University Lending Group Mortgage Rates, Fees & Info

ANN ARBOR, MI

LEI: 549300DZCP6EQ7DCSD79

Tax ID: 26-1717830

4.5 stars - out of 5 stars, based on 68 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

University Lending Group is a small mortgage company specializing in Home Purchase loans. University Lending Group 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 include Pensacola, Tallahassee, Ann Arbor, Crestview, and Detroit among others. University Lending Group has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. University Lending Group is typically an average fee lendor.


Originations

4,641

Origination Dollar Volume (All Markets)

$1,180,315,000
Show all (6) awards

Relative Rate

University Lending Group 's average 30 year fixed rate mortgage of loans were 3.17%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.02%.

Relative Fees

University Lending Group 's average total fees for a 30 year fixed rate mortgage are $5,160.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 882 $246,490,000 $279,467 $5,988 3.04%
TALLAHASSEE, FL (FHA|USDA|VA) 941 $217,455,000 $231,089 $5,307 3.12%
ANN ARBOR, MI (FHA|USDA|VA) 644 $173,580,000 $269,534 $3,525 3.09%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 381 $119,705,000 $314,186 $7,141 2.97%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 569 $114,875,000 $201,889 $3,787 3.24%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 375 $95,225,000 $253,933 $4,466 3.20%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 70 $30,910,000 $441,571 $4,580 3.65%
Crawfordsville, IN (FHA|USDA|VA) 153 $24,285,000 $158,725 $3,681 3.12%
Outside of Metro Areas 88 $17,970,000 $204,205 $5,303 3.26%
SAN ANGELO, TX (FHA|USDA|VA) 61 $14,155,000 $232,049 $6,881 3.15%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 28 $9,100,000 $325,000 $5,320 3.30%
JACKSON, MI (FHA|USDA|VA) 38 $6,580,000 $173,158 $3,808 3.29%
JACKSONVILLE, FL (FHA|USDA|VA) 19 $6,175,000 $325,000 $5,221 3.11%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 10 $5,940,000 $594,000 $7,283 3.80%
Adrian, MI (FHA|USDA|VA) 28 $5,440,000 $194,286 $3,678 3.09%
MONROE, MI (FHA|USDA|VA) 28 $5,300,000 $189,286 $4,070 3.26%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 13 $5,165,000 $397,308 $0 4.32%
PANAMA CITY, FL (FHA|USDA|VA) 18 $4,980,000 $276,667 $5,029 2.94%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 19 $4,975,000 $261,842 $3,501 3.16%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 12 $4,020,000 $335,000 $5,297 3.89%
FLINT, MI (FHA|USDA|VA) 22 $3,650,000 $165,909 $3,554 3.14%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 23 $3,545,000 $154,130 $3,641 3.24%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 8 $2,570,000 $321,250 $5,493 2.94%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 10 $2,540,000 $254,000 $7,604 2.83%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 4 $2,300,000 $575,000 $0 4.60%
LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 8 $2,210,000 $276,250 $3,758 3.58%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 8 $2,140,000 $267,500 $6,554 3.76%
PUNTA GORDA, FL (FHA|USDA|VA) 5 $2,085,000 $417,000 $7,037 3.73%
Traverse City, MI (FHA|USDA|VA) 7 $1,995,000 $285,000 $3,662 3.05%
SAVANNAH, GA (FHA|USDA|VA) 3 $1,795,000 $598,333 $3,550 3.60%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 11 $1,795,000 $163,182 $3,029 3.32%
MONTGOMERY, AL (FHA|USDA|VA) 3 $1,555,000 $518,333 $6,660 2.83%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 4 $1,530,000 $382,500 $4,976 3.50%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 5 $1,415,000 $283,000 $3,779 4.03%
KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 5 $1,315,000 $263,000 $3,109 3.15%
SALT LAKE CITY, UT (FHA|USDA|VA) 2 $1,260,000 $630,000 $0 4.48%
GAINESVILLE, FL (FHA|USDA|VA) 5 $1,245,000 $249,000 $5,472 3.26%
COLORADO SPRINGS, CO (FHA|USDA|VA) 3 $1,235,000 $411,667 $0 4.26%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 3 $1,125,000 $375,000 $3,854 3.98%
OCALA, FL (FHA|USDA|VA) 4 $1,030,000 $257,500 $5,592 3.49%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 3 $1,025,000 $341,667 $3,792 3.93%
LYNCHBURG, VA (FHA|USDA|VA) 5 $1,015,000 $203,000 $0 4.47%
Thomasville, GA (FHA|USDA|VA) 4 $960,000 $240,000 $7,520 2.94%
Kill Devil Hills, NC (FHA|USDA|VA) 2 $950,000 $475,000 $0 4.55%
LUBBOCK, TX (FHA|USDA|VA) 2 $950,000 $475,000 $11,348 2.63%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 3 $945,000 $315,000 $9,561 3.29%
MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 4 $930,000 $232,500 $4,672 3.16%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $930,000 $465,000 $12,541 3.31%
THE VILLAGES, FL (FHA|USDA|VA) 4 $880,000 $220,000 $5,473 3.50%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 3 $845,000 $281,667 $3,393 2.83%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 3 $815,000 $271,667 $6,837 3.29%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 2 $770,000 $385,000 $3,866 3.71%
TERRE HAUTE, IN (FHA|USDA|VA) 3 $655,000 $218,333 $4,918 3.08%
PORT ST. LUCIE, FL (FHA|USDA|VA) 3 $645,000 $215,000 $7,139 2.96%
RALEIGH-CARY, NC (FHA|USDA|VA) 2 $630,000 $315,000 $3,772 3.64%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 2 $620,000 $310,000 $0 4.71%
HUNTSVILLE, AL (FHA|USDA|VA) 2 $600,000 $300,000 $0 4.55%
Boone, NC (FHA|USDA|VA) 1 $565,000 $565,000 $5,071 3.25%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 2 $550,000 $275,000 $3,458 4.38%
NILES, MI (FHA|USDA|VA) 1 $545,000 $545,000 $2,526 2.63%
WACO, TX (FHA|USDA|VA) 2 $530,000 $265,000 $8,119 3.06%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 2 $480,000 $240,000 $5,581 3.43%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 2 $470,000 $235,000 $0 4.31%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 3 $455,000 $151,667 $6,051 4.04%
Lake City, FL (FHA|USDA|VA) 2 $440,000 $220,000 $6,397 3.94%
Bainbridge, GA (FHA|USDA|VA) 2 $430,000 $215,000 $5,729 3.06%
TUSCALOOSA, AL (FHA|USDA|VA) 1 $405,000 $405,000 $3,689 2.75%
MIDLAND, TX (FHA|USDA|VA) 1 $405,000 $405,000 $5,306 3.38%
WILMINGTON, NC (FHA|USDA|VA) 2 $400,000 $200,000 $2,264 3.88%
MOBILE, AL (FHA|USDA|VA) 1 $385,000 $385,000 $3,363 4.50%
Corsicana, TX (FHA|USDA|VA) 1 $375,000 $375,000 $12,781 2.75%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 2 $350,000 $175,000 $2,953 3.50%
ABILENE, TX (FHA|USDA|VA) 1 $345,000 $345,000 $13,786 2.75%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $335,000 $335,000 $0 4.05%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $325,000 $325,000 $0 4.74%
Elizabeth City, NC (FHA|USDA|VA) 1 $325,000 $325,000 $0 3.13%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 2 $320,000 $160,000 $5,413 3.00%
Kerrville, TX (FHA|USDA|VA) 1 $305,000 $305,000 $6,787 3.13%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $295,000 $295,000 $5,474 3.63%
Ludington, MI (FHA|USDA|VA) 1 $285,000 $285,000 $3,058 3.13%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 2 $280,000 $140,000 $5,049 2.81%
Bedford, IN (FHA|USDA|VA) 1 $275,000 $275,000 $2,311 3.50%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $275,000 $275,000 $0 5.15%
WINSTON-SALEM, NC (FHA|USDA|VA) 1 $265,000 $265,000 $0 4.49%
Frankfort, IN (FHA|USDA|VA) 2 $260,000 $130,000 $5,900 3.19%
Houghton, MI (FHA|USDA|VA) 3 $245,000 $81,667 $3,012 3.04%
BLOOMINGTON, IN (FHA|USDA|VA) 1 $245,000 $245,000 $11,880 3.13%
Holland, MI (FHA|USDA|VA) 1 $235,000 $235,000 $3,118 2.50%
ASHEVILLE, NC (FHA|USDA|VA) 1 $235,000 $235,000 $6,390 2.88%
SPARTANBURG, SC (FHA|USDA|VA) 1 $235,000 $235,000 $0 4.42%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $225,000 $225,000 $6,995 2.88%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $215,000 $215,000 $0 4.49%
Sault Ste. Marie, MI (FHA|USDA|VA) 1 $215,000 $215,000 $2,750 3.38%
LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) 1 $205,000 $205,000 $0 4.31%
FAYETTEVILLE, NC (FHA|USDA|VA) 1 $205,000 $205,000 $7,148 2.75%
MACON-BIBB COUNTY, GA (FHA|USDA|VA) 1 $185,000 $185,000 $4,711 3.13%
Marquette, MI (FHA|USDA|VA) 1 $185,000 $185,000 $3,557 2.88%
Enterprise, AL (FHA|USDA|VA) 1 $175,000 $175,000 $5,575 3.00%
Atmore, AL (FHA|USDA|VA) 1 $175,000 $175,000 $3,762 3.25%
VALDOSTA, GA (FHA|USDA|VA) 1 $155,000 $155,000 $5,498 2.88%
BATTLE CREEK, MI (FHA|USDA|VA) 1 $145,000 $145,000 $2,734 4.13%
Ozark, AL (FHA|USDA|VA) 1 $145,000 $145,000 $4,905 3.00%
SHERMAN-DENISON, TX (FHA|USDA|VA) 1 $145,000 $145,000 $5,371 3.38%
KNOXVILLE, TN (FHA|USDA|VA) 1 $135,000 $135,000 $2,737 3.50%
Eufaula, AL-GA (FHA|USDA|VA) 1 $135,000 $135,000 $5,343 2.88%
Cadillac, MI (FHA|USDA|VA) 1 $135,000 $135,000 $2,619 2.75%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $135,000 $135,000 $0 4.99%
FORT WAYNE, IN (FHA|USDA|VA) 1 $125,000 $125,000 $2,283 3.50%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 1 $125,000 $125,000 $3,040 3.38%
Auburn, IN (FHA|USDA|VA) 1 $115,000 $115,000 $3,017 3.38%
KANKAKEE, IL (FHA|USDA|VA) 1 $105,000 $105,000 $4,966 3.13%
Lumberton, NC (FHA|USDA|VA) 1 $95,000 $95,000 $2,811 3.13%
DANVILLE, IL (FHA|USDA|VA) 1 $85,000 $85,000 $4,071 3.00%
BAY CITY, MI (FHA|USDA|VA) 1 $55,000 $55,000 $0 4.75%

