United Bank Mortgage Rates, Fees & Info

Hartford, CT

LEI: 549300RA8FPV4K1HE018

Tax ID: 06-0523930

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    United Bank is a smaller bank specializing in Home Purchase and Refi loans. United Bank has a high proportion of conventional 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: Hartford, Springfield, Bridgeport, New Haven, and Worcester among others. We have data for 51 markets. (Some data included below & more in-depth data is available with an active subscription.)

    United Bank 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. United Bank 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 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.

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    Originations

    2,629

    Origination Dollar Volume (All Markets)

    $585,385,000
    Show all (14) awards

    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
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1,259 $240,385,000 $190,933 $3,020 4.71%
    SPRINGFIELD, MA (FHA|USDA|VA) 569 $80,435,000 $141,362 $2,634 4.76%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 144 $55,180,000 $383,194 $5,219 4.57%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 158 $36,340,000 $230,000 $3,843 4.75%
    WORCESTER, MA-CT (FHA|USDA|VA) 107 $27,285,000 $255,000 $3,710 4.79%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 55 $23,435,000 $426,091 $5,332 4.38%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 3 $17,385,000 $5,795,000 $4,689 4.51%
    Outside of Metro Areas 9 $13,975,000 $1,552,778 $2,656 4.65%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 47 $12,335,000 $262,447 $3,171 4.84%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 21 $10,425,000 $496,429 $7,759 4.37%
    READING, PA (FHA|USDA|VA) 1 $10,055,000 $10,055,000 $0 4.85%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 25 $8,655,000 $346,200 $5,819 4.58%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 47 $8,165,000 $173,723 $2,986 4.63%
    WINSTON-SALEM, NC (FHA|USDA|VA) 40 $7,980,000 $199,500 $3,863 4.65%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 22 $4,390,000 $199,545 $4,117 4.57%
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 1 $3,805,000 $3,805,000 $0 4.60%
    Torrington, CT (FHA|USDA|VA) 19 $3,125,000 $164,474 $3,822 4.77%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 13 $3,015,000 $231,923 $2,839 5.01%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 14 $2,990,000 $213,571 $4,203 5.21%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 9 $2,635,000 $292,778 $3,439 4.82%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 5 $1,245,000 $249,000 $7,817 5.78%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 8 $1,200,000 $150,000 $2,907 4.14%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 7 $1,075,000 $153,571 $3,669 5.07%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 3 $1,065,000 $355,000 $6,214 4.42%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 7 $945,000 $135,000 $2,885 4.38%
    RALEIGH-CARY, NC (FHA|USDA|VA) 2 $790,000 $395,000 $3,584 3.50%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 2 $700,000 $350,000 $4,919 4.81%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 3 $555,000 $185,000 $4,435 4.67%
    Hudson, NY (FHA|USDA|VA) 1 $505,000 $505,000 $0 4.25%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 2 $480,000 $240,000 $2,634 4.13%
    KINGSTON, NY (FHA|USDA|VA) 2 $470,000 $235,000 $4,255 4.94%
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 1 $385,000 $385,000 $4,076 4.63%
    Wilson, NC (FHA|USDA|VA) 1 $335,000 $335,000 $3,301 4.88%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 2 $330,000 $165,000 $3,353 4.69%
    OCEAN CITY, NJ (FHA|USDA|VA) 1 $325,000 $325,000 $3,466 3.13%
    SALISBURY, MD-DE (FHA|USDA|VA) 2 $320,000 $160,000 $2,877 4.06%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $295,000 $295,000 $8,463 5.25%
    Laconia, NH (FHA|USDA|VA) 1 $275,000 $275,000 $2,855 3.99%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $275,000 $275,000 $6,640 5.00%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $275,000 $275,000 $3,083 4.50%
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $225,000 $225,000 $3,285 4.75%
    PITTSFIELD, MA (FHA|USDA|VA) 2 $220,000 $110,000 $0 5.25%
    JACKSONVILLE, FL (FHA|USDA|VA) 1 $195,000 $195,000 $3,134 3.38%
    HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $165,000 $165,000 $3,438 4.13%
    OCALA, FL (FHA|USDA|VA) 1 $165,000 $165,000 $0 4.75%
    Lebanon, NH-VT (FHA|USDA|VA) 2 $140,000 $70,000 $2,915 3.94%
    BURLINGTON, NC (FHA|USDA|VA) 1 $115,000 $115,000 $3,148 4.50%
    Concord, NH (FHA|USDA|VA) 1 $105,000 $105,000 $2,647 4.00%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $95,000 $95,000 $0 5.38%
    THE VILLAGES, FL (FHA|USDA|VA) 1 $75,000 $75,000 $0 5.25%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $45,000 $45,000 $0 7.25%
    United Bank's top markets include Hartford, Springfield, Bridgeport, New Haven, and Worcester among others.

