Prosperity Home Mortgage Llc

CHANTILLY, VA 20151

LEI: 5493005PKOSG7MYX0B34

Tax ID: 20-5216358

2019 Data | 2018 Data


Overview

Prosperity Home Mortgage Llc is a mid-sized mortgage company specializing in Home Purchase loans. Prosperity Home Mortgage Llc 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 Washington, Atlanta, Minneapolis, Frederick, and Baltimore 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. Prosperity Home Mortgage Llc is typically a low fee medium-low fee lendor.


Originations

21,430

Origination Dollar Volume (All Markets)

$6,153,710,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 16,697 $4,871,015,000 $291,730
FHA 2,560 $570,690,000 $222,926
VA 1,933 $668,065,000 $345,610
USDA 240 $43,940,000 $183,083

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 18,466 $5,159,810,000 $279,422
Other 93 $18,745,000 $201,559
Refi 2,106 $761,160,000 $361,425
Cash Out Refi 765 $213,995,000 $279,732

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
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 2,446 $1,093,740,000 $447,155
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 1,824 $543,920,000 $298,202
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 2,113 $541,875,000 $256,448
FREDERICK-GAITHERSBURG-ROCKVILLE, MD 839 $367,095,000 $437,539
BALTIMORE-COLUMBIA-TOWSON, MD 1,164 $366,500,000 $314,863
RICHMOND, VA 1,191 $314,495,000 $264,060
RALEIGH-CARY, NC 955 $273,055,000 $285,921
KANSAS CITY, MO-KS 1,159 $245,525,000 $211,842
Outside of Metro Areas 944 $183,570,000 $194,460
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 527 $155,115,000 $294,336
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 594 $149,110,000 $251,027
BIRMINGHAM-HOOVER, AL 535 $108,715,000 $203,206
DALLAS-PLANO-IRVING, TX 329 $102,955,000 $312,933
NEW BRUNSWICK-LAKEWOOD, NJ 328 $99,120,000 $302,195
DURHAM-CHAPEL HILL, NC 360 $91,180,000 $253,278
PHILADELPHIA, PA 348 $87,070,000 $250,201
MILWAUKEE-WAUKESHA, WI 338 $81,460,000 $241,006
JACKSONVILLE, FL 319 $75,975,000 $238,166
CHICAGO-NAPERVILLE-EVANSTON, IL 203 $62,655,000 $308,645
NEWARK, NJ-PA 155 $58,215,000 $375,581
WILMINGTON, DE-MD-NJ 212 $54,770,000 $258,349
MADISON, WI 197 $49,255,000 $250,025
CHARLOTTE-CONCORD-GASTONIA, NC-SC 178 $48,950,000 $275,000
OCEAN CITY, NJ 106 $48,590,000 $458,396
SALISBURY, MD-DE 195 $47,575,000 $243,974
LOUISVILLE/JEFFERSON COUNTY, KY-IN 248 $46,310,000 $186,734
TUCSON, AZ 179 $42,155,000 $235,503
GREENSBORO-HIGH POINT, NC 186 $37,700,000 $202,688
WINSTON-SALEM, NC 171 $37,025,000 $216,520
CHARLESTON-NORTH CHARLESTON, SC 140 $32,290,000 $230,643
BLACKSBURG-CHRISTIANSBURG, VA 161 $31,095,000 $193,137
MIAMI-MIAMI BEACH-KENDALL, FL 63 $28,455,000 $451,667
DENVER-AURORA-LAKEWOOD, CO 55 $27,775,000 $505,000
CHARLOTTESVILLE, VA 85 $23,945,000 $281,706
CINCINNATI, OH-KY-IN 129 $22,975,000 $178,101
WARREN-TROY-FARMINGTON HILLS, MI 116 $22,430,000 $193,362
ROCHESTER, MN 98 $22,020,000 $224,694
SAN JOSE-SUNNYVALE-SANTA CLARA, CA 36 $21,960,000 $610,000
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 35 $20,995,000 $599,857
ROANOKE, VA 122 $20,360,000 $166,885
HAGERSTOWN-MARTINSBURG, MD-WV 81 $17,825,000 $220,062
ATLANTIC CITY-HAMMONTON, NJ 71 $16,625,000 $234,155
FORT WORTH-ARLINGTON-GRAPEVINE, TX 56 $16,560,000 $295,714
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 52 $16,300,000 $313,462
CAMDEN, NJ 69 $16,025,000 $232,246
PITTSBURGH, PA 81 $15,015,000 $185,370
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT 66 $14,680,000 $222,424
