United Home Loans Mortgage Rates, Fees & Info

CHICAGO, IL

LEI: 549300UKYJZO6CZXIX60

Tax ID: 36-4489176

5 stars - out of 5 stars, based on 32 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

United Home Loans is a smaller mortgage company specializing in Home Purchase and Refi loans. United Home Loans has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets include Chicago, Nashville, Minneapolis, Milwaukee, and Cape Coral among others. United Home Loans has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. United Home Loans is typically an average fee lendor.


Originations

1,028

Origination Dollar Volume (All Markets)

$361,370,000

Awards

UNITED HOME LOANS  FHA Loans silver
Show all (1) awards

Relative Rate

United Home Loans 's average 30 year fixed rate mortgage of loans were 3.03%.

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

This yields a difference of -0.12%.

Relative Fees

United Home Loans 's average total fees for a 30 year fixed rate mortgage are $4,137.

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
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 905 $313,055,000 $345,917 $4,116 2.96%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 25 $10,445,000 $417,800 $3,882 3.06%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 9 $5,595,000 $621,667 $4,350 3.10%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 11 $4,335,000 $394,091 $2,185 3.06%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 7 $2,785,000 $397,857 $3,575 2.73%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 4 $2,340,000 $585,000 $4,549 3.06%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 3 $2,225,000 $741,667 $7,070 2.83%
MADISON, WI (FHA|USDA|VA) 4 $1,810,000 $452,500 $2,817 2.83%
Whitewater, WI (FHA|USDA|VA) 4 $1,790,000 $447,500 $2,920 2.97%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 6 $1,660,000 $276,667 $5,939 2.94%
Outside of Metro Areas 5 $1,615,000 $323,000 $3,559 3.15%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $1,360,000 $680,000 $6,540 3.19%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $1,045,000 $1,045,000 $8,124 2.75%
KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 2 $1,030,000 $515,000 $3,658 2.63%
DULUTH, MN-WI (FHA|USDA|VA) 3 $715,000 $238,333 $3,411 3.00%
RACINE, WI (FHA|USDA|VA) 2 $710,000 $355,000 $2,388 2.56%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 2 $640,000 $320,000 $2,705 2.68%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $595,000 $595,000 $3,767 2.25%
KNOXVILLE, TN (FHA|USDA|VA) 2 $530,000 $265,000 $3,552 2.87%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 2 $510,000 $255,000 $3,517 3.37%
Edwards, CO (FHA|USDA|VA) 1 $505,000 $505,000 $3,051 2.99%
PEORIA, IL (FHA|USDA|VA) 2 $490,000 $245,000 $5,782 3.19%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $485,000 $485,000 $6,671 2.88%
Ottawa, IL (FHA|USDA|VA) 2 $470,000 $235,000 $2,964 2.97%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $410,000 $205,000 $3,267 3.00%
OCALA, FL (FHA|USDA|VA) 1 $405,000 $405,000 $4,714 3.13%
KANKAKEE, IL (FHA|USDA|VA) 2 $390,000 $195,000 $2,616 2.81%
SHEBOYGAN, WI (FHA|USDA|VA) 1 $385,000 $385,000 $2,532 3.13%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $315,000 $315,000 $4,022 2.88%
NILES, MI (FHA|USDA|VA) 2 $280,000 $140,000 $2,712 2.81%
Plymouth, IN (FHA|USDA|VA) 1 $275,000 $275,000 $3,310 2.63%
Red Wing, MN (FHA|USDA|VA) 1 $235,000 $235,000 $6,017 3.88%
ROCKFORD, IL (FHA|USDA|VA) 1 $235,000 $235,000 $3,078 3.88%
Scottsburg, IN (FHA|USDA|VA) 1 $225,000 $225,000 $2,169 2.38%
Stevens Point, WI (FHA|USDA|VA) 1 $215,000 $215,000 $5,045 2.95%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $185,000 $185,000 $3,051 3.50%
FORT COLLINS, CO (FHA|USDA|VA) 1 $185,000 $185,000 $2,731 3.12%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $175,000 $175,000 $2,686 3.13%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $175,000 $175,000 $3,691 2.50%
JANESVILLE-BELOIT, WI (FHA|USDA|VA) 1 $175,000 $175,000 $2,667 3.00%
BOWLING GREEN, KY (FHA|USDA|VA) 1 $175,000 $175,000 $3,554 3.25%
BLOOMINGTON, IL (FHA|USDA|VA) 1 $115,000 $115,000 $2,436 3.13%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1 $75,000 $75,000 $2,960 4.25%

United Home Loans 's top markets include Chicago, Nashville, Minneapolis, Milwaukee, and Cape Coral among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 985 $349,215,000 $354,533 $3,917 2.97%
FHA 32 $8,590,000 $268,438 $8,076 2.91%
VA 10 $3,400,000 $340,000 $6,725 2.65%
USDA 1 $165,000 $165,000 $6,668 3.25%

For the 2021 period, United Home Loans 's most frequently originated loan type of loans were Conventional, with 985 originations. Their 2nd most popular type is FHA, with 32 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 517 $187,425,000 $362,524 $5,332 2.98%
Refi 437 $148,605,000 $340,057 $2,859 2.91%
Cash Out Refi 71 $23,635,000 $332,887 $2,501 3.14%
Home Improvement 3 $1,705,000 $568,333 $3,706 3.04%