    Their top states include:
  • Connecticut (FHA|USDA|VA)
  • Massachusetts (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)

    • Similar Lenders

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

    APL
    Similarity Rank: 32
    The Glen Burnie Mutual Savings Bank
    Similarity Rank: 54
    N C P D Federal Credit Union
    Similarity Rank: 55
    Bogota Savings Bank
    Similarity Rank: 63
    Union County Savings Bank
    Similarity Rank: 66
    Stafford Savings Bank
    Similarity Rank: 68
    GARDEN SAVINGS FEDERAL CREDIT UNION
    Similarity Rank: 80
    Union Savings Bank
    Similarity Rank: 108
    POLISH NATIONAL
    Similarity Rank: 108
    MERRIMACK VALLEY
    Similarity Rank: 110

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,537 $441,125,000 $287,004 $2,962 4.58%
    HELOC 935 $111,145,000 $118,872 n/a 4.99%
    FHA 134 $27,330,000 $203,955 $7,041 4.29%
    VA 23 $5,785,000 $251,522 $6,959 4.43%

    For 2018, United Bank's most frequently originated type of loan was Conventional, with 1,537 originations. Their 2nd most popular type was HELOC, with 935 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,292 $350,480,000 $271,269 $4,124 4.55%
    Refi 610 $142,340,000 $233,344 $1,561 4.56%
    Home Improvement 330 $34,520,000 $104,606 $406 5.42%
    Other 280 $26,670,000 $95,250 $799 5.06%
    Cash Out Refi 117 $31,375,000 $268,162 $3,304 4.40%

    For 2018, United Bank's most frequently cited loan purpose was Home Purchase, with 1,292 originations. The 2nd most popular reason was Refi, with 610 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,146 $427,110,000 $199,026 $4,116 4.67%
    15 Year 153 $21,205,000 $138,595 $1,845 4.54%
    10 Year 134 $51,330,000 $383,060 $449 4.87%
    20 Year 101 $14,365,000 $142,228 $1,393 5.16%
    5 Year 57 $14,815,000 $259,912 $14 4.67%
    Other 31 $33,625,000 $1,084,677 $5,992 5.79%
    1 Year 5 $675,000 $135,000 $0 6.15%
    3 Year 2 $22,260,000 $11,130,000 $0 4.48%

    For 2018, United Bank's most frequently cited loan duration was 30 Year, with 2,146 originations. The 2nd most popular length was 15 Year, with 153 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 990 $196,190,000 $198,172
    $1k-2k 289 $66,985,000 $231,782
    $2k-3k 128 $34,340,000 $268,281
    $3k-4k 45 $14,935,000 $331,889
    $5k+ 17 $8,655,000 $509,118
    $4k-5k 13 $5,055,000 $388,846

    United Bank's average total fees were $4,116, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 990 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 1,480 $338,870,000 $228,966
    3-4% 549 $135,405,000 $246,639
    5-6% 380 $77,870,000 $204,921
    6-7% 142 $20,410,000 $143,732
    7-8% 55 $4,685,000 $85,182
    2.5-3% 13 $7,265,000 $558,846
    Over 8% 6 $510,000 $85,000
    <2.5% 3 $285,000 $95,000

    During 2018, United Bank's average interest rate for loans was 4.67%, while their most frequently originated rate bucket for loans was 4-5%, with 1,480 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 854 $45,240,000 $52,974 $811 5.10%
    $100k-200k 854 $123,960,000 $145,152 $3,309 4.64%
    $200k-400k 707 $189,585,000 $268,154 $4,324 4.44%
    $400k-600k 134 $63,150,000 $471,269 $5,009 4.39%
    $600k-1MM 53 $39,005,000 $735,943 $6,083 4.06%
    $1MM+ 27 $124,445,000 $4,609,074 $7,956 4.45%

