University Bank Mortgage Rates, Fees & Info
Ann Arbor, MILEI: 549300IFOE4SCP384147
Tax ID: 38-0875820
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Mortgage Data
Review & Overview
University Bank is a smaller bank specializing in Home Purchase loans. University Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. University Bank has an average 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. 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: Tallahassee, Pensacola, Crestview, Ann Arbor, and Chicago among others. We have data for 131 markets. (Some data included below & more in-depth data is available with an active subscription.)University Bank 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. University Bank 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 relatively high 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 |
|---|---|---|
| 30 Year Conventional Purchase | 6.44% | 4/18/24 |
| 30 Year Conventional Refi | 6.67% | 4/18/24 |
| 30 Year Cash-out Refi | 6.16% | 4/18/24 |
| 30 Year FHA Purchase | 6.99% | 4/18/24 |
| 30 Year FHA Refi | 6.27% | 4/18/24 |
| 30 Year VA Purchase | 5.85% | 4/18/24 |
| 30 Year USDA Purchase | 6.35% | 4/18/24 |
| 15 Year Conventional Purchase | 5.93% | 4/18/24 |
| 15 Year VA Purchase | 6.08% | 4/18/24 |
| 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. | ||
University Bank Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from University Bank. 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
1,930Origination Dollar Volume (All Markets)
$575,470,000Awards
University Bank - 2023
University Bank is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
University Bank's average 30 year fixed mortgage rate was
6.6%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.12%.
Relative Fees (Closing Costs)
University Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $7,439.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
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 |
|---|---|---|---|---|---|
| TALLAHASSEE, FL (FHA|USDA|VA) | 404 | $106,300,000 | $263,119 | $7,784 | 6.61% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 306 | $102,160,000 | $333,856 | $8,614 | 6.55% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 163 | $56,665,000 | $347,638 | $9,072 | 6.37% |
| ANN ARBOR, MI (FHA|USDA|VA) | 191 | $52,145,000 | $273,010 | $4,680 | 6.82% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 149 | $41,915,000 | $281,309 | $7,317 | 6.41% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 170 | $35,760,000 | $210,353 | $5,030 | 6.98% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 56 | $32,140,000 | $573,929 | $4,461 | 7.81% |
| Outside of Metro Areas | 55 | $12,685,000 | $230,636 | $7,028 | 6.89% |
| Crawfordsville, IN (FHA|USDA|VA) | 72 | $12,310,000 | $170,972 | $4,636 | 7.01% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 15 | $8,785,000 | $585,667 | $10,210 | 6.56% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 17 | $6,865,000 | $403,824 | $7,175 | 6.49% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 16 | $5,340,000 | $333,750 | $4,654 | 5.99% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 10 | $5,170,000 | $517,000 | $0 | 0.00% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 10 | $3,520,000 | $352,000 | $9,569 | 6.89% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 10 | $3,390,000 | $339,000 | $10,925 | 6.09% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 6 | $3,240,000 | $540,000 | $0 | 0.00% |
| MONROE, MI (FHA|USDA|VA) | 14 | $3,010,000 | $215,000 | $8,672 | 7.01% |
| SAN ANGELO, TX (FHA|USDA|VA) | 14 | $2,900,000 | $207,143 | $10,231 | 6.25% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 8 | $2,820,000 | $352,500 | $5,732 | 6.25% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 5 | $2,795,000 | $559,000 | $0 | 0.00% |
| JACKSON, MI (FHA|USDA|VA) | 16 | $2,780,000 | $173,750 | $4,313 | 7.39% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 6 | $2,660,000 | $443,333 | $0 | 0.00% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 10 | $2,600,000 | $260,000 | $6,578 | 5.83% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 7 | $2,485,000 | $355,000 | $8,294 | 6.62% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 7 | $2,465,000 | $352,143 | $9,786 | 6.57% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 6 | $2,380,000 | $396,667 | $5,947 | 7.13% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 5 | $2,355,000 | $471,000 | $5,500 | 5.99% |
| Adrian, MI (FHA|USDA|VA) | 9 | $2,345,000 | $260,556 | $7,656 | 7.05% |
| VALLEJO, CA (FHA|USDA|VA) | 5 | $2,045,000 | $409,000 | $5,963 | 5.75% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 5 | $1,975,000 | $395,000 | $10,032 | 5.75% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 4 | $1,630,000 | $407,500 | $0 | 0.00% |
| FLINT, MI (FHA|USDA|VA) | 6 | $1,530,000 | $255,000 | $6,525 | 7.17% |
| YUBA CITY, CA (FHA|USDA|VA) | 4 | $1,450,000 | $362,500 | $5,342 | 7.09% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 2 | $1,420,000 | $710,000 | $0 | 0.00% |
| Traverse City, MI (FHA|USDA|VA) | 4 | $1,400,000 | $350,000 | $3,727 | 7.46% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 3 | $1,385,000 | $461,667 | $11,912 | 6.44% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 2 | $1,370,000 | $685,000 | $0 | 0.00% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 4 | $1,310,000 | $327,500 | $0 | 0.00% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 2 | $1,280,000 | $640,000 | $0 | 0.00% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 3 | $1,185,000 | $395,000 | $0 | 0.00% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 2 | $1,150,000 | $575,000 | $8,116 | 7.38% |
| CHICO, CA (FHA|USDA|VA) | 3 | $1,015,000 | $338,333 | $8,319 | 6.91% |
| PANAMA CITY, FL (FHA|USDA|VA) | 4 | $1,000,000 | $250,000 | $10,636 | 6.94% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 2 | $970,000 | $485,000 | $0 | 0.00% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 2 | $970,000 | $485,000 | $0 | 0.00% |
| MOBILE, AL (FHA|USDA|VA) | 1 | $955,000 | $955,000 | $12,615 | 7.88% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 2 | $950,000 | $475,000 | $7,124 | 6.13% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 2 | $890,000 | $445,000 | $8,952 | 5.99% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 2 | $860,000 | $430,000 | $11,581 | 6.75% |
| COLUMBUS, OH (FHA|USDA|VA) | 2 | $860,000 | $430,000 | $12,359 | 7.25% |
| STOCKTON, CA (FHA|USDA|VA) | 1 | $775,000 | $775,000 | $0 | 0.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1 | $765,000 | $765,000 | $0 | 0.00% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 3 | $745,000 | $248,333 | $0 | 0.00% |
