Superior Choice Mortgage Rates, Fees & Info

Superior, WI

LEI: 5493008BSTI0PQR0IL08

Tax ID: 39-0906277

5 stars - Updated: 4/18/24 - out of 5 stars, based on 24 reviews

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

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Mortgage Data

Review & Overview

Superior Choice is a smaller mortgage company specializing in Home Purchase loans. Superior Choice has a high proportion of conventional loans. Their top markets by origination volume include: Duluth, Eau Claire, Minneapolis, Los Angeles, and Riverside among others. We have data for 57 markets. (Some data included below & more in-depth data is available with an active subscription.)

Superior Choice 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. Superior Choice is typically a low 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.

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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.27% 4/18/24
30 Year Conventional Purchase 6.83% 4/18/24
30 Year Conventional Refi 6.57% 4/18/24
30 Year Cash-out Refi 6.95% 4/18/24
15 Year Conventional Purchase 7.10% 4/18/24
15 Year Conventional Refi 6.57% 4/18/24
15 Year Cash-out Refi 6.57% 4/18/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Superior Choice Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Superior Choice. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

597

Origination Dollar Volume (All Markets)

$65,755,000

Awards

SUPERIOR CHOICE 30 Year Conventional Loans gold SUPERIOR CHOICE 30 Year Conventional Loans gold SUPERIOR CHOICE 30 Year Conventional Loans gold SUPERIOR CHOICE 30 Year Conventional Loans bronze
Show all (4) awards

Relative Rate

Superior Choice's average 30 year fixed mortgage rate was 6.24%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.24%.

Relative Fees (Closing Costs)

Superior Choice's average total fees/closing costs for a 30 year fixed rate mortgage were $3,961.

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
DULUTH, MN-WI (FHA|USDA|VA) 259 $27,785,000 $107,278 $3,368 7.04%
Outside of Metro Areas 207 $20,045,000 $96,836 $2,829 7.05%
EAU CLAIRE, WI (FHA|USDA|VA) 12 $1,950,000 $162,500 $3,575 6.65%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 4 $1,230,000 $307,500 $6,500 7.09%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 5 $1,065,000 $213,000 $4,923 7.95%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 8 $960,000 $120,000 $4,088 7.53%
Tupelo, MS (FHA|USDA|VA) 6 $700,000 $116,667 $1,686 7.24%
Grand Rapids, MN (FHA|USDA|VA) 7 $635,000 $90,714 $3,172 7.95%
SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 5 $605,000 $121,000 $1,647 7.45%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 3 $605,000 $201,667 $5,204 7.49%
Laurel, MS (FHA|USDA|VA) 6 $520,000 $86,667 $1,653 7.74%
TUSCALOOSA, AL (FHA|USDA|VA) 5 $505,000 $101,000 $1,660 7.69%
DECATUR, AL (FHA|USDA|VA) 4 $490,000 $122,500 $1,679 7.81%
HATTIESBURG, MS (FHA|USDA|VA) 5 $485,000 $97,000 $2,327 7.70%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 4 $440,000 $110,000 $1,643 7.50%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 2 $420,000 $210,000 $4,936 7.00%
DOTHAN, AL (FHA|USDA|VA) 2 $410,000 $205,000 $1,637 7.74%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 2 $380,000 $190,000 $4,729 7.63%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 3 $365,000 $121,667 $1,646 8.16%
Menomonie, WI (FHA|USDA|VA) 1 $365,000 $365,000 $8,435 6.19%
Hutchinson, MN (FHA|USDA|VA) 1 $315,000 $315,000 $7,015 6.19%
Meridian, MS (FHA|USDA|VA) 2 $310,000 $155,000 $3,387 7.24%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 2 $300,000 $150,000 $4,389 7.62%
VALLEJO, CA (FHA|USDA|VA) 2 $280,000 $140,000 $5,407 7.13%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $275,000 $275,000 $0 7.13%
Jasper, AL (FHA|USDA|VA) 2 $270,000 $135,000 $5,480 7.74%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 2 $250,000 $125,000 $1,654 7.37%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $235,000 $235,000 $4,845 7.75%
Scottsboro, AL (FHA|USDA|VA) 1 $205,000 $205,000 $1,647 7.24%
Natchitoches, LA (FHA|USDA|VA) 1 $205,000 $205,000 $1,647 8.50%
LAFAYETTE, LA (FHA|USDA|VA) 2 $200,000 $100,000 $1,667 7.37%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $200,000 $100,000 $2,646 8.63%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 2 $190,000 $95,000 $3,406 7.87%
Corinth, MS (FHA|USDA|VA) 2 $190,000 $95,000 $1,410 7.25%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $185,000 $185,000 $1,659 7.49%
LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 2 $170,000 $85,000 $3,013 7.06%
FRESNO, CA (FHA|USDA|VA) 1 $165,000 $165,000 $4,447 8.00%
Camden, AR (FHA|USDA|VA) 1 $155,000 $155,000 $1,664 7.24%
Columbus, MS (FHA|USDA|VA) 1 $155,000 $155,000 $1,647 9.50%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $125,000 $125,000 $1,632 8.24%
STOCKTON, CA (FHA|USDA|VA) 1 $125,000 $125,000 $3,913 7.75%
MODESTO, CA (FHA|USDA|VA) 1 $115,000 $115,000 $3,983 8.75%
TEXARKANA, TX-AR (FHA|USDA|VA) 1 $105,000 $105,000 $1,699 7.50%
Ruston, LA (FHA|USDA|VA) 1 $105,000 $105,000 $1,647 8.75%
ALEXANDRIA, LA (FHA|USDA|VA) 1 $95,000 $95,000 $5,435 7.50%
HAMMOND, LA (FHA|USDA|VA) 1 $95,000 $95,000 $1,677 8.24%
GADSDEN, AL (FHA|USDA|VA) 1 $95,000 $95,000 $5,264 7.24%
Starkville, MS (FHA|USDA|VA) 1 $95,000 $95,000 $1,659 8.50%
McComb, MS (FHA|USDA|VA) 1 $85,000 $85,000 $5,147 8.49%
BATON ROUGE, LA (FHA|USDA|VA) 1 $75,000 $75,000 $1,652 8.00%
JACKSON, MS (FHA|USDA|VA) 1 $75,000 $75,000 $1,702 8.00%
Albertville, AL (FHA|USDA|VA) 1 $65,000 $65,000 $1,647 7.25%
Fort Polk South, LA (FHA|USDA|VA) 1 $65,000 $65,000 $1,632 9.75%
Magnolia, AR (FHA|USDA|VA) 1 $65,000 $65,000 $4,313 7.75%
Brookhaven, MS (FHA|USDA|VA) 1 $55,000 $55,000 $1,632 7.00%
Paducah, KY-IL (FHA|USDA|VA) 1 $55,000 $55,000 $3,677 6.50%
Red Wing, MN (FHA|USDA|VA) 1 $45,000 $45,000 $0 8.75%
Superior Choice's top markets include Duluth, Eau Claire, Minneapolis, Los Angeles, and Riverside among others.

Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against SUPERIOR CHOICE based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    North Shore Federal Credit Union
    Similarity Rank: 28
    National Bank of Commerce
    Similarity Rank: 192
    Northview Bank
    Similarity Rank: 195
    SUPERIOR CHOICE
    Similarity Rank: 285
    MEMBERS COOPERATIVE
    Similarity Rank: 363
    Park State Bank
    Similarity Rank: 392
    WINGS FINANCIAL
    Similarity Rank: 594
    AFFINITY PLUS
    Similarity Rank: 612
    North Shore Bank of Commerce
    Similarity Rank: 624
    Regent Financial Group, Inc.
    Similarity Rank: 1152

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 423 $56,315,000 $133,132 $3,055 7.06%
    HELOC 174 $9,440,000 $54,253 n/a 7.39%

    For 2023, Superior Choice's most frequently originated type of loan was Conventional, with 423 originations. Their 2nd most popular type was HELOC, with 174 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 286 $43,700,000 $152,797 $3,452 7.03%
    Cash Out Refi 156 $12,570,000 $80,577 $2,269 7.33%
    Home Improvement 123 $6,845,000 $55,650 $2,028 7.36%
    Refi 24 $2,270,000 $94,583 $2,543 6.44%
    Other 8 $370,000 $46,250 $0 7.16%

    For 2023, Superior Choice's most frequently cited loan purpose was Home Purchase, with 286 originations. The 2nd most popular reason was Cash Out Refi, with 156 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 208 $11,460,000 $55,096 $1,438 7.59%
    30 Year 158 $27,610,000 $174,747 $3,961 6.24%
    Other 137 $16,995,000 $124,051 $2,806 7.65%
    15 Year 79 $7,945,000 $100,570 $2,241 6.90%
    10 Year 7 $275,000 $39,286 $1,094 8.21%
    5 Year 6 $1,300,000 $216,667 $0 7.18%
    1 Year 1 $125,000 $125,000 $0 7.13%
    3 Year 1 $45,000 $45,000 $0 7.00%

