Primary Residential Mortgage Inc.

SALT LAKE CITY, UT 84088

LEI: 54930052M48FOD3CWA54

Tax ID: 86-0860478

2019 Data | 2018 Data


Overview

Primary Residential Mortgage Inc. is a mid-sized mortgage company specializing in Home Purchase loans. Primary Residential Mortgage Inc. 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 include Baltimore, Phoenix, Denver, Atlanta, and Miami among others. They have an above average approval rate for mortages when compared nationally -- and they have a below average pick rate when compared to the same sample of other lendors. Primary Residential Mortgage Inc. is typically a medium-low fee high fee lendor.


Originations

25,915

Origination Dollar Volume (All Markets)

$6,171,015,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 15,430 $3,742,940,000 $242,576
FHA 7,694 $1,706,100,000 $221,744
VA 2,062 $612,140,000 $296,867
USDA 729 $109,835,000 $150,665

Conventional loans are assumed to be 20% downpayment and either fixed/adjustable rate. FHA loans start at 3.5% downpayment and are targeted towards first time homebuyers who will be owner-occupants. USDA loans target agrarian uses such as farms. VA loans are available to members of the military. FHA, USDA and VA loans are typically subsidized by the government so as to have more favorable terms for the borrower.

Loan Reason

Loan Reason Originations Total Value Average Loan
Home Purchase 19,388 $4,303,890,000 $221,987
Home Improvement 18 $4,430,000 $246,111
Other 43 $7,515,000 $174,767
Refi 3,933 $1,177,365,000 $299,355
Cash Out Refi 2,533 $677,815,000 $267,594

Home purchase and refinance loans are typically offered by even the most prudent banks. Cash out refi loans typically carry higher fees-- they allow homeowners to get loans against the equity (appreciated value) of their home, but can be used irresponsibly. Lendors with a high ratio of cash out refi loans may be exposed in the event of an economic downturn, and may be more aggressive with their fee schedules.

Top Markets

Market Originations Total Value Average Loan
BALTIMORE-COLUMBIA-TOWSON, MD 2,400 $618,210,000 $257,588
Outside of Metro Areas 2,488 $414,610,000 $166,644
PHOENIX-MESA-CHANDLER, AZ 1,403 $357,145,000 $254,558
DENVER-AURORA-LAKEWOOD, CO 795 $199,605,000 $251,075
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 1,049 $196,325,000 $187,154
MIAMI-MIAMI BEACH-KENDALL, FL 606 $167,670,000 $276,683
PROVIDENCE-WARWICK, RI-MA 791 $163,125,000 $206,226
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 525 $148,485,000 $282,829
CHARLOTTE-CONCORD-GASTONIA, NC-SC 616 $145,950,000 $236,932
SEATTLE-BELLEVUE-KENT, WA 335 $139,345,000 $415,955
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 368 $118,230,000 $321,277
OGDEN-CLEARFIELD, UT 454 $114,440,000 $252,070
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 465 $111,625,000 $240,054
URBAN HONOLULU, HI 222 $103,960,000 $468,288
TAMPA-ST. PETERSBURG-CLEARWATER, FL 431 $89,145,000 $206,833
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 309 $89,105,000 $288,366
DALLAS-PLANO-IRVING, TX 319 $87,065,000 $272,931
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 312 $83,090,000 $266,314
SALT LAKE CITY, UT 282 $78,120,000 $277,021
ALBUQUERQUE, NM 372 $75,540,000 $203,065
GREELEY, CO 302 $74,670,000 $247,252
RALEIGH-CARY, NC 288 $73,840,000 $256,389
ORLANDO-KISSIMMEE-SANFORD, FL 295 $69,035,000 $234,017
LAS VEGAS-HENDERSON-PARADISE, NV 257 $67,585,000 $262,977
COLORADO SPRINGS, CO 334 $66,220,000 $198,263
CAPE CORAL-FORT MYERS, FL 325 $65,065,000 $200,200
NEW HAVEN-MILFORD, CT 240 $58,620,000 $244,250
TACOMA-LAKEWOOD, WA 180 $56,650,000 $314,722
PALM BAY-MELBOURNE-TITUSVILLE, FL 251 $54,915,000 $218,785
OAKLAND-BERKELEY-LIVERMORE, CA 110 $54,080,000 $491,636
PROVO-OREM, UT 169 $52,665,000 $311,627
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT 245 $51,895,000 $211,816
MODESTO, CA 168 $48,580,000 $289,167
WILMINGTON, DE-MD-NJ 269 $47,885,000 $178,011
NEW BRUNSWICK-LAKEWOOD, NJ 170 $46,590,000 $274,059
BOISE CITY, ID 200 $44,200,000 $221,000
GRAND JUNCTION, CO 175 $43,465,000 $248,371
PORT ST. LUCIE, FL 187 $42,425,000 $226,872
NEWARK, NJ-PA 133 $40,605,000 $305,301
LAKELAND-WINTER HAVEN, FL 216 $37,490,000 $173,565
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 163 $37,105,000 $227,638
LOS ANGELES-LONG BEACH-GLENDALE, CA 65 $35,595,000 $547,615
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 136 $35,590,000 $261,691
ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH 117 $34,735,000 $296,880
PENSACOLA-FERRY PASS-BRENT, FL 177 $34,015,000 $192,175
ANCHORAGE, AK 127 $34,005,000 $267,756
NAPLES-MARCO ISLAND, FL 111 $33,985,000 $306,171
FORT WORTH-ARLINGTON-GRAPEVINE, TX 146 $31,970,000 $218,973
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 41 $30,645,000 $747,439
STOCKTON, CA 123 $29,195,000 $237,358
LAKE HAVASU CITY-KINGMAN, AZ 132 $29,150,000 $220,833
SAN RAFAEL, CA 37 $27,785,000 $750,946
VALLEJO, CA 89 $27,235,000 $306,011
