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

2021 Data | 2020 Data | 2019 Data | 2018 Data


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. Their top markets include Detroit, San Francisco, Bakersfield, Chicago, and Riverside among others. Platinum Home Mortgage Corporation has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Platinum Home Mortgage Corporation is typically a high fee lendor.


Originations

4,472

Origination Dollar Volume (All Markets)

$1,177,300,000

Relative Rate

Platinum Home Mortgage Corporation's average 30 year fixed rate mortgage of loans were 3.1%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.05%.

Relative Fees

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

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

Top Markets

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.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 3,524 $930,100,000 $263,933 $5,387 3.00%
FHA 807 $200,945,000 $249,002 $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%

For the 2021 period, Platinum Home Mortgage Corporation's most frequently originated loan type of loans were Conventional, with 3,524 originations. Their 2nd most popular type is FHA, with 807 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average 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 the 2021, Platinum Home Mortgage Corporation's most frequently cited loan purpose of loans were Home Purchase, with 2,377 originations. The 2nd most popular reason of loans were 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 the 2021, Platinum Home Mortgage Corporation's most frequently cited loan length of loans were 30 Year, with 3,790 originations. The 2nd most popular length of loans were 15 Year, with 456 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 1,475 $346,065,000 $234,620
$5k+ 1,077 $382,825,000 $355,455
$3k-4k 1,030 $274,920,000 $266,913
$2k-3k 620 $146,410,000 $236,145
$<1k 239 $24,455,000 $102,322

$7,100 of loans were Platinum Home Mortgage Corporation's average total fees, while their most frequently occuring range of origination fees 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 of loans were 3.10%, while their most frequently originated rate bucket of loans were 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 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
99.21%

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
72.29%

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%