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 and Refi loans. Patriot Lending Services has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Pittsburgh, Tampa, North Port, Homosassa Springs, and Cape Coral among others. We have data for 18 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 an average 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
354Origination Dollar Volume (All Markets)
$79,790,000Awards
Patriot Lending Services - 2021
Patriot Lending Services is a 2021 , due to their low .
For 2021, 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 |
|---|---|---|---|---|---|
| PITTSBURGH, PA (FHA|USDA|VA) | 196 | $44,270,000 | $225,867 | $5,060 | 2.98% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 92 | $21,610,000 | $234,891 | $4,091 | 3.05% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 30 | $5,540,000 | $184,667 | $3,729 | 3.06% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 10 | $1,590,000 | $159,000 | $2,893 | 3.14% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 4 | $1,280,000 | $320,000 | $3,830 | 2.87% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 4 | $1,140,000 | $285,000 | $3,089 | 2.53% |
| Outside of Metro Areas | 3 | $1,095,000 | $365,000 | $6,616 | 3.29% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $4,222 | 2.69% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $3,263 | 2.81% |
| New Castle, PA (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $7,288 | 2.94% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $3,789 | 2.63% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $4,403 | 3.25% |
| THE VILLAGES, FL (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $1,621 | 2.75% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $8,102 | 3.25% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,472 | 3.00% |
| ERIE, PA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,484 | 2.25% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $6,208 | 2.50% |
| OCALA, FL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 3.38% |
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 2021, Patriot Lending Services's most frequently originated type of loan was Conventional, with 312 originations. Their 2nd most popular type was FHA, with 28 originations.
Loan Reason
For 2021, Patriot Lending Services's most frequently cited loan purpose was Home Purchase, with 175 originations. The 2nd most popular reason was Refi, with 107 originations.
Loan Duration/Length
For 2021, Patriot Lending Services's most frequently cited loan duration was 30 Year, with 297 originations. The 2nd most popular length was 15 Year, with 39 originations.
Origination Fees/Closing Costs
Patriot Lending Services's average total fees were $4,749, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 266 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 154 | $37,330,000 | $242,403 |
| 3-4% | 144 | $30,680,000 | $213,056 |
| <2.5% | 51 | $10,935,000 | $214,412 |
| 4-5% | 5 | $845,000 | $169,000 |
During 2021, Patriot Lending Services's average interest rate for loans was 3.07%, while their most frequently originated rate bucket for loans was 2.5-3%, with 154 originations.
Loan Sizing
2021 saw Patriot Lending Services place emphasis on $100k-200k loans with 169 originations, totaling $25,325,000 in origination value.
Applicant Income
Patriot Lending Services lent most frequently to those with incomes in the $50k-75k range, with 93 originations. The second most popular income band? $100k-150k, with 78 originations.
Applicant Debt to Income Ratio
Patriot Lending Services lent most frequently to those with DTI ratios of 20-30%, with 77 originations. The next most common DTI ratio? 30-36%, with 57 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.16%
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 origination74.29%
Patriot Lending Services has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 354 | $79,790,000 | $225,395 |