Allen Tate Mortgage Partners Rates, Fees & Info
Charlotte, NCLEI: 5493005WM8ZE8KHE1R85
Tax ID: 47-5133238
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Mortgage Data
Review & Overview
Allen Tate Mortgage Partners is a smaller mortgage company specializing in Home Purchase loans. Allen Tate Mortgage Partners has a high proportion of conventional 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: Charlotte, Raleigh, Winston, Greenville, and Greensboro among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)Allen Tate Mortgage Partners 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. Allen Tate Mortgage Partners 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 relatively high 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.73% | 11/17/24 |
| 30 Year Conventional Refi | 6.79% | 11/17/24 |
| 30 Year Cash-out Refi | 7.05% | 11/17/24 |
| 30 Year FHA Purchase | 7.78% | 11/17/24 |
| 30 Year VA Purchase | 6.46% | 11/17/24 |
| 30 Year USDA Purchase | 7.01% | 11/17/24 |
| 15 Year Conventional Purchase | 6.11% | 11/17/24 |
| 15 Year Conventional Refi | 6.00% | 11/17/24 |
| 15 Year Cash-out Refi | 6.00% | 11/17/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Allen Tate Mortgage Partners Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
142Origination Dollar Volume (All Markets)
$45,280,000Awards
Allen Tate Mortgage Partners - 2023
Allen Tate Mortgage Partners is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Allen Tate Mortgage Partners's average 30 year fixed mortgage rate was
6.33%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.15%.
Relative Fees (Closing Costs)
Allen Tate Mortgage Partners's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,472.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
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 |
|---|---|---|---|---|---|
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 70 | $25,240,000 | $360,571 | $5,069 | 6.30% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 14 | $3,850,000 | $275,000 | $5,593 | 5.99% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 15 | $3,615,000 | $241,000 | $4,729 | 6.18% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 11 | $3,325,000 | $302,273 | $6,251 | 6.30% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 11 | $2,695,000 | $245,000 | $6,338 | 6.24% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 6 | $2,510,000 | $418,333 | $5,259 | 6.19% |
| Boone, NC (FHA|USDA|VA) | 3 | $1,185,000 | $395,000 | $6,823 | 6.50% |
| ASHEVILLE, NC (FHA|USDA|VA) | 2 | $700,000 | $350,000 | $6,389 | 6.88% |
| Sanford, NC (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $4,075 | 6.50% |
| BURLINGTON, NC (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $4,939 | 6.31% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $9,434 | 5.50% |
| SPARTANBURG, SC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,396 | 6.00% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $6,324 | 6.00% |
| Seneca, SC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $8,663 | 6.13% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $5,543 | 6.63% |
| Albemarle, NC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,286 | 7.63% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,476 | 6.88% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against Allen Tate Mortgage Partners 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
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 126 | $40,210,000 | $319,127 | $5,081 | 6.27% |
| VA | 10 | $3,620,000 | $362,000 | $6,882 | 5.98% |
| FHA | 6 | $1,450,000 | $241,667 | $8,885 | 6.67% |
For 2023, Allen Tate Mortgage Partners's most frequently originated type of loan was Conventional, with 126 originations. Their 2nd most popular type was VA, with 10 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 141 | $45,195,000 | $320,532 | $5,382 | 6.26% |
| Cash Out Refi | 1 | $85,000 | $85,000 | $3,476 | 6.88% |
For 2023, Allen Tate Mortgage Partners's most frequently cited loan purpose was Home Purchase, with 141 originations. The 2nd most popular reason was Cash Out Refi, with 1 originations.
Loan Duration/Length
For 2023, Allen Tate Mortgage Partners's most frequently cited loan duration was 30 Year, with 131 originations. The 2nd most popular length was 15 Year, with 9 originations.
Origination Fees/Closing Costs
Allen Tate Mortgage Partners's average total fees were $5,472, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 75 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 84 | $27,750,000 | $330,357 |
| 5-6% | 50 | $14,700,000 | $294,000 |
| 7-8% | 8 | $2,830,000 | $353,750 |
During 2023, Allen Tate Mortgage Partners's average interest rate for loans was 6.33%, while their most frequently originated rate bucket for loans was 6-7%, with 84 originations.
Loan Sizing
2023 saw Allen Tate Mortgage Partners place emphasis on $200k-400k loans with 79 originations, totaling $23,325,000 in origination value.
Applicant Income
Allen Tate Mortgage Partners lent most frequently to those with incomes in the $50k-75k range, with 33 originations. The second most popular income band? $100k-150k, with 32 originations.
Applicant Debt to Income Ratio
Allen Tate Mortgage Partners lent most frequently to those with DTI ratios of 30-36%, with 28 originations. The next most common DTI ratio? 20-30%, with 27 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
Allen Tate Mortgage Partners has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination81.69%
Allen Tate Mortgage Partners has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 142 | $45,280,000 | $318,873 |