Platinum Home Mortgage Corporation Rates, Fees & Info

Chicago, IL

LEI: 254900D8UVDBN0LNLV64

Tax ID: 43-1653688

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Platinum Home Mortgage Corporation is a smaller mortgage company specializing in Home Purchase 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 by origination volume include: Detroit, Riverside, Los Angeles, Chicago, and Bakersfield among others. We have data for 137 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 an average 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 6.40% 3/28/24
30 Year Conventional Refi 6.74% 3/28/24
30 Year Cash-out Refi 7.13% 3/28/24
30 Year FHA Purchase 7.65% 3/28/24
30 Year FHA Refi 7.40% 3/28/24
30 Year VA Purchase 6.58% 3/28/24
30 Year VA Refi 6.27% 3/28/24
30 Year USDA Purchase 6.66% 3/28/24
30 Year USDA Refi 6.93% 3/28/24
15 Year Conventional Purchase 6.82% 3/28/24
15 Year Conventional Refi 6.14% 3/28/24
15 Year Cash-out Refi 6.14% 3/28/24
15 Year FHA Purchase 5.68% 3/28/24
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.

Platinum Home Mortgage Corporation Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Platinum Home Mortgage Corporation. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

4,203

Origination Dollar Volume (All Markets)

$941,045,000

Awards

Platinum Home Mortgage Corporation VA Loans bronze Platinum Home Mortgage Corporation VA Loans silver Platinum Home Mortgage Corporation FHA Loans silver Platinum Home Mortgage Corporation 30 Year Conventional Loans gold
Show all (4) awards

