Superior Choice Mortgage Rates, Fees & Info
Superior, WILEI: 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 12/16/24 |
| 30 Year Conventional Purchase | 6.83% | 12/16/24 |
| 30 Year Conventional Refi | 6.57% | 12/16/24 |
| 30 Year Cash-out Refi | 6.95% | 12/16/24 |
| 15 Year Conventional Purchase | 7.10% | 12/16/24 |
| 15 Year Conventional Refi | 6.57% | 12/16/24 |
| 15 Year Cash-out Refi | 6.57% | 12/16/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
735Origination Dollar Volume (All Markets)
$82,465,000Awards
SUPERIOR CHOICE - 2019
SUPERIOR CHOICE is a 2019 , due to their low .
For 2019, less than of lenders were eligible for this award.
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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% |
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.
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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
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
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
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
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
2019 saw Superior Choice place emphasis on $100,000 or less loans with 395 originations, totaling $25,375,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications81.65%
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
LTV Distribution
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% |