Priority Home Mortgage L.p. Rates, Fees & Info

HOUSTON, TX

LEI: 5493004M1U54OO4KKE09

Tax ID: 76-0678163

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

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

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.33% 12/16/24
    30 Year Cash-out Refi 7.13% 12/16/24
    30 Year FHA Purchase 7.10% 12/16/24
    30 Year VA Purchase 5.76% 12/16/24
    15 Year Conventional Purchase 5.70% 12/16/24
    15 Year Conventional Refi 5.54% 12/16/24
    15 Year Cash-out Refi 5.54% 12/16/24
    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






    Your Estimates

    Estimated 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.


    Originations

    334

    Origination Dollar Volume (All Markets)

    $113,700,000

    Awards

    PRIORITY HOME MORTGAGE L.P. 30 Year Conventional Loans gold PRIORITY HOME MORTGAGE L.P. 30 Year Conventional Loans gold PRIORITY HOME MORTGAGE L.P. 30 Year Conventional Loans bronze
    Show all (3) awards

    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%
    Priority Home Mortgage L.p.'s top markets include Dallas, Austin, San Antonio, Houston, and Colorado Springs among others.

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

    • 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.

    NEIGHBORHOOD
    Similarity Rank: 200
    CORNERSTONE MORTGAGE PROVIDERS
    Similarity Rank: 291
    TEXANS
    Similarity Rank: 416
    Priority Bank
    Similarity Rank: 456
    SOUTHERN LENDING SERVICES, LTD.
    Similarity Rank: 472
    Elevations Credit Union
    Similarity Rank: 480
    AUSTIN TELCO Federal Credit Union
    Similarity Rank: 481
    JSC
    Similarity Rank: 900
    A+ Federal Credit Union
    Similarity Rank: 975
    TEXAS BAY
    Similarity Rank: 980

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 266 $89,390,000 $336,053 $4,686 4.76%
    VA 42 $16,200,000 $385,714 $8,324 4.47%
    FHA 25 $7,855,000 $314,200 $9,144 4.89%
    USDA 1 $255,000 $255,000 $6,156 5.00%

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 331 $112,625,000 $340,257 $5,489 4.73%
    Refi 2 $620,000 $310,000 $2,226 4.25%
    Cash Out Refi 1 $455,000 $455,000 $6,916 4.63%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 310 $106,530,000 $343,645 $5,542 4.76%
    15 Year 20 $6,280,000 $314,000 $4,867 4.34%
    20 Year 3 $755,000 $251,667 $4,193 4.46%
    10 Year 1 $135,000 $135,000 $3,530 3.88%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 165 $56,415,000 $341,909
    $1k-2k 45 $14,515,000 $322,556
    $2k-3k 41 $12,765,000 $311,341
    $5k+ 40 $15,880,000 $397,000
    $3k-4k 25 $7,665,000 $306,600
    $4k-5k 17 $6,185,000 $363,824

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 213 $67,345,000 $316,174 $5,347 4.73%
    $400k-600k 81 $36,125,000 $445,988 $6,549 4.74%
    $100k-200k 33 $5,735,000 $173,788 $3,205 4.75%
    $600k-1MM 6 $4,430,000 $738,333 $9,121 4.56%
    $100,000 or less 1 $65,000 $65,000 $1,492 5.13%

    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

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 123 $40,955,000 $332,967 $5,431 4.76%
    $150k-250k 99 $37,325,000 $377,020 $5,919 4.65%
    $75k-100k 54 $15,490,000 $286,852 $5,135 4.67%
    $250k+ 29 $13,345,000 $460,172 $6,352 4.78%
    $50k-75k 23 $5,535,000 $240,652 $4,621 4.91%
    $50k or less 6 $1,050,000 $175,000 $1,612 5.00%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 61 $20,545,000 $336,803 $5,209 4.67%
    20-30% 50 $16,280,000 $325,600 $5,273 4.64%
    49% 28 $9,040,000 $322,857 $4,661 4.71%
    50-60% 24 $8,680,000 $361,667 $9,166 4.62%
    44% 19 $6,035,000 $317,632 $4,738 4.95%
    36% 15 $5,105,000 $340,333 $5,572 4.64%
    <20% 14 $5,280,000 $377,143 $4,869 4.61%
    42% 14 $4,550,000 $325,000 $5,473 4.93%
    43% 14 $5,010,000 $357,857 $5,433 4.82%
    47% 14 $5,070,000 $362,143 $5,772 4.95%
    41% 12 $4,160,000 $346,667 $4,472 4.61%
    40% 12 $4,240,000 $353,333 $5,194 4.92%
    39% 11 $3,675,000 $334,091 $5,735 4.86%
    46% 10 $3,580,000 $358,000 $5,833 4.65%
    37% 9 $3,155,000 $350,556 $4,804 4.92%
    45% 9 $3,225,000 $358,333 $4,276 4.83%
    38% 9 $3,015,000 $335,000 $4,327 4.65%
    48% 7 $2,205,000 $315,000 $5,248 4.80%
    >60% 2 $850,000 $425,000 $14,682 4.31%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 157 $52,195,000 $332,452 $5,258 4.68%
    Not provided 145 $50,115,000 $345,621 $5,721 4.82%
    Asian 22 $8,100,000 $368,182 $5,906 4.52%
    Black 8 $2,520,000 $315,000 $4,820 4.79%
    American Indian 1 $385,000 $385,000 $2,088 5.00%
    Native Hawaiian or Islander 1 $385,000 $385,000 $6,175 4.75%

    Approval Rates

    Total approvals of all applications
    96.78%

    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 origination
    64.07%

    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

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 11 $1,575,000 $143,182 $3,210 4.63%
    40-60% 26 $7,450,000 $286,538 $4,262 4.58%
    60-80% 111 $36,675,000 $330,405 $4,764 4.71%
    80-100% 178 $64,790,000 $363,989 $5,777 4.76%
    Over 100% 8 $3,210,000 $401,250 $15,943 4.88%