United Teletech Financial Mortgage Rates, Fees & Info
TINTON FALLS, NJLEI: 549300TR6SGFPJQYJS20
Tax ID: 22-1861352
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Mortgage Data
Review & Overview
United Teletech Financial is a smaller mortgage company specializing in Home Improvement loans. United Teletech Financial has a high proportion of conventional loans. Their top two markets are New York and Trenton .United Teletech Financial 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. United Teletech Financial 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 5.36% | 12/16/24 |
| 30 Year Cash-out Refi | 6.65% | 12/16/24 |
| 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. | ||
United Teletech Financial Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
8Origination Dollar Volume (All Markets)
$820,000Top 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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 7 | $635,000 | $90,714 | $1,489 | 5.53% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 4.24% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 8 | $820,000 | $102,500 | $1,276 | 5.37% |
For 2019, United Teletech Financial's most frequently originated type of loan was Conventional, with 8 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Improvement | 8 | $820,000 | $102,500 | $1,276 | 5.37% |
For 2019, United Teletech Financial's most frequently cited loan purpose was Home Improvement, with 8 originations.
Loan Duration/Length
For 2019, United Teletech Financial's most frequently cited loan duration was 5 Year, with 3 originations. The 2nd most popular length was Other, with 3 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 1 | $195,000 | $195,000 |
United Teletech Financial's average total fees were $6,962, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 3 | $115,000 | $38,333 |
| 4-5% | 2 | $390,000 | $195,000 |
| 3-4% | 1 | $195,000 | $195,000 |
| 6-7% | 1 | $15,000 | $15,000 |
| 7-8% | 1 | $105,000 | $105,000 |
During 2019, United Teletech Financial's average interest rate for loans was 3.97%, while their most frequently originated rate bucket for loans was 5-6%, with 3 originations.
Loan Sizing
2019 saw United Teletech Financial place emphasis on $100,000 or less loans with 4 originations, totaling $130,000 in origination value.
Applicant Income
United Teletech Financial lent most frequently to those with incomes in the $100k-150k range, with 3 originations. The second most popular income band? $150k-250k, with 2 originations.
Applicant Debt to Income Ratio
United Teletech Financial lent most frequently to those with DTI ratios of <20%, with 2 originations. The next most common DTI ratio? 30-36%, with 1 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.83%
United Teletech Financial has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination12.50%
United Teletech Financial 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 | 8 | $820,000 | $102,500 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 8 | $820,000 | $102,500 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 3 | $495,000 | $165,000 | $168 | 5.45% |
| 60-80% | 1 | $195,000 | $195,000 | $6,962 | 3.97% |
| Under 20% | 4 | $130,000 | $32,500 | $409 | 5.65% |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| United Shore Financial Services, LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 6.1% |
| United Shore Financial Services, LLC | VA mortgage | Trouble during payment process | 1 | 3.0% |
| United Shore Financial Services, LLC | VA mortgage | Closing on a mortgage | 2 | 6.1% |
| United Shore Financial Services, LLC | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 4 | 12.1% |
| United Shore Financial Services, LLC | Conventional home mortgage | Trouble during payment process | 15 | 45.5% |
| United Shore Financial Services, LLC | Conventional home mortgage | Struggling to pay mortgage | 2 | 6.1% |
| United Shore Financial Services, LLC | Conventional home mortgage | Incorrect information on your report | 1 | 3.0% |
| United Shore Financial Services, LLC | FHA mortgage | Trouble during payment process | 4 | 12.1% |
| United Shore Financial Services, LLC | FHA mortgage | Closing on a mortgage | 2 | 6.1% |