University Lending Group 's top markets include Pensacola, Tallahassee, Ann Arbor, Crestview, and Detroit among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 3,099 $774,805,000 $250,018 $3,855 3.25%
VA 765 $249,605,000 $326,281 $7,539 2.83%
FHA 594 $124,180,000 $209,057 $7,294 3.08%
USDA 183 $31,725,000 $173,361 $5,180 2.96%

For the 2021 period, University Lending Group 's most frequently originated loan type of loans were Conventional, with 3,099 originations. Their 2nd most popular type is VA, with 765 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 3,330 $859,800,000 $258,198 $5,495 3.15%
Refi 766 $172,850,000 $225,653 $3,281 2.97%
Cash Out Refi 520 $143,280,000 $275,538 $4,318 3.39%
Other 22 $4,110,000 $186,818 $3,145 3.36%
Home Improvement 3 $275,000 $91,667 $2,873 2.92%

For the 2021, University Lending Group 's most frequently cited loan purpose of loans were Home Purchase, with 3,330 originations. The 2nd most popular reason of loans were Refi, with 766 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 4,136 $1,066,240,000 $257,795 $5,160 3.17%
15 Year 298 $61,190,000 $205,336 $3,180 2.64%
20 Year 124 $30,490,000 $245,887 $3,125 3.12%
30+ year 47 $15,885,000 $337,979 $8,199 4.26%
Other 20 $3,980,000 $199,000 $4,134 3.32%
10 Year 16 $2,530,000 $158,125 $2,649 2.56%

For the 2021, University Lending Group 's most frequently cited loan length of loans were 30 Year, with 4,136 originations. The 2nd most popular length of loans were 15 Year, with 298 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 2,127 $492,535,000 $231,563
$<1k 1,554 $426,610,000 $274,524
$2k-3k 436 $100,520,000 $230,550
$3k-4k 231 $62,715,000 $271,494
$5k+ 79 $29,155,000 $369,051

