Allen Tate Mortgage Partners Rates, Fees & Info

Charlotte, NC

LEI: 5493005WM8ZE8KHE1R85

Tax ID: 47-5133238

5 stars - Updated: 12/3/24 - out of 5 stars, based on 12 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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.

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

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.73% 12/3/24
30 Year Conventional Refi 6.79% 12/3/24
30 Year Cash-out Refi 7.05% 12/3/24
30 Year FHA Purchase 7.78% 12/3/24
30 Year VA Purchase 6.46% 12/3/24
30 Year USDA Purchase 7.01% 12/3/24
15 Year Conventional Purchase 6.11% 12/3/24
15 Year Conventional Refi 6.00% 12/3/24
15 Year Cash-out Refi 6.00% 12/3/24
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






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Allen Tate Mortgage Partners. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

142

Origination Dollar Volume (All Markets)

$45,280,000

Awards

Allen Tate Mortgage Partners 30 Year Conventional Loans bronze Allen Tate Mortgage Partners 30 Year Conventional Loans bronze
Show all (2) awards

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%
Allen Tate Mortgage Partners's top markets include Charlotte, Raleigh, Winston, Greenville, and Greensboro among others.

Their top states include:
  • North Carolina (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • 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.

    SCIENT Federal Credit Union
    Similarity Rank: 110
    GREENVILLE FEDERAL CREDIT UNION
    Similarity Rank: 376
    Bank of Tennessee
    Similarity Rank: 630
    Piedmont Federal Savings Bank
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    Allen Tate Mortgage Partners, LLC
    Similarity Rank: 1377

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 131 $41,815,000 $319,198 $5,472 6.33%
    15 Year 9 $3,005,000 $333,889 $4,262 5.35%
    20 Year 1 $175,000 $175,000 $3,666 6.00%
    Other 1 $285,000 $285,000 $3,499 6.63%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 75 $24,565,000 $327,533
    $3k-4k 21 $5,475,000 $260,714
    $2k-3k 18 $4,170,000 $231,667
    $5k+ 11 $4,805,000 $436,818
    $4k-5k 10 $3,560,000 $356,000
    $<1k 7 $2,705,000 $386,429

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 79 $23,325,000 $295,253 $5,576 6.26%
    $100k-200k 28 $4,350,000 $155,357 $4,488 6.18%
    $400k-600k 24 $11,420,000 $475,833 $5,872 6.41%
    $600k-1MM 7 $4,485,000 $640,714 $5,543 6.16%
    $100,000 or less 3 $255,000 $85,000 $3,529 6.08%
    $1MM+ 1 $1,445,000 $1,445,000 $5,909 7.00%

    2023 saw Allen Tate Mortgage Partners place emphasis on $200k-400k loans with 79 originations, totaling $23,325,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 33 $6,985,000 $211,667 $5,014 6.15%
    $100k-150k 32 $11,100,000 $346,875 $5,751 6.29%
    $150k-250k 26 $11,340,000 $436,154 $5,219 6.39%
    $75k-100k 22 $6,570,000 $298,636 $5,189 6.30%
    $50k or less 21 $3,815,000 $181,667 $4,885 6.19%
    $250k+ 8 $5,470,000 $683,750 $7,555 6.36%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 28 $8,560,000 $305,714 $4,866 6.33%
    20-30% 27 $9,915,000 $367,222 $4,975 6.15%
    42% 9 $2,595,000 $288,333 $4,948 6.25%
    40% 9 $2,755,000 $306,111 $5,895 6.24%
    49% 9 $3,395,000 $377,222 $5,964 6.11%
    46% 9 $2,885,000 $320,556 $5,648 6.26%
    44% 7 $2,035,000 $290,714 $4,907 6.54%
    36% 6 $2,220,000 $370,000 $6,116 6.56%
    45% 6 $1,530,000 $255,000 $5,260 6.46%
    43% 6 $1,260,000 $210,000 $5,874 5.96%
    41% 5 $1,285,000 $257,000 $4,463 6.15%
    <20% 4 $1,530,000 $382,500 $6,270 6.34%
    39% 4 $1,090,000 $272,500 $6,477 6.59%
    47% 3 $805,000 $268,333 $4,584 6.04%
    48% 3 $1,455,000 $485,000 $3,996 6.13%
    50-60% 3 $985,000 $328,333 $8,565 6.00%
    38% 2 $640,000 $320,000 $6,585 5.75%
    37% 2 $340,000 $170,000 $6,977 7.25%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 117 $37,415,000 $319,786 $5,327 6.30%
    Black 9 $3,255,000 $361,667 $6,640 6.06%
    Asian 8 $2,150,000 $268,750 $4,473 6.16%
    Not provided 6 $1,970,000 $328,333 $5,257 6.08%
    American Indian 2 $490,000 $245,000 $6,023 6.25%

    Approval Rates

    Total approvals of all applications
    100.00%

    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 origination
    81.69%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    142 $45,280,000 $318,873

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $790,000 $131,667 $4,153 6.02%
    40-60% 10 $3,010,000 $301,000 $4,840 6.25%
    60-80% 36 $10,450,000 $290,278 $5,499 6.17%
    80-100% 86 $29,920,000 $347,907 $5,294 6.34%
    Over 100% 3 $1,035,000 $345,000 $11,084 5.92%
    Under 20% 1 $75,000 $75,000 $2,544 5.50%