Penrith Home Loans Mortgage Rates, Fees & Info

WILMINGTON, DE

LEI: 5493008GYZEYGLI3NQ97

Tax ID: 47-0933090

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Mortgage Data

Review & Overview

Penrith Home Loans is a smaller mortgage company specializing in Home Purchase and Refi loans. Penrith Home Loans 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: Seattle, Portland, Spokane, Bremerton, and Oak Harbor among others. We have data for 22 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 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 6.52% 3/27/24
30 Year Conventional Refi 6.74% 3/27/24
30 Year Cash-out Refi 6.78% 3/27/24
30 Year FHA Purchase 7.51% 3/27/24
30 Year VA Purchase 6.00% 3/27/24
15 Year Conventional Purchase 6.16% 3/27/24
15 Year Conventional Refi 6.29% 3/27/24
15 Year Cash-out Refi 6.29% 3/27/24
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

1,552

Origination Dollar Volume (All Markets)

$686,490,000

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) 916 $475,990,000 $519,640 $6,348 3.00%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 191 $67,885,000 $355,419 $5,121 3.00%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 217 $59,515,000 $274,263 $5,153 2.90%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 98 $37,320,000 $380,816 $5,663 3.06%
Oak Harbor, WA (FHA|USDA|VA) 17 $8,375,000 $492,647 $6,430 3.06%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 17 $5,555,000 $326,765 $4,562 2.92%
Outside of Metro Areas 18 $5,190,000 $288,333 $4,579 2.92%
WENATCHEE, WA (FHA|USDA|VA) 15 $4,325,000 $288,333 $5,696 3.27%
MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 12 $3,830,000 $319,167 $3,910 2.73%
Shelton, WA (FHA|USDA|VA) 7 $2,665,000 $380,714 $6,079 3.27%
LONGVIEW, WA (FHA|USDA|VA) 5 $2,345,000 $469,000 $5,104 3.05%
Ellensburg, WA (FHA|USDA|VA) 4 $2,260,000 $565,000 $6,058 3.16%
Moses Lake, WA (FHA|USDA|VA) 7 $2,125,000 $303,571 $5,877 3.13%
BEND, OR (FHA|USDA|VA) 5 $1,975,000 $395,000 $5,273 3.10%
BELLINGHAM, WA (FHA|USDA|VA) 4 $1,640,000 $410,000 $6,172 3.00%
Aberdeen, WA (FHA|USDA|VA) 5 $1,395,000 $279,000 $5,287 2.90%
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 3 $1,305,000 $435,000 $4,849 2.92%
Port Angeles, WA (FHA|USDA|VA) 5 $1,085,000 $217,000 $5,702 3.13%
SALEM, OR (FHA|USDA|VA) 2 $710,000 $355,000 $8,535 2.88%
Centralia, WA (FHA|USDA|VA) 2 $570,000 $285,000 $3,079 2.88%
EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 1 $285,000 $285,000 $4,431 2.63%
Pullman, WA (FHA|USDA|VA) 1 $145,000 $145,000 $3,010 2.88%
Penrith Home Loans's top markets include Seattle, Portland, Spokane, Bremerton, and Oak Harbor among others.

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

    SPOKANE FIREFIGHTERS CREDIT UNION
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,399 $619,225,000 $442,620 $5,428 3.00%
    VA 85 $41,515,000 $488,412 $9,160 2.70%
    FHA 68 $25,750,000 $378,676 $11,394 3.11%

    For 2021, Penrith Home Loans's most frequently originated type of loan was Conventional, with 1,399 originations. Their 2nd most popular type was VA, with 85 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 916 $443,600,000 $484,279 $6,351 3.00%
    Refi 370 $139,610,000 $377,324 $4,695 2.88%
    Cash Out Refi 251 $97,515,000 $388,506 $6,080 3.11%
    Other 13 $5,105,000 $392,692 $5,609 3.36%
    Home Improvement 2 $660,000 $330,000 $4,480 2.69%

    For 2021, Penrith Home Loans's most frequently cited loan purpose was Home Purchase, with 916 originations. The 2nd most popular reason was Refi, with 370 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,348 $631,170,000 $468,227 $6,220 3.11%
    15 Year 120 $36,270,000 $302,250 $4,378 2.47%
    20 Year 48 $17,370,000 $361,875 $4,546 2.76%
    Other 34 $1,400,000 $41,176 $643 0.46%
    10 Year 2 $280,000 $140,000 $3,134 2.25%

