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
  • Complaints
  • 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 Refi, 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, San Francisco, Stockton, and Vallejo among others. We have data for 12 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

    130

    Origination Dollar Volume (All Markets)

    $53,850,000

    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) 92 $39,190,000 $425,978 $9,940 3.14%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 18 $5,960,000 $331,111 $6,731 3.29%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 5 $2,175,000 $435,000 $6,516 2.90%
    STOCKTON, CA (FHA|USDA|VA) 4 $1,560,000 $390,000 $9,365 3.00%
    VALLEJO, CA (FHA|USDA|VA) 3 $1,215,000 $405,000 $12,329 3.00%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 2 $1,150,000 $575,000 $12,048 2.75%
    SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 1 $775,000 $775,000 $29,523 3.63%
    SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 1 $515,000 $515,000 $2,534 2.63%
    MODESTO, CA (FHA|USDA|VA) 1 $375,000 $375,000 $5,764 3.13%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $355,000 $355,000 $15,088 3.00%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $335,000 $335,000 $2,415 2.88%
    BAKERSFIELD, CA (FHA|USDA|VA) 1 $245,000 $245,000 $7,053 2.88%
    Primus Lending Corp.'s top markets include Los Angeles, Riverside, San Francisco, Stockton, and Vallejo 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.

    Chaffey Federal Credit Union
    Similarity Rank: 345
    ALTURA
    Similarity Rank: 628
    Christian Community Credit Union
    Similarity Rank: 716
    LONG BEACH CITY EMPLOYEES Federal Credit Union
    Similarity Rank: 1053
    FFC Mortgage Corp.
    Similarity Rank: 1428
    LA Financial Federal Credit Union
    Similarity Rank: 1677
    LONG BEACH FIREMEN S CREDIT UNION
    Similarity Rank: 1848
    SOUTHLAND CREDIT UNION
    Similarity Rank: 1974
    GLENDALE FEDERAL CREDIT UNION
    Similarity Rank: 2016
    ARROWHEAD CENTRAL CREDIT UNION
    Similarity Rank: 2282

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 100 $39,520,000 $395,200 $7,344 3.07%
    FHA 21 $10,295,000 $490,238 $19,082 3.38%
    FHA 5 $2,175,000 $435,000 $0 3.57%
    VA 4 $1,860,000 $465,000 $11,086 2.84%

    For 2020, Primus Lending Corp.'s most frequently originated type of loan was Conventional, with 100 originations. Their 2nd most popular type was FHA, with 21 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 61 $22,725,000 $372,541 $4,800 2.91%
    Cash Out Refi 40 $17,660,000 $441,500 $13,231 3.51%
    Home Purchase 29 $13,465,000 $464,310 $14,603 3.09%

    For 2020, Primus Lending Corp.'s most frequently cited loan purpose was Refi, with 61 originations. The 2nd most popular reason was Cash Out Refi, with 40 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 115 $48,515,000 $421,870 $9,969 3.16%
    15 Year 9 $2,665,000 $296,111 $3,402 2.56%
    Other 5 $2,175,000 $435,000 $0 3.57%
    20 Year 1 $495,000 $495,000 $2,325 2.75%

    For 2020, Primus Lending Corp.'s most frequently cited loan duration was 30 Year, with 115 originations. The 2nd most popular length was 15 Year, with 9 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 62 $22,700,000 $366,129
    $5k+ 39 $20,315,000 $520,897
    $<1k 10 $4,090,000 $409,000
    $4k-5k 7 $2,615,000 $373,571
    $3k-4k 5 $1,315,000 $263,000
    $2k-3k 2 $640,000 $320,000

    Primus Lending Corp.'s average total fees were $9,969, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 62 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 59 $23,455,000 $397,542
    3-4% 52 $21,230,000 $408,269
    <2.5% 11 $4,405,000 $400,455
    5-6% 5 $3,315,000 $663,000
    4-5% 3 $1,445,000 $481,667

