Patriot Lending Services Mortgage Rates, Fees & Info

Carnegie, PA

LEI: 254900428YSAU4S4SW33

Tax ID: 25-1738324

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Patriot Lending Services is a smaller mortgage company specializing in Home Purchase and Refi loans. Patriot Lending Services has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Pittsburgh, Tampa, North Port, Homosassa Springs, and Philadelphia among others. We have data for 16 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 an above 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.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    389

    Origination Dollar Volume (All Markets)

    $82,925,000
    Show all (8) awards

    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
    PITTSBURGH, PA (FHA|USDA|VA) 190 $45,410,000 $239,000 $4,531 2.94%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 138 $25,870,000 $187,464 $3,854 3.40%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 19 $3,775,000 $198,684 $3,262 2.66%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 19 $3,015,000 $158,684 $3,922 3.86%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 4 $1,300,000 $325,000 $4,242 2.63%
    OCALA, FL (FHA|USDA|VA) 8 $1,210,000 $151,250 $3,681 4.09%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $520,000 $260,000 $3,726 3.94%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $455,000 $455,000 $5,850 3.13%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $375,000 $375,000 $4,122 2.75%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $265,000 $265,000 $3,679 2.88%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $185,000 $185,000 $3,438 2.25%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $175,000 $175,000 $2,691 3.88%
    Somerset, PA (FHA|USDA|VA) 1 $145,000 $145,000 $3,771 2.88%
    THE VILLAGES, FL (FHA|USDA|VA) 1 $145,000 $145,000 $2,643 3.00%
    Meadville, PA (FHA|USDA|VA) 1 $75,000 $75,000 $3,932 3.50%
    Outside of Metro Areas 1 $5,000 $5,000 $0 0.00%
    Patriot Lending Services's top markets include Pittsburgh, Tampa, North Port, Homosassa Springs, and Philadelphia among others.

    Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • 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.

    M. S. Flynn, Inc.
    Similarity Rank: 236
    TRI BORO
    Similarity Rank: 264
    WELCOME HOME FINANCE, L.P.
    Similarity Rank: 456
    METROPLEX MORTGAGE SERVICES, INC.
    Similarity Rank: 496
    First Federal Savings and Loan Association of Greene Co
    Similarity Rank: 623
    NEW FED MORTGAGE, CORP.
    Similarity Rank: 644
    ARMCO CREDIT UNION
    Similarity Rank: 645
    HANCOCK COUNTY SAVINGS BANK, FSB, INC.
    Similarity Rank: 670
    PRINCETON FINANCIAL LLC
    Similarity Rank: 754
    Standard Bank, PaSB
    Similarity Rank: 756

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 320 $71,650,000 $223,906 $3,790 3.03%
    FHA 49 $7,625,000 $155,612 $6,255 3.78%
    VA 16 $3,120,000 $195,000 $4,737 3.52%
    USDA 4 $530,000 $132,500 $4,503 3.91%

    For 2020, Patriot Lending Services's most frequently originated type of loan was Conventional, with 320 originations. Their 2nd most popular type was FHA, with 49 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 199 $38,415,000 $193,040 $4,414 3.35%
    Refi 172 $40,950,000 $238,081 $3,876 2.88%
    Cash Out Refi 17 $3,415,000 $200,882 $3,901 3.53%
    Home Improvement 1 $145,000 $145,000 $3,032 2.88%

    For 2020, Patriot Lending Services's most frequently cited loan purpose was Home Purchase, with 199 originations. The 2nd most popular reason was Refi, with 172 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 330 $69,300,000 $210,000 $4,206 3.22%
    15 Year 44 $10,120,000 $230,000 $3,807 2.65%
    20 Year 6 $1,260,000 $210,000 $4,488 3.35%
    10 Year 5 $1,215,000 $243,000 $3,985 2.53%
    Other 2 $300,000 $150,000 $3,635 2.75%
    30+ year 1 $665,000 $665,000 $0 3.63%
    5 Year 1 $65,000 $65,000 $0 5.00%

    For 2020, Patriot Lending Services's most frequently cited loan duration was 30 Year, with 330 originations. The 2nd most popular length was 15 Year, with 44 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 280 $55,930,000 $199,750
    $<1k 93 $23,315,000 $250,699
    $2k-3k 10 $1,860,000 $186,000
    $3k-4k 3 $665,000 $221,667
    $5k+ 3 $1,155,000 $385,000

