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, Trenton, Atlantic City, and Philadelphia among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)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. 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% | 5/5/24 |
| 30 Year Cash-out Refi | 6.65% | 5/5/24 |
| 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
226Origination Dollar Volume (All Markets)
$24,430,000Top 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) | 221 | $23,835,000 | $107,851 | $0 | 3.28% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 3 | $515,000 | $171,667 | $0 | 3.04% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 2.99% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 4.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 226 | $24,430,000 | $108,097 | $0 | 3.27% |
For 2021, United Teletech Financial's most frequently originated type of loan was Conventional, with 226 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Improvement | 223 | $24,415,000 | $109,484 | $0 | 3.28% |
| Home Purchase | 3 | $15,000 | $5,000 | $0 | 3.00% |
For 2021, United Teletech Financial's most frequently cited loan purpose was Home Improvement, with 223 originations. The 2nd most popular reason was Home Purchase, with 3 originations.
Loan Duration/Length
For 2021, United Teletech Financial's most frequently cited loan duration was 10 Year, with 117 originations. The 2nd most popular length was 15 Year, with 42 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 93 | $7,265,000 | $78,118 |
| 2.5-3% | 56 | $5,960,000 | $106,429 |
| <2.5% | 41 | $7,715,000 | $188,171 |
| 4-5% | 33 | $3,375,000 | $102,273 |
| 5-6% | 3 | $115,000 | $38,333 |
During 2021, United Teletech Financial's average interest rate for loans was 3.00%, while their most frequently originated rate bucket for loans was 3-4%, with 93 originations.
Loan Sizing
2021 saw United Teletech Financial place emphasis on $100,000 or less loans with 133 originations, totaling $6,445,000 in origination value.
Applicant Income
United Teletech Financial lent most frequently to those with incomes in the $150k-250k range, with 73 originations. The second most popular income band? $100k-150k, with 62 originations.
Applicant Debt to Income Ratio
United Teletech Financial lent most frequently to those with DTI ratios of 20-30%, with 47 originations. The next most common DTI ratio? 30-36%, with 46 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.24%
United Teletech Financial has an average approval rate.
Pick Rate
Approvals leading to origination83.63%
United Teletech Financial has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 226 | $24,430,000 | $108,097 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| United Shore Financial Services, LLC | Conventional home mortgage | Closing on a mortgage | 12 | 6.0% |
| United Shore Financial Services, LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 8 | 4.0% |
| United Shore Financial Services, LLC | VA mortgage | Trouble during payment process | 12 | 6.0% |
| United Shore Financial Services, LLC | FHA mortgage | Struggling to pay mortgage | 5 | 2.5% |
| United Shore Financial Services, LLC | FHA mortgage | Problem with a credit reporting company's investigation into an existing problem | 1 | 0.5% |
| United Shore Financial Services, LLC | FHA mortgage | Incorrect information on your report | 1 | 0.5% |
| United Shore Financial Services, LLC | FHA mortgage | Credit monitoring or identity theft protection services | 1 | 0.5% |
| United Shore Financial Services, LLC | FHA mortgage | Closing on a mortgage | 3 | 1.5% |
| United Shore Financial Services, LLC | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 3 | 1.5% |
| United Shore Financial Services, LLC | Conventional home mortgage | Trouble during payment process | 119 | 59.5% |
| United Shore Financial Services, LLC | Conventional home mortgage | Struggling to pay mortgage | 10 | 5.0% |
| United Shore Financial Services, LLC | Conventional home mortgage | Problem with a credit reporting company's investigation into an existing problem | 2 | 1.0% |
| United Shore Financial Services, LLC | Conventional home mortgage | Incorrect information on your report | 3 | 1.5% |
| United Shore Financial Services, LLC | VA mortgage | Struggling to pay mortgage | 2 | 1.0% |
| United Shore Financial Services, LLC | VA mortgage | Closing on a mortgage | 2 | 1.0% |
| United Shore Financial Services, LLC | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 3 | 1.5% |
| United Shore Financial Services, LLC | Other type of mortgage | Closing on a mortgage | 1 | 0.5% |
| United Shore Financial Services, LLC | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 3 | 1.5% |
| United Shore Financial Services, LLC | FHA mortgage | Trouble during payment process | 9 | 4.5% |