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 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.
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Originations
142Origination Dollar Volume (All Markets)
$45,280,000Allen 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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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 |