Highlands Union Bank Mortgage Rates, Fees & Info

Abingdon, VA

LEI: 54930069QAPP42MQ8417

Tax ID: 54-1246293

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Mortgage Data

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: Boone, Kingsport, Knoxville, Raleigh, and Sevierville among others. We have data for 17 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. They have an above average pick rate when compared to similar lenders.

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

160

Origination Dollar Volume (All Markets)

$33,640,000

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
Boone, NC (FHA|USDA|VA) 32 $8,260,000 $258,125 $0 0.00%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 49 $8,005,000 $163,367 $0 0.00%
Outside of Metro Areas 36 $5,520,000 $153,333 $0 0.00%
KNOXVILLE, TN (FHA|USDA|VA) 6 $3,760,000 $626,667 $0 0.00%
RALEIGH-CARY, NC (FHA|USDA|VA) 11 $2,505,000 $227,727 $0 0.00%
Sevierville, TN (FHA|USDA|VA) 7 $1,145,000 $163,571 $0 0.00%
ASHEVILLE, NC (FHA|USDA|VA) 3 $945,000 $315,000 $0 0.00%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $935,000 $935,000 $0 0.00%
JOHNSON CITY, TN (FHA|USDA|VA) 4 $480,000 $120,000 $0 0.00%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 3 $475,000 $158,333 $0 0.00%
MORRISTOWN, TN (FHA|USDA|VA) 1 $345,000 $345,000 $0 0.00%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $335,000 $335,000 $0 0.00%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $285,000 $285,000 $0 0.00%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
North Wilkesboro, NC (FHA|USDA|VA) 2 $170,000 $85,000 $0 0.00%
Bluefield, WV-VA (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
Highlands Union Bank's top markets include Boone, Kingsport, Knoxville, Raleigh, and Sevierville among others.

Their top states include:
  • North Carolina (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Florida (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: 135
    New Peoples Bank, Inc.
    Similarity Rank: 272
    STATE EMPLOYEES'
    Similarity Rank: 880
    Alcova Mortgage LLC
    Similarity Rank: 1030
    HomeTrust Bank
    Similarity Rank: 1050
    FIRST BANCORP
    Similarity Rank: 1632
    CLEARPATH LENDING
    Similarity Rank: 1820
    Bank of Tennessee
    Similarity Rank: 1827
    First National Bank of Pennsylvania
    Similarity Rank: 2115

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 160 $33,640,000 $210,250 $0 0.00%

    For 2019, Highlands Union Bank's most frequently originated type of loan was Conventional, with 160 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 88 $20,940,000 $237,955 $0 0.00%
    Refi 71 $12,455,000 $175,423 $0 0.00%
    Home Improvement 1 $245,000 $245,000 $0 0.00%

    For 2019, Highlands Union Bank's most frequently cited loan purpose was Home Purchase, with 88 originations. The 2nd most popular reason was Refi, with 71 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 160 $33,640,000 $210,250 $0 0.00%

    For 2019, Highlands Union Bank's most frequently cited loan duration was Other, with 160 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 50 $3,240,000 $64,800 $0 0.00%
    $100k-200k 49 $6,845,000 $139,694 $0 0.00%
    $200k-400k 49 $13,295,000 $271,327 $0 0.00%
    $400k-600k 7 $3,315,000 $473,571 $0 0.00%
    $600k-1MM 3 $2,465,000 $821,667 $0 0.00%
    $1MM+ 2 $4,480,000 $2,240,000 $0 0.00%

    2019 saw Highlands Union Bank place emphasis on $100,000 or less loans with 50 originations, totaling $3,240,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 41 $3,945,000 $96,220 $0 0.00%
    $75k-100k 28 $6,750,000 $241,071 $0 0.00%
    $100k-150k 27 $5,525,000 $204,630 $0 0.00%
    $50k-75k 26 $4,040,000 $155,385 $0 0.00%
    $150k-250k 15 $5,825,000 $388,333 $0 0.00%
    $250k+ 6 $1,690,000 $281,667 $0 0.00%

    Highlands Union Bank lent most frequently to those with incomes in the $50k or less range, with 41 originations. The second most popular income band? $75k-100k, with 28 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 160 $33,640,000 $210,250 $0 0.00%

    Highlands Union Bank lent most frequently to those with DTI ratios of Exempt%, with 160 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 143 $27,155,000 $189,895 $0 0.00%
    Not applicable 12 $5,380,000 $448,333 $0 0.00%
    Black 4 $860,000 $215,000 $0 0.00%
    Not provided 1 $245,000 $245,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.38%

    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
    96.88%

    Highlands Union Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 160 $33,640,000 $210,250

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 6 $3,470,000 $578,333
    Single Family (1-4 Units):Manufactured 2 $120,000 $60,000
    Single Family (1-4 Units):Site-Built 152 $30,050,000 $197,697