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 and Home Purchase 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: Washington, Baltimore, Atlanta, Virginia Beach, and Philadelphia among others. We have data for 106 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 4/21/24 |
| 30 Year Conventional Purchase | 7.07% | 4/21/24 |
| 30 Year Conventional Refi | 6.27% | 4/21/24 |
| 30 Year Cash-out Refi | 7.28% | 4/21/24 |
| 30 Year FHA Purchase | 7.82% | 4/21/24 |
| 30 Year FHA Refi | 7.39% | 4/21/24 |
| 30 Year VA Purchase | 6.68% | 4/21/24 |
| 30 Year USDA Purchase | 7.06% | 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. | ||
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
464Origination Dollar Volume (All Markets)
$125,370,000Top 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 |
|---|---|---|---|---|---|
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 78 | $25,250,000 | $323,718 | $9,799 | 4.20% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 71 | $23,125,000 | $325,704 | $9,018 | 4.33% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 19 | $4,535,000 | $238,684 | $7,438 | 3.89% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 16 | $4,300,000 | $268,750 | $7,301 | 3.78% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 13 | $3,185,000 | $245,000 | $6,938 | 3.91% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 10 | $2,730,000 | $273,000 | $7,269 | 3.96% |
| Outside of Metro Areas | 11 | $2,275,000 | $206,818 | $6,828 | 3.76% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 10 | $2,100,000 | $210,000 | $8,076 | 3.86% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 8 | $2,020,000 | $252,500 | $8,032 | 4.09% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 7 | $2,015,000 | $287,857 | $7,028 | 3.63% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 2 | $2,000,000 | $1,000,000 | $10,157 | 3.63% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 6 | $1,870,000 | $311,667 | $8,997 | 3.85% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 8 | $1,800,000 | $225,000 | $5,688 | 3.75% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 7 | $1,735,000 | $247,857 | $6,658 | 3.95% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 7 | $1,695,000 | $242,143 | $8,075 | 3.83% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 5 | $1,685,000 | $337,000 | $8,310 | 3.78% |
| RENO, NV (FHA|USDA|VA) | 7 | $1,625,000 | $232,143 | $6,185 | 3.93% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 6 | $1,510,000 | $251,667 | $7,539 | 3.65% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 6 | $1,490,000 | $248,333 | $11,238 | 4.21% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 6 | $1,480,000 | $246,667 | $6,700 | 3.65% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 6 | $1,480,000 | $246,667 | $5,489 | 3.55% |
| RICHMOND, VA (FHA|USDA|VA) | 7 | $1,435,000 | $205,000 | $6,900 | 4.00% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 5 | $1,415,000 | $283,000 | $7,342 | 4.24% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 6 | $1,410,000 | $235,000 | $5,943 | 3.77% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 3 | $1,305,000 | $435,000 | $20,846 | 3.38% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 6 | $1,270,000 | $211,667 | $4,246 | 4.00% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 5 | $1,145,000 | $229,000 | $7,812 | 3.93% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 4 | $1,060,000 | $265,000 | $6,346 | 4.03% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 5 | $975,000 | $195,000 | $5,867 | 3.80% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 5 | $955,000 | $191,000 | $6,441 | 3.60% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 3 | $865,000 | $288,333 | $6,431 | 3.87% |
| SAVANNAH, GA (FHA|USDA|VA) | 4 | $860,000 | $215,000 | $7,229 | 3.97% |
| PITTSBURGH, PA (FHA|USDA|VA) | 4 | $830,000 | $207,500 | $7,731 | 3.72% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 3 | $765,000 | $255,000 | $8,495 | 3.83% |
| TUCSON, AZ (FHA|USDA|VA) | 4 | $730,000 | $182,500 | $5,695 | 3.78% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 3 | $705,000 | $235,000 | $7,962 | 3.83% |
| Fernley, NV (FHA|USDA|VA) | 3 | $685,000 | $228,333 | $6,563 | 3.83% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 3 | $665,000 | $221,667 | $5,601 | 3.92% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $4,452 | 3.81% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $6,754 | 3.88% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 3 | $555,000 | $185,000 | $7,379 | 3.96% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $8,372 | 4.56% |
| SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $6,599 | 3.75% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $4,542 | 3.88% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 3 | $485,000 | $161,667 | $6,190 | 4.04% |
| Enterprise, AL (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $4,784 | 4.44% |
| Breckenridge, CO (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $3,272 | 4.50% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $10,829 | 3.38% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $10,635 | 3.88% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $4,850 | 3.69% |
| DULUTH, MN-WI (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $5,278 | 3.69% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $6,712 | 3.99% |
| WACO, TX (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $6,330 | 3.63% |
| LOUISVILLE, KY (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $5,667 | 3.63% |
| LONGVIEW, WA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $11,512 | 4.00% |
| WENATCHEE, WA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $10,765 | 3.75% |
| LaGrange, GA-AL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,627 | 3.38% |
