Union Capital Mortgage Corporation Rates, Fees & Info

COLUMBUS, OH

LEI: 549300EBXH41OP56DQ10

Tax ID: 34-1815339

5 stars - out of 5 stars, based on 33 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Union Capital Mortgage Corporation is a smaller credit union specializing in Home Purchase, Refi, and Home Improvement loans. Union Capital Mortgage Corporation has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets include Cleveland, Akron, North Port, Atlanta, and Cape Coral among others. Union Capital Mortgage Corporation 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. Union Capital Mortgage Corporation is typically an average fee lendor.


Originations

1,060

Origination Dollar Volume (All Markets)

$272,290,000

Awards

UNION CAPITAL MORTGAGE CORPORATION VA Loans silver
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Relative Rate

Union Capital Mortgage Corporation's average 30 year fixed rate mortgage of loans were 3.06%.

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

This yields a difference of -0.09%.

Relative Fees

Union Capital Mortgage Corporation's average total fees for a 30 year fixed rate mortgage are $4,683.

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
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 785 $196,185,000 $249,917 $4,348 2.92%
AKRON, OH (FHA|USDA|VA) 174 $42,300,000 $243,103 $3,901 2.97%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 11 $4,855,000 $441,364 $5,806 2.90%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 6 $3,970,000 $661,667 $4,886 3.00%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 11 $3,565,000 $324,091 $5,365 2.95%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 6 $3,060,000 $510,000 $9,332 3.06%
COLUMBUS, OH (FHA|USDA|VA) 9 $2,275,000 $252,778 $3,209 2.79%
TOLEDO, OH (FHA|USDA|VA) 6 $2,190,000 $365,000 $5,276 2.85%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 9 $1,625,000 $180,556 $3,746 2.99%
Outside of Metro Areas 4 $1,400,000 $350,000 $6,454 2.63%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 4 $1,300,000 $325,000 $3,885 2.75%
Ashtabula, OH (FHA|USDA|VA) 6 $1,270,000 $211,667 $3,678 2.90%
Sandusky, OH (FHA|USDA|VA) 3 $885,000 $295,000 $6,620 2.63%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 3 $835,000 $278,333 $5,743 2.88%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $800,000 $400,000 $6,253 2.75%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $685,000 $685,000 $11,330 3.25%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $610,000 $305,000 $564 2.88%
SAVANNAH, GA (FHA|USDA|VA) 1 $505,000 $505,000 $4,381 2.38%
CANTON-MASSILLON, OH (FHA|USDA|VA) 3 $485,000 $161,667 $3,633 2.92%
PORT ST. LUCIE, FL (FHA|USDA|VA) 2 $470,000 $235,000 $4,102 2.56%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $445,000 $445,000 $5,675 2.88%
THE VILLAGES, FL (FHA|USDA|VA) 2 $410,000 $205,000 $1,957 2.50%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $395,000 $395,000 $500 3.88%
PUNTA GORDA, FL (FHA|USDA|VA) 2 $380,000 $190,000 $3,518 2.63%
Jefferson, GA (FHA|USDA|VA) 1 $345,000 $345,000 $10,591 3.25%
Fremont, OH (FHA|USDA|VA) 1 $305,000 $305,000 $7,483 3.50%
Wooster, OH (FHA|USDA|VA) 2 $300,000 $150,000 $4,332 3.00%
New Philadelphia-Dover, OH (FHA|USDA|VA) 1 $225,000 $225,000 $4,032 3.13%
Coshocton, OH (FHA|USDA|VA) 1 $215,000 $215,000 $4,233 3.00%

Union Capital Mortgage Corporation's top markets include Cleveland, Akron, North Port, Atlanta, and Cape Coral among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 955 $248,265,000 $259,963 $4,156 2.93%
FHA 63 $12,225,000 $194,048 $6,710 2.96%
VA 41 $11,605,000 $283,049 $4,880 2.84%
USDA 1 $195,000 $195,000 $0 2.25%

For the 2021 period, Union Capital Mortgage Corporation's most frequently originated loan type of loans were Conventional, with 955 originations. Their 2nd most popular type is FHA, with 63 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 411 $110,415,000 $268,650 $5,493 3.05%
Refi 398 $97,750,000 $245,603 $3,227 2.74%
Home Improvement 251 $64,125,000 $255,478 $4,370 3.01%

