Union Capital Mortgage Corporation Rates, Fees & Info
COLUMBUS, OHLEI: 549300EBXH41OP56DQ10
Tax ID: 34-1815339
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Mortgage Data
Review & 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 by origination volume include: Cleveland, Akron, North Port, Atlanta, and Cape Coral among others. We have data for 29 markets. (Some data included below & more in-depth data is available with an active subscription.)Union Capital Mortgage Corporation 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. Union Capital Mortgage Corporation 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 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 | 6.64% | 4/21/24 |
| 30 Year Conventional Refi | 6.42% | 4/21/24 |
| 30 Year FHA Purchase | 7.50% | 4/21/24 |
| 30 Year FHA Refi | 6.81% | 4/21/24 |
| 30 Year VA Purchase | 6.07% | 4/21/24 |
| 30 Year VA Refi | 6.27% | 4/21/24 |
| 15 Year Conventional Purchase | 6.10% | 4/21/24 |
| 15 Year Conventional Refi | 6.30% | 4/21/24 |
| 15 Year Cash-out Refi | 6.30% | 4/21/24 |
| 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. | ||
Union Capital Mortgage Corporation Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,060Origination Dollar Volume (All Markets)
$272,290,000Awards
UNION CAPITAL MORTGAGE CORPORATION - 2021
UNION CAPITAL MORTGAGE CORPORATION is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| 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% |
Similar Lenders
We use machine learning to identify the top lenders compared against UNION CAPITAL MORTGAGE CORPORATION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2021, Union Capital Mortgage Corporation's most frequently originated type of loan was Conventional, with 955 originations. Their 2nd most popular type was FHA, with 63 originations.
Loan Reason
For 2021, Union Capital Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 411 originations. The 2nd most popular reason was Refi, with 398 originations.
Loan Duration/Length
For 2021, Union Capital Mortgage Corporation's most frequently cited loan duration was 30 Year, with 675 originations. The 2nd most popular length was 15 Year, with 212 originations.
Origination Fees/Closing Costs
Union Capital Mortgage Corporation's average total fees were $4,683, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.06%, while their most frequently originated rate bucket for loans was 2.5-3%, with 552 originations.
Loan Sizing
2021 saw Union Capital Mortgage Corporation place emphasis on $200k-400k loans with 461 originations, totaling $128,055,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications95.83%
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 origination85.75%
Union Capital Mortgage Corporation has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,060 | $272,290,000 | $256,877 |