Platinum Home Mortgage Corporation Rates, Fees & Info
Chicago, ILLEI: 254900D8UVDBN0LNLV64
Tax ID: 43-1653688
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Mortgage Data
Review & Overview
Platinum Home Mortgage Corporation is a smaller 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 by origination volume include: Detroit, Chicago, Bakersfield, San Francisco, and Riverside among others. We have data for 119 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.40% | 4/18/24 |
| 30 Year Conventional Refi | 6.74% | 4/18/24 |
| 30 Year Cash-out Refi | 7.13% | 4/18/24 |
| 30 Year FHA Purchase | 7.65% | 4/18/24 |
| 30 Year FHA Refi | 7.40% | 4/18/24 |
| 30 Year VA Purchase | 6.58% | 4/18/24 |
| 30 Year VA Refi | 6.27% | 4/18/24 |
| 30 Year USDA Purchase | 6.66% | 4/18/24 |
| 30 Year USDA Refi | 6.93% | 4/18/24 |
| 15 Year Conventional Purchase | 6.82% | 4/18/24 |
| 15 Year Conventional Refi | 6.14% | 4/18/24 |
| 15 Year Cash-out Refi | 6.14% | 4/18/24 |
| 15 Year FHA Purchase | 5.68% | 4/18/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
4,355Origination Dollar Volume (All Markets)
$976,585,000Awards
Platinum Home Mortgage Corporation - 2019
Platinum Home Mortgage Corporation is a 2019 , due to their low .
For 2019, less than of lenders were eligible for this award.
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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) | 1,022 | $211,220,000 | $206,673 | $3,930 | 4.23% |
| Outside of Metro Areas | 440 | $110,850,000 | $251,932 | $6,143 | 4.20% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 451 | $104,335,000 | $231,341 | $7,397 | 4.36% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 337 | $72,515,000 | $215,178 | $7,797 | 4.04% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 196 | $69,190,000 | $353,010 | $9,908 | 3.82% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 200 | $52,260,000 | $261,300 | $6,909 | 3.89% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 117 | $30,825,000 | $263,462 | $7,028 | 4.63% |
| STOCKTON, CA (FHA|USDA|VA) | 126 | $29,560,000 | $234,603 | $7,385 | 3.77% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 68 | $26,150,000 | $384,559 | $7,794 | 4.18% |
| FRESNO, CA (FHA|USDA|VA) | 175 | $25,975,000 | $148,429 | $5,821 | 3.32% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 112 | $25,960,000 | $231,786 | $6,940 | 3.69% |
| VISALIA, CA (FHA|USDA|VA) | 148 | $20,620,000 | $139,324 | $5,685 | 3.49% |
| Pahrump, NV (FHA|USDA|VA) | 74 | $16,100,000 | $217,568 | $6,457 | 4.77% |
| VALLEJO, CA (FHA|USDA|VA) | 60 | $15,990,000 | $266,500 | $8,065 | 3.53% |
| ROCKFORD, IL (FHA|USDA|VA) | 150 | $14,920,000 | $99,467 | $4,699 | 3.73% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 26 | $14,670,000 | $564,231 | $10,757 | 4.75% |
| MODESTO, CA (FHA|USDA|VA) | 64 | $13,880,000 | $216,875 | $6,321 | 4.15% |
| Outside of Metro Areas | 63 | $11,685,000 | $185,476 | $4,790 | 4.36% |
| Sandpoint, ID (FHA|USDA|VA) | 37 | $8,395,000 | $226,892 | $5,643 | 4.29% |
| FLINT, MI (FHA|USDA|VA) | 39 | $8,365,000 | $214,487 | $5,717 | 4.19% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 45 | $8,175,000 | $181,667 | $6,566 | 4.60% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 41 | $8,005,000 | $195,244 | $4,716 | 4.40% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 28 | $7,870,000 | $281,071 | $7,047 | 4.58% |
| Moscow, ID (FHA|USDA|VA) | 32 | $6,450,000 | $201,563 | $4,909 | 4.19% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 43 | $5,675,000 | $131,977 | $5,576 | 4.18% |
| ANN ARBOR, MI (FHA|USDA|VA) | 16 | $4,740,000 | $296,250 | $4,826 | 4.01% |
| MERCED, CA (FHA|USDA|VA) | 14 | $3,970,000 | $283,571 | $7,136 | 4.83% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 10 | $2,900,000 | $290,000 | $6,285 | 4.17% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 7 | $2,805,000 | $400,714 | $10,033 | 4.12% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 5 | $2,525,000 | $505,000 | $6,991 | 4.02% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 10 | $2,490,000 | $249,000 | $4,366 | 4.16% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 5 | $2,255,000 | $451,000 | $13,240 | 4.55% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 11 | $1,695,000 | $154,091 | $3,590 | 4.25% |
| MADERA, CA (FHA|USDA|VA) | 11 | $1,545,000 | $140,455 | $5,075 | 3.38% |
| Traverse City, MI (FHA|USDA|VA) | 5 | $1,465,000 | $293,000 | $3,168 | 4.33% |
