Union County Savings Bank Mortgage Rates, Fees & Info

Elizabeth, NJ

LEI: 549300V7VRSW36FYYJ37

Tax ID: 22-1343420

Latest/2023 | 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
  • Similar Lenders
  • 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

    Union County Savings Bank is a smaller bank specializing in Home Purchase and Refi loans. Union County Savings Bank has a high proportion of conventional loans. Their top (well, only) market is New York.

    Union County Savings Bank 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. Union County Savings Bank 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    44

    Origination Dollar Volume (All Markets)

    $12,250,000

    Awards

    Union County Savings Bank 30 Year Conventional Loans silver Union County Savings Bank 30 Year Conventional Loans gold Union County Savings Bank 30 Year Conventional Loans gold
    Show all (3) awards

    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) 44 $12,250,000 $278,409 $4,315 4.03%
    Union County Savings Bank's top markets include and New York among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Union County Savings Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    N C P D Federal Credit Union
    Similarity Rank: 55
    Bogota Savings Bank
    Similarity Rank: 63
    Union County Savings Bank
    Similarity Rank: 66
    GARDEN SAVINGS FEDERAL CREDIT UNION
    Similarity Rank: 80
    Freehold Savings Bank
    Similarity Rank: 120
    The Atlantic Federal Credit Union
    Similarity Rank: 120
    Blue Foundry Bank
    Similarity Rank: 125
    Investors Home Mortgage-IHM
    Similarity Rank: 156
    GREATER ALLIANCE
    Similarity Rank: 231
    Nassau Educators Federal Credit Union
    Similarity Rank: 248

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 44 $12,250,000 $278,409 $4,315 4.03%

    For 2018, Union County Savings Bank's most frequently originated type of loan was Conventional, with 44 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 30 $8,340,000 $278,000 $4,766 3.98%
    Refi 13 $3,635,000 $279,615 $3,271 4.15%
    Home Improvement 1 $275,000 $275,000 $2,871 3.75%

    For 2018, Union County Savings Bank's most frequently cited loan purpose was Home Purchase, with 30 originations. The 2nd most popular reason was Refi, with 13 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 35 $10,075,000 $287,857 $4,364 3.94%
    15 Year 4 $890,000 $222,500 $3,307 4.13%
    20 Year 2 $530,000 $265,000 $0 4.50%
    Other 2 $570,000 $285,000 $4,797 4.38%
    10 Year 1 $185,000 $185,000 $0 5.00%

    For 2018, Union County Savings Bank's most frequently cited loan duration was 30 Year, with 35 originations. The 2nd most popular length was 15 Year, with 4 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 34 $10,140,000 $298,235

    Union County Savings Bank's average total fees were $4,364, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 34 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 33 $9,345,000 $283,182
    4-5% 11 $2,905,000 $264,091

    During 2018, Union County Savings Bank's average interest rate for loans was 3.94%, while their most frequently originated rate bucket for loans was 3-4%, with 33 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 28 $8,210,000 $293,214 $4,280 3.97%
    $100k-200k 8 $1,170,000 $146,250 $4,572 4.13%
    $400k-600k 5 $2,105,000 $421,000 $3,640 4.20%
    $100,000 or less 2 $150,000 $75,000 $0 4.00%
    $600k-1MM 1 $615,000 $615,000 $6,563 4.00%

    2018 saw Union County Savings Bank place emphasis on $200k-400k loans with 28 originations, totaling $8,210,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 12 $3,450,000 $287,500 $4,419 3.90%
    $150k-250k 10 $3,270,000 $327,000 $3,591 4.05%
    $75k-100k 6 $1,360,000 $226,667 $4,629 3.83%
    $250k+ 5 $1,575,000 $315,000 $4,286 4.10%
    $50k-75k 4 $990,000 $247,500 $4,657 3.88%
    $50k or less 1 $145,000 $145,000 $5,804 3.75%

    Union County Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 12 originations. The second most popular income band? $150k-250k, with 10 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 12 $3,310,000 $275,833 $4,404 3.83%
    30-36% 6 $2,180,000 $363,333 $4,162 3.92%
    <20% 4 $1,260,000 $315,000 $3,382 4.00%
    45% 2 $580,000 $290,000 $4,634 4.00%
    46% 2 $680,000 $340,000 $3,627 4.13%
    50-60% 2 $530,000 $265,000 $4,208 3.88%
    37% 1 $255,000 $255,000 $4,991 3.75%
    >60% 1 $355,000 $355,000 $6,178 4.00%
    47% 1 $275,000 $275,000 $4,856 3.75%
    48% 1 $265,000 $265,000 $4,843 3.75%
    39% 1 $305,000 $305,000 $3,743 4.00%
    43% 1 $145,000 $145,000 $5,804 3.75%

    Union County Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 12 originations. The next most common DTI ratio? 30-36%, with 6 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 35 $9,935,000 $283,857 $4,369 3.93%
    Not applicable 6 $1,460,000 $243,333 $0 4.54%
    Asian 2 $450,000 $225,000 $3,943 4.25%
    Black 1 $405,000 $405,000 $2,930 4.00%

    Approval Rates

    Total approvals of all applications
    96.49%

    Union County Savings Bank 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
    88.64%

    Union County Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 44 $12,250,000 $278,409

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $600,000 $300,000
    Single Family (1-4 Units):Site-Built 42 $11,650,000 $277,381

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 3 $345,000 $115,000 $4,476 4.42%
    40-60% 8 $2,080,000 $260,000 $3,959 3.91%
    60-80% 30 $8,980,000 $299,333 $4,323 4.04%
    80-100% 3 $845,000 $281,667 $5,027 3.83%