Patelco Mortgage Rates, Fees & Info

Pleasanton, CA

LEI: 549300EM6UG8HE3P8U74

Tax ID: 94-0755684

5 stars - Updated: 12/16/24 - out of 5 stars, based on 49 reviews

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

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  • 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

    Patelco is a smaller mortgage company specializing in Home Improvement and Home Purchase loans. Patelco has a high proportion of conventional loans. Their top markets by origination volume include: San Francisco, San Jose, Sacramento, Stockton, and Los Angeles among others. We have data for 30 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Patelco has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Patelco 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 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
    Home Equity Line of Credit (HELOC) 6.86% 12/16/24
    30 Year Conventional Purchase 6.09% 12/16/24
    30 Year Conventional Refi 6.24% 12/16/24
    30 Year Cash-out Refi 6.48% 12/16/24
    15 Year Conventional Purchase 5.98% 12/16/24
    15 Year Conventional Refi 5.88% 12/16/24
    15 Year Cash-out Refi 5.88% 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.

    Patelco Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Patelco. 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

    2,362

    Origination Dollar Volume (All Markets)

    $666,670,000
    Show all (6) awards

    Relative Rate

    Patelco's average 30 year fixed mortgage rate was 6.28%.

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

    This yields a difference of -0.2%.

    Relative Fees (Closing Costs)

    Patelco's average total fees/closing costs for a 30 year fixed rate mortgage were $7,204.

    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
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1,267 $406,545,000 $320,872 $3,827 7.99%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 187 $105,435,000 $563,824 $3,218 7.47%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 383 $53,815,000 $140,509 $1,124 8.23%
    STOCKTON, CA (FHA|USDA|VA) 116 $26,980,000 $232,586 $2,484 8.11%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 46 $13,790,000 $299,783 $2,606 8.35%
    SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 73 $13,135,000 $179,932 $2,147 8.07%
    VALLEJO, CA (FHA|USDA|VA) 98 $11,970,000 $122,143 $1,036 8.07%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 21 $4,635,000 $220,714 $2,584 8.78%
    SALINAS, CA (FHA|USDA|VA) 7 $3,635,000 $519,286 $3,195 7.50%
    MODESTO, CA (FHA|USDA|VA) 30 $3,130,000 $104,333 $425 8.19%
    Outside of Metro Areas 17 $2,625,000 $154,412 $1,593 8.17%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 14 $2,620,000 $187,143 $2,491 8.13%
    SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 11 $2,195,000 $199,545 $1,328 7.81%
    Truckee-Grass Valley, CA (FHA|USDA|VA) 15 $2,135,000 $142,333 $1,607 8.27%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 10 $2,090,000 $209,000 $3,660 7.87%
    FRESNO, CA (FHA|USDA|VA) 8 $1,990,000 $248,750 $3,580 8.39%
    CHICO, CA (FHA|USDA|VA) 5 $1,915,000 $383,000 $17,364 7.63%
    Ukiah, CA (FHA|USDA|VA) 4 $1,770,000 $442,500 $6,235 6.94%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 5 $855,000 $171,000 $3,200 8.45%
    Clearlake, CA (FHA|USDA|VA) 5 $855,000 $171,000 $2,690 7.02%
    MERCED, CA (FHA|USDA|VA) 10 $830,000 $83,000 $757 7.77%
    REDDING, CA (FHA|USDA|VA) 6 $780,000 $130,000 $935 8.21%
    Sonora, CA (FHA|USDA|VA) 4 $760,000 $190,000 $3,166 7.19%
    NAPA, CA (FHA|USDA|VA) 6 $630,000 $105,000 $0 7.66%
    MADERA, CA (FHA|USDA|VA) 3 $605,000 $201,667 $3,701 8.25%
    YUBA CITY, CA (FHA|USDA|VA) 5 $535,000 $107,000 $2,022 8.35%
    SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 2 $230,000 $115,000 $0 8.75%
    BAKERSFIELD, CA (FHA|USDA|VA) 2 $100,000 $50,000 $38 6.99%
    Eureka-Arcata, CA (FHA|USDA|VA) 1 $55,000 $55,000 $0 7.49%
    HANFORD-CORCORAN, CA (FHA|USDA|VA) 1 $25,000 $25,000 $0 7.49%
    Patelco's top markets include San Francisco, San Jose, Sacramento, Stockton, and Los Angeles among others.