    Patriot Lending Services's average total fees were $4,206, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 280 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 173 $39,995,000 $231,185
    3-4% 128 $25,720,000 $200,938
    <2.5% 48 $12,350,000 $257,292
    4-5% 37 $4,555,000 $123,108
    5-6% 3 $305,000 $101,667

    During 2020, Patriot Lending Services's average interest rate for loans was 3.22%, while their most frequently originated rate bucket for loans was 2.5-3%, with 173 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 164 $24,850,000 $151,524 $3,983 3.23%
    $200k-400k 135 $36,395,000 $269,593 $4,422 2.94%
    $100,000 or less 52 $3,920,000 $75,385 $3,300 3.67%
    $400k-600k 37 $17,095,000 $462,027 $5,047 2.85%
    $600k-1MM 1 $665,000 $665,000 $0 3.63%

    2020 saw Patriot Lending Services place emphasis on $100k-200k loans with 164 originations, totaling $24,850,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 92 $15,580,000 $169,348 $4,080 3.26%
    $50k or less 84 $11,070,000 $131,786 $4,020 3.47%
    $75k-100k 73 $15,495,000 $212,260 $4,197 3.14%
    $100k-150k 65 $16,085,000 $247,462 $4,205 2.98%
    $150k-250k 43 $13,815,000 $321,279 $4,342 2.86%
    $250k+ 29 $10,515,000 $362,586 $4,424 2.75%

    Patriot Lending Services lent most frequently to those with incomes in the $50k-75k range, with 92 originations. The second most popular income band? $50k or less, with 84 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 97 $21,675,000 $223,454 $4,147 3.02%
    30-36% 72 $15,460,000 $214,722 $3,827 3.28%
    <20% 40 $9,390,000 $234,750 $3,846 2.90%
    37% 18 $3,500,000 $194,444 $3,602 2.89%
    40% 17 $3,245,000 $190,882 $3,966 3.16%
    42% 14 $2,310,000 $165,000 $4,262 3.35%
    45% 14 $2,430,000 $173,571 $4,273 3.30%
    49% 14 $3,320,000 $237,143 $4,420 3.08%
    41% 13 $3,895,000 $299,615 $4,440 3.39%
    39% 13 $2,465,000 $189,615 $4,875 3.66%
    48% 12 $2,400,000 $200,000 $5,258 3.51%
    38% 11 $2,335,000 $212,273 $3,835 3.31%
    46% 10 $1,800,000 $180,000 $4,614 3.29%
    47% 10 $1,840,000 $184,000 $3,617 2.84%
    44% 10 $1,640,000 $164,000 $4,366 3.51%
    43% 10 $2,410,000 $241,000 $4,682 2.69%
    36% 8 $1,620,000 $202,500 $3,428 2.83%
    50-60% 6 $1,190,000 $198,333 $7,086 3.73%

    Patriot Lending Services lent most frequently to those with DTI ratios of 20-30%, with 97 originations. The next most common DTI ratio? 30-36%, with 72 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 355 $76,175,000 $214,577 $4,071 3.16%
    Black 17 $3,395,000 $199,706 $4,633 3.02%
    Not provided 12 $1,940,000 $161,667 $5,195 3.29%
    Asian 4 $1,130,000 $282,500 $4,323 2.88%
    Asian Indian 1 $285,000 $285,000 $9,777 3.13%

    Approval Rates

    Total approvals of all applications
    99.27%

    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 origination
    95.37%

    Patriot Lending Services has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 389 $82,925,000 $213,175

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 33 $3,695,000 $111,970
    Single Family (1-4 Units):Site-Built 356 $79,230,000 $222,556

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 12 $2,260,000 $188,333 $3,624 2.92%
    40-60% 53 $11,595,000 $218,774 $3,836 2.90%
    60-80% 145 $33,125,000 $228,448 $3,747 3.10%
    80-100% 177 $35,875,000 $202,684 $4,661 3.30%
    Under 20% 2 $70,000 $35,000 $0 2.50%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Patriot Mortgage Corporation FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%