United Home Loans Mortgage Rates, Fees & Info
CHICAGO, ILLEI: 549300UKYJZO6CZXIX60
Tax ID: 36-4489176
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Mortgage Data
Review & Overview
United Home Loans is a smaller mortgage company specializing in Home Purchase 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.) Their top markets by origination volume include: Chicago, Nashville, Whitewater, Milwaukee, and Minneapolis among others. We have data for 26 markets. (Some data included below & more in-depth data is available with an active subscription.)United Home Loans 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 Home Loans is typically a low 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 | 6.50% | 4/14/24 |
| 30 Year Conventional Refi | 6.22% | 4/14/24 |
| 30 Year Cash-out Refi | 5.95% | 4/14/24 |
| 30 Year FHA Purchase | 7.32% | 4/14/24 |
| 30 Year FHA Refi | 6.45% | 4/14/24 |
| 30 Year VA Purchase | 6.44% | 4/14/24 |
| 30 Year USDA Purchase | 6.43% | 4/14/24 |
| 15 Year Conventional Purchase | 6.22% | 4/14/24 |
| 15 Year Conventional Refi | 6.01% | 4/14/24 |
| 15 Year Cash-out Refi | 6.01% | 4/14/24 |
| 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 Home Loans Mortgage Calculator
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
490Origination Dollar Volume (All Markets)
$142,190,000Top 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 |
|---|---|---|---|---|---|
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 443 | $129,405,000 | $292,111 | $4,701 | 4.66% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 7 | $2,065,000 | $295,000 | $3,795 | 4.52% |
| Outside of Metro Areas | 5 | $1,605,000 | $321,000 | $3,463 | 4.97% |
| Whitewater, WI (FHA|USDA|VA) | 4 | $1,140,000 | $285,000 | $3,410 | 4.75% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 4 | $860,000 | $215,000 | $2,390 | 4.75% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 3 | $815,000 | $271,667 | $3,415 | 4.46% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 2 | $770,000 | $385,000 | $3,051 | 4.50% |
| NILES, MI (FHA|USDA|VA) | 3 | $715,000 | $238,333 | $3,178 | 4.71% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $4,297 | 4.63% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $2,928 | 4.63% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $4,933 | 3.75% |
| MADISON, WI (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $2,622 | 4.50% |
| MORRISTOWN, TN (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $3,488 | 4.63% |
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $5,337 | 5.13% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $2,660 | 4.50% |
| Coldwater, MI (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,087 | 4.63% |
| SHEBOYGAN, WI (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $2,607 | 4.50% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $4,114 | 4.63% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,835 | 4.38% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,321 | 4.88% |
| MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,797 | 4.75% |
| HINESVILLE, GA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 4.63% |
| JANESVILLE-BELOIT, WI (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,223 | 4.75% |
| ROCKFORD, IL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,101 | 5.00% |
| RACINE, WI (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,357 | 3.99% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,718 | 4.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against UNITED HOME LOANS based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 462 | $135,600,000 | $293,506 | $4,454 | 4.65% |
| FHA | 26 | $6,100,000 | $234,615 | $6,847 | 4.77% |
| VA | 2 | $490,000 | $245,000 | $2,289 | 4.94% |
For 2018, United Home Loans's most frequently originated type of loan was Conventional, with 462 originations. Their 2nd most popular type was FHA, with 26 originations.
Loan Reason
For 2018, United Home Loans's most frequently cited loan purpose was Home Purchase, with 417 originations. The 2nd most popular reason was Cash Out Refi, with 40 originations.
Loan Duration/Length
For 2018, United Home Loans's most frequently cited loan duration was 30 Year, with 452 originations. The 2nd most popular length was 15 Year, with 29 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 479 | $138,285,000 | $288,695 |
| $<1k | 6 | $2,190,000 | $365,000 |
| $2k-3k | 3 | $1,085,000 | $361,667 |
United Home Loans's average total fees were $4,634, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 479 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 404 | $118,900,000 | $294,307 |
| 5-6% | 55 | $13,345,000 | $242,636 |
| 3-4% | 30 | $9,820,000 | $327,333 |
| 6-7% | 1 | $125,000 | $125,000 |
During 2018, United Home Loans's average interest rate for loans was 4.69%, while their most frequently originated rate bucket for loans was 4-5%, with 404 originations.
Loan Sizing
2018 saw United Home Loans place emphasis on $200k-400k loans with 271 originations, totaling $79,755,000 in origination value.
Applicant Income
United Home Loans lent most frequently to those with incomes in the $100k-150k range, with 143 originations. The second most popular income band? $75k-100k, with 98 originations.
Applicant Debt to Income Ratio
United Home Loans lent most frequently to those with DTI ratios of 20-30%, with 113 originations. The next most common DTI ratio? 30-36%, with 102 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.31%
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 origination74.69%
United Home Loans has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3858.85 | 1 | $175,000 | $175,000 |
| NA | 489 | $142,015,000 | $290,419 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 490 | $142,190,000 | $290,184 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| UNITED COMMUNITY BANK | Conventional home mortgage | Trouble during payment process | 1 | 25.0% |
| UNITED COMMUNITY BANK | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 25.0% |
| UNITED COMMUNITY BANK | Other type of mortgage | Struggling to pay mortgage | 1 | 25.0% |
| UNITED COMMUNITY BANK | Other type of mortgage | Trouble during payment process | 1 | 25.0% |