Premier America Mortgage Rates, Fees & Info

Los Angeles, CA

LEI: 549300HVFLWKU7133506

Tax ID: 95-3442691

1 stars - out of 5 stars, based on 28 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Premier America is a smaller mortgage company specializing in Home Purchase loans. Premier America has a high proportion of conventional loans. Their top markets include Los Angeles, Oxnard, San Francisco, San Diego, and Riverside among others. Premier America has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Premier America is typically a high fee lendor.


Originations

757

Origination Dollar Volume (All Markets)

$731,155,000

Awards

PREMIER AMERICA 30 Year Conventional Loans bronze
Show all (1) awards

Relative Rate

Premier America's average 30 year fixed rate mortgage of loans were 3.2%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.05%.

Relative Fees

Premier America's average total fees for a 30 year fixed rate mortgage are $20,040.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 451 $571,615,000 $1,267,439 $22,952 3.42%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 160 $38,120,000 $238,250 $4,327 3.64%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 18 $25,370,000 $1,409,444 $23,785 3.45%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 11 $15,375,000 $1,397,727 $29,604 3.33%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 23 $15,245,000 $662,826 $9,035 3.49%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 9 $14,625,000 $1,625,000 $20,447 3.56%
Heber, UT (FHA|USDA|VA) 2 $10,510,000 $5,255,000 $12,243 3.38%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 3 $8,525,000 $2,841,667 $39,488 3.38%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 35 $6,525,000 $186,429 $4,129 3.34%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 3 $5,775,000 $1,925,000 $46,114 3.62%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 2 $2,970,000 $1,485,000 $26,004 3.19%
Outside of Metro Areas 3 $1,725,000 $575,000 $9,158 3.33%
Edwards, CO (FHA|USDA|VA) 1 $1,465,000 $1,465,000 $4,634 3.63%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 2 $1,440,000 $720,000 $24,485 3.88%
PROVO-OREM, UT (FHA|USDA|VA) 1 $1,005,000 $1,005,000 $4,947 3.00%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 2 $960,000 $480,000 $8,124 3.81%
RENO, NV (FHA|USDA|VA) 1 $945,000 $945,000 $4,780 3.13%
BOISE CITY, ID (FHA|USDA|VA) 1 $855,000 $855,000 $6,949 2.88%
STOCKTON, CA (FHA|USDA|VA) 2 $810,000 $405,000 $3,540 2.81%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 1 $725,000 $725,000 $3,123 3.00%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 2 $660,000 $330,000 $4,890 3.38%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $615,000 $615,000 $5,335 3.25%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 3 $615,000 $205,000 $2,644 3.21%
MORRISTOWN, TN (FHA|USDA|VA) 2 $550,000 $275,000 $3,587 3.25%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $535,000 $535,000 $3,410 2.75%
Newport, OR (FHA|USDA|VA) 1 $505,000 $505,000 $4,725 2.63%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $385,000 $385,000 $4,152 3.25%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $350,000 $175,000 $8,994 3.38%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $345,000 $345,000 $3,677 3.50%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $315,000 $315,000 $2,838 3.25%
BAKERSFIELD, CA (FHA|USDA|VA) 3 $265,000 $88,333 $3,048 3.54%
Oak Harbor, WA (FHA|USDA|VA) 1 $255,000 $255,000 $3,172 2.88%
FRESNO, CA (FHA|USDA|VA) 1 $255,000 $255,000 $6,209 3.13%
Sonora, CA (FHA|USDA|VA) 1 $225,000 $225,000 $3,856 3.25%
Baraboo, WI (FHA|USDA|VA) 1 $225,000 $225,000 $4,504 3.25%
COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $175,000 $175,000 $2,913 2.75%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 1 $145,000 $145,000 $3,447 3.13%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $105,000 $105,000 $3,123 3.63%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 1 $45,000 $45,000 $0 3.88%

Premier America's top markets include Los Angeles, Oxnard, San Francisco, San Diego, and Riverside among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 757 $731,155,000 $965,859 $18,092 3.46%

For the 2021 period, Premier America's most frequently originated loan type of loans were Conventional, with 757 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 209 $395,005,000 $1,889,976 $30,597 3.29%
Home Improvement 173 $29,045,000 $167,890 $4,505 3.88%
Other 171 $137,045,000 $801,433 $16,806 3.57%
Cash Out Refi 116 $84,510,000 $728,534 $6,682 3.18%
Refi 88 $85,550,000 $972,159 $10,253 3.18%

For the 2021, Premier America's most frequently cited loan purpose of loans were Home Purchase, with 209 originations. The 2nd most popular reason of loans were Home Improvement, with 173 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 356 $524,020,000 $1,471,966 $20,040 3.20%
15 Year 354 $186,530,000 $526,921 $17,409 3.79%
20 Year 36 $14,890,000 $413,611 $4,344 2.92%
10 Year 8 $2,550,000 $318,750 $3,248 2.75%
Other 2 $2,020,000 $1,010,000 $0 3.44%
5 Year 1 $1,145,000 $1,145,000 $0 4.00%

For the 2021, Premier America's most frequently cited loan length of loans were 30 Year, with 356 originations. The 2nd most popular length of loans were 15 Year, with 354 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 218 $160,900,000 $738,073
$5k+ 207 $482,725,000 $2,332,005
$1k-2k 48 $19,070,000 $397,292
$2k-3k 23 $9,425,000 $409,783
$3k-4k 15 $7,295,000 $486,333

$20,040 of loans were Premier America's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 218 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 589 $571,365,000 $970,059
2.5-3% 144 $155,150,000 $1,077,431
5-6% 10 $760,000 $76,000
4-5% 6 $3,000,000 $500,000
6-7% 3 $175,000 $58,333
7-8% 3 $155,000 $51,667
<2.5% 2 $550,000 $275,000

During 2021, Premier America's average interest rate of loans were 3.20%, while their most frequently originated rate bucket of loans were 3-4%, with 589 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$1MM+ 197 $552,815,000 $2,806,168 $39,485 3.34%
$200k-400k 154 $42,690,000 $277,208 $3,857 3.28%
$100,000 or less 116 $5,980,000 $51,552 $15 4.09%
$100k-200k 116 $15,560,000 $134,138 $3,063 3.57%
$600k-1MM 96 $75,300,000 $784,375 $10,173 3.27%
$400k-600k 78 $38,810,000 $497,564 $5,260 3.24%

2021 saw Premier America place emphasis on $1MM+ loans with 197 originations, totaling $552,815,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$250k+ 235 $510,875,000 $2,173,936 $34,364 3.38%
$150k-250k 150 $78,700,000 $524,667 $7,951 3.48%
$100k-150k 136 $43,720,000 $321,471 $5,603 3.57%
$75k-100k 93 $27,465,000 $295,323 $5,864 3.51%
$50k-75k 82 $29,870,000 $364,268 $7,729 3.45%
$50k or less 51 $22,975,000 $450,490 $9,772 3.37%

Premier America lent most frequently to those with incomes in the $250k+ range, with 235 originations. The second most popular income band? $150k-250k, with 150 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 139 $149,775,000 $1,077,518 $21,699 3.37%
30-36% 120 $114,630,000 $955,250 $16,879 3.46%
<20% 83 $101,255,000 $1,219,940 $20,680 3.34%
50-60% 69 $40,845,000 $591,957 $51,329 3.81%
42% 31 $25,805,000 $832,419 $13,824 3.50%
43% 31 $31,815,000 $1,026,290 $14,634 3.40%
44% 30 $28,390,000 $946,333 $15,111 3.31%
47% 29 $24,485,000 $844,310 $12,407 3.65%
41% 28 $21,530,000 $768,929 $11,970 3.63%
40% 27 $21,815,000 $807,963 $11,306 3.57%
45% 24 $35,880,000 $1,495,000 $23,491 3.22%
37% 24 $22,060,000 $919,167 $13,575 3.31%
38% 22 $25,650,000 $1,165,909 $22,885 3.47%
46% 22 $10,890,000 $495,000 $10,868 3.51%
49% 20 $14,580,000 $729,000 $8,330 3.52%
36% 18 $16,370,000 $909,444 $16,617 3.43%
39% 15 $17,095,000 $1,139,667 $16,485 3.29%
48% 12 $9,280,000 $773,333 $11,637 3.42%
>60% 1 $665,000 $665,000 $14,688 3.50%

Premier America lent most frequently to those with DTI ratios of 20-30%, with 139 originations. The next most common DTI ratio? 30-36%, with 120 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 576 $645,930,000 $1,121,406 $20,464 3.45%
Asian 43 $39,115,000 $909,651 $18,151 3.55%
Not provided 110 $36,850,000 $335,000 $4,047 3.46%
Black 14 $6,570,000 $469,286 $15,959 3.77%
Filipino 6 $1,100,000 $183,333 $2,591 3.56%
Korean 1 $435,000 $435,000 $2,784 3.13%
Asian Indian 3 $415,000 $138,333 $3,725 3.54%
American Indian 2 $300,000 $150,000 $2,493 3.44%
Japanese 1 $285,000 $285,000 $6,198 2.88%
Native Hawaiian 1 $155,000 $155,000 $3,905 2.63%

Approval Rates

Total approvals of all applications
90.17%

Premier America has an average approval rate.

Pick Rate

Approvals leading to origination
78.15%

Premier America has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 757 $731,155,000 $965,859

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
757 $731,155,000 $965,859

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 120 $44,380,000 $369,833 $6,682 3.41%
40-60% 148 $186,460,000 $1,259,865 $17,377 3.21%
60-80% 234 $399,920,000 $1,709,060 $23,177 3.29%
80-100% 52 $67,290,000 $1,294,038 $19,951 3.22%
Over 100% 1 $1,215,000 $1,215,000 $27,809 3.88%
Under 20% 197 $27,005,000 $137,081 $4,308 3.93%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Premier Mortgage, LLC Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 33.3%
Premier Mortgage, LLC VA mortgage Applying for a mortgage or refinancing an existing mortgage 2 66.7%