Universal Mortgage & Finance Rates, Fees & Info
LUTHERVILLE, MDLEI: 549300FFPMB9B7FHNR61
Tax ID: 52-2276553
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Mortgage Data
Review & Overview
Universal Mortgage & Finance is a smaller mortgage company specializing in Refi, Home Purchase, and Cash Out Refi loans. They have an average proportion of FHA loans. Universal Mortgage & Finance has an average proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Baltimore, Washington, Miami, Seattle, and Tampa among others. We have data for 83 markets. (Some data included below & more in-depth data is available with an active subscription.)Universal Mortgage & Finance 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. Universal Mortgage & Finance 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.
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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 12/16/24 |
| 30 Year Conventional Purchase | 7.07% | 12/16/24 |
| 30 Year Conventional Refi | 6.27% | 12/16/24 |
| 30 Year Cash-out Refi | 7.28% | 12/16/24 |
| 30 Year FHA Purchase | 7.82% | 12/16/24 |
| 30 Year FHA Refi | 7.39% | 12/16/24 |
| 30 Year VA Purchase | 6.68% | 12/16/24 |
| 30 Year USDA Purchase | 7.06% | 12/16/24 |
| 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. | ||
Universal Mortgage & Finance Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
248Origination Dollar Volume (All Markets)
$62,330,000Top 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 |
|---|---|---|---|---|---|
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 34 | $10,800,000 | $317,647 | $9,316 | 4.86% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 39 | $10,695,000 | $274,231 | $9,108 | 5.01% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 23 | $5,955,000 | $258,913 | $8,521 | 5.33% |
| Outside of Metro Areas | 10 | $1,740,000 | $174,000 | $5,657 | 4.76% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 5 | $1,535,000 | $307,000 | $8,533 | 4.68% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 6 | $1,500,000 | $250,000 | $6,388 | 4.60% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 6 | $1,490,000 | $248,333 | $5,516 | 4.98% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 6 | $1,410,000 | $235,000 | $9,251 | 4.23% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 4 | $1,230,000 | $307,500 | $8,390 | 4.41% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 4 | $1,170,000 | $292,500 | $6,575 | 4.97% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 5 | $1,015,000 | $203,000 | $4,412 | 4.63% |
| JACKSON, MS (FHA|USDA|VA) | 3 | $985,000 | $328,333 | $8,735 | 4.75% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 3 | $965,000 | $321,667 | $13,825 | 4.58% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 4 | $950,000 | $237,500 | $5,990 | 4.58% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 3 | $715,000 | $238,333 | $9,289 | 4.46% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $16,503 | 4.69% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 3 | $695,000 | $231,667 | $6,838 | 4.17% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 3 | $675,000 | $225,000 | $6,171 | 4.92% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 2 | $630,000 | $315,000 | $9,626 | 4.38% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 2 | $620,000 | $310,000 | $12,055 | 4.50% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 4 | $610,000 | $152,500 | $5,815 | 4.75% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $12,877 | 4.25% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 4 | $530,000 | $132,500 | $4,045 | 4.63% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $5,338 | 4.63% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 3 | $475,000 | $158,333 | $4,822 | 4.67% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $11,308 | 4.75% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $11,328 | 5.13% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $6,170 | 4.50% |
| STOCKTON, CA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $8,026 | 4.50% |
| Moses Lake, WA (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $3,823 | 4.38% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $8,116 | 4.44% |
| Port Angeles, WA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $8,784 | 3.88% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $9,401 | 4.50% |
| TUCSON, AZ (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $4,835 | 5.06% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $6,839 | 4.38% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $7,418 | 3.88% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $12,219 | 4.13% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $19,960 | 4.25% |
| PITTSBURGH, PA (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $7,052 | 3.81% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $16,581 | 3.88% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $6,384 | 4.25% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $7,386 | 4.81% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $15,372 | 4.25% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $5,201 | 4.94% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,756 | 4.13% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $5,581 | 4.50% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $13,574 | 4.50% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $6,993 | 4.50% |
| Cañon City, CO (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $8,183 | 4.75% |
| YAKIMA, WA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $2,972 | 4.38% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,762 | 4.63% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $7,801 | 4.88% |
| WACO, TX (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $6,998 | 5.38% |
| MONTGOMERY, AL (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $2,933 | 4.94% |
| Talladega-Sylacauga, AL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $7,223 | 4.50% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $11,097 | 4.50% |
| LANCASTER, PA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $5,142 | 5.38% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $13,021 | 4.25% |
| Jefferson, GA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,458 | 4.38% |
| Easton, MD (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $5,696 | 5.13% |
| MADERA, CA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,006 | 4.38% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $7,218 | 4.38% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $7,010 | 4.75% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $10,326 | 4.88% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $11,807 | 4.50% |
| DOVER, DE (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $5,741 | 4.38% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $9,998 | 5.00% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $5,951 | 4.25% |
| Sonora, CA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $6,852 | 4.13% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $5,081 | 4.25% |
| Summerville, GA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $7,124 | 3.95% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,830 | 5.25% |
| Douglas, GA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $6,329 | 4.88% |
| ERIE, PA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,418 | 4.50% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $5,178 | 4.00% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $6,100 | 4.00% |
| Bonham, TX (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,121 | 4.38% |
| Cambridge, MD (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,859 | 4.50% |
| PUEBLO, CO (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $5,418 | 4.88% |
| FORT WAYNE, IN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,953 | 4.50% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $6,685 | 3.88% |
| MOBILE, AL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,554 | 4.63% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,849 | 5.00% |
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Product Mix
For 2018, Universal Mortgage & Finance's most frequently originated type of loan was VA, with 111 originations. Their 2nd most popular type was FHA, with 73 originations.
Loan Reason
For 2018, Universal Mortgage & Finance's most frequently cited loan purpose was Refi, with 98 originations. The 2nd most popular reason was Home Purchase, with 90 originations.
Loan Duration/Length
For 2018, Universal Mortgage & Finance's most frequently cited loan duration was 30 Year, with 241 originations. The 2nd most popular length was 15 Year, with 3 originations.
Origination Fees/Closing Costs
Universal Mortgage & Finance's average total fees were $8,019, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 107 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 166 | $42,760,000 | $257,590 |
| 5-6% | 66 | $15,820,000 | $239,697 |
| 3-4% | 14 | $3,380,000 | $241,429 |
| 6-7% | 2 | $370,000 | $185,000 |
During 2018, Universal Mortgage & Finance's average interest rate for loans was 4.76%, while their most frequently originated rate bucket for loans was 4-5%, with 166 originations.
Loan Sizing
2018 saw Universal Mortgage & Finance place emphasis on $200k-400k loans with 130 originations, totaling $36,290,000 in origination value.
Applicant Income
Universal Mortgage & Finance lent most frequently to those with incomes in the $50k-75k range, with 68 originations. The second most popular income band? $100k-150k, with 48 originations.
Applicant Debt to Income Ratio
Universal Mortgage & Finance lent most frequently to those with DTI ratios of 30-36%, with 26 originations. The next most common DTI ratio? 50-60%, with 25 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.33%
Universal Mortgage & Finance has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination75.40%
Universal Mortgage & Finance has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 248 | $62,330,000 | $251,331 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 2 | $230,000 | $115,000 |
| Single Family (1-4 Units):Site-Built | 246 | $62,100,000 | $252,439 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Unifirst Mortgage Corporation | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |