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Union Bank is a full service bank, offering many types of financial products like checking accounts and credit cards. However, they seem to offer one of the most credible loan service departments as far as their expertise and upfront commitments. Their website is informative, transparent and accessible. They claim that there are no outside actors and that the loan’s application review and underwriting is all done at Union Bank, simplifying the process and keeping the costs of processing down to a lower level than other lending institutions.

Distinguishing Features of Union Bank’s Loan Portfolio

The range of loan products available is broad and includes fixed rate mortgages, adjustable rate mortgages, FHA loans, VA loans, jumbo loans, HARP refinance services: mortgage refinancing, cash-out refinancing, new home loans, and reverse mortgages, down payment loans for first time buyers, physicians loans, renovation and construction loans.  Union Bank has a large inventory of loans for clients that don’t meet traditional lending standards. They offer a HomeReady program, an Economic Opportunity Mortgages and refinancing loan program as well as the traditional government backed loans like FHA and VA loans. They also offer investment loans for second homes or investment properties. The adjustable rate loans they offer also include the flexibility to switch from an adjustable rate to fixed rate within a particular time period for no charge.

Great to Know What You’re Getting Into

Although there are lots of companies to choose from when looking to acquire a home loan, there is definitely something to be said for using an institution that enjoys the flexibility of a bank as opposed to an investment company, a mortgage broker or even a mortgage company. Continuity of service and inhouse processing gives a bank the opportunity to offer better deals. This bank actually does seem to use their flexibility to do just that.