United Teletech Financial Mortgage Rates, Fees & Info

TINTON FALLS, NJ

LEI: 549300TR6SGFPJQYJS20

Tax ID: 22-1861352

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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 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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    Originations

    150

    Origination Dollar Volume (All Markets)

    $14,770,000

    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
    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%
    United Teletech Financial's top markets include New York, Philadelphia, and Trenton among others.

    Their top states include:
  • New Jersey (FHA|USDA|VA)

    • 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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 148 $13,600,000 $91,892 $345 4.75%
    Home Purchase 1 $715,000 $715,000 $26,153 3.38%
    Refi 1 $455,000 $455,000 $12,409 3.75%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 122 $12,230,000 $100,246 $342 5.11%
    Other 15 $1,035,000 $69,000 $340 3.07%
    5 Year 11 $335,000 $30,455 $376 2.99%
    30 Year 2 $1,170,000 $585,000 $19,281 3.56%

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 96 $4,610,000 $48,021 $348 5.70%
    $100k-200k 36 $4,980,000 $138,333 $352 2.99%
    $200k-400k 15 $3,555,000 $237,000 $309 3.01%
    $400k-600k 2 $910,000 $455,000 $6,388 3.37%
    $600k-1MM 1 $715,000 $715,000 $26,153 3.38%

    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

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 47 $3,665,000 $77,979 $336 8.48%
    $150k-250k 46 $6,020,000 $130,870 $607 3.00%
    $75k-100k 23 $1,675,000 $72,826 $340 3.10%
    $250k+ 14 $2,290,000 $163,571 $2,197 3.02%
    $50k-75k 12 $600,000 $50,000 $376 2.99%
    $50k or less 8 $520,000 $65,000 $346 2.99%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 40 $3,010,000 $75,250 $342 3.03%
    20-30% 26 $2,110,000 $81,154 $353 2.99%
    42% 17 $1,585,000 $93,235 $293 3.01%
    41% 16 $2,190,000 $136,875 $1,956 3.01%
    <20% 11 $745,000 $67,727 $374 26.35%
    40% 11 $1,005,000 $91,364 $368 3.04%
    39% 9 $1,595,000 $177,222 $1,706 3.19%
    37% 6 $940,000 $156,667 $373 2.99%
    38% 4 $260,000 $65,000 $378 2.99%
    36% 4 $440,000 $110,000 $309 2.99%
    43% 3 $515,000 $171,667 $368 2.99%
    50-60% 2 $330,000 $165,000 $249 2.99%
    48% 1 $45,000 $45,000 $368 2.99%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 109 $10,775,000 $98,853 $702 5.38%
    Asian Indian 10 $1,520,000 $152,000 $249 2.98%
    Black 14 $890,000 $63,571 $334 3.06%
    Not provided 10 $790,000 $79,000 $368 3.02%
    Asian 6 $680,000 $113,333 $368 2.99%
    American Indian 1 $115,000 $115,000 $368 2.99%

    Approval Rates

    Total approvals of all applications
    82.49%

    United Teletech Financial has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    80.67%

    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

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 42 $5,250,000 $125,000 $343 2.99%
    40-60% 14 $2,750,000 $196,429 $336 2.99%
    60-80% 7 $2,585,000 $369,286 $5,776 3.15%
    Under 20% 87 $4,185,000 $48,103 $345 5.98%

    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%