Union City Mortgage Rates & Closing Costs

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

    30 Year Fixed Rate mortgages in Union City averaged 6.55% for the week of 2023-05-25, compared to the national average of 6.57% for the same period.

    The average rate for the prior week (2023-05-18) was 6.47% and one month ago for the week of 2023-04-20, the average rate was 6.67%.

    Union City's average rate one year ago was 5.33%.

    For refis of the same type during the week of 2023-05-25, the average rate was 6.97%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2023-05-25 6.57%
    Union City 30 Year Fixed Rate 2023-05-25 6.55%
    Union City 30 Year Fixed Rate Refi 2023-05-25 6.97%
    Union City 15 Year Fixed Rate 2023-05-25 5.87%
    Union City 15 Year Fixed Rate Refi 2023-05-25 6.17%
    Union City 30 Year FHA 2023-05-25 6.71%
    Union City 30 Year FHA Refi 2023-05-25 6.41%
    Union City 30 Year USDA 2023-05-25 6.63%
    Union City 30 Year USDA Refi 2023-05-25 6.63%
    Union City 30 Year VA 2023-05-25 6.31%
    Union City 30 Year VA Refi 2023-05-25 6.21%
    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Simmons Bank 15 5.18% $3,158
    Leaders Credit Union 14 5.60% $3,290
    QUICKEN LOANS, LLC 9 5.27% $4,700
    Regions Bank 8 5.59% $3,626
    First Citizens National Bank 6 5.40% $2,596
    U. T. 3 5.46% $3,958
    Citizens Bank 3 3.79% $3,246
    U.S. Bank 3 4.46% $2,769
    Wells Fargo Bank 2 4.38% $1,149
    PENNYMAC LOAN SERVICES, LLC 2 5.00% $8,428
    MORTGAGE INVESTORS GROUP, INC. 2 5.69% $3,189
    ROYAL UNITED MORTGAGE LLC 2 5.81% $6,343
    FIRST COMMUNITY MORTGAGE, INC. 2 5.81% $5,578
    GENEVA FINANCIAL, LLC 1 5.88% $6,789
    HOME POINT FINANCIAL CORPORATION 1 3.38% $9,713
    AMERISAVE MORTGAGE CORPORATION 1 7.25% $5,193
    LAND HOME FINANCIAL SERVICES, INC. 1 7.63% $3,606
    LOANDEPOT.COM, LLC 1 3.88% $3,421
    MOVEMENT MORTGAGE, LLC 1 3.38% $0
    Patriot Bank 1 5.13% $3,401
    PLANET HOME LENDING, LLC 1 5.75% $1,634
    RAPID MORTGAGE COMPANY 1 6.50% $7,515
    Royal Credit Union 1 3.49% $7,489
    UNITED WHOLESALE MORTGAGE, LLC 1 3.63% $7,004
    JPMorgan Chase Bank 1 3.99% $7,874
    ARC HOME LLC 1 6.75% $8,285
    Axos Bank 1 3.63% $7,061
    Bank of England 1 7.13% $2,921
    Barrington Bank & Trust Company, N.A. 1 6.75% $4,849
    Bell Bank 1 5.25% $3,328
    CORNERSTONE HOME LENDING, INC. 1 6.88% $3,644
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 3.49% $1,597
    First Financial Bank 1 6.50% $3,228
    First Guaranty Mortgage Corporation 1 3.88% $3,339
    First Horizon Bank 1 6.50% $7,671
    Flagstar Bank, FSB 1 3.76% $2,870
    FREEDOM MORTGAGE CORPORATION 1 5.00% $3,476

    Union City Average Closing Costs & Other Stats

    Union City, TN's 37 lenders originated 536 loans during 2022. The total origination value was $66,760,000, with an average loan value of $124,552.

    Union City's average closing costs are $4,003.

    The top Union City lender as defined by loan originations is Simmons Bank, with 15 loans originated. Their average total fees are $3,158, which is $132 lower than the next largest lender, Leaders Credit Union.

    The lowest fee Union City lenders (with over 10 loans originated) are Simmons Bank ($3,158), Leaders Credit Union ($3,290), .

    The lowest rate Union City lenders (with over 10 loans originated) are Simmons Bank (5.18%), Leaders Credit Union (5.60%), .

    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 2021 Loan Value 2022 Loan Value % Change 2022 Market Share
    Leaders Credit Union $6,880,000 $7,845,000 14.0% 11.8%
    Simmons Bank $8,375,000 $7,495,000 -10.5% 11.2%
    Commercial Bank & Trust Co. $10,460,000 $7,290,000 -30.3% 10.9%
    Regions Bank $6,420,000 $5,835,000 -9.1% 8.7%
    First Citizens National Bank $11,270,000 $4,925,000 -56.3% 7.4%
    QUICKEN LOANS, LLC $9,740,000 $3,790,000 -61.1% 5.7%
    Mortgage Research Center, LLC $3,410,000 $2,040,000 -40.2% 3.1%
    FIRST COMMUNITY MORTGAGE, INC. $2,245,000 $1,870,000 -16.7% 2.8%
    LOANDEPOT.COM, LLC $1,265,000 $1,580,000 24.9% 2.4%
    First Financial Bank $680,000 $1,520,000 123.5% 2.3%
    UNITED WHOLESALE MORTGAGE, LLC $205,000 $1,005,000 390.2% 1.5%
    FREEDOM MORTGAGE CORPORATION $1,555,000 $915,000 -41.2% 1.4%
    21ST MORTGAGE CORPORATION $590,000 $910,000 54.2% 1.4%
    U. T. $1,360,000 $780,000 -42.6% 1.2%
    First Guaranty Mortgage Corporation $405,000 $700,000 72.8% 1.0%
    Mr. Cooper ( Nationstar Mortgage ) $940,000 $655,000 -30.3% 1.0%
    MORTGAGE INVESTORS GROUP, INC. $840,000 $640,000 -23.8% 1.0%
    BROKER SOLUTIONS, INC. $645,000 $635,000 -1.6% 1.0%
    Centennial Bank $85,000 $625,000 635.3% 0.9%
    Wells Fargo Bank $765,000 $605,000 -20.9% 0.9%
    LEADERONE FINANCIAL CORPORATION $565,000 n/a 0.8%
    PENNYMAC LOAN SERVICES, LLC $395,000 $550,000 39.2% 0.8%
    U.S. Bank $410,000 $550,000 34.1% 0.8%
    HOME POINT FINANCIAL CORPORATION $300,000 $540,000 80.0% 0.8%
    Citizens Bank $625,000 $525,000 -16.0% 0.8%
    Paramount Residential Mortgage Group, Inc. $295,000 $515,000 74.6% 0.8%
    PLANET HOME LENDING, LLC $410,000 n/a 0.6%
    Flagstar Bank, FSB $395,000 n/a 0.6%
    Royal Credit Union $375,000 n/a 0.6%
    AMERISAVE MORTGAGE CORPORATION $765,000 $365,000 -52.3% 0.5%
    NEW DAY FINANCIAL, LLC $345,000 $350,000 1.4% 0.5%
    ROYAL UNITED MORTGAGE LLC $345,000 n/a 0.5%
    JPMorgan Chase Bank $240,000 $340,000 41.7% 0.5%
    Axos Bank $335,000 n/a 0.5%
    Farm Credit Mid-America, ACA $565,000 $315,000 -44.2% 0.5%
    GENEVA FINANCIAL, LLC $235,000 $315,000 34.0% 0.5%
    NAVY FEDERAL CREDIT UNION $205,000 $315,000 53.7% 0.5%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $310,000 n/a 0.5%
    AMERICAN FINANCING CORPORATION $135,000 $270,000 100.0% 0.4%
    ARC HOME LLC $265,000 n/a 0.4%
    Barrington Bank & Trust Company, N.A. $240,000 n/a 0.4%
    The Federal Savings Bank $235,000 n/a 0.4%
    Carrington Mortgage Services, LLC $220,000 $215,000 -2.3% 0.3%
    First Horizon Bank $145,000 $185,000 27.6% 0.3%
    CMG MORTGAGE, INC. $175,000 n/a 0.3%
    GUILD MORTGAGE COMPANY $175,000 n/a 0.3%
    LAKEVIEW LOAN SERVICING, LLC $500,000 $175,000 -65.0% 0.3%
    Legends Bank $955,000 $175,000 -81.7% 0.3%
    Patriot Bank $175,000 n/a 0.3%
    EVERETT FINANCIAL, INC. $155,000 n/a 0.2%
    Fifth Third Bank $155,000 n/a 0.2%
    RAPID MORTGAGE COMPANY $155,000 n/a 0.2%
    Bell Bank $145,000 n/a 0.2%
    CRESCENT MORTGAGE COMPANY $215,000 $135,000 -37.2% 0.2%
    Hometown Lenders, Inc. $130,000 n/a 0.2%
    CALIBER HOME LOANS, INC. $305,000 $125,000 -59.0% 0.2%
    CORNERSTONE HOME LENDING, INC. $125,000 n/a 0.2%
    Independence Bank of Kentucky $125,000 n/a 0.2%
    Nations Lending Corporation $105,000 n/a 0.2%
    VANDERBILT MORTGAGE AND FINANCE, INC. $480,000 $105,000 -78.1% 0.2%
    Bank of England $370,000 $95,000 -74.3% 0.1%
    First Federal Bank $220,000 $95,000 -56.8% 0.1%
    MOVEMENT MORTGAGE, LLC $95,000 n/a 0.1%
    SOUTHWEST FUNDING, LP $125,000 $95,000 -24.0% 0.1%
    USAA Federal Savings Bank $75,000 $85,000 13.3% 0.1%
    NBKC BANK $75,000 n/a 0.1%
    Apex Bank $65,000 n/a 0.1%
    Discover Bank $55,000 n/a 0.1%
    LAND HOME FINANCIAL SERVICES, INC. $55,000 n/a 0.1%
    Carroll Bank and Trust $50,000 n/a 0.1%
    ORNL Federal Credit Union $45,000 n/a 0.1%
    FEDCHOICE Federal Credit Union $35,000 n/a 0.1%
    Figure Lending LLC $15,000 n/a 0.0%

