Union Home Mortgage is a residential mortgage company based in Ohio. Operating in 48 states as well as the District of Columbia, the company offers many different loan products. These include fixed-rate and adjustable-rate mortgages, as well as FHA, VA, USDA, refinancing, rehab, and new construction loans.
Does Union Home Mortgage Operate in My Area?
While not yet a nationwide mortgage company, Union Home Mortgage does operate in 48 states. It is licensed to conduct business in all states except Hawaii and New York.
What Kind of Mortgage Can I Get with Union Home Mortgage?
Fixed-rate mortgages: One of the most common types of mortgages, a fixed-rate mortgage has a set interest rate for the life of the loan. Loan terms at Union Home Mortgage can range from 10 to 30 years.
Adjustable-rate mortgages: Also called ARM loans, adjustable-rate mortgages start out with a fixed rate before adjusting to market rates after a set period.
FHA loans: Insured by the Federal Housing Administration, these special mortgages require a minimum 3% down payment and may be more accessible to borrowers with past credit issues.
VA loans: Backed by the Department of Veteran Affairs (VA), these loans are intended to help qualified military professionals, veterans, and reservists buy homes. Although borrowers must pay a VA funding fee, oftentimes banks do not require a down payment for this type of loan and may offer a lower interest rate than with a conventional loan product.
USDA loans: Offered only in designated rural areas, the Department of Agriculture (USDA) provides these loans to maintain and revitalize more rural parts of the country. Special terms may be offered, such as 100% financing and higher flexibility for borrowers with lower or poorer credit scores.
What Can You Do Online with Union Home Mortgage?
Union Home Mortgage offers simple mortgage and refinancing calculators to help you estimate your monthly payments before you apply. The online calculators can also help you break down the mortgage payments for easy understanding, as well as demonstrate how much you could save with a refinanced mortgage at a lower interest rate.
You cannot apply directly for a mortgage online with Union Home Mortgage, even though you can manage your loan through their customer portal. Inquiries online are straightforward and easy, but you have to fill out a form or call directly to speak with a loan officer in order to apply.
However, you can apply for a loan through the My UHM app. Potential borrowers can upload all documents required to the app, track their loan applications, and estimate payments from their mobile phones. In case of any issues, the company provides a phone number and email for further help.
Would You Qualify for a Mortgage From Union Home Mortgage?
Like any other mortgage company, Union Home Mortgage cannot deny a housing loan solely because of a borrower’s credit score. Most lenders, however, do ask for a FICO score of at least 620 for a conventional loan, while certain government-backed programs allow for borrowers with less-than-fair credit. Other factors that lenders consider include your debt-to-income ratio and the affordability of your desired home.
Many government-backed mortgages will also require the borrower to pay a private mortgage premium (PMI), as will conventional loans with down payments of less than 20%. Depending on the loan product, some qualified buyers may not need to put any money down at all.
What’s the Process for Getting a Mortgage With Union Home Mortgage?
You can either start the process by completing the contact form online or by applying directly through the My UHM app. Filling out the application form will guide you through a comparison of loan options and the requirements needed to move your application forward. According to the Union Home website, you can get prequalified in minutes.
A professional will appraise your property once your application has been received and your offer has been accepted. Once your loan has been processed and fully approved, it will be underwritten and your closing will be scheduled.
How Union Home Mortgage Stacks Up
Although Union Home Mortgage offers a variety of mortgage options, they do not operate in every state. So while most borrowers will likely find a product that works well for their circumstances, some potential buyers simply don’t have that option.
On the other hand, the company does have a very easy-to-use mobile app, which will appeal to consumers who enjoy using their smartphone to manage their finances. For customers who prefer a more conventional, face-to-face interaction, Union Home also has branches across the country with loan officers available during standard business hours.
Tips for Getting a Mortgage
- Not sure which mortgage is the right choice for you? Consider speaking with a financial advisor. SmartAsset’s free tool matches you with vetted financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
- Use SmartAsset’s free mortgage calculator to get an idea what you might pay monthly for a new home.
|
No mortgages were found. Searching for Mortgages… 
|
Availability of Advertised Terms: Each Advertiser is responsible for the accuracy and availability of its own advertised terms. Bankrate cannot guaranty the accuracy or availability of any loan term shown above. However, Bankrate attempts to verify the accuracy and availability of the advertised terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. Click here for rate criteria by loan product.
Loan Terms for Bankrate.com Customers: Advertisers may have different loan terms on their own website from those advertised through Bankrate.com. To receive the Bankrate.com rate, you must identify yourself to the Advertiser as a Bankrate.com customer. This will typically be done by phone so you should look for the Advertiser’s phone number when you click-through to their website. In addition, credit unions may require membership.
Loans Above $417,000 May Have Different Loan Terms: If you are seeking a loan for more than $417,000, lenders in certain locations may be able to provide terms that are different from those shown in the table above. You should confirm your terms with the lender for your requested loan amount.
Taxes and Insurance Excluded from Loan Terms: The loan terms (APR and Payment examples) shown above do not include amounts for taxes or insurance premiums. Your monthly payment amount will be greater if taxes and insurance premiums are included.
Consumer Satisfaction: If you have used Bankrate.com and have not received the advertised loan terms or otherwise been dissatisfied with your experience with any Advertiser, we want to hear from you. Please click here to provide your comments to Bankrate Quality Control.
”
data-ratelenderportal=”The offers that appear on this site are from companies from which
SmartAsset.com receives compensation. This compensation may impact how and
where products appear on this site (including, for example, the order in which they
appear). SmartAsset.com does not include all providers or product offers
available in the marketplace.
Mortgage rate quotes displayed on SmartAsset℠, including loan pricing data, rates and fees, are provided by third
party data providers including, but not limited to, Mortech®, a registered trademark of Zillow®.
Rates presented does not constitute an actual commitment to lend or an offer to extend credit. The interest rates,
annual percentage rates, and other terms advertised here are estimates provided by those advertising partners based
on the information you entered above and they do not bind any lender. A commitment to lend can only be issued upon
satisfactory submission, review and approval of (1) a complete application, supporting documents and good faith
funds, (2) verification of your income, assets and financial condition, (3) satisfactory appraisal of the proposed
property, and (4) no adverse change in your credit profile from the time of application. Please note that actual
interest rate, APR, and terms of the loan cannot be determined until a complete application has been filed, and a
rate Lock-In Agreement have been mutually executed and the rate Lock-In Option within the rate Lock-In Agreement has
been selected. Until such activities have taken place, the rate and fees are subject to change without prior notice.
The fees listed above represent fees charged and do not include fees charged by third party companies (such as
appraisal, credit report, title insurance, state taxes, attorney fees, state fees, county fees or any other
non-lender fees), and are also subject to change based on any additional information provided by the person who
completed the request, or is subject to change upon receiving more specified information about any online form which
was originally deemed by advertising partner to be too general for providing accurate fee information. No lender is
liable for typographical or data transmission errors. Monthly payment details does not include property taxes and
homeowners insurance, which both must be included in your monthly payment to the mortgage servicer to qualify for
the rates and terms provided.
Additional data provided by Icanbuy. Payments do not include amounts for taxes and insurance premiums.
The actual payment obligation will be greater if taxes and insurance are included.
Click here for more information on rates and
product details.
“>
Disclosure
View more mortgages
Leave a comment