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. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Los Angeles, Riverside, San Diego, and Bakersfield 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 about average rates.
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Originations
70Origination Dollar Volume (All Markets)
$25,720,000Top 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) | 57 | $21,605,000 | $379,035 | $11,749 | 4.75% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 11 | $3,635,000 | $330,455 | $10,850 | 5.10% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $7,694 | 4.50% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $7,050 | 4.38% |
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
For 2018, Primus Lending Corp.'s most frequently originated type of loan was Conventional, with 41 originations. Their 2nd most popular type was FHA, with 25 originations.
Loan Reason
For 2018, Primus Lending Corp.'s most frequently cited loan purpose was Home Purchase, with 41 originations. The 2nd most popular reason was Cash Out Refi, with 24 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 66 | $24,570,000 | $372,273 | $11,507 | 4.83% |
| 20 Year | 2 | $710,000 | $355,000 | $10,428 | 4.74% |
| Other | 2 | $440,000 | $220,000 | $0 | 3.67% |
For 2018, Primus Lending Corp.'s most frequently cited loan duration was 30 Year, with 66 originations. The 2nd most popular length was 20 Year, with 2 originations.
Origination Fees/Closing Costs
Primus Lending Corp.'s average total fees were $11,507, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 26 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 42 | $15,570,000 | $370,714 |
| 5-6% | 25 | $9,465,000 | $378,600 |
| 3-4% | 2 | $450,000 | $225,000 |
| <2.5% | 1 | $235,000 | $235,000 |
During 2018, Primus Lending Corp.'s average interest rate for loans was 4.83%, while their most frequently originated rate bucket for loans was 4-5%, with 42 originations.
Loan Sizing
2018 saw Primus Lending Corp. place emphasis on $200k-400k loans with 39 originations, totaling $11,535,000 in origination value.
Applicant Income
Primus Lending Corp. lent most frequently to those with incomes in the $100k-150k range, with 26 originations. The second most popular income band? $50k-75k, with 13 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 43% | 1 | $345,000 | $345,000 | $12,393 | 4.50% |
| 50-60% | 1 | $135,000 | $135,000 | $10,604 | 4.75% |
Primus Lending Corp. lent most frequently to those with DTI ratios of 43%, with 1 originations. The next most common DTI ratio? 50-60%, with 1 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.48%
Primus Lending Corp. has an average approval rate.
Pick Rate
Approvals leading to origination31.43%
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 | 70 | $25,720,000 | $367,429 |