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PRESTON HOME LOANS INC
Independent Mortgage Company|Grand Blanc, MI|Regional
Loans Originated
1,039
Applications
1,432
Volume
$208 million
Offers loans directly to consumersSources loans from independent brokers
Overall Pricing
Mediocre
Overall Pull Through
Strong
Pricing and Pullthrough Overview
Average Rate Spread
+0.827%
The average of the lender's APR minus the market's average APR (APOR)
Average Net Fees
$2,849
Borrower paid Origination Charges - Lender Credits
Pullthrough Rate
72.6%
Percentage of applications that result in closed loans
Safe Rate's Summary
What They Do Well
- Strong pull through performance
- Particularly strong in Conventional and FHA and VA and USDA loans
Things to Think About
- Rates typically 83 basis points above market average
Report Card
PRESTON HOME LOANS INC performance at a glance
| Category | Rating | Grade | Details |
|---|---|---|---|
Pricing Rate competitiveness | Mediocre | Below peers | |
Pull Through Closing Strength | Strong | Highly Competitive | |
Products Loan Type Specialists | Specialization score by loan product | ||
Conventional | Strong | Highly Competitive | |
FHA | Exceptional | Market Leader | |
VA | Strong | Highly Competitive | |
USDA | Strong | Highly Competitive | |
Purpose Reason specialization | Specialization score by loan purpose | ||
Purchase | Strong | Highly Competitive | |
Refinance | Sound | Industry Standard | |
Places Geographic coverage | Sound | Regional · 11 metro areas · 5 states |
Rating Scale:
Exceptional (80-100)
Strong (60-79)
Sound (40-59)
Acceptable (20-39)
Mediocre (0-19)
Typical Borrower Profile
Average Loan Amount
$200,284
Average Borrower Income
$94,010
Average Property Value
$238,927
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | Sound | Strong | Mediocre | Strong | 565 | 54.4% | +0.683% | $2,775 |
FHA Loans | Sound | Exceptional | Mediocre | Strong | 407 | 39.2% | +1.154% | $2,907 |
VA Loans | Sound | Strong | Mediocre | Strong | 39 | 3.8% | +0.423% | $3,942 |
USDA Loans | Strong | Strong | N/A | Strong | 28 | 2.7% | +0.941% | $2,661 |
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | Sound | Strong | Mediocre | Strong | 981 | 94.4% | +0.844% | $2,956 |
Refinance | Acceptable | Sound | Mediocre | Sound | 58 | 5.6% | +0.621% | $1,568 |
Geographic Coverage
Metro Areas
10
States Served
5
We count Washington DC as a state
Avg Place Specialization
Sound
States with Loan Originations
FLINMISCTX
Top Metro Areas by Place Specialization Score
1
Flint, MI, MIMSA
Volume: 397Mix: 38.21%
Place Specialization
Exceptional
2
Saginaw, MI, MIMSA
Volume: 63Mix: 6.06%
Place Specialization
Strong
3
Warren, MIMSA
Volume: 222Mix: 21.37%
Place Specialization
Strong
4
Detroit, MIMSA
Volume: 49Mix: 4.72%
Place Specialization
Strong
5
Bay City, MI, MIMSA
Volume: 20Mix: 1.92%
Place Specialization
Sound
6
Grand Rapids, MIMSA
Volume: 27Mix: 2.60%
Place Specialization
Sound
7
Lansing, MIMSA
Volume: 18Mix: 1.73%
Place Specialization
Sound
8
Ann Arbor, MI, MIMSA
Volume: 10Mix: 0.96%
Place Specialization
Sound
9
Fort Worth, TXMSA
Volume: 10Mix: 0.96%
Place Specialization
Acceptable
10
Dallas, TXMSA
Volume: 10Mix: 0.96%
Place Specialization
Acceptable
Top States by Place Specialization Score
1
MIState
Volume: 989Mix: 95.19%
Place Specialization
Exceptional
2
TXState
Volume: 29Mix: 2.79%
Place Specialization
Sound
3
FLState
Volume: 18Mix: 1.73%
Place Specialization
Acceptable
How We Rank Lenders
Our rankings use geometric mean scoring across equally-weighted categories. This rewards lenders who perform consistently well across all metrics, not just excel in one area.
Our Point System (Max 30 Points)
10
Pricing
Rate and fee competitiveness (33%)
10
Pull Through
Reliability in closing loans (33%)
10
Product
Specialization in the loan type (33%)
💎
Champion(80%+ = 24-30 points)
⭐
Superstar(60-79% = 18-23 points)
Data Integrity & Updates
Data is updated quarterly based on the latest HMDA filings and proprietary SafeRate analysis. All metrics are calculated using standardized methodologies to ensure fair comparison across lenders.
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