For the 2021, United Home Loans 's most frequently cited loan purpose of loans were Home Purchase, with 517 originations. The 2nd most popular reason of loans were Refi, with 437 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 870 $312,540,000 $359,241 $4,137 3.03%
15 Year 113 $35,445,000 $313,673 $4,267 2.52%
20 Year 20 $6,240,000 $312,000 $2,278 2.84%
Other 18 $4,880,000 $271,111 $2,567 2.96%
10 Year 7 $2,265,000 $323,571 $2,826 2.41%

For the 2021, United Home Loans 's most frequently cited loan length of loans were 30 Year, with 870 originations. The 2nd most popular length of loans were 15 Year, with 113 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 991 $347,645,000 $350,802
$2k-3k 12 $5,070,000 $422,500
$3k-4k 7 $2,305,000 $329,286
$5k+ 6 $2,730,000 $455,000
$<1k 5 $1,725,000 $345,000

$4,137 of loans were United Home Loans 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 991 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 566 $207,340,000 $366,325
3-4% 318 $104,970,000 $330,094
<2.5% 125 $44,335,000 $354,680
4-5% 19 $4,725,000 $248,684

During 2021, United Home Loans 's average interest rate of loans were 3.03%, while their most frequently originated rate bucket of loans were 2.5-3%, with 566 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 515 $151,355,000 $293,893 $4,279 2.96%
$400k-600k 221 $106,655,000 $482,602 $4,120 2.87%
$100k-200k 187 $29,765,000 $159,171 $3,384 3.07%
$600k-1MM 67 $50,795,000 $758,134 $4,179 2.99%
$100,000 or less 20 $1,620,000 $81,000 $3,027 3.02%
$1MM+ 18 $21,180,000 $1,176,667 $5,833 2.94%

2021 saw United Home Loans place emphasis on $200k-400k loans with 515 originations, totaling $151,355,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$150k-250k 253 $101,745,000 $402,154 $3,971 2.94%
$100k-150k 248 $82,360,000 $332,097 $4,487 2.99%
$75k-100k 168 $46,210,000 $275,060 $3,938 3.01%
$50k-75k 154 $32,180,000 $208,961 $4,092 2.94%
$250k+ 150 $86,550,000 $577,000 $3,862 2.94%
$50k or less 52 $11,350,000 $218,269 $3,775 2.90%

United Home Loans lent most frequently to those with incomes in the $150k-250k range, with 253 originations. The second most popular income band? $100k-150k, with 248 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 304 $111,440,000 $366,579 $3,903 2.95%
30-36% 224 $78,480,000 $350,357 $3,943 2.98%
<20% 116 $39,230,000 $338,190 $3,209 2.87%
37% 43 $14,065,000 $327,093 $3,828 3.01%
43% 37 $13,175,000 $356,081 $3,872 2.95%
42% 36 $12,290,000 $341,389 $4,534 3.04%
38% 34 $12,010,000 $353,235 $4,032 2.96%
36% 31 $13,305,000 $429,194 $10,049 2.99%
39% 27 $9,935,000 $367,963 $4,351 2.97%
40% 26 $9,040,000 $347,692 $3,720 2.96%
41% 25 $8,305,000 $332,200 $3,671 3.07%
44% 25 $7,305,000 $292,200 $4,013 2.88%
45% 21 $6,675,000 $317,857 $4,211 2.99%
49% 20 $7,690,000 $384,500 $4,037 3.03%
46% 18 $5,480,000 $304,444 $4,122 3.12%
47% 17 $4,925,000 $289,706 $3,646 2.98%
48% 17 $5,655,000 $332,647 $4,410 2.98%
50-60% 6 $2,160,000 $360,000 $6,677 2.73%
>60% 1 $205,000 $205,000 $1,783 2.25%

United Home Loans lent most frequently to those with DTI ratios of 20-30%, with 304 originations. The next most common DTI ratio? 30-36%, with 224 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 855 $303,535,000 $355,012 $3,985 2.95%
Not provided 116 $39,070,000 $336,810 $4,639 3.02%
Asian 32 $11,930,000 $372,813 $4,495 3.02%
Black 15 $3,865,000 $257,667 $4,668 2.87%
Asian Indian 5 $1,385,000 $277,000 $3,403 2.97%
American Indian 3 $815,000 $271,667 $3,023 2.71%
Chinese 1 $455,000 $455,000 $5,246 2.99%
Korean 1 $315,000 $315,000 $1,934 2.50%

Approval Rates

Total approvals of all applications
97.88%

United Home Loans has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
81.45%

United Home Loans has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 1,028 $361,370,000 $351,527

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,028 $361,370,000 $351,527

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 36 $10,130,000 $281,389 $2,858 2.73%
40-60% 116 $31,920,000 $275,172 $4,207 2.86%
60-80% 465 $172,705,000 $371,409 $3,324 3.01%
80-100% 401 $144,255,000 $359,738 $4,967 2.96%
Over 100% 5 $1,655,000 $331,000 $10,614 2.75%
Under 20% 5 $705,000 $141,000 $2,445 2.57%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
United Home Loan Services Inc. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%