Us Community Mortgage Rates, Fees & Info
Nashville, TNLEI: 549300KB8NXVYD7BGS97
Tax ID: 62-0517615
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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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.61% | 11/17/24 |
| 30 Year Conventional Refi | 6.60% | 11/17/24 |
| 30 Year Cash-out Refi | 6.72% | 11/17/24 |
| 30 Year VA Purchase | 4.44% | 11/17/24 |
| 15 Year Conventional Purchase | 7.83% | 11/17/24 |
| 15 Year Conventional Refi | 6.87% | 11/17/24 |
| 15 Year Cash-out Refi | 6.87% | 11/17/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
56Origination Dollar Volume (All Markets)
$8,740,000Awards
US COMMUNITY - 2023
US COMMUNITY is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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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% |
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.
Similarity Rank: 130
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Similarity Rank: 736
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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
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
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
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
2023 saw Us Community place emphasis on $100,000 or less loans with 30 originations, totaling $1,710,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications88.14%
Us Community has an average approval rate.
Pick Rate
Approvals leading to origination1.79%
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 |