PlainLender

Union Bank

Morrisville, VT

Union Bank processed 843 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 662 loans with a 7.5% denial rate. Home Purchase was the primary loan purpose. Based in Morrisville, VT. The approval rate of 78.5% reflects originated loans as a share of all applications. Below you will find a breakdown by loan type, loan purpose, denial reasons, and demographic lending patterns as required by the Home Mortgage Disclosure Act.

Portfolio scale. Union Bank processed 843 HMDA-reported mortgage applications in 2024, originating 662 loans and denying 63 for a denial rate of 7.5% (applicants themselves withdrew 113 files before a decision). The average loan amount was $317,669 at a 7.016% average note rate, and applicants self-reported an average income of $35,000. The lender reports under LEI 549300I3PFIO81O8JD40 from Morrisville, VT.

Why approval and denial rates diverge. Approval (origination) rate and denial rate do not sum to 100% — HMDA records several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Union Bank's 78.5% origination rate tells you how often an application turned into funded money; the 7.5% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Debt-to-income ratio, Credit history, Collateral, which together explain the majority of rejections. Most activity concentrated in Conventional loans (800 applications).

How to read this page. These figures are aggregate HMDA disclosures — they describe this lender's overall 2024 book, not your individual odds. Approval and denial rates are shaped by the applicant mix a lender actually receives: credit profile, loan-to-value, debt-to-income, property type, and geography. A lower denial rate at one lender versus another does not necessarily mean easier underwriting — it often reflects borrower self-selection and loan-product specialization. This page is informational data reporting, not financial, legal, or mortgage advice. Compare multiple lenders, read your Loan Estimate carefully, and consult a licensed mortgage professional before applying. Data reflects 2024 disclosures published by the CFPB in 2025.

843
Applications
662
Originated
7.5%
Denial Rate
$317,669
Avg Loan Amount
Avg Interest Rate: 7.016% Avg Applicant Income: $35,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 800 639 50 $320,813
FHA 28 13 10 $221,071
USDA 9 4 3 $221,667
VA 6 6 0 $493,333

Top loan types — Union Bank

Top loan types — Union Bank Horizontal bar chart of the top 4 items by value (applications). Top loan types — Union Bank Top 4 1. Conventional 800 2. FHA 28 3. USDA 9 4. VA 6 Top 5 loan types by application volume at Union Bank (HMDA 2023). Source: CFPB HMDA loan/application register.

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2023 LAR — application-level mortgage data for Union Bank (LEI: 549300I3PFIO81O8JD40) · 2023 HMDA reports filed annually; covers applications received during the calendar year. Approval rates exclude withdrawn / incomplete applications. Denial reasons are lender-reported.

Denial Analysis

Debt-to-income ratio
34
Credit history
18
Collateral
15
Other
5
Employment history
4
Insufficient cash
3
Unverifiable information
3

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 615 489 $368,480
Home Improvement 77 53 $134,221
Other 68 55 $118,088
Cash-out Refinancing 59 48 $219,068
Refinancing 24 17 $412,083

Geographic Coverage — Lending by Race

Derived race categories as reported under HMDA. Source: CFPB.

Race Applications Approval Rate Denial Rate
White 654 79.4% 7.8%
Joint 15 60.0% 26.7%
Asian 12 83.3% 0.0%
Black or African American 3 33.3% 0.0%
American Indian or Alaska Native 1 0.0% 0.0%
Native Hawaiian or Other Pacific Islander 1 100.0% 0.0%

Lending by Ethnicity

Hispanic/Latino is an ethnicity, not a race. Shown separately per U.S. Census Bureau standards.

Ethnicity Applications Approval Rate Denial Rate
Not Hispanic or Latino 641 78.9% 8.0%
Joint 13 84.6% 7.7%
Hispanic or Latino 10 80.0% 0.0%

Nearby Lenders in VT

Other HMDA-reporting lenders in VT with similar activity. Compare any two side-by-side.

EastRise Federal Credit Union

WILLISTON, VT

3,172 apps 2,288 originated 6.0% denied

NorthCountry Federal Credit Union

Burlington, VT

1,223 apps 689 originated 17.5% denied

VERMONT FEDERAL CREDIT UNION

SOUTH BURLINGTON, VT

853 apps 601 originated 17.1% denied

NORTHFIELD SAVINGS BANK

BERLIN, VT

424 apps 257 originated 9.2% denied

802 Credit Union

Brattleboro, VT

356 apps 356 originated 0.0% denied
Compare Union Bank vs EastRise Federal Credit Union →

Mortgage Lending Guides

Why Mortgages Get Denied
Common denial reasons and how to improve your chances
Comparing Mortgage Lenders
What to look for when choosing a mortgage lender
Getting the Best Mortgage Rate
Strategies for securing the lowest interest rate
Understanding HMDA Data
How to read and interpret mortgage disclosure data
Denial Rates by Demographics
Demographic patterns in mortgage approval and denial

Explore More Data

Bank Financial Data → Credit Union Data → Financial Advisor Lookup → Home Insurance Costs → Property Tax Data → Rent Price Data →

Frequently Asked Questions

How many mortgage applications did Union Bank process?
Union Bank processed 843 mortgage applications in the 2023 HMDA reporting year. Of these, 662 were originated (approved and funded), 113 were withdrawn by the applicant, and 63 were denied.
What is Union Bank's mortgage approval rate?
Union Bank has an approval (origination) rate of 78.5%, meaning 78.5% of all applications resulted in a funded mortgage. The denial rate is 7.5%.
What is the average loan amount at Union Bank?
The average mortgage loan amount at Union Bank is $317,669. The average interest rate is 7.016%. The average applicant income is $35,000.
What are the most common reasons for mortgage denial at Union Bank?
The most common reasons for mortgage denial at Union Bank are: Debt-to-income ratio, Credit history, Collateral. In total, 63 applications were denied out of 843 total applications.
What types of mortgage loans does Union Bank offer?
Union Bank processes Conventional, FHA, USDA, VA loans. The most common type is Conventional with 800 applications and an average loan amount of $320,813.
What loan purposes does Union Bank serve?
Union Bank serves the following loan purposes: Home Purchase (615 applications), Home Improvement (77 applications), Other (68 applications), Cash-out Refinancing (59 applications), Refinancing (24 applications). Home Purchase is the most common purpose.
Where is Union Bank located?
Union Bank is headquartered in Morrisville, VT. The lender is identified by LEI 549300I3PFIO81O8JD40 in HMDA data.
How does Union Bank compare in lending across racial demographics?
Union Bank reports demographic lending data under HMDA requirements. White applicants have an approval rate of 79.4% and denial rate of 7.8%; Joint applicants have an approval rate of 60.0% and denial rate of 26.7%; Asian applicants have an approval rate of 83.3% and denial rate of 0.0%. This data reflects derived race categories as reported by applicants.

Data Sources

Data as of 2024. Source: Consumer Financial Protection Bureau (CFPB), Home Mortgage Disclosure Act (HMDA) 2024 Snapshot.

Data from FFIEC / CFPB HMDA 2024 Snapshot National Loan-Level Dataset. Demographic data reflects derived categories as reported by applicants. Denial rates include all application outcomes. This data is provided for informational purposes only.

Read our methodology — how this data is sourced, computed, and verified.