Priority Mortgage Corp. Rates, Fees & Info
WESTERVILLE, OHLEI: 5493002RM1FZTGQ55U28
Tax ID: 31-1088264
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Mortgage Data
Review & Overview
Priority Mortgage Corp. is a smaller mortgage company specializing in Home Purchase and Refi loans. Priority Mortgage Corp. 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: Columbus, Washington Court House, North Port, Cincinnati, and Cleveland among others. We have data for 26 markets. (Some data included below & more in-depth data is available with an active subscription.)Priority Mortgage Corp. 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. Priority Mortgage Corp. 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.95% | 4/21/24 |
| 30 Year Conventional Refi | 6.93% | 4/21/24 |
| 30 Year Cash-out Refi | 6.71% | 4/21/24 |
| 30 Year FHA Purchase | 7.80% | 4/21/24 |
| 30 Year FHA Refi | 7.42% | 4/21/24 |
| 30 Year VA Purchase | 6.90% | 4/21/24 |
| 30 Year VA Refi | 7.22% | 4/21/24 |
| 30 Year USDA Purchase | 6.99% | 4/21/24 |
| 15 Year Conventional Purchase | 6.23% | 4/21/24 |
| 15 Year Conventional Refi | 6.39% | 4/21/24 |
| 15 Year Cash-out Refi | 6.39% | 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. | ||
Priority Mortgage Corp. Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
774Origination Dollar Volume (All Markets)
$163,170,000Top 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 |
|---|---|---|---|---|---|
| COLUMBUS, OH (FHA|USDA|VA) | 676 | $146,930,000 | $217,352 | $4,017 | 4.03% |
| Washington Court House, OH (FHA|USDA|VA) | 22 | $3,070,000 | $139,545 | $4,164 | 4.05% |
| Outside of Metro Areas | 15 | $1,995,000 | $133,000 | $4,789 | 4.09% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 5 | $1,685,000 | $337,000 | $4,633 | 4.10% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 4 | $1,070,000 | $267,500 | $3,425 | 4.16% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 7 | $1,035,000 | $147,857 | $3,318 | 4.23% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 5 | $715,000 | $143,000 | $5,136 | 4.30% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $5,431 | 3.94% |
| AKRON, OH (FHA|USDA|VA) | 3 | $705,000 | $235,000 | $3,092 | 3.96% |
| Mount Vernon, OH (FHA|USDA|VA) | 4 | $690,000 | $172,500 | $3,778 | 3.94% |
| Bellefontaine, OH (FHA|USDA|VA) | 4 | $660,000 | $165,000 | $4,445 | 4.44% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 2 | $630,000 | $315,000 | $2,958 | 3.63% |
| TOLEDO, OH (FHA|USDA|VA) | 3 | $615,000 | $205,000 | $3,624 | 4.04% |
| SPRINGFIELD, OH (FHA|USDA|VA) | 5 | $485,000 | $97,000 | $2,653 | 4.20% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $6,350 | 4.31% |
| Marion, OH (FHA|USDA|VA) | 3 | $375,000 | $125,000 | $4,859 | 4.79% |
| Urbana, OH (FHA|USDA|VA) | 3 | $255,000 | $85,000 | $2,975 | 4.13% |
| Marietta, OH (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,424 | 3.88% |
| Portsmouth, OH (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,708 | 4.13% |
| Norwalk, OH (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $5,792 | 3.63% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $5,764 | 4.50% |
| LIMA, OH (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $5,309 | 3.50% |
| Wilmington, OH (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,276 | 4.13% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,543 | 4.25% |
| Chillicothe, OH (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,828 | 4.13% |
| MANSFIELD, OH (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $5,939 | 5.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against PRIORITY MORTGAGE CORP. 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 2019, Priority Mortgage Corp.'s most frequently originated type of loan was Conventional, with 574 originations. Their 2nd most popular type was FHA, with 130 originations.
Loan Reason
For 2019, Priority Mortgage Corp.'s most frequently cited loan purpose was Home Purchase, with 589 originations. The 2nd most popular reason was Refi, with 180 originations.
Loan Duration/Length
For 2019, Priority Mortgage Corp.'s most frequently cited loan duration was 30 Year, with 697 originations. The 2nd most popular length was 15 Year, with 49 originations.
Origination Fees/Closing Costs
Priority Mortgage Corp.'s average total fees were $4,158, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 708 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 461 | $103,245,000 | $223,959 |
| 4-5% | 260 | $52,450,000 | $201,731 |
| 5-6% | 52 | $7,400,000 | $142,308 |
| 6-7% | 1 | $75,000 | $75,000 |
During 2019, Priority Mortgage Corp.'s average interest rate for loans was 4.09%, while their most frequently originated rate bucket for loans was 3-4%, with 461 originations.
Loan Sizing
2019 saw Priority Mortgage Corp. place emphasis on $100k-200k loans with 357 originations, totaling $54,425,000 in origination value.
Applicant Income
Priority Mortgage Corp. lent most frequently to those with incomes in the $50k-75k range, with 188 originations. The second most popular income band? $100k-150k, with 176 originations.
Applicant Debt to Income Ratio
Priority Mortgage Corp. lent most frequently to those with DTI ratios of 20-30%, with 187 originations. The next most common DTI ratio? 30-36%, with 148 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.90%
Priority Mortgage Corp. has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination81.14%
Priority Mortgage Corp. has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 774 | $163,170,000 | $210,814 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 6 | $870,000 | $145,000 |
| Single Family (1-4 Units):Site-Built | 768 | $162,300,000 | $211,328 |