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
  • Complaints
  • 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. Their top markets by origination volume include: Houston, Dallas, Austin, San Antonio, and Colorado Springs among others. We have data for 10 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 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.

    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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    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

    1,595

    Origination Dollar Volume (All Markets)

    $532,685,000
    Show all (10) 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
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 626 $196,380,000 $313,706 $3,275 3.07%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 565 $193,885,000 $343,159 $3,166 3.08%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 225 $77,955,000 $346,467 $3,664 3.22%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 137 $48,215,000 $351,934 $4,199 2.96%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 32 $13,080,000 $408,750 $3,368 2.93%
    COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 6 $1,870,000 $311,667 $1,368 3.38%
    Breckenridge, CO (FHA|USDA|VA) 1 $515,000 $515,000 $5 2.63%
    Athens, TX (FHA|USDA|VA) 1 $475,000 $475,000 $5,038 3.25%
    Del Rio, TX (FHA|USDA|VA) 1 $165,000 $165,000 $6,306 2.50%
    Bonham, TX (FHA|USDA|VA) 1 $145,000 $145,000 $3,484 3.13%
    Priority Home Mortgage L.p.'s top markets include Houston, Dallas, Austin, San Antonio, 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.

    United Heritage Credit Union
    Similarity Rank: 657
    AVENTA Credit Union
    Similarity Rank: 915
    WESTERRA CREDIT UNION
    Similarity Rank: 1080
    Adams Bank & Trust
    Similarity Rank: 1122
    CADENCE LENDING GROUP, INC.
    Similarity Rank: 1480
    MEMBERS CHOICE Credit Union
    Similarity Rank: 1824
    AAXY L.L.C.
    Similarity Rank: 1836
    Shea Mortgage Inc.
    Similarity Rank: 1848
    TEXAS TRUST
    Similarity Rank: 1885
    ASSOCIATED CREDIT UNION OF TEXAS
    Similarity Rank: 1895

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,249 $407,065,000 $325,913 $2,340 3.11%
    VA 206 $81,640,000 $396,311 $6,845 2.86%
    FHA 140 $43,980,000 $314,143 $7,403 3.22%

    For 2020, Priority Home Mortgage L.p.'s most frequently originated type of loan was Conventional, with 1,249 originations. Their 2nd most popular type was VA, with 206 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,543 $516,065,000 $334,456 $3,336 3.08%
    Refi 44 $13,970,000 $317,500 $4,024 3.14%
    Cash Out Refi 7 $2,135,000 $305,000 $5,343 3.27%
    Home Improvement 1 $515,000 $515,000 $8,102 3.88%

    For 2020, Priority Home Mortgage L.p.'s most frequently cited loan purpose was Home Purchase, with 1,543 originations. The 2nd most popular reason was Refi, with 44 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,481 $502,095,000 $339,024 $3,462 3.11%
    15 Year 101 $27,585,000 $273,119 $2,123 2.72%
    20 Year 7 $2,005,000 $286,429 $2,643 3.27%
    10 Year 5 $675,000 $135,000 $627 2.98%
    Other 1 $325,000 $325,000 $6,596 3.38%

    For 2020, Priority Home Mortgage L.p.'s most frequently cited loan duration was 30 Year, with 1,481 originations. The 2nd most popular length was 15 Year, with 101 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,226 $404,200,000 $329,690
    $1k-2k 121 $41,825,000 $345,661
    $2k-3k 64 $20,260,000 $316,563
    $3k-4k 54 $18,990,000 $351,667
    $5k+ 45 $18,335,000 $407,444
    $4k-5k 30 $11,230,000 $374,333

    Priority Home Mortgage L.p.'s average total fees were $3,462, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,226 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 713 $233,105,000 $326,935
    2.5-3% 660 $221,390,000 $335,439
    <2.5% 186 $66,180,000 $355,806
    4-5% 36 $12,010,000 $333,611

    During 2020, Priority Home Mortgage L.p.'s average interest rate for loans was 3.11%, while their most frequently originated rate bucket for loans was 3-4%, with 713 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,109 $343,215,000 $309,482 $3,157 3.11%
    $400k-600k 368 $168,920,000 $459,022 $4,327 3.02%
    $100k-200k 95 $15,275,000 $160,789 $1,793 3.09%
    $100,000 or less 17 $1,305,000 $76,765 $536 3.07%
    $600k-1MM 6 $3,970,000 $661,667 $16,095 3.23%

    2020 saw Priority Home Mortgage L.p. place emphasis on $200k-400k loans with 1,109 originations, totaling $343,215,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 557 $189,735,000 $340,637 $3,332 3.09%
    $150k-250k 431 $161,075,000 $373,724 $3,743 3.09%
    $75k-100k 302 $93,140,000 $308,411 $3,227 3.06%
    $50k-75k 182 $45,250,000 $248,626 $2,818 3.08%
    $250k+ 101 $39,515,000 $391,238 $3,609 3.10%
    $50k or less 21 $3,515,000 $167,381 $2,000 3.25%

    Priority Home Mortgage L.p. lent most frequently to those with incomes in the $100k-150k range, with 557 originations. The second most popular income band? $150k-250k, with 431 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 322 $106,030,000 $329,286 $2,734 3.06%
    30-36% 303 $101,355,000 $334,505 $3,279 3.06%
    50-60% 99 $34,825,000 $351,768 $6,936 3.05%
    <20% 81 $25,665,000 $316,852 $2,230 2.96%
    42% 72 $23,220,000 $322,500 $2,850 3.17%
    43% 72 $23,970,000 $332,917 $3,650 3.12%
    44% 69 $23,095,000 $334,710 $2,916 3.16%
    36% 63 $20,795,000 $330,079 $2,967 3.11%
    41% 59 $20,155,000 $341,610 $3,048 3.03%
    49% 59 $19,615,000 $332,458 $3,157 3.20%
    40% 58 $19,680,000 $339,310 $4,432 3.05%
    39% 54 $17,540,000 $324,815 $2,689 3.22%
    45% 49 $16,075,000 $328,061 $3,909 3.10%
    37% 48 $17,100,000 $356,250 $3,551 3.06%
    38% 47 $16,155,000 $343,723 $2,814 3.25%
    46% 46 $15,460,000 $336,087 $2,538 3.14%
    47% 43 $15,035,000 $349,651 $3,565 3.14%
    48% 40 $12,360,000 $309,000 $3,598 3.04%
    >60% 10 $4,100,000 $410,000 $8,926 2.83%

    Priority Home Mortgage L.p. lent most frequently to those with DTI ratios of 20-30%, with 322 originations. The next most common DTI ratio? 30-36%, with 303 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 966 $314,620,000 $325,694 $3,474 3.11%
    Not provided 310 $107,130,000 $345,581 $3,431 3.06%
    Asian 182 $61,930,000 $340,275 $2,179 3.03%
    Black 108 $39,970,000 $370,093 $4,269 3.06%
    American Indian 12 $3,950,000 $329,167 $3,601 3.02%
    Asian Indian 7 $2,285,000 $326,429 $1,723 2.95%
    Native Hawaiian or Islander 3 $955,000 $318,333 $10,037 3.00%
    Vietnamese 3 $735,000 $245,000 $966 3.17%
    Filipino 2 $620,000 $310,000 $34 2.69%
    Korean 2 $490,000 $245,000 $2,134 3.31%

    Approval Rates

    Total approvals of all applications
    97.49%

    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
    74.04%

    Priority Home Mortgage L.p. has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,595 $532,685,000 $333,972

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 1,595 $532,685,000 $333,972

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 44 $5,820,000 $132,273 $1,076 3.00%
    40-60% 100 $23,520,000 $235,200 $2,211 3.05%
    60-80% 439 $143,855,000 $327,688 $2,609 3.12%
    80-100% 953 $336,605,000 $353,206 $3,324 3.09%
    Over 100% 51 $21,995,000 $431,275 $15,235 2.87%
    Under 20% 7 $435,000 $62,143 $648 3.05%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Priority Financial Network Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%