    For 2021, Penrith Home Loans's most frequently cited loan duration was 30 Year, with 1,348 originations. The 2nd most popular length was 15 Year, with 120 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 642 $287,470,000 $447,773
    $5k+ 248 $154,630,000 $623,508
    $2k-3k 228 $88,370,000 $387,588
    $3k-4k 177 $70,165,000 $396,412
    $4k-5k 120 $52,810,000 $440,083
    $<1k 111 $25,135,000 $226,441

    Penrith Home Loans's average total fees were $6,220, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 642 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 719 $322,345,000 $448,324
    2.5-3% 637 $301,395,000 $473,148
    <2.5% 177 $56,675,000 $320,198
    4-5% 19 $6,075,000 $319,737

    During 2021, Penrith Home Loans's average interest rate for loans was 3.11%, while their most frequently originated rate bucket for loans was 3-4%, with 719 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 588 $178,350,000 $303,316 $5,291 3.07%
    $400k-600k 461 $225,285,000 $488,688 $6,443 3.07%
    $600k-1MM 265 $193,515,000 $730,245 $7,648 3.03%
    $100k-200k 155 $24,995,000 $161,258 $3,581 2.95%
    $1MM+ 46 $63,380,000 $1,377,826 $9,771 3.01%
    $100,000 or less 37 $965,000 $26,081 $785 0.62%

    2021 saw Penrith Home Loans place emphasis on $200k-400k loans with 588 originations, totaling $178,350,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 419 $181,685,000 $433,616 $5,855 2.97%
    $150k-250k 331 $193,485,000 $584,547 $6,535 2.99%
    $75k-100k 292 $104,580,000 $358,151 $5,637 3.01%
    $50k-75k 291 $80,655,000 $277,165 $5,131 2.98%
    $250k+ 136 $109,560,000 $805,588 $8,082 3.09%
    $50k or less 76 $13,650,000 $179,605 $3,875 2.92%

    Penrith Home Loans lent most frequently to those with incomes in the $100k-150k range, with 419 originations. The second most popular income band? $150k-250k, with 331 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 299 $129,025,000 $431,522 $5,716 2.95%
    30-36% 286 $141,010,000 $493,042 $5,604 3.02%
    <20% 89 $32,455,000 $364,663 $4,930 2.89%
    41% 88 $43,150,000 $490,341 $6,031 3.09%
    44% 80 $33,810,000 $422,625 $6,954 3.12%
    42% 79 $33,755,000 $427,278 $5,627 2.90%
    43% 77 $29,455,000 $382,532 $5,819 3.09%
    49% 67 $28,445,000 $424,552 $6,505 3.03%
    37% 63 $29,365,000 $466,111 $6,120 3.03%
    39% 62 $27,590,000 $445,000 $6,182 3.05%
    40% 59 $24,775,000 $419,915 $5,425 2.87%
    36% 53 $22,535,000 $425,189 $6,811 2.98%
    45% 52 $21,520,000 $413,846 $6,276 2.88%
    47% 50 $21,580,000 $431,600 $5,417 3.07%
    48% 48 $21,340,000 $444,583 $6,413 3.00%
    38% 47 $24,125,000 $513,298 $5,534 2.89%
    46% 46 $20,190,000 $438,913 $7,224 3.06%
    50-60% 5 $2,135,000 $427,000 $10,460 3.00%
    >60% 1 $15,000 $15,000 $333 0.00%

    Penrith Home Loans lent most frequently to those with DTI ratios of 20-30%, with 299 originations. The next most common DTI ratio? 30-36%, with 286 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,157 $493,965,000 $426,936 $5,787 3.00%
    Not provided 248 $120,660,000 $486,532 $6,369 2.97%
    Asian 106 $55,250,000 $521,226 $6,070 2.99%
    Black 21 $8,685,000 $413,571 $5,608 3.08%
    American Indian 16 $6,490,000 $405,625 $6,029 2.88%
    Native Hawaiian or Islander 3 $1,295,000 $431,667 $9,717 2.92%
    Asian Indian 1 $145,000 $145,000 $3,421 2.75%

    Approval Rates

    Total approvals of all applications
    95.87%

    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
    83.76%

    Penrith Home Loans has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,552 $686,490,000 $442,326

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,552 $686,490,000 $442,326

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 137 $37,025,000 $270,255 $4,125 2.89%
    40-60% 318 $125,480,000 $394,591 $4,998 2.93%
    60-80% 518 $257,370,000 $496,853 $6,110 3.11%
    80-100% 523 $257,945,000 $493,203 $6,854 3.12%
    Over 100% 9 $4,815,000 $535,000 $18,853 2.93%
    Under 20% 47 $3,855,000 $82,021 $1,463 1.06%