Premium Mortgage Corporation Rates, Fees & Info

Rochester, NY

LEI: 254900XN7UWEWK13RO81

Tax ID: 16-1566654

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Premium Mortgage Corporation is a smaller mortgage company specializing in Home Purchase loans. Premium 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: Rochester, Buffalo, Albany, Batavia, and Syracuse among others. We have data for 39 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Premium 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. Premium Mortgage Corporation is typically a low 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 6.63% 12/16/24
    30 Year Conventional Refi 6.51% 12/16/24
    30 Year Cash-out Refi 6.66% 12/16/24
    30 Year FHA Purchase 7.54% 12/16/24
    30 Year FHA Refi 7.31% 12/16/24
    30 Year VA Purchase 6.55% 12/16/24
    30 Year VA Refi 6.65% 12/16/24
    30 Year USDA Purchase 6.85% 12/16/24
    15 Year Conventional Purchase 6.17% 12/16/24
    15 Year Conventional Refi 6.01% 12/16/24
    15 Year Cash-out Refi 6.01% 12/16/24
    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.

    Premium Mortgage Corporation Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Premium 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

    3,589

    Origination Dollar Volume (All Markets)

    $589,625,000
    Show all (20) 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
    ROCHESTER, NY (FHA|USDA|VA) 1,726 $273,090,000 $158,221 $3,223 4.62%
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 1,357 $240,115,000 $176,945 $3,476 4.67%
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 88 $17,540,000 $199,318 $3,469 4.66%
    Batavia, NY (FHA|USDA|VA) 111 $14,905,000 $134,279 $3,115 4.69%
    SYRACUSE, NY (FHA|USDA|VA) 106 $14,200,000 $133,962 $2,851 4.54%
    Outside of Metro Areas 62 $9,050,000 $145,968 $3,025 4.70%
    Olean, NY (FHA|USDA|VA) 21 $2,755,000 $131,190 $2,603 4.73%
    UTICA-ROME, NY (FHA|USDA|VA) 24 $2,660,000 $110,833 $2,812 4.74%
    Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) 19 $2,435,000 $128,158 $2,559 4.82%
    Corning, NY (FHA|USDA|VA) 20 $2,120,000 $106,000 $1,836 4.79%
    GLENS FALLS, NY (FHA|USDA|VA) 10 $1,980,000 $198,000 $3,697 4.58%
    Barre, VT (FHA|USDA|VA) 4 $1,040,000 $260,000 $5,007 4.56%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 3 $1,005,000 $335,000 $3,763 4.67%
    Seneca Falls, NY (FHA|USDA|VA) 4 $760,000 $190,000 $4,343 4.50%
    Auburn, NY (FHA|USDA|VA) 3 $655,000 $218,333 $4,495 4.63%
    BINGHAMTON, NY (FHA|USDA|VA) 3 $495,000 $165,000 $4,634 4.71%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $470,000 $235,000 $6,153 4.00%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 1 $315,000 $315,000 $7,008 4.50%
    PITTSBURGH, PA (FHA|USDA|VA) 1 $295,000 $295,000 $8,422 4.25%
    Cortland, NY (FHA|USDA|VA) 2 $290,000 $145,000 $4,396 4.25%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $285,000 $285,000 $5,347 3.75%
    THE VILLAGES, FL (FHA|USDA|VA) 1 $265,000 $265,000 $3,012 4.50%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 2 $250,000 $125,000 $4,588 4.63%
    ELMIRA, NY (FHA|USDA|VA) 1 $235,000 $235,000 $2,785 4.38%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $225,000 $225,000 $4,391 5.50%
    Amsterdam, NY (FHA|USDA|VA) 2 $220,000 $110,000 $3,492 5.06%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $215,000 $215,000 $4,608 4.50%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $205,000 $205,000 $3,256 5.63%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $185,000 $185,000 $5,027 4.38%
    Lebanon, NH-VT (FHA|USDA|VA) 1 $175,000 $175,000 $5,878 4.00%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $175,000 $175,000 $47 5.75%
    Hudson, NY (FHA|USDA|VA) 1 $165,000 $165,000 $2,935 5.50%
    Arcadia, FL (FHA|USDA|VA) 1 $165,000 $165,000 $2,553 4.50%
    Oneonta, NY (FHA|USDA|VA) 2 $160,000 $80,000 $2,000 4.38%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $155,000 $155,000 $3,568 4.00%
    AKRON, OH (FHA|USDA|VA) 1 $135,000 $135,000 $450 4.50%
    Rutland, VT (FHA|USDA|VA) 1 $115,000 $115,000 $2,027 4.75%
    EAST STROUDSBURG, PA (FHA|USDA|VA) 1 $75,000 $75,000 $3,188 5.25%
    Bradford, PA (FHA|USDA|VA) 1 $45,000 $45,000 $2,907 5.25%
    Premium Mortgage Corporation's top markets include Rochester, Buffalo, Albany, Batavia, and Syracuse among others.

    Their top states include:
  • New York (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Vermont (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)

    • Similar Lenders

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

    FIRST HERITAGE FEDERAL CREDIT UNION
    Similarity Rank: 36
    Pittsford Federal Credit Union
    Similarity Rank: 44
    SECNY Federal Credit Union
    Similarity Rank: 44
    GREATER WOODLAWN FEDERAL CREDIT UNION
    Similarity Rank: 48
    ONTARIO SHORES
    Similarity Rank: 52
    Geddes Federal Savings and Loan Association
    Similarity Rank: 60
    Saratoga National Bank and Trust Company
    Similarity Rank: 80
    COUNTRYSIDE Federal Credit Union
    Similarity Rank: 84
    National Union Bank of Kinderhook
    Similarity Rank: 96
    Adirondack Bank
    Similarity Rank: 126

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,436 $414,390,000 $170,111 $3,083 4.69%
    FHA 831 $118,545,000 $142,653 $3,887 4.55%
    VA 212 $44,490,000 $209,858 $4,187 4.50%
    USDA 110 $12,200,000 $110,909 $2,019 4.69%

    For 2018, Premium Mortgage Corporation's most frequently originated type of loan was Conventional, with 2,436 originations. Their 2nd most popular type was FHA, with 831 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 3,460 $567,450,000 $164,003 $3,296 4.65%
    Refi 84 $15,180,000 $180,714 $3,594 4.77%
    Cash Out Refi 45 $6,995,000 $155,444 $3,271 4.42%

    For 2018, Premium Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 3,460 originations. The 2nd most popular reason was Refi, with 84 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 3,296 $541,640,000 $164,333 $3,317 4.68%
    15 Year 183 $29,445,000 $160,902 $3,174 4.20%
    20 Year 96 $16,560,000 $172,500 $3,056 4.54%
    10 Year 12 $1,390,000 $115,833 $2,898 4.06%
    Other 2 $590,000 $295,000 $4,313 4.75%

    For 2018, Premium Mortgage Corporation's most frequently cited loan duration was 30 Year, with 3,296 originations. The 2nd most popular length was 15 Year, with 183 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,968 $323,410,000 $164,334
    $<1k 1,493 $236,805,000 $158,610
    $2k-3k 83 $15,825,000 $190,663
    $3k-4k 25 $6,385,000 $255,400
    $5k+ 9 $4,285,000 $476,111
    $4k-5k 8 $2,520,000 $315,000

    Premium Mortgage Corporation's average total fees were $3,317, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,968 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 2,879 $481,375,000 $167,202
    5-6% 394 $53,430,000 $135,609
    3-4% 313 $54,605,000 $174,457
    6-7% 3 $215,000 $71,667

