Platinum Home Mortgage Corporation Rates, Fees & Info

Chicago, IL

LEI: 254900D8UVDBN0LNLV64

Tax ID: 43-1653688

2.8 stars - out of 5 stars, based on 67 reviews

Latest/2021 | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • SimulatedRates™
  • Review & Overview

    Platinum Home Mortgage Corporation is a small mortgage company specializing in Home Purchase and Refi loans. Platinum Home Mortgage Corporation has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Detroit, San Francisco, Bakersfield, Chicago, and Riverside among others. We have data for 163 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Platinum Home Mortgage Corporation has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Platinum Home Mortgage Corporation is typically a high fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    SimulatedRates™

    Mortgage Type
    Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.94% 11/26/22
    30 Year Conventional Refi 6.95% 11/26/22
    30 Year Cash-out Refi 7.09% 11/26/22
    30 Year FHA Purchase 7.99% 11/26/22
    30 Year FHA Refi 7.66% 11/26/22
    30 Year VA Purchase 6.90% 11/26/22
    30 Year VA Refi 6.65% 11/26/22
    30 Year USDA Purchase 7.24% 11/26/22
    30 Year USDA Refi 7.33% 11/26/22
    15 Year Conventional Purchase 6.27% 11/26/22
    15 Year Conventional Refi 6.28% 11/26/22
    15 Year Cash-out Refi 6.28% 11/26/22
    15 Year FHA Refi 7.39% 11/26/22
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.


    Originations

    4,472

    Origination Dollar Volume (All Markets)

    $1,177,300,000

    Relative Rate

    Platinum Home Mortgage Corporation's average 30 year fixed mortgage rate was 3.1%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.05%.

    Relative Fees (Closing Costs)

    Platinum Home Mortgage Corporation's average total fees/closing costs for a 30 year fixed rate mortgage were $7,100.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1,190 $263,190,000 $221,168 $3,695 3.04%
    Outside of Metro Areas 444 $148,900,000 $335,360 $7,167 3.12%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 299 $123,515,000 $413,094 $8,957 2.92%
    BAKERSFIELD, CA (FHA|USDA|VA) 411 $105,355,000 $256,338 $7,483 3.02%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 305 $74,805,000 $245,262 $6,681 3.02%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 239 $73,865,000 $309,059 $8,262 3.00%
    FRESNO, CA (FHA|USDA|VA) 240 $51,060,000 $212,750 $8,213 2.69%
    VISALIA, CA (FHA|USDA|VA) 181 $40,005,000 $221,022 $8,582 2.72%
    Outside of Metro Areas 135 $28,035,000 $207,667 $7,297 3.25%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 54 $19,470,000 $360,556 $7,860 3.05%
    VALLEJO, CA (FHA|USDA|VA) 54 $18,610,000 $344,630 $10,216 2.89%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 43 $15,375,000 $357,558 $10,044 3.27%
    STOCKTON, CA (FHA|USDA|VA) 52 $14,810,000 $284,808 $9,266 2.84%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 75 $12,405,000 $165,400 $6,197 3.28%
    Sandpoint, ID (FHA|USDA|VA) 34 $11,260,000 $331,176 $7,696 3.26%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 50 $10,880,000 $217,600 $5,884 3.22%
    Moscow, ID (FHA|USDA|VA) 40 $9,740,000 $243,500 $6,171 3.10%
    FLINT, MI (FHA|USDA|VA) 35 $9,065,000 $259,000 $6,864 3.04%
    SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 27 $8,645,000 $320,185 $5,997 3.14%
    MODESTO, CA (FHA|USDA|VA) 31 $8,175,000 $263,710 $6,986 2.78%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 15 $7,935,000 $529,000 $11,249 3.06%
    MONROE, MI (FHA|USDA|VA) 40 $7,180,000 $179,500 $5,922 3.22%
    MADERA, CA (FHA|USDA|VA) 24 $6,200,000 $258,333 $8,342 3.09%
    Dublin, GA (FHA|USDA|VA) 32 $5,630,000 $175,938 $9,326 3.35%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 14 $4,460,000 $318,571 $7,826 3.28%
    ANN ARBOR, MI (FHA|USDA|VA) 12 $4,450,000 $370,833 $4,745 2.97%
    ROCKFORD, IL (FHA|USDA|VA) 34 $4,160,000 $122,353 $5,336 2.79%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 8 $3,910,000 $488,750 $12,865 2.98%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 17 $3,605,000 $212,059 $5,049 3.15%
    MERCED, CA (FHA|USDA|VA) 11 $3,555,000 $323,182 $9,102 3.35%
    HINESVILLE, GA (FHA|USDA|VA) 19 $3,415,000 $179,737 $10,731 3.49%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 8 $2,420,000 $302,500 $6,237 2.91%
    SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 5 $2,385,000 $477,000 $10,531 3.20%
    BOISE CITY, ID (FHA|USDA|VA) 6 $2,120,000 $353,333 $8,312 3.31%
    SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 5 $1,925,000 $385,000 $4,118 2.95%
    MACON-BIBB COUNTY, GA (FHA|USDA|VA) 11 $1,845,000 $167,727 $9,703 3.47%
    SAVANNAH, GA (FHA|USDA|VA) 10 $1,840,000 $184,000 $10,347 3.27%
    Pullman, WA (FHA|USDA|VA) 9 $1,765,000 $196,111 $4,765 3.16%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 9 $1,705,000 $189,444 $10,077 3.30%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 8 $1,630,000 $203,750 $2,908 2.84%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 4 $1,600,000 $400,000 $5,944 3.15%
    Adrian, MI (FHA|USDA|VA) 5 $1,535,000 $307,000 $6,343 2.97%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 3 $1,525,000 $508,333 $7,293 2.95%
    Statesboro, GA (FHA|USDA|VA) 9 $1,515,000 $168,333 $10,587 3.28%
    Pahrump, NV (FHA|USDA|VA) 8 $1,510,000 $188,750 $5,973 3.30%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 4 $1,470,000 $367,500 $3,727 3.09%
    Vidalia, GA (FHA|USDA|VA) 9 $1,295,000 $143,889 $9,606 3.33%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 2 $1,270,000 $635,000 $10,207 3.18%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 3 $1,225,000 $408,333 $17,785 4.29%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 5 $1,225,000 $245,000 $5,157 3.20%
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 5 $1,175,000 $235,000 $5,724 3.27%
    Traverse City, MI (FHA|USDA|VA) 4 $1,140,000 $285,000 $3,559 2.78%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 2 $1,070,000 $535,000 $6,357 3.44%
    JACKSON, MI (FHA|USDA|VA) 6 $1,040,000 $173,333 $5,558 3.10%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $1,020,000 $510,000 $13,322 3.43%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 4 $1,000,000 $250,000 $5,028 3.12%
    BRUNSWICK, GA (FHA|USDA|VA) 5 $995,000 $199,000 $11,986 3.45%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 4 $990,000 $247,500 $5,204 2.93%
    Truckee-Grass Valley, CA (FHA|USDA|VA) 2 $920,000 $460,000 $9,545 2.75%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 4 $900,000 $225,000 $5,915 3.00%
    SALEM, OR (FHA|USDA|VA) 2 $880,000 $440,000 $9,260 3.06%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 2 $870,000 $435,000 $12,122 3.06%
    IDAHO FALLS, ID (FHA|USDA|VA) 2 $760,000 $380,000 $8,497 2.93%
    Jesup, GA (FHA|USDA|VA) 4 $740,000 $185,000 $10,957 3.63%
    Helena, MT (FHA|USDA|VA) 2 $720,000 $360,000 $7,819 2.99%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 2 $700,000 $350,000 $4,326 3.25%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 3 $685,000 $228,333 $4,319 2.96%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 3 $655,000 $218,333 $12,406 3.08%
    SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 2 $640,000 $320,000 $7,885 2.81%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 3 $625,000 $208,333 $4,524 2.88%
    MOBILE, AL (FHA|USDA|VA) 4 $610,000 $152,500 $11,054 3.38%
    FLORENCE, SC (FHA|USDA|VA) 4 $550,000 $137,500 $7,049 3.09%
    Clearlake, CA (FHA|USDA|VA) 1 $535,000 $535,000 $5,561 3.38%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 2 $530,000 $265,000 $4,694 4.19%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 2 $520,000 $260,000 $5,382 3.25%
    Torrington, CT (FHA|USDA|VA) 1 $515,000 $515,000 $12,974 3.50%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 1 $505,000 $505,000 $3,221 2.38%
    THE VILLAGES, FL (FHA|USDA|VA) 2 $490,000 $245,000 $8,819 3.56%
    LEWISTON, ID-WA (FHA|USDA|VA) 2 $480,000 $240,000 $8,624 3.44%
    MISSOULA, MT (FHA|USDA|VA) 1 $475,000 $475,000 $14,343 3.25%
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 3 $475,000 $158,333 $9,426 3.50%
    Hailey, ID (FHA|USDA|VA) 1 $475,000 $475,000 $4,449 3.25%
    CARSON CITY, NV (FHA|USDA|VA) 1 $475,000 $475,000 $8,472 2.88%
    RENO, NV (FHA|USDA|VA) 2 $470,000 $235,000 $3,123 4.19%
    ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 2 $460,000 $230,000 $14,087 3.13%
    ROME, GA (FHA|USDA|VA) 1 $445,000 $445,000 $10,407 3.13%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $445,000 $445,000 $8,970 3.25%
    Hillsdale, MI (FHA|USDA|VA) 2 $420,000 $210,000 $3,332 3.18%
    Milledgeville, GA (FHA|USDA|VA) 3 $415,000 $138,333 $7,754 3.58%
    MIDLAND, MI (FHA|USDA|VA) 2 $400,000 $200,000 $7,932 3.50%
    Freeport, IL (FHA|USDA|VA) 4 $400,000 $100,000 $4,585 3.15%
    Rochelle, IL (FHA|USDA|VA) 2 $390,000 $195,000 $5,106 3.12%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $385,000 $385,000 $9,456 3.63%
    Mount Pleasant, MI (FHA|USDA|VA) 1 $375,000 $375,000 $10,974 4.25%
    Centralia, WA (FHA|USDA|VA) 1 $365,000 $365,000 $3,081 3.38%
    REDDING, CA (FHA|USDA|VA) 1 $365,000 $365,000 $7,268 2.99%
    BILLINGS, MT (FHA|USDA|VA) 1 $345,000 $345,000 $19,616 3.75%
    MEDFORD, OR (FHA|USDA|VA) 1 $345,000 $345,000 $7,107 3.25%
    EL CENTRO, CA (FHA|USDA|VA) 1 $345,000 $345,000 $16,795 2.75%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $335,000 $335,000 $4,441 2.88%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 1 $335,000 $335,000 $9,728 3.63%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $325,000 $325,000 $12,389 3.25%
    TOLEDO, OH (FHA|USDA|VA) 2 $310,000 $155,000 $4,797 2.75%
    FORT WAYNE, IN (FHA|USDA|VA) 1 $305,000 $305,000 $2,037 2.88%
    COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $305,000 $305,000 $13,653 3.25%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $305,000 $305,000 $12,003 5.00%
    LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) 1 $305,000 $305,000 $12,020 2.99%
    Hermiston-Pendleton, OR (FHA|USDA|VA) 1 $295,000 $295,000 $10,260 2.75%
    PUNTA GORDA, FL (FHA|USDA|VA) 2 $290,000 $145,000 $3,495 3.00%
    TYLER, TX (FHA|USDA|VA) 1 $285,000 $285,000 $11,010 2.99%
    SPARTANBURG, SC (FHA|USDA|VA) 1 $275,000 $275,000 $4,837 2.88%
    Escanaba, MI (FHA|USDA|VA) 1 $275,000 $275,000 $3,004 3.25%
    HANFORD-CORCORAN, CA (FHA|USDA|VA) 1 $265,000 $265,000 $9,195 3.25%
    Forest City, NC (FHA|USDA|VA) 1 $265,000 $265,000 $5,384 3.25%
    SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) 1 $265,000 $265,000 $9,429 3.75%
    WARNER ROBINS, GA (FHA|USDA|VA) 2 $260,000 $130,000 $7,673 3.25%
    Whitewater, WI (FHA|USDA|VA) 1 $255,000 $255,000 $4,115 2.88%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $255,000 $255,000 $1,987 3.00%
    WENATCHEE, WA (FHA|USDA|VA) 1 $255,000 $255,000 $10,118 2.75%
    HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 2 $250,000 $125,000 $4,433 3.31%
    APPLETON, WI (FHA|USDA|VA) 1 $235,000 $235,000 $9,460 3.25%
    Sturgis, MI (FHA|USDA|VA) 1 $235,000 $235,000 $9,775 3.00%
    KANKAKEE, IL (FHA|USDA|VA) 1 $225,000 $225,000 $9,003 3.25%
    RALEIGH-CARY, NC (FHA|USDA|VA) 1 $225,000 $225,000 $2,148 3.13%
    JACKSONVILLE, FL (FHA|USDA|VA) 1 $225,000 $225,000 $4,650 2.88%
    KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 1 $225,000 $225,000 $3,452 2.99%
    Americus, GA (FHA|USDA|VA) 2 $220,000 $110,000 $8,535 3.25%
    GULFPORT-BILOXI, MS (FHA|USDA|VA) 1 $215,000 $215,000 $11,921 3.25%
    Concord, NH (FHA|USDA|VA) 1 $215,000 $215,000 $2,562 3.25%
    WILMINGTON, NC (FHA|USDA|VA) 1 $215,000 $215,000 $3,188 2.88%
    TUCSON, AZ (FHA|USDA|VA) 1 $205,000 $205,000 $6,449 3.25%
    Palatka, FL (FHA|USDA|VA) 1 $205,000 $205,000 $12,502 3.25%
    Gardnerville Ranchos, NV (FHA|USDA|VA) 1 $205,000 $205,000 $3,258 2.88%
    SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $205,000 $205,000 $8,614 3.75%
    COLUMBUS, GA-AL (FHA|USDA|VA) 1 $205,000 $205,000 $13,614 3.00%
    Shelby, NC (FHA|USDA|VA) 2 $200,000 $100,000 $3,202 3.19%
    LUBBOCK, TX (FHA|USDA|VA) 1 $195,000 $195,000 $8,915 3.50%
    LONGVIEW, WA (FHA|USDA|VA) 1 $195,000 $195,000 $4,982 3.13%
    ALBANY, GA (FHA|USDA|VA) 1 $195,000 $195,000 $13,045 3.25%
    Cornelia, GA (FHA|USDA|VA) 1 $185,000 $185,000 $12,360 3.00%
    Thomaston, GA (FHA|USDA|VA) 1 $185,000 $185,000 $11,812 3.25%
    DOTHAN, AL (FHA|USDA|VA) 1 $185,000 $185,000 $10,823 3.25%
    GREAT FALLS, MT (FHA|USDA|VA) 1 $185,000 $185,000 $7,257 3.88%
    Cordele, GA (FHA|USDA|VA) 1 $165,000 $165,000 $11,543 3.75%
    Big Rapids, MI (FHA|USDA|VA) 1 $165,000 $165,000 $6,819 2.99%
    HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $165,000 $165,000 $7,055 3.75%
    Waycross, GA (FHA|USDA|VA) 1 $155,000 $155,000 $11,054 3.25%
    ELKHART-GOSHEN, IN (FHA|USDA|VA) 1 $155,000 $155,000 $2,049 3.99%
    Logansport, IN (FHA|USDA|VA) 1 $145,000 $145,000 $6,428 2.99%
    SUMTER, SC (FHA|USDA|VA) 1 $135,000 $135,000 $8,430 3.00%
    Pontiac, IL (FHA|USDA|VA) 1 $135,000 $135,000 $5,486 3.25%
    SYRACUSE, NY (FHA|USDA|VA) 1 $125,000 $125,000 $8,996 2.99%
    WINSTON-SALEM, NC (FHA|USDA|VA) 1 $125,000 $125,000 $2,197 3.75%
    SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $115,000 $115,000 $4,735 3.13%
    Orangeburg, SC (FHA|USDA|VA) 1 $115,000 $115,000 $6,867 3.75%
    LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 1 $115,000 $115,000 $7,591 3.00%
    Athens, TX (FHA|USDA|VA) 1 $115,000 $115,000 $6,739 2.99%
    SAGINAW, MI (FHA|USDA|VA) 1 $105,000 $105,000 $2,877 2.99%
    Arkadelphia, AR (FHA|USDA|VA) 1 $105,000 $105,000 $5,083 3.00%
    EL PASO, TX (FHA|USDA|VA) 1 $105,000 $105,000 $3,879 2.50%
    CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 1 $95,000 $95,000 $2,289 3.38%
    LONGVIEW, TX (FHA|USDA|VA) 1 $85,000 $85,000 $4,673 3.63%
    Ludington, MI (FHA|USDA|VA) 1 $75,000 $75,000 $2,107 2.50%
    Platinum Home Mortgage Corporation's top markets include Detroit, San Francisco, Bakersfield, Chicago, and Riverside among others.

    Their top states include:
  • California (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)
  • Idaho (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 3,524 $930,100,000 $263,933 $5,387 3.00%
    FHA 806 $200,810,000 $249,144 $11,379 3.17%
    VA 118 $41,300,000 $350,000 $10,225 2.99%
    USDA 23 $4,955,000 $215,435 $6,598 2.99%
    FHA 1 $135,000 $135,000 $0 2.46%

    For 2021, Platinum Home Mortgage Corporation's most frequently originated type of loan was Conventional, with 3,524 originations. Their 2nd most popular type was FHA, with 806 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2,377 $654,395,000 $275,303 $7,891 3.09%
    Refi 1,176 $289,910,000 $246,522 $4,639 2.96%
    Cash Out Refi 609 $165,225,000 $271,305 $5,980 3.17%
    Home Improvement 239 $67,305,000 $281,611 $6,388 3.17%
    Other 71 $465,000 $6,549 $309 0.77%

    For 2021, Platinum Home Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 2,377 originations. The 2nd most popular reason was Refi, with 1,176 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 3,790 $1,030,090,000 $271,792 $7,100 3.10%
    15 Year 456 $98,320,000 $215,614 $3,917 2.56%
    20 Year 141 $34,235,000 $242,801 $4,342 2.94%
    10 Year 46 $7,780,000 $169,130 $2,723 2.83%
    Other 24 $5,190,000 $216,250 $3,309 2.97%
    30+ year 10 $1,660,000 $166,000 $10,370 3.35%
    5 Year 5 $25,000 $5,000 $378 0.00%

    For 2021, Platinum Home Mortgage Corporation's most frequently cited loan duration was 30 Year, with 3,790 originations. The 2nd most popular length was 15 Year, with 456 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,475 $346,065,000 $234,620
    $5k+ 1,077 $382,825,000 $355,455
    $2k-3k 620 $146,410,000 $236,145
    $3k-4k 523 $130,855,000 $250,201
    $4k-5k 507 $144,065,000 $284,152
    $<1k 239 $24,455,000 $102,322

    Platinum Home Mortgage Corporation's average total fees were $7,100, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,475 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 2,098 $571,840,000 $272,564
    2.5-3% 1,880 $522,800,000 $278,085
    <2.5% 444 $69,640,000 $156,847
    4-5% 42 $10,750,000 $255,952
    5-6% 3 $1,125,000 $375,000
    6-7% 2 $400,000 $200,000
    7-8% 2 $620,000 $310,000
    Over 8% 1 $125,000 $125,000

    During 2021, Platinum Home Mortgage Corporation's average interest rate for loans was 3.10%, while their most frequently originated rate bucket for loans was 3-4%, with 2,098 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 2,196 $621,040,000 $282,805 $7,071 3.10%
    $100k-200k 1,278 $198,490,000 $155,313 $5,029 3.12%
    $400k-600k 582 $280,300,000 $481,615 $9,381 3.12%
    $100,000 or less 331 $14,975,000 $45,242 $2,451 2.05%
    $600k-1MM 82 $58,800,000 $717,073 $12,838 3.22%
    $1MM+ 3 $3,695,000 $1,231,667 $18,857 3.17%

    2021 saw Platinum Home Mortgage Corporation place emphasis on $200k-400k loans with 2,196 originations, totaling $621,040,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 1,272 $278,520,000 $218,962 $6,638 3.02%
    $75k-100k 974 $259,920,000 $266,858 $6,929 2.97%
    $100k-150k 884 $280,260,000 $317,036 $6,891 3.03%
    $50k or less 725 $117,975,000 $162,724 $5,774 3.10%
    $150k-250k 480 $180,910,000 $376,896 $6,642 3.07%
    $250k+ 130 $58,160,000 $447,385 $7,080 3.09%

    Platinum Home Mortgage Corporation lent most frequently to those with incomes in the $50k-75k range, with 1,272 originations. The second most popular income band? $75k-100k, with 974 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 822 $200,630,000 $244,075 $5,338 2.96%
    30-36% 754 $192,400,000 $255,172 $6,152 3.04%
    <20% 304 $51,270,000 $168,651 $3,878 2.45%
    44% 245 $72,475,000 $295,816 $7,704 3.15%
    42% 220 $62,380,000 $283,545 $6,952 3.14%
    43% 206 $59,210,000 $287,427 $7,078 3.16%
    49% 204 $61,890,000 $303,382 $7,536 3.14%
    50-60% 193 $54,105,000 $280,337 $11,505 3.16%
    40% 184 $54,270,000 $294,946 $7,183 3.08%
    41% 177 $51,255,000 $289,576 $7,468 3.16%
    39% 175 $48,525,000 $277,286 $6,514 3.12%
    38% 168 $46,880,000 $279,048 $6,988 3.10%
    48% 155 $42,535,000 $274,419 $7,103 3.10%
    36% 153 $38,455,000 $251,340 $6,646 3.16%
    37% 153 $43,245,000 $282,647 $6,586 3.12%
    45% 119 $33,835,000 $284,328 $7,590 3.11%
    47% 113 $31,685,000 $280,398 $6,688 3.12%
    46% 98 $29,190,000 $297,857 $8,140 3.14%
    >60% 2 $520,000 $260,000 $7,452 3.00%

    Platinum Home Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 822 originations. The next most common DTI ratio? 30-36%, with 754 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 3,464 $896,040,000 $258,672 $6,458 3.05%
    Not provided 583 $168,475,000 $288,979 $6,907 3.03%
    Asian 245 $72,025,000 $293,980 $7,606 2.83%
    Black 142 $30,920,000 $217,746 $7,694 3.11%
    American Indian 24 $6,860,000 $285,833 $6,806 2.98%
    Native Hawaiian or Islander 11 $1,925,000 $175,000 $6,365 2.25%
    Chinese 1 $385,000 $385,000 $4,619 2.99%
    Filipino 1 $365,000 $365,000 $9,802 2.75%
    Other Asian 1 $305,000 $305,000 $11,403 2.88%

    Approval Rates

    Total approvals of all applications
    99.58%

    Platinum Home Mortgage Corporation has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    73.30%

    Platinum Home Mortgage Corporation has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    209.0 1 $45,000 $45,000
    495.0 1 $45,000 $45,000
    495.12 1 $25,000 $25,000
    645.0 1 $205,000 $205,000
    NA 4,468 $1,176,980,000 $263,424

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    4,472 $1,177,300,000 $263,260

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 164 $30,400,000 $185,366 $4,575 2.87%
    40-60% 659 $163,215,000 $247,671 $4,881 2.95%
    60-80% 1,459 $419,095,000 $287,248 $5,766 3.14%
    80-100% 1,967 $548,355,000 $278,777 $8,242 3.17%
    Over 100% 31 $11,325,000 $365,323 $15,022 3.01%
    Under 20% 192 $4,910,000 $25,573 $1,004 1.23%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    PLATINUM HOME MORTGAGE CORPORATION Conventional home mortgage Trouble during payment process 4 80.0%
    PLATINUM HOME MORTGAGE CORPORATION FHA mortgage Trouble during payment process 1 20.0%