SACRAMENTO-ROSEVILLE-FOLSOM, CA 96 $26,780,000 $278,958
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 59 $26,515,000 $449,407
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 95 $25,315,000 $266,474
FREDERICK-GAITHERSBURG-ROCKVILLE, MD 67 $23,625,000 $352,612
LOUISVILLE/JEFFERSON COUNTY, KY-IN 128 $23,330,000 $182,266
OLYMPIA-LACEY-TUMWATER, WA 71 $23,035,000 $324,437
BREMERTON-SILVERDALE-PORT ORCHARD, WA 76 $22,790,000 $299,868
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR 136 $21,840,000 $160,588
CALIFORNIA-LEXINGTON PARK, MD 76 $21,290,000 $280,132
BATON ROUGE, LA 102 $20,520,000 $201,176
RENO, NV 70 $19,940,000 $284,857
VISALIA, CA 97 $18,485,000 $190,567
CLEVELAND-ELYRIA, OH 108 $18,230,000 $168,796
PORTLAND-SOUTH PORTLAND, ME 72 $17,990,000 $249,861
CORPUS CHRISTI, TX 119 $17,375,000 $146,008
MERCED, CA 68 $17,290,000 $254,265
NAPA, CA 45 $16,705,000 $371,222
CHATTANOOGA, TN-GA 87 $16,615,000 $190,977
WORCESTER, MA-CT 67 $16,535,000 $246,791
COLUMBUS, GA-AL 84 $16,400,000 $195,238
SANTA ROSA-PETALUMA, CA 43 $16,005,000 $372,209
DURHAM-CHAPEL HILL, NC 58 $15,580,000 $268,621
FORT COLLINS, CO 59 $14,515,000 $246,017
HARRISONBURG, VA 65 $14,065,000 $216,385
AUBURN-OPELIKA, AL 67 $13,955,000 $208,284
GREENVILLE-ANDERSON, SC 79 $13,235,000 $167,532
EUGENE-SPRINGFIELD, OR 50 $12,450,000 $249,000
NORTH PORT-SARASOTA-BRADENTON, FL 45 $12,295,000 $273,222
CAMBRIDGE-NEWTON-FRAMINGHAM, MA 33 $12,215,000 $370,152
BOSTON, MA 36 $12,180,000 $338,333
SAN LUIS OBISPO-PASO ROBLES, CA 28 $11,860,000 $423,571
COLUMBUS, OH 76 $11,670,000 $153,553
ALEXANDRIA, LA 68 $11,630,000 $171,029
DAYTON-KETTERING, OH 83 $11,455,000 $138,012
LOGAN, UT-ID 54 $11,430,000 $211,667
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 50 $11,380,000 $227,600
WICHITA, KS 78 $11,120,000 $142,564
ST. GEORGE, UT 40 $10,780,000 $269,500
TYLER, TX 55 $10,655,000 $193,727
JACKSONVILLE, FL 62 $10,430,000 $168,226
PHILADELPHIA, PA 42 $9,760,000 $232,381
HOT SPRINGS, AR 59 $9,275,000 $157,203
ATHENS-CLARKE COUNTY, GA 48 $9,060,000 $188,750
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 46 $8,770,000 $190,652
INDIANAPOLIS-CARMEL-ANDERSON, IN 44 $8,610,000 $195,682
YORK-HANOVER, PA 40 $8,600,000 $215,000
NORWICH-NEW LONDON, CT 46 $8,540,000 $185,652
DOVER, DE 41 $8,515,000 $207,683
FRESNO, CA 35 $8,335,000 $238,143
WALLA WALLA, WA 31 $8,115,000 $261,774
BROWNSVILLE-HARLINGEN, TX 56 $8,080,000 $144,286
BRIDGEPORT-STAMFORD-NORWALK, CT 25 $8,015,000 $320,600
LONGVIEW, WA 26 $7,790,000 $299,615
CHARLESTON-NORTH CHARLESTON, SC 33 $7,175,000 $217,424
CAMDEN, NJ 62 $7,040,000 $113,548
CINCINNATI, OH-KY-IN 36 $7,000,000 $194,444
SALISBURY, MD-DE 33 $6,905,000 $209,242
MANCHESTER-NASHUA, NH 32 $6,700,000 $209,375
MCALLEN-EDINBURG-MISSION, TX 42 $6,590,000 $156,905
NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ 19 $6,525,000 $343,421
BAKERSFIELD, CA 31 $6,195,000 $199,839
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 11 $5,895,000 $535,909
