Is Univest Bank and Trust Co. An Expensive Mortgage Lender?

We compare mortgage interest rate and loan related closing costs at Univest Bank and Trust Co. with other lenders for mortgages with similar borrower characteristics:

Interest Rate: similar to average (+0.00%)
Loan Related Closing Costs: similar to average (-$189)
Assessment: this lender tends to be a average cost lender.

This scoreboard is based on data reported to FFIEC. In the data, Univest Bank and Trust Co. originated 1508 mortgages, a national market share of 0.0%. It was most active in PA (0.6% market share), NJ (0.1% market share), and DE (0.0% market share).

On average, Univest Bank and Trust Co.’s interest rates were similar to those of comparable mortgages at other lenders (+0.00%).1The comparable mortgages control for Univest Bank and Trust 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 county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages. Its average total loan related closing cost was $4562, which was similar to those of comparable mortgages at $4751, with a difference of -$189. Overall, we estimate that Univest Bank and Trust Co. tends to be an average cost lender, with a cost-adjusted-rate difference of -0.01% compared to comparable mortgages at other lenders.2Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate. Nevertheless, we recommend comparing your rate and fees with at least a few other lenders before signing with Univest Bank and Trust Co..

Univest Bank and Trust Co. originated Conforming and FHA mortgages for new home purchases. It also originated Conforming mortgages for refinances. We breakdown its interest rate and total loan related closing cost on by each of the mortgage types it originated below:

Home Purchase Mortgages from Univest Bank and Trust Co. compared to other lenders

Conforming FHA
Interest Rate Difference +0.04% -0.18%
Loan related Closing Cost Difference -$234 -$192
Cost Adjusted Rate Difference +0.02% -0.20%

Based on the table above, Univest Bank and Trust Co. is cheap for FHA purchase mortgages. It is similar to other lenders for Conforming purchase mortgages.

Mortgage Refinancing from Univest Bank and Trust Co. compared to other lenders

Conforming
Interest Rate Difference +0.01%
Loan Related Closing Cost Difference -$59
Cost Adjusted Rate Difference +0.01%

Based on the table above, Univest Bank and Trust Co. is similar to other lenders for Conforming mortgage refinance.

Other information about Univest Bank and Trust Co.:

Regulator: Federal Reserve System (FRS) 
Top holder: UNIVEST CORPORATION OF PENNSYLVANIA
Registered city and state: Souderton, PA, 18964

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Footnotes   [ + ]

1. The comparable mortgages control for Univest Bank and Trust 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 county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages.
2. Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate.