Priority One Credit Union Mortgage Rates, Fees & Info

South Pasadena, CA

LEI: 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

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    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 two markets are Los Angeles and Riverside .

    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

    27

    Origination Dollar Volume (All Markets)

    $1,505,000

    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
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 22 $1,240,000 $56,364 $0 5.50%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 5 $265,000 $53,000 $0 5.33%
    Priority One Credit Union's top markets include Los Angeles and Riverside among others.

    Their top states include:
  • California (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 27 $1,505,000 $55,741 $0 5.47%

    For 2018, Priority One Credit Union's most frequently originated type of loan was Conventional, with 27 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 27 $1,505,000 $55,741 $0 5.47%

    For 2018, Priority One Credit Union's most frequently cited loan purpose was Home Improvement, with 27 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 27 $1,505,000 $55,741 $0 5.47%

    For 2018, Priority One Credit Union's most frequently cited loan duration was 15 Year, with 27 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 26 $1,450,000 $55,769
    4-5% 1 $55,000 $55,000

    During 2018, Priority One Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 26 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 23 $1,085,000 $47,174 $0 5.46%
    $100k-200k 4 $420,000 $105,000 $0 5.53%

    2018 saw Priority One Credit Union place emphasis on $100,000 or less loans with 23 originations, totaling $1,085,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 10 $430,000 $43,000 $0 5.44%
    $50k or less 6 $340,000 $56,667 $0 5.49%
    $100k-150k 5 $245,000 $49,000 $0 5.46%
    $75k-100k 4 $350,000 $87,500 $0 5.54%
    $150k-250k 2 $140,000 $70,000 $0 5.44%

    Priority One Credit Union lent most frequently to those with incomes in the $50k-75k range, with 10 originations. The second most popular income band? $50k or less, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 10 $630,000 $63,000 $0 5.45%
    20-30% 7 $245,000 $35,000 $0 5.48%
    <20% 3 $215,000 $71,667 $0 5.42%
    40% 2 $90,000 $45,000 $0 5.59%
    41% 2 $130,000 $65,000 $0 5.40%
    >60% 1 $45,000 $45,000 $0 5.66%
    48% 1 $55,000 $55,000 $0 5.37%
    37% 1 $95,000 $95,000 $0 5.53%

    Priority One Credit Union lent most frequently to those with DTI ratios of 30-36%, with 10 originations. The next most common DTI ratio? 20-30%, with 7 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 15 $865,000 $57,667 $0 5.50%
    Black 8 $370,000 $46,250 $0 5.42%
    Asian 4 $270,000 $67,500 $0 5.46%

    Approval Rates

    Total approvals of all applications
    70.18%

    Priority One Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    74.07%

    Priority One Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 27 $1,505,000 $55,741

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 27 $1,505,000 $55,741

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 3 $265,000 $88,333 $0 5.47%
    Under 20% 24 $1,240,000 $51,667 $0 5.47%