    For 2023, Superior Choice's most frequently cited loan duration was 20 Year, with 208 originations. The 2nd most popular length was 30 Year, with 158 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 94 $4,840,000 $51,489
    $1k-2k 91 $13,085,000 $143,791
    $2k-3k 51 $8,385,000 $164,412
    $4k-5k 25 $5,465,000 $218,600
    $3k-4k 19 $3,665,000 $192,895
    $5k+ 13 $4,465,000 $343,462

    Superior Choice's average total fees were $3,961, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 94 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 197 $25,665,000 $130,279
    7-8% 186 $19,220,000 $103,333
    Over 8% 105 $7,755,000 $73,857
    5-6% 103 $12,355,000 $119,951
    4-5% 5 $715,000 $143,000
    3-4% 1 $45,000 $45,000

    During 2023, Superior Choice's average interest rate for loans was 6.24%, while their most frequently originated rate bucket for loans was 6-7%, with 197 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 338 $18,330,000 $54,231 $2,086 7.42%
    $100k-200k 179 $25,855,000 $144,441 $3,179 6.95%
    $200k-400k 74 $18,650,000 $252,027 $5,036 6.55%
    $400k-600k 5 $2,315,000 $463,000 $8,172 6.39%
    $600k-1MM 1 $605,000 $605,000 $9,195 6.13%

    2023 saw Superior Choice place emphasis on $100,000 or less loans with 338 originations, totaling $18,330,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 152 $14,240,000 $93,684 $2,969 7.14%
    $50k or less 132 $10,990,000 $83,258 $2,459 7.03%
    $100k-150k 125 $16,085,000 $128,680 $3,853 7.30%
    $75k-100k 96 $9,420,000 $98,125 $2,652 7.31%
    $150k-250k 49 $8,205,000 $167,449 $4,239 6.98%
    $250k+ 11 $1,515,000 $137,727 $4,588 7.02%

    Superior Choice lent most frequently to those with incomes in the $50k-75k range, with 152 originations. The second most popular income band? $50k or less, with 132 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 140 $13,000,000 $92,857 $3,004 7.07%
    30-36% 134 $16,710,000 $124,701 $3,461 7.42%
    <20% 75 $6,445,000 $85,933 $2,895 6.89%
    42% 24 $2,280,000 $95,000 $2,346 7.42%
    41% 22 $2,110,000 $95,909 $3,020 7.26%
    38% 20 $2,120,000 $106,000 $2,943 7.13%
    37% 20 $2,020,000 $101,000 $2,852 7.44%
    44% 20 $2,000,000 $100,000 $2,316 7.47%
    39% 19 $2,385,000 $125,526 $3,448 6.91%
    43% 16 $2,400,000 $150,000 $2,853 7.39%
    36% 14 $2,030,000 $145,000 $3,556 7.11%
    40% 11 $1,385,000 $125,909 $4,066 7.00%
    47% 8 $800,000 $100,000 $2,616 7.07%
    45% 7 $875,000 $125,000 $1,925 7.66%
    46% 7 $815,000 $116,429 $2,502 6.77%
    48% 6 $450,000 $75,000 $2,197 7.06%
    49% 6 $640,000 $106,667 $2,413 6.85%
    50-60% 2 $390,000 $195,000 $4,727 6.00%

    Superior Choice lent most frequently to those with DTI ratios of 20-30%, with 140 originations. The next most common DTI ratio? 30-36%, with 134 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 489 $52,645,000 $107,658 $3,066 7.13%
    Not applicable 28 $4,950,000 $176,786 $0 7.08%
    Not provided 44 $4,380,000 $99,545 $2,760 7.22%
    American Indian 13 $1,355,000 $104,231 $3,112 7.46%
    Black 15 $1,295,000 $86,333 $2,721 7.72%
    Asian 4 $540,000 $135,000 $3,950 7.00%
    Filipino 2 $390,000 $195,000 $8,435 6.60%
    Other Asian 1 $185,000 $185,000 $4,563 6.37%
    Vietnamese 1 $15,000 $15,000 $0 8.50%

    Approval Rates

    Total approvals of all applications
    84.99%

    Superior Choice has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    78.89%

    Superior Choice has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 597 $65,755,000 $110,142

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    597 $65,755,000 $110,142

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 111 $6,975,000 $62,838 $1,953 7.49%
    40-60% 65 $6,345,000 $97,615 $2,649 6.80%
    60-80% 99 $14,145,000 $142,879 $3,357 6.67%
    80-100% 211 $33,555,000 $159,028 $3,430 7.12%
    Under 20% 105 $4,035,000 $38,429 $1,489 7.64%