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 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 Durham among others. We have data for 33 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% | 4/28/24 |
| 30 Year Conventional Refi | 6.79% | 4/28/24 |
| 30 Year Cash-out Refi | 7.05% | 4/28/24 |
| 30 Year FHA Purchase | 7.78% | 4/28/24 |
| 30 Year VA Purchase | 6.46% | 4/28/24 |
| 30 Year USDA Purchase | 7.01% | 4/28/24 |
| 15 Year Conventional Purchase | 6.11% | 4/28/24 |
| 15 Year Conventional Refi | 6.00% | 4/28/24 |
| 15 Year Cash-out Refi | 6.00% | 4/28/24 |
| 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
1,252Origination Dollar Volume (All Markets)
$340,810,000Awards
Allen Tate Mortgage Partners - 2021
Allen Tate Mortgage Partners 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 |
|---|---|---|---|---|---|
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 581 | $174,995,000 | $301,196 | $3,899 | 2.99% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 132 | $41,670,000 | $315,682 | $3,624 | 2.96% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 191 | $40,435,000 | $211,702 | $4,114 | 3.04% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 115 | $23,665,000 | $205,783 | $4,251 | 3.04% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 39 | $12,425,000 | $318,590 | $3,618 | 3.03% |
| Boone, NC (FHA|USDA|VA) | 22 | $7,970,000 | $362,273 | $4,274 | 3.11% |
| BURLINGTON, NC (FHA|USDA|VA) | 31 | $6,965,000 | $224,677 | $4,094 | 3.02% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 26 | $4,780,000 | $183,846 | $4,131 | 2.80% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 12 | $4,080,000 | $340,000 | $4,007 | 3.16% |
| Outside of Metro Areas | 14 | $3,670,000 | $262,143 | $4,096 | 3.11% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 11 | $3,115,000 | $283,182 | $5,195 | 2.92% |
| SPARTANBURG, SC (FHA|USDA|VA) | 12 | $3,090,000 | $257,500 | $4,643 | 2.83% |
| Shelby, NC (FHA|USDA|VA) | 17 | $2,895,000 | $170,294 | $3,750 | 3.10% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 9 | $1,915,000 | $212,778 | $3,048 | 3.19% |
| ASHEVILLE, NC (FHA|USDA|VA) | 4 | $1,120,000 | $280,000 | $5,508 | 2.78% |
| Seneca, SC (FHA|USDA|VA) | 5 | $975,000 | $195,000 | $5,268 | 3.43% |
| Albemarle, NC (FHA|USDA|VA) | 5 | $965,000 | $193,000 | $4,002 | 3.13% |
| Morehead City, NC (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $6,765 | 3.63% |
| Sanford, NC (FHA|USDA|VA) | 3 | $695,000 | $231,667 | $5,685 | 3.17% |
| COLUMBIA, SC (FHA|USDA|VA) | 3 | $565,000 | $188,333 | $4,098 | 3.33% |
| North Wilkesboro, NC (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $6,880 | 3.75% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $2,862 | 3.25% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $5,259 | 3.00% |
| Mount Airy, NC (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $3,180 | 3.00% |
| Brevard, NC (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $4,297 | 3.25% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $9,736 | 3.75% |
| WILMINGTON, NC (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $2,567 | 3.31% |
| GREENVILLE, NC (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $4,888 | 3.69% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,551 | 2.63% |
| Henderson, NC (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $9,685 | 3.50% |
| Wilson, NC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,779 | 2.63% |
| Georgetown, SC (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,372 | 2.38% |
| GOLDSBORO, NC (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $4,055 | 2.13% |
Their top states include:
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Product Mix
For 2021, Allen Tate Mortgage Partners's most frequently originated type of loan was Conventional, with 1,101 originations. Their 2nd most popular type was FHA, with 97 originations.
Loan Reason
For 2021, Allen Tate Mortgage Partners's most frequently cited loan purpose was Home Purchase, with 973 originations. The 2nd most popular reason was Refi, with 220 originations.
Loan Duration/Length
For 2021, Allen Tate Mortgage Partners's most frequently cited loan duration was 30 Year, with 1,119 originations. The 2nd most popular length was 15 Year, with 94 originations.
Origination Fees/Closing Costs
Allen Tate Mortgage Partners's average total fees were $4,087, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 670 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 577 | $164,425,000 | $284,965 |
| 3-4% | 514 | $141,720,000 | $275,720 |
| <2.5% | 140 | $31,130,000 | $222,357 |
| 4-5% | 20 | $3,530,000 | $176,500 |
| 5-6% | 1 | $5,000 | $5,000 |
During 2021, Allen Tate Mortgage Partners's average interest rate for loans was 3.05%, while their most frequently originated rate bucket for loans was 2.5-3%, with 577 originations.
Loan Sizing
2021 saw Allen Tate Mortgage Partners place emphasis on $200k-400k loans with 617 originations, totaling $174,435,000 in origination value.
Applicant Income
Allen Tate Mortgage Partners lent most frequently to those with incomes in the $50k-75k range, with 310 originations. The second most popular income band? $100k-150k, with 246 originations.
Applicant Debt to Income Ratio
Allen Tate Mortgage Partners lent most frequently to those with DTI ratios of 20-30%, with 353 originations. The next most common DTI ratio? 30-36%, with 234 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.68%
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 origination80.43%
Allen Tate Mortgage Partners has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,252 | $340,810,000 | $272,212 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| ALLIANT CREDIT UNION | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 4 | 26.7% |
| ALLIANT CREDIT UNION | Conventional home mortgage | Closing on a mortgage | 1 | 6.7% |
| ALLIANT CREDIT UNION | Conventional home mortgage | Trouble during payment process | 6 | 40.0% |
| ALLIANT CREDIT UNION | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 6.7% |
| ALLIANT CREDIT UNION | Other type of mortgage | Incorrect information on your report | 1 | 6.7% |
| ALLIANT CREDIT UNION | Other type of mortgage | Trouble during payment process | 2 | 13.3% |