United Bank Mortgage Rates, Fees & Info
Springdale, ARLEI: 549300C6XY8GTVR2TV60
Tax ID: 71-0512514
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Mortgage Data
Review & Overview
United Bank is a smaller bank specializing in Home Purchase loans. United Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Fayetteville, Fort Smith, Joplin, Denver, and Bennington among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)United Bank 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 is typically an average 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.80% | 5/27/23 |
| 30 Year Conventional Refi | 6.51% | 5/27/23 |
| 30 Year Cash-out Refi | 6.64% | 5/27/23 |
| 30 Year FHA Purchase | 6.91% | 5/27/23 |
| 30 Year VA Purchase | 5.65% | 5/27/23 |
| 30 Year VA Refi | 6.52% | 5/27/23 |
| 30 Year USDA Purchase | 7.27% | 5/27/23 |
| 15 Year Conventional Purchase | 5.89% | 5/27/23 |
| 15 Year Conventional Refi | 6.04% | 5/27/23 |
| 15 Year Cash-out Refi | 6.04% | 5/27/23 |
| 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 Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
141Origination Dollar Volume (All Markets)
$52,735,000Relative Rate
United Bank's average 30 year fixed mortgage rate was
4.57%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.19%.
Relative Fees (Closing Costs)
United Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,827.
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 $4,750.
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 |
|---|---|---|---|---|---|
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 125 | $48,245,000 | $385,960 | $4,559 | 4.99% |
| FORT SMITH, AR-OK (FHA|USDA|VA) | 6 | $1,160,000 | $193,333 | $2,929 | 4.88% |
| JOPLIN, MO (FHA|USDA|VA) | 4 | $1,130,000 | $282,500 | $4,402 | 6.29% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $785,000 | $785,000 | $2,995 | 3.50% |
| Bennington, VT (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $5,342 | 5.63% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $2,796 | 3.00% |
| TULSA, OK (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $8,588 | 5.50% |
| Outside of Metro Areas | 1 | $205,000 | $205,000 | $0 | 7.01% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 4.70% |
Product Mix
For 2022, United Bank's most frequently originated type of loan was Conventional, with 126 originations. Their 2nd most popular type was FHA, with 11 originations.
Loan Reason
For 2022, United Bank's most frequently cited loan purpose was Home Purchase, with 114 originations. The 2nd most popular reason was Refi, with 19 originations.
Loan Duration/Length
For 2022, United Bank's most frequently cited loan duration was 30 Year, with 71 originations. The 2nd most popular length was 20 Year, with 41 originations.
Origination Fees/Closing Costs
United Bank's average total fees were $4,827, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 45 originations.
Interest Rates
During 2022, United Bank's average interest rate for loans was 4.57%, while their most frequently originated rate bucket for loans was 4-5%, with 33 originations.
Loan Sizing
2022 saw United Bank place emphasis on $200k-400k loans with 67 originations, totaling $18,555,000 in origination value.
Applicant Income
United Bank lent most frequently to those with incomes in the $150k-250k range, with 26 originations. The second most popular income band? $50k-75k, with 20 originations.
Applicant Debt to Income Ratio
United Bank lent most frequently to those with DTI ratios of 30-36%, with 18 originations. The next most common DTI ratio? 20-30%, with 15 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.24%
United 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 origination86.52%
United Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 141 | $52,735,000 | $374,007 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| UNITED COMMUNITY BANK | Conventional home mortgage | Closing on a mortgage | 1 | 100.0% |