United Mortgage Rates, Fees & Info
Chicago, ILLEI: 549300631WQW7LPEC356
Tax ID: 36-1894017
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
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 a below average approval rate when compared to the average across all 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
6Origination Dollar Volume (All Markets)
$750,000Top 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) | 6 | $750,000 | $125,000 | $4,831 | 3.89% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 6 | $750,000 | $125,000 | $4,831 | 3.89% |
For 2020, United's most frequently originated type of loan was Conventional, with 6 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 4 | $460,000 | $115,000 | $3,846 | 3.84% |
| Home Purchase | 1 | $155,000 | $155,000 | $6,546 | 4.25% |
| Refi | 1 | $135,000 | $135,000 | $7,057 | 3.75% |
For 2020, United's most frequently cited loan purpose was Cash Out Refi, with 4 originations. The 2nd most popular reason was Home Purchase, with 1 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 5 | $665,000 | $133,000 | $5,163 | 3.95% |
| 15 Year | 1 | $85,000 | $85,000 | $3,168 | 3.60% |
For 2020, United's most frequently cited loan duration was 30 Year, with 5 originations. The 2nd most popular length was 15 Year, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 4 | $560,000 | $140,000 |
| 4-5% | 2 | $190,000 | $95,000 |
During 2020, United's average interest rate for loans was 3.95%, while their most frequently originated rate bucket for loans was 3-4%, with 4 originations.
Loan Sizing
2020 saw United place emphasis on $100k-200k loans with 3 originations, totaling $425,000 in origination value.
Applicant Income
United lent most frequently to those with incomes in the $75k-100k range, with 3 originations. The second most popular income band? $150k-250k, with 1 originations.
Applicant Debt to Income Ratio
United lent most frequently to those with DTI ratios of 30-36%, with 2 originations. The next most common DTI ratio? 37%, with 1 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Black | 5 | $595,000 | $119,000 | $4,488 | 3.82% |
| White | 1 | $155,000 | $155,000 | $6,546 | 4.25% |
Approval Rates
Total approvals of all applications60.00%
United has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 6 | $750,000 | $125,000 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 6 | $750,000 | $125,000 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| UNITED COMMUNITY BANK | Home equity loan or line of credit (HELOC) | Incorrect information on your report | 1 | 16.7% |
| UNITED COMMUNITY BANK | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 16.7% |
| UNITED COMMUNITY BANK | Conventional home mortgage | Closing on a mortgage | 1 | 16.7% |
| UNITED COMMUNITY BANK | Conventional home mortgage | Trouble during payment process | 3 | 50.0% |