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 small mortgage company specializing in Home Purchase and Refi 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, Pueblo, and Billings among others. We have data for 76 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% | 4/18/24 |
| 30 Year Conventional Refi | 6.74% | 4/18/24 |
| 30 Year Cash-out Refi | 6.86% | 4/18/24 |
| 30 Year FHA Purchase | 7.56% | 4/18/24 |
| 30 Year FHA Refi | 7.29% | 4/18/24 |
| 30 Year VA Purchase | 6.30% | 4/18/24 |
| 30 Year VA Refi | 5.91% | 4/18/24 |
| 30 Year USDA Purchase | 6.80% | 4/18/24 |
| 15 Year Conventional Purchase | 6.41% | 4/18/24 |
| 15 Year Conventional Refi | 6.09% | 4/18/24 |
| 15 Year Cash-out Refi | 6.09% | 4/18/24 |
| 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
8,402Origination Dollar Volume (All Markets)
$2,572,730,000Awards
UNIVERSAL LENDING CORPORATION - 2020
UNIVERSAL LENDING CORPORATION is a 2020 , due to their low .
For 2020, 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) | 4,771 | $1,623,545,000 | $340,294 | $4,977 | 3.20% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 815 | $252,705,000 | $310,067 | $5,964 | 3.10% |
| GREELEY, CO (FHA|USDA|VA) | 575 | $168,565,000 | $293,157 | $5,868 | 3.25% |
| PUEBLO, CO (FHA|USDA|VA) | 366 | $78,550,000 | $214,617 | $6,149 | 3.31% |
| BILLINGS, MT (FHA|USDA|VA) | 317 | $74,355,000 | $234,558 | $5,914 | 3.05% |
| FORT COLLINS, CO (FHA|USDA|VA) | 213 | $68,655,000 | $322,324 | $5,065 | 3.12% |
| BOULDER, CO (FHA|USDA|VA) | 184 | $67,130,000 | $364,837 | $4,903 | 3.12% |
| Outside of Metro Areas | 299 | $63,355,000 | $211,890 | $4,882 | 3.17% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 230 | $27,010,000 | $117,435 | $3,593 | 4.02% |
| GREAT FALLS, MT (FHA|USDA|VA) | 131 | $23,885,000 | $182,328 | $4,395 | 3.00% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 86 | $20,460,000 | $237,907 | $3,908 | 3.23% |
| Edwards, CO (FHA|USDA|VA) | 41 | $15,335,000 | $374,024 | $3,755 | 3.04% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 55 | $13,615,000 | $247,545 | $4,150 | 3.05% |
| Breckenridge, CO (FHA|USDA|VA) | 26 | $8,940,000 | $343,846 | $3,473 | 3.16% |
| Kalispell, MT (FHA|USDA|VA) | 25 | $6,965,000 | $278,600 | $4,370 | 2.91% |
| CEDAR RAPIDS, IA (FHA|USDA|VA) | 38 | $6,060,000 | $159,474 | $4,465 | 3.30% |
| Cañon City, CO (FHA|USDA|VA) | 21 | $4,485,000 | $213,571 | $5,281 | 3.10% |
| Steamboat Springs, CO (FHA|USDA|VA) | 14 | $4,170,000 | $297,857 | $5,014 | 3.20% |
| Helena, MT (FHA|USDA|VA) | 16 | $4,060,000 | $253,750 | $5,299 | 2.98% |
| Fort Morgan, CO (FHA|USDA|VA) | 13 | $3,425,000 | $263,462 | $7,493 | 3.28% |
| AMARILLO, TX (FHA|USDA|VA) | 17 | $3,175,000 | $186,765 | $5,606 | 3.18% |
| Butte-Silver Bow, MT (FHA|USDA|VA) | 18 | $2,620,000 | $145,556 | $5,085 | 2.96% |
| Glenwood Springs, CO (FHA|USDA|VA) | 8 | $2,580,000 | $322,500 | $4,618 | 3.41% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 9 | $2,445,000 | $271,667 | $3,194 | 2.81% |
| Durango, CO (FHA|USDA|VA) | 8 | $2,430,000 | $303,750 | $7,663 | 3.17% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 4 | $1,680,000 | $420,000 | $5,858 | 3.03% |
| CHEYENNE, WY (FHA|USDA|VA) | 6 | $1,550,000 | $258,333 | $4,771 | 3.23% |
| Brainerd, MN (FHA|USDA|VA) | 8 | $1,440,000 | $180,000 | $3,362 | 2.88% |
| Montrose, CO (FHA|USDA|VA) | 4 | $1,260,000 | $315,000 | $3,102 | 2.81% |
| LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) | 6 | $1,240,000 | $206,667 | $2,548 | 2.88% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 5 | $945,000 | $189,000 | $3,464 | 3.30% |
| Bozeman, MT (FHA|USDA|VA) | 3 | $835,000 | $278,333 | $5,350 | 2.88% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $3,296 | 2.75% |
| EL PASO, TX (FHA|USDA|VA) | 3 | $715,000 | $238,333 | $4,001 | 3.08% |
| Gillette, WY (FHA|USDA|VA) | 3 | $705,000 | $235,000 | $7,889 | 3.38% |
| CASPER, WY (FHA|USDA|VA) | 2 | $660,000 | $330,000 | $1,121 | 2.75% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 3 | $625,000 | $208,333 | $3,488 | 2.96% |
| Rock Springs, WY (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $5,284 | 3.81% |
| Scottsbluff, NE (FHA|USDA|VA) | 3 | $545,000 | $181,667 | $3,358 | 2.92% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $3,129 | 2.81% |
| Spearfish, SD (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $3,030 | 2.38% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $2,996 | 2.88% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $4,446 | 2.63% |
| SANTA FE, NM (FHA|USDA|VA) | 3 | $485,000 | $161,667 | $3,416 | 4.33% |