    Union City's top lender by overall market share is Leaders Credit Union, with 11.8% market share. In second place, with 11.2%, is Simmons Bank, having originated $7,495,000 in loans. In third place, with 10.9%, is Commercial Bank & Trust Co., having originated $7,290,000 in loans. In fourth place, with 8.7%, is Regions Bank, having originated $5,835,000 in loans. In fifth place, with 7.4%, is First Citizens National Bank, having originated $4,925,000 in loans.

    Union City Housing Market Trends (Median, Average Prices & Listing Count)

    Realtor.com - Union City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $114,900 (7.0%) $140,077 (10.2%) 0.00 133
    2018-02-01 $119,250 (8.5%) $144,420 (11.7%) 0.00 140
    2018-03-01 $117,450 (4.8%) $147,965 (12.4%) 0.00 147
    2018-04-01 $119,900 (4.3%) $155,299 (17.2%) 0.00 150
    2018-05-01 $119,450 (0.6%) $148,546 (11.4%) 0.00 149
    2018-06-01 $119,900 (0.4%) $143,954 (7.7%) 0.00 153
    2018-07-01 $129,600 (8.1%) $151,712 (14.2%) 0.00 156
    2018-08-01 $134,200 (9.6%) $156,051 (15.7%) 0.00 156
    2018-09-01 $120,000 (0.0%) $151,694 (11.1%) 0.00 147
    2018-10-01 $119,900 (3.9%) $141,610 (6.4%) 0.00 143
    2018-11-01 $124,750 (8.6%) $141,972 (6.3%) 0.00 141
    2018-12-01 $129,700 (13.3%) $143,512 (4.7%) 0.00 124
    2019-01-01 $122,450 (6.6%) $137,691 (-1.7%) 0.00 131
    2019-02-01 $119,900 (0.6%) $138,251 (-4.3%) 0.00 120
    2019-03-01 $133,700 (13.8%) $146,983 (-1.0%) 0.00 120
    2019-04-01 $139,450 (16.3%) $154,525 (-1.2%) 0.00 88
    2019-05-01 $131,250 (9.9%) $151,118 (1.7%) 0.00 91
    2019-06-01 $137,000 (14.3%) $154,311 (7.2%) 0.00 91
    2019-07-01 $131,825 (1.7%) $153,921 (1.5%) 0.00 88
    2019-08-01 $133,000 (-0.9%) $149,436 (-0.1%) 0.00 87
    2019-09-01 $133,225 (11.0%) $150,960 (3.6%) 0.00 74
    2019-10-01 $133,900 (11.7%) $157,372 (11.6%) 0.00 71
    2019-11-01 $133,900 (7.3%) $154,666 (8.9%) 0.00 64
    2019-12-01 $132,450 (2.1%) $156,678 (9.2%) 0.00 64
    2020-01-01 $129,900 (6.1%) $156,161 (13.4%) 0.00 67
    2020-02-01 $134,900 (12.5%) $162,850 (17.8%) 0.00 67
    2020-03-01 $132,400 (-1.0%) $172,465 (17.8%) 0.00 69
    2020-04-01 $133,675 (-4.1%) $180,381 (17.6%) 0.00 61
    2020-05-01 $144,900 (10.4%) $193,291 (27.9%) 0.00 52
    2020-06-01 $149,500 (9.1%) $189,783 (23.0%) 0.00 53
    2020-07-01 $149,700 (13.6%) $187,670 (21.9%) 0.00 45
    2020-08-01 $149,500 (12.4%) $179,827 (15.3%) 0.00 39
    2020-09-01 $146,050 (9.6%) $184,529 (17.4%) 0.00 42
    2020-10-01 $147,200 (9.9%) $187,710 (18.8%) 0.00 41
    2020-11-01 $150,000 (12.0%) $227,690 (47.2%) 0.00 37
    2020-12-01 $129,900 (-1.9%) $207,210 (32.3%) 0.00 35
    2021-01-01 $149,750 (15.3%) $224,545 (43.8%) 0.00 35
    2021-02-01 $149,625 (10.9%) $231,845 (42.4%) 0.00 32
    2021-03-01 $157,875 (19.2%) $241,690 (40.1%) 0.00 26
    2021-04-01 $192,350 (43.9%) $239,775 (32.9%) 0.00 29
    2021-05-01 $182,500 (26.0%) $239,604 (24.0%) 0.00 23
    2021-06-01 $188,100 (25.8%) $232,929 (22.7%) 0.00 27
    2021-07-01 $169,000 (12.9%) $224,741 (19.8%) 0.00 30
    2021-08-01 $172,225 (15.2%) $229,420 (27.6%) 0.00 33
    2021-09-01 $145,250 (-0.6%) $194,677 (5.5%) 0.00 37
    2021-10-01 $159,950 (8.7%) $217,995 (16.1%) 0.00 34
    2021-11-01 $156,000 (4.0%) $204,033 (-10.4%) 0.00 35
    2021-12-01 $157,225 (21.0%) $198,037 (-4.4%) 0.00 33
    2022-01-01 $144,900 (-3.2%) $171,363 (-23.7%) 0.00 27
    2022-02-01 $142,450 (-4.8%) $154,421 (-33.4%) 0.00 23
    2022-03-01 $144,975 (-8.2%) $196,055 (-18.9%) 0.00 25
    2022-04-01 $145,000 (-24.6%) $208,477 (-13.1%) 0.00 20
    2022-05-01 $138,625 (-24.0%) $189,575 (-20.9%) 0.00 20
    2022-06-01 $140,575 (-25.3%) $181,117 (-22.2%) 0.00 23
    2022-07-01 $149,900 (-11.3%) $167,162 (-25.6%) 0.00 33
    2022-08-01 $169,750 (-1.4%) $207,699 (-9.5%) 0.00 39
    2022-09-01 $159,475 (9.8%) $220,403 (13.2%) 0.00 44
    2022-10-01 $159,500 (-0.3%) $206,776 (-5.2%) 0.00 50
    2022-11-01 $154,700 (-0.8%) $200,768 (-1.6%) 0.00 53
    2022-12-01 $159,900 (1.7%) $201,811 (1.9%) 0.00 55
    2023-01-01 $160,000 (10.4%) $218,483 (27.5%) 0.00 56
    2023-02-01 $165,000 (15.8%) $220,762 (43.0%) 0.00 57
    2023-03-01 $182,300 (25.8%) $216,026 (10.2%) 0.00 50
    2023-04-01 $187,000 (29.0%) $227,838 (0.0%) 0.00 42
    Union City's median listing price for 2023-04-01 was $187,000, a difference of $42,000 (29.0%) versus the prior year and $4,700 versus the prior month.

    Union City's median listing price comes in at 0% of the national average.

    Union City's average listing price for 2023-04-01 was $227,838, a difference of $19,361 (0.0%) versus the prior year and $11,812 versus the prior month.

