Performance Mortgage Rates, Fees & Info

MERAUX, LA

LEI: 549300HPJZBSYILQTY06

Tax ID: 81-3503395

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

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Mortgage Data

  • Originations
  • 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

    Performance Mortgage is a smaller mortgage company specializing in Home Purchase loans. They have a a high proportion of FHA loans. Performance Mortgage has a high proportion of conventional loans. Their top markets by origination volume include: New Orleans, Louisville, Baton Rouge, Hammond, and Houston among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Performance Mortgage 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. Performance Mortgage 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.

    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.


    Originations

    149

    Origination Dollar Volume (All Markets)

    $27,475,000

    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
    NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 106 $19,930,000 $188,019 $5,347 4.33%
    LOUISVILLE, KY (FHA|USDA|VA) 23 $3,645,000 $158,478 $4,421 4.58%
    BATON ROUGE, LA (FHA|USDA|VA) 5 $935,000 $187,000 $7,187 4.78%
    HAMMOND, LA (FHA|USDA|VA) 2 $450,000 $225,000 $5,209 3.56%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $445,000 $445,000 $10,787 2.88%
    Scottsburg, IN (FHA|USDA|VA) 3 $355,000 $118,333 $4,904 4.83%
    Picayune, MS (FHA|USDA|VA) 2 $310,000 $155,000 $4,975 4.38%
    GULFPORT-BILOXI, MS (FHA|USDA|VA) 1 $305,000 $305,000 $12,177 5.13%
    Natchitoches, LA (FHA|USDA|VA) 1 $285,000 $285,000 $10,350 4.25%
    LAKE CHARLES, LA (FHA|USDA|VA) 1 $225,000 $225,000 $7,694 3.63%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $185,000 $185,000 $4,521 4.88%
    EVANSVILLE, IN-KY (FHA|USDA|VA) 1 $185,000 $185,000 $2,864 4.50%
    Outside of Metro Areas 1 $125,000 $125,000 $7,528 9.13%
    Morgan City, LA (FHA|USDA|VA) 1 $95,000 $95,000 $3,702 3.88%
    Performance Mortgage's top markets include New Orleans, Louisville, Baton Rouge, Hammond, and Houston among others.

    Their top states include:
  • Louisiana (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against PERFORMANCE MORTGAGE based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    First Castle Federal Credit Union
    Similarity Rank: 180
    Eureka Homestead
    Similarity Rank: 201
    Advanz Federal Credit Union
    Similarity Rank: 360
    Guardian Savings Bank, A Federal Savings Bank
    Similarity Rank: 360
    JEFFERSON FINANCIAL
    Similarity Rank: 400
    The Peoples Bank
    Similarity Rank: 400
    COMMONWEALTH
    Similarity Rank: 408
    GREATER NEW ORLEANS
    Similarity Rank: 516
    America's Mortgage Resource, Inc.
    Similarity Rank: 612
    TRANSCEND
    Similarity Rank: 702

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    FHA 52 $9,330,000 $179,423 $6,819 4.42%
    Conventional 51 $9,835,000 $192,843 $3,772 4.67%
    USDA 26 $4,230,000 $162,692 $5,381 4.10%
    VA 20 $4,080,000 $204,000 $5,613 4.10%

    For 2019, Performance Mortgage's most frequently originated type of loan was FHA, with 52 originations. Their 2nd most popular type was Conventional, with 51 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 124 $22,410,000 $180,726 $5,694 4.49%
    Refi 14 $2,780,000 $198,571 $3,544 3.79%
    Cash Out Refi 11 $2,285,000 $207,727 $3,944 4.28%

    For 2019, Performance Mortgage's most frequently cited loan purpose was Home Purchase, with 124 originations. The 2nd most popular reason was Refi, with 14 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 147 $27,285,000 $185,612 $5,390 4.41%
    15 Year 2 $190,000 $95,000 $3,372 4.25%

