Patriot Lending Services Mortgage Rates, Fees & Info
Carnegie, PALEI: 254900428YSAU4S4SW33
Tax ID: 25-1738324
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Mortgage Data
Review & Overview
Patriot Lending Services is a smaller mortgage company specializing in Home Purchase loans. Patriot Lending Services has a high proportion of conventional loans. They have a a high proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Tampa, Pittsburgh, Homosassa Springs, Cape Coral, and The Villages among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)Patriot Lending Services has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Patriot Lending Services is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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Originations
722Origination Dollar Volume (All Markets)
$105,920,000Awards
Patriot Lending Services - 2018
Patriot Lending Services is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 515 | $72,485,000 | $140,748 | $4,291 | 5.02% |
| PITTSBURGH, PA (FHA|USDA|VA) | 85 | $14,385,000 | $169,235 | $4,829 | 4.99% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 69 | $9,495,000 | $137,609 | $3,928 | 5.11% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 12 | $2,380,000 | $198,333 | $4,395 | 5.01% |
| THE VILLAGES, FL (FHA|USDA|VA) | 10 | $1,500,000 | $150,000 | $6,602 | 4.89% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 4 | $870,000 | $217,500 | $6,032 | 5.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 3 | $685,000 | $228,333 | $5,036 | 4.50% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 3 | $675,000 | $225,000 | $4,175 | 4.71% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 5 | $595,000 | $119,000 | $3,504 | 4.83% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $4,162 | 5.00% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $3,509 | 4.88% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $3,971 | 4.50% |
| OCALA, FL (FHA|USDA|VA) | 3 | $435,000 | $145,000 | $3,212 | 4.46% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $9,278 | 4.63% |
| Outside of Metro Areas | 2 | $180,000 | $90,000 | $3,198 | 5.50% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $4,135 | 4.75% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,208 | 5.50% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $4,610 | 3.75% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $1,643 | 0.00% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $5,212 | 5.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against Patriot Lending Services based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2018, Patriot Lending Services's most frequently originated type of loan was Conventional, with 383 originations. Their 2nd most popular type was FHA, with 255 originations.
Loan Reason
For 2018, Patriot Lending Services's most frequently cited loan purpose was Home Purchase, with 658 originations. The 2nd most popular reason was Cash Out Refi, with 44 originations.
Loan Duration/Length
For 2018, Patriot Lending Services's most frequently cited loan duration was 30 Year, with 691 originations. The 2nd most popular length was 15 Year, with 25 originations.
Origination Fees/Closing Costs
Patriot Lending Services's average total fees were $4,398, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 509 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 353 | $58,045,000 | $164,433 |
| 5-6% | 342 | $43,130,000 | $126,111 |
| 3-4% | 24 | $4,420,000 | $184,167 |
| 6-7% | 1 | $115,000 | $115,000 |
During 2018, Patriot Lending Services's average interest rate for loans was 5.04%, while their most frequently originated rate bucket for loans was 4-5%, with 353 originations.
Loan Sizing
2018 saw Patriot Lending Services place emphasis on $100k-200k loans with 388 originations, totaling $54,330,000 in origination value.
Applicant Income
Patriot Lending Services lent most frequently to those with incomes in the $50k or less range, with 316 originations. The second most popular income band? $50k-75k, with 194 originations.
Applicant Debt to Income Ratio
Patriot Lending Services lent most frequently to those with DTI ratios of 30-36%, with 110 originations. The next most common DTI ratio? 20-30%, with 83 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.33%
Patriot Lending Services has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination70.08%
Patriot Lending Services has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 722 | $105,920,000 | $146,704 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 123 | $11,455,000 | $93,130 |
| Single Family (1-4 Units):Site-Built | 599 | $94,465,000 | $157,705 |