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Union Home Mortgage (UHM) is a full-service mortgage lender based in Strongsville, Ohio. It has more than 155 branch locations and has originated more than $13 billion in purchase and refinance loans. UHM is licensed to make loans in most states (except Alaska, Hawaii, New York, North Dakota, and South Dakota) and Washington, D.C.
In this review:
- Union Home Mortgage review
- Union Home Mortgage refinance review
- How Union Home Mortgage could improve
Union Home Mortgage review
Best for:
- Borrowers looking to finance a new construction
- Veterans
- Borrowers who want to purchase a rural or suburban property with no money down
Whether you’re building a new home or buying an existing one, Union Home Mortgage has a competitively priced mortgage loan that can finance your purchase.
Conventional loans are a good choice if you have strong credit, which generally means a credit score of at least 620. However, if you’re an eligible veteran or active-duty service member, you might be better off using a loan backed by the U.S. Department of Veterans Affairs (VA), which often has a lower rate than a conventional loan and doesn’t require a down payment.
If you don’t qualify for a conventional loan or VA loan, you might consider FHA or USDA financing. Both are easier than a conventional loan to qualify for, and you don’t need a down payment for a USDA loan.
Union Home Mortgage also offers new construction financing in the form of a conventional, VA, or FHA loan. One benefit of UHM’s construction loans is that you’ll only pay interest until construction is complete.
If the home you’re buying needs work, a rehab loan from UHM can finance the purchase and pay for the work, all in one loan. Down payment assistance may be available in some locations as well. Contact a loan officer for details.
Here’s an at-a-glance look at Union Home Mortgage’s purchase loans:
Mortgage programs | Conventional, jumbo, VA, FHA, USDA, rehab |
Fixed-rate loan terms | 10, 15, 20, and 30 years |
Variable-rate loan terms | 5/6, 7/6, and 10/6 |
Rates and fees | Rates and fees depend on loan type, borrower qualifications, discount points, and lender credits. Some products require mortgage insurance. Contact a loan officer for more information. |
Min. credit score |
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Min. down payment |
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Union Home Mortgage loan process
Before taking out a home loan with Union Home Mortgage, you’ll need to contact your nearest branch office, or search for an office on the UHM website.
Once you find a branch or loan officer, you can request a prequalification by entering your contact and employment information into the online form. You’ll also be asked to provide details pertaining to your credit, income, and debt.
After submitting the form, you’ll have to wait for a loan officer to contact you; they’ll usually reach out within one business day. Note that this is a prequalification, not a pre-approval. Prequalifications give you a sense of what you can afford, whereas pre-approvals go a step further by running your credit. You might need a pre-approval to make an offer on a home.
Applying for the home loan itself follows a similar process. You can’t start an application online — you must call a branch office or the toll-free main number, or submit a contact form and wait to be contacted by a loan officer. The loan officer will guide you through the next steps.
Union Home Mortgage refinance review
Best for:
- Homeowners looking for a competitive mortgage rate on a refinance
- Homeowners who want to switch from an adjustable-rate mortgage to a fixed-rate loan
- Homeowners who prefer to work with a loan officer to research and apply for loans online
Most Union Home Mortgage refinance customers already have a home loan with UHM, which suggests they’re happy with the products and services the company provides. However, UHM can handle your refinance even if your current home mortgage is with another lender.
You can switch from an adjustable-rate mortgage (ARM) to a fixed-rate loan using a conventional loan refinance, jumbo refinance, VA refinance, or FHA refinance if you qualify.
Whether you switch from an ARM to a fixed-rate loan or trade one fixed-rate loan for another, you have two options with most refinance loans. The first is to change the rate and/or term of your existing fixed-rate loan. Lowering your interest rate and altering your payoff timeline can help make your monthly payments more affordable. The other option is to leverage your equity with a cash-out refinance.
In the case of a VA or FHA refi, opting for a streamline loan expedites the process and reduces the amount of documentation you must provide.
Here’s a detailed look at Union Home Mortgage’s refinance loans:
Mortgage refinance programs | Conventional, jumbo, VA, FHA, USDA, rehab |
Fixed-rate loan terms | 10, 15, 20, and 30 years |
Variable-rate loan terms | 5/6, 7/6, and 10/6 |
Rates and fees | Rates and fees depend on loan type, borrower qualifications, discount points, and lender credits. Some products require mortgage insurance. Contact a loan officer for more information. |
Min. credit score |
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Min. down payment |
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How Union Home Mortgage could improve
Union Home Mortgage can finance your home purchase or refinance your current mortgage loan at a competitive rate. However, UHM can improve on some fronts:
- Privacy: Union Home Mortgage requires that you share a lot of personal information for routine tasks like inquiring about rates. Some tasks, such as requesting a prequalification, require more information than is necessary — your employer’s name, for example.
- No instant pre-approval: Union Home Mortgage lets you request a prequalification, which is of little use if you’re making an offer on a home because it doesn’t verify your credit. Plus, it can take 24 hours to get it. You’ll have to wait for a call back and go through a second process to get a pre-approval you can submit with an offer on a home.
- Website usefulness: The Union Home Mortgage website could be more user-friendly. Specific, detailed information about purchase and refinance loans and who qualifies for them, as well as rate and fee disclosures — features that are common on other mortgage lenders’ websites — would be most helpful here. So would automated processes for getting a pre-approval and beginning a loan application.
Union Home Mortgage’s product choices are appealing, especially if you’re a current UHM customer looking to refinance. But you should shop around and compare loans from a variety of mortgage lenders before you make a final decision.
Union Home Mortgage isn’t a Credible partner, but we make shopping for purchase and refinance loans quick and easy by letting you compare personalized rates from our vetted partner lenders. Once you pick the best home loan for your needs, you can apply and have it processed right on our platform.