| CARSON CITY, NV (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $5,659 | 3.50% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $9,425 | 3.88% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $8,835 | 4.00% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $14,791 | 3.50% |
| OCALA, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $10,756 | 3.63% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $5,743 | 3.88% |
| Elizabeth City, NC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $6,401 | 4.50% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $7,942 | 3.63% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $5,276 | 3.99% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,787 | 3.50% |
| YAKIMA, WA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $6,723 | 3.88% |
| GREELEY, CO (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $5,123 | 3.88% |
| Ellensburg, WA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $10,974 | 4.00% |
| GAINESVILLE, GA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,342 | 4.13% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $8,772 | 3.25% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $13,690 | 4.13% |
| Morehead City, NC (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $8,545 | 3.88% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $9,052 | 4.13% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $10,684 | 3.75% |
| Owatonna, MN (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $6,878 | 4.25% |
| LIMA, OH (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,977 | 3.75% |
| LYNCHBURG, VA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,233 | 3.88% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $6,969 | 3.88% |
| SAN ANGELO, TX (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $7,436 | 3.50% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $8,887 | 4.25% |
| MONTGOMERY, AL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $7,346 | 3.88% |
| LONGVIEW, TX (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $6,762 | 3.88% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,475 | 4.00% |
| FORT WAYNE, IN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,334 | 4.13% |
| EL PASO, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,087 | 3.63% |
| DOVER, DE (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,404 | 3.38% |
| LEBANON, PA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $7,141 | 4.13% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $6,466 | 3.38% |
| BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $6,786 | 3.63% |
| MOBILE, AL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,308 | 4.00% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $5,610 | 4.50% |
| ROME, GA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,837 | 4.00% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $6,920 | 3.25% |
| NEW BERN, NC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $7,578 | 3.88% |
| Pahrump, NV (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $5,647 | 3.38% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,983 | 3.75% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $5,995 | 4.13% |
| GETTYSBURG, PA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $6,388 | 4.38% |
| Shelton, WA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,520 | 4.63% |
| Centralia, WA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $5,816 | 3.50% |
| Cedartown, GA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $6,769 | 3.88% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $4,088 | 3.50% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $5,028 | 3.75% |
| STAUNTON, VA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,449 | 5.63% |
Similar Lenders
We use machine learning to identify the top lenders compared against UNIVERSAL MORTGAGE & FINANCE 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 2019, Universal Mortgage & Finance's most frequently originated type of loan was VA, with 275 originations. Their 2nd most popular type was FHA, with 110 originations.
Loan Reason
For 2019, Universal Mortgage & Finance's most frequently cited loan purpose was Refi, with 277 originations. The 2nd most popular reason was Home Purchase, with 118 originations.
Loan Duration/Length
For 2019, Universal Mortgage & Finance's most frequently cited loan duration was 30 Year, with 329 originations. The 2nd most popular length was Other, with 123 originations.
Origination Fees/Closing Costs
Universal Mortgage & Finance's average total fees were $8,148, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 133 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 290 | $77,530,000 | $267,345 |
| 4-5% | 147 | $39,555,000 | $269,082 |
| 5-6% | 22 | $6,200,000 | $281,818 |
| 2.5-3% | 4 | $1,770,000 | $442,500 |
| 6-7% | 1 | $315,000 | $315,000 |
During 2019, Universal Mortgage & Finance's average interest rate for loans was 4.03%, while their most frequently originated rate bucket for loans was 3-4%, with 290 originations.
Loan Sizing
2019 saw Universal Mortgage & Finance place emphasis on $200k-400k loans with 271 originations, totaling $74,005,000 in origination value.
Applicant Income
Universal Mortgage & Finance lent most frequently to those with incomes in the $50k or less range, with 242 originations. The second most popular income band? $50k-75k, with 63 originations.
Applicant Debt to Income Ratio
Universal Mortgage & Finance lent most frequently to those with DTI ratios of 50-60%, with 41 originations. The next most common DTI ratio? 30-36%, with 29 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.78%
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 origination76.94%
Universal Mortgage & Finance has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 464 | $125,370,000 | $270,194 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 10 | $2,660,000 | $266,000 |
| Single Family (1-4 Units):Site-Built | 454 | $122,710,000 | $270,286 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Unifirst Mortgage Corporation | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |