Primeway Mortgage Rates, Fees & Info
Houston, TXLEI: 549300H6M7CI9LXTKS03
Tax ID: 74-1152784
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Mortgage Data
Review & Overview
Primeway is a smaller mortgage company specializing in Refi loans. Primeway has a high proportion of conventional loans. Their top markets by origination volume include: Houston, Odessa, College Station, Brenham, and Dallas among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)Primeway has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Primeway 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 about average 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 | 6.56% | 11/22/24 |
| 30 Year Conventional Refi | 6.00% | 11/22/24 |
| 15 Year Conventional Purchase | 6.18% | 11/22/24 |
| 15 Year Conventional Refi | 5.67% | 11/22/24 |
| 15 Year Cash-out Refi | 5.67% | 11/22/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
248Origination Dollar Volume (All Markets)
$27,520,000Top 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) | 241 | $26,745,000 | $110,975 | $802 | 4.58% |
| Outside of Metro Areas | 1 | $315,000 | $315,000 | $2,549 | 4.07% |
| ODESSA, TX (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 5.25% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $835 | 4.15% |
| Brenham, TX (FHA|USDA|VA) | 2 | $70,000 | $35,000 | $295 | 4.47% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $303 | 4.30% |
| WACO, TX (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $303 | 3.96% |
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.
Similarity Rank: 368
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Similarity Rank: 1060
Similarity Rank: 1296
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 242 | $26,720,000 | $110,413 | $801 | 4.56% |
| HELOC | 6 | $800,000 | $133,333 | n/a | 6.00% |
For 2019, Primeway's most frequently originated type of loan was Conventional, with 242 originations. Their 2nd most popular type was HELOC, with 6 originations.
Loan Reason
For 2019, Primeway's most frequently cited loan purpose was Refi, with 178 originations. The 2nd most popular reason was Home Improvement, with 55 originations.
Loan Duration/Length
For 2019, Primeway's most frequently cited loan duration was 20 Year, with 106 originations. The 2nd most popular length was 15 Year, with 46 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 238 | $26,330,000 | $110,630 |
Primeway's average total fees were $10,806, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 238 originations.
Interest Rates
During 2019, Primeway's average interest rate for loans was 4.15%, while their most frequently originated rate bucket for loans was 4-5%, with 137 originations.
Loan Sizing
2019 saw Primeway place emphasis on $100,000 or less loans with 145 originations, totaling $8,495,000 in origination value.
Applicant Income
Primeway lent most frequently to those with incomes in the $100k-150k range, with 52 originations. The second most popular income band? $50k-75k, with 52 originations.
Applicant Debt to Income Ratio
Primeway lent most frequently to those with DTI ratios of 30-36%, with 55 originations. The next most common DTI ratio? 20-30%, with 46 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications64.19%
Primeway has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination81.85%
Primeway has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 3 | $205,000 | $68,333 |
| NA | 245 | $27,315,000 | $111,490 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 1 | $505,000 | $505,000 |
| Single Family (1-4 Units):Site-Built | 247 | $27,015,000 | $109,372 |