Primus Lending Corp. Mortgage Rates, Fees & Info

LOS ANGELES, CA

LEI: 5493007ABXGXVK31KE79

Tax ID: 95-4789675

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Primus Lending Corp. is a smaller mortgage company specializing in Cash Out Refi and Home Purchase loans. Primus Lending Corp. has a high proportion of conventional loans. They have an average 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, Oxnard, and San Francisco 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 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.

    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.

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    Originations

    73

    Origination Dollar Volume (All Markets)

    $28,035,000

    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) 59 $23,625,000 $400,424 $11,070 4.40%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 8 $2,130,000 $266,250 $17,754 4.21%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 4 $1,770,000 $442,500 $8,955 4.34%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 2 $510,000 $255,000 $12,714 4.19%
    Primus Lending Corp.'s top markets include Los Angeles, Riverside, Oxnard, and San Francisco among others.

    Their top states include:
  • California (FHA|USDA|VA)

    • 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.

    Christian Community Credit Union
    Similarity Rank: 220
    LONG BEACH CITY EMPLOYEES Federal Credit Union
    Similarity Rank: 290
    SOUTHLAND CREDIT UNION
    Similarity Rank: 464
    FRONTWAVE
    Similarity Rank: 912
    LA Financial Federal Credit Union
    Similarity Rank: 951
    ARROWHEAD CENTRAL CREDIT UNION
    Similarity Rank: 1107
    LBS FINANCIAL
    Similarity Rank: 1176
    MISSION
    Similarity Rank: 1260
    Water and Power Community Credit Union
    Similarity Rank: 1296
    I.L.W.U. CREDIT UNION
    Similarity Rank: 1368

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 48 $18,350,000 $382,292 $10,316 4.41%
    FHA 17 $6,525,000 $383,824 $15,365 4.32%
    FHA 4 $1,170,000 $292,500 $0 4.52%
    VA 4 $1,990,000 $497,500 $12,262 4.06%

    For 2019, Primus Lending Corp.'s most frequently originated type of loan was Conventional, with 48 originations. Their 2nd most popular type was FHA, with 17 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 33 $12,865,000 $389,848 $13,114 4.45%
    Home Purchase 27 $10,615,000 $393,148 $10,518 4.39%
    Refi 13 $4,555,000 $350,385 $10,659 4.14%

    For 2019, Primus Lending Corp.'s most frequently cited loan purpose was Cash Out Refi, with 33 originations. The 2nd most popular reason was Home Purchase, with 27 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 66 $26,260,000 $397,879 $10,942 4.38%
    Other 4 $1,170,000 $292,500 $0 4.52%
    15 Year 2 $250,000 $125,000 $35,963 4.44%
    20 Year 1 $355,000 $355,000 $11,309 3.63%

    For 2019, Primus Lending Corp.'s most frequently cited loan duration was 30 Year, with 66 originations. The 2nd most popular length was Other, with 4 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 28 $12,160,000 $434,286
    $1k-2k 14 $5,470,000 $390,714
    $4k-5k 10 $4,820,000 $482,000
    $3k-4k 8 $1,550,000 $193,750
    $<1k 5 $2,255,000 $451,000
    $2k-3k 4 $610,000 $152,500

    Primus Lending Corp.'s average total fees were $10,942, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 28 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 41 $16,415,000 $400,366
    3-4% 25 $8,925,000 $357,000
    5-6% 7 $2,695,000 $385,000

    During 2019, Primus Lending Corp.'s average interest rate for loans was 4.38%, while their most frequently originated rate bucket for loans was 4-5%, with 41 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 31 $14,855,000 $479,194 $12,908 4.35%
    $200k-400k 30 $9,200,000 $306,667 $9,020 4.35%
    $100k-200k 8 $1,160,000 $145,000 $14,945 4.42%
    $600k-1MM 4 $2,820,000 $705,000 $12,802 4.66%

    2019 saw Primus Lending Corp. place emphasis on $400k-600k loans with 31 originations, totaling $14,855,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 22 $9,950,000 $452,273 $11,884 4.45%
    $75k-100k 15 $6,135,000 $409,000 $11,848 4.33%
    $50k-75k 13 $3,475,000 $267,308 $13,394 4.33%
    $150k-250k 11 $5,435,000 $494,091 $11,257 4.45%
    $50k or less 9 $2,065,000 $229,444 $9,359 4.37%
    $250k+ 2 $480,000 $240,000 $5,533 4.13%

    Primus Lending Corp. lent most frequently to those with incomes in the $100k-150k range, with 22 originations. The second most popular income band? $75k-100k, with 15 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Black 37 $14,435,000 $390,135 $14,953 4.42%
    Asian 18 $6,890,000 $382,778 $6,340 4.21%
    White 18 $6,710,000 $372,778 $10,253 4.45%

    Approval Rates

    Total approvals of all applications
    87.16%

    Primus Lending Corp. has an average approval rate.

    Pick Rate

    Approvals leading to origination
    23.29%

    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 73 $28,035,000 $384,041

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 73 $28,035,000 $384,041

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    60-80% 1 $255,000 $255,000 $13,692 4.00%