Universal Lending Corporation Mortgage Rates, Fees & Info
Littleton, COLEI: 5493000OIGWIS24A1547
Tax ID: 84-0849361
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Mortgage Data
Review & Overview
Universal Lending Corporation is a smaller mortgage company specializing in Home Purchase loans. Universal Lending Corporation has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Denver, Colorado Springs, Greeley, Billings, and Fort Collins among others. We have data for 57 markets. (Some data included below & more in-depth data is available with an active subscription.)Universal Lending Corporation 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. Universal Lending Corporation 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.80% | 11/21/24 |
| 30 Year Conventional Refi | 6.74% | 11/21/24 |
| 30 Year Cash-out Refi | 6.86% | 11/21/24 |
| 30 Year FHA Purchase | 7.56% | 11/21/24 |
| 30 Year FHA Refi | 7.29% | 11/21/24 |
| 30 Year VA Purchase | 6.30% | 11/21/24 |
| 30 Year VA Refi | 5.91% | 11/21/24 |
| 30 Year USDA Purchase | 6.80% | 11/21/24 |
| 15 Year Conventional Purchase | 6.41% | 11/21/24 |
| 15 Year Conventional Refi | 6.09% | 11/21/24 |
| 15 Year Cash-out Refi | 6.09% | 11/21/24 |
| 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. | ||
Universal Lending Corporation Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
3,141Origination Dollar Volume (All Markets)
$843,695,000Awards
UNIVERSAL LENDING CORPORATION - 2018
UNIVERSAL LENDING CORPORATION is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1,614 | $510,560,000 | $316,332 | $6,101 | 4.90% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 341 | $93,475,000 | $274,120 | $6,651 | 4.80% |
| GREELEY, CO (FHA|USDA|VA) | 223 | $60,365,000 | $270,695 | $5,873 | 5.01% |
| Outside of Metro Areas | 151 | $24,325,000 | $161,093 | $4,625 | 4.72% |
| BILLINGS, MT (FHA|USDA|VA) | 116 | $22,590,000 | $194,741 | $5,652 | 4.61% |
| FORT COLLINS, CO (FHA|USDA|VA) | 68 | $21,450,000 | $315,441 | $5,729 | 4.81% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 164 | $17,070,000 | $104,085 | $3,224 | 5.24% |
| BOULDER, CO (FHA|USDA|VA) | 46 | $14,680,000 | $319,130 | $5,880 | 4.84% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 52 | $11,430,000 | $219,808 | $4,294 | 4.68% |
| GREAT FALLS, MT (FHA|USDA|VA) | 59 | $9,715,000 | $164,661 | $5,337 | 4.39% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 43 | $8,935,000 | $207,791 | $4,980 | 4.88% |
| PUEBLO, CO (FHA|USDA|VA) | 53 | $7,415,000 | $139,906 | $5,677 | 5.14% |
| CEDAR RAPIDS, IA (FHA|USDA|VA) | 42 | $6,100,000 | $145,238 | $4,615 | 5.02% |
| Durango, CO (FHA|USDA|VA) | 12 | $3,300,000 | $275,000 | $3,122 | 4.75% |
| AMARILLO, TX (FHA|USDA|VA) | 19 | $3,125,000 | $164,474 | $5,525 | 4.88% |
| Edwards, CO (FHA|USDA|VA) | 6 | $2,520,000 | $420,000 | $6,723 | 4.65% |
| Fort Morgan, CO (FHA|USDA|VA) | 9 | $2,335,000 | $259,444 | $6,769 | 5.06% |
| Cañon City, CO (FHA|USDA|VA) | 13 | $2,125,000 | $163,462 | $6,051 | 5.17% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 12 | $2,050,000 | $170,833 | $3,394 | 4.80% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 8 | $1,980,000 | $247,500 | $4,515 | 4.88% |
| MISSOULA, MT (FHA|USDA|VA) | 6 | $1,760,000 | $293,333 | $6,379 | 4.69% |
| Breckenridge, CO (FHA|USDA|VA) | 5 | $1,725,000 | $345,000 | $3,761 | 4.78% |
| CHEYENNE, WY (FHA|USDA|VA) | 7 | $1,665,000 | $237,857 | $5,487 | 5.29% |
| Butte-Silver Bow, MT (FHA|USDA|VA) | 13 | $1,465,000 | $112,692 | $5,099 | 4.52% |
| Steamboat Springs, CO (FHA|USDA|VA) | 4 | $1,080,000 | $270,000 | $8,914 | 5.00% |
| Glenwood Springs, CO (FHA|USDA|VA) | 3 | $885,000 | $295,000 | $5,839 | 5.02% |
| IOWA CITY, IA (FHA|USDA|VA) | 3 | $775,000 | $258,333 | $3,983 | 5.21% |
| Montrose, CO (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $3,149 | 5.00% |
| Sterling, CO (FHA|USDA|VA) | 4 | $530,000 | $132,500 | $4,826 | 5.16% |
| THE VILLAGES, FL (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $3,327 | 5.00% |
| Jackson, WY-ID (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $10,822 | 4.00% |
| Kalispell, MT (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $4,736 | 4.56% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $4,273 | 4.38% |
