Allen Tate Mortgage Partners Rates, Fees & Info

Charlotte, NC

LEI: 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 an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Charlotte, Greensboro, Raleigh, Winston, and Greenville among others. We have data for 27 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 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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SimulatedRates™

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

1,282

Origination Dollar Volume (All Markets)

$288,940,000
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
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 761 $183,075,000 $240,572 $4,000 4.10%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 128 $23,980,000 $187,344 $4,195 4.04%
RALEIGH-CARY, NC (FHA|USDA|VA) 87 $23,075,000 $265,230 $4,345 4.04%
WINSTON-SALEM, NC (FHA|USDA|VA) 96 $17,290,000 $180,104 $4,220 4.11%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 79 $15,095,000 $191,076 $3,749 4.04%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 21 $5,705,000 $271,667 $4,747 3.97%
SPARTANBURG, SC (FHA|USDA|VA) 22 $4,530,000 $205,909 $4,121 3.99%
Shelby, NC (FHA|USDA|VA) 27 $4,325,000 $160,185 $4,553 4.25%
BURLINGTON, NC (FHA|USDA|VA) 9 $1,965,000 $218,333 $5,739 3.94%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 8 $1,590,000 $198,750 $3,466 3.97%
Seneca, SC (FHA|USDA|VA) 9 $1,585,000 $176,111 $2,801 4.07%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 5 $1,205,000 $241,000 $3,237 4.15%
FAYETTEVILLE, NC (FHA|USDA|VA) 4 $870,000 $217,500 $7,152 3.90%
Mount Airy, NC (FHA|USDA|VA) 5 $825,000 $165,000 $5,074 4.53%
COLUMBIA, SC (FHA|USDA|VA) 4 $620,000 $155,000 $4,512 3.97%
Albemarle, NC (FHA|USDA|VA) 4 $610,000 $152,500 $3,720 4.19%
ROCKY MOUNT, NC (FHA|USDA|VA) 2 $400,000 $200,000 $3,163 4.38%
WILMINGTON, NC (FHA|USDA|VA) 2 $350,000 $175,000 $4,205 3.75%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $335,000 $335,000 $3,332 4.13%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 1 $305,000 $305,000 $11,953 3.38%
ASHEVILLE, NC (FHA|USDA|VA) 1 $235,000 $235,000 $3,768 4.25%
Sanford, NC (FHA|USDA|VA) 1 $225,000 $225,000 $5,181 3.75%
NEW BERN, NC (FHA|USDA|VA) 1 $215,000 $215,000 $4,814 4.25%
Greenwood, SC (FHA|USDA|VA) 1 $205,000 $205,000 $6,828 3.63%
Roanoke Rapids, NC (FHA|USDA|VA) 1 $135,000 $135,000 $5,219 4.13%
Boone, NC (FHA|USDA|VA) 1 $95,000 $95,000 $2,993 4.13%
Henderson, NC (FHA|USDA|VA) 1 $95,000 $95,000 $4,129 3.50%
Allen Tate Mortgage Partners's top markets include Charlotte, Greensboro, Raleigh, Winston, and Greenville 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.

    GREENVILLE FEDERAL CREDIT UNION
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 961 $222,535,000 $231,566 $3,444 4.14%
    FHA 185 $35,415,000 $191,432 $6,458 3.96%
    VA 104 $26,060,000 $250,577 $5,732 3.82%
    USDA 32 $4,930,000 $154,063 $4,538 4.08%

    For 2019, Allen Tate Mortgage Partners's most frequently originated type of loan was Conventional, with 961 originations. Their 2nd most popular type was FHA, with 185 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,148 $256,200,000 $223,171 $4,155 4.11%
    Refi 111 $28,535,000 $257,072 $3,364 3.74%
    Cash Out Refi 23 $4,205,000 $182,826 $4,417 4.20%

    For 2019, Allen Tate Mortgage Partners's most frequently cited loan purpose was Home Purchase, with 1,148 originations. The 2nd most popular reason was Refi, with 111 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,189 $270,115,000 $227,178 $4,160 4.12%
    15 Year 68 $13,510,000 $198,676 $3,241 3.58%
    20 Year 20 $4,320,000 $216,000 $3,208 3.77%
    Other 3 $785,000 $261,667 $2,542 4.75%
    10 Year 2 $210,000 $105,000 $2,866 3.81%

    For 2019, Allen Tate Mortgage Partners's most frequently cited loan duration was 30 Year, with 1,189 originations. The 2nd most popular length was 15 Year, with 68 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 880 $205,990,000 $234,080
    $1k-2k 303 $60,085,000 $198,300
    $2k-3k 76 $16,370,000 $215,395
    $3k-4k 15 $4,375,000 $291,667
    $4k-5k 7 $1,665,000 $237,857
    $5k+ 1 $455,000 $455,000

    Allen Tate Mortgage Partners's average total fees were $4,160, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 880 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 705 $165,315,000 $234,489
    4-5% 540 $118,550,000 $219,537
    5-6% 33 $4,425,000 $134,091
    2.5-3% 4 $650,000 $162,500

    During 2019, Allen Tate Mortgage Partners's average interest rate for loans was 4.12%, while their most frequently originated rate bucket for loans was 3-4%, with 705 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 592 $160,760,000 $271,554 $4,417 4.02%
    $100k-200k 519 $79,035,000 $152,283 $3,771 4.13%
    $100,000 or less 83 $6,395,000 $77,048 $3,221 4.28%
    $400k-600k 82 $37,580,000 $458,293 $4,551 4.01%
    $600k-1MM 5 $3,685,000 $737,000 $5,824 4.28%
    $1MM+ 1 $1,485,000 $1,485,000 $3,655 3.75%

    2019 saw Allen Tate Mortgage Partners place emphasis on $200k-400k loans with 592 originations, totaling $160,760,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 375 $73,205,000 $195,213 $4,079 4.12%
    $50k or less 301 $44,725,000 $148,588 $3,892 4.06%
    $75k-100k 231 $54,095,000 $234,177 $4,347 4.09%
    $100k-150k 207 $58,495,000 $282,585 $4,207 4.09%
    $150k-250k 128 $42,050,000 $328,516 $4,141 4.02%
    $250k+ 37 $15,735,000 $425,270 $3,513 4.05%

    Allen Tate Mortgage Partners lent most frequently to those with incomes in the $50k-75k range, with 375 originations. The second most popular income band? $50k or less, with 301 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 293 $67,385,000 $229,983 $3,825 4.06%
    30-36% 255 $58,885,000 $230,922 $4,053 4.13%
    <20% 80 $18,770,000 $234,625 $3,312 3.97%
    41% 59 $13,695,000 $232,119 $4,355 4.16%
    36% 57 $13,005,000 $228,158 $4,309 4.15%
    42% 52 $10,400,000 $200,000 $4,080 4.12%
    40% 50 $10,130,000 $202,600 $3,827 4.11%
    44% 49 $11,685,000 $238,469 $4,052 4.16%
    43% 48 $10,960,000 $228,333 $4,603 4.06%
    50-60% 44 $9,120,000 $207,273 $6,430 3.82%
    39% 43 $9,215,000 $214,302 $3,675 4.21%
    38% 39 $8,335,000 $213,718 $4,117 4.07%
    46% 37 $8,035,000 $217,162 $4,168 4.08%
    47% 37 $8,065,000 $217,973 $4,794 4.00%
    45% 36 $7,630,000 $211,944 $4,513 4.12%
    37% 35 $8,255,000 $235,857 $4,166 4.15%
    48% 31 $7,165,000 $231,129 $3,942 4.02%
    49% 30 $6,610,000 $220,333 $4,122 4.11%
    >60% 5 $1,065,000 $213,000 $1,567 3.43%

    Allen Tate Mortgage Partners lent most frequently to those with DTI ratios of 20-30%, with 293 originations. The next most common DTI ratio? 30-36%, with 255 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,152 $262,330,000 $227,717 $4,040 4.08%
    Black 69 $14,175,000 $205,435 $4,904 4.08%
    Asian 45 $9,105,000 $202,333 $3,932 4.01%
    Not provided 11 $2,185,000 $198,636 $4,259 4.34%
    American Indian 3 $605,000 $201,667 $6,413 4.04%
    Not applicable 1 $315,000 $315,000 $2,892 3.63%
    Native Hawaiian or Islander 1 $225,000 $225,000 $5,651 3.99%

    Approval Rates

    Total approvals of all applications
    97.85%

    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
    79.25%

    Allen Tate Mortgage Partners has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,282 $288,940,000 $225,382

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 9 $1,015,000 $112,778
    Single Family (1-4 Units):Site-Built 1,273 $287,925,000 $226,178

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 38 $4,530,000 $119,211 $2,822 3.90%
    40-60% 80 $14,580,000 $182,250 $3,060 3.93%
    60-80% 312 $72,630,000 $232,788 $3,308 4.11%
    80-100% 816 $187,490,000 $229,767 $4,349 4.11%
    Over 100% 34 $9,520,000 $280,000 $9,027 3.80%
    Under 20% 1 $45,000 $45,000 $2,702 3.99%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Allen Tate Mortgage Services Conventional home mortgage Trouble during payment process 1 100.0%