TRENTON-PRINCETON, NJ 52 $14,120,000 $271,538
CHATTANOOGA, TN-GA 70 $13,990,000 $199,857
LYNCHBURG, VA 72 $13,200,000 $183,333
GAINESVILLE, GA 54 $13,110,000 $242,778
STAUNTON, VA 66 $11,930,000 $180,758
OMAHA-COUNCIL BLUFFS, NE-IA 66 $11,870,000 $179,848
LAKE COUNTY-KENOSHA COUNTY, IL-WI 41 $11,625,000 $283,537
LINCOLN, NE 69 $11,225,000 $162,681
SEATTLE-BELLEVUE-KENT, WA 26 $10,620,000 $408,462
LEXINGTON-FAYETTE, KY 61 $10,395,000 $170,410
ANAHEIM-SANTA ANA-IRVINE, CA 12 $8,470,000 $705,833
BRIDGEPORT-STAMFORD-NORWALK, CT 25 $8,015,000 $320,600
ST. CLOUD, MN 45 $7,945,000 $176,556
SANTA MARIA-SANTA BARBARA, CA 12 $7,810,000 $650,833
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ 32 $7,310,000 $228,438
WAUSAU-WESTON, WI 51 $7,185,000 $140,882
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 17 $6,445,000 $379,118
WINCHESTER, VA-WV 21 $6,345,000 $302,143
YORK-HANOVER, PA 28 $5,720,000 $204,286
FAYETTEVILLE, NC 27 $5,415,000 $200,556
BURLINGTON, NC 29 $5,345,000 $184,310
SPRINGFIELD, MO 37 $5,045,000 $136,351
EAU CLAIRE, WI 26 $4,840,000 $186,154
CALIFORNIA-LEXINGTON PARK, MD 17 $4,595,000 $270,294
ELIZABETHTOWN-FORT KNOX, KY 30 $4,440,000 $148,000
SALEM, OR 16 $4,250,000 $265,625
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 4 $4,160,000 $1,040,000
PHOENIX-MESA-CHANDLER, AZ 15 $4,115,000 $274,333
NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ 9 $4,095,000 $455,000
READING, PA 18 $4,040,000 $224,444
ORLANDO-KISSIMMEE-SANFORD, FL 13 $3,955,000 $304,231
LOS ANGELES-LONG BEACH-GLENDALE, CA 6 $3,810,000 $635,000
WILMINGTON, NC 13 $3,675,000 $282,692
TACOMA-LAKEWOOD, WA 4 $3,070,000 $767,500
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 13 $3,055,000 $235,000
NORTH PORT-SARASOTA-BRADENTON, FL 11 $2,985,000 $271,364
DOVER, DE 14 $2,790,000 $199,286
SUMTER, SC 16 $2,590,000 $161,875
OXNARD-THOUSAND OAKS-VENTURA, CA 6 $2,560,000 $426,667
TAMPA-ST. PETERSBURG-CLEARWATER, FL 11 $2,365,000 $215,000
SIERRA VISTA-DOUGLAS, AZ 13 $2,265,000 $174,231
LAWRENCE, KS 8 $2,050,000 $256,250
PORT ST. LUCIE, FL 11 $2,045,000 $185,909
CHAMBERSBURG-WAYNESBORO, PA 13 $2,005,000 $154,231
FOND DU LAC, WI 14 $1,990,000 $142,143
NEW HAVEN-MILFORD, CT 12 $1,980,000 $165,000
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 6 $1,970,000 $328,333
ELGIN, IL 8 $1,910,000 $238,750
OAKLAND-BERKELEY-LIVERMORE, CA 5 $1,905,000 $381,000
SHERMAN-DENISON, TX 10 $1,830,000 $183,000
JANESVILLE-BELOIT, WI 14 $1,810,000 $129,286
TUSCALOOSA, AL 11 $1,795,000 $163,182
RACINE, WI 9 $1,755,000 $195,000
NORWICH-NEW LONDON, CT 8 $1,740,000 $217,500
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 2 $1,690,000 $845,000
FLINT, MI 9 $1,585,000 $176,111
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 6 $1,560,000 $260,000
LANCASTER, PA 5 $1,545,000 $309,000
DULUTH, MN-WI 7 $1,505,000 $215,000
PALM BAY-MELBOURNE-TITUSVILLE, FL 6 $1,390,000 $231,667
FRESNO, CA 6 $1,380,000 $230,000
LA CROSSE-ONALASKA, WI-MN 7 $1,345,000 $192,143
OCALA, FL 5 $1,335,000 $267,000
HICKORY-LENOIR-MORGANTON, NC 5 $1,265,000 $253,000
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 6 $1,250,000 $208,333
SANTA CRUZ-WATSONVILLE, CA 2 $1,170,000 $585,000
ATHENS-CLARKE COUNTY, GA 6 $1,160,000 $193,333
CAPE CORAL-FORT MYERS, FL 6 $1,150,000 $191,667
DETROIT-DEARBORN-LIVONIA, MI 10 $1,140,000 $114,000
NAPLES-MARCO ISLAND, FL 4 $1,050,000 $262,500
OLYMPIA-LACEY-TUMWATER, WA 4 $1,020,000 $255,000
PROVIDENCE-WARWICK, RI-MA 3 $1,005,000 $335,000
ASHEVILLE, NC 4 $1,000,000 $250,000