| HANFORD-CORCORAN, CA (FHA|USDA|VA) | 7 | $1,345,000 | $192,143 | $7,352 | 3.70% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 8 | $1,190,000 | $148,750 | $5,472 | 4.34% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 3 | $1,155,000 | $385,000 | $6,456 | 4.83% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 4 | $1,150,000 | $287,500 | $9,019 | 4.68% |
| Pullman, WA (FHA|USDA|VA) | 4 | $900,000 | $225,000 | $6,347 | 3.94% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 3 | $845,000 | $281,667 | $12,467 | 4.83% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 4 | $800,000 | $200,000 | $3,193 | 3.03% |
| YUBA CITY, CA (FHA|USDA|VA) | 5 | $775,000 | $155,000 | $6,741 | 3.62% |
| Rochelle, IL (FHA|USDA|VA) | 7 | $775,000 | $110,714 | $4,616 | 3.46% |
| TULSA, OK (FHA|USDA|VA) | 5 | $755,000 | $151,000 | $6,781 | 4.83% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 3 | $745,000 | $248,333 | $8,416 | 4.71% |
| RENO, NV (FHA|USDA|VA) | 2 | $700,000 | $350,000 | $8,275 | 5.06% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 3 | $575,000 | $191,667 | $4,901 | 4.25% |
| Freeport, IL (FHA|USDA|VA) | 10 | $540,000 | $54,000 | $3,517 | 4.05% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $4,241 | 3.44% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 3 | $485,000 | $161,667 | $3,375 | 3.87% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $18,767 | 3.99% |
| Frankfort, IN (FHA|USDA|VA) | 4 | $450,000 | $112,500 | $5,057 | 4.69% |
| SALINAS, CA (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $7,721 | 4.88% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $5,193 | 4.37% |
| ELKHART-GOSHEN, IN (FHA|USDA|VA) | 4 | $440,000 | $110,000 | $4,656 | 4.16% |
| Hillsdale, MI (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $3,761 | 3.88% |
| LEWISTON, ID-WA (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $5,203 | 3.69% |
| Crawfordsville, IN (FHA|USDA|VA) | 3 | $415,000 | $138,333 | $5,206 | 4.91% |
| REDDING, CA (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $6,847 | 3.44% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $11,736 | 4.99% |
| Kalispell, MT (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $14,278 | 3.75% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $4,938 | 3.99% |
| OCALA, FL (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $12,927 | 4.75% |
| BOISE CITY, ID (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $13,188 | 5.75% |
| MONROE, MI (FHA|USDA|VA) | 3 | $365,000 | $121,667 | $4,468 | 4.37% |
| GREELEY, CO (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $7,785 | 4.99% |
| MEDFORD, OR (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $12,082 | 5.50% |
| Rexburg, ID (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $5,970 | 5.13% |
| Adrian, MI (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $3,473 | 4.13% |
| JACKSON, MI (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $3,350 | 4.25% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,893 | 3.99% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $4,817 | 3.75% |
| Sonora, CA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $9,022 | 4.13% |
| IDAHO FALLS, ID (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $5,489 | 4.69% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $3,729 | 4.06% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $11,841 | 4.00% |
| JANESVILLE-BELOIT, WI (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $7,181 | 4.44% |
| MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $4,698 | 3.63% |
| Red Bluff, CA (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $5,388 | 4.50% |
| Bozeman, MT (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $6,153 | 3.99% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $2,874 | 4.50% |
| FLORENCE, SC (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $5,245 | 3.87% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $4,949 | 3.88% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,534 | 4.00% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,925 | 4.25% |
| SUMTER, SC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $9,091 | 4.63% |
| Big Rapids, MI (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $2,627 | 4.00% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $7,291 | 4.38% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $5,370 | 3.88% |
| WALLA WALLA, WA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $5,031 | 4.50% |
| Concord, NH (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $7,596 | 5.50% |
| Shelby, NC (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $5,276 | 6.75% |
| Susanville, CA (FHA|USDA|VA) | 3 | $195,000 | $65,000 | $3,549 | 2.21% |
| MUSKEGON, MI (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $5,350 | 4.88% |
| SHEBOYGAN, WI (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $3,534 | 4.94% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,525 | 4.50% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,854 | 3.88% |
| GREENVILLE, NC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,839 | 4.63% |
| Ottawa, IL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,275 | 3.88% |
| GAINESVILLE, GA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,055 | 3.75% |
| Blackfoot, ID (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,943 | 4.38% |
| Marinette, WI-MI (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,934 | 5.13% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,913 | 4.38% |
| MIDLAND, MI (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,591 | 5.13% |
| FORT WAYNE, IN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,222 | 3.88% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,363 | 3.00% |
| BAY CITY, MI (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,236 | 4.38% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,109 | 5.50% |
| Scottsburg, IN (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $6,238 | 5.13% |
| Whitewater, WI (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,809 | 4.50% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $6,799 | 5.00% |
| Thomasville, GA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $5,301 | 5.88% |
| Georgetown, SC (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $5,522 | 4.13% |
| Fernley, NV (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $5,446 | 5.00% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $4,852 | 3.25% |
| Sterling, IL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $4,991 | 4.63% |
| EL PASO, TX (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,480 | 4.50% |
| KOKOMO, IN (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $3,996 | 5.13% |
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Product Mix
For 2019, Platinum Home Mortgage Corporation's most frequently originated type of loan was Conventional, with 3,043 originations. Their 2nd most popular type was FHA, with 1,103 originations.
Loan Reason
For 2019, Platinum Home Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 3,000 originations. The 2nd most popular reason was Refi, with 1,331 originations.
Loan Duration/Length
For 2019, Platinum Home Mortgage Corporation's most frequently cited loan duration was 30 Year, with 3,881 originations. The 2nd most popular length was 15 Year, with 252 originations.
Origination Fees/Closing Costs
Platinum Home Mortgage Corporation's average total fees were $6,436, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,390 originations.
Interest Rates
During 2019, Platinum Home Mortgage Corporation's average interest rate for loans was 4.16%, while their most frequently originated rate bucket for loans was 3-4%, with 1,895 originations.
Loan Sizing
2019 saw Platinum Home Mortgage Corporation place emphasis on $200k-400k loans with 2,041 originations, totaling $557,125,000 in origination value.
Applicant Income
Platinum Home Mortgage Corporation lent most frequently to those with incomes in the $50k-75k range, with 1,266 originations. The second most popular income band? $100k-150k, with 900 originations.
Applicant Debt to Income Ratio
Platinum Home Mortgage Corporation lent most frequently to those with DTI ratios of 30-36%, with 837 originations. The next most common DTI ratio? 20-30%, with 717 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.99%
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 origination71.78%
Platinum Home Mortgage Corporation has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 4,355 | $976,585,000 | $224,245 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 69 | $10,945,000 | $158,623 |
| Single Family (1-4 Units):Site-Built | 4,286 | $965,640,000 | $225,301 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| PLATINUM HOME MORTGAGE CORPORATION | Conventional home mortgage | Struggling to pay mortgage | 1 | 50.0% |
| PLATINUM HOME MORTGAGE CORPORATION | Conventional home mortgage | Trouble during payment process | 1 | 50.0% |