Superior Choice Mortgage Rates, Fees & Info

Superior, WI

LEI: 5493008BSTI0PQR0IL08

Tax ID: 39-0906277

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Mortgage Data

Review & Overview

Superior Choice is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Superior Choice has a high proportion of conventional loans. Their top markets by origination volume include: Duluth, Los Angeles, Birmingham, Eau Claire, and Baton Rouge among others. We have data for 101 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 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.

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

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.27% 3/24/24
30 Year Conventional Purchase 6.83% 3/24/24
30 Year Conventional Refi 6.57% 3/24/24
30 Year Cash-out Refi 6.95% 3/24/24
15 Year Conventional Purchase 7.10% 3/24/24
15 Year Conventional Refi 6.57% 3/24/24
15 Year Cash-out Refi 6.57% 3/24/24
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

735

Origination Dollar Volume (All Markets)

$82,465,000
Show all (6) awards

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) 269 $36,085,000 $134,145 $2,522 4.13%
Outside of Metro Areas 214 $24,790,000 $115,841 $1,624 4.99%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 10 $1,250,000 $125,000 $0 7.05%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 13 $1,145,000 $88,077 $0 6.73%
EAU CLAIRE, WI (FHA|USDA|VA) 10 $720,000 $72,000 $1,011 4.09%
BATON ROUGE, LA (FHA|USDA|VA) 8 $690,000 $86,250 $0 9.87%
Jasper, AL (FHA|USDA|VA) 8 $670,000 $83,750 $0 6.97%
JACKSON, MS (FHA|USDA|VA) 6 $650,000 $108,333 $0 7.21%
DOTHAN, AL (FHA|USDA|VA) 5 $575,000 $115,000 $0 6.80%
Tupelo, MS (FHA|USDA|VA) 6 $570,000 $95,000 $0 6.75%
LAFAYETTE, LA (FHA|USDA|VA) 10 $550,000 $55,000 $0 6.95%
TULSA, OK (FHA|USDA|VA) 5 $535,000 $107,000 $0 6.80%
HOUMA-THIBODAUX, LA (FHA|USDA|VA) 6 $510,000 $85,000 $0 6.75%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 4 $500,000 $125,000 $0 6.81%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 6 $490,000 $81,667 $0 6.67%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 8 $420,000 $52,500 $0 6.81%
MONTGOMERY, AL (FHA|USDA|VA) 5 $415,000 $83,000 $0 6.75%
DeRidder, LA (FHA|USDA|VA) 5 $405,000 $81,000 $0 6.60%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 4 $370,000 $92,500 $0 6.44%
TUSCALOOSA, AL (FHA|USDA|VA) 4 $320,000 $80,000 $0 6.81%
JACKSONVILLE, FL (FHA|USDA|VA) 3 $305,000 $101,667 $0 7.17%
ALEXANDRIA, LA (FHA|USDA|VA) 3 $295,000 $98,333 $0 7.00%
DECATUR, AL (FHA|USDA|VA) 4 $290,000 $72,500 $0 7.06%
LAKE CHARLES, LA (FHA|USDA|VA) 4 $270,000 $67,500 $0 6.81%
VALLEJO, CA (FHA|USDA|VA) 2 $260,000 $130,000 $0 7.00%
FLORENCE, SC (FHA|USDA|VA) 2 $260,000 $130,000 $0 6.88%
GAINESVILLE, FL (FHA|USDA|VA) 3 $255,000 $85,000 $0 7.08%
BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 3 $255,000 $85,000 $0 6.42%
Brookhaven, MS (FHA|USDA|VA) 2 $240,000 $120,000 $0 7.38%
Searcy, AR (FHA|USDA|VA) 3 $235,000 $78,333 $0 7.42%
Meridian, MS (FHA|USDA|VA) 2 $230,000 $115,000 $0 6.62%
MOBILE, AL (FHA|USDA|VA) 3 $215,000 $71,667 $0 7.67%
Waycross, GA (FHA|USDA|VA) 4 $210,000 $52,500 $0 7.06%
Eufaula, AL-GA (FHA|USDA|VA) 2 $210,000 $105,000 $0 6.38%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 2 $210,000 $105,000 $0 6.75%
Opelousas, LA (FHA|USDA|VA) 2 $210,000 $105,000 $0 6.63%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 3 $205,000 $68,333 $0 6.50%
Columbus, MS (FHA|USDA|VA) 2 $200,000 $100,000 $0 6.62%
Starkville, MS (FHA|USDA|VA) 2 $200,000 $100,000 $0 6.62%
SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 2 $200,000 $100,000 $0 6.50%
Fort Polk South, LA (FHA|USDA|VA) 2 $200,000 $100,000 $0 6.75%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 3 $195,000 $65,000 $0 7.58%
Cullman, AL (FHA|USDA|VA) 3 $175,000 $58,333 $0 6.42%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $175,000 $175,000 $0 7.00%
MODESTO, CA (FHA|USDA|VA) 2 $170,000 $85,000 $0 6.88%
Ruston, LA (FHA|USDA|VA) 3 $165,000 $55,000 $0 6.50%
Greenwood, MS (FHA|USDA|VA) 2 $160,000 $80,000 $0 6.62%
STOCKTON, CA (FHA|USDA|VA) 1 $155,000 $155,000 $0 7.00%
Effingham, IL (FHA|USDA|VA) 2 $150,000 $75,000 $0 6.63%
BRUNSWICK, GA (FHA|USDA|VA) 1 $145,000 $145,000 $0 6.75%
Clarksdale, MS (FHA|USDA|VA) 1 $145,000 $145,000 $0 6.75%
OWENSBORO, KY (FHA|USDA|VA) 1 $145,000 $145,000 $0 6.75%
Talladega-Sylacauga, AL (FHA|USDA|VA) 1 $145,000 $145,000 $0 7.25%
ST. LOUIS, MO-IL (FHA|USDA|VA) 2 $140,000 $70,000 $0 6.62%
HINESVILLE, GA (FHA|USDA|VA) 2 $130,000 $65,000 $0 7.00%
Morgan City, LA (FHA|USDA|VA) 2 $130,000 $65,000 $0 6.38%
FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 1 $125,000 $125,000 $0 7.75%
Durant, OK (FHA|USDA|VA) 1 $125,000 $125,000 $0 6.50%
Lake City, FL (FHA|USDA|VA) 1 $115,000 $115,000 $0 7.00%
HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 1 $115,000 $115,000 $0 6.50%
Athens, TN (FHA|USDA|VA) 1 $115,000 $115,000 $0 7.00%
Enterprise, AL (FHA|USDA|VA) 1 $115,000 $115,000 $0 6.50%
McComb, MS (FHA|USDA|VA) 1 $115,000 $115,000 $0 6.50%
LOUISVILLE, KY (FHA|USDA|VA) 2 $110,000 $55,000 $0 6.38%
MONROE, LA (FHA|USDA|VA) 2 $110,000 $55,000 $0 7.00%
TALLAHASSEE, FL (FHA|USDA|VA) 1 $105,000 $105,000 $0 6.25%
JACKSON, TN (FHA|USDA|VA) 1 $105,000 $105,000 $0 6.75%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $105,000 $105,000 $0 7.00%
Alexander City, AL (FHA|USDA|VA) 1 $95,000 $95,000 $0 6.50%
Martin, TN (FHA|USDA|VA) 1 $95,000 $95,000 $0 6.50%
HATTIESBURG, MS (FHA|USDA|VA) 1 $85,000 $85,000 $0 6.99%
SALINAS, CA (FHA|USDA|VA) 1 $85,000 $85,000 $0 7.00%
JONESBORO, AR (FHA|USDA|VA) 1 $85,000 $85,000 $0 7.75%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 1 $85,000 $85,000 $0 7.25%
Orangeburg, SC (FHA|USDA|VA) 1 $85,000 $85,000 $0 7.50%
Madisonville, KY (FHA|USDA|VA) 1 $85,000 $85,000 $0 6.75%
Ozark, AL (FHA|USDA|VA) 1 $85,000 $85,000 $0 6.50%
Muskogee, OK (FHA|USDA|VA) 1 $75,000 $75,000 $0 8.00%
Shawnee, OK (FHA|USDA|VA) 1 $75,000 $75,000 $0 7.75%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $75,000 $75,000 $0 7.00%
Laurinburg, NC (FHA|USDA|VA) 1 $65,000 $65,000 $0 8.25%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $65,000 $65,000 $0 6.75%
Oxford, MS (FHA|USDA|VA) 1 $65,000 $65,000 $0 6.25%
Palatka, FL (FHA|USDA|VA) 1 $65,000 $65,000 $0 6.25%
Roswell, NM (FHA|USDA|VA) 1 $65,000 $65,000 $0 6.50%
GRAND JUNCTION, CO (FHA|USDA|VA) 1 $65,000 $65,000 $0 9.50%
COLUMBUS, OH (FHA|USDA|VA) 1 $65,000 $65,000 $0 6.50%
Centralia, IL (FHA|USDA|VA) 1 $65,000 $65,000 $0 7.25%
CARBONDALE-MARION, IL (FHA|USDA|VA) 1 $65,000 $65,000 $0 6.75%
ANNISTON-OXFORD, AL (FHA|USDA|VA) 1 $65,000 $65,000 $0 7.75%
Laurel, MS (FHA|USDA|VA) 1 $65,000 $65,000 $0 6.25%
Huntsville, TX (FHA|USDA|VA) 1 $55,000 $55,000 $0 8.25%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $55,000 $55,000 $0 6.25%
GRANTS PASS, OR (FHA|USDA|VA) 1 $55,000 $55,000 $0 7.25%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 1 $45,000 $45,000 $0 6.25%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $45,000 $45,000 $0 6.99%
West Point, MS (FHA|USDA|VA) 1 $45,000 $45,000 $0 6.50%
Corinth, MS (FHA|USDA|VA) 1 $45,000 $45,000 $0 7.25%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $35,000 $35,000 $0 8.25%
Cookeville, TN (FHA|USDA|VA) 1 $35,000 $35,000 $0 6.25%
Albemarle, NC (FHA|USDA|VA) 1 $25,000 $25,000 $0 6.25%
Superior Choice's top markets include Duluth, Los Angeles, Birmingham, Eau Claire, and Baton Rouge among others.

Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)
  • Louisiana (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.

    Cornerstone State Bank
    Similarity Rank: 140
    Western National Bank
    Similarity Rank: 156
    Tradition Mortgage, LLC
    Similarity Rank: 407
    SUPERIOR CHOICE
    Similarity Rank: 606
    North Shore Bank of Commerce
    Similarity Rank: 670
    AFFINITY PLUS
    Similarity Rank: 1085
    Regent Financial Group, Inc.
    Similarity Rank: 1350
    RESULTS MORTGAGE, LLC
    Similarity Rank: 1479
    Frandsen Bank & Trust
    Similarity Rank: 1548

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 730 $80,000,000 $109,589 $2,163 5.31%
    HELOC 5 $2,465,000 $493,000 n/a 6.00%

    For 2019, Superior Choice's most frequently originated type of loan was Conventional, with 730 originations. Their 2nd most popular type was HELOC, with 5 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 504 $52,070,000 $103,313 $2,820 5.92%
    Cash Out Refi 126 $17,410,000 $138,175 $1,714 4.02%
    Refi 68 $10,350,000 $152,206 $1,896 3.86%
    Other 23 $1,815,000 $78,913 $1,146 4.28%
    Home Improvement 14 $820,000 $58,571 $852 4.09%

    For 2019, Superior Choice's most frequently cited loan purpose was Home Purchase, with 504 originations. The 2nd most popular reason was Cash Out Refi, with 126 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 229 $32,835,000 $143,384 $2,394 3.86%
    15 Year 172 $16,840,000 $97,907 $1,997 5.27%
    Other 151 $19,225,000 $127,318 $2,054 6.80%
    20 Year 147 $11,835,000 $80,510 $2,169 6.21%
    10 Year 29 $1,235,000 $42,586 $675 4.57%
    3 Year 4 $380,000 $95,000 $0 6.13%
    1 Year 3 $115,000 $38,333 $0 6.75%

    For 2019, Superior Choice's most frequently cited loan duration was 30 Year, with 229 originations. The 2nd most popular length was 15 Year, with 172 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 481 $46,365,000 $96,393
    $1k-2k 56 $5,920,000 $105,714
    $2k-3k 44 $6,730,000 $152,955
    $3k-4k 29 $4,825,000 $166,379
    $4k-5k 6 $1,330,000 $221,667
    $5k+ 6 $1,710,000 $285,000

    Superior Choice's average total fees were $2,394, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 481 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 270 $34,150,000 $126,481
    6-7% 267 $23,545,000 $88,184
    4-5% 77 $11,965,000 $155,390
    7-8% 51 $4,345,000 $85,196
    5-6% 35 $5,175,000 $147,857
    Over 8% 21 $1,505,000 $71,667
    2.5-3% 14 $1,780,000 $127,143

    During 2019, Superior Choice's average interest rate for loans was 3.86%, while their most frequently originated rate bucket for loans was 3-4%, with 270 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 395 $25,375,000 $64,241 $1,501 5.70%
    $100k-200k 281 $37,885,000 $134,822 $2,463 5.07%
    $200k-400k 55 $13,725,000 $249,545 $3,236 3.87%
    $1MM+ 2 $4,410,000 $2,205,000 $0 5.13%
    $400k-600k 1 $465,000 $465,000 $5,524 4.25%
    $600k-1MM 1 $605,000 $605,000 $1,970 3.25%

