Universal Mortgage & Finance Rates, Fees & Info
LUTHERVILLE, MDLEI: 549300FFPMB9B7FHNR61
Tax ID: 52-2276553
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Universal Mortgage & Finance is a smaller mortgage company specializing in Home Purchase and Refi loans. Universal Mortgage & Finance has a high proportion of conventional loans. They have a a high proportion of FHA loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Washington, Baltimore, Virginia Beach, Reno, and California among others. We have data for 39 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 a high 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.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
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
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Universal Mortgage & Finance. It uses our SimulatedRate™
technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.
The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
330Origination Dollar Volume (All Markets)
$110,920,000Top 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) | 133 | $48,815,000 | $367,030 | $11,028 | 3.29% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 81 | $25,855,000 | $319,198 | $9,558 | 3.23% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 31 | $9,415,000 | $303,710 | $7,802 | 3.34% |
| RENO, NV (FHA|USDA|VA) | 20 | $7,130,000 | $356,500 | $7,177 | 3.31% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 10 | $2,720,000 | $272,000 | $8,287 | 3.64% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 4 | $1,640,000 | $410,000 | $12,490 | 3.53% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 4 | $1,160,000 | $290,000 | $11,747 | 3.25% |
| ROANOKE, VA (FHA|USDA|VA) | 2 | $1,030,000 | $515,000 | $7,478 | 3.56% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $1,005,000 | $1,005,000 | $9,129 | 4.75% |
| Outside of Metro Areas | 6 | $970,000 | $161,667 | $5,273 | 3.31% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 2 | $780,000 | $390,000 | $5,395 | 3.44% |
| Fernley, NV (FHA|USDA|VA) | 2 | $760,000 | $380,000 | $7,868 | 3.31% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 3 | $695,000 | $231,667 | $7,467 | 3.92% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $5,225 | 3.88% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $10,408 | 3.25% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $6,223 | 3.50% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $5,503 | 3.25% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $6,786 | 3.99% |
| DALTON, GA (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $8,682 | 3.15% |
| RICHMOND, VA (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $3,312 | 3.38% |
| Gardnerville Ranchos, NV (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $9,057 | 3.25% |
| Cambridge, MD (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $10,877 | 3.44% |
| LYNCHBURG, VA (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $4,667 | 3.38% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $4,061 | 2.75% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 2.59% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $19,917 | 3.75% |
| Jesup, GA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $19,207 | 3.25% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $12,073 | 3.63% |
| STAUNTON, VA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 2.57% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $5,298 | 2.88% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $7,600 | 4.00% |
| OCALA, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $10,582 | 3.00% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $4,952 | 3.50% |
| Granbury, TX (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $6,869 | 3.88% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $11,098 | 3.75% |
| DOVER, DE (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $8,153 | 2.88% |
| CARSON CITY, NV (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $5,892 | 3.25% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $5,798 | 3.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $5,506 | 3.99% |
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.
Similarity Rank: 348
Similarity Rank: 477
Similarity Rank: 544
Similarity Rank: 546
Similarity Rank: 722
Similarity Rank: 736
Similarity Rank: 860
Similarity Rank: 897
Similarity Rank: 1344
Similarity Rank: 1680
Product Mix
For 2021, Universal Mortgage & Finance's most frequently originated type of loan was Conventional, with 180 originations. Their 2nd most popular type was FHA, with 102 originations.
Loan Reason
For 2021, Universal Mortgage & Finance's most frequently cited loan purpose was Home Purchase, with 186 originations. The 2nd most popular reason was Refi, with 77 originations.
Loan Duration/Length
For 2021, Universal Mortgage & Finance's most frequently cited loan duration was 30 Year, with 305 originations. The 2nd most popular length was 15 Year, with 12 originations.
Origination Fees/Closing Costs
Universal Mortgage & Finance's average total fees were $9,820, 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 |
|---|---|---|---|
| 3-4% | 215 | $70,895,000 | $329,744 |
| 2.5-3% | 68 | $24,920,000 | $366,471 |
| 4-5% | 24 | $7,330,000 | $305,417 |
| <2.5% | 23 | $7,775,000 | $338,043 |
During 2021, Universal Mortgage & Finance's average interest rate for loans was 3.34%, while their most frequently originated rate bucket for loans was 3-4%, with 215 originations.
Loan Sizing
2021 saw Universal Mortgage & Finance place emphasis on $200k-400k loans with 186 originations, totaling $54,420,000 in origination value.
Applicant Income
Universal Mortgage & Finance lent most frequently to those with incomes in the $75k-100k range, with 85 originations. The second most popular income band? $100k-150k, with 83 originations.
Applicant Debt to Income Ratio
Universal Mortgage & Finance lent most frequently to those with DTI ratios of 20-30%, with 51 originations. The next most common DTI ratio? 30-36%, with 47 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.13%
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 origination86.97%
Universal Mortgage & Finance has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 330 | $110,920,000 | $336,121 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| UNIVERSAL LENDING CORP. | Conventional home mortgage | Struggling to pay mortgage | 1 | 100.0% |