Patelco Mortgage Rates, Fees & Info

Pleasanton, CA

LEI: 549300EM6UG8HE3P8U74

Tax ID: 94-0755684

5 stars - out of 5 stars, based on 81 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Patelco is a small mortgage company specializing in Other and Home Purchase loans. Patelco has a high proportion of conventional loans. Their top markets include San Francisco, San Jose, Sacramento, Stockton, and Santa Rosa among others. Patelco has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Patelco is typically an average fee lendor.


Originations

6,641

Origination Dollar Volume (All Markets)

$2,232,875,000

Awards

PATELCO 30 Year Conventional Loans bronze PATELCO 30 Year Conventional Loans silver PATELCO 30 Year Conventional Loans bronze PATELCO 30 Year Conventional Loans gold
Show all (4) awards

Relative Rate

Patelco's average 30 year fixed rate mortgage of loans were 3.06%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.09%.

Relative Fees

Patelco's average total fees for a 30 year fixed rate mortgage are $4,289.

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

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 3,908 $1,441,230,000 $368,790 $3,642 3.45%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 531 $262,785,000 $494,887 $3,249 3.40%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1,004 $208,240,000 $207,410 $2,094 3.64%
STOCKTON, CA (FHA|USDA|VA) 227 $60,975,000 $268,612 $3,644 3.64%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 207 $56,885,000 $274,807 $3,000 3.49%
VALLEJO, CA (FHA|USDA|VA) 254 $53,210,000 $209,488 $2,236 3.59%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 96 $36,120,000 $376,250 $3,843 3.63%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 45 $20,255,000 $450,111 $4,400 3.38%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 26 $12,640,000 $486,154 $4,341 3.49%
SALINAS, CA (FHA|USDA|VA) 26 $11,360,000 $436,923 $3,515 3.14%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 37 $9,685,000 $261,757 $3,236 3.66%
Outside of Metro Areas 37 $7,195,000 $194,459 $2,784 3.40%
MODESTO, CA (FHA|USDA|VA) 46 $7,160,000 $155,652 $1,861 4.04%
NAPA, CA (FHA|USDA|VA) 25 $6,595,000 $263,800 $2,333 3.51%
Truckee-Grass Valley, CA (FHA|USDA|VA) 24 $6,550,000 $272,917 $3,301 3.71%
MERCED, CA (FHA|USDA|VA) 24 $3,980,000 $165,833 $2,379 3.75%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 11 $3,375,000 $306,818 $6,163 3.68%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 6 $3,140,000 $523,333 $3,697 3.33%
YUBA CITY, CA (FHA|USDA|VA) 17 $3,015,000 $177,353 $2,016 3.52%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 6 $2,650,000 $441,667 $4,757 3.28%
Clearlake, CA (FHA|USDA|VA) 13 $2,515,000 $193,462 $3,212 3.40%
Ukiah, CA (FHA|USDA|VA) 10 $2,500,000 $250,000 $3,295 3.32%
CHICO, CA (FHA|USDA|VA) 11 $2,455,000 $223,182 $2,367 3.27%
FRESNO, CA (FHA|USDA|VA) 11 $1,965,000 $178,636 $2,264 3.18%
Sonora, CA (FHA|USDA|VA) 10 $1,720,000 $172,000 $3,222 3.03%
REDDING, CA (FHA|USDA|VA) 10 $1,330,000 $133,000 $1,816 3.48%
Red Bluff, CA (FHA|USDA|VA) 5 $965,000 $193,000 $1,946 3.83%
MADERA, CA (FHA|USDA|VA) 5 $785,000 $157,000 $2,054 3.30%
BAKERSFIELD, CA (FHA|USDA|VA) 3 $685,000 $228,333 $4,201 3.29%
Eureka-Arcata, CA (FHA|USDA|VA) 4 $530,000 $132,500 $2,155 3.56%
VISALIA, CA (FHA|USDA|VA) 1 $315,000 $315,000 $3,873 3.50%
HANFORD-CORCORAN, CA (FHA|USDA|VA) 1 $65,000 $65,000 $2,446 3.13%

Patelco's top markets include San Francisco, San Jose, Sacramento, Stockton, and Santa Rosa among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 6,641 $2,232,875,000 $336,226 $3,249 3.50%

For the 2021 period, Patelco's most frequently originated loan type of loans were Conventional, with 6,641 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Other 2,329 $564,825,000 $242,518 $1,890 3.63%
Home Improvement 1,819 $313,475,000 $172,334 $1,232 3.86%
Home Purchase 1,032 $695,160,000 $673,605 $7,025 3.29%
Refi 839 $399,105,000 $475,691 $2,470 2.95%
Cash Out Refi 622 $260,310,000 $418,505 $2,525 3.02%

For the 2021, Patelco's most frequently cited loan purpose of loans were Other, with 2,329 originations. The 2nd most popular reason of loans were Home Improvement, with 1,819 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 3,191 $510,795,000 $160,074 $0 3.96%
30 Year 2,202 $1,436,770,000 $652,484 $4,289 3.06%
15 Year 636 $172,300,000 $270,912 $1,822 2.76%
20 Year 354 $79,130,000 $223,531 $1,297 3.53%
10 Year 258 $33,880,000 $131,318 $909 3.21%

