The Union Bank Co Mortgage Interest Rate and Cost Review

Is The Union Bank Co a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by The Union Bank Co to those of other lenders for a comparable set of borrowers. Here is our review of The Union Bank Co nationally:

Review ItemThe Union Bank Co
Interest Ratesimilar to other lenders (-0.02%)
Loan Related Closing Costssimilar to other lenders (-$127)
National Rate and Closing Cost Star Rating(3.5)

On average, The Union Bank Co’s interest rates were similar to those of other lenders (-0.02%). Its loan related closing costs were also similar to those of other lenders, with a difference of -$127. Overall, combining interest rates and closing costs we estimate that The Union Bank Co tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 3.5 out of 5 stars. We maintain our independence by not accepting any money from the mortgage lenders we review. To visit The Union Bank Co, its website is located at: https://www.theubank.com.

The Union Bank Co’s Rate Review by City

Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders in your area, click here. In particular, among the cities we track The Union Bank Co was most active in:

  1. Columbus, OH
  2. Lima, OH
  3. Cincinnati, OH
  4. Toledo, OH
  5. New York, NY

The Union Bank Co’s Rate Review by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, The Union Bank Co originated Conforming, FHA, USDA and VA mortgages for new home purchases. It also originated Conforming, FHA and VA mortgages for refinances. Its average interest rate and total loan related closing cost difference relative to other lenders for comparable borrowers by mortgages type is as follows.

Purchase/Refinance:
New Purchase MortgagesConformingFHAUSDAVA
Interest Rate Difference-0.05%-0.00%-0.01%-0.01%
Loan Related Closing Cost Difference-$125-$75-$18+$19
Cost Adjusted Rate Difference-0.05%-0.01%-0.02%-0.01%
National Star Rating(4)(3.5)(3.5)(3.5)
Refinance MortgagesConformingFHAVA
Interest Rate Difference-0.02%-0.00%+0.00%
Loan Related Closing Cost Difference-$191-$31-$66
Cost Adjusted Rate Difference-0.03%-0.01%+0.00%
Average Star Rating(3.5)(3.5)(3.5)

As a summary, The Union Bank Co is cheap for Conforming purchase mortgages. It is similar to other lenders for FHA, USDA and VA purchase mortgages. For refinancing mortgages, The Union Bank Co is similar to other lenders for Conforming, FHA and VA mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.

Other information about The Union Bank Co:

Registered name: The Union Bank Company
Registered city and state: Columbus Grove, OH, 45830
Regulator: Federal Deposit Insurance Corporation (FDIC)
Top holder: UNITED BANCSHARES, INC.

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for The Union Bank Co’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.