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, Bellefontaine, Mount Vernon, and Marion among others. We have data for 36 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% | 11/22/24 |
| 30 Year Conventional Refi | 6.93% | 11/22/24 |
| 30 Year Cash-out Refi | 6.71% | 11/22/24 |
| 30 Year FHA Purchase | 7.80% | 11/22/24 |
| 30 Year FHA Refi | 7.42% | 11/22/24 |
| 30 Year VA Purchase | 6.90% | 11/22/24 |
| 30 Year VA Refi | 7.22% | 11/22/24 |
| 30 Year USDA Purchase | 6.99% | 11/22/24 |
| 15 Year Conventional Purchase | 6.23% | 11/22/24 |
| 15 Year Conventional Refi | 6.39% | 11/22/24 |
| 15 Year Cash-out Refi | 6.39% | 11/22/24 |
| 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
942Origination Dollar Volume (All Markets)
$224,160,000Top 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) | 802 | $199,930,000 | $249,289 | $3,949 | 3.00% |
| Outside of Metro Areas | 16 | $2,190,000 | $136,875 | $4,278 | 3.09% |
| Washington Court House, OH (FHA|USDA|VA) | 15 | $2,065,000 | $137,667 | $4,185 | 2.78% |
| Bellefontaine, OH (FHA|USDA|VA) | 10 | $2,060,000 | $206,000 | $4,046 | 3.46% |
| Mount Vernon, OH (FHA|USDA|VA) | 11 | $1,865,000 | $169,545 | $3,895 | 2.63% |
| Marion, OH (FHA|USDA|VA) | 11 | $1,725,000 | $156,818 | $4,105 | 3.34% |
| SPRINGFIELD, OH (FHA|USDA|VA) | 9 | $1,595,000 | $177,222 | $4,380 | 2.99% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 5 | $1,475,000 | $295,000 | $3,881 | 3.08% |
| Jackson, OH (FHA|USDA|VA) | 9 | $1,305,000 | $145,000 | $4,998 | 3.18% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 6 | $980,000 | $163,333 | $3,921 | 3.29% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 4 | $810,000 | $202,500 | $4,556 | 3.03% |
| Findlay, OH (FHA|USDA|VA) | 3 | $765,000 | $255,000 | $8,728 | 2.96% |
| MANSFIELD, OH (FHA|USDA|VA) | 4 | $730,000 | $182,500 | $3,415 | 2.97% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $720,000 | $360,000 | $4,355 | 3.19% |
| Chillicothe, OH (FHA|USDA|VA) | 4 | $660,000 | $165,000 | $4,367 | 2.78% |
| TOLEDO, OH (FHA|USDA|VA) | 4 | $580,000 | $145,000 | $3,849 | 3.16% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 3 | $505,000 | $168,333 | $3,765 | 3.17% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $4,541 | 2.63% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $3,487 | 3.00% |
| Zanesville, OH (FHA|USDA|VA) | 3 | $395,000 | $131,667 | $3,486 | 3.17% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $2,757 | 2.75% |
| Ashland, OH (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,846 | 3.13% |
| Sandusky, OH (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,999 | 3.38% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $4,246 | 2.63% |
| LIMA, OH (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $11,629 | 2.25% |
| Athens, OH (FHA|USDA|VA) | 2 | $220,000 | $110,000 | $4,486 | 3.44% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,381 | 3.25% |
| Celina, OH (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,486 | 2.38% |
| Marietta, OH (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,128 | 2.88% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,901 | 2.63% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,337 | 2.63% |
| Greenville, OH (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,465 | 3.00% |
| Urbana, OH (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,858 | 3.13% |
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,116 | 2.88% |
| Point Pleasant, WV-OH (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $7,287 | 3.75% |
| Wilmington, OH (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $4,528 | 2.75% |
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Product Mix
For 2021, Priority Mortgage Corp.'s most frequently originated type of loan was Conventional, with 796 originations. Their 2nd most popular type was FHA, with 84 originations.
Loan Reason
For 2021, Priority Mortgage Corp.'s most frequently cited loan purpose was Home Purchase, with 587 originations. The 2nd most popular reason was Refi, with 352 originations.
Loan Duration/Length
For 2021, Priority Mortgage Corp.'s most frequently cited loan duration was 30 Year, with 790 originations. The 2nd most popular length was 15 Year, with 92 originations.
Origination Fees/Closing Costs
Priority Mortgage Corp.'s average total fees were $4,206, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 864 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 413 | $101,335,000 | $245,363 |
| 2.5-3% | 400 | $95,360,000 | $238,400 |
| <2.5% | 118 | $25,530,000 | $216,356 |
| 4-5% | 11 | $1,935,000 | $175,909 |
During 2021, Priority Mortgage Corp.'s average interest rate for loans was 3.08%, while their most frequently originated rate bucket for loans was 3-4%, with 413 originations.
Loan Sizing
2021 saw Priority Mortgage Corp. place emphasis on $200k-400k loans with 450 originations, totaling $125,450,000 in origination value.
Applicant Income
Priority Mortgage Corp. lent most frequently to those with incomes in the $100k-150k range, with 218 originations. The second most popular income band? $50k-75k, with 201 originations.
Applicant Debt to Income Ratio
Priority Mortgage Corp. lent most frequently to those with DTI ratios of 20-30%, with 252 originations. The next most common DTI ratio? 30-36%, with 178 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.51%
Priority Mortgage Corp. has an average approval rate.
Pick Rate
Approvals leading to origination-47.13%
Priority Mortgage Corp. 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 | 942 | $224,160,000 | $237,962 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Priority Financial Services | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |