United Mortgage Rates, Fees & Info

Chicago, IL

LEI: 549300631WQW7LPEC356

Tax ID: 36-1894017

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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

    United is a smaller mortgage company specializing in Cash Out 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 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.

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

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    Originations

    43

    Origination Dollar Volume (All Markets)

    $5,475,000

    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) 43 $5,475,000 $127,326 $4,395 4.22%
    United's top markets include and Chicago among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)

    • 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.

    Liberty Bank for Savings
    Similarity Rank: 85
    EDUCATORS CREDIT UNION
    Similarity Rank: 352
    UNITED
    Similarity Rank: 498
    Southern Lkaes Credit Union
    Similarity Rank: 513
    AMERITRUST MORTGAGE CORPORATION
    Similarity Rank: 618
    TECH Credit Union
    Similarity Rank: 856
    Community State Bank
    Similarity Rank: 888
    The Equitable Bank, S.S.B.
    Similarity Rank: 950
    DuPage Credit Union
    Similarity Rank: 1428
    American Financial Funding Corp.
    Similarity Rank: 1565

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 43 $5,475,000 $127,326 $4,395 4.22%

    For 2019, United's most frequently originated type of loan was Conventional, with 43 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 21 $2,705,000 $128,810 $2,998 4.06%
    Home Purchase 13 $1,725,000 $132,692 $7,144 4.70%
    Home Improvement 5 $505,000 $101,000 $3,928 3.69%
    Refi 4 $540,000 $135,000 $3,382 4.15%

    For 2019, United's most frequently cited loan purpose was Cash Out Refi, with 21 originations. The 2nd most popular reason was Home Purchase, with 13 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 22 $3,530,000 $160,455 $5,016 4.57%
    10 Year 7 $525,000 $75,000 $3,364 3.50%
    15 Year 7 $735,000 $105,000 $3,763 3.69%
    20 Year 6 $620,000 $103,333 $4,313 4.50%
    Other 1 $65,000 $65,000 $2,882 3.60%

    For 2019, United's most frequently cited loan duration was 30 Year, with 22 originations. The 2nd most popular length was 10 Year, with 7 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1 $45,000 $45,000

    United's average total fees were $5,016, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 18 $1,780,000 $98,889
    4-5% 16 $2,600,000 $162,500
    5-6% 9 $1,095,000 $121,667

    During 2019, United's average interest rate for loans was 4.57%, while their most frequently originated rate bucket for loans was 3-4%, with 18 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 21 $3,095,000 $147,381 $4,273 4.27%
    $100,000 or less 16 $900,000 $56,250 $4,060 4.06%
    $200k-400k 6 $1,480,000 $246,667 $5,716 4.48%

    2019 saw United place emphasis on $100k-200k loans with 21 originations, totaling $3,095,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 13 $1,385,000 $106,538 $4,594 4.07%
    $100k-150k 11 $1,485,000 $135,000 $4,184 4.48%
    $75k-100k 11 $1,365,000 $124,091 $3,954 4.36%
    $50k or less 5 $475,000 $95,000 $3,745 3.99%
    $150k-250k 2 $590,000 $295,000 $7,885 3.93%
    $250k+ 1 $175,000 $175,000 $5,265 3.60%

    United lent most frequently to those with incomes in the $50k-75k range, with 13 originations. The second most popular income band? $100k-150k, with 11 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 15 $1,945,000 $129,667 $3,970 3.95%
    30-36% 14 $2,050,000 $146,429 $4,544 4.33%
    <20% 6 $490,000 $81,667 $4,625 4.28%
    37% 2 $150,000 $75,000 $2,478 3.93%
    40% 2 $260,000 $130,000 $7,052 5.38%
    39% 1 $175,000 $175,000 $9,213 4.25%
    50-60% 1 $85,000 $85,000 $2,810 3.50%
    41% 1 $205,000 $205,000 $4,253 5.25%
    36% 1 $115,000 $115,000 $2,755 4.25%

    United lent most frequently to those with DTI ratios of 20-30%, with 15 originations. The next most common DTI ratio? 30-36%, with 14 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Black 23 $2,645,000 $115,000 $4,187 4.35%
    White 17 $2,455,000 $144,412 $4,247 4.11%
    Not provided 2 $220,000 $110,000 $5,254 3.60%
    American Indian 1 $155,000 $155,000 $10,003 4.25%

    Approval Rates

    Total approvals of all applications
    85.71%

    United has an average approval rate.

    Pick Rate

    Approvals leading to origination
    79.07%

    United has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 43 $5,475,000 $127,326

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 43 $5,475,000 $127,326

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $500,000 $83,333 $3,459 3.53%
    40-60% 4 $470,000 $117,500 $2,668 3.86%
    60-80% 19 $2,825,000 $148,684 $5,107 4.25%
    80-100% 11 $1,565,000 $142,273 $4,473 4.86%
    Under 20% 3 $115,000 $38,333 $3,778 3.50%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    UNITED COMMUNITY BANK Conventional home mortgage Struggling to pay mortgage 1 100.0%