Priority Home Mortgage L.p. Rates, Fees & InfoHOUSTON, TX
Tax ID: 76-0678163
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewPriority Home Mortgage L.p. is a smaller mortgage company specializing in Home Purchase loans. Priority Home Mortgage L.p. has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Dallas, Austin, Houston, San Antonio, and Colorado Springs among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)
Priority Home Mortgage L.p. 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 Home Mortgage L.p. 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.
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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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.33%||9/18/23|
|30 Year Cash-out Refi||7.13%||9/18/23|
|30 Year FHA Purchase||7.10%||9/18/23|
|30 Year VA Purchase||5.76%||9/18/23|
|15 Year Conventional Purchase||5.70%||9/18/23|
|15 Year Conventional Refi||5.54%||9/18/23|
|15 Year Cash-out Refi||5.54%||9/18/23|
|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 Home Mortgage L.p. Mortgage Calculator
Your EstimatesEstimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Priority Home Mortgage L.p.. It uses our SimulatedRate™
technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.
The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Origination Dollar Volume (All Markets)$282,335,000
PRIORITY HOME MORTGAGE L.P. - 2022
PRIORITY HOME MORTGAGE L.P. is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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Priority Home Mortgage L.p.'s average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.06%.
Relative Fees (Closing Costs)
Priority Home Mortgage L.p.'s average total fees/closing costs for a 30 year fixed rate
mortgage were $6,611.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.
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|
|Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA)||287||$120,545,000||$420,017||$5,564||4.90%|
|AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA)||164||$67,750,000||$413,110||$6,641||4.91%|
|HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA)||111||$39,715,000||$357,793||$7,301||4.16%|
|SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA)||87||$38,465,000||$442,126||$9,341||4.83%|
|COLORADO SPRINGS, CO (FHA|USDA|VA)||22||$10,130,000||$460,455||$6,208||4.70%|
|SHERMAN-DENISON, TX (FHA|USDA|VA)||16||$5,730,000||$358,125||$4,248||4.90%|
We use machine learning to identify the top lenders compared against PRIORITY HOME MORTGAGE L.P. based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Priority Home Mortgage L.p.'s most frequently originated type of loan was Conventional, with 586 originations. Their 2nd most popular type was VA, with 66 originations.
|Loan Reason||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
|Cash Out Refi||1||$645,000||$645,000||$6,921||4.00%|
For 2022, Priority Home Mortgage L.p.'s most frequently cited loan purpose was Home Purchase, with 685 originations. The 2nd most popular reason was Refi, with 1 originations.
|Loan Length||Originations||Total Value||Average Loan||Average Fees||Average Rate|
For 2022, Priority Home Mortgage L.p.'s most frequently cited loan duration was 30 Year, with 650 originations. The 2nd most popular length was 15 Year, with 28 originations.
Origination Fees/Closing Costs
Priority Home Mortgage L.p.'s average total fees were $6,611, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 293 originations.
During 2022, Priority Home Mortgage L.p.'s average interest rate for loans was 4.82%, while their most frequently originated rate bucket for loans was 4-5%, with 233 originations.
2022 saw Priority Home Mortgage L.p. place emphasis on $400k-600k loans with 324 originations, totaling $155,820,000 in origination value.
Priority Home Mortgage L.p. lent most frequently to those with incomes in the $100k-150k range, with 238 originations. The second most popular income band? $150k-250k, with 238 originations.
Applicant Debt to Income Ratio
Priority Home Mortgage L.p. lent most frequently to those with DTI ratios of 30-36%, with 139 originations. The next most common DTI ratio? 20-30%, with 121 originations.
Approval RatesTotal approvals of all applications
Priority Home Mortgage L.p. has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick RateApprovals leading to origination
Priority Home Mortgage L.p. 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|