152 $52,510,000 $345,461 $5,072 3.07%
PUEBLO, CO (FHA|USDA|VA) 211 $45,785,000 $216,991 $6,884 3.11%
Outside of Metro Areas 209 $45,155,000 $216,053 $5,032 3.10%
BOULDER, CO (FHA|USDA|VA) 116 $44,740,000 $385,690 $4,995 2.95%
GREAT FALLS, MT (FHA|USDA|VA) 108 $21,100,000 $195,370 $5,228 2.70%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 48 $13,700,000 $285,417 $3,700 3.22%
GRAND JUNCTION, CO (FHA|USDA|VA) 47 $11,545,000 $245,638 $4,894 3.02%
Edwards, CO (FHA|USDA|VA) 18 $6,420,000 $356,667 $5,355 3.18%
Breckenridge, CO (FHA|USDA|VA) 17 $6,315,000 $371,471 $3,821 3.18%
CEDAR RAPIDS, IA (FHA|USDA|VA) 32 $5,750,000 $179,688 $3,981 3.09%
Fort Morgan, CO (FHA|USDA|VA) 15 $4,315,000 $287,667 $9,187 3.28%
AMARILLO, TX (FHA|USDA|VA) 22 $4,050,000 $184,091 $5,190 2.99%
Helena, MT (FHA|USDA|VA) 11 $3,655,000 $332,273 $7,287 2.94%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 12 $3,650,000 $304,167 $5,016 3.21%
Cañon City, CO (FHA|USDA|VA) 14 $2,910,000 $207,857 $5,606 3.21%
ALBUQUERQUE, NM (FHA|USDA|VA) 16 $2,800,000 $175,000 $3,972 3.53%
CHEYENNE, WY (FHA|USDA|VA) 11 $2,565,000 $233,182 $5,605 3.03%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 8 $2,400,000 $300,000 $6,843 3.28%
Glenwood Springs, CO (FHA|USDA|VA) 4 $1,740,000 $435,000 $5,309 3.16%
Durango, CO (FHA|USDA|VA) 5 $1,385,000 $277,000 $4,521 3.18%
Heber, UT (FHA|USDA|VA) 1 $1,375,000 $1,375,000 $11,303 2.88%
Montrose, CO (FHA|USDA|VA) 5 $1,285,000 $257,000 $5,298 3.03%
Butte-Silver Bow, MT (FHA|USDA|VA) 6 $1,230,000 $205,000 $3,998 2.54%
Kalispell, MT (FHA|USDA|VA) 5 $1,215,000 $243,000 $5,801 3.05%
Sterling, CO (FHA|USDA|VA) 4 $1,110,000 $277,500 $8,028 3.22%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 3 $905,000 $301,667 $4,695 3.17%
Steamboat Springs, CO (FHA|USDA|VA) 3 $895,000 $298,333 $5,675 2.53%
LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 3 $885,000 $295,000 $8,471 2.46%
Bozeman, MT (FHA|USDA|VA) 3 $815,000 $271,667 $8,482 2.63%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 2 $740,000 $370,000 $3,464 3.13%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 3 $705,000 $235,000 $3,582 2.71%
Brainerd, MN (FHA|USDA|VA) 3 $675,000 $225,000 $3,226 3.13%
SALT LAKE CITY, UT (FHA|USDA|VA) 1 $565,000 $565,000 $6,164 2.75%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 2 $540,000 $270,000 $7,280 3.69%
IOWA CITY, IA (FHA|USDA|VA) 2 $520,000 $260,000 $3,129 3.06%
Pella, IA (FHA|USDA|VA) 3 $505,000 $168,333 $4,990 2.92%
Spearfish, SD (FHA|USDA|VA) 1 $495,000 $495,000 $2,664 3.00%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 3 $485,000 $161,667 $3,497 3.38%
Dumas, TX (FHA|USDA|VA) 3 $475,000 $158,333 $5,630 2.83%
RAPID CITY, SD (FHA|USDA|VA) 2 $470,000 $235,000 $4,588 3.56%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 2 $450,000 $225,000 $3,321 3.19%
TUCSON, AZ (FHA|USDA|VA) 3 $425,000 $141,667 $4,580 3.17%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $410,000 $205,000 $4,219 3.25%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 2 $410,000 $205,000 $4,739 2.38%
Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 2 $370,000 $185,000 $3,619 3.50%
MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 1 $355,000 $355,000 $3,076 3.38%
CASPER, WY (FHA|USDA|VA) 1 $315,000 $315,000 $8,790 3.25%
Craig, CO (FHA|USDA|VA) 1 $315,000 $315,000 $9,430 2.63%
OCALA, FL (FHA|USDA|VA) 1 $275,000 $275,000 $5,925 2.88%
Laramie, WY (FHA|USDA|VA) 1 $245,000 $245,000 $4,440 3.63%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $225,000 $225,000 $2,505 2.88%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $215,000 $215,000 $3,940 3.63%
FARMINGTON, NM (FHA|USDA|VA) 1 $205,000 $205,000 $8,081 3.13%
Spirit Lake, IA (FHA|USDA|VA) 2 $200,000 $100,000 $3,876 3.38%
Ottumwa, IA (FHA|USDA|VA) 1 $195,000 $195,000 $5,374 3.13%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $195,000 $195,000 $2,014 3.25%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $185,000 $185,000 $5,400 3.13%
Athens, TX (FHA|USDA|VA) 1 $175,000 $175,000 $6,383 2.75%
Grants, NM (FHA|USDA|VA) 1 $165,000 $165,000 $4,241 3.00%
DUBUQUE, IA (FHA|USDA|VA) 1 $165,000 $165,000 $5,008 3.00%
Scottsbluff, NE (FHA|USDA|VA) 1 $165,000 $165,000 $2,756 2.63%
SHERMAN-DENISON, TX (FHA|USDA|VA) 1 $165,000 $165,000 $7,963 3.00%
SIOUX FALLS, SD (FHA|USDA|VA) 1 $165,000 $165,000 $2,224 3.00%
Clovis, NM (FHA|USDA|VA) 2 $160,000 $80,000 $4,596 4.06%
THE VILLAGES, FL (FHA|USDA|VA) 1 $155,000 $155,000 $4,455 3.38%
Pampa, TX (FHA|USDA|VA) 1 $145,000 $145,000 $1,498 2.63%
Sheridan, WY (FHA|USDA|VA) 1 $145,000 $145,000 $2,932 2.75%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $125,000 $125,000 $3,651 3.25%
Hays, KS (FHA|USDA|VA) 1 $115,000 $115,000 $3,326 3.63%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $95,000 $95,000 $4,473 3.13%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $75,000 $75,000 $3,734 4.50%
WACO, TX (FHA|USDA|VA) 1 $75,000 $75,000 $3,433 2.38%
Burlington, IA-IL (FHA|USDA|VA) 1 $65,000 $65,000 $1,860 3.88%
Gallup, NM (FHA|USDA|VA) 1 $45,000 $45,000 $2,735 2.88%

Universal Lending Corporation's top markets include Denver, Colorado Springs, Greeley, Billings, and Fort Collins among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 4,164 $1,368,080,000 $328,549 $3,980 3.09%
FHA 1,040 $356,150,000 $342,452 $11,018 3.07%
VA 455 $175,875,000 $386,538 $8,005 2.73%
USDA 21 $4,255,000 $202,619 $5,829 2.74%

For the 2021 period, Universal Lending Corporation's most frequently originated loan type of loans were Conventional, with 4,164 originations. Their 2nd most popular type is FHA, with 1,040 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 2,781 $980,735,000 $352,656 $6,867 3.11%
Refi 1,641 $504,805,000 $307,620 $3,773 2.92%
Cash Out Refi 1,258 $418,820,000 $332,925 $4,415 3.10%

For the 2021, Universal Lending Corporation's most frequently cited loan purpose of loans were Home Purchase, with 2,781 originations. The 2nd most popular reason of loans were Refi, with 1,641 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 5,011 $1,698,285,000 $338,911 $5,684 3.09%
15 Year 301 $66,565,000 $221,146 $3,152 2.59%
Other 223 $100,485,000 $450,605 $3,087 2.96%
20 Year 119 $33,745,000 $283,571 $3,571 2.86%
10 Year 26 $5,280,000 $203,077 $3,349 2.40%

For the 2021, Universal Lending Corporation's most frequently cited loan length of loans were 30 Year, with 5,011 originations. The 2nd most popular length of loans were 15 Year, with 301 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 2,841 $928,925,000 $326,971
$3k-4k 926 $297,270,000 $321,026
$<1k 652 $192,360,000 $295,031
$2k-3k 596 $183,210,000 $307,399
$5k+ 518 $224,210,000 $432,838

$5,684 of loans were Universal Lending Corporation's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 2,841 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 2,746 $947,170,000 $344,927
2.5-3% 2,332 $773,890,000 $331,857
<2.5% 536 $165,840,000 $309,403
4-5% 62 $17,440,000 $281,290
5-6% 4 $20,000 $5,000

During 2021, Universal Lending Corporation's average interest rate of loans were 3.09%, while their most frequently originated rate bucket of loans were 3-4%, with 2,746 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 2,875 $863,495,000 $300,346 $5,573 3.07%
$400k-600k 1,563 $751,065,000 $480,528 $6,215 3.05%
$100k-200k 921 $146,545,000 $159,115 $3,918 3.00%
$600k-1MM 158 $111,790,000 $707,532 $7,433 3.08%
$100,000 or less 145 $9,275,000 $63,966 $2,536 2.96%
$1MM+ 18 $22,190,000 $1,232,778 $13,356 3.16%

2021 saw Universal Lending Corporation place emphasis on $200k-400k loans with 2,875 originations, totaling $863,495,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 1,417 $391,565,000 $276,334 $5,984 3.06%
$100k-150k 1,287 $489,045,000 $379,988 $5,328 3.07%
$75k-100k 1,128 $376,110,000 $333,431 $6,057 3.08%
$50k or less 915 $232,515,000 $254,115 $4,622 2.97%
$150k-250k 724 $312,010,000 $430,953 $4,666 3.08%
$250k+ 209 $103,115,000 $493,373 $5,168 3.02%

Universal Lending Corporation lent most frequently to those with incomes in the $50k-75k range, with 1,417 originations. The second most popular income band? $100k-150k, with 1,287 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 1,013 $324,945,000 $320,775 $4,186 2.99%
30-36% 927 $314,795,000 $339,585 $5,030 3.06%
<20% 299 $91,365,000 $305,569 $3,702 2.92%
42% 268 $89,820,000 $335,149 $5,823 3.11%
44% 256 $86,060,000 $336,172 $5,537 3.15%
43% 250 $82,230,000 $328,920 $5,546 3.14%
40% 249 $83,875,000 $336,847 $5,699 3.11%
50-60% 239 $81,275,000 $340,063 $10,722 3.04%
37% 223 $71,495,000 $320,605 $4,716 3.08%
38% 223 $71,875,000 $322,309 $4,959 3.11%
39% 218 $71,130,000 $326,284 $5,617 3.09%
41% 210 $66,920,000 $318,667 $5,119 3.11%
36% 196 $67,750,000 $345,663 $5,089 3.11%
49% 194 $64,240,000 $331,134 $7,009 3.17%
45% 183 $60,315,000 $329,590 $6,732 3.11%
46% 178 $59,260,000 $332,921 $6,505 3.08%
48% 153 $52,885,000 $345,654 $7,238 3.09%
47% 145 $47,825,000 $329,828 $6,879 3.05%
>60% 6 $2,870,000 $478,333 $6,080 2.96%

Universal Lending Corporation lent most frequently to those with DTI ratios of 20-30%, with 1,013 originations. The next most common DTI ratio? 30-36%, with 927 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 4,799 $1,607,535,000 $334,973 $5,273 3.05%
Not provided 514 $175,100,000 $340,661 $6,495 3.06%
Black 176 $57,480,000 $326,591 $6,657 3.09%
Asian 130 $43,940,000 $338,000 $5,375 3.10%
American Indian 53 $17,975,000 $339,151 $7,510 3.02%
Native Hawaiian 7 $1,965,000 $280,714 $6,568 3.14%
Other Asian 1 $365,000 $365,000 $3,923 3.13%

Approval Rates

Total approvals of all applications
96.20%

Universal Lending Corporation 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
81.48%

Universal Lending Corporation has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 5,680 $1,904,360,000 $335,275

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
5,680 $1,904,360,000 $335,275

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 289 $56,435,000 $195,277 $3,169 2.86%
40-60% 863 $250,355,000 $290,098 $3,436 2.94%
60-80% 1,839 $644,665,000 $350,552 $4,249 3.12%
80-100% 2,470 $878,140,000 $355,522 $7,106 3.08%
Over 100% 152 $69,020,000 $454,079 $15,072 2.83%
Under 20% 67 $5,745,000 $85,746 $1,714 2.84%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
UNIVERSAL LENDING CORP. Conventional home mortgage Struggling to pay mortgage 1 100.0%