GRAND RAPIDS-KENTWOOD, MI 2 $890,000 $445,000
PUNTA GORDA, FL 5 $845,000 $169,000
VINELAND-BRIDGETON, NJ 3 $785,000 $261,667
GETTYSBURG, PA 5 $785,000 $157,000
SAVANNAH, GA 2 $760,000 $380,000
MORGANTOWN, WV 2 $760,000 $380,000
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 2 $760,000 $380,000
GREENVILLE, NC 5 $735,000 $147,000
ST. JOSEPH, MO-KS 7 $735,000 $105,000
CLEVELAND, TN 5 $725,000 $145,000
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 2 $690,000 $345,000
PENSACOLA-FERRY PASS-BRENT, FL 2 $680,000 $340,000
HARRISBURG-CARLISLE, PA 4 $680,000 $170,000
SAN ANTONIO-NEW BRAUNFELS, TX 3 $675,000 $225,000
GARY, IN 2 $650,000 $325,000
GAINESVILLE, FL 3 $645,000 $215,000
CUMBERLAND, MD-WV 7 $645,000 $92,143
ROME, GA 3 $605,000 $201,667
MANKATO, MN 3 $595,000 $198,333
KNOXVILLE, TN 3 $575,000 $191,667
LAKELAND-WINTER HAVEN, FL 2 $560,000 $280,000
SALINAS, CA 1 $555,000 $555,000
SEBASTIAN-VERO BEACH, FL 2 $540,000 $270,000
SHEBOYGAN, WI 2 $520,000 $260,000
JOPLIN, MO 4 $510,000 $127,500
SCRANTON--WILKES-BARRE, PA 3 $485,000 $161,667
COLORADO SPRINGS, CO 2 $480,000 $240,000
SAN LUIS OBISPO-PASO ROBLES, CA 1 $475,000 $475,000
HUNTINGTON-ASHLAND, WV-KY-OH 1 $475,000 $475,000
LANSING-EAST LANSING, MI 4 $460,000 $115,000
MONTGOMERY, AL 3 $445,000 $148,333
NILES, MI 2 $440,000 $220,000
ST. LOUIS, MO-IL 3 $425,000 $141,667
COLLEGE STATION-BRYAN, TX 1 $405,000 $405,000
KALAMAZOO-PORTAGE, MI 2 $400,000 $200,000
HUNTSVILLE, AL 2 $390,000 $195,000
WENATCHEE, WA 1 $385,000 $385,000
SAGINAW, MI 2 $360,000 $180,000
STATE COLLEGE, PA 1 $355,000 $355,000
BOULDER, CO 1 $355,000 $355,000
INDIANAPOLIS-CARMEL-ANDERSON, IN 2 $350,000 $175,000
DAYTON-KETTERING, OH 3 $345,000 $115,000
WORCESTER, MA-CT 2 $340,000 $170,000
HILTON HEAD ISLAND-BLUFFTON, SC 2 $330,000 $165,000
MERCED, CA 1 $295,000 $295,000
WARNER ROBINS, GA 2 $290,000 $145,000
FLORENCE-MUSCLE SHOALS, AL 2 $290,000 $145,000
BATON ROUGE, LA 1 $265,000 $265,000
PRESCOTT VALLEY-PRESCOTT, AZ 1 $245,000 $245,000
TOPEKA, KS 1 $245,000 $245,000
HARRISONBURG, VA 1 $245,000 $245,000
THE VILLAGES, FL 1 $235,000 $235,000
MANHATTAN, KS 1 $235,000 $235,000
JACKSONVILLE, NC 1 $235,000 $235,000
CHAMPAIGN-URBANA, IL 1 $225,000 $225,000
WICHITA, KS 1 $215,000 $215,000
GADSDEN, AL 2 $210,000 $105,000
ERIE, PA 1 $205,000 $205,000
JOHNSON CITY, TN 1 $205,000 $205,000
AMARILLO, TX 1 $205,000 $205,000
OSHKOSH-NEENAH, WI 2 $200,000 $100,000
MONROE, MI 1 $195,000 $195,000
AUSTIN-ROUND ROCK-GEORGETOWN, TX 1 $195,000 $195,000
ALBANY-LEBANON, OR 1 $195,000 $195,000
DALTON, GA 1 $195,000 $195,000
TULSA, OK 1 $185,000 $185,000
JEFFERSON CITY, MO 1 $185,000 $185,000
SPRINGFIELD, MA 1 $175,000 $175,000
ROCKY MOUNT, NC 2 $170,000 $85,000
JOHNSTOWN, PA 1 $165,000 $165,000
DECATUR, AL 1 $165,000 $165,000
GRAND ISLAND, NE 1 $155,000 $155,000
COLUMBIA, MO 1 $145,000 $145,000
COLUMBIA, SC 1 $145,000 $145,000
LAKE HAVASU CITY-KINGMAN, AZ 1 $135,000 $135,000
FARGO, ND-MN 1 $135,000 $135,000
MOBILE, AL 1 $135,000 $135,000
AUGUSTA-RICHMOND COUNTY, GA-SC 1 $125,000 $125,000
ABILENE, TX 1 $125,000 $125,000
EAST STROUDSBURG, PA 1 $115,000 $115,000
YUMA, AZ 1 $115,000 $115,000
GREENVILLE-ANDERSON, SC 1 $115,000 $115,000
AUBURN-OPELIKA, AL 1 $105,000 $105,000
MICHIGAN CITY-LA PORTE, IN 1 $95,000 $95,000
APPLETON, WI 1 $85,000 $85,000
OWENSBORO, KY 1 $85,000 $85,000
BRUNSWICK, GA 1 $75,000 $75,000
BOWLING GREEN, KY 1 $75,000 $75,000
MACON-BIBB COUNTY, GA 1 $55,000 $55,000
ALBANY, GA 1 $55,000 $55,000
ALTOONA, PA 1 $35,000 $35,000