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 25 $5,845,000 $233,800
PUEBLO, CO 54 $5,690,000 $105,370
GARY, IN 33 $5,685,000 $172,273
NEW ORLEANS-METAIRIE, LA 24 $5,420,000 $225,833
SPARTANBURG, SC 31 $5,305,000 $171,129
KNOXVILLE, TN 23 $5,235,000 $227,609
HOMOSASSA SPRINGS, FL 36 $5,130,000 $142,500
AUSTIN-ROUND ROCK-GEORGETOWN, TX 22 $5,050,000 $229,545
ANAHEIM-SANTA ANA-IRVINE, CA 8 $5,000,000 $625,000
PRESCOTT VALLEY-PRESCOTT, AZ 27 $4,945,000 $183,148
BOULDER, CO 16 $4,890,000 $305,625
MOUNT VERNON-ANACORTES, WA 12 $4,330,000 $360,833
BANGOR, ME 29 $4,255,000 $146,724
STAUNTON, VA 23 $4,195,000 $182,391
PUNTA GORDA, FL 21 $4,145,000 $197,381
WINSTON-SALEM, NC 25 $3,975,000 $159,000
EVANSVILLE, IN-KY 29 $3,905,000 $134,655
SEBASTIAN-VERO BEACH, FL 17 $3,705,000 $217,941
COLLEGE STATION-BRYAN, TX 15 $3,705,000 $247,000
WENATCHEE, WA 9 $3,595,000 $399,444
OXNARD-THOUSAND OAKS-VENTURA, CA 6 $3,570,000 $595,000
HICKORY-LENOIR-MORGANTON, NC 26 $3,540,000 $136,154
LAS CRUCES, NM 23 $3,535,000 $153,696
BEND, OR 12 $3,520,000 $293,333
MADERA, CA 14 $3,370,000 $240,714
KANSAS CITY, MO-KS 20 $3,290,000 $164,500
BARNSTABLE TOWN, MA 5 $3,265,000 $653,000
CHICAGO-NAPERVILLE-EVANSTON, IL 17 $3,245,000 $190,882
SAN ANTONIO-NEW BRAUNFELS, TX 13 $3,215,000 $247,308
MEMPHIS, TN-MS-AR 19 $3,195,000 $168,158
CARSON CITY, NV 13 $3,115,000 $239,615
SEBRING-AVON PARK, FL 22 $3,040,000 $138,182
KENNEWICK-RICHLAND, WA 10 $3,040,000 $304,000
SPRINGFIELD, MA 14 $3,040,000 $217,143
TULSA, OK 19 $2,975,000 $156,579
BURLINGTON, NC 12 $2,940,000 $245,000
DAPHNE-FAIRHOPE-FOLEY, AL 14 $2,930,000 $209,286
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ 12 $2,920,000 $243,333
TUCSON, AZ 15 $2,895,000 $193,000
MADISON, WI 14 $2,880,000 $205,714
HILTON HEAD ISLAND-BLUFFTON, SC 11 $2,845,000 $258,636
WARREN-TROY-FARMINGTON HILLS, MI 13 $2,805,000 $215,769
MISSOULA, MT 9 $2,765,000 $307,222
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 12 $2,760,000 $230,000
MIDLAND, TX 9 $2,755,000 $306,111
ST. LOUIS, MO-IL 18 $2,740,000 $152,222
FORT WAYNE, IN 16 $2,730,000 $170,625
SANTA FE, NM 11 $2,535,000 $230,455
EAST STROUDSBURG, PA 16 $2,500,000 $156,250
APPLETON, WI 15 $2,485,000 $165,667
TEXARKANA, TX-AR 18 $2,460,000 $136,667
CLARKSVILLE, TN-KY 15 $2,455,000 $163,667
OSHKOSH-NEENAH, WI 21 $2,405,000 $114,524
SPOKANE-SPOKANE VALLEY, WA 9 $2,395,000 $266,111
FAYETTEVILLE, NC 14 $2,390,000 $170,714
ASHEVILLE, NC 8 $2,360,000 $295,000
FAYETTEVILLE-SPRINGDALE-ROGERS, AR 14 $2,320,000 $165,714
OCALA, FL 16 $2,290,000 $143,125
SALEM, OR 11 $2,275,000 $206,818
OKLAHOMA CITY, OK 13 $2,205,000 $169,615
YAKIMA, WA 12 $2,200,000 $183,333
KAHULUI-WAILUKU-LAHAINA, HI 5 $2,195,000 $439,000
PINE BLUFF, AR 16 $2,110,000 $131,875
FLAGSTAFF, AZ 7 $2,105,000 $300,714
COLUMBIA, SC 14 $2,070,000 $147,857
BOWLING GREEN, KY 14 $2,070,000 $147,857
AKRON, OH 13 $2,065,000 $158,846
READING, PA 14 $1,940,000 $138,571
WILMINGTON, NC 7 $1,915,000 $273,571
MONROE, LA 10 $1,900,000 $190,000
LAFAYETTE, LA 12 $1,860,000 $155,000
SALINAS, CA 4 $1,830,000 $457,500
HAGERSTOWN-MARTINSBURG, MD-WV 9 $1,825,000 $202,778
ELGIN, IL 10 $1,810,000 $181,000
LAFAYETTE-WEST LAFAYETTE, IN 11 $1,785,000 $162,273
SPRINGFIELD, OH 13 $1,755,000 $135,000
MACON-BIBB COUNTY, GA 13 $1,755,000 $135,000
GAINESVILLE, FL 9 $1,745,000 $193,889
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 7 $1,705,000 $243,571
RICHMOND, VA 6 $1,680,000 $280,000
CLEVELAND, TN 7 $1,615,000 $230,714
WACO, TX 8 $1,560,000 $195,000
GETTYSBURG, PA 7 $1,525,000 $217,857
SAVANNAH, GA 7 $1,445,000 $206,429
LANCASTER, PA 6 $1,410,000 $235,000
BIRMINGHAM-HOOVER, AL 8 $1,410,000 $176,250
GAINESVILLE, GA 8 $1,390,000 $173,750
GREENSBORO-HIGH POINT, NC 8 $1,380,000 $172,500
LONGVIEW, TX 9 $1,375,000 $152,778
AMARILLO, TX 6 $1,360,000 $226,667
CANTON-MASSILLON, OH 10 $1,350,000 $135,000
AUGUSTA-RICHMOND COUNTY, GA-SC 7 $1,305,000 $186,429
MOBILE, AL 11 $1,285,000 $116,818
FORT SMITH, AR-OK 7 $1,215,000 $173,571
BELLINGHAM, WA 4 $1,170,000 $292,500
BRUNSWICK, GA 5 $1,165,000 $233,000
MILWAUKEE-WAUKESHA, WI 7 $1,155,000 $165,000
DETROIT-DEARBORN-LIVONIA, MI 14 $1,150,000 $82,143
TRENTON-PRINCETON, NJ 6 $1,120,000 $186,667
PANAMA CITY, FL 5 $1,095,000 $219,000
GREEN BAY, WI 9 $1,095,000 $121,667
LEXINGTON-FAYETTE, KY 7 $1,075,000 $153,571
SANTA MARIA-SANTA BARBARA, CA 3 $1,055,000 $351,667
JONESBORO, AR 10 $1,010,000 $101,000
TOPEKA, KS 6 $990,000 $165,000
LAKE COUNTY-KENOSHA COUNTY, IL-WI 6 $950,000 $158,333
GRAND RAPIDS-KENTWOOD, MI 6 $880,000 $146,667
TOLEDO, OH 5 $875,000 $175,000
JACKSON, TN 5 $845,000 $169,000
BLOOMINGTON, IN 6 $830,000 $138,333
WARNER ROBINS, GA 3 $825,000 $275,000
OCEAN CITY, NJ 2 $780,000 $390,000
MANHATTAN, KS 4 $750,000 $187,500
LEWISTON-AUBURN, ME 4 $740,000 $185,000
SANTA CRUZ-WATSONVILLE, CA 2 $740,000 $370,000
LUBBOCK, TX 5 $735,000 $147,000
CHARLOTTESVILLE, VA 3 $735,000 $245,000
GRAND FORKS, ND-MN 7 $725,000 $103,571
REDDING, CA 4 $720,000 $180,000
SHERMAN-DENISON, TX 3 $715,000 $238,333
ATLANTIC CITY-HAMMONTON, NJ 3 $715,000 $238,333
IDAHO FALLS, ID 3 $705,000 $235,000
PITTSFIELD, MA 5 $705,000 $141,000
SHEBOYGAN, WI 5 $705,000 $141,000
SIERRA VISTA-DOUGLAS, AZ 4 $690,000 $172,500
EL CENTRO, CA 4 $680,000 $170,000
TALLAHASSEE, FL 4 $670,000 $167,500
THE VILLAGES, FL 3 $655,000 $218,333
YUBA CITY, CA 2 $640,000 $320,000
HUNTSVILLE, AL 4 $630,000 $157,500
CASPER, WY 3 $625,000 $208,333
STATE COLLEGE, PA 1 $565,000 $565,000
SHREVEPORT-BOSSIER CITY, LA 3 $555,000 $185,000
KALAMAZOO-PORTAGE, MI 3 $515,000 $171,667
TUSCALOOSA, AL 3 $515,000 $171,667
ROCKY MOUNT, NC 3 $495,000 $165,000
HAMMOND, LA 3 $495,000 $165,000
EAU CLAIRE, WI 4 $490,000 $122,500
SOUTH BEND-MISHAWAKA, IN-MI 4 $480,000 $120,000
ALBANY-LEBANON, OR 2 $480,000 $240,000
CHICO, CA 2 $470,000 $235,000
FLORENCE, SC 4 $460,000 $115,000
PITTSBURGH, PA 3 $455,000 $151,667
TWIN FALLS, ID 2 $450,000 $225,000
