Premier Community Credit Union Mortgage Rates, Fees & Info
Stockton, CALEI: 5493004GXVRGCA238646
Tax ID: 94-1215832
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Mortgage Data
Review & Overview
Premier Community Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Premier Community Credit Union has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Stockton, Modesto, and Sonora among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Premier Community Credit Union 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. Premier Community Credit Union 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.
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Originations
22Origination Dollar Volume (All Markets)
$3,350,000Top 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 |
|---|---|---|---|---|---|
| STOCKTON, CA (FHA|USDA|VA) | 17 | $2,505,000 | $147,353 | $3,314 | 5.41% |
| MODESTO, CA (FHA|USDA|VA) | 3 | $755,000 | $251,667 | $5,112 | 6.12% |
| Outside of Metro Areas | 1 | $55,000 | $55,000 | $2,395 | 5.85% |
| Sonora, CA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $1,430 | 6.38% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 21 | $2,965,000 | $141,190 | $2,976 | 5.66% |
| FHA | 1 | $385,000 | $385,000 | $12,316 | 3.63% |
For 2019, Premier Community Credit Union's most frequently originated type of loan was Conventional, with 21 originations. Their 2nd most popular type was FHA, with 1 originations.
Loan Reason
For 2019, Premier Community Credit Union's most frequently cited loan purpose was Cash Out Refi, with 17 originations. The 2nd most popular reason was Home Purchase, with 3 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 15 Year | 13 | $725,000 | $55,769 | $1,998 | 6.28% |
| 30 Year | 9 | $2,625,000 | $291,667 | $5,612 | 4.54% |
For 2019, Premier Community Credit Union's most frequently cited loan duration was 15 Year, with 13 originations. The 2nd most popular length was 30 Year, with 9 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 11 | $605,000 | $55,000 |
| $3k-4k | 2 | $740,000 | $370,000 |
| $1k-2k | 1 | $55,000 | $55,000 |
| $5k+ | 1 | $645,000 | $645,000 |
Premier Community Credit Union's average total fees were $5,612, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 11 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 9 | $505,000 | $56,111 |
| 5-6% | 6 | $1,050,000 | $175,000 |
| 4-5% | 4 | $820,000 | $205,000 |
| 3-4% | 3 | $975,000 | $325,000 |
During 2019, Premier Community Credit Union's average interest rate for loans was 4.54%, while their most frequently originated rate bucket for loans was 6-7%, with 9 originations.
Loan Sizing
2019 saw Premier Community Credit Union place emphasis on $100,000 or less loans with 13 originations, totaling $725,000 in origination value.
Applicant Income
Premier Community Credit Union lent most frequently to those with incomes in the $100k-150k range, with 5 originations. The second most popular income band? $150k-250k, with 4 originations.
Applicant Debt to Income Ratio
Premier Community Credit Union lent most frequently to those with DTI ratios of 30-36%, with 7 originations. The next most common DTI ratio? 20-30%, with 6 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 22 | $3,350,000 | $152,273 | $3,443 | 5.57% |
Approval Rates
Total approvals of all applications90.91%
Premier Community Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination77.27%
Premier Community Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 22 | $3,350,000 | $152,273 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 22 | $3,350,000 | $152,273 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Premier Lending, Inc. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |