Performance Equity Partners Mortgage Rates, Fees & Info
TINLEY PARK, ILLEI: 549300CN50N3250U7V79
Tax ID: 20-8552989
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Mortgage Data
Review & Overview
Performance Equity Partners is a smaller mortgage company specializing in Home Purchase loans. Performance Equity Partners has a high proportion of conventional loans.Performance Equity Partners has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 15 Year Conventional Purchase | 12.86% | 4/28/24 |
| 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. | ||
Performance Equity Partners Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
457Origination Dollar Volume (All Markets)
$12,375,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 457 | $12,375,000 | $27,079 | $0 | 11.29% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 457 | $12,375,000 | $27,079 | $0 | 11.29% |
For 2020, Performance Equity Partners's most frequently originated type of loan was Conventional, with 457 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 457 | $12,375,000 | $27,079 | $0 | 11.29% |
For 2020, Performance Equity Partners's most frequently cited loan purpose was Home Purchase, with 457 originations.
Loan Duration/Length
For 2020, Performance Equity Partners's most frequently cited loan duration was Other, with 161 originations. The 2nd most popular length was 10 Year, with 154 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 456 | $12,340,000 | $27,061 |
During 2020, Performance Equity Partners's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 456 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 456 | $12,180,000 | $26,711 | $0 | 11.29% |
| $100k-200k | 1 | $195,000 | $195,000 | $0 | 11.00% |
2020 saw Performance Equity Partners place emphasis on $100,000 or less loans with 456 originations, totaling $12,180,000 in origination value.
Applicant Income
Performance Equity Partners lent most frequently to those with incomes in the $50k or less range, with 299 originations. The second most popular income band? $50k-75k, with 123 originations.
Applicant Debt to Income Ratio
Performance Equity Partners lent most frequently to those with DTI ratios of 30-36%, with 125 originations. The next most common DTI ratio? 20-30%, with 116 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications54.83%
Performance Equity Partners has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination22.54%
Performance Equity Partners 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 |
|---|---|---|---|
| 119.5 | 1 | $25,000 | $25,000 |
| 15.0 | 75 | $1,965,000 | $26,200 |
| 265.0 | 20 | $370,000 | $18,500 |
| 285.0 | 1 | $25,000 | $25,000 |
| 295.0 | 1 | $25,000 | $25,000 |
| 298.0 | 1 | $25,000 | $25,000 |
| 315.0 | 2 | $70,000 | $35,000 |
| 343.0 | 1 | $25,000 | $25,000 |
| 35.0 | 1 | $15,000 | $15,000 |
| 365.0 | 1 | $5,000 | $5,000 |
| 375.0 | 1 | $25,000 | $25,000 |
| 419.0 | 1 | $45,000 | $45,000 |
| 431.0 | 1 | $45,000 | $45,000 |
| 446.0 | 1 | $45,000 | $45,000 |
| 447.0 | 1 | $45,000 | $45,000 |
| 495.0 | 1 | $15,000 | $15,000 |
| 515.0 | 8 | $220,000 | $27,500 |
| 542.0 | 1 | $15,000 | $15,000 |
| 600.0 | 1 | $15,000 | $15,000 |
| 606.0 | 1 | $35,000 | $35,000 |
| 61.0 | 1 | $15,000 | $15,000 |
| 612.0 | 1 | $45,000 | $45,000 |
| 615.0 | 332 | $9,180,000 | $27,651 |
| 630.0 | 1 | $45,000 | $45,000 |
| NA | 1 | $35,000 | $35,000 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 457 | $12,375,000 | $27,079 |
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| PREFERRED MORTGAGE CORPORATION | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |
| PREFERRED MORTGAGE CORPORATION | Conventional home mortgage | Closing on a mortgage | 1 | 50.0% |