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 and Refi 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, Raleigh, Greensboro, Winston, and Greenville among others. We have data for 37 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.73% | 12/16/24 |
| 30 Year Conventional Refi | 6.79% | 12/16/24 |
| 30 Year Cash-out Refi | 7.05% | 12/16/24 |
| 30 Year FHA Purchase | 7.78% | 12/16/24 |
| 30 Year VA Purchase | 6.46% | 12/16/24 |
| 30 Year USDA Purchase | 7.01% | 12/16/24 |
| 15 Year Conventional Purchase | 6.11% | 12/16/24 |
| 15 Year Conventional Refi | 6.00% | 12/16/24 |
| 15 Year Cash-out Refi | 6.00% | 12/16/24 |
| 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
1,912Origination Dollar Volume (All Markets)
$484,700,000Awards
Allen Tate Mortgage Partners - 2020
Allen Tate Mortgage Partners is a 2020 , due to their low .
For 2020, 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 |
|---|---|---|---|---|---|
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 991 | $265,515,000 | $267,926 | $3,718 | 3.07% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 222 | $66,900,000 | $301,351 | $3,958 | 2.99% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 173 | $33,515,000 | $193,728 | $3,775 | 2.96% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 128 | $26,740,000 | $208,906 | $4,086 | 3.03% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 111 | $24,715,000 | $222,658 | $3,251 | 3.05% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 59 | $18,385,000 | $311,610 | $3,915 | 3.02% |
| Shelby, NC (FHA|USDA|VA) | 37 | $6,605,000 | $178,514 | $4,155 | 3.28% |
| BURLINGTON, NC (FHA|USDA|VA) | 32 | $6,160,000 | $192,500 | $3,507 | 2.97% |
| Boone, NC (FHA|USDA|VA) | 24 | $5,760,000 | $240,000 | $3,721 | 2.94% |
| SPARTANBURG, SC (FHA|USDA|VA) | 17 | $4,495,000 | $264,412 | $5,510 | 3.26% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 20 | $4,280,000 | $214,000 | $4,420 | 2.94% |
| Outside of Metro Areas | 16 | $3,920,000 | $245,000 | $3,169 | 3.06% |
| Albemarle, NC (FHA|USDA|VA) | 14 | $3,220,000 | $230,000 | $4,137 | 3.08% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 15 | $2,895,000 | $193,000 | $3,172 | 2.93% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 5 | $1,885,000 | $377,000 | $2,993 | 2.80% |
| Seneca, SC (FHA|USDA|VA) | 8 | $1,810,000 | $226,250 | $5,760 | 3.34% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 6 | $1,340,000 | $223,333 | $4,285 | 3.04% |
| COLUMBIA, SC (FHA|USDA|VA) | 4 | $730,000 | $182,500 | $4,470 | 2.94% |
| WILMINGTON, NC (FHA|USDA|VA) | 3 | $685,000 | $228,333 | $4,296 | 3.29% |
| Forest City, NC (FHA|USDA|VA) | 3 | $605,000 | $201,667 | $4,751 | 2.50% |
| Gaffney, SC (FHA|USDA|VA) | 3 | $525,000 | $175,000 | $4,371 | 3.67% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $4,125 | 3.06% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $3,791 | 2.63% |
| ASHEVILLE, NC (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $3,051 | 3.81% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $3,422 | 2.88% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,539 | 3.00% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $3,142 | 2.56% |
| Marion, NC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,117 | 2.63% |
| Wilson, NC (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $6,938 | 3.25% |
| Morehead City, NC (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $2,870 | 2.75% |
| NEW BERN, NC (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,448 | 3.00% |
| Henderson, NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $7,611 | 4.00% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $3,560 | 3.13% |
| Mount Airy, NC (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $4,022 | 3.88% |
| GREENVILLE, NC (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,167 | 3.13% |
| GOLDSBORO, NC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,014 | 2.88% |
| Cullowhee, NC (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,385 | 3.25% |
Their top states include:
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Product Mix
For 2020, Allen Tate Mortgage Partners's most frequently originated type of loan was Conventional, with 1,618 originations. Their 2nd most popular type was FHA, with 172 originations.
Loan Reason
For 2020, Allen Tate Mortgage Partners's most frequently cited loan purpose was Home Purchase, with 1,289 originations. The 2nd most popular reason was Refi, with 574 originations.
Loan Duration/Length
For 2020, Allen Tate Mortgage Partners's most frequently cited loan duration was 30 Year, with 1,648 originations. The 2nd most popular length was 15 Year, with 208 originations.
Origination Fees/Closing Costs
Allen Tate Mortgage Partners's average total fees were $3,924, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,164 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 870 | $229,280,000 | $263,540 |
| 3-4% | 755 | $190,775,000 | $252,682 |
| <2.5% | 233 | $53,005,000 | $227,489 |
| 4-5% | 53 | $11,515,000 | $217,264 |
| 5-6% | 1 | $125,000 | $125,000 |
During 2020, Allen Tate Mortgage Partners's average interest rate for loans was 3.11%, while their most frequently originated rate bucket for loans was 2.5-3%, with 870 originations.
Loan Sizing
2020 saw Allen Tate Mortgage Partners place emphasis on $200k-400k loans with 1,010 originations, totaling $280,590,000 in origination value.
Applicant Income
Allen Tate Mortgage Partners lent most frequently to those with incomes in the $50k-75k range, with 467 originations. The second most popular income band? $100k-150k, with 417 originations.
Applicant Debt to Income Ratio
Allen Tate Mortgage Partners lent most frequently to those with DTI ratios of 20-30%, with 499 originations. The next most common DTI ratio? 30-36%, with 375 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.60%
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 origination78.66%
Allen Tate Mortgage Partners has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,912 | $484,700,000 | $253,504 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 9 | $695,000 | $77,222 |
| Single Family (1-4 Units):Site-Built | 1,903 | $484,005,000 | $254,338 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| ALAMEDA MORTGAGE CORPORATION | Conventional home mortgage | Closing on a mortgage | 1 | 100.0% |