Paragon Home Loans Mortgage Rates, Fees & Info

EAST SYRACUSE, NY

LEI: 5493007WEU5TWM8J0Z93

Tax ID: 16-1074204

5 stars - out of 5 stars, based on 45 reviews

Latest/2021 | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • SimulatedRates™
  • Review & Overview

    Paragon Home Loans is a smaller mortgage company specializing in Home Purchase and Refi loans. Paragon Home Loans has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA 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: Syracuse, Plattsburgh, Utica, Binghamton, and Buffalo among others. We have data for 31 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Paragon Home Loans 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. Paragon Home Loans is typically an average 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    SimulatedRates™

    Mortgage Type
    Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.62% 10/3/22
    30 Year Conventional Refi 6.52% 10/3/22
    30 Year Cash-out Refi 7.21% 10/3/22
    30 Year FHA Purchase 7.50% 10/3/22
    30 Year FHA Refi 7.27% 10/3/22
    30 Year VA Purchase 6.58% 10/3/22
    30 Year VA Refi 6.34% 10/3/22
    30 Year USDA Purchase 6.97% 10/3/22
    30 Year USDA Refi 6.80% 10/3/22
    15 Year Conventional Purchase 6.32% 10/3/22
    15 Year Conventional Refi 6.32% 10/3/22
    15 Year Cash-out Refi 6.32% 10/3/22
    15 Year VA Refi 5.86% 10/3/22
    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.


    Originations

    2,047

    Origination Dollar Volume (All Markets)

    $347,105,000
    Show all (18) awards

    Relative Rate

    Paragon Home Loans 's average 30 year fixed mortgage rate was 3.04%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.11%.

    Relative Fees (Closing Costs)

    Paragon Home Loans 's average total fees/closing costs for a 30 year fixed rate mortgage were $4,230.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

    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
    SYRACUSE, NY (FHA|USDA|VA) 889 $152,895,000 $171,985 $3,760 2.96%
    Plattsburgh, NY (FHA|USDA|VA) 143 $27,365,000 $191,364 $3,865 2.96%
    UTICA-ROME, NY (FHA|USDA|VA) 131 $25,235,000 $192,634 $4,147 2.93%
    BINGHAMTON, NY (FHA|USDA|VA) 160 $22,470,000 $140,438 $4,109 2.97%
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 113 $21,975,000 $194,469 $4,268 2.99%
    Outside of Metro Areas 102 $18,970,000 $185,980 $4,655 2.97%
    Cortland, NY (FHA|USDA|VA) 107 $15,065,000 $140,794 $4,179 2.90%
    Auburn, NY (FHA|USDA|VA) 72 $11,710,000 $162,639 $4,325 3.05%
    ELMIRA, NY (FHA|USDA|VA) 63 $8,395,000 $133,254 $4,872 2.98%
    Malone, NY (FHA|USDA|VA) 47 $7,895,000 $167,979 $4,018 2.89%
    Corning, NY (FHA|USDA|VA) 60 $7,660,000 $127,667 $4,325 3.01%
    ROCHESTER, NY (FHA|USDA|VA) 39 $5,925,000 $151,923 $3,884 3.00%
    Olean, NY (FHA|USDA|VA) 45 $5,235,000 $116,333 $4,463 3.12%
    ITHACA, NY (FHA|USDA|VA) 28 $5,110,000 $182,500 $3,984 2.97%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 4 $2,530,000 $632,500 $8,568 2.94%
    Ogdensburg-Massena, NY (FHA|USDA|VA) 10 $1,560,000 $156,000 $3,859 2.91%
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 5 $1,525,000 $305,000 $3,504 2.78%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 2 $790,000 $395,000 $7,882 3.69%
    WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 3 $625,000 $208,333 $3,002 2.71%
    Sayre, PA (FHA|USDA|VA) 4 $580,000 $145,000 $4,071 3.25%
    Seneca Falls, NY (FHA|USDA|VA) 5 $575,000 $115,000 $4,516 3.25%
    Oneonta, NY (FHA|USDA|VA) 2 $550,000 $275,000 $3,238 3.50%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $545,000 $545,000 $7,966 2.25%
    GLENS FALLS, NY (FHA|USDA|VA) 3 $515,000 $171,667 $3,288 3.21%
    Batavia, NY (FHA|USDA|VA) 2 $380,000 $190,000 $6,178 3.00%
    LANCASTER, PA (FHA|USDA|VA) 1 $305,000 $305,000 $3,737 3.25%
    Bradford, PA (FHA|USDA|VA) 2 $190,000 $95,000 $4,094 3.13%
    KINGSTON, NY (FHA|USDA|VA) 1 $175,000 $175,000 $2,460 2.88%
    WILLIAMSPORT, PA (FHA|USDA|VA) 1 $175,000 $175,000 $3,785 3.25%
    Gloversville, NY (FHA|USDA|VA) 1 $105,000 $105,000 $3,376 2.25%
    Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) 1 $75,000 $75,000 $3,777 3.00%

    Paragon Home Loans 's top markets include Syracuse, Plattsburgh, Utica, Binghamton, and Buffalo among others.

    Similar Lenders

    We use machine learning to identify the top lenders compared against PARAGON HOME LOANS based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Pittsford Federal Credit Union
    Similarity Rank: 52
    SECNY Federal Credit Union
    Similarity Rank: 57
    CFCU Community Credit Union
    Similarity Rank: 90
    COUNTRYSIDE Federal Credit Union
    Similarity Rank: 192
    Adirondack Bank
    Similarity Rank: 224

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,358 $243,230,000 $179,109 $3,293 2.94%
    FHA 472 $68,220,000 $144,534 $5,614 3.05%
    VA 120 $22,790,000 $189,917 $5,747 2.95%
    USDA 96 $12,600,000 $131,250 $4,481 3.02%
    FHA 1 $265,000 $265,000 $0 2.63%

    For 2021, Paragon Home Loans 's most frequently originated type of loan was Conventional, with 1,358 originations. Their 2nd most popular type was FHA, with 472 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,534 $255,600,000 $166,623 $4,272 3.03%
    Refi 506 $90,550,000 $178,953 $3,310 2.78%
    Cash Out Refi 7 $955,000 $136,429 $2,751 2.88%

    For 2021, Paragon Home Loans 's most frequently cited loan purpose was Home Purchase, with 1,534 originations. The 2nd most popular reason was Refi, with 506 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,685 $288,165,000 $171,018 $4,230 3.04%
    15 Year 206 $33,920,000 $164,660 $3,032 2.48%
    20 Year 99 $16,345,000 $165,101 $2,999 2.82%
    Other 42 $6,740,000 $160,476 $3,596 2.88%
    10 Year 15 $1,935,000 $129,000 $3,124 2.44%

    For 2021, Paragon Home Loans 's most frequently cited loan duration was 30 Year, with 1,685 originations. The 2nd most popular length was 15 Year, with 206 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,413 $235,085,000 $166,373
    $1k-2k 412 $62,330,000 $151,286
    $2k-3k 143 $27,725,000 $193,881
    $3k-4k 50 $11,360,000 $227,200
    $4k-5k 17 $5,195,000 $305,588
    $5k+ 11 $5,145,000 $467,727

    Paragon Home Loans 's average total fees were $4,230, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,413 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 923 $158,075,000 $171,262
    3-4% 799 $134,185,000 $167,941
    <2.5% 306 $51,570,000 $168,529
    4-5% 19 $3,275,000 $172,368

    During 2021, Paragon Home Loans 's average interest rate for loans was 3.04%, while their most frequently originated rate bucket for loans was 2.5-3%, with 923 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 1,168 $169,870,000 $145,437 $3,977 2.96%
    $200k-400k 492 $128,980,000 $262,154 $4,464 2.96%
    $100,000 or less 344 $27,300,000 $79,360 $3,309 3.01%
    $400k-600k 39 $17,865,000 $458,077 $5,721 2.92%
    $600k-1MM 3 $2,065,000 $688,333 $9,142 3.67%
    $1MM+ 1 $1,025,000 $1,025,000 $17,263 3.13%

    2021 saw Paragon Home Loans place emphasis on $100k-200k loans with 1,168 originations, totaling $169,870,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 582 $87,270,000 $149,948 $4,194 2.99%
    $50k or less 473 $53,365,000 $112,822 $3,971 2.98%
    $75k-100k 362 $63,470,000 $175,331 $4,032 2.97%
    $100k-150k 349 $73,635,000 $210,989 $4,087 2.94%
    $150k-250k 190 $49,070,000 $258,263 $3,880 2.95%
    $250k+ 46 $12,350,000 $268,478 $3,765 3.05%

    Paragon Home Loans lent most frequently to those with incomes in the $50k-75k range, with 582 originations. The second most popular income band? $50k or less, with 473 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 401 $69,465,000 $173,229 $3,929 2.96%
    20-30% 395 $66,795,000 $169,101 $3,586 2.89%
    <20% 113 $16,545,000 $146,416 $3,327 2.82%
    42% 90 $14,970,000 $166,333 $4,003 3.01%
    37% 88 $13,820,000 $157,045 $3,967 3.03%
    39% 87 $15,515,000 $178,333 $4,127 3.06%
    44% 85 $14,085,000 $165,706 $3,868 3.03%
    50-60% 84 $14,860,000 $176,905 $6,087 3.00%
    38% 80 $13,740,000 $171,750 $3,947 3.08%
    41% 79 $13,925,000 $176,266 $4,241 3.02%
    36% 79 $13,025,000 $164,873 $3,892 2.95%
    40% 78 $12,510,000 $160,385 $4,143 3.04%
    43% 69 $11,135,000 $161,377 $4,361 3.01%
    45% 61 $11,235,000 $184,180 $4,044 3.08%
    46% 56 $8,970,000 $160,179 $4,532 2.92%
    47% 55 $9,945,000 $180,818 $4,517 3.19%
    48% 52 $9,790,000 $188,269 $4,424 2.93%
    49% 50 $8,830,000 $176,600 $5,535 3.07%
    >60% 1 $105,000 $105,000 $3,082 2.50%

    Paragon Home Loans lent most frequently to those with DTI ratios of 30-36%, with 401 originations. The next most common DTI ratio? 20-30%, with 395 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,827 $311,775,000 $170,649 $4,017 2.97%
    Not provided 113 $18,435,000 $163,142 $4,246 2.97%
    Asian 37 $6,675,000 $180,405 $3,390 2.88%
    Black 45 $6,325,000 $140,556 $4,199 3.15%
    American Indian 13 $1,845,000 $141,923 $4,263 3.04%
    Not applicable 5 $1,025,000 $205,000 $5,565 3.00%
    Native Hawaiian or Islander 3 $375,000 $125,000 $4,588 3.00%
    Other Asian 2 $360,000 $180,000 $5,349 2.69%
    Guamanian 1 $165,000 $165,000 $2,576 3.50%
    Asian Indian 1 $125,000 $125,000 $2,164 2.13%

    Approval Rates

    Total approvals of all applications
    96.34%

    Paragon Home Loans 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
    89.64%

    Paragon Home Loans has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,047 $347,105,000 $169,568

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,047 $347,105,000 $169,568

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 23 $3,305,000 $143,696 $3,249 2.66%
    40-60% 109 $17,715,000 $162,523 $3,135 2.60%
    60-80% 519 $89,195,000 $171,859 $3,283 2.96%
    80-100% 1,373 $231,675,000 $168,736 $4,315 3.01%
    Over 100% 23 $5,215,000 $226,739 $8,814 2.96%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Personal Finance Center Conventional home mortgage Struggling to pay mortgage 1 100.0%