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% 147 $795,000 $5,408
2.5-3% 144 $45,740,000 $317,639
3-4% 12,549 $3,863,365,000 $307,862
4-5% 7,711 $2,069,195,000 $268,343
5-6% 815 $161,455,000 $198,104
6-7% 55 $9,785,000 $177,909
7-8% 4 $1,500,000 $375,000
Over 8% 5 $1,875,000 $375,000

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 1,380 $67,930,000 $49,225
$100k-200k 5,758 $899,660,000 $156,245
$200k-400k 10,208 $2,881,530,000 $282,282
$400k-600k 2,893 $1,372,935,000 $474,571
$600k-1000k 1,039 $737,545,000 $709,860
$Over $1MM 152 $194,110,000 $1,277,039

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% 432 $71,580,000 $165,694
40-60% 1,279 $333,105,000 $260,442
60-80% 5,984 $1,943,110,000 $324,718
80-100% 12,819 $3,681,375,000 $287,181
Over 100% 321 $116,085,000 $361,636
Under 20% 595 $8,455,000 $14,210

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 4,824 $1,543,520,000 $319,967
$150k-250k 3,344 $1,389,580,000 $415,544
$50k-75k 5,047 $1,003,765,000 $198,883
$50k-or less 2,921 $428,265,000 $146,616
$75k-100k 3,887 $988,895,000 $254,411
$Over $250k 1,320 $771,060,000 $584,136

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 17,029 $4,827,145,000 $283,466
Not provided 1,944 $630,010,000 $324,079
Black 1,481 $372,595,000 $251,583
Asian 868 $295,800,000 $340,783
American Indian 84 $19,730,000 $234,881
Native Hawaiian 24 $8,430,000 $351,250

Approval Rates

Total approvals of all applications
97.36%

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
76.37%

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 21,430 $6,153,710,000 $287,154

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 6,497 $1,531,175,000 $235,674
$1k-2k 11,987 $3,581,715,000 $298,800
$2k-3k 1,597 $483,105,000 $302,508
$3k-4k 897 $329,235,000 $367,040
$5k+ 452 $228,480,000 $505,487

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 131 $16,235,000 $123,931
Single Family (1-4 Units):Site-Built 21,299 $6,137,475,000 $288,158