| Brainerd, MN (FHA|USDA|VA) | 3 | $445,000 | $148,333 | $3,880 | 4.88% |
| Las Vegas, NM (FHA|USDA|VA) | 5 | $425,000 | $85,000 | $3,464 | 5.43% |
| Helena, MT (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $7,438 | 4.13% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $5,480 | 4.88% |
| Pampa, TX (FHA|USDA|VA) | 3 | $315,000 | $105,000 | $6,038 | 4.38% |
| Fairfield, IA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $1,742 | 4.50% |
| Borger, TX (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $5,610 | 5.44% |
| Carlsbad-Artesia, NM (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $6,425 | 4.00% |
| Pella, IA (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $5,031 | 5.25% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,639 | 4.75% |
| FARGO, ND-MN (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $1,374 | 4.50% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $1,595 | 4.75% |
| OCALA, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,967 | 5.25% |
| SANTA FE, NM (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $9,198 | 5.63% |
| LAS CRUCES, NM (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,408 | 4.38% |
| LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,133 | 5.75% |
| Dumas, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,884 | 5.50% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,199 | 5.38% |
| Burlington, IA-IL (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $3,052 | 5.44% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,953 | 4.75% |
| WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $5,500 | 5.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $5,271 | 5.38% |
| EL PASO, TX (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $4,056 | 4.75% |
| Spirit Lake, IA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,109 | 4.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against UNIVERSAL LENDING CORPORATION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2018, Universal Lending Corporation's most frequently originated type of loan was Conventional, with 1,837 originations. Their 2nd most popular type was FHA, with 828 originations.
Loan Reason
For 2018, Universal Lending Corporation's most frequently cited loan purpose was Home Purchase, with 2,472 originations. The 2nd most popular reason was Cash Out Refi, with 532 originations.
Loan Duration/Length
For 2018, Universal Lending Corporation's most frequently cited loan duration was 30 Year, with 2,984 originations. The 2nd most popular length was Other, with 78 originations.
Origination Fees/Closing Costs
Universal Lending Corporation's average total fees were $5,789, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,377 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 1,792 | $519,260,000 | $289,766 |
| 5-6% | 1,144 | $278,710,000 | $243,628 |
| 3-4% | 169 | $42,945,000 | $254,112 |
| 6-7% | 12 | $2,440,000 | $203,333 |
| 2.5-3% | 1 | $225,000 | $225,000 |
During 2018, Universal Lending Corporation's average interest rate for loans was 4.90%, while their most frequently originated rate bucket for loans was 4-5%, with 1,792 originations.
Loan Sizing
2018 saw Universal Lending Corporation place emphasis on $200k-400k loans with 1,775 originations, totaling $511,335,000 in origination value.
Applicant Income
Universal Lending Corporation lent most frequently to those with incomes in the $50k or less range, with 3,058 originations. The second most popular income band? $50k-75k, with 29 originations.
Applicant Debt to Income Ratio
Universal Lending Corporation lent most frequently to those with DTI ratios of 30-36%, with 490 originations. The next most common DTI ratio? 20-30%, with 297 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.95%
Universal Lending Corporation has an average approval rate.
Pick Rate
Approvals leading to origination77.20%
Universal Lending Corporation has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 3,141 | $843,695,000 | $268,607 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 92 | $17,390,000 | $189,022 |
| Single Family (1-4 Units):Site-Built | 3,049 | $826,305,000 | $271,009 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| University Lending Group, LLC | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |