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 markets by origination volume include: New York, Philadelphia, and Trenton among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)United Teletech Financial 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 Teletech Financial is typically a high 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% | 6/26/24 |
| 30 Year Cash-out Refi | 6.65% | 6/26/24 |
| 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
150Origination Dollar Volume (All Markets)
$14,770,000Top 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) | 147 | $14,305,000 | $97,313 | $603 | 4.77% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $384 | 2.99% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $368 | 2.90% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 150 | $14,770,000 | $98,467 | $599 | 4.73% |
For 2020, United Teletech Financial's most frequently originated type of loan was Conventional, with 150 originations.
Loan Reason
For 2020, United Teletech Financial's most frequently cited loan purpose was Home Improvement, with 148 originations. The 2nd most popular reason was Home Purchase, with 1 originations.
Loan Duration/Length
For 2020, United Teletech Financial's most frequently cited loan duration was 10 Year, with 122 originations. The 2nd most popular length was Other, with 15 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 148 | $13,600,000 | $91,892 |
| $1k-2k | 2 | $1,170,000 | $585,000 |
United Teletech Financial's average total fees were $19,281, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 148 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 138 | $13,030,000 | $94,420 |
| 3-4% | 10 | $1,670,000 | $167,000 |
| <2.5% | 1 | $45,000 | $45,000 |
| Over 8% | 1 | $25,000 | $25,000 |
During 2020, United Teletech Financial's average interest rate for loans was 3.56%, while their most frequently originated rate bucket for loans was 2.5-3%, with 138 originations.
Loan Sizing
2020 saw United Teletech Financial place emphasis on $100,000 or less loans with 96 originations, totaling $4,610,000 in origination value.
Applicant Income
United Teletech Financial lent most frequently to those with incomes in the $100k-150k range, with 47 originations. The second most popular income band? $150k-250k, with 46 originations.
Applicant Debt to Income Ratio
United Teletech Financial lent most frequently to those with DTI ratios of 30-36%, with 40 originations. The next most common DTI ratio? 20-30%, with 26 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications82.49%
United Teletech Financial has a below average approval rate.
Pick Rate
Approvals leading to origination80.67%
United Teletech Financial has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 150 | $14,770,000 | $98,467 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 150 | $14,770,000 | $98,467 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| United Shore Financial Services, LLC | Conventional home mortgage | Problem with a credit reporting company's investigation into an existing problem | 3 | 2.7% |
| United Shore Financial Services, LLC | Conventional home mortgage | Closing on a mortgage | 13 | 11.5% |
| United Shore Financial Services, LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 12 | 10.6% |
| United Shore Financial Services, LLC | VA mortgage | Trouble during payment process | 4 | 3.5% |
| United Shore Financial Services, LLC | VA mortgage | Struggling to pay mortgage | 2 | 1.8% |
| United Shore Financial Services, LLC | Other type of mortgage | Trouble during payment process | 1 | 0.9% |
| United Shore Financial Services, LLC | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 0.9% |
| United Shore Financial Services, LLC | FHA mortgage | Trouble during payment process | 6 | 5.3% |
| United Shore Financial Services, LLC | FHA mortgage | Struggling to pay mortgage | 2 | 1.8% |
| United Shore Financial Services, LLC | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 3 | 2.7% |
| United Shore Financial Services, LLC | Conventional home mortgage | Trouble during payment process | 48 | 42.5% |
| United Shore Financial Services, LLC | Conventional home mortgage | Struggling to pay mortgage | 9 | 8.0% |
| United Shore Financial Services, LLC | Conventional home mortgage | Incorrect information on your report | 3 | 2.7% |
| United Shore Financial Services, LLC | VA mortgage | Incorrect information on your report | 1 | 0.9% |
| United Shore Financial Services, LLC | VA mortgage | Closing on a mortgage | 4 | 3.5% |
| United Shore Financial Services, LLC | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 0.9% |