Primary Residential Mortgage review: rates, costs & calculator
A long-established retail lender (PRMI) with hundreds of local branches and a broad purchase-loan menu.
Primary Residential Mortgage rates: what borrowers actually paid
Primary Residential Mortgage prices each borrower individually, but federal loan-level records show what its borrowers actually got. On 2,170 FHA 30-year fixed purchase loans closed in 2025, the median rate was 6.625% and the median APR was 0.35 percentage points above the typical lender's, with $11,959 in loan costs.
| 2025 home purchases | Loans | Median rate | APR vs benchmark | Loan costs | With points |
|---|---|---|---|---|---|
| Conventional · Primary Residential Mortgage | 1,469 | 6.625% | +0.18 | $6,348 | 68% |
| Conventional · all lenders | 700,082 | 6.50% | +0.02 | $5,476 | 53% |
| FHA · Primary Residential Mortgage | 2,170 | 6.625% | +0.77 | $11,959 | 56% |
| FHA · all lenders | 516,729 | 6.25% | +0.42 | $11,291 | 59% |
| VA · Primary Residential Mortgage | 637 | 6.375% | −0.15 | $6,478 | 68% |
| VA · all lenders | 291,383 | 6.125% | −0.36 | $6,554 | 59% |
What the numbers say
- On FHA loans, Primary Residential Mortgage's median APR ran 0.35 percentage points above the typical lender's (+0.77 vs +0.42 percentage points against the benchmark) — roughly $72 a month on a $305,000 loan at today's 7.18% average rate.
- Other loan types: Conventional 0.16 percentage points above the market (1,469 loans); VA 0.22 percentage points above the market (637 loans).
- Borrowers paid a median $11,959 in loan costs — $668 more than the $11,291 typical across all lenders (FHA totals include upfront mortgage insurance).
How Primary Residential Mortgage compares on FHA loans
| Lender | Loans | Median rate | APR vs benchmark | Loan costs | Lender credits |
|---|---|---|---|---|---|
| Primary Residential Mortgage | 2,170 | 6.625% | +0.77 | $11,959 | 39% |
| United Wholesale Mortgage | 49,058 | 6.125% | +0.37 | $13,255 | 51% |
| DHI Mortgage | 31,598 | 4.50% | −1.40 | $9,217 | 3% |
| Rocket Mortgage | 21,677 | 6.25% | +0.38 | $11,293 | 5% |
| CrossCountry Mortgage | 18,447 | 6.50% | +0.71 | $12,630 | 44% |
| All lenders | 516,729 | 6.25% | +0.42 | $11,291 | 34% |
Source: 2025 HMDA loan-level records (FFIEC/CFPB), 30-year fixed home purchases compared like for like. APR vs benchmark = median APR minus the average prime offer rate the week the rate was set; loan costs are borrower-paid. How these figures are built.
Primary Residential Mortgage calculator
Estimate a Primary Residential Mortgage payment: enter the rate from your Loan Estimate, or start from today's 7.18% average 30-year fixed rate. For reference, Primary Residential Mortgage's 2025 FHA purchase loans closed at a median 6.625%.
Prefer a full-page version? Open the mortgage calculator.
Primary Residential Mortgage by the numbers
| Home loans originated (2025) | 9,570 |
|---|---|
| Total lending (2025) | $2.9B |
| Average loan size | $299,356 |
| Approval rate* | 92.6% |
| Volume rank (our roster) | #52 of 60 |
| Largest market | Maryland |
Source: federal HMDA data (2025), FFIEC/CFPB. *Approval rate = loans originated ÷ (originated + denied). It reflects a lender's channel and borrower mix — wholesale, online and refi-heavy lenders run lower because many applications are rate shops that never close — not how hard it is to work with. See approval odds by state.
What Primary Residential Mortgage actually lends
28.5% of Primary Residential Mortgage's 2025 loans were FHA loans, versus 13.2% nationally. Primary Residential Mortgage lists USDA loans, but they were under 2% of its 2025 originations — if you need one, ask how many the loan officer closes.
| Share of 2025 loans | Primary Residential Mortgage | U.S. |
|---|---|---|
| Conventional | 61.6% | 78% |
| FHA | 28.5% | 13.2% |
| VA | 8.2% | 8.2% |
| USDA | 1.7% | 0.6% |
| Home purchase | 87.7% | 52.5% |
| Rate-and-term refinance | 6.1% | 15.3% |
| Cash-out refinance | 6.2% | 14% |
Shares of originated loans by loan type and purpose, federal HMDA data (2025). They describe the lender's business mix, not the terms you would be offered.
Primary Residential Mortgage at a glance
Primary Residential Mortgage, Inc. (PRMI) is one of the country's longer-tenured independent lenders, founded in 1998 by Dave Zitting, Jeff Zitting and Steve Chapman and headquartered in Salt Lake City, Utah.
It closed a few hundred loans in its first year and has since grown into a nationwide originator with a couple hundred local branches and roughly two thousand employees.
Unlike the direct-to-consumer, app-first shops that dominate refinance headlines, PRMI is a nonbank built on a branch network and individual loan officers.
The model is deliberately decentralized. Most borrowers reach PRMI through a specific branch or advisor they find locally, and the loan officer stays the point of contact from pre-approval through closing.
Where Primary Residential Mortgage's approval rate sits
Primary Residential Mortgage's 2025 approval rate of 92.6% sits against the 76.6% national average. Read it as a signal of channel, not strictness — wholesale, online and refinance-heavy lenders run lower because so many applications are rate shops that never close.
That relationship-driven approach is reflected in where the lender does its volume: in 2025 its busiest states were Maryland (about 2,000 loans), New Mexico (roughly 1,500), and Rhode Island (about 1,050), followed by Florida and North Carolina — a footprint shaped more by strong local branches than by a single dominant metro.
In 2025 PRMI reported about 9,570 originated loans worth roughly $2.86 billion, with an average loan size near $299,000 and an approval rate around 92.6%.
The company leans into purchase and government lending, offering more than 300 loan programs and regularly partnering with state housing finance agencies — RIHousing named it a top participating lender for 2025.
PRMI does not publish rates online, so pricing requires contacting an advisor for a quote.
Who Primary Residential Mortgage is best for
PRMI suits purchase borrowers — especially first-time and government-loan buyers — who want a nearby branch and a single loan officer guiding them rather than an online portal.
It fits people who value FHA, VA, or USDA expertise, need renovation or one-time-close construction financing, or want to pair a low-down-payment loan with a state or proprietary down payment assistance program.
Loan programs at Primary Residential Mortgage
Its most notable programs and specialties:
- Conventional conforming and jumbo loans for primary homes, second homes, and investment properties
- Government-backed FHA, VA, and USDA loans, a core strength for first-time and lower-down-payment buyers
- PRMI Welcome Home DPA — up to 5% down payment and closing-cost assistance in repayable or forgivable forms, plus Chenoa Fund options
- One-time-close new construction loans, including an FHA OTC option paired with the proprietary Empower Construction DPA (3.5%)
- Renovation loans that combine purchase and repair costs into a single mortgage and payment
- "Fresh Start" financing aimed at borrowers with blemished or recovering credit
Typical industry minimum down payment by core loan type — Primary Residential Mortgage's own minimums or credit overlays may run higher:
| Loan program | Typical min. down |
|---|---|
| Conventional | 3% |
| FHA | 3.5% |
| VA | 0% |
| USDA | 0% |
Strengths
- Long operating history (since 1998) and a large nationwide branch network
- Deep purchase and government-loan menu, with strong FHA/VA/USDA and first-time-buyer focus
- Multiple down payment assistance paths, including proprietary and housing-finance-agency programs
- In-person, single-point-of-contact loan officer model for borrowers who prefer a local relationship
- Handles specialized needs like renovation and one-time-close construction under one loan
Considerations
- Rates and fees are not published online — you must contact an advisor for a quote
- Not licensed in New York, so borrowers there cannot use PRMI
- PRMI notes that some products and services may not be available in all states, so confirm a specific program with a local advisor.
Where Primary Residential Mortgage lends most
By federal HMDA records, Primary Residential Mortgage's largest 2025 markets were Maryland, New Mexico, Rhode Island, Florida and North Carolina. Explore local rates, home prices and down-payment assistance for each:
States where Primary Residential Mortgage is a top-15 lender
Ranked by home loans originated in 2025 (HMDA). Each state page compares Primary Residential Mortgage with the other leading lenders there, including FHA and VA leaders and what their borrowers paid.
The verdict
PRMI is a well-established retail lender for borrowers who want a local branch, a dedicated loan officer, and a broad purchase and government-loan menu backed by real down payment assistance options.
Its 2025 volume of roughly 9,570 loans and a high approval rate reflect a purchase-focused book. The main trade-offs are no online rate transparency and no New York lending — so comparison-shopping quotes is worthwhile.
How to compare Primary Residential Mortgage
Shopping a few lenders is the single most reliable way to save. Before you commit to Primary Residential Mortgage:
- Get three or more Loan Estimates in a two-week window — the bureaus treat it as one inquiry.
- Compare the APR, not just the headline rate — it folds in the fees.
- Weigh service and loan-type fit, not price alone.
- Verify licensing: search Primary Residential Mortgage on NMLS Consumer Access and match the NMLS ID to the one on your Loan Estimate. (Its LEI in federal HMDA data, 54930052M48FOD3CWA54, is not a license number.)
Benchmark whatever you're quoted against today's current rate averages.
Primary Residential Mortgage FAQ
Is Primary Residential Mortgage a good mortgage lender?
Primary Residential Mortgage is a licensed U.S. mortgage lender and one of the largest, roughly #52 of 60 in our roster by 2025 volume, best for local branch service.
On price, its 2025 FHA borrowers' median APR was 0.35 percentage points above the typical lender's, with $11,959 in loan costs against $11,291 market-wide.
Whether it's right for you comes down to the rate and fees it quotes — compare its Loan Estimate with two or three others.
What are Primary Residential Mortgage's rates today?
Primary Residential Mortgage sets rates daily by loan type, credit score, down payment and points, so the rate that counts is the one on your Loan Estimate.
For context, the average 30-year fixed rate was 7.18% in Freddie Mac's survey for the week of November 5, 2026; in 2025, Primary Residential Mortgage's FHA purchase loans closed at a median 6.625%, against 6.25% for all lenders.
How many mortgages does Primary Residential Mortgage originate?
In 2025, Primary Residential Mortgage originated about 9,570 home loans, roughly $2.9 billion in lending, per federal HMDA data — an average loan of about $299,356.
What loan types does Primary Residential Mortgage offer?
Primary Residential Mortgage offers Conventional, FHA, VA, USDA. Notable programs include conventional conforming and jumbo loans for primary homes, second homes, and investment properties; Government-backed FHA, VA, and USDA loans, a core strength for first-time and lower-down-payment buyers; PRMI Welcome Home DPA — up to 5% down payment and closing-cost assistance in repayable or forgivable forms, plus Chenoa Fund options.
How do I verify Primary Residential Mortgage is licensed?
Search the company's name on NMLS Consumer Access (nmlsconsumeraccess.org), the official registry of licensed mortgage companies and loan officers; the NMLS ID it shows is also printed on every Loan Estimate the lender issues. (The ID 54930052M48FOD3CWA54 used on this page is the company's LEI, which identifies it in federal HMDA data — not a license number.)
This review is editorial and independent — Primary Residential Mortgage did not pay for or approve it, and all figures are from public federal data. It is general information, not a recommendation or personalized advice. Confirm all terms directly with the lender.
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