Union Capital Mortgage Interest Rate and Cost Review

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

Review ItemUnion Capital Mortgage
Interest Ratesimilar to other lenders (-0.01%)
Loan Related Closing Costssimilar to other lenders (+$227)
National Rate and Closing Cost Star Rating(3.5)

On average, Union Capital Mortgage’s interest rates were similar to those of other lenders (-0.01%). Its loan related closing costs were also similar to those of other lenders, with a difference of +$227. Overall, combining interest rates and closing costs we estimate that Union Capital Mortgage 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 Union Capital Mortgage, its website is located at: https://www.unioncapmtgs.com.

Union Capital Mortgage’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 Union Capital Mortgage was most active in:

  1. Cleveland, OH
  2. North Ridgeville, OH
  3. Cape Coral, FL
  4. Columbus, OH
  5. Boardman, OH

Union Capital Mortgage’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, Union Capital Mortgage originated Conforming, FHA, Jumbo and VA mortgages for new home purchases and refinances. Its average interest rate and total loan related closing cost difference relative to other lenders by mortgages type is as follows.

Purchase/Refinance:
New Purchase MortgagesConformingFHAJumboVA
Interest Rate Difference+0.03%-0.07%+0.03%+0.06%
Loan Related Closing Cost Difference+$465+$302+$28+$37
Cost Adjusted Rate Difference+0.08%-0.04%+0.04%+0.06%
National Star Rating(3)(3.5)(3.5)(3)
Refinance MortgagesConformingFHAJumboVA
Interest Rate Difference-0.07%-0.03%+0.01%-0.04%
Loan Related Closing Cost Difference-$335-$112-$26-$382
Cost Adjusted Rate Difference-0.08%-0.04%+0.01%-0.07%
Average Star Rating(4)(3.5)(3.5)(4)

As a summary, Union Capital Mortgage is similar to other lenders for FHA and Jumbo purchase mortgages. It is more expensive than other lenders for Conforming and VA purchase mortgages. For refinancing, Union Capital Mortgage is cheap for Conforming and VA mortgage refinance. It is similar to other lenders for FHA and Jumbo 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 Union Capital Mortgage:

Registered name: Union Capital Mortgage Corp
Registered city and state: Mentor, OH, 44060
Regulator: United States Department of Housing and Urban Development (HUD)

* 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 Union Capital Mortgage’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.