JACKSON, MS 3 $445,000 $148,333
VICTORIA, TX 4 $430,000 $107,500
MEDFORD, OR 2 $430,000 $215,000
BATTLE CREEK, MI 3 $415,000 $138,333
GOLDSBORO, NC 2 $410,000 $205,000
HARRISBURG-CARLISLE, PA 2 $400,000 $200,000
CARBONDALE-MARION, IL 3 $395,000 $131,667
LAWRENCE, KS 2 $380,000 $190,000
ODESSA, TX 2 $370,000 $185,000
SCRANTON--WILKES-BARRE, PA 3 $355,000 $118,333
LAKE CHARLES, LA 2 $350,000 $175,000
NEW BERN, NC 2 $350,000 $175,000
SAGINAW, MI 1 $345,000 $345,000
BISMARCK, ND 1 $345,000 $345,000
LYNCHBURG, VA 3 $345,000 $115,000
NILES, MI 2 $340,000 $170,000
MANSFIELD, OH 3 $325,000 $108,333
KINGSPORT-BRISTOL, TN-VA 3 $325,000 $108,333
OMAHA-COUNCIL BLUFFS, NE-IA 1 $315,000 $315,000
FAIRBANKS, AK 1 $305,000 $305,000
WAUSAU-WESTON, WI 2 $300,000 $150,000
LANSING-EAST LANSING, MI 2 $290,000 $145,000
KILLEEN-TEMPLE, TX 2 $290,000 $145,000
ROANOKE, VA 1 $265,000 $265,000
WINCHESTER, VA-WV 2 $260,000 $130,000
MORRISTOWN, TN 3 $255,000 $85,000
HATTIESBURG, MS 2 $250,000 $125,000
ABILENE, TX 2 $250,000 $125,000
MANKATO, MN 1 $245,000 $245,000
SAN ANGELO, TX 2 $240,000 $120,000
RACINE, WI 1 $235,000 $235,000
SUMTER, SC 1 $225,000 $225,000
DES MOINES-WEST DES MOINES, IA 1 $225,000 $225,000
ROME, GA 2 $220,000 $110,000
HINESVILLE, GA 2 $220,000 $110,000
HANFORD-CORCORAN, CA 1 $215,000 $215,000
TERRE HAUTE, IN 2 $210,000 $105,000
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA 2 $210,000 $105,000
VALDOSTA, GA 2 $210,000 $105,000
JOHNSTOWN, PA 1 $205,000 $205,000
AMES, IA 1 $205,000 $205,000
IOWA CITY, IA 1 $205,000 $205,000
GREAT FALLS, MT 1 $205,000 $205,000
HUNTINGTON-ASHLAND, WV-KY-OH 1 $195,000 $195,000
BEAUMONT-PORT ARTHUR, TX 1 $195,000 $195,000
CEDAR RAPIDS, IA 1 $195,000 $195,000
COLUMBUS, IN 1 $195,000 $195,000
FOND DU LAC, WI 2 $190,000 $95,000
JANESVILLE-BELOIT, WI 1 $185,000 $185,000
MUSKEGON, MI 1 $185,000 $185,000
POCATELLO, ID 1 $185,000 $185,000
GRANTS PASS, OR 1 $185,000 $185,000
SPRINGFIELD, MO 1 $175,000 $175,000
SIOUX FALLS, SD 1 $175,000 $175,000
VINELAND-BRIDGETON, NJ 2 $170,000 $85,000
OWENSBORO, KY 2 $170,000 $85,000
CORVALLIS, OR 1 $165,000 $165,000
DALTON, GA 1 $165,000 $165,000
JOHNSON CITY, TN 1 $165,000 $165,000
MICHIGAN CITY-LA PORTE, IN 1 $155,000 $155,000
LEBANON, PA 1 $155,000 $155,000
FARMINGTON, NM 1 $145,000 $145,000
MONTGOMERY, AL 1 $135,000 $135,000
ROCHESTER, MN 1 $125,000 $125,000
FARGO, ND-MN 1 $125,000 $125,000
DUBUQUE, IA 1 $125,000 $125,000
JACKSONVILLE, NC 1 $115,000 $115,000
WATERLOO-CEDAR FALLS, IA 1 $115,000 $115,000
JACKSON, MI 1 $105,000 $105,000
PEORIA, IL 1 $105,000 $105,000
ANNISTON-OXFORD, AL 1 $105,000 $105,000
DOTHAN, AL 1 $95,000 $95,000
WICHITA FALLS, TX 1 $95,000 $95,000
GULFPORT-BILOXI, MS 1 $85,000 $85,000
HOUMA-THIBODAUX, LA 1 $85,000 $85,000
DULUTH, MN-WI 1 $85,000 $85,000
DECATUR, AL 1 $75,000 $75,000
LAWTON, OK 1 $75,000 $75,000
ALBANY, GA 1 $75,000 $75,000
BLOOMINGTON, IL 1 $75,000 $75,000
ROCKFORD, IL 1 $45,000 $45,000
FLINT, MI 1 $15,000 $15,000