    During 2020, Primus Lending Corp.'s average interest rate for loans was 3.16%, while their most frequently originated rate bucket for loans was 2.5-3%, with 59 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 63 $30,575,000 $485,317 $9,526 3.09%
    $200k-400k 50 $15,790,000 $315,800 $7,345 3.17%
    $100k-200k 8 $1,350,000 $168,750 $5,809 2.97%
    $600k-1MM 6 $4,210,000 $701,667 $22,423 3.21%
    $100,000 or less 2 $170,000 $85,000 $5,021 2.75%
    $1MM+ 1 $1,755,000 $1,755,000 $64,238 5.63%

    2020 saw Primus Lending Corp. place emphasis on $400k-600k loans with 63 originations, totaling $30,575,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 37 $15,275,000 $412,838 $9,710 3.07%
    $150k-250k 29 $13,475,000 $464,655 $7,947 2.96%
    $75k-100k 29 $10,785,000 $371,897 $9,260 3.07%
    $250k+ 16 $8,240,000 $515,000 $15,204 3.76%
    $50k-75k 9 $2,755,000 $306,111 $5,541 3.05%
    $50k or less 9 $2,745,000 $305,000 $5,593 3.16%

    Primus Lending Corp. lent most frequently to those with incomes in the $100k-150k range, with 37 originations. The second most popular income band? $150k-250k, with 29 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 31 $13,195,000 $425,645 $7,566 3.21%
    30-36% 19 $7,205,000 $379,211 $6,724 3.14%
    41% 10 $3,880,000 $388,000 $12,751 3.13%
    50-60% 10 $4,610,000 $461,000 $16,997 3.28%
    <20% 9 $4,255,000 $472,778 $7,215 3.43%
    39% 7 $3,595,000 $513,571 $14,543 2.91%
    38% 6 $1,920,000 $320,000 $5,279 2.83%
    49% 5 $2,065,000 $413,000 $11,350 2.98%
    45% 5 $2,015,000 $403,000 $7,922 2.95%
    43% 4 $1,580,000 $395,000 $6,404 3.22%
    47% 3 $795,000 $265,000 $5,734 2.96%
    37% 3 $1,075,000 $358,333 $7,294 2.88%
    40% 3 $1,175,000 $391,667 $9,264 2.83%
    44% 3 $1,165,000 $388,333 $18,797 3.33%
    46% 3 $1,195,000 $398,333 $4,194 3.04%
    >60% 2 $760,000 $380,000 $0 2.74%
    36% 2 $780,000 $390,000 $7,779 3.31%
    42% 2 $840,000 $420,000 $11,608 3.13%
    48% 2 $1,170,000 $585,000 $24,421 3.38%

    Primus Lending Corp. lent most frequently to those with DTI ratios of 20-30%, with 31 originations. The next most common DTI ratio? 30-36%, with 19 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Asian 54 $22,470,000 $416,111 $6,790 3.13%
    Black 44 $18,830,000 $427,955 $13,008 3.27%
    White 30 $11,910,000 $397,000 $8,653 2.89%
    Native Hawaiian or Islander 1 $385,000 $385,000 $33,804 4.13%
    American Indian 1 $255,000 $255,000 $3,359 3.50%

    Approval Rates

    Total approvals of all applications
    81.18%

    Primus Lending Corp. has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    20.77%

    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 130 $53,850,000 $414,231

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 130 $53,850,000 $414,231

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 20 $6,340,000 $317,000 $4,244 3.14%
    40-60% 33 $12,865,000 $389,848 $5,840 2.99%
    60-80% 55 $24,405,000 $443,727 $10,634 3.19%
    80-100% 21 $10,165,000 $484,048 $16,509 3.24%
    Under 20% 1 $75,000 $75,000 $7,451 2.88%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Prime Choice Funding Inc. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 3 50.0%
    Prime Choice Funding Inc. VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 16.7%
    Prime Choice Funding Inc. VA mortgage Closing on a mortgage 1 16.7%
    Prime Choice Funding Inc. VA mortgage Trouble during payment process 1 16.7%