$5,160 of loans were University Lending Group 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 2,127 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 2,126 $505,230,000 $237,643
2.5-3% 1,910 $497,390,000 $260,414
<2.5% 351 $98,645,000 $281,040
4-5% 247 $75,705,000 $306,498
5-6% 7 $3,345,000 $477,857

During 2021, University Lending Group 's average interest rate of loans were 3.17%, while their most frequently originated rate bucket of loans were 3-4%, with 2,126 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 2,402 $669,720,000 $278,818 $5,385 3.09%
$100k-200k 1,510 $232,700,000 $154,106 $4,016 3.21%
$400k-600k 414 $195,650,000 $472,585 $6,613 3.15%
$100,000 or less 236 $18,900,000 $80,085 $3,055 3.22%
$600k-1MM 68 $49,590,000 $729,265 $9,810 3.34%
$1MM+ 11 $13,755,000 $1,250,455 $8,627 3.70%

2021 saw University Lending Group place emphasis on $200k-400k loans with 2,402 originations, totaling $669,720,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 1,318 $283,970,000 $215,455 $5,196 3.13%
$100k-150k 878 $271,690,000 $309,442 $5,113 3.16%
$50k or less 864 $131,450,000 $152,141 $4,339 3.17%
$75k-100k 850 $222,690,000 $261,988 $5,249 3.11%
$150k-250k 509 $179,825,000 $353,291 $5,214 3.23%
$250k+ 141 $69,465,000 $492,660 $5,037 3.30%

University Lending Group lent most frequently to those with incomes in the $50k-75k range, with 1,318 originations. The second most popular income band? $100k-150k, with 878 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 908 $220,550,000 $242,896 $4,203 3.13%
30-36% 885 $224,985,000 $254,220 $4,798 3.19%
50-60% 286 $81,850,000 $286,189 $7,626 2.96%
<20% 258 $64,570,000 $250,271 $3,823 3.05%
42% 203 $55,035,000 $271,108 $5,341 3.33%
39% 197 $51,885,000 $263,376 $5,023 3.20%
41% 195 $49,015,000 $251,359 $4,991 3.23%
40% 190 $47,180,000 $248,316 $4,963 3.20%
43% 175 $44,855,000 $256,314 $5,066 3.22%
44% 174 $42,040,000 $241,609 $5,047 3.20%
38% 163 $41,935,000 $257,270 $5,099 3.22%
36% 160 $38,690,000 $241,813 $5,133 3.17%
37% 148 $37,510,000 $253,446 $4,571 3.19%
49% 140 $37,050,000 $264,643 $5,753 3.23%
45% 131 $31,415,000 $239,809 $5,399 3.09%
47% 118 $28,380,000 $240,508 $5,334 3.16%
46% 117 $30,675,000 $262,179 $5,937 3.01%
48% 105 $27,235,000 $259,381 $5,412 3.06%
>60% 25 $8,995,000 $359,800 $8,540 2.93%

University Lending Group lent most frequently to those with DTI ratios of 20-30%, with 908 originations. The next most common DTI ratio? 30-36%, with 885 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 3,665 $944,635,000 $257,745 $4,925 3.15%
Black 494 $109,790,000 $222,247 $5,649 3.14%
Not provided 240 $64,360,000 $268,167 $5,014 3.24%
Asian 202 $51,670,000 $255,792 $4,503 3.07%
American Indian 32 $7,460,000 $233,125 $5,266 3.35%
Native Hawaiian 7 $2,085,000 $297,857 $5,957 2.77%
Other Asian 1 $315,000 $315,000 $13,016 2.63%

Approval Rates

Total approvals of all applications
93.84%

University Lending Group has an average approval rate.

Pick Rate

Approvals leading to origination
83.80%

University Lending Group has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 4,641 $1,180,315,000 $254,323

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
4,641 $1,180,315,000 $254,323

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 122 $16,460,000 $134,918 $3,050 2.98%
40-60% 363 $79,525,000 $219,077 $3,326 3.01%
60-80% 1,182 $299,970,000 $253,782 $3,924 3.22%
80-100% 2,627 $678,105,000 $258,129 $5,144 3.19%
Over 100% 275 $88,465,000 $321,691 $11,219 2.85%
Under 20% 6 $460,000 $76,667 $2,624 2.81%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
UNIVERSAL LENDING CORP. Conventional home mortgage Struggling to pay mortgage 1 100.0%