Lendors vary in competitiveness at the per market level-- meaning they may have better terms, deals or promotions based on the mortgaged property's location.

Interest Rate & Spreads

Loan Rate Originations Total Value Average Loan
<2.5% 1,379 $13,025,000 $9,445
2.5-3% 103 $23,925,000 $232,282
3-4% 8,600 $2,437,000,000 $283,372
4-5% 11,852 $2,898,380,000 $244,548
5-6% 3,598 $740,780,000 $205,887
6-7% 293 $52,975,000 $180,802
7-8% 87 $3,075,000 $35,345
Over 8% 3 $1,855,000 $618,333

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 3,257 $127,225,000 $39,062
$100k-200k 7,711 $1,194,265,000 $154,878
$200k-400k 12,087 $3,374,585,000 $279,191
$400k-600k 2,386 $1,112,110,000 $466,098
$600k-1000k 426 $301,150,000 $706,925
$Over $1MM 48 $61,680,000 $1,285,000

Different banks have different objectives. Some banks focus solely on high net worth individuals. Others focus on FHA loans for lower income applicants. Knowing what a bank specializes in allows better optimization given the applicant's financial situation.

LTV Distribution

Loan to Value Originations Total Value Average Loan
20-40% 380 $67,730,000 $178,237
40-60% 1,248 $312,510,000 $250,409
60-80% 5,176 $1,432,200,000 $276,700
80-100% 16,670 $4,170,740,000 $250,194
Over 100% 563 $166,805,000 $296,279
Under 20% 1,878 $21,030,000 $11,198

LTV, or loan-to-value, is the amount loaned relative to a home's value. Lower LTV lending implies a larger downpayment-- reducing risk to the lendor. FHA loans will nearly always have a higher LTV due to the lower downpayment requirements. Higher LTVs may also mean a bank is charging higher fees or interest rates to compensate for their risk exposure.

Applicant Income

Applicant Income Originations Total Value Average Loan
$100k-150k 4,515 $1,366,405,000 $302,637
$150k-250k 2,305 $876,055,000 $380,067
$50k-75k 7,579 $1,443,095,000 $190,407
$50k-or less 5,155 $743,945,000 $144,315
$75k-100k 4,862 $1,181,070,000 $242,919
$Over $250k 751 $365,145,000 $486,212

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 20,033 $4,768,275,000 $238,021
Black 2,657 $563,995,000 $212,268
Not provided 2,168 $531,910,000 $245,346
Asian 697 $216,405,000 $310,481
American Indian 214 $43,340,000 $202,523
Native Hawaiian 56 $19,180,000 $342,500
Asian Indian 26 $8,010,000 $308,077
Other Asian 19 $6,925,000 $364,474
Filipino 18 $5,250,000 $291,667
Japanese 5 $1,575,000 $315,000
Other Pacific Islander 5 $1,565,000 $313,000
Korean 5 $1,425,000 $285,000
Chinese 4 $1,110,000 $277,500
4 $780,000 $195,000
Guamanian 2 $520,000 $260,000
Native Hawiian 1 $515,000 $515,000
Vietnamese 1 $235,000 $235,000

Approval Rates

Total approvals of all applications
92.52%

A high approval rate means banks are more selective in who they market to or that they are loosey-goosey with who they lend to. Low approval rates may mean a lendor is more stringent in their lending standards.

Pick Rate

Approvals leading to origination
69.87%

A bank's pick rate is how often they are chosen by an applicant once approved. A high pick rate typically means the bank has some sort of advantage-- either the best terms (rates/fees), fastest closing time or even the best customer service. Banks with <75% pick rate may need further investigation as to why they are not more competitive.

Points and Fees

Points Originations Total Value Average Loan
NA 25,915 $6,171,015,000 $238,125

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 4,656 $742,400,000 $159,450
$1k-2k 8,433 $2,119,245,000 $251,304
$2k-3k 4,157 $855,845,000 $205,880
$3k-4k 5,849 $1,456,135,000 $248,955
$5k+ 2,611 $959,295,000 $367,405

Banks make money on their float/interest spread (fees charged to borrowers vs fees they pay for their capital), for servicing loans, as well as charging origination fees when a loan is disbursed. Modern low-cost efficient lendors can have fees totaling less than $500 for many mortgages-- as low as $250 in some cases. Average lendors will be in the $1k-2k range and high cost lendors will be even more. The costs incurred by the bank will be similar no matter the loan amount, so this is to be viewed as a profit center for most banks.

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
Single Family (1-4 Units):Manufactured 305 $43,495,000 $142,607
Single Family (1-4 Units):Site-Built 25,610 $6,127,520,000 $239,263