Penrith Home Loans Mortgage Rates, Fees & Info

WILMINGTON, DE

LEI: 5493008GYZEYGLI3NQ97

Tax ID: 47-0933090

3.5 stars - Updated: 12/16/24 - out of 5 stars, based on 20 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Penrith Home Loans is a smaller mortgage company specializing in Home Purchase loans. Penrith Home Loans has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Seattle, Portland, Spokane, Bremerton, and Olympia among others. We have data for 24 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Penrith 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. Penrith Home Loans is typically a high 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 relatively high 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 6.52% 12/16/24
    30 Year Conventional Refi 6.74% 12/16/24
    30 Year Cash-out Refi 6.78% 12/16/24
    30 Year FHA Purchase 7.51% 12/16/24
    30 Year VA Purchase 6.00% 12/16/24
    15 Year Conventional Purchase 6.16% 12/16/24
    15 Year Conventional Refi 6.29% 12/16/24
    15 Year Cash-out Refi 6.29% 12/16/24
    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.

    Penrith Home Loans Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Penrith Home Loans. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    419

    Origination Dollar Volume (All Markets)

    $199,845,000

    Awards

    PENRITH HOME LOANS 30 Year Conventional Loans silver
    Show all (1) awards

    Relative Rate

    Penrith Home Loans's average 30 year fixed mortgage rate was 6.78%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of 0.3%.

    Relative Fees (Closing Costs)

    Penrith Home Loans's average total fees/closing costs for a 30 year fixed rate mortgage were $9,644.

    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 $9,089.

    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
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 204 $118,050,000 $578,676 $10,805 6.65%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 71 $30,835,000 $434,296 $7,047 6.81%
    SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 74 $24,460,000 $330,541 $10,197 6.49%
    BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 22 $9,690,000 $440,455 $8,305 7.04%
    OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 8 $2,390,000 $298,750 $9,174 6.45%
    Oak Harbor, WA (FHA|USDA|VA) 6 $2,370,000 $395,000 $5,905 6.73%
    MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 5 $2,325,000 $465,000 $7,187 6.85%
    WENATCHEE, WA (FHA|USDA|VA) 5 $1,855,000 $371,000 $7,018 6.47%
    Outside of Metro Areas 4 $1,530,000 $382,500 $10,289 7.03%
    Shelton, WA (FHA|USDA|VA) 3 $815,000 $271,667 $10,697 7.50%
    Pullman, WA (FHA|USDA|VA) 2 $700,000 $350,000 $9,160 6.81%
    Aberdeen, WA (FHA|USDA|VA) 3 $665,000 $221,667 $4,881 6.33%
    Astoria, OR (FHA|USDA|VA) 1 $605,000 $605,000 $5,062 8.13%
    EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 1 $465,000 $465,000 $6,053 8.13%
    Ellensburg, WA (FHA|USDA|VA) 1 $405,000 $405,000 $3,728 7.63%
    CORVALLIS, OR (FHA|USDA|VA) 1 $405,000 $405,000 $5,382 6.63%
    GRANTS PASS, OR (FHA|USDA|VA) 1 $395,000 $395,000 $3,813 7.88%
    Outside of Metro Areas 1 $355,000 $355,000 $3,376 7.50%
    Newport, OR (FHA|USDA|VA) 1 $315,000 $315,000 $5,346 6.99%
    Moses Lake, WA (FHA|USDA|VA) 1 $285,000 $285,000 $4,432 7.38%
    KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 1 $285,000 $285,000 $9,378 6.25%
    SALEM, OR (FHA|USDA|VA) 1 $285,000 $285,000 $4,614 7.13%
    LONGVIEW, WA (FHA|USDA|VA) 1 $215,000 $215,000 $6,598 6.13%
    Centralia, WA (FHA|USDA|VA) 1 $145,000 $145,000 $4,092 6.25%
    Penrith Home Loans's top markets include Seattle, Portland, Spokane, Bremerton, and Olympia among others.

    Their top states include:
  • Washington (FHA|USDA|VA)
  • Oregon (FHA|USDA|VA)
  • Idaho (FHA|USDA|VA)

    • Similar Lenders

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

    Olympia Federal Savings & Loan Association
    Similarity Rank: 56
    Cashmere Valley Bank
    Similarity Rank: 140
    KITSAP Credit Union
    Similarity Rank: 238
    INROADS
    Similarity Rank: 238
    Yakima Federal Savings and Loan Association
    Similarity Rank: 295
    LO, INC.
    Similarity Rank: 492
    CU HOME MORTGAGE SOLUTIONS, LLC
    Similarity Rank: 693
    Clackamas Federal Credit Union
    Similarity Rank: 776
    COLUMBIA COMMUNITY CREDIT UNION
    Similarity Rank: 988
    FIBRE FEDERAL CREDIT UNION
    Similarity Rank: 1281

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 349 $167,505,000 $479,957 $8,136 6.74%
    FHA 39 $16,665,000 $427,308 $16,635 6.49%
    VA 31 $15,675,000 $505,645 $15,934 6.43%

    For 2023, Penrith Home Loans's most frequently originated type of loan was Conventional, with 349 originations. Their 2nd most popular type was FHA, with 39 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 406 $196,610,000 $484,261 $9,559 6.69%
    Cash Out Refi 7 $1,765,000 $252,143 $8,394 6.86%
    Other 3 $615,000 $205,000 $5,978 6.58%
    Refi 3 $855,000 $285,000 $11,478 6.08%

    For 2023, Penrith Home Loans's most frequently cited loan purpose was Home Purchase, with 406 originations. The 2nd most popular reason was Cash Out Refi, with 7 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 404 $196,030,000 $485,223 $9,644 6.78%
    20 Year 5 $1,035,000 $207,000 $6,203 6.70%
    Other 5 $75,000 $15,000 $312 0.00%
    15 Year 4 $2,400,000 $600,000 $5,097 6.40%
    10 Year 1 $305,000 $305,000 $6,033 6.88%

    For 2023, Penrith Home Loans's most frequently cited loan duration was 30 Year, with 404 originations. The 2nd most popular length was 20 Year, with 5 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 180 $100,760,000 $559,778
    $1k-2k 96 $47,430,000 $494,063
    $4k-5k 52 $20,830,000 $400,577
    $2k-3k 41 $15,365,000 $374,756
    $3k-4k 40 $13,660,000 $341,500
    $<1k 7 $575,000 $82,143

    Penrith Home Loans's average total fees were $9,644, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 180 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 238 $116,350,000 $488,866
    7-8% 114 $54,260,000 $475,965
    5-6% 49 $22,385,000 $456,837
    Over 8% 10 $5,120,000 $512,000
    <2.5% 5 $75,000 $15,000
    4-5% 3 $1,655,000 $551,667

    During 2023, Penrith Home Loans's average interest rate for loans was 6.78%, while their most frequently originated rate bucket for loans was 6-7%, with 238 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 138 $42,890,000 $310,797 $7,886 6.75%
    $400k-600k 137 $65,865,000 $480,766 $10,542 6.87%
    $600k-1MM 92 $69,260,000 $752,826 $11,669 6.84%
    $100k-200k 26 $4,110,000 $158,077 $4,851 6.38%
    $100,000 or less 13 $745,000 $57,308 $3,931 4.10%
    $1MM+ 13 $16,975,000 $1,305,769 $14,335 6.39%

    2023 saw Penrith Home Loans place emphasis on $200k-400k loans with 138 originations, totaling $42,890,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 129 $71,695,000 $555,775 $9,715 6.84%
    $100k-150k 108 $45,660,000 $422,778 $9,582 6.65%
    $75k-100k 67 $20,725,000 $309,328 $8,427 6.43%
    $250k+ 66 $51,670,000 $782,879 $12,470 6.90%
    $50k-75k 39 $8,495,000 $217,821 $6,668 6.51%
    $50k or less 10 $1,600,000 $160,000 $5,740 6.30%

    Penrith Home Loans lent most frequently to those with incomes in the $150k-250k range, with 129 originations. The second most popular income band? $100k-150k, with 108 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 77 $34,915,000 $453,442 $8,559 6.61%
    20-30% 59 $28,715,000 $486,695 $8,281 6.83%
    49% 36 $17,630,000 $489,722 $10,182 6.83%
    47% 25 $12,305,000 $492,200 $10,036 6.70%
    41% 22 $9,340,000 $424,545 $10,775 6.68%
    45% 22 $10,700,000 $486,364 $9,407 6.52%
    43% 19 $9,975,000 $525,000 $7,985 6.74%
    50-60% 18 $9,830,000 $546,111 $18,137 6.44%
    44% 18 $9,070,000 $503,889 $10,868 6.91%
    46% 17 $7,355,000 $432,647 $8,332 7.00%
    39% 17 $7,915,000 $465,588 $10,479 5.99%
    <20% 16 $5,210,000 $325,625 $7,111 6.62%
    48% 15 $7,165,000 $477,667 $7,723 6.76%
    37% 15 $7,085,000 $472,333 $10,781 6.82%
    40% 14 $8,350,000 $596,429 $8,675 6.63%
    42% 11 $6,255,000 $568,636 $8,990 6.73%
    38% 9 $3,435,000 $381,667 $8,459 6.74%
    36% 9 $4,595,000 $510,556 $11,039 6.90%

    Penrith Home Loans lent most frequently to those with DTI ratios of 30-36%, with 77 originations. The next most common DTI ratio? 20-30%, with 59 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 315 $145,755,000 $462,714 $9,412 6.69%
    Not provided 56 $26,670,000 $476,250 $8,817 6.78%
    Asian 31 $19,155,000 $617,903 $10,805 6.66%
    Black 9 $3,955,000 $439,444 $12,091 6.29%
    American Indian 6 $2,480,000 $413,333 $11,568 6.75%
    Native Hawaiian or Islander 2 $1,830,000 $915,000 $11,809 6.88%

    Approval Rates

    Total approvals of all applications
    98.13%

    Penrith 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
    76.13%

    Penrith Home Loans has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 419 $199,845,000 $476,957

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    419 $199,845,000 $476,957

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 26 $5,300,000 $203,846 $5,158 6.51%
    40-60% 57 $22,485,000 $394,474 $7,104 6.69%
    60-80% 124 $70,170,000 $565,887 $9,307 6.80%
    80-100% 193 $97,515,000 $505,259 $10,715 6.84%
    Over 100% 6 $3,100,000 $516,667 $25,682 6.71%
    Under 20% 13 $1,275,000 $98,077 $4,353 3.90%