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 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.) Their top markets by origination volume include: Chicago, Milwaukee, Nashville, Whitewater, and Michigan City among others. We have data for 30 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% | 4/21/24 |
| 30 Year Conventional Refi | 6.22% | 4/21/24 |
| 30 Year Cash-out Refi | 5.95% | 4/21/24 |
| 30 Year FHA Purchase | 7.32% | 4/21/24 |
| 30 Year FHA Refi | 6.45% | 4/21/24 |
| 30 Year VA Purchase | 6.44% | 4/21/24 |
| 30 Year USDA Purchase | 6.43% | 4/21/24 |
| 15 Year Conventional Purchase | 6.22% | 4/21/24 |
| 15 Year Conventional Refi | 6.01% | 4/21/24 |
| 15 Year Cash-out Refi | 6.01% | 4/21/24 |
| 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
800Origination Dollar Volume (All Markets)
$245,510,000Top 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) | 730 | $224,080,000 | $306,959 | $3,850 | 4.03% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 8 | $3,090,000 | $386,250 | $2,879 | 4.01% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 8 | $2,890,000 | $361,250 | $3,917 | 3.80% |
| Outside of Metro Areas | 8 | $2,340,000 | $292,500 | $2,732 | 3.86% |
| Whitewater, WI (FHA|USDA|VA) | 5 | $2,285,000 | $457,000 | $2,522 | 4.23% |
| MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) | 3 | $855,000 | $285,000 | $2,338 | 4.08% |
| MADISON, WI (FHA|USDA|VA) | 2 | $830,000 | $415,000 | $2,141 | 4.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 3 | $725,000 | $241,667 | $3,986 | 3.83% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 2 | $670,000 | $335,000 | $2,593 | 3.94% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 3 | $635,000 | $211,667 | $3,886 | 3.92% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $3,253 | 4.00% |
| NILES, MI (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $2,588 | 3.87% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 3 | $545,000 | $181,667 | $2,474 | 3.92% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $2,547 | 3.99% |
| FORT COLLINS, CO (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $2,797 | 4.06% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $7,014 | 3.81% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $3,501 | 3.63% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $3,203 | 4.19% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $4,785 | 4.13% |
| MONROE, MI (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $3,278 | 4.00% |
| Marquette, MI (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $2,574 | 3.81% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $2,727 | 4.25% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,541 | 3.75% |
| Coldwater, MI (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $2,904 | 3.63% |
| Stevens Point, WI (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $5,904 | 4.13% |
| GREEN BAY, WI (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,464 | 4.38% |
| Ottawa, IL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,396 | 3.88% |
| CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $1,929 | 4.63% |
| ROCKFORD, IL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,113 | 4.50% |
| PEORIA, IL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $2,454 | 4.49% |
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 | 755 | $234,025,000 | $309,967 | $3,628 | 4.03% |
| FHA | 38 | $9,360,000 | $246,316 | $6,826 | 4.03% |
| VA | 7 | $2,125,000 | $303,571 | $4,616 | 3.84% |
For 2019, United Home Loans's most frequently originated type of loan was Conventional, with 755 originations. Their 2nd most popular type was FHA, with 38 originations.
Loan Reason
For 2019, United Home Loans's most frequently cited loan purpose was Home Purchase, with 441 originations. The 2nd most popular reason was Refi, with 299 originations.
Loan Duration/Length
For 2019, United Home Loans's most frequently cited loan duration was 30 Year, with 686 originations. The 2nd most popular length was 15 Year, with 76 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 787 | $241,595,000 | $306,982 |
| $<1k | 4 | $820,000 | $205,000 |
| $2k-3k | 1 | $185,000 | $185,000 |
| $5k+ | 1 | $635,000 | $635,000 |
United Home Loans's average total fees were $3,920, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 787 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 477 | $151,115,000 | $316,803 |
| 4-5% | 307 | $90,635,000 | $295,228 |
| 5-6% | 14 | $3,120,000 | $222,857 |
| 2.5-3% | 2 | $640,000 | $320,000 |
During 2019, United Home Loans's average interest rate for loans was 4.09%, while their most frequently originated rate bucket for loans was 3-4%, with 477 originations.
Loan Sizing
2019 saw United Home Loans place emphasis on $200k-400k loans with 480 originations, totaling $142,470,000 in origination value.
Applicant Income
United Home Loans lent most frequently to those with incomes in the $100k-150k range, with 242 originations. The second most popular income band? $150k-250k, with 193 originations.
Applicant Debt to Income Ratio
United Home Loans lent most frequently to those with DTI ratios of 20-30%, with 217 originations. The next most common DTI ratio? 30-36%, with 170 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.23%
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 origination81.75%
United Home Loans has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 800 | $245,510,000 | $306,888 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 800 | $245,510,000 | $306,888 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| United Built Homes LLC | Conventional home mortgage | Struggling to pay mortgage | 1 | 33.3% |
| United Built Homes LLC | Conventional home mortgage | Trouble during payment process | 1 | 33.3% |
| United Built Homes LLC | Other type of mortgage | Struggling to pay mortgage | 1 | 33.3% |