United Bank Of Union Mortgage Rates, Fees & Info

Union, MO

LEI: 5493008WWKO0RD22RN65

Tax ID: 43-0560860

5 stars - Updated: 6/9/24 - out of 5 stars, based on 15 reviews

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

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Mortgage Data

Review & Overview

United Bank Of Union is a smaller bank specializing in Home Purchase and Refi loans. United Bank Of Union has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: St. Louis, Rolla, Joplin, Fort Leonard Wood, and Springfield among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

United Bank Of Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. United Bank Of Union 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.

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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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.49% 6/9/24
30 Year Conventional Refi 6.61% 6/9/24
30 Year Cash-out Refi 6.27% 6/9/24
30 Year USDA Purchase 7.19% 6/9/24
15 Year Conventional Purchase 5.76% 6/9/24
15 Year Conventional Refi 5.70% 6/9/24
15 Year Cash-out Refi 5.70% 6/9/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

United Bank Of Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from United Bank Of Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

211

Origination Dollar Volume (All Markets)

$53,605,000

Awards

United Bank of Union 30 Year Conventional Loans gold United Bank of Union 30 Year Conventional Loans gold United Bank of Union 30 Year Conventional Loans silver United Bank of Union 30 Year Conventional Loans bronze
Show all (4) awards

Relative Rate

United Bank Of Union's average 30 year fixed mortgage rate was 6.49%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.01%.

Relative Fees (Closing Costs)

United Bank Of Union's average total fees/closing costs for a 30 year fixed rate mortgage were $2,435.

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
ST. LOUIS, MO-IL (FHA|USDA|VA) 172 $33,720,000 $196,047 $2,127 6.77%
Outside of Metro Areas 30 $8,150,000 $271,667 $2,815 6.75%
Rolla, MO (FHA|USDA|VA) 1 $5,465,000 $5,465,000 $0 6.50%
JOPLIN, MO (FHA|USDA|VA) 1 $5,125,000 $5,125,000 $0 6.50%
Fort Leonard Wood, MO (FHA|USDA|VA) 2 $370,000 $185,000 $0 7.50%
SPRINGFIELD, MO (FHA|USDA|VA) 1 $295,000 $295,000 $2,679 7.00%
Branson, MO (FHA|USDA|VA) 1 $255,000 $255,000 $32 6.75%
THE VILLAGES, FL (FHA|USDA|VA) 1 $135,000 $135,000 $2,140 6.75%
Farmington, MO (FHA|USDA|VA) 1 $85,000 $85,000 $636 5.88%
Mexico, MO (FHA|USDA|VA) 1 $5,000 $5,000 $1,065 6.88%
United Bank Of Union's top markets include St. Louis, Rolla, Joplin, Fort Leonard Wood, and Springfield among others.

Their top states include:
  • Missouri (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Similar Lenders

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

    1ST MIDAMERICA
    Similarity Rank: 286
    CNB Bank And Trust, N.A.
    Similarity Rank: 323
    FIRST COMMUNITY
    Similarity Rank: 336
    First National Bank of Waterloo
    Similarity Rank: 340
    United Bank of Union
    Similarity Rank: 360
    VANTAGE Credit Union
    Similarity Rank: 371
    Bank of Hillsboro
    Similarity Rank: 459
    ALLIANCE CREDIT UNION
    Similarity Rank: 520
    ALLTRU Federal Credit Union
    Similarity Rank: 573

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 208 $53,170,000 $255,625 $2,160 6.77%
    USDA 3 $435,000 $145,000 $3,735 6.67%

    For 2023, United Bank Of Union's most frequently originated type of loan was Conventional, with 208 originations. Their 2nd most popular type was USDA, with 3 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 137 $31,775,000 $231,934 $2,758 6.73%
    Refi 48 $17,820,000 $371,250 $1,022 6.56%
    Home Improvement 9 $225,000 $25,000 $596 7.49%
    Other 9 $655,000 $72,778 $2,066 7.57%
    Cash Out Refi 8 $3,130,000 $391,250 $1,322 6.95%

    For 2023, United Bank Of Union's most frequently cited loan purpose was Home Purchase, with 137 originations. The 2nd most popular reason was Refi, with 48 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 122 $29,930,000 $245,328 $2,435 6.49%
    20 Year 29 $4,325,000 $149,138 $1,697 7.07%
    Other 25 $3,065,000 $122,600 $2,294 7.14%
    15 Year 16 $1,830,000 $114,375 $1,208 7.26%
    1 Year 8 $2,240,000 $280,000 $2,369 7.11%
    3 Year 4 $11,640,000 $2,910,000 $470 6.75%
    10 Year 4 $220,000 $55,000 $814 7.69%
    5 Year 3 $355,000 $118,333 $537 7.25%

