Paragon Home Loans Mortgage Rates, Fees & Info
EAST SYRACUSE, NYLEI: 5493007WEU5TWM8J0Z93
Tax ID: 16-1074204
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Mortgage Data
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, Buffalo, Utica, and Binghamton among others. We have data for 32 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 an above average pick rate when compared to similar lenders. Paragon Home Loans 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 | 6.55% | 11/17/24 |
| 30 Year Conventional Refi | 6.44% | 11/17/24 |
| 30 Year FHA Purchase | 7.43% | 11/17/24 |
| 30 Year FHA Refi | 6.91% | 11/17/24 |
| 30 Year VA Purchase | 6.57% | 11/17/24 |
| 30 Year VA Refi | 6.55% | 11/17/24 |
| 30 Year USDA Purchase | 6.93% | 11/17/24 |
| 30 Year USDA Refi | 6.92% | 11/17/24 |
| 15 Year Conventional Purchase | 6.12% | 11/17/24 |
| 15 Year Conventional Refi | 6.21% | 11/17/24 |
| 15 Year Cash-out Refi | 6.21% | 11/17/24 |
| 15 Year FHA Refi | 5.68% | 11/17/24 |
| 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. | ||
Paragon Home Loans Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
2,216Origination Dollar Volume (All Markets)
$365,810,000Awards
PARAGON HOME LOANS - 2020
PARAGON HOME LOANS 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 |
|---|---|---|---|---|---|
| SYRACUSE, NY (FHA|USDA|VA) | 1,014 | $170,160,000 | $167,811 | $3,731 | 3.01% |
| Plattsburgh, NY (FHA|USDA|VA) | 172 | $28,610,000 | $166,337 | $3,792 | 3.08% |
| Outside of Metro Areas | 114 | $22,300,000 | $195,614 | $4,246 | 2.92% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 117 | $21,885,000 | $187,051 | $3,723 | 2.92% |
| UTICA-ROME, NY (FHA|USDA|VA) | 117 | $20,575,000 | $175,855 | $4,177 | 3.06% |
| BINGHAMTON, NY (FHA|USDA|VA) | 152 | $20,290,000 | $133,487 | $3,867 | 3.09% |
| Cortland, NY (FHA|USDA|VA) | 120 | $16,290,000 | $135,750 | $4,137 | 3.05% |
| Corning, NY (FHA|USDA|VA) | 71 | $10,625,000 | $149,648 | $3,903 | 3.09% |
| Auburn, NY (FHA|USDA|VA) | 62 | $9,260,000 | $149,355 | $4,696 | 3.17% |
| ELMIRA, NY (FHA|USDA|VA) | 61 | $8,875,000 | $145,492 | $4,068 | 2.99% |
| Malone, NY (FHA|USDA|VA) | 49 | $8,125,000 | $165,816 | $3,819 | 3.19% |
| Olean, NY (FHA|USDA|VA) | 53 | $5,935,000 | $111,981 | $4,340 | 3.19% |
| ROCHESTER, NY (FHA|USDA|VA) | 33 | $5,365,000 | $162,576 | $3,911 | 3.24% |
| ITHACA, NY (FHA|USDA|VA) | 24 | $3,850,000 | $160,417 | $4,132 | 3.02% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 5 | $2,845,000 | $569,000 | $9,209 | 3.20% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 8 | $2,300,000 | $287,500 | $4,221 | 2.77% |
| Ogdensburg-Massena, NY (FHA|USDA|VA) | 8 | $1,730,000 | $216,250 | $3,379 | 3.09% |
| WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) | 6 | $1,640,000 | $273,333 | $3,538 | 2.77% |
| Seneca Falls, NY (FHA|USDA|VA) | 7 | $1,055,000 | $150,714 | $3,918 | 2.96% |
| GLENS FALLS, NY (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $3,615 | 3.38% |
| Sayre, PA (FHA|USDA|VA) | 4 | $520,000 | $130,000 | $4,956 | 2.69% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $4,809 | 2.25% |
| Batavia, NY (FHA|USDA|VA) | 4 | $470,000 | $117,500 | $3,749 | 3.00% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $3,815 | 2.75% |
| Gloversville, NY (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,804 | 2.63% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,728 | 2.50% |
| STATE COLLEGE, PA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,523 | 2.25% |
| Bradford, PA (FHA|USDA|VA) | 3 | $235,000 | $78,333 | $3,065 | 2.75% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,603 | 2.88% |
| Oneonta, NY (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $3,844 | 3.13% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,348 | 2.50% |
| WILLIAMSPORT, PA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,869 | 3.88% |
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.
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Product Mix
For 2020, Paragon Home Loans's most frequently originated type of loan was Conventional, with 1,400 originations. Their 2nd most popular type was FHA, with 555 originations.
Loan Reason
For 2020, Paragon Home Loans's most frequently cited loan purpose was Home Purchase, with 1,494 originations. The 2nd most popular reason was Refi, with 721 originations.
Loan Duration/Length
For 2020, Paragon Home Loans's most frequently cited loan duration was 30 Year, with 1,711 originations. The 2nd most popular length was 15 Year, with 271 originations.
Origination Fees/Closing Costs
Paragon Home Loans's average total fees were $4,180, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,623 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 957 | $171,525,000 | $179,232 |
| 3-4% | 873 | $131,355,000 | $150,464 |
| <2.5% | 334 | $56,890,000 | $170,329 |
| 4-5% | 52 | $6,040,000 | $116,154 |
During 2020, Paragon Home Loans's average interest rate for loans was 3.12%, while their most frequently originated rate bucket for loans was 2.5-3%, with 957 originations.
Loan Sizing
2020 saw Paragon Home Loans place emphasis on $100k-200k loans with 1,254 originations, totaling $181,440,000 in origination value.
Applicant Income
Paragon Home Loans lent most frequently to those with incomes in the $50k-75k range, with 633 originations. The second most popular income band? $50k or less, with 456 originations.
Applicant Debt to Income Ratio
Paragon Home Loans lent most frequently to those with DTI ratios of 20-30%, with 432 originations. The next most common DTI ratio? 30-36%, with 396 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.49%
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 origination91.38%
Paragon Home Loans has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 2,216 | $365,810,000 | $165,077 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 43 | $5,445,000 | $126,628 |
| Single Family (1-4 Units):Site-Built | 2,173 | $360,365,000 | $165,838 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Paragon Mortgage Services, Inc. | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |