PrimeLending Mortgage Review for 2024

PrimeLending has a record of top-notch customer service for home buyers and refinancing homeowners. Learn if this lender is best for you.

Lending flexibility5.0
Customer service4.8
Ease of application3.0
Online experience4.0
Our Score
Minimum down payment3%
Minimum credit score580
Loan Products Offered

Conventional mortgages
FHA, VA, and USDA loans
New construction loans
Renovation loans

Best Features

  • Wide range of loan options for home purchases and refinances
  • Digital tools to simplify the loan process
  • Some borrowers might be eligible for closing costs assistance


  • No home equity loans or home equity lines of credit (HELOCs)
  • Website doesn’t show current mortgage rates


The Mortgage Reports may be compensated by some of the mortgage lenders we review. However, this does not affect our review process or the ratings lenders receive. All reviews are created independently by our editorial team. We review products and services from partner lenders as well as lenders we do not work with.

Since 1986, PrimeLending has helped many families realize their dreams of homeownership. The lender offers a wide range of loan solutions for buying, renovating, refinancing, or building a new home.

The lender’s knowledgeable loan officers and loan advisors can help you find the right mortgage for your situation. Options include conventional, government, jumbo, and low-down-payment loans.

PrimeLending also aims to create a streamlined mortgage process and a convenient online application that allows borrowers to complete each step of their home loan digitally.

PrimeLending mortgage rates

In 2021 (the most recent data available), PrimeLending mortgage rates and lender fees were comparable to other top lenders. Its refinance rates were generally competitive, too. But remember that mortgage interest rates and closing costs vary a lot by customer. So you’ll need to get custom quotes to figure out which lender is cheapest for you.

Average 30-year mortgage rates at major lenders

PrimeLendingRocket MortgageWells FargoFreedom Mortgage
Avg 30-Yr Interest Rate, 202113.22%3.00%3.14%2.66%
Median Total Loan Costs, 20211$4,756$4,670$3,600$3,880
Median Origination Fee, 20211$1,428$2,430$1,330$0

Average rate and fee data were sourced from public rate and fee records required by the Home Mortgage Disclosure Act (HMDA).

Regardless of the type of mortgage loan you need, a low rate increases your home buying power and helps lower your monthly payment. Plus, you’re able to save money over the life of the loan. That’s why it’s important to get rate quotes from multiple lenders to compare fees, closing costs, and loan offerings.

Find your lowest mortgage rate. Start here

PrimeLending review for 2024

Headquartered in Dallas, Texas, PrimeLending is a PlainsCapital company that offers a diverse portfolio of mortgage products.

PrimeLending is unique because its loan experts can tailor their products to each applicant. While some banks and mortgage companies have a limited mortgage selection, according to PrimeLending’s website, it offers 400 different types of home loans. These include conventional loans and government-backed loans as well as specialty mortgage programs for home renovations and more.

If you’re cash-strapped and need help with closing costs, you might qualify for the lender’s NeighborhoodEdge closing costs assistance program. This gives eligible borrowers up to $2,000 in closing cost assistance.

Another feature that separates PrimeLending is its “float down” interest rate option. With this option, if average mortgage rates decrease within 21 days of your closing date, you’re allowed a one-time “float down” to reduce your rate.

Working with PrimeLending

PrimeLending’s digital tools can help simplify the mortgage process. To start, you can apply for a mortgage preapproval through the lender’s website before beginning your home search. This step isn’t required, but it’s recommended to know what you can afford before meeting with a Realtor.

To get preapproved for a mortgage, you’ll complete a home loan application and submit supporting documentation. You can upload this information from your computer or mobile device. Documents you’ll need include:

  • Tax returns and W2s from the previous two years
  • Recent paycheck stubs
  • Bank account and investment account statements
  • Information about any other income sources

Once submitted, the lender reviews your information and issues a conditional approval for your qualified loan amount. This gives you the green light to start searching for a home in your price range.

After finding a home, submit the purchase agreement to your lender. This includes information about the property, such as the sale price and the address. The lender will prepare a Loan Estimate which provides details about the mortgage, including loan amount, type of loan, interest rate, monthly payments, and cash needed to close.

Next, your loan goes through the underwriting process. The lender orders a property appraisal, conducts a title search, and completes other property inspections. At some point during this stage, your lender will schedule your closing date. A few days before closing you’ll receive your Closing Disclosure statement with your actual loan terms.

PrimeLending offers an eClosing option. Your loan officer or loan advisor will send your closing documents via email for electronic signing.

PrimeLending mortgage customer reviews

PrimeLending earns 4 out of 5 stars from customer reviews on both Zillow and LendingTree. But the lender is not large enough to have a customer satisfaction rating in J.D. Power’s yearly mortgage lender survey.

However, the company didn’t have any customer complaints filed against it with the Consumer Financial Protection Bureau (CFPB) in 2021. This suggests customers find few serious issues with the company.

Customer service reviews at major lenders

CFPB Complaints, 20214Complaints Per 1,000 Mortgages, 20215J.D. Power Satisfaction Score, 20216
PrimeLending00Not Rated
Rocket Mortgage3760.24876/1,000
Wells Fargo4880.58832/1,000
Freedom Mortgage2620.35829/1,000

Some customer reviews described PrimeLending as “amazing” and “stress-free,” noting that its interest rates and closing costs were reasonable and comparable with other lenders. Others, though, had a less than positive experience, with some complaints directed at the lender’s lack of rate transparency.

Ultimately, the experience will be a little different for everyone. If you like the loan options PrimeLending has to offer, it’s worth checking out the company’s interest rates and customer service for yourself.

Mortgage loan options at PrimeLending

Are you thinking about buying a new home or refinancing a mortgage loan with PrimeLending? According to a lender representative, here’s what you can expect with its different mortgage solutions:

  • Conventional loan: A loan conforming to guidelines set by Freddie Mac and Fannie Mae. First-time home buyers can qualify with as little as 3% down payment and 620 minimum credit score. You can usually stop paying private mortgage insurance (PMI) after a few years
  • Jumbo loans: Higher loan amounts than conforming mortgages, generally for mortgages over $
  • FHA loans: You can put down as little as 3.5% of the home purchase price. But you’ll have to pay mortgage insurance premiums (MIP) each month until you sell or refinance. Credit score minimum as low as 580. This is a popular loan type for first-time home buyers
  • VA loan: Ideal for veterans, active-duty service members, and others who are eligible. Zero down payment, easier credit, competitive rates, and no mortgage insurance. Although VA loans don’t have a minimum credit requirement, you’ll need a minimum score of 620 with PrimeLending. The lender also allows VA borrowers to finance the cost of a renovation or fixer-upper
  • USDA loan: These loans are available if you’re buying a property in an eligible rural area. These no-money-down loans are insured by the U.S. Department of Agriculture and require a credit score of 640 or higher
  • New construction loans: Ideal loan option for those building a new home
  • Fixed-rate mortgages (FRMs): Fixed-rate loans allow you to secure a mortgage rate for the life of the loan, which can last 30 years or a shorter 15-year loan term. This loan type is ideal for those who want regular monthly mortgage payments
  • Adjustable-rate mortgages (ARMs): Adjustable-rate loans let you fix your rate for the first several years of your loan. After that, your rate will float with the market

In addition to these mainstream mortgage products, PrimeLending offers a variety of specialty loans. The lender says it has over 400 options for borrowers.

Specialty loans include low-down-payment options to help borrowers purchase sooner. Indeed, PrimeLending’s website features multiple down payment assistance loan programs to help first-time home buyers achieve their homeownership goals. The company also has a generous selection of conventional, VA, and FHA renovation loans. These are useful for things like buying a fixer-upper, renovating a current home, or financing a swimming pool.

Refinancing with PrimeLending

In addition to home purchase loans, PrimeLending also offers refinancing. Homeowners can choose between refinance loans that will lower their monthly payments, pay off the home sooner, or tap home equity.

  • Rate-and-term refinance: Exchange your original mortgage with a new one that offers more favorable loan terms or a lower interest rate
  • Cash-out refinance: Access your home equity by replacing your current mortgage with a new, larger loan amount, and then receiving the difference as a lump sum of cash.

While PrimeLending’s programs can be ideal for refinancing an existing mortgage, the lender doesn’t offer home equity loans or home equity lines of credit (HELOCs).

Where can I get a mortgage with PrimeLending?

NMLS #13649

PrimeLending is licensed to originate loans in all 50 states and the District of Columbia. However, the lender only has physical branches in 43 states. These include:

  • AK, AL, AR, AZ, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, KS, KY, MA, MD, MI, MN, MO, MS, MT, NC, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, SC, TN, TX, UT, VA, VT, WA, WI, and WV

Borrowers outside these states — or far from a branch within their state — can start a loan application online or by contacting a PrimeLending loan officer over the phone. Find a PrimeLending branch near you using the company’s locator tool.

Is PrimeLending the best mortgage lender for you?

If you’re comfortable applying for a mortgage online and e-signing your closing documents, PrimeLending might be the right fit — especially if you’re looking for a specialty mortgage.

This lender not only offers low down payment options but also closing cost assistance for eligible buyers. PrimeLending might also be a top pick if you’re looking for a construction loan or a renovation loan.

Unfortunately, the lender doesn’t offer home equity solutions. So if you’re looking to pull cash from your equity, your only option would be a cash-out refinance.


The Mortgage Reports considers multiple factors when reviewing lenders. These factors include credit and down payment requirements, loan types offered, customer service indicators, and availability of online tools. We then use these factors to rank lenders in four categories:

  • Lending flexibility: Includes the number of loan types offered, special programs offered, minimum down payment requirements, and minimum credit score requirements
  • Customer service: Includes CFPB complaints per 1,000 loans and average rating from other top rating services
  • Ease of application: Includes the availability of an online pre-approval or pre-qualification process
  • Online experience: Includes the robustness of the lender’s online offerings, including online chat availability, phone number availability, and learning center/help center availability
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  1. Average mortgage rates and fees sourced from self-reported data mortgage lenders are required to file under the Home Mortgage Disclosure Act. Rates and fees shown reflect the previous year’s data and may not align with today’s mortgage rates
  2. Monthly principal and interest payments calculated using mortgage calculator. Payments shown are based on a $200,000 loan amount and assume a “very good” credit score. Property taxes and homeowners insurance are not included. Your own monthly payment will vary
  3. Number of mortgage originations for the previous year sourced from self-reported data mortgage lenders are required to file under the Home Mortgage Disclosure Act
  4. CFPB Complaints reflect the number of mortgage origination or closing-related complaints filed with the Consumer Financial Protection Bureau for the previous year
  5. Complaints per 1000 mortgages reflect the number of official complaints filed against a lender with the CFPB for the previous year, compared to the lender’s total number of mortgage originations for the previous year
  6. JD Power Rating reflects the company’s customer satisfaction score according to JD Power’s most recent Primary Mortgage Origination Satisfaction Study. Survey respondents score their lenders in four areas: application/approval process, communication, loan closing, and loan offerings