    2018 saw United Bank place emphasis on $100,000 or less loans with 854 originations, totaling $45,240,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 576 $105,670,000 $183,455 $3,229 4.76%
    $50k-75k 561 $75,255,000 $134,144 $3,332 4.55%
    $75k-100k 405 $63,405,000 $156,556 $3,152 4.69%
    $150k-250k 402 $95,180,000 $236,766 $3,565 4.78%
    $50k or less 331 $37,005,000 $111,798 $3,280 4.50%
    $250k+ 209 $75,905,000 $363,182 $4,520 4.65%

    United Bank lent most frequently to those with incomes in the $100k-150k range, with 576 originations. The second most popular income band? $50k-75k, with 561 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 599 $106,195,000 $177,287 $3,073 4.71%
    30-36% 486 $88,970,000 $183,066 $3,284 4.67%
    <20% 167 $26,645,000 $159,551 $2,698 4.60%
    42% 147 $28,085,000 $191,054 $3,696 4.72%
    44% 139 $21,235,000 $152,770 $3,284 4.67%
    37% 119 $20,695,000 $173,908 $3,306 4.61%
    39% 118 $17,960,000 $152,203 $3,011 4.87%
    40% 108 $17,270,000 $159,907 $2,656 4.66%
    41% 102 $19,560,000 $191,765 $3,163 4.66%
    36% 99 $21,415,000 $216,313 $3,129 4.65%
    38% 97 $17,555,000 $180,979 $3,129 4.68%
    43% 79 $16,195,000 $205,000 $3,486 4.51%
    45% 59 $12,775,000 $216,525 $3,682 4.47%
    49% 53 $10,395,000 $196,132 $3,833 4.53%
    50-60% 49 $10,975,000 $223,980 $6,810 4.51%
    46% 37 $7,865,000 $212,568 $4,177 4.57%
    47% 37 $7,815,000 $211,216 $4,407 4.47%
    48% 30 $5,590,000 $186,333 $3,976 4.64%
    >60% 9 $2,245,000 $249,444 $2,958 4.92%

    United Bank lent most frequently to those with DTI ratios of 20-30%, with 599 originations. The next most common DTI ratio? 30-36%, with 486 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,104 $374,030,000 $177,771 $3,240 4.67%
    Not applicable 90 $122,380,000 $1,359,778 $0 5.87%
    Not provided 185 $34,405,000 $185,973 $3,495 4.84%
    Asian 113 $28,275,000 $250,221 $3,854 4.61%
    Black 107 $18,075,000 $168,925 $4,503 4.52%
    Asian Indian 13 $4,915,000 $378,077 $5,146 3.90%
    Chinese 2 $980,000 $490,000 $4,836 3.68%
    Japanese 1 $715,000 $715,000 $3,864 2.99%
    American Indian 7 $685,000 $97,857 $3,057 4.36%
    Vietnamese 2 $290,000 $145,000 $7,764 6.31%
    Korean 1 $215,000 $215,000 $5,405 4.25%
    Native Hawaiian or Islander 2 $210,000 $105,000 $3,243 4.44%
    Other Asian 2 $210,000 $105,000 $0 5.87%

    Approval Rates

    Total approvals of all applications
    87.01%

    United Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    81.36%

    United Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,629 $585,385,000 $222,665

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 37 $114,735,000 $3,100,946
    Single Family (1-4 Units):Site-Built 2,592 $470,650,000 $181,578

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 419 $58,265,000 $139,057 $1,197 4.90%
    40-60% 290 $77,430,000 $267,000 $2,694 4.54%
    60-80% 706 $235,130,000 $333,045 $3,620 4.54%
    80-100% 739 $182,415,000 $246,840 $4,409 4.48%
    Over 100% 11 $3,515,000 $319,545 $11,451 4.58%
    Under 20% 464 $28,630,000 $61,703 $100 5.26%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    UNITED COMMUNITY BANK Other type of mortgage Trouble during payment process 1 25.0%
    UNITED COMMUNITY BANK Conventional home mortgage Trouble during payment process 1 25.0%
    UNITED COMMUNITY BANK Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 25.0%
    UNITED COMMUNITY BANK Other type of mortgage Struggling to pay mortgage 1 25.0%