Prosperity Home Mortgage LLC Interest Rate and Cost Review

Is Prosperity Home Mortgage LLC a cheap or expensive mortgage lender? We compare the interest rates and closing costs charged by Prosperity Home Mortgage LLC with other lenders for comparable mortgages. Nationally, here is what we find:

Interest Ratesimilar to average (-0.07%)
Loan Related Closing Costssimilar to average (-$86)
National Rate and Closing Cost Rating(4.0)
Websitehttps://www.phmloans.com

On average, Prosperity Home Mortgage LLC’s interest rates were similar to those of other lenders (-0.07%) for a comparable set of borrowers. Its average total loan related closing cost was similar to those of other lenders, with a difference of -$86. Overall, combining interest rates and closing costs we estimate that Prosperity Home Mortgage LLC tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 4.0 out of 5.0 stars.

Prosperity Home Mortgage LLC’s Rates by Area

Mortgage lenders often set different rates in different geographical markets. In particular, among the markets we track Prosperity Home Mortgage LLC was most active in:

  1. Washington, DC
  2. Minneapolis, MN
  3. Atlanta, GA
  4. Raleigh, NC
  5. Richmond, VA

Furthermore, Prosperity Home Mortgage LLC is our top ranked mortgage lender in terms of interest rate and closing costs in:

  1. Virginia Beach, VA, for Conforming mortgages
  2. Roanoke, VA, overall
  3. Elk River, MN, for Conforming mortgages
  4. Newnan, GA, for Jumbo mortgages
  5. Lynchburg, VA, for Jumbo mortgages
  6. Chincoteague, VA, overall
  7. Ellijay, GA, overall

You can click through to check out Prosperity Home Mortgage LLC’s mortgage rate competitiveness by area. Or, for our data driven ranking of all the top mortgage lenders by area, click here.

Prosperity Home Mortgage LLC’s Rates by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Prosperity Home Mortgage LLC originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases and refinances. We breakdown its interest rate and total loan related closing cost difference relative to other lenders for comparable mortgages by type in the table below.

Purchase/Refinance:
New Purchase MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference-0.07%-0.05%+0.01%-0.01%-0.04%
Loan Related Closing Cost Difference-$32-$108+$169-$2-$307
Cost Adjusted Rate Difference-0.10%-0.06%+0.01%-0.01%-0.06%
Star Rating(4.0)(4.0)(3.5)(3.5)(4.0)
Refinance MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference-0.10%-0.00%+0.01%-0.00%-0.05%
Loan Related Closing Cost Difference-$247-$71+$23+$28-$452
Cost Adjusted Rate Difference-0.12%-0.01%+0.01%-0.00%-0.07%
Star Rating(4.0)(3.5)(3.5)(3.5)(4.0)

As a summary, Prosperity Home Mortgage LLC is cheap for Conforming, FHA and VA purchase mortgages. It is similar to other lenders for Jumbo and USDA purchase mortgages. For refinancing, Prosperity Home Mortgage LLC is cheap for Conforming and VA mortgage refinance. It is similar to other lenders for FHA, Jumbo and USDA mortgage refinance. Nevertheless, individual circumstances can matter, and we always recommend shopping among several lenders in your area before signing.

Other information about Prosperity Home Mortgage LLC:

Registered name: Prosperity Home Mortgage
Registered city and state: CHANTILLY, VA, 20151
Regulator: United States Department of Housing and Urban Development (HUD)

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Prosperity Home Mortgage 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 commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.