Priority One Credit Union Mortgage Rates, Fees & Info
South Pasadena, CALEI: 549300463UZU06Q14K24
Tax ID: 95-1117083
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Priority One Credit Union is a smaller credit union specializing in Home Improvement loans. Priority One Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, and San Diego among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Priority One Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
43Origination Dollar Volume (All Markets)
$4,405,000Top 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 |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 39 | $3,905,000 | $100,128 | $0 | 9.01% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 3 | $295,000 | $98,333 | $0 | 9.50% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 9.50% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 25 | $2,755,000 | $110,200 | n/a | 9.38% |
| Conventional | 18 | $1,650,000 | $91,667 | $0 | 8.61% |
For 2024, Priority One Credit Union's most frequently originated type of loan was HELOC, with 25 originations. Their 2nd most popular type was Conventional, with 18 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Improvement | 42 | $4,350,000 | $103,571 | $0 | 9.08% |
| Other | 1 | $55,000 | $55,000 | $0 | 8.00% |
For 2024, Priority One Credit Union's most frequently cited loan purpose was Home Improvement, with 42 originations. The 2nd most popular reason was Other, with 1 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20 Year | 25 | $2,755,000 | $110,200 | $0 | 9.38% |
| 15 Year | 18 | $1,650,000 | $91,667 | $0 | 8.61% |
For 2024, Priority One Credit Union's most frequently cited loan duration was 20 Year, with 25 originations. The 2nd most popular length was 15 Year, with 18 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 18 | $1,650,000 | $91,667 |
Priority One Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 18 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 40 | $4,220,000 | $105,500 |
| 7-8% | 3 | $185,000 | $61,667 |
During 2024, Priority One Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 40 originations.
Loan Sizing
2024 saw Priority One Credit Union place emphasis on $100,000 or less loans with 21 originations, totaling $1,295,000 in origination value.
Applicant Income
Priority One Credit Union lent most frequently to those with incomes in the $50k-75k range, with 12 originations. The second most popular income band? $75k-100k, with 12 originations.
Applicant Debt to Income Ratio
Priority One Credit Union lent most frequently to those with DTI ratios of 49%, with 7 originations. The next most common DTI ratio? 37%, with 5 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications85.71%
Priority One Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination60.47%
Priority One Credit Union 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 | 43 | $4,405,000 | $102,442 |