Primeway Mortgage Rates, Fees & Info

Houston, TX

LEI: 549300H6M7CI9LXTKS03

Tax ID: 74-1152784

5 stars - Updated: 4/5/25 - out of 5 stars, based on 15 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • 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 two markets are Houston and Port Lavaca .

    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.

    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 8.21% 4/5/25
    30 Year Conventional Refi 7.91% 4/5/25
    15 Year Conventional Purchase 6.00% 4/5/25
    15 Year Conventional Refi 6.96% 4/5/25
    15 Year Cash-out Refi 6.96% 4/5/25
    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

    236

    Origination Dollar Volume (All Markets)

    $28,960,000

    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 8.04%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of 1.49%.

    Relative Fees (Closing Costs)

    Primeway's average total fees/closing costs for a 30 year fixed rate mortgage were $1,975.

    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 $8,356.

    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) 235 $28,505,000 $121,298 $1,412 7.96%
    Port Lavaca, TX (FHA|USDA|VA) 1 $455,000 $455,000 $5,272 8.19%
    Primeway's top markets include Houston and Port Lavaca 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.

    DSLD MORTGAGE, LLC
    Similarity Rank: 105
    AMOCO
    Similarity Rank: 180
    SCHLUMBERGER EMPLOYEES CREDIT UNION
    Similarity Rank: 275
    FIRST CONTINENTAL MORTGAGE, LTD.
    Similarity Rank: 323
    SMART FINANCIAL CREDIT UNION
    Similarity Rank: 405
    PRIMEWAY
    Similarity Rank: 532
    HOMEWAY MORTGAGE LLC
    Similarity Rank: 586
    FC LENDING, LTD.
    Similarity Rank: 609
    COMMUNITY RESOURCE CREDIT UNION
    Similarity Rank: 675
    MEMBERS CHOICE Credit Union
    Similarity Rank: 1280

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 236 $28,960,000 $122,712 $1,429 7.96%

    For 2024, Primeway's most frequently originated type of loan was Conventional, with 236 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 156 $15,340,000 $98,333 $977 8.02%
    Refi 77 $13,365,000 $173,571 $2,350 7.86%
    Home Purchase 3 $255,000 $85,000 $1,248 7.78%

    For 2024, Primeway's most frequently cited loan purpose was Home Improvement, with 156 originations. The 2nd most popular reason was Refi, with 77 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 68 $11,900,000 $175,000 $1,975 8.04%
    20 Year 60 $8,090,000 $134,833 $2,000 8.41%
    15 Year 55 $5,545,000 $100,818 $852 7.61%
    10 Year 40 $2,340,000 $58,500 $585 7.71%
    Other 7 $775,000 $110,714 $1,308 7.99%
    5 Year 6 $310,000 $51,667 $558 7.56%

    For 2024, Primeway's most frequently cited loan duration was 30 Year, with 68 originations. The 2nd most popular length was 20 Year, with 60 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 236 $28,960,000 $122,712

    Primeway's average total fees were $1,975, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 236 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 126 $13,630,000 $108,175
    Over 8% 88 $11,370,000 $129,205
    6-7% 22 $3,960,000 $180,000

    During 2024, Primeway's average interest rate for loans was 8.04%, 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 127 $7,345,000 $57,835 $581 7.98%
    $100k-200k 64 $9,010,000 $140,781 $1,283 8.03%
    $200k-400k 42 $11,270,000 $268,333 $3,974 7.84%
    $400k-600k 3 $1,335,000 $445,000 $4,784 7.62%

    2024 saw Primeway place emphasis on $100,000 or less loans with 127 originations, totaling $7,345,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 61 $7,435,000 $121,885 $1,814 8.09%
    $50k-75k 47 $4,695,000 $99,894 $1,084 7.72%
    $75k-100k 46 $5,440,000 $118,261 $1,283 7.92%
    $150k-250k 41 $6,635,000 $161,829 $1,604 8.22%
    $50k or less 26 $1,540,000 $59,231 $560 7.56%
    $250k+ 15 $3,215,000 $214,333 $2,411 8.39%

    Primeway lent most frequently to those with incomes in the $100k-150k range, with 61 originations. The second most popular income band? $50k-75k, with 47 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    43% 45 $5,255,000 $116,778 $1,136 8.05%
    30-36% 38 $4,650,000 $122,368 $1,389 8.00%
    20-30% 36 $4,530,000 $125,833 $2,335 7.86%
    <20% 22 $2,500,000 $113,636 $1,339 8.03%
    41% 17 $2,175,000 $127,941 $1,308 8.05%
    38% 15 $1,865,000 $124,333 $1,415 7.77%
    40% 14 $1,870,000 $133,571 $1,255 8.07%
    39% 13 $1,085,000 $83,462 $791 8.07%
    42% 12 $1,240,000 $103,333 $866 7.83%
    37% 7 $905,000 $129,286 $1,251 8.21%
    36% 6 $990,000 $165,000 $1,741 7.53%
    50-60% 3 $625,000 $208,333 $1,752 7.57%
    46% 3 $575,000 $191,667 $2,689 7.99%
    47% 2 $190,000 $95,000 $687 7.88%
    48% 1 $25,000 $25,000 $521 8.10%
    49% 1 $315,000 $315,000 $905 7.49%
    45% 1 $165,000 $165,000 $2,655 8.25%

    Primeway lent most frequently to those with DTI ratios of 43%, with 45 originations. The next most common DTI ratio? 30-36%, with 38 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 142 $18,160,000 $127,887 $1,618 7.96%
    Black 86 $9,760,000 $113,488 $1,131 7.97%
    Asian 7 $925,000 $132,143 $1,307 7.76%
    American Indian 1 $115,000 $115,000 $964 9.50%

    Approval Rates

    Total approvals of all applications
    79.32%

    Primeway has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    91.10%

    Primeway has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 236 $28,960,000 $122,712

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    236 $28,960,000 $122,712

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 74 $7,890,000 $106,622 $986 8.07%
    40-60% 36 $5,380,000 $149,444 $1,445 7.83%
    60-80% 37 $8,495,000 $229,595 $3,507 7.70%
    80-100% 13 $3,035,000 $233,462 $2,802 7.95%
    Under 20% 76 $4,160,000 $54,737 $605 8.06%