PrimeLending Mortgage Review

Our #1 pick for the best personal loans in 2020. PrimeLending seems to offer every type of mortgage under the sun, which can help borrowers who are undecided on the kind of loan they need. The biggest issue, however, is a lack of online rate estimates, which makes the shopping process more tedious for the customer.

J.D. Power Rating
Min. Credit
Min. Down Payment
3.8 / 5.0
SimpleScore Prime Lending 3.8
Perks 4
Credit Impact 3
Customer Satisfaction N/A
Product Variety 5
Fees 3

Looking for the best mortgage for you can be a challenge. A PrimeLending home mortgage can offer you competitive rates and a vast array of loan choices. The company was founded in 1986 and has 2,500 staff members across the country, making itself known for its wide variety of mortgage options. It offers everything from government-backed loans to new construction loans. Anyone who wants flexibility in the type of home loan could be the right candidate for its mortgages. Also, PrimeLending reviews are overall positive.

In this article

    PrimeLending Mortgage at a glance

    Lender30-Year Fixed APRAvailable ProductsKey Benefit
    PrimeLendingVaries by location
    • Conventional
    • ARM
    • Jumbo
    • FHA, VA, USDA
    • New construction
    • Refinances
    $2,000 in closing cost assistance available

    What we like about it

    PrimeLending claims to have over 400 mortgage products at its disposal, so you can find practically any home loan you want. Its mortgage rates are very competitive, as well. Additionally, the company’s loan officers live across the country, so finding a local loan originator is easy when you use the company directory.

    The online application process is easy and straightforward; it could work well for any customer who is comfortable with a digital application. Furthermore, PrimeLending ratings are high. The company has over 15,000 five-star reviews on Zillow and an average of 4.8 out of five on Google.

    Areas to consider

    The biggest hurdle with PrimeLending is that it doesn’t offer online mortgage rate shopping on its website. Many of its direct competitors provide hands-on calculators and tools that can give you an estimate in a few minutes using a soft credit check (or even without checking your credit). But to receive an estimated APR from PrimeLending, you have to either apply — and go through a hard credit pull — or call a local loan originator. This extra step can be a hassle for anyone who is casually browsing. And in our experience, it can be a bit tricky to get in touch with a representative. Also, because the process is mostly online, anyone who’s uncomfortable with digital applications may find the process challenging.

    [Read: How Does Credit Score Affect Mortgage Rates?]

    What you need to know

    PrimeLending mortgage rates depend on many factors, such as your credit score, your down payment and the type of loan you apply for. However, its estimated rates given to us over the phone were quite good, falling between 2.75% and 2.99% as of June 2020. This quote was for a 10% down payment for a customer with an excellent credit score in Maryland. Like a typical mortgage, you can find a loan term between 15 and 30 years with PrimeLending.

    PrimeLending also provides a useful breakdown of the application process. You can get prequalified for a mortgage through PrimeLending while you’re house shopping, which makes the process smoother once you do find your future home. When you’re prequalified, the lender already has a lot of your information and can approve you the same day. It also looks better on an offer to be prequalified with your lender.

    After you find a house you love, you’ll first need to apply for a PrimeLending mortgage using its online application or over the phone. You’ll need to provide documents like your bank statements and W-2s. Once you are approved, the house will be appraised and inspected. Soon after, you’ll enter the closing process to make your home purchase official.

    [Read: This Is the Best Time in 50 Years to Refinance a Mortgage]

    Fees and penalties

    Lenders typically charge fees for using its mortgage service. These costs cover expenses like the application, the cost to pull your credit report, the work and time involved in processing your application and flood certification. Additionally, you may be paying for property tax service and the appraisal when you shell out the lender fees. Other items that are commonly included are the underwriting fee that pays the underwriter — or the person who confirms all your financial details are accurate and assesses your risk — to underwrite your mortgage. On the other hand, you may pay an origination fee, which includes the underwriting fee and the rest of the expenses incurred in the underwriting process.

    For PrimeLending, you can expect to pay $1,400 in lender fees, as told to us by a customer representative on June 10, 2020. This doesn’t come as a percentage of your house value but instead is a flat fee.

    [Read: What Are Closing Costs and How Much Will You Pay?]

    Collateral and criteria

    PrimeLending offers government-backed mortgages and conventional mortgages, so if you have a poor credit score, you may still be able to get a home loan. The minimum credit score for a conventional mortgage through the company is 640, so if you have a lower score than that, you may need to look at its other offerings. You could try a Federal Housing Administration (FHA) loan that has a minimum credit score of 580 (and sometimes accepts lower than that).

    Compare top mortgage lenders

    We welcome your feedback on this article and would love to hear about your experience with the mortgages we recommend. Contact us at with comments or questions.



    We’ve created the SimpleScore to help you objectively compare products and services here at The Simple Dollar.

    Our editorial team:

    • Identifies five factors to compare across each brand
    • Determines the rating criteria for each factor
    • Calculate an average of those five factor scores to get one SimpleScore

    We break down each of these five factors and their rating criteria for our review of the best mortgage companies.

    Why do some brands have different SimpleScores on different pages?

    Some brands like Bank of America, Wells Fargo, and Chase have different SimpleScores because they offer more than one financial solution — like home loans, auto loans, personal loans and more.

    For instance, in our Bank of America Mortgage Review, we give the company a 3.8 out 5 based on our five rating factors for mortgages. In our Bank of America Auto Loans Review, we give the company a 4.4 out of 5 based on our rating factors for auto loans. By tailoring our SimpleScore to each financial solution, we’re able to give you a more accurate view of a brand’s services and how it compares to competitors’ services.


    Mortgage lending companies that provide more perks receive a higher score from us.

    Hard/Soft credit checks

    We know that credit checks affect your score –– that’s why we favor companies that offer soft credit checks or hard credit checks when you want to see your pre-approval rates.

    Customer satisfaction

    We use the J.D. Power 2019 Mortgage Origination Satisfaction Study℠ to find out how customers rate their experience with each company. (If a company is not included in J.D. Power’s study, we skip this rating factor and average the remaining factor scores.)

    Product variety

    Mortgage lenders that offer more products for their home loans are given higher scores.


    Fees can add up fast. Companies that don’t require as many fees for your home loan receive a higher score with us.

    Tiffany Verbeck

    Contributing Writer

    Tiffany Verbeck is a personal finance expert. She uses her storytelling skills gained from a master’s degree in writing to run a freelancing business focused on helping people make and manage their money. She has been published in The Financial Diet, Fast Capital 360, The Write Life, Matador Network and other publications

    Reviewed by

    • Courtney Mihocik
      Courtney Mihocik
      Loans Editor

      Courtney Mihocik is an editor at The Simple Dollar who specializes in personal loans, student loans, auto loans, and debt consolidation loans. She is a former writer and contributing editor to,, and elsewhere.