Primus Lending Corp. Mortgage Rates, Fees & Info
LOS ANGELES, CALEI: 5493007ABXGXVK31KE79
Tax ID: 95-4789675
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Mortgage Data
Review & Overview
Primus Lending Corp. is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Primus Lending Corp. has a high proportion of conventional loans. They have a a high proportion of FHA loans. Their top markets by origination volume include: Los Angeles, Riverside, Madera, and Oxnard among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Primus Lending Corp. 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. Primus Lending Corp. is typically a high 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 relatively high rates.
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Originations
21Origination Dollar Volume (All Markets)
$11,685,000Relative Rate
Primus Lending Corp.'s average 30 year fixed mortgage rate was
7.01%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.53%.
Relative Fees (Closing Costs)
Primus Lending Corp.'s average total fees/closing costs for a 30 year fixed rate
mortgage were $21,282.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
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 |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 15 | $8,995,000 | $599,667 | $22,218 | 7.10% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 4 | $1,880,000 | $470,000 | $19,757 | 6.84% |
| MADERA, CA (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $19,037 | 6.75% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $15,597 | 6.63% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against PRIMUS LENDING CORP. based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 10 | $5,620,000 | $562,000 | $16,204 | 7.19% |
| FHA | 9 | $4,975,000 | $552,778 | $27,725 | 6.81% |
| VA | 2 | $1,090,000 | $545,000 | $17,683 | 7.06% |
For 2023, Primus Lending Corp.'s most frequently originated type of loan was Conventional, with 10 originations. Their 2nd most popular type was FHA, with 9 originations.
Loan Reason
For 2023, Primus Lending Corp.'s most frequently cited loan purpose was Home Purchase, with 14 originations. The 2nd most popular reason was Cash Out Refi, with 6 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 21 | $11,685,000 | $556,429 | $21,282 | 7.01% |
For 2023, Primus Lending Corp.'s most frequently cited loan duration was 30 Year, with 21 originations.
Origination Fees/Closing Costs
Primus Lending Corp.'s average total fees were $21,282, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 16 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 13 | $7,125,000 | $548,077 |
| 7-8% | 6 | $3,390,000 | $565,000 |
| 5-6% | 1 | $665,000 | $665,000 |
| Over 8% | 1 | $505,000 | $505,000 |
During 2023, Primus Lending Corp.'s average interest rate for loans was 7.01%, while their most frequently originated rate bucket for loans was 6-7%, with 13 originations.
Loan Sizing
2023 saw Primus Lending Corp. place emphasis on $400k-600k loans with 8 originations, totaling $4,130,000 in origination value.
Applicant Income
Primus Lending Corp. lent most frequently to those with incomes in the $100k-150k range, with 8 originations. The second most popular income band? $150k-250k, with 7 originations.
Applicant Debt to Income Ratio
Primus Lending Corp. lent most frequently to those with DTI ratios of 20-30%, with 3 originations. The next most common DTI ratio? 50-60%, with 3 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.86%
Primus Lending Corp. has an average approval rate.
Pick Rate
Approvals leading to origination14.29%
Primus Lending Corp. 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 | 21 | $11,685,000 | $556,429 |