Union City Mortgage Rates & Closing Costs

30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

30 Year Fixed Rate mortgages in Union City averaged 6.42% for the week of 2024-10-10, compared to the national average of 6.32% for the same period.

The average rate for the prior week (2024-10-03) was 6.32% and one month ago for the week of 2024-09-05, the average rate was 6.25%.

Union City's average rate one year ago was 7.39%.

For refis of the same type during the week of 2024-10-10, the average rate was 6.22%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-10-10 6.32%
Union City 30 Year Fixed Rate 2024-10-10 6.42%
Union City 30 Year Fixed Rate Refi 2024-10-10 6.22%
Union City 15 Year Fixed Rate 2024-10-10 5.21%
Union City 15 Year Fixed Rate Refi 2024-10-10 5.81%
Union City 30 Year FHA 2024-10-10 6%
Union City 30 Year FHA Refi 2024-10-10 5.9%
Union City 30 Year USDA 2024-10-10 6.28%
Union City 30 Year USDA Refi 2024-10-10 6.28%
Union City 30 Year VA 2024-10-10 6.05%
Union City 30 Year VA Refi 2024-10-10 5.95%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Union City, TN.

Union City Top Lenders by Rates & Fees

The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the Union City, TN market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Leaders Credit Union 15 6.84% $2,389
First Citizens National Bank 10 6.93% $2,788
QUICKEN LOANS, LLC 8 6.98% $5,128
Simmons Bank 8 7.42% $2,725
Regions Bank 5 6.75% $3,447
FIRST COMMUNITY MORTGAGE, INC. 3 7.08% $4,347
CHURCHILL MORTGAGE CORPORATION 2 6.31% $5,076
Mr. Cooper ( Nationstar Mortgage ) 2 7.25% $5,721
FREEDOM MORTGAGE CORPORATION 1 7.13% $4,151
Independent Bank 1 5.88% $14,714
PREMIER MORTGAGE RESOURCES, L.L.C. 1 7.13% $6,165
ROYAL UNITED MORTGAGE LLC 1 7.50% $8,115
RUOFF MORTGAGE COMPANY, INC. 1 6.00% $600
UNITED WHOLESALE MORTGAGE, LLC 1 6.98% $4,559
U.S. Bank 1 6.63% $3,710
AMERICAN FINANCING CORPORATION 1 7.13% $9,830
U. T. 1 6.38% $6,534
American Mortgage & Equity Consultants, Inc. 1 7.50% $6,078
Bank of Tennessee 1 7.88% $4,691
BROKER SOLUTIONS, INC. 1 7.63% $5,500
CARDINAL FINANCIAL 1 5.99% $4,267
COMPASS MORTGAGE, INC. 1 6.88% $3,600
Farm Credit Mid-America, ACA 1 6.38% $8,759
First Financial Bank 1 6.00% $3,230

Union City Average Closing Costs & Other Stats

Union City, TN's 24 lenders originated 496 loans during 2023. The total origination value was $61,990,000, with an average loan value of $124,980.

Union City's average closing costs are $4,235.

The top Union City lender as defined by loan originations is Leaders Credit Union, with 15 loans originated. Their average total fees are $2,389, which is $399 lower than the next largest lender, First Citizens National Bank.

The lowest fee Union City lenders (with over 10 loans originated) are Leaders Credit Union ($2,389), First Citizens National Bank ($2,788), .

The lowest rate Union City lenders (with over 10 loans originated) are Leaders Credit Union (6.84%), First Citizens National Bank (6.93%), .

Union City, TN Mortgage Market Share & Volume

Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.