For the 2021, Union Capital Mortgage Corporation's most frequently cited loan purpose of loans were Home Purchase, with 411 originations. The 2nd most popular reason of loans were Refi, with 398 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 675 $179,885,000 $266,496 $4,683 3.06%
15 Year 212 $49,280,000 $232,453 $3,707 2.56%
Other 86 $22,310,000 $259,419 $3,045 2.82%
20 Year 79 $19,675,000 $249,051 $3,560 2.87%
10 Year 8 $1,140,000 $142,500 $2,342 2.53%

For the 2021, Union Capital Mortgage Corporation's most frequently cited loan length of loans were 30 Year, with 675 originations. The 2nd most popular length of loans were 15 Year, with 212 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 639 $147,455,000 $230,759
$<1k 196 $54,150,000 $276,276
$2k-3k 78 $19,130,000 $245,256
$3k-4k 54 $15,660,000 $290,000
$5k+ 28 $17,890,000 $638,929

$4,683 of loans were Union Capital Mortgage Corporation's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 639 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 552 $142,430,000 $258,025
3-4% 333 $89,055,000 $267,432
<2.5% 168 $39,810,000 $236,964
4-5% 6 $810,000 $135,000
5-6% 1 $185,000 $185,000

During 2021, Union Capital Mortgage Corporation's average interest rate of loans were 3.06%, while their most frequently originated rate bucket of loans were 2.5-3%, with 552 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 461 $128,055,000 $277,777 $4,350 2.90%
$100k-200k 384 $58,380,000 $152,031 $3,772 2.94%
$400k-600k 125 $59,615,000 $476,920 $5,602 2.89%
$100,000 or less 69 $5,835,000 $84,565 $3,492 2.95%
$600k-1MM 15 $11,795,000 $786,333 $8,083 3.12%
$1MM+ 6 $8,610,000 $1,435,000 $16,356 3.35%

2021 saw Union Capital Mortgage Corporation place emphasis on $200k-400k loans with 461 originations, totaling $128,055,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 242 $65,630,000 $271,198 $4,606 2.96%
$150k-250k 208 $66,690,000 $320,625 $4,313 2.89%
$50k-75k 207 $35,585,000 $171,908 $4,054 2.94%
$75k-100k 161 $33,925,000 $210,714 $4,229 2.94%
$50k or less 130 $19,450,000 $149,615 $3,717 2.93%
$250k+ 111 $50,715,000 $456,892 $5,137 2.87%

Union Capital Mortgage Corporation lent most frequently to those with incomes in the $100k-150k range, with 242 originations. The second most popular income band? $150k-250k, with 208 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 272 $74,910,000 $275,404 $4,110 2.89%
30-36% 191 $49,265,000 $257,932 $4,291 2.94%
<20% 124 $33,470,000 $269,919 $3,841 2.77%
36% 44 $12,650,000 $287,500 $5,164 3.04%
40% 42 $9,230,000 $219,762 $4,793 2.97%
39% 38 $11,120,000 $292,632 $6,297 3.05%
41% 37 $7,975,000 $215,541 $3,812 2.99%
43% 36 $8,030,000 $223,056 $5,030 3.09%
37% 34 $8,750,000 $257,353 $4,404 2.98%
44% 33 $8,555,000 $259,242 $4,792 2.96%
42% 30 $9,010,000 $300,333 $4,163 3.00%
45% 29 $6,925,000 $238,793 $4,820 3.02%
47% 26 $5,940,000 $228,462 $4,279 2.87%
38% 25 $5,415,000 $216,600 $4,187 3.12%
48% 21 $4,185,000 $199,286 $3,998 2.82%
46% 20 $4,270,000 $213,500 $3,879 2.94%
49% 19 $3,895,000 $205,000 $4,586 3.04%
50-60% 12 $2,900,000 $241,667 $6,537 2.88%

Union Capital Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 272 originations. The next most common DTI ratio? 30-36%, with 191 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,007 $260,375,000 $258,565 $4,311 2.91%
Black 25 $4,465,000 $178,600 $4,486 3.13%
Not provided 19 $4,115,000 $216,579 $4,979 3.15%
Asian 9 $3,335,000 $370,556 $4,450 2.94%

Approval Rates

Total approvals of all applications
96.54%

Union Capital Mortgage Corporation 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
84.22%

Union Capital Mortgage Corporation has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 1,060 $272,290,000 $256,877

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,060 $272,290,000 $256,877

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 29 $4,395,000 $151,552 $3,095 2.76%
40-60% 133 $29,595,000 $222,519 $3,147 2.63%
60-80% 498 $133,370,000 $267,811 $4,033 2.96%
80-100% 394 $103,390,000 $262,411 $5,211 2.99%
Over 100% 4 $1,390,000 $347,500 $11,931 2.84%
Under 20% 2 $150,000 $75,000 $564 2.94%