PrimeLending Mortgage Review 2023: Available in All States But Rates Not Shared Online

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Best Online Application Process
PrimeLending Mortgage Review 2022
PrimeLending Mortgage Review 2022
Best Online Application Process
PrimeLending Mortgage Review 2022
  • Minimum Credit Score:
    Not provided
  • Minimum Down Payment:
    0% to 3.5% (most loans)
  • Can Apply Online:
  • Operates In:
    All 50 States

NextAdvisor’s Take

  • Easy online application process
  • Lends in 50 states
  • Wide range of mortgages available
  • Offers a float-down rate lock
  • Mortgage rates aren’t available online
  • Doesn’t offer home equity loans or lines of credit
  • Doesn’t publish qualification guidelines
The Bottom Line

PrimeLending is a solid choice if you’re looking for a mortgage lender. It operates in all 50 states, has an easy online application process, offers an extensive list of mortgage options for just about any borrower, and may provide closing cost and down payment assistance. And with its float-down rate-lock feature, you might be able to lower your mortgage rate before closing. Still, it’s best to compare offers among multiple lenders to make sure you’re getting the best deal.


As with all of our mortgage lender reviews, our analysis is not influenced by any partnerships or advertising relationships. For more information about our scoring methodology, click here.

PrimeLending Full Review

This Dallas-based mortgage lender is a subsidiary of PlainsCapital Bank that’s been open since 1986. The lender operates in all 50 states and has more than 1,250 loan officers located in branches nationwide.

We named it one of the best mortgage lenders of 2021 because of its strong customer service reputation, an extensive list of loan offerings, and easy online application. Here’s what to know about the lender before applying.

PrimeLending Mortgage: Loan Types and Products

PrimeLending says it has more than 400 mortgage products available for borrowers looking to purchase, build, renovate, or refinance their homes. Here’s what’s included in PrimeLending’s lineup right now: 

If you’re having trouble coming up with money for a down payment or closing costs, PrimeLending’s loan officers can connect you with assistance programs to help make homeownership more affordable. The lender even has its own program, NeighborhoodEdge, which provides up to $2,000 in closing cost assistance to qualifying low- and moderate-income borrowers. 

PrimeLending Mortgage Transparency

PrimeLending has an easy-to-navigate website with a breakdown of the mortgage products it offers and a straightforward online application process. If you need help figuring out the best loan for your situation or you have questions along the way, you can connect with one of PrimeLending’s loan officers within minutes.

The lender also includes a series of helpful mortgage guides, tools to help you figure out how much you can afford to borrow, and a blog that touches on more homeownership topics.

But you won’t find a list of mortgage rates advertised on the website or a list of fees you might pay with this lender.

PrimeLending Mortgage: Rates and Fees 

The PrimeLending website doesn’t advertise daily refinance and purchase rates on any of its loan products, but you can call a loan officer and get a rate quote within minutes. They offer the option of buying discount points to reduce your mortgage rate, which may help you save money if you’ll be in the home long enough to recoup costs.

The lender doesn’t publish the requirements to qualify for their loans, such as the minimum credit score, debt-to-income ratio, and down payment. You’ll need to speak with a PrimeLending representative for more information.

In terms of fees, the lender doesn’t charge prepayment penalties on any of its loans. You’ll need to submit an application for a complete breakdown of the costs you’ll pay, which may include:

  • Application fee: $1,100
  • Appraisal fee: $495
  • Credit report fee: $65
  • Title insurance: varies 
  • Recording fees: varies 

One of PrimeLending’s unique offerings is its float-down rate lock. You can lock in a mortgage rate for up to 180 days—then, you may qualify to unlock that rate if interest rates drop within 20 days of closing. There may be a fee associated with rate locks beyond 90 days and with the float-down feature.

Refinancing With PrimeLending Mortgage

When you refinance, you get a new mortgage to pay off your old loan. Homeowners usually do this when they qualify for a lower mortgage rate, thereby lowering their monthly payments. Refinancing also shrinks the monthly payment because the new mortgage is based on a lower principal balance. 

With PrimeLending, you can refinance most major types of mortgages with the lender, including:

Average refinance fees usually average 2% to 5% of the loan amount, but you’ll need to call the lender to get a specific closing cost estimate. 

If you’re looking to cut down on upfront expenses, you may be able to roll your refinance closing costs into your new home loan if you have enough equity. This is known as a “no cost refinance.” While it’s a convenient option, you may pay more over the long term since you wind up paying interest on the closing costs. 

PrimeLending Mortgage Compared to Other Mortgage Lenders

Minimum credit scoreNot disclosed620 for conventional loans; 660 for jumbo loans; 600 for FHA loans; 600 for VA loans620
Minimum down payment0% to 3.5% (some loans require more)0% to 5%3%
Where does the lender operate?50 states50 states43 states
Major loan typesConventional, jumbo, VA, FHA, USDA, various renovation loans, adjustable-rate, fixed-rate, refinance, cash-out refinanceConventional, jumbo, VA, FHA, USDA, various renovation loans, adjustable-rate, fixed-rate, refinance, cash-out refinance, reverse mortgages, home equity loans, home equity lines of creditConventional loans, jumbo loans

How to Shop Around to Get the Best Mortgage Rate

Once you choose a home and sign a purchase agreement, you can apply for a mortgage loan. But you don’t necessarily have to go with the lender that provided your preapproval letter. The best way to find a good deal is by submitting mortgage applications with multiple lenders and asking for a mortgage Loan Estimate. This document lists all the costs associated with taking out your mortgage, including your interest rate, annual percentage rate, lender fees, discount points, and closing costs. 

Just like any product, you can negotiate the terms of your mortgage loan. First use your Loan Estimates to compare offers. Then, send the best offer to another lender and ask them to beat the interest rate or closing costs. If you have strong credit, lenders may be willing to compete for your business. Getting a lower interest rate—even a small amount—may save you hundreds or thousands of dollars over the life of the loan.   

Home loan comparison calculator

Compare your payment options side-by-side to see which is right for you and your financial situation.

Find the mortgage that’s best for you by comparing the cost of multiple loans over time.


As with all of our mortgage lender reviews, our analysis is not influenced by any partnerships or advertising relationships. For more information about our scoring methodology, click here.