Union Mortgage Group Rates, Fees & Info

Ruther Glen, VA

LEI: 549300241ZT0ZF7SSS28

Tax ID: 54-1921183

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • 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 Mortgage Group is a smaller credit union specializing in Home Purchase loans. Union Mortgage Group 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 by origination volume include: Washington, Richmond, Virginia Beach, Blacksburg, and Charlottesville among others. We have data for 33 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Union Mortgage Group 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. Union Mortgage Group is typically a low 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    789

    Origination Dollar Volume (All Markets)

    $209,125,000
    Show all (5) awards

    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
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 172 $62,100,000 $361,047 $5,572 4.52%
    RICHMOND, VA (FHA|USDA|VA) 210 $59,150,000 $281,667 $4,395 4.70%
    Outside of Metro Areas 102 $20,890,000 $204,804 $3,959 4.66%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 76 $19,710,000 $259,342 $4,660 4.74%
    BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 55 $9,045,000 $164,455 $3,785 4.60%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 25 $6,205,000 $248,200 $4,611 4.66%
    HARRISONBURG, VA (FHA|USDA|VA) 23 $4,945,000 $215,000 $3,563 4.58%
    ROANOKE, VA (FHA|USDA|VA) 27 $4,425,000 $163,889 $4,084 4.63%
    RALEIGH-CARY, NC (FHA|USDA|VA) 16 $3,440,000 $215,000 $4,089 4.77%
    LYNCHBURG, VA (FHA|USDA|VA) 14 $3,140,000 $224,286 $3,996 4.85%
    WINCHESTER, VA-WV (FHA|USDA|VA) 7 $3,025,000 $432,143 $6,817 4.93%
    STAUNTON, VA (FHA|USDA|VA) 19 $2,465,000 $129,737 $3,225 4.73%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 4 $1,610,000 $402,500 $2,631 4.53%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 7 $1,305,000 $186,429 $3,559 4.89%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 3 $995,000 $331,667 $4,230 4.21%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 3 $695,000 $231,667 $4,582 5.00%
    HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 2 $590,000 $295,000 $10,096 4.44%
    Bluefield, WV-VA (FHA|USDA|VA) 4 $550,000 $137,500 $3,086 4.50%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $515,000 $515,000 $9,415 5.00%
    COLUMBIA, SC (FHA|USDA|VA) 1 $505,000 $505,000 $4,416 5.00%
    Seneca, SC (FHA|USDA|VA) 1 $485,000 $485,000 $6,950 4.88%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $455,000 $455,000 $3,690 3.88%
    SPARTANBURG, SC (FHA|USDA|VA) 1 $415,000 $415,000 $2,131 4.63%
    FAYETTEVILLE, NC (FHA|USDA|VA) 2 $400,000 $200,000 $3,336 4.25%
    Morehead City, NC (FHA|USDA|VA) 1 $345,000 $345,000 $3,262 4.63%
    Lumberton, NC (FHA|USDA|VA) 3 $335,000 $111,667 $4,453 4.21%
    ROCKY MOUNT, NC (FHA|USDA|VA) 2 $320,000 $160,000 $4,951 4.19%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 2 $320,000 $160,000 $2,555 5.13%
    Danville, VA (FHA|USDA|VA) 1 $255,000 $255,000 $3,184 4.75%
    Mount Airy, NC (FHA|USDA|VA) 1 $185,000 $185,000 $3,583 4.25%
    SALISBURY, MD-DE (FHA|USDA|VA) 1 $135,000 $135,000 $2,725 4.88%
    North Wilkesboro, NC (FHA|USDA|VA) 1 $105,000 $105,000 $4,613 4.13%
    Martinsville, VA (FHA|USDA|VA) 1 $65,000 $65,000 $2,876 5.50%
    Union Mortgage Group's top markets include Washington, Richmond, Virginia Beach, Blacksburg, and Charlottesville among others.

    Their top states include:
  • Virginia (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • West Virginia (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Union Mortgage Group based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    ABNB Federal Credit Union
    Similarity Rank: 40
    PARK VIEW FEDERAL CREDIT UNION
    Similarity Rank: 84
    UNIVERSITY OF VIRGINIA COMMUNITY CREDIT UNION,INC.
    Similarity Rank: 96
    DOMINION ENERGY CREDIT UNION
    Similarity Rank: 108
    BEACH MUNICIPAL FEDERAL CREDIT UNION
    Similarity Rank: 123
    NEWPORT NEWS SHIPBUILDING EMPLOYEES
    Similarity Rank: 147
    DUPONT COMMUNITY
    Similarity Rank: 154
    Bank of Clarke County
    Similarity Rank: 320
    F & M BANK CORP.
    Similarity Rank: 338
    LIBRARY OF CONGRESS
    Similarity Rank: 448

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 579 $161,105,000 $278,247 $3,729 4.71%
    FHA 115 $25,635,000 $222,913 $7,371 4.56%
    USDA 50 $7,150,000 $143,000 $4,654 4.40%
    VA 45 $15,235,000 $338,556 $7,110 4.38%

    For 2018, Union Mortgage Group's most frequently originated type of loan was Conventional, with 579 originations. Their 2nd most popular type was FHA, with 115 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 665 $179,975,000 $270,639 $4,674 4.64%
    Cash Out Refi 56 $12,460,000 $222,500 $4,133 4.63%
    Refi 54 $13,270,000 $245,741 $3,303 4.66%
    Other 8 $1,350,000 $168,750 $3,096 4.89%
    Home Improvement 6 $2,070,000 $345,000 $3,364 4.88%

    For 2018, Union Mortgage Group's most frequently cited loan purpose was Home Purchase, with 665 originations. The 2nd most popular reason was Cash Out Refi, with 56 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 721 $194,845,000 $270,243 $4,595 4.67%
    15 Year 43 $9,735,000 $226,395 $3,990 4.28%
    20 Year 17 $3,295,000 $193,824 $3,187 4.55%
    10 Year 4 $440,000 $110,000 $2,598 4.47%
    Other 4 $810,000 $202,500 $3,324 4.56%

    For 2018, Union Mortgage Group's most frequently cited loan duration was 30 Year, with 721 originations. The 2nd most popular length was 15 Year, with 43 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 504 $135,900,000 $269,643
    $1k-2k 154 $29,330,000 $190,455
    $2k-3k 53 $12,195,000 $230,094
    $3k-4k 28 $8,160,000 $291,429
    $5k+ 28 $14,850,000 $530,357
    $4k-5k 19 $7,525,000 $396,053

    Union Mortgage Group's average total fees were $4,595, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 504 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 597 $158,985,000 $266,307
    5-6% 107 $26,255,000 $245,374
    3-4% 83 $23,475,000 $282,831
    6-7% 2 $410,000 $205,000

    During 2018, Union Mortgage Group's average interest rate for loans was 4.67%, while their most frequently originated rate bucket for loans was 4-5%, with 597 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 322 $90,330,000 $280,528 $4,709 4.62%
    $100k-200k 266 $40,110,000 $150,789 $3,801 4.73%
    $400k-600k 86 $40,660,000 $472,791 $6,275 4.57%
    $100,000 or less 74 $4,590,000 $62,027 $2,561 4.64%
    $600k-1MM 33 $24,485,000 $741,970 $6,739 4.57%
    $1MM+ 8 $8,950,000 $1,118,750 $11,163 4.47%

    2018 saw Union Mortgage Group place emphasis on $200k-400k loans with 322 originations, totaling $90,330,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 177 $33,375,000 $188,559 $3,972 4.66%
    $50k or less 161 $20,965,000 $130,217 $3,647 4.71%
    $100k-150k 142 $44,480,000 $313,239 $5,176 4.60%
    $75k-100k 125 $30,255,000 $242,040 $4,714 4.61%
    $150k-250k 111 $41,185,000 $371,036 $5,100 4.67%
    $250k+ 58 $35,510,000 $612,241 $5,799 4.59%

    Union Mortgage Group lent most frequently to those with incomes in the $50k-75k range, with 177 originations. The second most popular income band? $50k or less, with 161 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 160 $43,670,000 $272,938 $4,253 4.60%
    30-36% 141 $35,345,000 $250,674 $4,375 4.59%
    44% 48 $12,440,000 $259,167 $4,765 4.71%
    42% 47 $13,665,000 $290,745 $4,521 4.75%
    <20% 43 $12,315,000 $286,395 $3,695 4.61%
    41% 37 $10,045,000 $271,486 $4,962 4.73%
    37% 36 $12,010,000 $333,611 $4,584 4.72%
    40% 35 $8,275,000 $236,429 $4,104 4.63%
    50-60% 32 $9,310,000 $290,938 $6,573 4.51%
    39% 30 $6,450,000 $215,000 $3,968 4.75%
    43% 29 $7,455,000 $257,069 $4,293 4.75%
    38% 29 $7,065,000 $243,621 $4,892 4.57%
    36% 26 $5,590,000 $215,000 $3,619 4.74%
    46% 20 $5,670,000 $283,500 $4,325 4.74%
    47% 20 $5,210,000 $260,500 $4,689 4.66%
    48% 19 $6,245,000 $328,684 $6,211 4.56%
    45% 18 $4,570,000 $253,889 $5,812 4.44%
    49% 17 $3,545,000 $208,529 $4,256 4.87%
    >60% 2 $250,000 $125,000 $3,300 5.82%

    Union Mortgage Group lent most frequently to those with DTI ratios of 20-30%, with 160 originations. The next most common DTI ratio? 30-36%, with 141 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 627 $162,295,000 $258,844 $4,439 4.65%
    Not provided 68 $24,300,000 $357,353 $4,970 4.67%
    Black 64 $12,800,000 $200,000 $4,639 4.65%
    Asian 24 $8,250,000 $343,750 $4,811 4.67%
    American Indian 5 $1,135,000 $227,000 $3,839 4.38%
    Asian Indian 1 $345,000 $345,000 $9,069 4.63%

    Approval Rates

    Total approvals of all applications
    97.28%

    Union Mortgage Group 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
    62.86%

    Union Mortgage Group has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 1 $615,000 $615,000
    NA 788 $208,510,000 $264,607

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 28 $2,740,000 $97,857
    Single Family (1-4 Units):Site-Built 761 $206,385,000 $271,202

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 26 $3,890,000 $149,615 $3,110 4.46%
    40-60% 59 $13,435,000 $227,712 $3,582 4.46%
    60-80% 192 $53,510,000 $278,698 $3,901 4.69%
    80-100% 469 $131,405,000 $280,181 $4,935 4.67%
    Over 100% 23 $6,105,000 $265,435 $8,516 4.61%
    Under 20% 20 $780,000 $39,000 $575 4.63%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Union Home Mortgage Corp Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 10.0%
    Union Home Mortgage Corp Conventional home mortgage Trouble during payment process 2 20.0%
    Union Home Mortgage Corp FHA mortgage Applying for a mortgage or refinancing an existing mortgage 2 20.0%
    Union Home Mortgage Corp FHA mortgage Incorrect information on your report 1 10.0%
    Union Home Mortgage Corp FHA mortgage Struggling to pay mortgage 1 10.0%
    Union Home Mortgage Corp Other type of mortgage Struggling to pay mortgage 1 10.0%
    Union Home Mortgage Corp VA mortgage Trouble during payment process 2 20.0%