Union Savings And Loan Association Mortgage Rates, Fees & Info
Connersville, INLEI: 5493006VVC2EW2KLYK29
Tax ID: 35-0722275
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Mortgage Data
Review & Overview
Union Savings And Loan Association is a smaller credit union specializing in Refi, Home Purchase, and Cash Out Refi loans. Union Savings And Loan Association has a high proportion of conventional loans. Union Savings And Loan Association has a low ratio of conventional loans. Their top markets by origination volume include: Cincinnati, Connersville, Indianapolis, Decatur, and Greensburg among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)Union Savings And Loan Association 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. Union Savings And Loan Association 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 relatively high rates.
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Originations
130Origination Dollar Volume (All Markets)
$22,420,000Relative Rate
Union Savings And Loan Association's average 30 year fixed mortgage rate was
6%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.48%.
Relative Fees (Closing Costs)
Union Savings And Loan Association's average total fees/closing costs for a 30 year fixed rate
mortgage were $1,722.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
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 |
|---|---|---|---|---|---|
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 20 | $6,670,000 | $333,500 | $0 | 0.00% |
| Connersville, IN (FHA|USDA|VA) | 66 | $6,370,000 | $96,515 | $1,722 | 6.00% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 10 | $2,810,000 | $281,000 | $0 | 0.00% |
| Outside of Metro Areas | 22 | $2,740,000 | $124,545 | $0 | 0.00% |
| Decatur, IN (FHA|USDA|VA) | 2 | $1,320,000 | $660,000 | $0 | 0.00% |
| Greensburg, IN (FHA|USDA|VA) | 4 | $1,160,000 | $290,000 | $0 | 0.00% |
| New Castle, IN (FHA|USDA|VA) | 3 | $745,000 | $248,333 | $0 | 0.00% |
| Richmond, IN (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $0 | 0.00% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 129 | $22,375,000 | $173,450 | $0 | 0.00% |
| Conventional | 1 | $45,000 | $45,000 | $1,722 | 6.00% |
For 2023, Union Savings And Loan Association's most frequently originated type of loan was Conventional, with 129 originations. Their 2nd most popular type was Conventional, with 1 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 49 | $8,045,000 | $164,184 | $0 | 0.00% |
| Home Purchase | 46 | $8,500,000 | $184,783 | $1,722 | 6.00% |
| Cash Out Refi | 35 | $5,875,000 | $167,857 | $0 | 0.00% |
For 2023, Union Savings And Loan Association's most frequently cited loan purpose was Refi, with 49 originations. The 2nd most popular reason was Home Purchase, with 46 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 129 | $22,375,000 | $173,450 | $0 | 0.00% |
| 30 Year | 1 | $45,000 | $45,000 | $1,722 | 6.00% |
For 2023, Union Savings And Loan Association's most frequently cited loan duration was Other, with 129 originations. The 2nd most popular length was 30 Year, with 1 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 1 | $45,000 | $45,000 |
Union Savings And Loan Association's average total fees were $1,722, 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 |
|---|---|---|---|
| 5-6% | 1 | $45,000 | $45,000 |
During 2023, Union Savings And Loan Association's average interest rate for loans was 6.00%, while their most frequently originated rate bucket for loans was 5-6%, with 1 originations.
Loan Sizing
2023 saw Union Savings And Loan Association place emphasis on $100,000 or less loans with 66 originations, totaling $3,750,000 in origination value.
Applicant Income
Union Savings And Loan Association lent most frequently to those with incomes in the $50k or less range, with 43 originations. The second most popular income band? $100k-150k, with 15 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 129 | $22,375,000 | $173,450 | $0 | 0.00% |
| <20% | 1 | $45,000 | $45,000 | $1,722 | 6.00% |
Union Savings And Loan Association lent most frequently to those with DTI ratios of Exempt%, with 129 originations. The next most common DTI ratio? <20%, with 1 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications85.33%
Union Savings And Loan Association has an average approval rate.
Pick Rate
Approvals leading to origination75.38%
Union Savings And Loan Association has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 129 | $22,375,000 | $173,450 |
| NA | 1 | $45,000 | $45,000 |