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, San Diego, and Vallejo among others. We have data for 9 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.

    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

    175

    Origination Dollar Volume (All Markets)

    $78,295,000

    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) 129 $59,505,000 $461,279 $10,167 3.06%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 24 $8,590,000 $357,917 $8,896 3.02%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 9 $4,855,000 $539,444 $8,324 3.00%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 4 $1,800,000 $450,000 $6,704 2.94%
    VALLEJO, CA (FHA|USDA|VA) 3 $1,655,000 $551,667 $18,668 3.29%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 3 $1,065,000 $355,000 $9,121 3.17%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $315,000 $315,000 $2,359 2.75%
    MODESTO, CA (FHA|USDA|VA) 1 $255,000 $255,000 $1,674 2.50%
    BAKERSFIELD, CA (FHA|USDA|VA) 1 $255,000 $255,000 $3,284 2.88%
    Primus Lending Corp.'s top markets include Los Angeles, Riverside, San Francisco, San Diego, 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.

    Christian Community Credit Union
    Similarity Rank: 354
    Credence Funding Corporation
    Similarity Rank: 404
    LONG BEACH CITY EMPLOYEES Federal Credit Union
    Similarity Rank: 825
    Chaffey Federal Credit Union
    Similarity Rank: 966
    LA Financial Federal Credit Union
    Similarity Rank: 1374
    POPA FEDERAL CREDIT UNION
    Similarity Rank: 1380
    Los Angeles Federal Credit Union
    Similarity Rank: 1400
    Water and Power Community Credit Union
    Similarity Rank: 1484
    ARROWHEAD CENTRAL CREDIT UNION
    Similarity Rank: 1488
    FRONTWAVE
    Similarity Rank: 1520

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 139 $59,845,000 $430,540 $7,646 3.05%
    FHA 29 $15,195,000 $523,966 $19,965 3.02%
    VA 4 $2,310,000 $577,500 $14,380 3.06%
    FHA 3 $945,000 $315,000 $0 3.21%

    For 2021, Primus Lending Corp.'s most frequently originated type of loan was Conventional, with 139 originations. Their 2nd most popular type was FHA, with 29 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 82 $34,870,000 $425,244 $7,300 2.94%
    Cash Out Refi 52 $21,830,000 $419,808 $10,559 3.15%
    Home Purchase 41 $21,595,000 $526,707 $13,922 3.14%

    For 2021, Primus Lending Corp.'s most frequently cited loan purpose was Refi, with 82 originations. The 2nd most popular reason was Cash Out Refi, with 52 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 155 $71,415,000 $460,742 $10,297 3.11%
    15 Year 14 $4,990,000 $356,429 $5,410 2.50%
    Other 3 $945,000 $315,000 $0 3.21%
    20 Year 2 $720,000 $360,000 $6,526 2.56%
    10 Year 1 $225,000 $225,000 $4,931 2.50%

    For 2021, Primus Lending Corp.'s most frequently cited loan duration was 30 Year, with 155 originations. The 2nd most popular length was 15 Year, with 14 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 71 $35,275,000 $496,831
    $1k-2k 46 $19,640,000 $426,957
    $<1k 21 $8,385,000 $399,286
    $3k-4k 13 $4,365,000 $335,769
    $2k-3k 11 $6,015,000 $546,818
    $4k-5k 9 $3,095,000 $343,889

    Primus Lending Corp.'s average total fees were $10,297, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 71 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 79 $35,445,000 $448,671
    3-4% 75 $34,565,000 $460,867
    <2.5% 19 $7,525,000 $396,053
    4-5% 2 $760,000 $380,000

    During 2021, Primus Lending Corp.'s average interest rate for loans was 3.11%, while their most frequently originated rate bucket for loans was 2.5-3%, with 79 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 70 $34,950,000 $499,286 $10,467 3.08%
    $200k-400k 66 $19,900,000 $301,515 $6,543 3.00%
    $600k-1MM 32 $22,330,000 $697,813 $15,860 3.14%
    $100k-200k 6 $1,030,000 $171,667 $6,004 2.88%
    $100,000 or less 1 $85,000 $85,000 $4,818 2.50%

    2021 saw Primus Lending Corp. place emphasis on $400k-600k loans with 70 originations, totaling $34,950,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 46 $22,290,000 $484,565 $9,905 3.06%
    $100k-150k 44 $22,750,000 $517,045 $11,190 3.15%
    $75k-100k 42 $17,370,000 $413,571 $9,402 3.09%
    $50k-75k 27 $7,885,000 $292,037 $7,669 2.87%
    $250k+ 12 $6,960,000 $580,000 $10,564 2.83%
    $50k or less 4 $1,040,000 $260,000 $9,875 3.20%

    Primus Lending Corp. lent most frequently to those with incomes in the $150k-250k range, with 46 originations. The second most popular income band? $100k-150k, with 44 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 27 $11,285,000 $417,963 $6,885 3.06%
    30-36% 21 $8,115,000 $386,429 $7,080 3.02%
    50-60% 13 $6,985,000 $537,308 $19,091 3.07%
    48% 12 $5,990,000 $499,167 $11,412 3.23%
    47% 10 $4,390,000 $439,000 $8,689 2.91%
    46% 10 $4,530,000 $453,000 $11,122 2.79%
    43% 10 $4,300,000 $430,000 $10,239 3.24%
    45% 9 $4,865,000 $540,556 $13,346 3.13%
    <20% 8 $3,450,000 $431,250 $6,045 2.70%
    40% 8 $3,400,000 $425,000 $8,744 3.27%
    39% 7 $2,805,000 $400,714 $7,007 2.98%
    42% 7 $4,055,000 $579,286 $12,318 3.23%
    36% 6 $2,050,000 $341,667 $8,218 3.23%
    38% 6 $3,360,000 $560,000 $13,834 2.94%
    44% 5 $2,275,000 $455,000 $11,895 3.08%
    41% 5 $2,285,000 $457,000 $9,223 2.98%
    37% 4 $1,600,000 $400,000 $5,827 3.00%
    49% 4 $1,610,000 $402,500 $10,845 2.88%

    Primus Lending Corp. lent most frequently to those with DTI ratios of 20-30%, with 27 originations. The next most common DTI ratio? 30-36%, with 21 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Black 73 $34,205,000 $468,562 $13,230 3.19%
    Asian 59 $25,165,000 $426,525 $6,354 2.89%
    White 43 $18,925,000 $440,116 $8,683 3.04%

    Approval Rates

    Total approvals of all applications
    96.00%

    Primus Lending Corp. has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    62.86%

    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 175 $78,295,000 $447,400

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    175 $78,295,000 $447,400

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 30 $9,940,000 $331,333 $6,386 2.90%
    40-60% 60 $25,280,000 $421,333 $8,159 3.06%
    60-80% 50 $24,340,000 $486,800 $9,750 3.12%
    80-100% 32 $17,210,000 $537,813 $15,006 3.07%
    Over 100% 1 $805,000 $805,000 $36,147 2.88%
    Under 20% 2 $720,000 $360,000 $14,327 2.88%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Prime Choice Funding Inc. Conventional home mortgage Closing on a mortgage 1 50.0%
    Prime Choice Funding Inc. VA mortgage Trouble during payment process 1 50.0%