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 6.55% 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.