Priorityone Bank Mortgage Rates, Fees & Info

Magee, MS

LEI: 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.

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
30 Year Conventional Purchase 6.86% 12/2/24
30 Year Conventional Refi 7.16% 12/2/24
30 Year Cash-out Refi 6.69% 12/2/24
30 Year FHA Purchase 7.31% 12/2/24
30 Year FHA Refi 7.33% 12/2/24
30 Year VA Purchase 6.30% 12/2/24
30 Year USDA Purchase 6.70% 12/2/24
15 Year Conventional Purchase 6.39% 12/2/24
15 Year Conventional Refi 6.55% 12/2/24
15 Year Cash-out Refi 6.55% 12/2/24
15 Year FHA Refi 6.28% 12/2/24
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

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

This is not an official calculator from Priorityone Bank. 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

378

Origination Dollar Volume (All Markets)

$74,860,000

Relative 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%
Priorityone Bank's top markets include Jackson, Hattiesburg, Daphne, Crestview, and Memphis among others.

Their top states include:
  • Mississippi (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 198 $24,750,000 $125,000 n/a 5.19%
    Conventional 120 $35,800,000 $298,333 $0 7.81%
    FHA 47 $11,775,000 $250,532 $0 6.46%
    USDA 9 $1,615,000 $179,444 $0 6.38%
    VA 4 $920,000 $230,000 $0 6.56%

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 156 $47,560,000 $304,872 $0 7.01%
    Home Improvement 81 $6,305,000 $77,840 $0 5.24%
    Refi 73 $14,615,000 $200,205 $0 6.23%
    Other 64 $5,880,000 $91,875 $0 5.46%
    Cash Out Refi 4 $500,000 $125,000 $0 7.38%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 205 $25,935,000 $126,512 $0 5.32%
    30 Year 117 $29,705,000 $253,889 $0 6.88%
    15 Year 22 $10,080,000 $458,182 $0 7.30%
    20 Year 19 $7,635,000 $401,842 $0 8.36%
    1 Year 8 $1,180,000 $147,500 $0 8.84%
    10 Year 6 $310,000 $51,667 $0 8.92%
    5 Year 1 $15,000 $15,000 $0 12.00%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 61 $14,775,000 $242,213
    $<1k 30 $4,870,000 $162,333
    $2k-3k 15 $3,745,000 $249,667
    $5k+ 15 $6,735,000 $449,000
    $3k-4k 12 $3,570,000 $297,500
    $4k-5k 8 $3,030,000 $378,750

    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

    Loan Rate Originations Total Value Average Loan
    6-7% 97 $22,235,000 $229,227
    3-4% 92 $12,870,000 $139,891
    5-6% 80 $10,940,000 $136,750
    Over 8% 66 $10,470,000 $158,636
    7-8% 40 $16,680,000 $417,000
    4-5% 2 $1,610,000 $805,000
    <2.5% 1 $55,000 $55,000

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 150 $8,650,000 $57,667 $0 5.82%
    $100k-200k 100 $14,470,000 $144,700 $0 6.31%
    $200k-400k 89 $24,485,000 $275,112 $0 6.72%
    $400k-600k 28 $12,920,000 $461,429 $0 6.53%
    $600k-1MM 8 $5,900,000 $737,500 $0 5.98%
    $1MM+ 3 $8,435,000 $2,811,667 $0 6.32%

    2023 saw Priorityone Bank place emphasis on $100,000 or less loans with 150 originations, totaling $8,650,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 93 $15,875,000 $170,699 $0 5.91%
    $150k-250k 69 $16,845,000 $244,130 $0 6.19%
    $50k-75k 57 $7,455,000 $130,789 $0 6.19%
    $75k-100k 54 $6,780,000 $125,556 $0 5.79%
    $50k or less 35 $3,235,000 $92,429 $0 6.72%
    $250k+ 33 $14,105,000 $427,424 $0 5.81%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 93 $12,935,000 $139,086 $0 5.91%
    30-36% 71 $11,935,000 $168,099 $0 5.66%
    <20% 45 $5,285,000 $117,444 $0 5.92%
    40% 21 $4,345,000 $206,905 $0 6.19%
    39% 21 $4,545,000 $216,429 $0 6.58%
    36% 17 $2,655,000 $156,176 $0 5.60%
    50-60% 13 $4,805,000 $369,615 $0 6.60%
    37% 13 $3,115,000 $239,615 $0 6.22%
    42% 12 $2,390,000 $199,167 $0 6.64%
    38% 10 $3,000,000 $300,000 $0 5.39%
    41% 10 $1,860,000 $186,000 $0 7.21%
    44% 5 $925,000 $185,000 $0 6.41%
    49% 4 $830,000 $207,500 $0 6.59%
    45% 4 $1,700,000 $425,000 $0 6.19%
    48% 4 $420,000 $105,000 $0 6.72%
    >60% 3 $405,000 $135,000 $0 8.46%
    46% 3 $1,195,000 $398,333 $0 7.42%
    47% 2 $750,000 $375,000 $0 7.00%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 307 $55,965,000 $182,296 $0 5.96%
    Not applicable 25 $8,835,000 $353,400 $0 8.38%
    Not provided 17 $4,805,000 $282,647 $0 6.85%
    Black 22 $3,570,000 $162,273 $0 6.66%
    Asian Indian 2 $850,000 $425,000 $0 6.12%
    Asian 4 $660,000 $165,000 $0 7.24%
    American Indian 1 $175,000 $175,000 $0 6.75%

    Approval Rates

    Total approvals of all applications
    92.41%

    Priorityone Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.30%

    Priorityone Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 378 $74,860,000 $198,042

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    378 $74,860,000 $198,042

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 84 $9,360,000 $111,429 $0 5.72%
    40-60% 35 $5,415,000 $154,714 $0 6.43%
    60-80% 80 $26,200,000 $327,500 $0 7.13%
    80-100% 110 $30,200,000 $274,545 $0 6.45%
    Under 20% 69 $3,685,000 $53,406 $0 5.31%