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)
$45,280,000Awards
Allen 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 |