1st Priority Mortgage Rates, Fees & Info

WILLIAMSVILLE, NY

LEI: 549300ZGZ9WQMJLEPH17

Tax ID: 16-1264933

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • 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

    1st Priority Mortgage is a smaller mortgage company specializing in Home Purchase loans. 1st Priority Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Buffalo, Rochester, Syracuse, Albany, and Binghamton among others. We have data for 25 markets. (Some data included below & more in-depth data is available with an active subscription.)

    1st Priority Mortgage has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. 1st Priority 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.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.60% 4/21/24
    30 Year Conventional Refi 6.36% 4/21/24
    30 Year Cash-out Refi 6.70% 4/21/24
    30 Year FHA Purchase 7.52% 4/21/24
    30 Year VA Purchase 6.39% 4/21/24
    30 Year USDA Purchase 6.83% 4/21/24
    15 Year Conventional Purchase 6.08% 4/21/24
    15 Year Conventional Refi 5.91% 4/21/24
    15 Year Cash-out Refi 5.91% 4/21/24
    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.

    1st Priority Mortgage Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from 1st Priority Mortgage. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    2,671

    Origination Dollar Volume (All Markets)

    $500,035,000
    Show all (11) awards

    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
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 1,113 $224,325,000 $201,550 $4,070 3.01%
    ROCHESTER, NY (FHA|USDA|VA) 593 $104,665,000 $176,501 $3,872 3.01%
    SYRACUSE, NY (FHA|USDA|VA) 234 $40,270,000 $172,094 $3,776 2.99%
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 119 $26,755,000 $224,832 $5,087 3.06%
    BINGHAMTON, NY (FHA|USDA|VA) 150 $21,140,000 $140,933 $3,998 2.96%
    ITHACA, NY (FHA|USDA|VA) 80 $19,650,000 $245,625 $4,243 2.91%
    Outside of Metro Areas 78 $11,980,000 $153,590 $4,318 3.04%
    Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) 41 $5,935,000 $144,756 $4,260 2.95%
    Olean, NY (FHA|USDA|VA) 31 $5,455,000 $175,968 $4,344 3.05%
    Gloversville, NY (FHA|USDA|VA) 26 $4,790,000 $184,231 $4,428 3.09%
    Cortland, NY (FHA|USDA|VA) 23 $4,415,000 $191,957 $4,727 2.99%
    Batavia, NY (FHA|USDA|VA) 28 $4,380,000 $156,429 $4,672 3.04%
    UTICA-ROME, NY (FHA|USDA|VA) 27 $4,275,000 $158,333 $4,215 3.00%
    Auburn, NY (FHA|USDA|VA) 21 $3,995,000 $190,238 $3,773 3.03%
    Corning, NY (FHA|USDA|VA) 28 $3,760,000 $134,286 $3,680 3.08%
    ELMIRA, NY (FHA|USDA|VA) 26 $3,640,000 $140,000 $3,658 2.93%
    Seneca Falls, NY (FHA|USDA|VA) 6 $2,060,000 $343,333 $4,452 3.20%
    GLENS FALLS, NY (FHA|USDA|VA) 9 $1,985,000 $220,556 $3,417 3.01%
    WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 9 $1,635,000 $181,667 $5,378 3.21%
    Amsterdam, NY (FHA|USDA|VA) 10 $1,380,000 $138,000 $4,742 3.19%
    Oneonta, NY (FHA|USDA|VA) 9 $1,305,000 $145,000 $4,587 3.07%
    Malone, NY (FHA|USDA|VA) 2 $740,000 $370,000 $4,980 3.31%
    Ogdensburg-Massena, NY (FHA|USDA|VA) 5 $575,000 $115,000 $4,387 3.03%
    Hudson, NY (FHA|USDA|VA) 2 $560,000 $280,000 $4,074 2.88%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $365,000 $365,000 $4,870 2.75%
    1st Priority Mortgage's top markets include Buffalo, Rochester, Syracuse, Albany, and Binghamton among others.

    Their top states include:
  • New York (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against 1ST PRIORITY MORTGAGE based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Watertown Savings Bank
    Similarity Rank: 8
    Gouverneur Savings and Loan Association
    Similarity Rank: 33
    Pittsford Federal Credit Union
    Similarity Rank: 52
    BUFFALO METROPOLITAN FEDERAL CREDIT UNION
    Similarity Rank: 55
    SECNY Federal Credit Union
    Similarity Rank: 57
    FIRST NEW YORK
    Similarity Rank: 63
    FIRST HERITAGE FEDERAL CREDIT UNION
    Similarity Rank: 117
    CFCU Community Credit Union
    Similarity Rank: 117
    Bank of Richmondville
    Similarity Rank: 141
    HUDSON RIVER COMMUNITY
    Similarity Rank: 162

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,178 $413,190,000 $189,711 $3,610 2.98%
    FHA 370 $61,410,000 $165,973 $6,406 3.14%
    VA 94 $21,480,000 $228,511 $5,406 3.03%
    USDA 29 $3,955,000 $136,379 $4,956 3.07%

    For 2021, 1st Priority Mortgage's most frequently originated type of loan was Conventional, with 2,178 originations. Their 2nd most popular type was FHA, with 370 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2,270 $425,360,000 $187,383 $4,196 3.04%
    Refi 234 $43,150,000 $184,402 $3,161 2.71%
    Cash Out Refi 167 $31,525,000 $188,772 $3,711 3.03%

    For 2021, 1st Priority Mortgage's most frequently cited loan purpose was Home Purchase, with 2,270 originations. The 2nd most popular reason was Refi, with 234 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,395 $452,105,000 $188,770 $4,156 3.07%
    15 Year 217 $36,225,000 $166,935 $3,377 2.42%
    20 Year 44 $9,350,000 $212,500 $3,434 2.91%
    10 Year 8 $1,080,000 $135,000 $3,427 2.42%
    Other 7 $1,275,000 $182,143 $2,958 2.91%

    For 2021, 1st Priority Mortgage's most frequently cited loan duration was 30 Year, with 2,395 originations. The 2nd most popular length was 15 Year, with 217 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 2,068 $393,860,000 $190,455
    $<1k 292 $40,500,000 $138,699
    $2k-3k 220 $42,360,000 $192,545
    $3k-4k 58 $12,840,000 $221,379
    $5k+ 17 $5,365,000 $315,588
    $4k-5k 16 $5,110,000 $319,375

    1st Priority Mortgage's average total fees were $4,156, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 2,068 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 1,431 $269,185,000 $188,110
    3-4% 1,031 $195,855,000 $189,966
    <2.5% 186 $31,510,000 $169,409
    4-5% 23 $3,485,000 $151,522

    During 2021, 1st Priority Mortgage's average interest rate for loans was 3.07%, while their most frequently originated rate bucket for loans was 2.5-3%, with 1,431 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 1,500 $222,260,000 $148,173 $3,891 3.01%
    $200k-400k 826 $220,290,000 $266,695 $4,492 3.01%
    $100,000 or less 272 $21,710,000 $79,816 $3,472 2.99%
    $400k-600k 65 $29,505,000 $453,923 $5,083 2.96%
    $600k-1MM 7 $5,065,000 $723,571 $7,763 2.90%
    $1MM+ 1 $1,205,000 $1,205,000 $9,969 2.77%

    2021 saw 1st Priority Mortgage place emphasis on $100k-200k loans with 1,500 originations, totaling $222,260,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 747 $123,475,000 $165,295 $4,053 3.02%
    $50k or less 660 $84,040,000 $127,333 $3,900 2.99%
    $75k-100k 480 $95,230,000 $198,396 $4,162 3.04%
    $100k-150k 478 $108,130,000 $226,213 $4,180 3.01%
    $150k-250k 247 $68,405,000 $276,943 $4,115 2.97%
    $250k+ 52 $19,550,000 $375,962 $4,776 3.00%

    1st Priority Mortgage lent most frequently to those with incomes in the $50k-75k range, with 747 originations. The second most popular income band? $50k or less, with 660 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 576 $112,580,000 $195,451 $3,835 2.97%
    30-36% 540 $98,720,000 $182,815 $3,908 3.00%
    <20% 175 $31,995,000 $182,829 $3,511 2.90%
    44% 141 $26,185,000 $185,709 $4,159 3.03%
    41% 125 $23,365,000 $186,920 $4,404 3.02%
    50-60% 119 $21,195,000 $178,109 $5,895 3.13%
    40% 114 $20,150,000 $176,754 $3,817 3.00%
    38% 106 $20,560,000 $193,962 $4,054 3.00%
    39% 105 $17,695,000 $168,524 $3,952 3.03%
    37% 103 $19,615,000 $190,437 $4,032 3.09%
    42% 89 $16,615,000 $186,685 $3,953 3.07%
    43% 86 $14,910,000 $173,372 $3,886 2.99%
    45% 85 $16,775,000 $197,353 $4,112 3.07%
    36% 82 $15,320,000 $186,829 $3,701 2.97%
    46% 61 $11,745,000 $192,541 $4,519 2.99%
    48% 59 $12,865,000 $218,051 $5,105 3.07%
    47% 54 $9,090,000 $168,333 $4,569 3.08%
    49% 51 $10,655,000 $208,922 $5,017 3.10%

    1st Priority Mortgage lent most frequently to those with DTI ratios of 20-30%, with 576 originations. The next most common DTI ratio? 30-36%, with 540 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,249 $422,755,000 $187,975 $4,067 3.01%
    Not provided 200 $35,480,000 $177,400 $4,002 3.00%
    Black 108 $19,010,000 $176,019 $4,373 3.07%
    Asian 92 $18,320,000 $199,130 $4,102 3.02%
    Other Asian 10 $1,370,000 $137,000 $3,560 2.89%
    American Indian 5 $1,195,000 $239,000 $4,620 3.28%
    Asian Indian 3 $1,025,000 $341,667 $3,923 2.88%
    1 $275,000 $275,000 $8,273 3.13%
    Filipino 1 $245,000 $245,000 $3,363 3.25%
    Japanese 1 $185,000 $185,000 $3,378 3.13%
    Chinese 1 $175,000 $175,000 $3,582 2.38%

    Approval Rates

    Total approvals of all applications
    95.13%

    1st Priority Mortgage has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    93.26%

    1st Priority Mortgage has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,671 $500,035,000 $187,209

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,671 $500,035,000 $187,209

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 33 $3,745,000 $113,485 $3,210 2.66%
    40-60% 131 $20,015,000 $152,786 $3,332 2.72%
    60-80% 725 $136,815,000 $188,710 $3,609 3.00%
    80-100% 1,760 $334,170,000 $189,869 $4,275 3.04%
    Over 100% 21 $5,235,000 $249,286 $9,475 3.09%
    Under 20% 1 $55,000 $55,000 $2,477 3.25%