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 loans. Premier Community Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Stockton, San Francisco, and Sacramento 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 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 an average 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
9Origination Dollar Volume (All Markets)
$4,235,000Top 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) | 5 | $2,255,000 | $451,000 | $7,379 | 3.22% |
| Outside of Metro Areas | 1 | $1,405,000 | $1,405,000 | $19,528 | 2.99% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $5,103 | 3.31% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $2,700 | 5.13% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 9 | $4,235,000 | $470,556 | $7,703 | 3.43% |
For 2021, Premier Community Credit Union's most frequently originated type of loan was Conventional, with 9 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 8 | $3,790,000 | $473,750 | $7,715 | 3.45% |
| Refi | 1 | $445,000 | $445,000 | $7,610 | 3.25% |
For 2021, Premier Community Credit Union's most frequently cited loan purpose was Cash Out Refi, with 8 originations. The 2nd most popular reason was Refi, with 1 originations.
Loan Duration/Length
For 2021, Premier Community Credit Union's most frequently cited loan duration was 15 Year, with 3 originations. The 2nd most popular length was 30 Year, with 3 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $5k+ | 5 | $3,685,000 | $737,000 |
| $<1k | 3 | $195,000 | $65,000 |
| $4k-5k | 1 | $355,000 | $355,000 |
Premier Community Credit Union's average total fees were $8,810, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 5 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 3 | $2,635,000 | $878,333 |
| <2.5% | 2 | $960,000 | $480,000 |
| 3-4% | 2 | $500,000 | $250,000 |
| 5-6% | 2 | $140,000 | $70,000 |
During 2021, Premier Community Credit Union's average interest rate for loans was 3.08%, while their most frequently originated rate bucket for loans was 2.5-3%, with 3 originations.
Loan Sizing
2021 saw Premier Community Credit Union place emphasis on $100,000 or less loans with 3 originations, totaling $195,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $150k-250k | 4 | $1,260,000 | $315,000 | $5,756 | 3.69% |
| $250k+ | 4 | $2,910,000 | $727,500 | $10,849 | 2.75% |
Premier Community Credit Union lent most frequently to those with incomes in the $150k-250k range, with 4 originations. The second most popular income band? $250k+, with 4 originations.
Applicant Debt to Income Ratio
Premier Community Credit Union lent most frequently to those with DTI ratios of <20%, with 4 originations. The next most common DTI ratio? 30-36%, with 3 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 8 | $3,690,000 | $461,250 | $7,578 | 3.48% |
| Not provided | 1 | $545,000 | $545,000 | $8,703 | 2.99% |
Approval Rates
Total approvals of all applications76.92%
Premier Community Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination88.89%
Premier Community Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 9 | $4,235,000 | $470,556 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Premier Mortgage, LLC | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 33.3% |
| Premier Mortgage, LLC | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 66.7% |