    Their top states include:
  • California (FHA|USDA|VA)

    • Similar Lenders

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

    Los Angeles Federal Credit Union
    Similarity Rank: 72
    MISSION
    Similarity Rank: 93
    Valley First Credit Union
    Similarity Rank: 110
    El Dorado Savings Bank, F.S.B.
    Similarity Rank: 126
    LBS FINANCIAL
    Similarity Rank: 258
    Water and Power Community Credit Union
    Similarity Rank: 261
    SAN DIEGO COUNTY CREDIT UNION
    Similarity Rank: 312
    BAY
    Similarity Rank: 315
    SOUTHLAND CREDIT UNION
    Similarity Rank: 342
    FIRST ENTERTAINMENT
    Similarity Rank: 351

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 1,239 $201,855,000 $162,918 n/a 8.83%
    Conventional 1,123 $464,815,000 $413,905 $2,880 7.11%

    For 2023, Patelco's most frequently originated type of loan was HELOC, with 1,239 originations. Their 2nd most popular type was Conventional, with 1,123 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 954 $135,990,000 $142,547 $176 8.41%
    Other 860 $116,110,000 $135,012 $201 8.35%
    Home Purchase 492 $399,760,000 $812,520 $7,215 6.66%
    Refi 35 $9,045,000 $258,429 $1,378 7.97%
    Cash Out Refi 21 $5,765,000 $274,524 $1,731 7.53%

    For 2023, Patelco's most frequently cited loan purpose was Home Improvement, with 954 originations. The 2nd most popular reason was Other, with 860 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 1,280 $204,290,000 $159,602 $17 8.78%
    30 Year 435 $395,825,000 $909,943 $7,204 6.28%
    20 Year 252 $31,310,000 $124,246 $189 8.13%
    10 Year 209 $15,245,000 $72,943 $55 7.12%
    15 Year 186 $20,000,000 $107,527 $288 7.65%

    For 2023, Patelco's most frequently cited loan duration was Other, with 1,280 originations. The 2nd most popular length was 30 Year, with 435 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,048 $416,680,000 $397,595
    $1k-2k 27 $9,855,000 $365,000
    $2k-3k 24 $19,130,000 $797,083
    $5k+ 11 $9,815,000 $892,273
    $3k-4k 6 $5,200,000 $866,667
    $4k-5k 5 $3,655,000 $731,000

    Patelco's average total fees were $7,204, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,048 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 1,235 $196,385,000 $159,016
    7-8% 566 $103,960,000 $183,675
    6-7% 366 $163,160,000 $445,792
    5-6% 194 $201,960,000 $1,041,031
    4-5% 1 $1,205,000 $1,205,000

    During 2023, Patelco's average interest rate for loans was 6.28%, while their most frequently originated rate bucket for loans was Over 8%, with 1,235 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 829 $48,195,000 $58,136 $67 8.23%
    $100k-200k 605 $80,225,000 $132,603 $374 8.48%
    $200k-400k 476 $123,760,000 $260,000 $2,837 8.37%
    $1MM+ 195 $250,765,000 $1,285,974 $8,115 6.05%
    $600k-1MM 129 $104,185,000 $807,636 $7,089 6.16%
    $400k-600k 128 $59,540,000 $465,156 $5,629 7.86%

    2023 saw Patelco place emphasis on $100,000 or less loans with 829 originations, totaling $48,195,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 823 $193,125,000 $234,660 $2,590 8.12%
    $250k+ 705 $388,755,000 $551,426 $5,720 7.72%
    $100k-150k 507 $59,205,000 $116,775 $970 8.23%
    $75k-100k 183 $15,605,000 $85,273 $571 8.01%
    $50k-75k 122 $8,730,000 $71,557 $716 7.94%
    $50k or less 22 $1,250,000 $56,818 $40 8.30%

    Patelco lent most frequently to those with incomes in the $150k-250k range, with 823 originations. The second most popular income band? $250k+, with 705 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 422 $125,940,000 $298,436 $2,990 7.95%
    44% 357 $79,945,000 $223,936 $2,118 8.27%
    20-30% 285 $71,625,000 $251,316 $2,743 7.88%
    43% 190 $50,420,000 $265,368 $2,295 8.15%
    41% 165 $55,385,000 $335,667 $3,164 7.89%
    42% 160 $52,560,000 $328,500 $3,568 8.04%
    38% 133 $47,425,000 $356,579 $3,628 7.89%
    39% 128 $29,760,000 $232,500 $1,927 8.25%
    40% 114 $43,460,000 $381,228 $3,343 7.68%
    36% 99 $28,775,000 $290,657 $2,956 7.99%
    37% 93 $32,015,000 $344,247 $3,473 7.85%
    <20% 57 $11,095,000 $194,649 $3,262 7.83%
    45% 38 $8,590,000 $226,053 $2,293 8.06%
    47% 32 $6,430,000 $200,938 $1,974 8.33%
    49% 26 $10,740,000 $413,077 $5,992 7.51%
    50-60% 24 $2,760,000 $115,000 $128 8.43%
    46% 22 $6,040,000 $274,545 $3,175 8.08%
    48% 16 $3,560,000 $222,500 $2,864 7.97%
    >60% 1 $145,000 $145,000 $0 8.25%

    Patelco lent most frequently to those with DTI ratios of 30-36%, with 422 originations. The next most common DTI ratio? 44%, with 357 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Asian 472 $221,980,000 $470,297 $4,549 7.70%
    White 1,051 $200,385,000 $190,661 $1,562 8.18%
    Not provided 532 $145,030,000 $272,613 $3,065 8.00%
    Asian Indian 74 $62,380,000 $842,973 $7,250 6.94%
    Black 118 $18,290,000 $155,000 $1,514 8.26%
    Filipino 33 $5,455,000 $165,303 $1,513 8.12%
    American Indian 34 $4,500,000 $132,353 $917 8.25%
    Native Hawaiian or Islander 22 $2,810,000 $127,727 $614 8.20%
    Chinese 8 $1,730,000 $216,250 $7,648 8.45%
    Other Asian 6 $1,290,000 $215,000 $1,686 7.81%
    Vietnamese 1 $1,205,000 $1,205,000 $3,834 6.25%
    Native Hawaiian 1 $585,000 $585,000 $12,197 6.25%
    Other Pacific Islander 5 $465,000 $93,000 $0 8.00%
    Japanese 2 $220,000 $110,000 $0 8.25%
    Korean 1 $215,000 $215,000 $0 7.99%
    Samoan 1 $75,000 $75,000 $0 7.99%
    Guamanian 1 $55,000 $55,000 $0 11.00%

    Approval Rates

    Total approvals of all applications
    70.26%

    Patelco has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    78.49%

    Patelco has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,362 $666,670,000 $282,248

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,362 $666,670,000 $282,248

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 387 $93,075,000 $240,504 $1,155 8.52%
    40-60% 48 $25,570,000 $532,708 $6,289 7.28%
    60-80% 147 $127,265,000 $865,748 $7,753 6.42%
    80-100% 247 $246,955,000 $999,818 $7,141 6.19%
    Under 20% 1,533 $173,805,000 $113,376 $130 8.35%