    During 2018, Premium Mortgage Corporation's average interest rate for loans was 4.68%, while their most frequently originated rate bucket for loans was 4-5%, with 2,879 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 2,025 $291,195,000 $143,800 $3,146 4.64%
    $200k-400k 847 $220,855,000 $260,750 $4,117 4.60%
    $100,000 or less 661 $51,745,000 $78,283 $2,548 4.75%
    $400k-600k 52 $23,130,000 $444,808 $5,376 4.54%
    $600k-1MM 4 $2,700,000 $675,000 $8,759 4.63%

    2018 saw Premium Mortgage Corporation place emphasis on $100k-200k loans with 2,025 originations, totaling $291,195,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 1,028 $146,430,000 $142,442 $3,160 4.65%
    $50k or less 788 $87,200,000 $110,660 $2,796 4.63%
    $75k-100k 720 $126,060,000 $175,083 $3,436 4.65%
    $100k-150k 650 $130,910,000 $201,400 $3,646 4.62%
    $150k-250k 307 $71,515,000 $232,948 $3,862 4.70%
    $250k+ 88 $26,250,000 $298,295 $3,872 4.70%

    Premium Mortgage Corporation lent most frequently to those with incomes in the $50k-75k range, with 1,028 originations. The second most popular income band? $50k or less, with 788 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 661 $106,315,000 $160,840 $3,223 4.61%
    30-36% 661 $109,885,000 $166,241 $3,329 4.68%
    50-60% 303 $49,325,000 $162,789 $4,083 4.56%
    <20% 152 $23,860,000 $156,974 $3,114 4.58%
    40% 151 $24,335,000 $161,159 $3,052 4.71%
    42% 147 $24,885,000 $169,286 $2,935 4.66%
    38% 140 $22,060,000 $157,571 $3,145 4.66%
    43% 136 $23,050,000 $169,485 $3,163 4.69%
    45% 136 $23,540,000 $173,088 $3,183 4.64%
    46% 131 $22,765,000 $173,779 $3,286 4.67%
    48% 126 $20,200,000 $160,317 $3,351 4.67%
    44% 124 $20,610,000 $166,210 $3,252 4.68%
    37% 124 $19,130,000 $154,274 $2,979 4.68%
    41% 123 $19,965,000 $162,317 $3,358 4.72%
    47% 120 $21,380,000 $178,167 $3,317 4.65%
    36% 118 $18,440,000 $156,271 $3,103 4.60%
    49% 115 $19,875,000 $172,826 $3,680 4.65%
    39% 108 $18,210,000 $168,611 $3,209 4.66%
    >60% 11 $1,485,000 $135,000 $2,900 4.69%

    Premium Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 661 originations. The next most common DTI ratio? 30-36%, with 661 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 3,375 $554,185,000 $164,203 $3,294 4.64%
    Asian 96 $17,260,000 $179,792 $3,473 4.70%
    Black 95 $14,315,000 $150,684 $3,415 4.72%
    American Indian 10 $1,420,000 $142,000 $2,511 4.74%
    Not provided 7 $1,255,000 $179,286 $5,045 4.86%
    Asian Indian 2 $620,000 $310,000 $3,269 4.56%
    Native Hawaiian or Islander 4 $570,000 $142,500 $2,243 4.44%

    Approval Rates

    Total approvals of all applications
    98.17%

    Premium 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
    86.29%

    Premium Mortgage Corporation has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 3,589 $589,625,000 $164,287

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 11 $1,185,000 $107,727
    Single Family (1-4 Units):Site-Built 3,578 $588,440,000 $164,461

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 41 $3,505,000 $85,488 $2,977 4.41%
    40-60% 108 $15,490,000 $143,426 $3,200 4.46%
    60-80% 788 $128,580,000 $163,173 $3,151 4.76%
    80-100% 2,594 $429,490,000 $165,571 $3,270 4.62%
    Over 100% 57 $12,495,000 $219,211 $7,254 4.60%
    Under 20% 1 $65,000 $65,000 $3,942 4.25%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    PREMIUM MORTGAGE CORP VA mortgage Closing on a mortgage 1 100.0%