    For the 2023-04-01 period, Union City had 42 MLS listings, a difference of -8 listings (-16%) versus the prior month and 22 listings (110%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Union City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,729 sqft
    2018-02-01 0 days 1,731 sqft
    2018-03-01 0 days 1,796 sqft
    2018-04-01 0 days 1,862 sqft
    2018-05-01 0 days 1,834 sqft
    2018-06-01 0 days 1,792 sqft
    2018-07-01 0 days 1,809 sqft
    2018-08-01 0 days 1,823 sqft
    2018-09-01 0 days 1,800 sqft
    2018-10-01 0 days 1,713 sqft
    2018-11-01 0 days 1,684 sqft
    2018-12-01 0 days 1,590 sqft
    2019-01-01 0 days 1,591 sqft
    2019-02-01 0 days 1,616 sqft
    2019-03-01 0 days 1,713 sqft
    2019-04-01 0 days 1,718 sqft
    2019-05-01 0 days 1,652 sqft
    2019-06-01 0 days 1,728 sqft
    2019-07-01 0 days 1,718 sqft
    2019-08-01 0 days 1,702 sqft
    2019-09-01 0 days 1,697 sqft
    2019-10-01 0 days 1,710 sqft
    2019-11-01 0 days 1,701 sqft
    2019-12-01 0 days 1,719 sqft
    2020-01-01 0 days 1,726 sqft
    2020-02-01 0 days 1,747 sqft
    2020-03-01 0 days 1,745 sqft
    2020-04-01 0 days 1,745 sqft
    2020-05-01 0 days 1,832 sqft
    2020-06-01 0 days 1,841 sqft
    2020-07-01 0 days 1,769 sqft
    2020-08-01 0 days 1,680 sqft
    2020-09-01 0 days 1,776 sqft
    2020-10-01 0 days 1,855 sqft
    2020-11-01 0 days 1,914 sqft
    2020-12-01 0 days 1,680 sqft
    2021-01-01 0 days 1,804 sqft
    2021-02-01 0 days 1,804 sqft
    2021-03-01 0 days 1,758 sqft
    2021-04-01 0 days 1,857 sqft
    2021-05-01 0 days 1,974 sqft
    2021-06-01 0 days 1,898 sqft
    2021-07-01 0 days 1,644 sqft
    2021-08-01 0 days 1,607 sqft
    2021-09-01 0 days 1,561 sqft
    2021-10-01 0 days 1,624 sqft
    2021-11-01 0 days 1,687 sqft
    2021-12-01 0 days 1,696 sqft
    2022-01-01 0 days 1,586 sqft
    2022-02-01 0 days 1,480 sqft
    2022-03-01 0 days 1,531 sqft
    2022-04-01 0 days 1,565 sqft
    2022-05-01 0 days 1,427 sqft
    2022-06-01 0 days 1,447 sqft
    2022-07-01 0 days 1,337 sqft
    2022-08-01 0 days 1,589 sqft
    2022-09-01 0 days 1,548 sqft
    2022-10-01 0 days 1,572 sqft
    2022-11-01 0 days 1,563 sqft
    2022-12-01 0 days 1,563 sqft
    2023-01-01 0 days 1,535 sqft
    2023-02-01 0 days 1,476 sqft
    2023-03-01 0 days 1,509 sqft
    2023-04-01 0 days 1,549 sqft
    Union City's median listing age (time on market) for 2023-04-01 was 0 days.

    Union City's median square footage for active listings during the 2023-04-01 period was 1,549 sqft. One year prior, the average listing was 1,565 sqft.

    Union City, TN Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 268 $39,370,000 $146,903
    Refi 102 $10,830,000 $106,176
    Cash Out Refi 76 $11,170,000 $146,974
    Home Improvement 57 $2,865,000 $50,263
    Other 33 $2,525,000 $76,515

    Union City's most frequently cited loan purpose was Home Purchase, with 268 originations. The 2nd most popular reason was Refi, with 102 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    3-4% 112 $13,690,000 $122,232
    5-6% 109 $15,115,000 $138,670
    4-5% 94 $12,930,000 $137,553
    6-7% 46 $6,480,000 $140,870
    7-8% 22 $2,100,000 $95,455
    2.5-3% 21 $3,225,000 $153,571
    Over 8% 14 $1,060,000 $75,714
    <2.5% 10 $1,050,000 $105,000

    During 2022, Union City's most frequently originated rate bucket was 3-4%, with 112 originations.

    Loan Sizing (Union City, TN MSA)

    Loan Size Originations Total Value Average Loan
    $100,000 or less 247 $13,775,000 $55,769
    $100k-200k 210 $29,620,000 $141,048
    $200k-400k 71 $19,155,000 $269,789
    $400k-600k 6 $2,910,000 $485,000
    $600k-1000k 2 $1,300,000 $650,000

    Union City's loan sizing saw the bucket of loans from $100,000 or less with 247 originations, totaling $13,775,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 182 $29,160,000 $160,220
    60-80% 108 $16,370,000 $151,574
    40-60% 49 $5,145,000 $105,000
    20-40% 44 $2,580,000 $58,636
    Under 20% 38 $1,160,000 $30,526
    Over 100% 7 $1,235,000 $176,429

    Union City's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 182 originations, totaling $29,160,000 in origination value.