Name 2022 Loan Value 2023 Loan Value % Change 2023 Market Share
Commercial Bank & Trust Co. $7,290,000 $9,180,000 25.9% 14.8%
First Citizens National Bank $4,925,000 $5,880,000 19.4% 9.5%
Leaders Credit Union $7,845,000 $5,755,000 -26.6% 9.3%
QUICKEN LOANS, LLC $3,790,000 $4,635,000 22.3% 7.5%
Regions Bank $5,835,000 $3,455,000 -40.8% 5.6%
Simmons Bank $7,495,000 $3,295,000 -56.0% 5.3%
ORIX REAL ESTATE CAPITAL, LLC $2,845,000 n/a 4.6%
FIRST COMMUNITY MORTGAGE, INC. $1,870,000 $2,015,000 7.8% 3.3%
Mortgage Research Center, LLC $2,040,000 $1,885,000 -7.6% 3.0%
Farm Credit Mid-America, ACA $315,000 $990,000 214.3% 1.6%
VANDERBILT MORTGAGE AND FINANCE, INC. $105,000 $910,000 766.7% 1.5%
First Financial Bank $1,520,000 $890,000 -41.4% 1.4%
MORTGAGE INVESTORS GROUP, INC. $640,000 $880,000 37.5% 1.4%
UNITED WHOLESALE MORTGAGE, LLC $1,005,000 $735,000 -26.9% 1.2%
BancorpSouth $700,000 n/a 1.1%
U. T. $780,000 $695,000 -10.9% 1.1%
FREEDOM MORTGAGE CORPORATION $915,000 $655,000 -28.4% 1.1%
Centennial Bank $625,000 $650,000 4.0% 1.0%
MILEND, INC. $615,000 n/a 1.0%
Independent Bank $595,000 n/a 1.0%
Mr. Cooper ( Nationstar Mortgage ) $655,000 $585,000 -10.7% 0.9%
21ST MORTGAGE CORPORATION $910,000 $470,000 -48.4% 0.8%
CHURCHILL MORTGAGE CORPORATION $400,000 n/a 0.6%
AMERISAVE MORTGAGE CORPORATION $365,000 $360,000 -1.4% 0.6%
Prosperity Home Mortgage, LLC $355,000 n/a 0.6%
Equity Prime Mortgage LLC $330,000 n/a 0.5%
AMERICAN FINANCING CORPORATION $270,000 $300,000 11.1% 0.5%
INTERLINC MORTGAGE SERVICES, LLC $275,000 n/a 0.4%
PENNYMAC LOAN SERVICES, LLC $550,000 $270,000 -50.9% 0.4%
CARDINAL FINANCIAL $260,000 n/a 0.4%
NEW DAY FINANCIAL, LLC $350,000 $260,000 -25.7% 0.4%
UNION HOME MORTGAGE CORP. $260,000 n/a 0.4%
U.S. Bank $550,000 $245,000 -55.5% 0.4%
HOMEOWNERS FINANCIAL GROUP USA, LLC $225,000 n/a 0.4%
American Mortgage & Equity Consultants, Inc. $205,000 n/a 0.3%
Carrington Mortgage Services, LLC $215,000 $205,000 -4.7% 0.3%
MORTGAGEONE, INC. $205,000 n/a 0.3%
RELIANCE FIRST CAPITAL, LLC $200,000 n/a 0.3%
AMERICAN FINANCIAL NETWORK, INC. $195,000 n/a 0.3%
SeaTrust Mortgage Company $185,000 n/a 0.3%
CROSSCOUNTRY MORTGAGE, LLC $180,000 n/a 0.3%
LOANDEPOT.COM, LLC $1,580,000 $180,000 -88.6% 0.3%
HOMEBRIDGE FINANCIAL SERVICES, INC. $175,000 n/a 0.3%
USAA Federal Savings Bank $85,000 $175,000 105.9% 0.3%
McKenzie Banking Company $170,000 n/a 0.3%
Bank of Tennessee $165,000 n/a 0.3%
Carroll Bank and Trust $50,000 $165,000 230.0% 0.3%
Brighton Bank $155,000 n/a 0.3%
Northpointe Bank $155,000 n/a 0.3%
MID AMERICA MORTGAGE, INC. $145,000 n/a 0.2%
Mid-Continent Funding, Inc. $145,000 n/a 0.2%
POLARIS HOME FUNDING CORP. $145,000 n/a 0.2%
PREMIER MORTGAGE RESOURCES, L.L.C. $145,000 n/a 0.2%
ROYAL UNITED MORTGAGE LLC $345,000 $145,000 -58.0% 0.2%
RUOFF MORTGAGE COMPANY, INC. $135,000 n/a 0.2%
Discover Bank $55,000 $130,000 136.4% 0.2%
CMG MORTGAGE, INC. $175,000 $125,000 -28.6% 0.2%
Independence Bank of Kentucky $125,000 $125,000 0.0% 0.2%
Waterstone Mortgage Corporation $115,000 n/a 0.2%
LEADERONE FINANCIAL CORPORATION $565,000 $110,000 -80.5% 0.2%
ATLANTIC BAY MORTGAGE GROUP, L.L.C. $105,000 n/a 0.2%
COMPASS MORTGAGE, INC. $105,000 n/a 0.2%
SOUTHWEST STAGE FUNDING, LLC $105,000 n/a 0.2%
Wells Fargo Bank $605,000 $95,000 -84.3% 0.2%
BROKER SOLUTIONS, INC. $635,000 $85,000 -86.6% 0.1%
CRESCENT MORTGAGE COMPANY $135,000 $85,000 -37.0% 0.1%
NEWREZ LLC $85,000 n/a 0.1%
JPMorgan Chase Bank $340,000 $75,000 -77.9% 0.1%
NAVY FEDERAL CREDIT UNION $315,000 $55,000 -82.5% 0.1%
FNB Bank, Inc. $50,000 n/a 0.1%
Coastal Community Bank $30,000 n/a 0.0%
Figure Lending LLC $15,000 $25,000 66.7% 0.0%
FirstBank $25,000 n/a 0.0%
INSOUTH Bank $25,000 n/a 0.0%

Union City's top lender by overall market share is Commercial Bank & Trust Co., with 14.8% market share. In second place, with 9.5%, is First Citizens National Bank, having originated $5,880,000 in loans. In third place, with 9.3%, is Leaders Credit Union, having originated $5,755,000 in loans. In fourth place, with 7.5%, is QUICKEN LOANS, LLC, having originated $4,635,000 in loans. In fifth place, with 5.6%, is Regions Bank, having originated $3,455,000 in loans.

Union City, TN Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 239 $39,405,000 $164,874
Refi 84 $8,890,000 $105,833
Home Improvement 62 $3,700,000 $59,677
Other 59 $2,985,000 $50,593
Cash Out Refi 52 $7,010,000 $134,808

Union City's most frequently cited loan purpose was Home Purchase, with 239 originations. The 2nd most popular reason was Refi, with 84 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 123 $17,885,000 $145,407
Over 8% 86 $6,100,000 $70,930
7-8% 83 $9,805,000 $118,133
5-6% 54 $9,650,000 $178,704
<2.5% 9 $2,885,000 $320,556
4-5% 1 $115,000 $115,000
2.5-3% 1 $205,000 $205,000

During 2023, Union City's most frequently originated rate bucket was 6-7%, with 123 originations.

Loan Sizing (Union City, TN MSA)

Loan Size Originations Total Value Average Loan
$100,000 or less 249 $13,485,000 $54,157
$100k-200k 173 $24,295,000 $140,434
$200k-400k 63 $15,535,000 $246,587
$400k-600k 7 $3,455,000 $493,571
$600k-1000k 2 $1,270,000 $635,000
$Over $1MM 2 $3,950,000 $1,975,000

Union City's loan sizing saw the bucket of loans from $100,000 or less with 249 originations, totaling $13,485,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 150 $23,660,000 $157,733
60-80% 66 $10,020,000 $151,818
20-40% 55 $3,615,000 $65,727
Under 20% 44 $1,180,000 $26,818
40-60% 35 $3,885,000 $111,000
Over 100% 9 $4,295,000 $477,222

Union City's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 150 originations, totaling $23,660,000 in origination value.