United Mortgage Rates, Fees & Info
Chicago, ILLEI: 549300631WQW7LPEC356
Tax ID: 36-1894017
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Mortgage Data
Review & Overview
United is a smaller mortgage company specializing in Refi and Home Purchase loans. United has a high proportion of conventional loans. Their top (well, only) market is Chicago.United 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. United 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.
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Originations
65Origination Dollar Volume (All Markets)
$9,455,000Awards
UNITED - 2018
UNITED 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 |
|---|---|---|---|---|---|
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 65 | $9,455,000 | $145,462 | $1,350 | 4.11% |
Similar Lenders
We use machine learning to identify the top lenders compared against UNITED based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 28
Similarity Rank: 104
Similarity Rank: 408
Similarity Rank: 533
Similarity Rank: 759
Similarity Rank: 852
Similarity Rank: 870
Similarity Rank: 921
Similarity Rank: 1032
Similarity Rank: 1056
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 65 | $9,455,000 | $145,462 | $1,350 | 4.11% |
For 2018, United's most frequently originated type of loan was Conventional, with 65 originations.
Loan Reason
For 2018, United's most frequently cited loan purpose was Refi, with 51 originations. The 2nd most popular reason was Home Purchase, with 12 originations.
Loan Duration/Length
For 2018, United's most frequently cited loan duration was 30 Year, with 30 originations. The 2nd most popular length was 20 Year, with 13 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 61 | $8,855,000 | $145,164 |
| $1k-2k | 3 | $315,000 | $105,000 |
| $2k-3k | 1 | $285,000 | $285,000 |
United's average total fees were $1,724, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 61 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 31 | $5,325,000 | $171,774 |
| 3-4% | 28 | $3,660,000 | $130,714 |
| 5-6% | 6 | $470,000 | $78,333 |
During 2018, United's average interest rate for loans was 4.23%, while their most frequently originated rate bucket for loans was 4-5%, with 31 originations.
Loan Sizing
2018 saw United place emphasis on $100k-200k loans with 39 originations, totaling $5,705,000 in origination value.
Applicant Income
United lent most frequently to those with incomes in the $100k-150k range, with 20 originations. The second most popular income band? $75k-100k, with 17 originations.
Applicant Debt to Income Ratio
United lent most frequently to those with DTI ratios of 20-30%, with 19 originations. The next most common DTI ratio? 30-36%, with 16 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications74.76%
United has a below average approval rate.
Pick Rate
Approvals leading to origination81.54%
United has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1000.0 | 1 | $105,000 | $105,000 |
| 1125.0 | 1 | $115,000 | $115,000 |
| 1515.0 | 1 | $155,000 | $155,000 |
| 2800.0 | 1 | $285,000 | $285,000 |
| 412.5 | 1 | $45,000 | $45,000 |
| 540.0 | 1 | $55,000 | $55,000 |
| 562.5 | 1 | $55,000 | $55,000 |
| 950.0 | 1 | $95,000 | $95,000 |
| NA | 57 | $8,545,000 | $149,912 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 65 | $9,455,000 | $145,462 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| UNITED COMMUNITY BANK | Conventional home mortgage | Trouble during payment process | 1 | 25.0% |
| UNITED COMMUNITY BANK | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 25.0% |
| UNITED COMMUNITY BANK | Other type of mortgage | Struggling to pay mortgage | 1 | 25.0% |
| UNITED COMMUNITY BANK | Other type of mortgage | Trouble during payment process | 1 | 25.0% |