Is Private Mortgage Advisors, LLC An Expensive Mortgage Lender?

We compare mortgage interest rate and loan related closing costs at Private Mortgage Advisors, LLC with other lenders for mortgages with similar borrower characteristics:

Interest Rate: higher than average (+0.12%)
Loan Related Closing Costs: similar to average (+$183)
Assessment: this lender tends to be a expensive lender.

This scoreboard is based on data reported to FFIEC. In the data, Private Mortgage Advisors, LLC originated 232 mortgages, a national market share of 0.0%. It was primarily active in CA, with a 0.0% market share.

On average, Private Mortgage Advisors, LLC’s interest rates were higher than those of comparable mortgages at other lenders (+0.12%).1The comparable mortgages control for Private Mortgage Advisors, LLC’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages. Its average total loan related closing cost was $5789, which was similar to those of comparable mortgages at $5606, with a difference of +$183. Overall, we estimate that Private Mortgage Advisors, LLC tends to be an expensive lender, with a cost-adjusted-rate difference of +0.13% compared to comparable mortgages at other lenders.2Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate. Therefore, we recommend comparing your rate and fees with at least a few other lenders before signing with Private Mortgage Advisors, LLC.

Private Mortgage Advisors, LLC originated Conforming mortgages for new home purchases. We breakdown its interest rate and total loan related closing cost on by each of the mortgage types it originated below:

Home Purchase Mortgages from Private Mortgage Advisors, LLC compared to other lenders

Conforming
Interest Rate Difference +0.12%
Loan related Closing Cost Difference +$183
Cost Adjusted Rate Difference +0.13%

Based on the table above, Private Mortgage Advisors, LLC is more expensive than other lenders for Conforming purchase mortgages.

Other information about Private Mortgage Advisors, LLC:

Regulator: United States Department of Housing and Urban Development (HUD) 
Registered city and state: Danville, CA, 94526
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Footnotes   [ + ]

1. The comparable mortgages control for Private Mortgage Advisors, LLC’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages.
2. Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate.