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 Cash Out 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 an above 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

    25

    Origination Dollar Volume (All Markets)

    $7,505,000

    Awards

    Union County Savings Bank 30 Year Conventional Loans bronze Union County Savings Bank 30 Year Conventional Loans silver
    Show all (2) 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) 25 $7,505,000 $300,200 $4,431 4.28%
    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: 56
    Schuyler Savings Bank
    Similarity Rank: 104
    Union County Savings Bank
    Similarity Rank: 150
    GARDEN SAVINGS FEDERAL CREDIT UNION
    Similarity Rank: 192
    Blue Foundry Bank
    Similarity Rank: 212
    Bogota Savings Bank
    Similarity Rank: 246
    MOUNTAIN MORTGAGE CORP.
    Similarity Rank: 266
    FUNDING RESOURCES MORTGAGE CORPORATION
    Similarity Rank: 292
    CREDIT UNION OF NEW JERSEY
    Similarity Rank: 360
    Atlantic Stewardship Bank
    Similarity Rank: 372

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 25 $7,505,000 $300,200 $4,431 4.28%

    For 2019, Union County Savings Bank's most frequently originated type of loan was Conventional, with 25 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 17 $4,635,000 $272,647 $4,519 4.29%
    Cash Out Refi 5 $1,605,000 $321,000 $5,001 4.40%
    Home Improvement 2 $860,000 $430,000 $3,463 3.75%
    Refi 1 $405,000 $405,000 $0 4.50%

    For 2019, Union County Savings Bank's most frequently cited loan purpose was Home Purchase, with 17 originations. The 2nd most popular reason was Cash Out Refi, with 5 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 12 $3,530,000 $294,167 $4,777 4.54%
    30 Year 12 $3,600,000 $300,000 $4,368 4.00%
    Other 1 $375,000 $375,000 $0 4.50%

    For 2019, Union County Savings Bank's most frequently cited loan duration was 20 Year, with 12 originations. The 2nd most popular length was 30 Year, with 12 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 13 $4,025,000 $309,615

    Union County Savings Bank's average total fees were $4,368, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 13 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 15 $4,605,000 $307,000
    3-4% 10 $2,900,000 $290,000

    During 2019, Union County Savings Bank's average interest rate for loans was 4.00%, while their most frequently originated rate bucket for loans was 4-5%, with 15 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 14 $4,100,000 $292,857 $4,066 4.21%
    $100k-200k 5 $795,000 $159,000 $4,136 4.50%
    $400k-600k 3 $1,325,000 $441,667 $5,368 4.00%
    $600k-1MM 2 $1,210,000 $605,000 $5,642 4.75%
    $100,000 or less 1 $75,000 $75,000 $4,489 4.00%

    2019 saw Union County Savings Bank place emphasis on $200k-400k loans with 14 originations, totaling $4,100,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 6 $2,780,000 $463,333 $4,478 4.21%
    $100k-150k 5 $1,145,000 $229,000 $4,564 4.00%
    $50k-75k 3 $585,000 $195,000 $4,853 4.25%
    $75k-100k 2 $570,000 $285,000 $2,684 3.75%

    Union County Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 6 originations. The second most popular income band? $100k-150k, with 5 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 4 $1,110,000 $277,500 $4,787 3.94%
    30-36% 3 $945,000 $315,000 $3,752 4.00%
    36% 1 $265,000 $265,000 $4,691 4.25%
    37% 1 $275,000 $275,000 $5,217 4.00%
    43% 1 $285,000 $285,000 $4,602 3.50%
    45% 1 $605,000 $605,000 $5,642 4.50%
    48% 1 $185,000 $185,000 $4,360 4.25%
    >60% 1 $355,000 $355,000 $2,684 3.50%

    Union County Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 4 originations. The next most common DTI ratio? 30-36%, with 3 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 15 $4,795,000 $319,667 $4,417 4.13%
    Not applicable 9 $2,425,000 $269,444 $0 4.61%
    Not provided 1 $285,000 $285,000 $4,602 3.50%

    Approval Rates

    Total approvals of all applications
    96.55%

    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
    92.00%

    Union County Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 25 $7,505,000 $300,200

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 25 $7,505,000 $300,200

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 2 $260,000 $130,000 $4,424 4.13%
    40-60% 6 $2,420,000 $403,333 $4,942 4.58%
    60-80% 14 $3,900,000 $278,571 $4,682 4.29%
    80-100% 3 $925,000 $308,333 $3,591 3.75%