Primeway Mortgage Rates, Fees & Info

Houston, TX

LEI: 549300H6M7CI9LXTKS03

Tax ID: 74-1152784

5 stars - Updated: 12/6/24 - out of 5 stars, based on 16 reviews

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

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Mortgage Data

Review & Overview

Primeway is a smaller mortgage company specializing in Home Improvement and Refi loans. Primeway has a high proportion of conventional loans. Their top markets by origination volume include: Houston, Austin, Huntsville, and Beaumont among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

Primeway has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. Primeway 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 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 6.56% 12/6/24
30 Year Conventional Refi 6.00% 12/6/24
15 Year Conventional Purchase 6.18% 12/6/24
15 Year Conventional Refi 5.67% 12/6/24
15 Year Cash-out Refi 5.67% 12/6/24
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.

Primeway Mortgage Calculator






Your Estimates

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

This is not an official calculator from Primeway. 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

266

Origination Dollar Volume (All Markets)

$29,450,000

Awards

PRIMEWAY 30 Year Conventional Loans gold PRIMEWAY 30 Year Conventional Loans gold
Show all (2) awards

Relative Rate

Primeway's average 30 year fixed mortgage rate was 7.54%.

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

This yields a difference of 1.06%.

Relative Fees (Closing Costs)

Primeway's average total fees/closing costs for a 30 year fixed rate mortgage were $1,572.

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
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 263 $29,165,000 $110,894 $1,205 7.46%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $155,000 $155,000 $590 6.50%
Huntsville, TX (FHA|USDA|VA) 1 $105,000 $105,000 $694 8.60%
BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 1 $25,000 $25,000 $441 9.55%
Primeway's top markets include Houston, Austin, Huntsville, and Beaumont among others.

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

    We use machine learning to identify the top lenders compared against PRIMEWAY 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 266 $29,450,000 $110,714 $1,198 7.47%

    For 2023, Primeway's most frequently originated type of loan was Conventional, with 266 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 169 $14,255,000 $84,349 $786 7.63%
    Refi 91 $14,245,000 $156,538 $1,921 7.18%
    Cash Out Refi 6 $950,000 $158,333 $1,820 7.40%

    For 2023, Primeway's most frequently cited loan purpose was Home Improvement, with 169 originations. The 2nd most popular reason was Refi, with 91 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 90 $13,940,000 $154,889 $1,572 7.54%
    15 Year 64 $5,580,000 $87,188 $657 6.99%
    20 Year 62 $6,010,000 $96,935 $1,619 7.95%
    10 Year 30 $1,880,000 $62,667 $451 7.33%
    Other 19 $2,015,000 $106,053 $1,087 7.55%
    5 Year 1 $25,000 $25,000 $445 7.00%

    For 2023, Primeway's most frequently cited loan duration was 30 Year, with 90 originations. The 2nd most popular length was 15 Year, with 64 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 266 $29,450,000 $110,714

    Primeway's average total fees were $1,572, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 266 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 126 $12,840,000 $101,905
    6-7% 96 $12,710,000 $132,396
    Over 8% 39 $3,465,000 $88,846

    During 2023, Primeway's average interest rate for loans was 7.54%, while their most frequently originated rate bucket for loans was 7-8%, with 126 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 145 $8,305,000 $57,276 $820 7.55%
    $100k-200k 89 $12,465,000 $140,056 $1,186 7.42%
    $200k-400k 31 $8,255,000 $266,290 $2,943 7.30%
    $400k-600k 1 $425,000 $425,000 $2,894 6.65%

    2023 saw Primeway place emphasis on $100,000 or less loans with 145 originations, totaling $8,305,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 66 $8,930,000 $135,303 $1,314 7.68%
    $50k-75k 58 $5,490,000 $94,655 $896 7.34%
    $100k-150k 54 $5,860,000 $108,519 $928 7.53%
    $75k-100k 52 $5,660,000 $108,846 $1,113 7.42%
    $50k or less 27 $2,115,000 $78,333 $2,201 7.15%
    $250k+ 9 $1,395,000 $155,000 $1,391 7.73%

    Primeway lent most frequently to those with incomes in the $150k-250k range, with 66 originations. The second most popular income band? $50k-75k, with 58 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    43% 56 $6,420,000 $114,643 $1,180 7.56%
    30-36% 44 $4,520,000 $102,727 $955 7.28%
    20-30% 39 $4,195,000 $107,564 $1,996 7.21%
    42% 29 $3,095,000 $106,724 $1,179 7.72%
    40% 21 $2,345,000 $111,667 $852 7.34%
    41% 18 $1,810,000 $100,556 $1,026 7.74%
    37% 13 $975,000 $75,000 $680 7.81%
    39% 12 $1,750,000 $145,833 $1,006 7.45%
    36% 11 $1,465,000 $133,182 $1,027 7.51%
    38% 10 $1,470,000 $147,000 $1,435 7.51%
    <20% 5 $455,000 $91,000 $819 7.04%
    50-60% 4 $570,000 $142,500 $1,659 7.75%
    >60% 2 $100,000 $50,000 $615 7.45%
    45% 1 $175,000 $175,000 $2,734 6.99%
    46% 1 $105,000 $105,000 $844 8.00%

    Primeway lent most frequently to those with DTI ratios of 43%, with 56 originations. The next most common DTI ratio? 30-36%, with 44 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 169 $19,285,000 $114,112 $1,300 7.43%
    Black 88 $8,880,000 $100,909 $971 7.56%
    Asian 5 $645,000 $129,000 $1,346 7.28%
    Asian Indian 2 $320,000 $160,000 $1,782 7.77%
    Filipino 1 $235,000 $235,000 $2,600 7.59%
    Other Asian 1 $85,000 $85,000 $643 8.00%

    Approval Rates

    Total approvals of all applications
    81.38%

    Primeway has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    93.23%

    Primeway has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 266 $29,450,000 $110,714

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    266 $29,450,000 $110,714

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 83 $7,825,000 $94,277 $763 7.50%
    40-60% 31 $3,995,000 $128,871 $2,395 7.22%
    60-80% 50 $9,210,000 $184,200 $1,857 7.16%
    80-100% 15 $3,385,000 $225,667 $2,406 7.20%
    Under 20% 87 $5,035,000 $57,874 $598 7.76%