Priority Home Lending Mortgage Rates, Fees & Info
WILMINGTON, DELEI: 549300XHPPLC0TBRV021
Tax ID: 46-1836968
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Mortgage Data
Review & Overview
Priority Home Lending is a smaller mortgage company specializing in Home Purchase loans. Priority Home Lending has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Seattle, Spokane, Portland, Bremerton, and Shelton among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)Priority Home Lending has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Priority Home Lending is typically an average 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 | 6.68% | 12/3/24 |
| 30 Year Conventional Refi | 6.47% | 12/3/24 |
| 30 Year Cash-out Refi | 6.76% | 12/3/24 |
| 30 Year FHA Purchase | 7.18% | 12/3/24 |
| 30 Year VA Purchase | 6.29% | 12/3/24 |
| 15 Year Conventional Purchase | 6.16% | 12/3/24 |
| 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. | ||
Priority Home Lending Mortgage Calculator
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
548Origination Dollar Volume (All Markets)
$182,860,000Awards
PRIORITY HOME LENDING - 2019
PRIORITY HOME LENDING is a 2019 , due to their low .
For 2019, 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 |
|---|---|---|---|---|---|
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 269 | $108,405,000 | $402,993 | $7,520 | 4.03% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 122 | $28,410,000 | $232,869 | $6,133 | 3.91% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 76 | $25,050,000 | $329,605 | $6,689 | 4.17% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 34 | $9,980,000 | $293,529 | $6,323 | 4.35% |
| Outside of Metro Areas | 9 | $2,465,000 | $273,889 | $5,639 | 4.31% |
| Outside of Metro Areas | 8 | $1,570,000 | $196,250 | $5,737 | 3.66% |
| Shelton, WA (FHA|USDA|VA) | 4 | $1,150,000 | $287,500 | $8,350 | 4.22% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 6 | $1,080,000 | $180,000 | $6,656 | 3.71% |
| SALEM, OR (FHA|USDA|VA) | 5 | $1,055,000 | $211,000 | $4,941 | 4.75% |
| BEND, OR (FHA|USDA|VA) | 3 | $1,015,000 | $338,333 | $9,072 | 4.04% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $8,410 | 4.56% |
| WENATCHEE, WA (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $7,961 | 3.50% |
| Aberdeen, WA (FHA|USDA|VA) | 3 | $515,000 | $171,667 | $4,391 | 4.29% |
| Centralia, WA (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $4,788 | 2.75% |
| Oak Harbor, WA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $5,046 | 6.00% |
| BELLINGHAM, WA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $6,760 | 3.88% |
| Port Angeles, WA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 4.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against PRIORITY HOME LENDING based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 187
Similarity Rank: 414
Similarity Rank: 418
Similarity Rank: 549
Similarity Rank: 657
Similarity Rank: 851
Similarity Rank: 918
Similarity Rank: 948
Similarity Rank: 1090
Similarity Rank: 1170
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 459 | $152,665,000 | $332,603 | $5,938 | 4.02% |
| FHA | 89 | $30,195,000 | $339,270 | $11,806 | 4.18% |
For 2019, Priority Home Lending's most frequently originated type of loan was Conventional, with 459 originations. Their 2nd most popular type was FHA, with 89 originations.
Loan Reason
For 2019, Priority Home Lending's most frequently cited loan purpose was Home Purchase, with 434 originations. The 2nd most popular reason was Refi, with 76 originations.
Loan Duration/Length
For 2019, Priority Home Lending's most frequently cited loan duration was 30 Year, with 526 originations. The 2nd most popular length was 15 Year, with 15 originations.
Origination Fees/Closing Costs
Priority Home Lending's average total fees were $7,012, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 205 originations.
Interest Rates
During 2019, Priority Home Lending's average interest rate for loans was 4.06%, while their most frequently originated rate bucket for loans was 3-4%, with 281 originations.
Loan Sizing
2019 saw Priority Home Lending place emphasis on $200k-400k loans with 291 originations, totaling $87,385,000 in origination value.
Applicant Income
Priority Home Lending lent most frequently to those with incomes in the $75k-100k range, with 144 originations. The second most popular income band? $100k-150k, with 130 originations.
Applicant Debt to Income Ratio
Priority Home Lending lent most frequently to those with DTI ratios of 30-36%, with 114 originations. The next most common DTI ratio? 20-30%, with 77 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.75%
Priority Home Lending has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination81.20%
Priority Home Lending has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 548 | $182,860,000 | $333,686 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 11 | $2,825,000 | $256,818 |
| Single Family (1-4 Units):Site-Built | 537 | $180,035,000 | $335,261 |