Priority Home Mortgage L.p. Rates, Fees & Info
HOUSTON, TXLEI: 5493004M1U54OO4KKE09
Tax ID: 76-0678163
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Mortgage Data
Review & Overview
Priority 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 an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Dallas, Austin, San Antonio, Houston, and Colorado Springs among others. We have data for 5 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.33% | 4/22/24 |
| 30 Year Cash-out Refi | 7.13% | 4/22/24 |
| 30 Year FHA Purchase | 7.10% | 4/22/24 |
| 30 Year VA Purchase | 5.76% | 4/22/24 |
| 15 Year Conventional Purchase | 5.70% | 4/22/24 |
| 15 Year Conventional Refi | 5.54% | 4/22/24 |
| 15 Year Cash-out Refi | 5.54% | 4/22/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
334Origination Dollar Volume (All Markets)
$113,700,000Awards
PRIORITY HOME MORTGAGE L.P. - 2018
PRIORITY HOME MORTGAGE L.P. is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 168 | $58,460,000 | $347,976 | $6,158 | 4.77% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 88 | $30,180,000 | $342,955 | $4,556 | 4.79% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 46 | $15,660,000 | $340,435 | $5,828 | 4.62% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 30 | $8,590,000 | $286,333 | $4,068 | 4.54% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 2 | $810,000 | $405,000 | $3,286 | 4.31% |
Similar Lenders
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.
Similarity Rank: 200
Similarity Rank: 291
Similarity Rank: 416
Similarity Rank: 456
Similarity Rank: 472
Similarity Rank: 480
Similarity Rank: 481
Similarity Rank: 900
Similarity Rank: 975
Similarity Rank: 980
Product Mix
For 2018, Priority Home Mortgage L.p.'s most frequently originated type of loan was Conventional, with 266 originations. Their 2nd most popular type was VA, with 42 originations.
Loan Reason
For 2018, Priority Home Mortgage L.p.'s most frequently cited loan purpose was Home Purchase, with 331 originations. The 2nd most popular reason was Refi, with 2 originations.
Loan Duration/Length
For 2018, Priority Home Mortgage L.p.'s most frequently cited loan duration was 30 Year, with 310 originations. The 2nd most popular length was 15 Year, with 20 originations.
Origination Fees/Closing Costs
Priority Home Mortgage L.p.'s average total fees were $5,542, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 165 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 245 | $83,265,000 | $339,857 |
| 5-6% | 62 | $21,140,000 | $340,968 |
| 3-4% | 24 | $8,460,000 | $352,500 |
| 6-7% | 3 | $835,000 | $278,333 |
During 2018, Priority Home Mortgage L.p.'s average interest rate for loans was 4.76%, while their most frequently originated rate bucket for loans was 4-5%, with 245 originations.
Loan Sizing
2018 saw Priority Home Mortgage L.p. place emphasis on $200k-400k loans with 213 originations, totaling $67,345,000 in origination value.
Applicant Income
Priority Home Mortgage L.p. lent most frequently to those with incomes in the $100k-150k range, with 123 originations. The second most popular income band? $150k-250k, with 99 originations.
Applicant Debt to Income Ratio
Priority Home Mortgage L.p. lent most frequently to those with DTI ratios of 30-36%, with 61 originations. The next most common DTI ratio? 20-30%, with 50 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.78%
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 Rate
Approvals leading to origination64.07%
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 |
|---|---|---|---|
| NA | 334 | $113,700,000 | $340,419 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 334 | $113,700,000 | $340,419 |