    For 2023, United Bank Of Union's most frequently cited loan duration was 30 Year, with 122 originations. The 2nd most popular length was 20 Year, with 29 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 126 $23,730,000 $188,333
    $1k-2k 12 $3,010,000 $250,833
    $2k-3k 5 $1,465,000 $293,000
    $3k-4k 2 $700,000 $350,000
    $4k-5k 2 $890,000 $445,000
    $5k+ 1 $525,000 $525,000

    United Bank Of Union's average total fees were $2,435, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 126 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 102 $32,390,000 $317,549
    5-6% 49 $9,925,000 $202,551
    7-8% 46 $9,700,000 $210,870
    Over 8% 12 $1,220,000 $101,667
    <2.5% 1 $55,000 $55,000
    4-5% 1 $315,000 $315,000

    During 2023, United Bank Of Union's average interest rate for loans was 6.49%, while their most frequently originated rate bucket for loans was 6-7%, with 102 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 78 $11,600,000 $148,718 $2,009 6.63%
    $100,000 or less 55 $3,065,000 $55,727 $1,192 7.02%
    $200k-400k 54 $14,310,000 $265,000 $2,755 6.71%
    $400k-600k 15 $6,895,000 $459,667 $3,878 6.60%
    $600k-1MM 5 $3,715,000 $743,000 $5,170 7.13%
    $1MM+ 4 $14,020,000 $3,505,000 $866 6.88%

    2023 saw United Bank Of Union place emphasis on $100k-200k loans with 78 originations, totaling $11,600,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 49 $5,955,000 $121,531 $2,090 6.70%
    $150k-250k 31 $8,125,000 $262,097 $2,219 6.64%
    $100k-150k 29 $6,195,000 $213,621 $2,511 6.73%
    $75k-100k 26 $4,230,000 $162,692 $1,816 6.62%
    $50k or less 19 $1,685,000 $88,684 $1,637 6.67%
    $250k+ 14 $6,790,000 $485,000 $3,834 6.77%

    United Bank Of Union lent most frequently to those with incomes in the $50k-75k range, with 49 originations. The second most popular income band? $150k-250k, with 31 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 48 $8,350,000 $173,958 $2,084 6.65%
    30-36% 31 $6,655,000 $214,677 $2,756 6.73%
    <20% 22 $5,610,000 $255,000 $2,215 6.57%
    39% 8 $940,000 $117,500 $1,728 7.00%
    40% 7 $1,865,000 $266,429 $1,800 6.61%
    36% 6 $1,340,000 $223,333 $3,110 6.60%
    37% 6 $450,000 $75,000 $1,253 6.81%
    41% 5 $1,025,000 $205,000 $2,303 6.45%
    50-60% 5 $455,000 $91,000 $1,225 6.93%
    38% 4 $1,120,000 $280,000 $2,600 6.27%
    44% 4 $1,050,000 $262,500 $2,337 6.53%
    45% 4 $670,000 $167,500 $1,358 6.72%
    46% 4 $1,240,000 $310,000 $3,076 6.78%
    42% 3 $485,000 $161,667 $2,203 6.71%
    43% 3 $535,000 $178,333 $1,749 6.19%
    48% 2 $610,000 $305,000 $6,715 8.13%
    >60% 2 $130,000 $65,000 $0 6.88%

    United Bank Of Union lent most frequently to those with DTI ratios of 20-30%, with 48 originations. The next most common DTI ratio? 30-36%, with 31 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 170 $31,540,000 $185,529 $2,110 6.65%
    Not applicable 33 $19,575,000 $593,182 $0 7.30%
    Not provided 6 $1,940,000 $323,333 $3,790 6.77%
    Asian 1 $465,000 $465,000 $5,228 7.00%
    Black 1 $85,000 $85,000 $2,785 8.25%

    Approval Rates

    Total approvals of all applications
    100.00%

    United Bank Of Union 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
    89.57%

    United Bank Of Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 211 $53,605,000 $254,052

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    211 $53,605,000 $254,052

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 31 $5,455,000 $175,968 $1,834 6.97%
    40-60% 32 $15,170,000 $474,063 $1,856 6.77%
    60-80% 84 $19,390,000 $230,833 $2,827 6.74%
    80-100% 40 $11,070,000 $276,750 $2,222 6.48%
    Over 100% 1 $245,000 $245,000 $3,697 7.50%
    Under 20% 23 $2,275,000 $98,913 $953 7.05%