Us Community Mortgage Rates, Fees & Info

Nashville, TN

LEI: 549300KB8NXVYD7BGS97

Tax ID: 62-0517615

5 stars - Updated: 5/20/24 - out of 5 stars, based on 7 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Us Community is a smaller mortgage company specializing in Cash Out Refi and Home Purchase loans. Us Community has a high proportion of conventional loans. Their top markets by origination volume include: Nashville, Memphis, and Morristown among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

Us Community has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Us Community 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 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 6.61% 5/20/24
30 Year Conventional Refi 6.60% 5/20/24
30 Year Cash-out Refi 6.72% 5/20/24
30 Year VA Purchase 4.44% 5/20/24
15 Year Conventional Purchase 7.83% 5/20/24
15 Year Conventional Refi 6.87% 5/20/24
15 Year Cash-out Refi 6.87% 5/20/24
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.

Us Community Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Us Community. 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

56

Origination Dollar Volume (All Markets)

$8,740,000

Awards

US COMMUNITY 30 Year Conventional Loans silver
Show all (1) awards

Relative Rate

Us Community's average 30 year fixed mortgage rate was 6.75%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.27%.

Relative Fees (Closing Costs)

Us Community's average total fees/closing costs for a 30 year fixed rate mortgage were $4,417.

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
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 51 $8,015,000 $157,157 $2,978 7.35%
Outside of Metro Areas 2 $540,000 $270,000 $2,632 5.94%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 2 $160,000 $80,000 $3,815 7.44%
MORRISTOWN, TN (FHA|USDA|VA) 1 $25,000 $25,000 $0 7.00%
Us Community's top markets include Nashville, Memphis, and Morristown among others.

Their top states include:
  • Tennessee (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against US COMMUNITY based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    First Farmers and Merchants Bank
    Similarity Rank: 130
    US COMMUNITY
    Similarity Rank: 472
    TENNESSEE TRUST MORTGAGE, INC
    Similarity Rank: 736
    THE TENNESSEE CREDIT UNION
    Similarity Rank: 848
    CORNERSTONE FINANCIAL CREDIT UNION
    Similarity Rank: 864
    The Farmers Bank
    Similarity Rank: 972
    SHELTER LENDING SERVICES, L.L.C.
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    ASCEND FEDERAL CREDIT UNION
    Similarity Rank: 1394
    Listerhill Credit Union
    Similarity Rank: 1513
    FIRST CONTINENTAL MORTGAGE, LTD.
    Similarity Rank: 1760

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 55 $8,665,000 $157,545 $3,004 7.28%
    HELOC 1 $75,000 $75,000 n/a 8.50%

    For 2023, Us Community's most frequently originated type of loan was Conventional, with 55 originations. Their 2nd most popular type was HELOC, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 22 $2,900,000 $131,818 $2,145 6.97%
    Refi 16 $1,580,000 $98,750 $2,249 8.02%
    Home Purchase 14 $3,820,000 $272,857 $5,277 6.79%
    Home Improvement 4 $440,000 $110,000 $2,744 8.19%

    For 2023, Us Community's most frequently cited loan purpose was Cash Out Refi, with 22 originations. The 2nd most popular reason was Refi, with 16 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 29 $2,055,000 $70,862 $1,832 7.80%
    30 Year 23 $6,235,000 $271,087 $4,417 6.75%
    10 Year 3 $255,000 $85,000 $3,187 6.83%
    Other 1 $195,000 $195,000 $0 6.38%

    For 2023, Us Community's most frequently cited loan duration was 15 Year, with 29 originations. The 2nd most popular length was 30 Year, with 23 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 33 $4,615,000 $139,848
    $1k-2k 11 $1,495,000 $135,909
    $2k-3k 4 $520,000 $130,000
    $3k-4k 3 $455,000 $151,667
    $5k+ 2 $1,050,000 $525,000
    $4k-5k 1 $455,000 $455,000

    Us Community's average total fees were $4,417, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 33 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 25 $4,605,000 $184,200
    Over 8% 16 $960,000 $60,000
    7-8% 10 $1,820,000 $182,000
    5-6% 4 $1,170,000 $292,500

    During 2023, Us Community's average interest rate for loans was 6.75%, while their most frequently originated rate bucket for loans was 6-7%, with 25 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 30 $1,710,000 $57,000 $1,952 7.74%
    $200k-400k 11 $2,785,000 $253,182 $3,348 6.93%
    $100k-200k 9 $1,405,000 $156,111 $3,076 6.73%
    $400k-600k 6 $2,840,000 $473,333 $7,243 6.52%

    2023 saw Us Community place emphasis on $100,000 or less loans with 30 originations, totaling $1,710,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 16 $2,660,000 $166,250 $3,873 7.25%
    $75k-100k 16 $1,290,000 $80,625 $2,291 7.82%
    $50k-75k 11 $1,465,000 $133,182 $2,596 7.38%
    $50k or less 7 $735,000 $105,000 $1,389 6.66%
    $150k-250k 4 $1,720,000 $430,000 $5,669 7.03%

    Us Community lent most frequently to those with incomes in the $100k-150k range, with 16 originations. The second most popular income band? $75k-100k, with 16 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 14 $2,350,000 $167,857 $4,112 7.53%
    20-30% 11 $1,335,000 $121,364 $2,635 6.85%
    44% 7 $1,195,000 $170,714 $2,905 7.57%
    45% 4 $540,000 $135,000 $2,445 7.41%
    37% 3 $185,000 $61,667 $1,150 6.83%
    40% 3 $325,000 $108,333 $2,724 8.21%
    39% 2 $180,000 $90,000 $2,723 7.75%
    >60% 2 $800,000 $400,000 $5,414 5.88%
    41% 1 $75,000 $75,000 $1,505 7.50%
    36% 1 $235,000 $235,000 $0 7.38%
    38% 1 $75,000 $75,000 $0 8.50%
    <20% 1 $25,000 $25,000 $0 7.00%
    43% 1 $75,000 $75,000 $1,837 8.50%
    46% 1 $245,000 $245,000 $1,935 6.38%
    48% 1 $435,000 $435,000 $2,357 7.75%
    49% 1 $55,000 $55,000 $900 7.50%

    Us Community lent most frequently to those with DTI ratios of 30-36%, with 14 originations. The next most common DTI ratio? 20-30%, with 11 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 32 $6,150,000 $192,188 $3,488 7.05%
    Black 19 $2,285,000 $120,263 $2,540 7.56%
    Not provided 5 $305,000 $61,000 $1,868 8.00%

    Approval Rates

    Total approvals of all applications
    88.14%

    Us Community has an average approval rate.

    Pick Rate

    Approvals leading to origination
    1.79%

    Us Community has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 56 $8,740,000 $156,071

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    56 $8,740,000 $156,071

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $590,000 $73,750 $1,863 7.45%
    40-60% 9 $2,025,000 $225,000 $3,226 6.72%
    60-80% 12 $3,090,000 $257,500 $4,867 6.88%
    80-100% 8 $2,070,000 $258,750 $4,250 6.63%
    Under 20% 19 $965,000 $50,789 $1,823 8.04%