| OCALA, FL (FHA|USDA|VA) | 3 | $735,000 | $245,000 | $13,836 | 5.50% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 2 | $730,000 | $365,000 | $3,440 | 6.31% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 1 | $665,000 | $665,000 | $0 | 0.00% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $625,000 | $625,000 | $4,806 | 6.25% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 3 | $625,000 | $208,333 | $3,721 | 7.17% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 2 | $620,000 | $310,000 | $3,934 | 7.88% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 4 | $610,000 | $152,500 | $3,772 | 6.79% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $3,826 | 6.25% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $0 | 6.25% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $6,496 | 6.13% |
| Show Low, AZ (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $0 | 0.00% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $0 | 0.00% |
| MODESTO, CA (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $0 | 0.00% |
| PROVO-OREM, UT (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $0 | 0.00% |
| Sevierville, TN (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $0 | 0.00% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $0 | 0.00% |
| REDDING, CA (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $0 | 0.00% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $0 | 0.00% |
| COLUMBUS, GA-AL (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $4,775 | 6.99% |
| DOTHAN, AL (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $6,560 | 7.31% |
| Cookeville, TN (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $0 | 0.00% |
| LOGAN, UT-ID (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $0 | 0.00% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 0.00% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $7,064 | 6.81% |
| LYNCHBURG, VA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $0 | 0.00% |
| Palatka, FL (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $6,434 | 6.63% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 0.00% |
| Ashland, OH (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 0.00% |
| Brevard, NC (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 0.00% |
| ST. GEORGE, UT (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 0.00% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $0 | 0.00% |
| Enterprise, AL (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $14,079 | 6.63% |
| Dublin, GA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $5,101 | 7.13% |
| VALDOSTA, GA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $5,562 | 5.63% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 0.00% |
| TOLEDO, OH (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $4,344 | 6.50% |
| GAINESVILLE, FL (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $4,158 | 7.12% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $9,930 | 6.75% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $5,954 | 6.38% |
| TUSCALOOSA, AL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| HAMMOND, LA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $1,686 | 7.38% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $9,966 | 5.99% |
| Holland, MI (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 7.88% |
| GADSDEN, AL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| SALEM, OR (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $0 | 0.00% |
| DALTON, GA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| Bainbridge, GA (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $8,404 | 7.19% |
| Atmore, AL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $7,775 | 7.13% |
| FRESNO, CA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $0 | 0.00% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| APPLETON, WI (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| Manitowoc, WI (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| OWENSBORO, KY (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| TERRE HAUTE, IN (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $3,972 | 6.00% |
| Bluefield, WV-VA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| Ludington, MI (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 8.13% |
| NILES, MI (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
| Murray, KY (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,141 | 6.38% |
| ALBANY-LEBANON, OR (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 0.00% |
| WAUSAU-WESTON, WI (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $0 | 0.00% |
| Whitewater, WI (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| WICHITA, KS (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| Beeville, TX (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $4,869 | 7.00% |
| Centralia, WA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| DANVILLE, IL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $5,024 | 7.63% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| GREEN BAY, WI (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| WARNER ROBINS, GA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $5,362 | 6.25% |
| Sweetwater, TX (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
| Thomasville, GA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,744 | 6.88% |
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 7.99% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against University Bank 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 2023, University Bank's most frequently originated type of loan was Conventional, with 931 originations. Their 2nd most popular type was FHA, with 345 originations.
Loan Reason
For 2023, University Bank's most frequently cited loan purpose was Home Purchase, with 1,603 originations. The 2nd most popular reason was Refi, with 194 originations.
Loan Duration/Length
For 2023, University Bank's most frequently cited loan duration was 30 Year, with 1,506 originations. The 2nd most popular length was Other, with 305 originations.
Origination Fees/Closing Costs
University Bank's average total fees were $7,439, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 486 originations.
Interest Rates
During 2023, University Bank's average interest rate for loans was 6.60%, while their most frequently originated rate bucket for loans was 6-7%, with 879 originations.
Loan Sizing
2023 saw University Bank place emphasis on $200k-400k loans with 986 originations, totaling $286,190,000 in origination value.
Applicant Income
University Bank lent most frequently to those with incomes in the $100k-150k range, with 445 originations. The second most popular income band? $50k-75k, with 403 originations.
Applicant Debt to Income Ratio
University Bank lent most frequently to those with DTI ratios of Exempt%, with 289 originations. The next most common DTI ratio? 30-36%, with 268 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.19%
University Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination76.17%
University Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 289 | $108,645,000 | $375,934 |
| NA | 1,641 | $466,825,000 | $284,476 |