    For 2019, Performance Mortgage's most frequently cited loan duration was 30 Year, with 147 originations. The 2nd most popular length was 15 Year, with 2 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 107 $19,175,000 $179,206
    $<1k 23 $4,895,000 $212,826
    $2k-3k 8 $1,110,000 $138,750
    $3k-4k 5 $1,175,000 $235,000
    $5k+ 4 $730,000 $182,500
    $4k-5k 2 $390,000 $195,000

    Performance Mortgage's average total fees were $5,390, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 107 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 83 $13,305,000 $160,301
    3-4% 42 $9,680,000 $230,476
    5-6% 21 $3,735,000 $177,857
    2.5-3% 2 $630,000 $315,000
    Over 8% 1 $125,000 $125,000

    During 2019, Performance Mortgage's average interest rate for loans was 4.41%, while their most frequently originated rate bucket for loans was 4-5%, with 83 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 87 $13,165,000 $151,322 $5,006 4.47%
    $200k-400k 43 $10,935,000 $254,302 $6,545 4.22%
    $100,000 or less 14 $1,120,000 $80,000 $4,002 4.85%
    $400k-600k 5 $2,255,000 $451,000 $5,236 3.60%

    2019 saw Performance Mortgage place emphasis on $100k-200k loans with 87 originations, totaling $13,165,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 59 $8,875,000 $150,424 $4,785 4.35%
    $50k-75k 47 $7,975,000 $169,681 $5,809 4.42%
    $75k-100k 24 $5,290,000 $220,417 $6,699 4.43%
    $100k-150k 13 $3,445,000 $265,000 $4,589 4.66%
    $150k-250k 5 $1,705,000 $341,000 $4,099 4.40%

    Performance Mortgage lent most frequently to those with incomes in the $50k or less range, with 59 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
    20-30% 25 $3,795,000 $151,800 $4,437 4.63%
    30-36% 23 $4,325,000 $188,043 $5,387 4.37%
    50-60% 11 $2,045,000 $185,909 $7,059 4.41%
    39% 9 $1,325,000 $147,222 $5,717 4.83%
    43% 8 $1,500,000 $187,500 $6,665 4.39%
    49% 8 $1,450,000 $181,250 $6,069 4.72%
    38% 8 $1,920,000 $240,000 $4,986 4.56%
    42% 5 $765,000 $153,000 $5,454 4.80%
    40% 5 $875,000 $175,000 $6,176 4.00%
    41% 5 $1,105,000 $221,000 $6,612 4.43%
    45% 5 $1,015,000 $203,000 $7,159 3.93%
    48% 5 $1,055,000 $211,000 $5,334 4.35%
    47% 4 $820,000 $205,000 $5,208 3.84%
    44% 4 $1,230,000 $307,500 $4,010 4.41%
    37% 3 $465,000 $155,000 $5,517 4.58%
    36% 3 $505,000 $168,333 $5,214 4.62%
    <20% 3 $365,000 $121,667 $3,576 4.79%
    46% 2 $340,000 $170,000 $6,767 3.69%

    Performance Mortgage lent most frequently to those with DTI ratios of 20-30%, with 25 originations. The next most common DTI ratio? 30-36%, with 23 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 115 $21,785,000 $189,435 $5,292 4.36%
    Black 25 $4,035,000 $161,400 $5,788 4.68%
    Asian 8 $1,530,000 $191,250 $5,278 4.13%
    Not applicable 1 $125,000 $125,000 $3,565 4.63%

    Approval Rates

    Total approvals of all applications
    71.54%

    Performance Mortgage has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    -112.08%

    Performance Mortgage 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
    NA 149 $27,475,000 $184,396

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $95,000 $95,000
    Single Family (1-4 Units):Site-Built 148 $27,380,000 $185,000

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    40-60% 4 $360,000 $90,000 $3,056 4.59%
    60-80% 22 $4,210,000 $191,364 $3,835 4.60%
    80-100% 121 $22,515,000 $186,074 $5,701 4.37%
    Over 100% 2 $390,000 $195,000 $6,325 4.06%