United Northern Mortgage Bankers Interest Rate and Cost Review

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

Review ItemUnited Northern Mortgage Bankers
Interest Ratesimilar to other lenders (+0.05%)
Loan Related Closing Costshigher than other lenders (+$696)
National Rate and Closing Cost Star Rating(3)

On average, United Northern Mortgage Bankers’s interest rates were similar to those of other lenders (+0.05%). On the other hand, its loan related closing costs were higher than those of other lenders, with a difference of +$696. Overall, combining interest rates and closing costs we estimate that United Northern Mortgage Bankers tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 3 out of 5 stars.

We maintain our independence by not accepting any money from the mortgage lenders we review. To visit United Northern Mortgage Bankers, check out its website at: https://www.unitednorthern.com.

United Northern Mortgage Bankers’s Rate Review by City

Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders by city, click here. In particular, among the cities we track United Northern Mortgage Bankers was most active in:

  1. New York, NY
  2. Yonkers, NY
  3. Jersey City, NJ
  4. Stamford, CT
  5. Ocean City, NJ

United Northern Mortgage Bankers’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, United Northern Mortgage Bankers originated Conforming, FHA, Jumbo 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.

New Purchase MortgagesConformingFHAJumboVA
Interest Rate Difference+0.11%-0.01%+0.01%+0.01%
Loan Related Closing Cost Difference+$951+$753+$97-$10
Cost Adjusted Rate Difference+0.15%+0.02%+0.01%+0.01%
National Star Rating(2.5)(3.5)(3.5)(3.5)
Refinance MortgagesConformingFHAVA
Interest Rate Difference-0.01%-0.05%+0.00%
Loan Related Closing Cost Difference+$248+$51-$111
Cost Adjusted Rate Difference-0.00%-0.04%-0.00%
Average Star Rating(3.5)(3.5)(3.5)

As a summary, United Northern Mortgage Bankers is similar to other lenders for FHA, Jumbo and VA purchase mortgages. It is more expensive than other lenders for Conforming purchase mortgages. For refinancing mortgages, United Northern Mortgage Bankers 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 United Northern Mortgage Bankers:

Registered name: United Northern Mortgage Bankers Limited
Registered city and state: Levittown, NY, 11756
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 United Northern Mortgage Bankers’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.