Georgia United Mortgage Rates, Fees & Info

Duluth, GA

LEI: 549300TE5E6DWAI74K71

Tax ID: 58-0800932

5 stars - out of 5 stars, based on 40 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Georgia United is a smaller mortgage company specializing in Other, Refi, Cash Out Refi, and Home Purchase loans. Georgia United has a high proportion of conventional loans. Their top markets include Atlanta, Dalton, Athens, Gainesville, and Jefferson among others. Georgia United has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Georgia United is typically an average fee lendor.


Originations

1,585

Origination Dollar Volume (All Markets)

$244,745,000

Relative Rate

Georgia United's average 30 year fixed rate mortgage of loans were 3.16%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.01%.

Relative Fees

Georgia United's average total fees for a 30 year fixed rate mortgage are $4,441.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1,117 $176,545,000 $158,053 $4,254 3.15%
DALTON, GA (FHA|USDA|VA) 184 $22,240,000 $120,870 $3,457 2.90%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 116 $18,140,000 $156,379 $4,293 3.12%
GAINESVILLE, GA (FHA|USDA|VA) 21 $4,105,000 $195,476 $4,494 3.13%
Outside of Metro Areas 29 $3,735,000 $128,793 $3,635 3.02%
Jefferson, GA (FHA|USDA|VA) 16 $2,750,000 $171,875 $4,666 3.22%
BRUNSWICK, GA (FHA|USDA|VA) 5 $2,725,000 $545,000 $9,860 3.10%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 20 $2,380,000 $119,000 $3,851 3.00%
Dublin, GA (FHA|USDA|VA) 23 $2,245,000 $97,609 $3,223 3.10%
Calhoun, GA (FHA|USDA|VA) 7 $1,155,000 $165,000 $4,027 3.21%
SAVANNAH, GA (FHA|USDA|VA) 3 $995,000 $331,667 $5,745 2.88%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 4 $830,000 $207,500 $4,400 3.25%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $565,000 $565,000 $7,518 3.38%
MACON-BIBB COUNTY, GA (FHA|USDA|VA) 3 $545,000 $181,667 $3,485 4.04%
MONTGOMERY, AL (FHA|USDA|VA) 1 $535,000 $535,000 $5,344 3.38%
PANAMA CITY, FL (FHA|USDA|VA) 1 $425,000 $425,000 $9,266 3.00%
Cullowhee, NC (FHA|USDA|VA) 1 $395,000 $395,000 $5,775 3.00%
COLUMBIA, SC (FHA|USDA|VA) 2 $320,000 $160,000 $3,937 3.50%
Americus, GA (FHA|USDA|VA) 3 $315,000 $105,000 $3,005 3.00%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $315,000 $315,000 $3,892 3.38%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $285,000 $285,000 $3,806 3.13%
VALDOSTA, GA (FHA|USDA|VA) 1 $285,000 $285,000 $4,230 3.25%
CLEVELAND, TN (FHA|USDA|VA) 1 $245,000 $245,000 $3,354 2.63%
WARNER ROBINS, GA (FHA|USDA|VA) 1 $245,000 $245,000 $3,139 3.25%
Statesboro, GA (FHA|USDA|VA) 1 $205,000 $205,000 $4,695 3.25%
Cedartown, GA (FHA|USDA|VA) 1 $195,000 $195,000 $5,126 3.50%
LaGrange, GA-AL (FHA|USDA|VA) 2 $190,000 $95,000 $2,177 2.44%
Cornelia, GA (FHA|USDA|VA) 1 $185,000 $185,000 $1,630 2.50%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $185,000 $185,000 $3,249 3.13%
McMinnville, TN (FHA|USDA|VA) 1 $175,000 $175,000 $3,191 3.38%
ROME, GA (FHA|USDA|VA) 2 $170,000 $85,000 $3,465 3.38%
Seneca, SC (FHA|USDA|VA) 1 $165,000 $165,000 $3,160 2.88%
COLUMBUS, GA-AL (FHA|USDA|VA) 3 $145,000 $48,333 $3,011 3.42%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $145,000 $145,000 $4,789 2.88%
Vidalia, GA (FHA|USDA|VA) 2 $130,000 $65,000 $2,791 2.31%
Douglas, GA (FHA|USDA|VA) 1 $125,000 $125,000 $4,214 2.88%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $115,000 $115,000 $1,661 2.50%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $85,000 $85,000 $3,224 2.25%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $75,000 $75,000 $0 3.13%
Toccoa, GA (FHA|USDA|VA) 1 $65,000 $65,000 $3,017 2.25%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $35,000 $35,000 $0 3.13%
ALBANY, GA (FHA|USDA|VA) 1 $35,000 $35,000 $0 3.63%

Georgia United's top markets include Atlanta, Dalton, Athens, Gainesville, and Jefferson among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,585 $244,745,000 $154,413 $4,105 3.11%

For the 2021 period, Georgia United's most frequently originated loan type of loans were Conventional, with 1,585 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Other 594 $53,650,000 $90,320 $2,954 3.42%
Refi 378 $60,430,000 $159,868 $3,703 2.73%
Cash Out Refi 304 $55,180,000 $181,513 $4,175 2.99%
Home Purchase 263 $70,525,000 $268,156 $4,572 3.08%
Home Improvement 46 $4,960,000 $107,826 $10,201 3.33%

For the 2021, Georgia United's most frequently cited loan purpose of loans were Other, with 594 originations. The 2nd most popular reason of loans were Refi, with 378 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 638 $57,700,000 $90,439 $2,448 3.41%
30 Year 557 $129,145,000 $231,858 $4,441 3.16%
15 Year 253 $36,915,000 $145,909 $3,569 2.47%
20 Year 85 $15,125,000 $177,941 $4,142 2.92%
10 Year 52 $5,860,000 $112,692 $3,064 2.33%

For the 2021, Georgia United's most frequently cited loan length of loans were Other, with 638 originations. The 2nd most popular length of loans were 30 Year, with 557 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 459 $72,545,000 $158,050
$2k-3k 204 $48,590,000 $238,186
$<1k 119 $11,145,000 $93,655
$3k-4k 107 $35,785,000 $334,439
$5k+ 27 $15,645,000 $579,444

$4,441 of loans were Georgia United's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 459 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 954 $133,530,000 $139,969
2.5-3% 356 $73,190,000 $205,590
<2.5% 251 $34,905,000 $139,064
4-5% 23 $2,995,000 $130,217
5-6% 1 $125,000 $125,000

During 2021, Georgia United's average interest rate of loans were 3.16%, while their most frequently originated rate bucket of loans were 3-4%, with 954 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100,000 or less 597 $35,195,000 $58,953 $2,833 3.19%
$100k-200k 588 $83,490,000 $141,990 $3,600 3.04%
$200k-400k 332 $88,660,000 $267,048 $4,797 3.10%
$400k-600k 51 $24,045,000 $471,471 $6,750 3.04%
$600k-1MM 15 $10,835,000 $722,333 $9,779 3.16%
$1MM+ 2 $2,520,000 $1,260,000 $13,811 3.25%

2021 saw Georgia United place emphasis on $100,000 or less loans with 597 originations, totaling $35,195,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 348 $45,350,000 $130,316 $3,724 3.06%
$100k-150k 334 $56,190,000 $168,234 $4,516 3.16%
$75k-100k 310 $46,190,000 $149,000 $3,997 3.08%
$50k or less 272 $27,120,000 $99,706 $3,257 3.02%
$150k-250k 235 $42,645,000 $181,468 $5,385 3.24%
$250k+ 83 $26,245,000 $316,205 $7,984 3.25%

Georgia United lent most frequently to those with incomes in the $50k-75k range, with 348 originations. The second most popular income band? $100k-150k, with 334 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 365 $57,865,000 $158,534 $4,038 3.02%
30-36% 301 $46,935,000 $155,930 $4,111 3.10%
<20% 136 $19,240,000 $141,471 $3,607 2.86%
49% 89 $9,365,000 $105,225 $4,125 3.38%
42% 64 $11,900,000 $185,938 $4,425 3.20%
48% 63 $8,005,000 $127,063 $4,035 3.31%
41% 58 $10,700,000 $184,483 $4,430 3.22%
38% 56 $8,720,000 $155,714 $4,300 3.09%
39% 56 $10,150,000 $181,250 $4,401 3.20%
44% 56 $8,160,000 $145,714 $4,221 3.15%
43% 53 $8,945,000 $168,774 $4,054 3.16%
47% 51 $5,335,000 $104,608 $4,251 3.28%
46% 50 $6,420,000 $128,400 $3,931 3.22%
36% 50 $8,880,000 $177,600 $4,110 3.03%
45% 46 $6,890,000 $149,783 $4,343 3.08%
37% 44 $8,440,000 $191,818 $4,503 3.16%
40% 43 $7,705,000 $179,186 $4,361 3.25%
50-60% 1 $85,000 $85,000 $0 3.13%

Georgia United lent most frequently to those with DTI ratios of 20-30%, with 365 originations. The next most common DTI ratio? 30-36%, with 301 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 871 $137,025,000 $157,319 $4,158 3.11%
Not provided 318 $47,980,000 $150,881 $3,998 3.09%
Black 326 $45,960,000 $140,982 $3,935 3.15%
Asian 38 $7,100,000 $186,842 $4,827 3.05%
American Indian 17 $3,205,000 $188,529 $3,874 2.99%
Asian Indian 8 $2,270,000 $283,750 $9,658 3.25%
Other Asian 5 $925,000 $185,000 $3,986 3.28%
Chinese 1 $265,000 $265,000 $5,038 2.50%
Filipino 1 $15,000 $15,000 $0 3.13%

Approval Rates

Total approvals of all applications
78.31%

Georgia United has a below average approval rate.

Pick Rate

Approvals leading to origination
54.27%

Georgia United 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 1,585 $244,745,000 $154,413

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,585 $244,745,000 $154,413

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 302 $35,280,000 $116,821 $3,175 3.14%
40-60% 299 $44,275,000 $148,077 $3,620 2.84%
60-80% 367 $74,145,000 $202,030 $4,339 3.01%
80-100% 262 $69,850,000 $266,603 $4,593 3.13%
Under 20% 355 $21,195,000 $59,704 $4,123 3.42%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
GERSHMAN INVESTMENT CORPORATION FHA mortgage Closing on a mortgage 1 100.0%