Highlands Union Bank Mortgage Rates, Fees & Info

Abingdon, VA

LEI: 54930069QAPP42MQ8417

Tax ID: 54-1246293

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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

    Highlands Union Bank is a smaller bank specializing in Home Purchase and Refi loans. Highlands Union Bank has a high proportion of conventional loans. Their top markets by origination volume include: Kingsport, Boone, Raleigh, Sevierville, and Knoxville among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Highlands Union Bank has an above average approval rate when compared to the average across all lenders. Highlands Union Bank 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

    92

    Origination Dollar Volume (All Markets)

    $16,200,000

    Awards

    Highlands Union Bank 30 Year Conventional Loans gold Highlands Union Bank 30 Year Conventional Loans silver
    Show all (2) 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
    KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 39 $5,155,000 $132,179 $1,888 5.20%
    Boone, NC (FHA|USDA|VA) 14 $4,250,000 $303,571 $3,264 5.09%
    RALEIGH-CARY, NC (FHA|USDA|VA) 6 $1,760,000 $293,333 $2,421 4.81%
    Sevierville, TN (FHA|USDA|VA) 9 $1,715,000 $190,556 $2,477 5.24%
    Outside of Metro Areas 12 $1,300,000 $108,333 $2,268 5.29%
    KNOXVILLE, TN (FHA|USDA|VA) 4 $800,000 $200,000 $3,463 5.59%
    ASHEVILLE, NC (FHA|USDA|VA) 2 $510,000 $255,000 $2,991 4.93%
    JOHNSON CITY, TN (FHA|USDA|VA) 2 $240,000 $120,000 $2,443 4.75%
    Greeneville, TN (FHA|USDA|VA) 1 $165,000 $165,000 $2,843 4.45%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $125,000 $125,000 $2,152 5.75%
    MORRISTOWN, TN (FHA|USDA|VA) 1 $95,000 $95,000 $0 5.25%
    HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $85,000 $85,000 $0 5.61%
    Highlands Union Bank's top markets include Kingsport, Boone, Raleigh, Sevierville, and Knoxville among others.

    Their top states include:
  • North Carolina (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)

    • Similar Lenders

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

    Kingsport Press Credit Union
    Similarity Rank: 10
    New Peoples Bank, Inc.
    Similarity Rank: 182
    KNOXVILLE TVA EMPLOYEES CREDIT UNION
    Similarity Rank: 306
    STATE EMPLOYEES'
    Similarity Rank: 425
    Highlands Union Bank
    Similarity Rank: 480
    Appalachian Community Federal Credit Union
    Similarity Rank: 605
    HomeTrust Bank
    Similarity Rank: 820
    FIRST BANCORP
    Similarity Rank: 1044
    Bank of Tennessee
    Similarity Rank: 1380
    First Horizon Bank
    Similarity Rank: 1408

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 92 $16,200,000 $176,087 $2,327 5.17%

    For 2018, Highlands Union Bank's most frequently originated type of loan was Conventional, with 92 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 58 $9,790,000 $168,793 $2,342 5.09%
    Refi 32 $6,260,000 $195,625 $2,307 5.32%
    Home Improvement 2 $150,000 $75,000 $2,152 5.35%

    For 2018, Highlands Union Bank's most frequently cited loan purpose was Home Purchase, with 58 originations. The 2nd most popular reason was Refi, with 32 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 73 $13,765,000 $188,562 $2,359 5.11%
    20 Year 8 $1,450,000 $181,250 $0 5.63%
    5 Year 6 $620,000 $103,333 $0 5.61%
    10 Year 2 $110,000 $55,000 $192 4.69%
    15 Year 1 $25,000 $25,000 $0 5.44%
    3 Year 1 $75,000 $75,000 $0 4.51%
    Other 1 $155,000 $155,000 $0 5.25%

    For 2018, Highlands Union Bank's most frequently cited loan duration was 30 Year, with 73 originations. The 2nd most popular length was 20 Year, with 8 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 56 $9,370,000 $167,321
    $1k-2k 12 $2,070,000 $172,500
    $2k-3k 1 $185,000 $185,000
    $5k+ 1 $1,765,000 $1,765,000

    Highlands Union Bank's average total fees were $2,359, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 56 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 49 $10,905,000 $222,551
    5-6% 38 $4,450,000 $117,105
    6-7% 4 $390,000 $97,500
    3-4% 1 $455,000 $455,000

    During 2018, Highlands Union Bank's average interest rate for loans was 5.11%, while their most frequently originated rate bucket for loans was 4-5%, with 49 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 36 $2,270,000 $63,056 $1,569 5.34%
    $100k-200k 30 $4,630,000 $154,333 $2,262 5.16%
    $200k-400k 20 $5,120,000 $256,000 $2,800 5.02%
    $400k-600k 4 $1,780,000 $445,000 $2,479 4.69%
    $1MM+ 1 $1,765,000 $1,765,000 $12,011 4.88%
    $600k-1MM 1 $635,000 $635,000 $0 5.00%

    2018 saw Highlands Union Bank place emphasis on $100,000 or less loans with 36 originations, totaling $2,270,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 19 $3,645,000 $191,842 $2,425 5.15%
    $50k-75k 18 $2,410,000 $133,889 $1,874 5.31%
    $50k or less 18 $1,560,000 $86,667 $1,770 5.20%
    $100k-150k 17 $3,765,000 $221,471 $2,652 5.10%
    $150k-250k 12 $2,320,000 $193,333 $2,365 5.10%
    $250k+ 3 $1,955,000 $651,667 $7,427 4.76%

    Highlands Union Bank lent most frequently to those with incomes in the $75k-100k range, with 19 originations. The second most popular income band? $50k-75k, with 18 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 24 $2,800,000 $116,667 $2,009 5.16%
    30-36% 18 $2,880,000 $160,000 $2,307 5.18%
    <20% 9 $1,215,000 $135,000 $2,112 4.95%
    41% 5 $1,135,000 $227,000 $2,403 5.05%
    40% 4 $1,010,000 $252,500 $2,929 5.00%
    36% 4 $660,000 $165,000 $1,437 5.34%
    38% 3 $695,000 $231,667 $2,410 5.38%
    39% 3 $585,000 $195,000 $2,963 5.17%
    46% 2 $430,000 $215,000 $2,254 5.06%
    37% 2 $250,000 $125,000 $1,266 5.13%
    49% 1 $235,000 $235,000 $2,162 4.88%
    50-60% 1 $635,000 $635,000 $0 5.00%
    42% 1 $1,765,000 $1,765,000 $12,011 4.88%
    43% 1 $495,000 $495,000 $2,338 4.88%
    47% 1 $135,000 $135,000 $2,043 5.25%

    Highlands Union Bank lent most frequently to those with DTI ratios of 20-30%, with 24 originations. The next most common DTI ratio? 30-36%, with 18 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 87 $15,715,000 $180,632 $2,336 5.17%
    Black 2 $220,000 $110,000 $2,088 5.49%
    Asian 1 $145,000 $145,000 $2,004 4.50%
    Not applicable 2 $120,000 $60,000 $0 5.35%

    Approval Rates

    Total approvals of all applications
    100.00%

    Highlands Union Bank 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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 92 $16,200,000 $176,087

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $95,000 $95,000
    Single Family (1-4 Units):Manufactured 1 $55,000 $55,000
    Single Family (1-4 Units):Site-Built 90 $16,050,000 $178,333

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 4 $230,000 $57,500 $1,406 5.75%
    40-60% 12 $810,000 $67,500 $1,314 5.12%
    60-80% 22 $3,660,000 $166,364 $2,614 5.39%
    80-100% 49 $11,255,000 $229,694 $2,575 5.05%
    Under 20% 5 $245,000 $49,000 $1,808 5.11%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    HIGHLANDS RESIDENTIAL MORTGAGE Conventional home mortgage Trouble during payment process 1 100.0%