For the 2021, Patelco's most frequently cited loan length of loans were Other, with 3,191 originations. The 2nd most popular length of loans were 30 Year, with 2,202 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 3,068 $1,444,710,000 $470,896
$1k-2k 110 $59,710,000 $542,818
$3k-4k 108 $68,640,000 $635,556
$5k+ 105 $88,935,000 $847,000
$2k-3k 83 $60,835,000 $732,952

$4,289 of loans were Patelco's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 3,068 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 3,423 $913,335,000 $266,823
2.5-3% 1,389 $896,295,000 $645,281
4-5% 975 $142,495,000 $146,149
<2.5% 604 $251,960,000 $417,152
5-6% 210 $23,970,000 $114,143
6-7% 39 $4,785,000 $122,692
7-8% 1 $35,000 $35,000

During 2021, Patelco's average interest rate of loans were 3.06%, while their most frequently originated rate bucket of loans were 3-4%, with 3,423 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 1,982 $537,780,000 $271,332 $2,309 3.37%
$100k-200k 1,492 $205,460,000 $137,708 $1,627 3.76%
$100,000 or less 1,311 $76,275,000 $58,181 $341 4.05%
$400k-600k 764 $375,190,000 $491,086 $3,461 3.15%
$600k-1MM 726 $557,760,000 $768,264 $4,704 2.97%
$1MM+ 366 $480,410,000 $1,312,596 $7,208 2.86%

2021 saw Patelco place emphasis on $200k-400k loans with 1,982 originations, totaling $537,780,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$150k-250k 2,386 $828,640,000 $347,293 $3,448 3.54%
$100k-150k 1,572 $372,210,000 $236,775 $2,501 3.55%
$250k+ 1,417 $785,795,000 $554,548 $5,066 3.53%
$75k-100k 655 $137,955,000 $210,618 $2,383 3.40%
$50k-75k 435 $80,485,000 $185,023 $2,190 3.26%
$50k or less 175 $26,445,000 $151,114 $2,139 3.13%

Patelco lent most frequently to those with incomes in the $150k-250k range, with 2,386 originations. The second most popular income band? $100k-150k, with 1,572 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 1,500 $516,920,000 $344,613 $3,117 3.34%
30-36% 1,464 $532,870,000 $363,982 $3,585 3.51%
44% 417 $124,265,000 $297,998 $3,025 3.78%
<20% 381 $118,765,000 $311,719 $2,631 3.13%
39% 353 $128,235,000 $363,272 $3,535 3.59%
41% 321 $98,285,000 $306,184 $2,802 3.65%
43% 313 $93,055,000 $297,300 $3,328 3.67%
42% 311 $91,405,000 $293,907 $3,510 3.71%
40% 290 $92,440,000 $318,759 $3,219 3.54%
38% 280 $100,350,000 $358,393 $3,991 3.64%
36% 276 $95,220,000 $345,000 $3,715 3.64%
37% 252 $90,850,000 $360,516 $3,468 3.58%
45% 100 $32,800,000 $328,000 $2,920 3.38%
46% 96 $32,350,000 $336,979 $2,769 3.23%
49% 87 $27,515,000 $316,264 $3,036 3.16%
47% 82 $24,790,000 $302,317 $2,470 3.37%
48% 77 $23,665,000 $307,338 $2,796 3.21%
50-60% 31 $7,455,000 $240,484 $3,814 4.06%
>60% 4 $600,000 $150,000 $0 3.44%

Patelco lent most frequently to those with DTI ratios of 20-30%, with 1,500 originations. The next most common DTI ratio? 30-36%, with 1,464 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 2,795 $843,795,000 $301,894 $2,903 3.53%
Not provided 2,054 $716,730,000 $348,944 $3,199 3.44%
Asian 1,096 $437,950,000 $399,589 $4,161 3.50%
Asian Indian 156 $83,710,000 $536,603 $5,091 3.46%
Black 284 $78,250,000 $275,528 $2,885 3.57%
Filipino 102 $29,160,000 $285,882 $2,487 3.44%
American Indian 49 $12,795,000 $261,122 $3,779 3.56%
Other Asian 21 $8,975,000 $427,381 $4,658 3.63%
Chinese 29 $8,175,000 $281,897 $1,985 3.43%
Native Hawaiian 24 $4,870,000 $202,917 $2,668 3.74%
Other Pacific Islander 15 $3,495,000 $233,000 $3,145 3.72%
Vietnamese 9 $2,875,000 $319,444 $2,464 4.01%
Japanese 4 $1,610,000 $402,500 $3,650 3.00%
Native Hawiian 2 $260,000 $130,000 $2,011 2.88%
Guamanian 1 $225,000 $225,000 $1,815 2.38%

Approval Rates

Total approvals of all applications
84.99%

Patelco has a below average approval rate.

Pick Rate

Approvals leading to origination
76.61%

Patelco has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 6,641 $2,232,875,000 $336,226

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
6,641 $2,232,875,000 $336,226

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 1,360 $383,130,000 $281,713 $2,357 3.41%
40-60% 959 $476,075,000 $496,429 $2,895 2.95%
60-80% 908 $652,130,000 $718,205 $4,419 3.05%
80-100% 401 $333,075,000 $830,611 $6,670 3.04%
Over 100% 1 $885,000 $885,000 $11,588 2.88%
Under 20% 3,007 $385,725,000 $128,276 $727 3.90%