Priorityone Bank Mortgage Rates, Fees & Info
Magee, MSLEI: 549300CYL5ZW4ISL7T55
Tax ID: 64-0560130
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Mortgage Data
Review & Overview
Priorityone Bank is a smaller bank specializing in Home Purchase loans. Priorityone Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Jackson, Hattiesburg, Daphne, Crestview, and Memphis among others. We have data for 24 markets. (Some data included below & more in-depth data is available with an active subscription.)Priorityone Bank 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. 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.86% | 12/16/24 |
| 30 Year Conventional Refi | 7.16% | 12/16/24 |
| 30 Year Cash-out Refi | 6.69% | 12/16/24 |
| 30 Year FHA Purchase | 7.31% | 12/16/24 |
| 30 Year FHA Refi | 7.33% | 12/16/24 |
| 30 Year VA Purchase | 6.30% | 12/16/24 |
| 30 Year USDA Purchase | 6.70% | 12/16/24 |
| 15 Year Conventional Purchase | 6.39% | 12/16/24 |
| 15 Year Conventional Refi | 6.55% | 12/16/24 |
| 15 Year Cash-out Refi | 6.55% | 12/16/24 |
| 15 Year FHA Refi | 6.28% | 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. | ||
Priorityone Bank Mortgage Calculator
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
378Origination Dollar Volume (All Markets)
$74,860,000Relative Rate
Priorityone Bank's average 30 year fixed mortgage rate was
6.88%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.4%.
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 |
|---|---|---|---|---|---|
| JACKSON, MS (FHA|USDA|VA) | 182 | $31,140,000 | $171,099 | $0 | 6.13% |
| HATTIESBURG, MS (FHA|USDA|VA) | 116 | $18,590,000 | $160,259 | $0 | 6.21% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 6 | $5,820,000 | $970,000 | $0 | 6.16% |
| Outside of Metro Areas | 32 | $4,830,000 | $150,938 | $0 | 6.64% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $4,505,000 | $4,505,000 | $0 | 7.75% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 10 | $3,520,000 | $352,000 | $0 | 6.17% |
| Laurel, MS (FHA|USDA|VA) | 6 | $1,150,000 | $191,667 | $0 | 6.67% |
| Oxford, MS (FHA|USDA|VA) | 3 | $1,035,000 | $345,000 | $0 | 6.96% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 6 | $1,010,000 | $168,333 | $0 | 6.53% |
| MORRISTOWN, TN (FHA|USDA|VA) | 1 | $635,000 | $635,000 | $0 | 8.50% |
| Starkville, MS (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $0 | 6.63% |
| Cleveland, MS (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $0 | 6.00% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 3.95% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 6.88% |
| Greenwood, SC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 7.25% |
| Vicksburg, MS (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 3.95% |
| Picayune, MS (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 7.25% |
| LAFAYETTE, LA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 3.95% |
| Clarksdale, MS (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 6.75% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 6.50% |
| Tupelo, MS (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 6.25% |
| MOBILE, AL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 5.75% |
| Greenwood, MS (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 6.25% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 3.95% |
Product Mix
For 2023, Priorityone Bank's most frequently originated type of loan was HELOC, with 198 originations. Their 2nd most popular type was Conventional, with 120 originations.
Loan Reason
For 2023, Priorityone Bank's most frequently cited loan purpose was Home Purchase, with 156 originations. The 2nd most popular reason was Home Improvement, with 81 originations.
Loan Duration/Length
For 2023, Priorityone Bank's most frequently cited loan duration was Other, with 205 originations. The 2nd most popular length was 30 Year, with 117 originations.
Origination Fees/Closing Costs
Priorityone Bank's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 61 originations.
Interest Rates
During 2023, Priorityone Bank's average interest rate for loans was 6.88%, while their most frequently originated rate bucket for loans was 6-7%, with 97 originations.
Loan Sizing
2023 saw Priorityone Bank place emphasis on $100,000 or less loans with 150 originations, totaling $8,650,000 in origination value.
Applicant Income
Priorityone Bank lent most frequently to those with incomes in the $100k-150k range, with 93 originations. The second most popular income band? $150k-250k, with 69 originations.
Applicant Debt to Income Ratio
Priorityone Bank lent most frequently to those with DTI ratios of 20-30%, with 93 originations. The next most common DTI ratio? 30-36%, with 71 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.41%
Priorityone Bank has an average approval rate.
Pick Rate
Approvals leading to origination87.30%
Priorityone Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 378 | $74,860,000 | $198,042 |