| MISSOULA, MT (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $4,540 | 2.75% |
| Sterling, CO (FHA|USDA|VA) | 3 | $455,000 | $151,667 | $3,793 | 3.19% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $2,330 | 2.50% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $3,483 | 2.75% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $3,675 | 2.75% |
| MIDLAND, TX (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $7,532 | 4.00% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $3,807 | 2.94% |
| TYLER, TX (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $5,385 | 3.13% |
| Craig, CO (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $7,252 | 2.75% |
| SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,849 | 3.00% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,616 | 2.75% |
| IOWA CITY, IA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $6,383 | 2.75% |
| OCALA, FL (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $4,962 | 2.81% |
| FARGO, ND-MN (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,027 | 2.25% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $4,309 | 2.75% |
| LINCOLN, NE (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $2,348 | 2.75% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $6,133 | 2.88% |
| Burlington, IA-IL (FHA|USDA|VA) | 3 | $225,000 | $75,000 | $2,928 | 3.33% |
| WAUSAU-WESTON, WI (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $5,308 | 2.75% |
| Hobbs, NM (FHA|USDA|VA) | 3 | $215,000 | $71,667 | $5,140 | 2.04% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,687 | 3.38% |
| Spirit Lake, IA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $5,395 | 4.00% |
| ST. CLOUD, MN (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $1,317 | 3.25% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,719 | 2.25% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,231 | 3.63% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $1,896 | 2.63% |
| Hereford, TX (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $6,458 | 3.00% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,261 | 3.50% |
| ABILENE, TX (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $6,907 | 3.25% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,676 | 2.88% |
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,597 | 2.75% |
| Ottumwa, IA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $3,222 | 3.75% |
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 2020, Universal Lending Corporation's most frequently originated type of loan was Conventional, with 5,999 originations. Their 2nd most popular type was FHA, with 1,479 originations.
Loan Reason
For 2020, Universal Lending Corporation's most frequently cited loan purpose was Home Purchase, with 3,796 originations. The 2nd most popular reason was Refi, with 3,163 originations.
Loan Duration/Length
For 2020, Universal Lending Corporation's most frequently cited loan duration was 30 Year, with 7,527 originations. The 2nd most popular length was 15 Year, with 413 originations.
Origination Fees/Closing Costs
Universal Lending Corporation's average total fees were $5,312, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 4,027 originations.
Interest Rates
During 2020, Universal Lending Corporation's average interest rate for loans was 3.23%, while their most frequently originated rate bucket for loans was 3-4%, with 4,039 originations.
Loan Sizing
2020 saw Universal Lending Corporation place emphasis on $200k-400k loans with 4,878 originations, totaling $1,454,450,000 in origination value.
Applicant Income
Universal Lending Corporation lent most frequently to those with incomes in the $50k-75k range, with 2,138 originations. The second most popular income band? $100k-150k, with 1,789 originations.
Applicant Debt to Income Ratio
Universal Lending Corporation lent most frequently to those with DTI ratios of 20-30%, with 1,697 originations. The next most common DTI ratio? 30-36%, with 1,435 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.16%
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 origination82.80%
Universal Lending Corporation has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 8,402 | $2,572,730,000 | $306,204 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 100 | $20,480,000 | $204,800 |
| Single Family (1-4 Units):Site-Built | 8,302 | $2,552,250,000 | $307,426 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Universal Capital Services, Inc. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 66.7% |
| Universal Capital Services, Inc. | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 1 | 33.3% |