Premium Mortgage Corporation Rates, Fees & Info
Rochester, NYLEI: 254900XN7UWEWK13RO81
Tax ID: 16-1566654
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Mortgage Data
Review & Overview
Premium Mortgage Corporation is a small 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, Utica, and Syracuse among others. We have data for 54 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.63% | 4/21/24 |
| 30 Year Conventional Refi | 6.51% | 4/21/24 |
| 30 Year Cash-out Refi | 6.66% | 4/21/24 |
| 30 Year FHA Purchase | 7.54% | 4/21/24 |
| 30 Year FHA Refi | 7.31% | 4/21/24 |
| 30 Year VA Purchase | 6.55% | 4/21/24 |
| 30 Year VA Refi | 6.65% | 4/21/24 |
| 30 Year USDA Purchase | 6.85% | 4/21/24 |
| 15 Year Conventional Purchase | 6.17% | 4/21/24 |
| 15 Year Conventional Refi | 6.01% | 4/21/24 |
| 15 Year Cash-out Refi | 6.01% | 4/21/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
5,360Origination Dollar Volume (All Markets)
$1,158,090,000Awards
Premium Mortgage Corporation - 2022
Premium Mortgage Corporation is a 2022 , due to their low .
For 2022, 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 |
|---|---|---|---|---|---|
| ROCHESTER, NY (FHA|USDA|VA) | 2,522 | $529,990,000 | $210,147 | $4,346 | 5.18% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 1,575 | $366,675,000 | $232,810 | $4,937 | 5.01% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 309 | $73,605,000 | $238,204 | $5,617 | 4.86% |
| UTICA-ROME, NY (FHA|USDA|VA) | 159 | $30,155,000 | $189,654 | $4,704 | 4.94% |
| SYRACUSE, NY (FHA|USDA|VA) | 137 | $26,985,000 | $196,971 | $5,041 | 4.83% |
| Batavia, NY (FHA|USDA|VA) | 155 | $26,045,000 | $168,032 | $3,920 | 5.10% |
| Outside of Metro Areas | 115 | $18,825,000 | $163,696 | $4,343 | 4.93% |
| BINGHAMTON, NY (FHA|USDA|VA) | 58 | $10,290,000 | $177,414 | $4,564 | 5.18% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 22 | $8,730,000 | $396,818 | $8,435 | 5.38% |
| Corning, NY (FHA|USDA|VA) | 43 | $7,005,000 | $162,907 | $3,539 | 4.81% |
| Olean, NY (FHA|USDA|VA) | 28 | $4,880,000 | $174,286 | $4,853 | 4.58% |
| GLENS FALLS, NY (FHA|USDA|VA) | 19 | $4,435,000 | $233,421 | $6,567 | 4.94% |
| Seneca Falls, NY (FHA|USDA|VA) | 19 | $4,315,000 | $227,105 | $3,950 | 4.83% |
| Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) | 29 | $4,125,000 | $142,241 | $4,112 | 5.06% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 10 | $4,090,000 | $409,000 | $6,633 | 4.24% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 12 | $3,950,000 | $329,167 | $7,865 | 5.46% |
| Gloversville, NY (FHA|USDA|VA) | 20 | $3,340,000 | $167,000 | $4,148 | 4.92% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 8 | $2,460,000 | $307,500 | $5,982 | 5.05% |
| Amsterdam, NY (FHA|USDA|VA) | 16 | $2,380,000 | $148,750 | $4,604 | 4.97% |
| ELMIRA, NY (FHA|USDA|VA) | 16 | $2,290,000 | $143,125 | $3,827 | 5.10% |
| Oneonta, NY (FHA|USDA|VA) | 10 | $2,070,000 | $207,000 | $4,876 | 5.58% |
| Auburn, NY (FHA|USDA|VA) | 10 | $2,010,000 | $201,000 | $4,536 | 5.18% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 4 | $1,910,000 | $477,500 | $6,589 | 4.63% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 4 | $1,490,000 | $372,500 | $9,043 | 4.72% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 5 | $1,315,000 | $263,000 | $5,529 | 6.25% |
| Cortland, NY (FHA|USDA|VA) | 6 | $1,300,000 | $216,667 | $4,115 | 3.75% |
| ITHACA, NY (FHA|USDA|VA) | 5 | $1,165,000 | $233,000 | $3,289 | 4.85% |
| WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) | 5 | $1,165,000 | $233,000 | $3,359 | 4.63% |
| Hudson, NY (FHA|USDA|VA) | 3 | $935,000 | $311,667 | $4,435 | 5.13% |
| OCALA, FL (FHA|USDA|VA) | 3 | $825,000 | $275,000 | $8,443 | 4.96% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 2 | $790,000 | $395,000 | $9,948 | 4.88% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 2 | $760,000 | $380,000 | $3,804 | 5.56% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $665,000 | $665,000 | $2,500 | 5.13% |
| KINGSTON, NY (FHA|USDA|VA) | 2 | $660,000 | $330,000 | $3,496 | 3.75% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $7,038 | 5.50% |
| PITTSBURGH, PA (FHA|USDA|VA) | 3 | $615,000 | $205,000 | $4,374 | 4.46% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $11,469 | 5.88% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $0 | 5.00% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $500 | 4.00% |
| Ogdensburg-Massena, NY (FHA|USDA|VA) | 3 | $465,000 | $155,000 | $3,383 | 5.46% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $4,281 | 6.38% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 4.00% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $11,052 | 5.63% |
| Bennington, VT (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $5,005 | 5.88% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $7,085 | 5.50% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,231 | 4.13% |
| TOLEDO, OH (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $8,024 | 4.25% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $8,714 | 5.38% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,781 | 7.13% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,210 | 5.63% |
| Arcadia, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,115 | 5.38% |
| Warren, PA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 5.63% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 3.88% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,120 | 3.13% |
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.
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Product Mix
For 2022, Premium Mortgage Corporation's most frequently originated type of loan was Conventional, with 4,138 originations. Their 2nd most popular type was FHA, with 940 originations.
Loan Reason
For 2022, Premium Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 5,118 originations. The 2nd most popular reason was Cash Out Refi, with 158 originations.
Loan Duration/Length
For 2022, Premium Mortgage Corporation's most frequently cited loan duration was 30 Year, with 5,156 originations. The 2nd most popular length was 15 Year, with 152 originations.
Origination Fees/Closing Costs
Premium Mortgage Corporation's average total fees were $4,661, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 2,917 originations.
Interest Rates
During 2022, Premium Mortgage Corporation's average interest rate for loans was 5.10%, while their most frequently originated rate bucket for loans was 5-6%, with 2,240 originations.
Loan Sizing
2022 saw Premium Mortgage Corporation place emphasis on $100k-200k loans with 2,500 originations, totaling $385,110,000 in origination value.
Applicant Income
Premium Mortgage Corporation lent most frequently to those with incomes in the $50k-75k range, with 1,449 originations. The second most popular income band? $100k-150k, with 1,188 originations.
Applicant Debt to Income Ratio
Premium Mortgage Corporation lent most frequently to those with DTI ratios of 30-36%, with 955 originations. The next most common DTI ratio? 20-30%, with 944 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.82%
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 origination89.05%
Premium Mortgage Corporation has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 5,360 | $1,158,090,000 | $216,062 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5,360 | $1,158,090,000 | $216,062 |