    2019 saw Superior Choice place emphasis on $100,000 or less loans with 395 originations, totaling $25,375,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 202 $20,010,000 $99,059 $2,018 5.50%
    $50k or less 198 $13,980,000 $70,606 $1,796 5.23%
    $75k-100k 148 $17,300,000 $116,892 $2,389 5.48%
    $100k-150k 116 $16,040,000 $138,276 $2,357 5.06%
    $150k-250k 30 $5,580,000 $186,000 $2,972 4.54%
    $250k+ 8 $1,460,000 $182,500 $3,569 4.25%

    Superior Choice lent most frequently to those with incomes in the $50k-75k range, with 202 originations. The second most popular income band? $50k or less, with 198 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 236 $25,470,000 $107,924 $2,156 5.16%
    30-36% 152 $17,440,000 $114,737 $2,458 5.57%
    <20% 117 $11,185,000 $95,598 $1,955 4.96%
    36% 29 $2,975,000 $102,586 $2,141 5.83%
    37% 27 $2,905,000 $107,593 $2,068 5.38%
    39% 24 $2,370,000 $98,750 $1,947 6.20%
    38% 21 $2,285,000 $108,810 $2,933 5.65%
    40% 20 $2,210,000 $110,500 $1,845 5.47%
    41% 17 $1,675,000 $98,529 $3,127 5.43%
    42% 14 $1,460,000 $104,286 $1,240 4.81%
    43% 11 $1,445,000 $131,364 $1,718 3.98%
    45% 8 $810,000 $101,250 $1,643 4.50%
    44% 5 $395,000 $79,000 $1,869 4.60%
    49% 3 $245,000 $81,667 $2,045 5.96%
    46% 3 $275,000 $91,667 $1,263 3.63%
    47% 2 $330,000 $165,000 $3,068 3.31%
    48% 1 $165,000 $165,000 $3,554 3.88%

    Superior Choice lent most frequently to those with DTI ratios of 20-30%, with 236 originations. The next most common DTI ratio? 30-36%, with 152 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 645 $68,785,000 $106,643 $2,127 5.17%
    Not applicable 31 $7,915,000 $255,323 $0 5.95%
    Not provided 29 $2,915,000 $100,517 $3,876 6.24%
    Black 19 $1,665,000 $87,632 $2,768 7.88%
    American Indian 10 $1,080,000 $108,000 $1,873 5.63%
    Filipino 1 $105,000 $105,000 $2,875 3.88%

    Approval Rates

    Total approvals of all applications
    81.65%

    Superior Choice has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    -3.40%

    Superior Choice 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
    1736.6 1 $45,000 $45,000
    2102.17 1 $65,000 $65,000
    2194.62 1 $65,000 $65,000
    2275.0 1 $75,000 $75,000
    2365.0 1 $75,000 $75,000
    2798.35 1 $95,000 $95,000
    2950.0 1 $65,000 $65,000
    3041.0 1 $115,000 $115,000
    3045.46 1 $115,000 $115,000
    3124.0 1 $75,000 $75,000
    3150.0 1 $65,000 $65,000
    3162.0 1 $105,000 $105,000
    3224.4 1 $125,000 $125,000
    3232.0 1 $85,000 $85,000
    3269.0 1 $125,000 $125,000
    3409.0 1 $135,000 $135,000
    3525.0 1 $125,000 $125,000
    3585.0 1 $125,000 $125,000
    3733.0 1 $145,000 $145,000
    3830.0 1 $135,000 $135,000
    3936.54 1 $155,000 $155,000
    4417.0 1 $185,000 $185,000
    4759.0 1 $195,000 $195,000
    799.0 40 $3,890,000 $97,250
    NA 672 $76,080,000 $113,214

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $4,820,000 $1,205,000
    Single Family (1-4 Units):Manufactured 343 $29,885,000 $87,128
    Single Family (1-4 Units):Site-Built 388 $47,760,000 $123,093

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 32 $1,960,000 $61,250 $1,000 4.31%
    40-60% 63 $6,425,000 $101,984 $1,727 4.05%
    60-80% 216 $29,980,000 $138,796 $2,168 4.47%
    80-100% 400 $42,720,000 $106,800 $2,720 5.96%
    Over 100% 6 $630,000 $105,000 $0 6.33%
    Under 20% 13 $375,000 $28,846 $756 5.30%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Superior Home Loans, Inc. Conventional home mortgage Closing on a mortgage 1 100.0%