Premier Mortgage Services Rates, Fees & Info

PUEBLO, CO

LEI: 549300CU8QPZJILTBA54

Tax ID: 84-1118027

5 stars - Updated: 10/7/24 - out of 5 stars, based on 8 reviews

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

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Mortgage Data

Review & Overview

Premier Mortgage Services is a smaller mortgage company specializing in Home Purchase loans. Premier Mortgage Services has a high proportion of conventional loans. They have a a high proportion of FHA loans. Their top markets by origination volume include: Pueblo, Colorado Springs, Denver, and Cañon City among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

Premier Mortgage Services 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. Premier Mortgage Services 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 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
30 Year Conventional Purchase 6.27% 10/7/24
30 Year Conventional Refi 6.27% 10/7/24
30 Year Cash-out Refi 6.27% 10/7/24
30 Year FHA Purchase 6.27% 10/7/24
30 Year FHA Refi 6.27% 10/7/24
30 Year VA Purchase 6.27% 10/7/24
30 Year VA Refi 6.27% 10/7/24
15 Year Conventional Purchase 5.68% 10/7/24
15 Year Conventional Refi 5.68% 10/7/24
15 Year Cash-out Refi 5.68% 10/7/24
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.

Premier Mortgage Services Mortgage Calculator






Your Estimates

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

This is not an official calculator from Premier Mortgage Services. 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

71

Origination Dollar Volume (All Markets)

$19,705,000

Relative Rate

Premier Mortgage Services's average 30 year fixed mortgage rate was 6.45%.

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

This yields a difference of -0.03%.

Relative Fees (Closing Costs)

Premier Mortgage Services's average total fees/closing costs for a 30 year fixed rate mortgage were $8,367.

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
PUEBLO, CO (FHA|USDA|VA) 65 $17,735,000 $272,846 $8,297 6.40%
COLORADO SPRINGS, CO (FHA|USDA|VA) 3 $895,000 $298,333 $5,397 7.46%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $575,000 $575,000 $22,563 7.38%
Cañon City, CO (FHA|USDA|VA) 2 $500,000 $250,000 $7,990 6.00%
Premier Mortgage Services's top markets include Pueblo, Colorado Springs, Denver, and Cañon City among others.

Their top states include:
  • Colorado (FHA|USDA|VA)
  • Similar Lenders

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

    SunWest Credit Union
    Similarity Rank: 22
    HOMEAMERICAN MORTGAGE CORPORATION
    Similarity Rank: 88
    PREMIER MORTGAGE SERVICES, INC.
    Similarity Rank: 100
    Ent Credit Union
    Similarity Rank: 324
    Zions Bank
    Similarity Rank: 1395
    UNIVERSAL LENDING CORPORATION
    Similarity Rank: 1428
    MASON MCDUFFIE MORTGAGE CORPORATION
    Similarity Rank: 4082
    Loan Simple, Inc.
    Similarity Rank: 4980
    PRIMARY RESIDENTIAL MORTGAGE, INC.
    Similarity Rank: 6750
    CORNERSTONE HOME LENDING, INC.
    Similarity Rank: 7098

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 38 $10,150,000 $267,105 $6,368 6.50%
    FHA 26 $7,180,000 $276,154 $10,912 6.41%
    VA 7 $2,375,000 $339,286 $9,765 6.32%

    For 2023, Premier Mortgage Services's most frequently originated type of loan was Conventional, with 38 originations. Their 2nd most popular type was FHA, with 26 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 60 $16,770,000 $279,500 $8,410 6.50%
    Refi 6 $2,000,000 $333,333 $10,195 6.02%
    Cash Out Refi 5 $935,000 $187,000 $5,649 6.35%

    For 2023, Premier Mortgage Services's most frequently cited loan purpose was Home Purchase, with 60 originations. The 2nd most popular reason was Refi, with 6 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 71 $19,705,000 $277,535 $8,367 6.45%

    For 2023, Premier Mortgage Services's most frequently cited loan duration was 30 Year, with 71 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $3k-4k 26 $6,320,000 $243,077
    $5k+ 16 $6,320,000 $395,000
    $4k-5k 14 $4,400,000 $314,286
    $2k-3k 10 $2,060,000 $206,000
    $1k-2k 3 $275,000 $91,667
    $<1k 2 $330,000 $165,000

    Premier Mortgage Services's average total fees were $8,367, while their most frequently occuring range of origination fees (closing costs) were in the $3k-4k bucket, with 26 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 43 $11,485,000 $267,093
    5-6% 16 $4,150,000 $259,375
    7-8% 11 $3,595,000 $326,818
    4-5% 1 $475,000 $475,000

    During 2023, Premier Mortgage Services's average interest rate for loans was 6.45%, while their most frequently originated rate bucket for loans was 6-7%, with 43 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 46 $12,260,000 $266,522 $8,032 6.57%
    $100k-200k 11 $1,785,000 $162,273 $5,451 6.26%
    $400k-600k 9 $4,135,000 $459,444 $14,668 6.14%
    $100,000 or less 3 $245,000 $81,667 $3,861 5.88%
    $600k-1MM 2 $1,280,000 $640,000 $10,509 6.88%

    2023 saw Premier Mortgage Services place emphasis on $200k-400k loans with 46 originations, totaling $12,260,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 20 $5,970,000 $298,500 $8,506 6.54%
    $50k-75k 19 $4,215,000 $221,842 $7,693 6.55%
    $100k-150k 14 $4,220,000 $301,429 $9,243 6.28%
    $50k or less 11 $1,765,000 $160,455 $6,216 6.17%
    $150k-250k 6 $2,880,000 $480,000 $11,812 6.63%
    $250k+ 1 $655,000 $655,000 $9,089 7.13%

    Premier Mortgage Services lent most frequently to those with incomes in the $75k-100k range, with 20 originations. The second most popular income band? $50k-75k, with 19 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    49% 11 $3,845,000 $349,545 $10,904 6.42%
    20-30% 9 $2,405,000 $267,222 $6,946 6.11%
    30-36% 9 $2,315,000 $257,222 $6,830 6.51%
    50-60% 7 $2,045,000 $292,143 $10,787 6.39%
    48% 6 $1,690,000 $281,667 $10,288 6.42%
    40% 4 $900,000 $225,000 $5,403 6.38%
    44% 4 $940,000 $235,000 $6,647 6.75%
    42% 3 $805,000 $268,333 $8,059 6.92%
    43% 3 $575,000 $191,667 $6,139 6.33%
    45% 3 $1,105,000 $368,333 $12,979 6.54%
    47% 2 $420,000 $210,000 $4,442 6.81%
    38% 2 $910,000 $455,000 $9,666 6.56%
    36% 2 $680,000 $340,000 $8,939 6.81%
    46% 2 $320,000 $160,000 $6,650 6.44%
    <20% 1 $235,000 $235,000 $4,103 6.13%
    39% 1 $115,000 $115,000 $3,876 6.38%
    41% 1 $135,000 $135,000 $5,720 6.25%
    37% 1 $265,000 $265,000 $10,047 6.50%

    Premier Mortgage Services lent most frequently to those with DTI ratios of 49%, with 11 originations. The next most common DTI ratio? 20-30%, with 9 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 70 $19,480,000 $278,286 $8,309 6.45%
    Black 1 $225,000 $225,000 $12,405 6.63%

    Approval Rates

    Total approvals of all applications
    97.83%

    Premier Mortgage Services 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
    73.24%

    Premier Mortgage Services has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 71 $19,705,000 $277,535

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    71 $19,705,000 $277,535

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 3 $645,000 $215,000 $9,459 5.88%
    40-60% 6 $1,440,000 $240,000 $6,498 5.96%
    60-80% 20 $5,570,000 $278,500 $7,381 6.65%
    80-100% 39 $11,455,000 $293,718 $8,974 6.49%
    Over 100% 1 $445,000 $445,000 $20,167 6.75%
    Under 20% 2 $150,000 $75,000 $4,450 5.75%