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) 837 $157,285,000 $187,915 $4,024 4.88%
Outside of Metro Areas 405 $97,465,000 $240,654 $6,021 4.82%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 316 $83,970,000 $265,728 $7,482 4.53%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 207 $76,975,000 $371,860 $8,228 4.58%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 352 $75,620,000 $214,830 $7,939 5.03%
BAKERSFIELD, CA (FHA|USDA|VA) 368 $75,140,000 $204,185 $7,500 4.41%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 232 $60,530,000 $260,905 $5,988 5.24%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 148 $46,120,000 $311,622 $8,990 4.08%
FRESNO, CA (FHA|USDA|VA) 178 $41,480,000 $233,034 $7,637 4.71%
STOCKTON, CA (FHA|USDA|VA) 129 $29,095,000 $225,543 $6,741 4.46%
MODESTO, CA (FHA|USDA|VA) 71 $15,845,000 $223,169 $5,819 4.63%
Pahrump, NV (FHA|USDA|VA) 90 $15,430,000 $171,444 $5,534 5.18%
VISALIA, CA (FHA|USDA|VA) 95 $14,785,000 $155,632 $6,664 4.23%
ROCKFORD, IL (FHA|USDA|VA) 117 $12,575,000 $107,479 $4,811 4.92%
VALLEJO, CA (FHA|USDA|VA) 48 $10,700,000 $222,917 $7,749 3.97%
Outside of Metro Areas 63 $10,125,000 $160,714 $4,358 4.92%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 33 $9,165,000 $277,727 $7,339 4.83%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 32 $7,950,000 $248,438 $7,104 4.82%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 11 $6,885,000 $625,909 $12,127 4.28%
Sandpoint, ID (FHA|USDA|VA) 25 $6,665,000 $266,600 $5,517 4.71%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 40 $6,210,000 $155,250 $4,959 5.13%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 31 $5,635,000 $181,774 $4,813 4.96%
Moscow, ID (FHA|USDA|VA) 25 $5,565,000 $222,600 $5,087 4.50%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 9 $5,265,000 $585,000 $19,176 5.23%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 19 $4,445,000 $233,947 $7,599 4.96%
LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 32 $4,030,000 $125,938 $5,512 5.27%
MERCED, CA (FHA|USDA|VA) 16 $4,020,000 $251,250 $7,005 4.70%
FLINT, MI (FHA|USDA|VA) 17 $3,195,000 $187,941 $4,963 4.90%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 6 $2,460,000 $410,000 $10,907 5.00%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 4 $1,980,000 $495,000 $13,512 4.91%
MADERA, CA (FHA|USDA|VA) 11 $1,905,000 $173,182 $7,245 4.63%
ELKHART-GOSHEN, IN (FHA|USDA|VA) 13 $1,695,000 $130,385 $5,138 5.72%
MONROE, MI (FHA|USDA|VA) 9 $1,475,000 $163,889 $4,130 4.92%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 8 $1,320,000 $165,000 $6,371 4.88%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 5 $1,225,000 $245,000 $8,779 4.90%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 3 $1,185,000 $395,000 $5,242 5.13%
TULSA, OK (FHA|USDA|VA) 7 $1,135,000 $162,143 $5,535 4.89%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 7 $1,105,000 $157,857 $5,440 4.70%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 2 $1,090,000 $545,000 $14,645 4.81%
ANN ARBOR, MI (FHA|USDA|VA) 6 $970,000 $161,667 $4,568 5.13%
Rochelle, IL (FHA|USDA|VA) 7 $955,000 $136,429 $4,968 4.39%
YUBA CITY, CA (FHA|USDA|VA) 10 $930,000 $93,000 $5,842 3.28%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 4 $860,000 $215,000 $6,876 5.03%
HANFORD-CORCORAN, CA (FHA|USDA|VA) 3 $845,000 $281,667 $8,193 5.21%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $845,000 $845,000 $2,398 5.63%
Truckee-Grass Valley, CA (FHA|USDA|VA) 3 $835,000 $278,333 $9,434 4.83%
Freeport, IL (FHA|USDA|VA) 8 $820,000 $102,500 $4,710 4.98%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 3 $795,000 $265,000 $12,570 5.04%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 1 $735,000 $735,000 $8,175 5.13%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 4 $700,000 $175,000 $6,264 5.03%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 2 $690,000 $345,000 $6,916 4.69%
RALEIGH-CARY, NC (FHA|USDA|VA) 2 $670,000 $335,000 $7,647 5.06%
Pullman, WA (FHA|USDA|VA) 3 $635,000 $211,667 $7,067 4.71%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 2 $620,000 $310,000 $9,054 4.88%
GREELEY, CO (FHA|USDA|VA) 1 $605,000 $605,000 $21,955 6.75%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 4 $550,000 $137,500 $4,022 4.06%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 3 $545,000 $181,667 $4,339 4.92%
TALLAHASSEE, FL (FHA|USDA|VA) 2 $540,000 $270,000 $11,828 5.25%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 3 $505,000 $168,333 $5,804 4.88%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 1 $505,000 $505,000 $16,646 4.75%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $465,000 $465,000 $5,280 5.25%
Hillsdale, MI (FHA|USDA|VA) 1 $455,000 $455,000 $2,558 4.25%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 3 $445,000 $148,333 $6,001 4.88%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 4 $440,000 $110,000 $3,655 5.50%
BATTLE CREEK, MI (FHA|USDA|VA) 2 $430,000 $215,000 $6,280 4.69%
Shelby, NC (FHA|USDA|VA) 3 $425,000 $141,667 $5,021 5.21%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 2 $400,000 $200,000 $7,573 5.13%
LEWISTON, ID-WA (FHA|USDA|VA) 1 $395,000 $395,000 $2,521 5.00%
Cullman, AL (FHA|USDA|VA) 1 $395,000 $395,000 $12,990 5.00%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $375,000 $375,000 $4,355 5.38%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 2 $370,000 $185,000 $5,815 4.38%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $365,000 $365,000 $4,644 4.63%
HUNTSVILLE, AL (FHA|USDA|VA) 2 $350,000 $175,000 $5,851 4.94%
Newberry, SC (FHA|USDA|VA) 2 $340,000 $170,000 $7,669 5.25%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $335,000 $335,000 $7,707 4.75%
MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 1 $325,000 $325,000 $2,894 5.38%
Starkville, MS (FHA|USDA|VA) 1 $325,000 $325,000 $8,074 5.13%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $310,000 $155,000 $4,894 5.00%
Sonora, CA (FHA|USDA|VA) 2 $310,000 $155,000 $5,877 4.88%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 2 $310,000 $155,000 $8,220 4.88%
Oak Harbor, WA (FHA|USDA|VA) 1 $295,000 $295,000 $11,041 5.50%
Logansport, IN (FHA|USDA|VA) 3 $285,000 $95,000 $4,814 5.42%
Crossville, TN (FHA|USDA|VA) 2 $280,000 $140,000 $9,123 4.81%
SPARTANBURG, SC (FHA|USDA|VA) 1 $275,000 $275,000 $5,520 4.00%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $275,000 $275,000 $7,100 4.88%
Whitewater, WI (FHA|USDA|VA) 2 $270,000 $135,000 $2,697 4.63%
Big Rapids, MI (FHA|USDA|VA) 2 $270,000 $135,000 $2,763 4.50%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 2 $270,000 $135,000 $6,837 4.81%
Concord, NH (FHA|USDA|VA) 1 $255,000 $255,000 $3,123 4.75%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $255,000 $255,000 $4,175 4.63%
FLORENCE, SC (FHA|USDA|VA) 3 $255,000 $85,000 $3,710 5.08%
JACKSON, MI (FHA|USDA|VA) 2 $250,000 $125,000 $2,940 4.88%
Red Bluff, CA (FHA|USDA|VA) 2 $250,000 $125,000 $5,340 4.81%
Bartlesville, OK (FHA|USDA|VA) 1 $245,000 $245,000 $7,230 5.13%
MOBILE, AL (FHA|USDA|VA) 2 $240,000 $120,000 $3,874 5.06%
Seneca, SC (FHA|USDA|VA) 1 $235,000 $235,000 $3,096 4.75%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 2 $220,000 $110,000 $4,524 5.31%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $205,000 $205,000 $8,794 5.25%
DOTHAN, AL (FHA|USDA|VA) 1 $195,000 $195,000 $6,356 4.50%
TUSCALOOSA, AL (FHA|USDA|VA) 1 $185,000 $185,000 $5,945 4.88%
Greensburg, IN (FHA|USDA|VA) 1 $185,000 $185,000 $4,498 5.75%
Frankfort, IN (FHA|USDA|VA) 3 $185,000 $61,667 $3,443 5.00%
Sault Ste. Marie, MI (FHA|USDA|VA) 1 $185,000 $185,000 $6,391 5.25%
Traverse City, MI (FHA|USDA|VA) 1 $175,000 $175,000 $3,954 4.75%
COLUMBIA, SC (FHA|USDA|VA) 2 $170,000 $85,000 $4,759 5.38%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $165,000 $165,000 $5,664 4.75%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $165,000 $165,000 $8,201 5.88%
SPRINGFIELD, MO (FHA|USDA|VA) 1 $165,000 $165,000 $4,672 4.88%
Granbury, TX (FHA|USDA|VA) 1 $155,000 $155,000 $3,294 4.63%
Crawfordsville, IN (FHA|USDA|VA) 2 $150,000 $75,000 $5,393 5.31%
Payson, AZ (FHA|USDA|VA) 1 $145,000 $145,000 $5,080 4.38%
WENATCHEE, WA (FHA|USDA|VA) 1 $145,000 $145,000 $7,581 5.13%
SUMTER, SC (FHA|USDA|VA) 1 $135,000 $135,000 $5,922 4.88%
Dixon, IL (FHA|USDA|VA) 1 $135,000 $135,000 $6,199 5.25%
Forest City, NC (FHA|USDA|VA) 1 $125,000 $125,000 $6,187 4.63%
PANAMA CITY, FL (FHA|USDA|VA) 1 $125,000 $125,000 $5,793 5.25%
Georgetown, SC (FHA|USDA|VA) 1 $125,000 $125,000 $6,753 5.50%
BATON ROUGE, LA (FHA|USDA|VA) 1 $125,000 $125,000 $5,976 4.75%
EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 1 $115,000 $115,000 $5,714 5.25%
NILES, MI (FHA|USDA|VA) 1 $115,000 $115,000 $3,278 4.88%
Cadillac, MI (FHA|USDA|VA) 1 $115,000 $115,000 $2,516 5.00%
KOKOMO, IN (FHA|USDA|VA) 1 $115,000 $115,000 $4,316 4.38%
Kalispell, MT (FHA|USDA|VA) 1 $115,000 $115,000 $2,916 5.38%
ASHEVILLE, NC (FHA|USDA|VA) 1 $115,000 $115,000 $3,030 4.88%
MIDLAND, MI (FHA|USDA|VA) 1 $105,000 $105,000 $2,625 5.13%
BOISE CITY, ID (FHA|USDA|VA) 1 $105,000 $105,000 $5,567 5.25%
GREAT FALLS, MT (FHA|USDA|VA) 1 $105,000 $105,000 $5,139 4.00%
OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $95,000 $95,000 $6,227 5.50%
JANESVILLE-BELOIT, WI (FHA|USDA|VA) 1 $95,000 $95,000 $2,874 4.75%
ST. LOUIS, MO-IL (FHA|USDA|VA) 2 $90,000 $45,000 $4,818 4.38%
KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 1 $85,000 $85,000 $3,005 5.38%
Cookeville, TN (FHA|USDA|VA) 1 $85,000 $85,000 $5,542 5.25%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $85,000 $85,000 $3,292 5.88%
FARGO, ND-MN (FHA|USDA|VA) 1 $75,000 $75,000 $4,326 5.38%
CEDAR RAPIDS, IA (FHA|USDA|VA) 1 $75,000 $75,000 $2,574 4.75%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $65,000 $65,000 $4,763 4.50%
Del Rio, TX (FHA|USDA|VA) 1 $55,000 $55,000 $1,862 4.00%
Platinum Home Mortgage Corporation's top markets include Detroit, Riverside, Los Angeles, Chicago, and Bakersfield among others.

Their top states include:
  • California (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)
  • Idaho (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Nevada (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Platinum Home Mortgage Corporation based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

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    FIRST NORTHERN Credit Union
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,782 $625,630,000 $224,885 $5,088 4.70%
    FHA 1,153 $249,335,000 $216,249 $9,290 4.90%
    VA 209 $55,115,000 $263,708 $6,158 4.81%
    USDA 59 $10,965,000 $185,847 $6,022 4.73%

    For 2018, Platinum Home Mortgage Corporation's most frequently originated type of loan was Conventional, with 2,782 originations. Their 2nd most popular type was FHA, with 1,153 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 3,569 $782,535,000 $219,259 $6,384 4.73%
    Refi 616 $153,740,000 $249,578 $5,916 4.93%
    Cash Out Refi 16 $4,260,000 $266,250 $7,469 4.93%
    Home Improvement 2 $510,000 $255,000 $7,352 5.00%

    For 2018, Platinum Home Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 3,569 originations. The 2nd most popular reason was Refi, with 616 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 3,967 $901,015,000 $227,128 $6,457 4.77%
    15 Year 131 $26,295,000 $200,725 $4,603 4.37%
    20 Year 49 $9,285,000 $189,490 $4,735 4.80%
    10 Year 44 $2,140,000 $48,636 $1,384 5.31%
    5 Year 8 $40,000 $5,000 $349 0.00%
    30+ year 3 $2,115,000 $705,000 $15,772 6.16%
    Other 1 $155,000 $155,000 $1,500 7.50%

    For 2018, Platinum Home Mortgage Corporation's most frequently cited loan duration was 30 Year, with 3,967 originations. The 2nd most popular length was 15 Year, with 131 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,414 $291,360,000 $206,054
    $5k+ 693 $237,455,000 $342,648
    $3k-4k 642 $146,810,000 $228,676
    $2k-3k 612 $128,120,000 $209,346
    $<1k 513 $50,775,000 $98,977
    $4k-5k 328 $86,230,000 $262,896

    Platinum Home Mortgage Corporation's average total fees were $6,457, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,414 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 2,358 $579,390,000 $245,712
    5-6% 1,368 $309,170,000 $226,001
    <2.5% 249 $2,265,000 $9,096
    3-4% 115 $31,765,000 $276,217
    6-7% 59 $12,525,000 $212,288
    7-8% 14 $3,840,000 $274,286
    Over 8% 7 $1,805,000 $257,857

    During 2018, Platinum Home Mortgage Corporation's average interest rate for loans was 4.77%, while their most frequently originated rate bucket for loans was 4-5%, with 2,358 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,964 $540,760,000 $275,336 $7,476 4.92%
    $100k-200k 1,303 $199,135,000 $152,828 $5,308 4.97%
    $100,000 or less 602 $24,900,000 $41,362 $2,093 3.63%
    $400k-600k 273 $125,755,000 $460,641 $9,926 4.90%
    $600k-1MM 51 $36,175,000 $709,314 $14,050 4.99%
    $1MM+ 10 $14,320,000 $1,432,000 $24,049 4.87%

    2018 saw Platinum Home Mortgage Corporation place emphasis on $200k-400k loans with 1,964 originations, totaling $540,760,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 1,354 $259,780,000 $191,861 $6,142 4.67%
    $50k or less 898 $125,480,000 $139,733 $5,354 4.83%
    $75k-100k 849 $200,335,000 $235,966 $6,483 4.68%
    $100k-150k 718 $210,090,000 $292,604 $7,244 4.82%
    $150k-250k 281 $96,695,000 $344,110 $6,673 4.95%
    $250k+ 96 $47,440,000 $494,167 $8,387 4.99%

    Platinum Home Mortgage Corporation lent most frequently to those with incomes in the $50k-75k range, with 1,354 originations. The second most popular income band? $50k or less, with 898 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 700 $136,480,000 $194,971 $4,979 4.45%
    20-30% 492 $93,950,000 $190,955 $4,963 4.65%
    50-60% 340 $83,230,000 $244,794 $9,036 4.85%
    49% 245 $61,255,000 $250,020 $6,667 4.99%
    44% 240 $60,680,000 $252,833 $8,520 4.99%
    43% 212 $46,590,000 $219,764 $6,767 4.86%
    42% 189 $45,445,000 $240,450 $6,795 4.87%
    48% 183 $46,505,000 $254,126 $7,112 4.98%
    40% 173 $40,245,000 $232,630 $6,332 4.85%
    41% 173 $41,775,000 $241,474 $6,588 4.91%
    47% 168 $42,630,000 $253,750 $7,011 4.91%
    45% 163 $37,655,000 $231,012 $6,255 4.90%
    46% 163 $37,945,000 $232,791 $6,334 4.89%
    36% 158 $36,220,000 $229,241 $5,709 4.63%
    39% 155 $35,255,000 $227,452 $5,862 4.71%
    38% 146 $30,300,000 $207,534 $5,714 4.71%
    37% 144 $30,900,000 $214,583 $6,530 4.79%
    <20% 131 $27,705,000 $211,489 $4,713 4.53%
    >60% 24 $5,190,000 $216,250 $6,450 4.30%

    Platinum Home Mortgage Corporation lent most frequently to those with DTI ratios of 30-36%, with 700 originations. The next most common DTI ratio? 20-30%, with 492 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 3,524 $766,880,000 $217,616 $6,080 4.76%
    Asian 330 $98,360,000 $298,061 $8,301 4.99%
    Not provided 145 $34,915,000 $240,793 $7,429 4.46%
    Black 176 $34,490,000 $195,966 $6,720 4.55%
    Native Hawaiian or Islander 17 $5,035,000 $296,176 $5,071 5.14%
    American Indian 11 $1,365,000 $124,091 $5,437 3.63%

    Approval Rates

    Total approvals of all applications
    98.73%

    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
    68.95%

    Platinum Home Mortgage Corporation has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 4,203 $941,045,000 $223,898

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 73 $10,365,000 $141,986
    Single Family (1-4 Units):Site-Built 4,130 $930,680,000 $225,346

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 90 $15,530,000 $172,556 $5,082 4.82%
    40-60% 218 $49,520,000 $227,156 $5,689 4.78%
    60-80% 908 $236,530,000 $260,496 $5,740 4.97%
    80-100% 2,612 $622,030,000 $238,143 $7,256 4.96%
    Over 100% 52 $13,750,000 $264,423 $9,435 4.89%
    Under 20% 322 $3,480,000 $10,807 $349 2.24%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    PLATINUM HOME MORTGAGE CORPORATION FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    PLATINUM HOME MORTGAGE CORPORATION FHA mortgage Trouble during payment process 1 50.0%