Is Premier Mortgage Resources LLC An Expensive Mortgage Lender?

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

Interest Rate: higher than average (+0.11%)
Loan Related Closing Costs: higher than average (+$902)
Assessment: this lender tends to be a expensive lender.

This scoreboard is based on data reported to FFIEC. In the data, Premier Mortgage Resources LLC originated 2548 mortgages, a national market share of 0.0%. It was most active in ID (1.8% market share), WA (0.4% market share), and OR (0.4% market share).

On average, Premier Mortgage Resources LLC’s interest rates were higher than those of comparable mortgages at other lenders (+0.11%).1The comparable mortgages control for Premier Mortgage Resources 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 $6624, which was higher than those of comparable mortgages at $5722, with a difference of +$902. Overall, we estimate that Premier Mortgage Resources LLC tends to be an expensive lender, with a cost-adjusted-rate difference of +0.17% 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 Premier Mortgage Resources LLC.

Premier Mortgage Resources LLC originated Conforming, FHA, USDA and VA mortgages for new home purchases. It also originated Conforming and FHA mortgages for refinances. 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 Premier Mortgage Resources LLC compared to other lenders

Conforming FHA USDA VA
Interest Rate Difference +0.12% +0.08% +0.08% +0.15%
Loan related Closing Cost Difference +$825 +$976 +$545 +$1308
Cost Adjusted Rate Difference +0.17% +0.15% +0.14% +0.23%

Based on the table above, Premier Mortgage Resources LLC is more expensive than other lenders for Conforming, FHA, USDA and VA purchase mortgages.

Mortgage Refinancing from Premier Mortgage Resources LLC compared to other lenders

Conforming FHA
Interest Rate Difference +0.15% +0.03%
Loan Related Closing Cost Difference +$864 +$1133
Cost Adjusted Rate Difference +0.21% +0.10%

Based on the table above, Premier Mortgage Resources LLC is more expensive than other lenders for Conforming and FHA mortgage refinance.

Other information about Premier Mortgage Resources LLC:

Regulator: United States Department of Housing and Urban Development (HUD) 
Registered city and state: PORTLAND, OR, 97209

Footnotes   [ + ]

1. The comparable mortgages control for Premier Mortgage Resources 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.

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