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, San Antonio, Dallas, Boise City, and Huntsville among others. We have data for 6 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 a below 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 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% | 5/5/24 |
| 30 Year Conventional Refi | 6.00% | 5/5/24 |
| 15 Year Conventional Purchase | 6.18% | 5/5/24 |
| 15 Year Conventional Refi | 5.67% | 5/5/24 |
| 15 Year Cash-out Refi | 5.67% | 5/5/24 |
| 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
365Origination Dollar Volume (All Markets)
$47,695,000Awards
PRIMEWAY - 2020
PRIMEWAY is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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) | 358 | $46,510,000 | $129,916 | $933 | 3.74% |
| Outside of Metro Areas | 2 | $360,000 | $180,000 | $1,606 | 4.03% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $1,736 | 4.75% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,134 | 3.13% |
| BOISE CITY, ID (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $420 | 2.91% |
| Huntsville, TX (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $351 | 4.34% |
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: 522
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Similarity Rank: 1508
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Similarity Rank: 1848
Similarity Rank: 1895
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 363 | $47,555,000 | $131,006 | $944 | 3.75% |
| HELOC | 2 | $140,000 | $70,000 | n/a | 4.00% |
For 2020, Primeway's most frequently originated type of loan was Conventional, with 363 originations. Their 2nd most popular type was HELOC, with 2 originations.
Loan Reason
For 2020, Primeway's most frequently cited loan purpose was Refi, with 262 originations. The 2nd most popular reason was Home Improvement, with 92 originations.
Loan Duration/Length
For 2020, Primeway's most frequently cited loan duration was 15 Year, with 97 originations. The 2nd most popular length was 20 Year, with 93 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 346 | $42,530,000 | $122,919 |
| $1k-2k | 13 | $2,705,000 | $208,077 |
| $2k-3k | 2 | $1,290,000 | $645,000 |
| $5k+ | 1 | $575,000 | $575,000 |
Primeway's average total fees were $1,740, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 346 originations.
Interest Rates
During 2020, Primeway's average interest rate for loans was 3.65%, while their most frequently originated rate bucket for loans was 3-4%, with 243 originations.
Loan Sizing
2020 saw Primeway place emphasis on $100k-200k loans with 154 originations, totaling $21,110,000 in origination value.
Applicant Income
Primeway lent most frequently to those with incomes in the $50k-75k range, with 93 originations. The second most popular income band? $100k-150k, with 81 originations.
Applicant Debt to Income Ratio
Primeway lent most frequently to those with DTI ratios of 20-30%, with 77 originations. The next most common DTI ratio? 30-36%, with 62 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications80.86%
Primeway has a below average approval rate.
Pick Rate
Approvals leading to origination62.47%
Primeway has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 2 | $140,000 | $70,000 |
| NA | 363 | $47,555,000 | $131,006 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 365 | $47,695,000 | $130,671 |