Patriot Mortgage Company Rates, Fees & Info

EL PASO, TX

LEI: 549300GZJ5RFM7VED177

Tax ID: 74-2884353

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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

    Patriot Mortgage Company is a smaller mortgage company specializing in Home Purchase loans. They have a a high proportion of FHA loans. Patriot Mortgage Company has an average proportion of conventional loans. Their top two markets are El Paso and Houston .

    Patriot Mortgage Company 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. Patriot Mortgage Company 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 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 6.62% 11/21/24
    30 Year Conventional Refi 6.89% 11/21/24
    30 Year Cash-out Refi 6.27% 11/21/24
    30 Year FHA Purchase 7.69% 11/21/24
    30 Year VA Purchase 6.27% 11/21/24
    15 Year Conventional Purchase 6.06% 11/21/24
    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.

    Patriot Mortgage Company Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Patriot Mortgage Company. 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

    192

    Origination Dollar Volume (All Markets)

    $33,850,000

    Awards

    PATRIOT MORTGAGE COMPANY USDA Loans gold PATRIOT MORTGAGE COMPANY VA Loans bronze PATRIOT MORTGAGE COMPANY 30 Year Conventional Loans bronze PATRIOT MORTGAGE COMPANY USDA Loans gold
    Show all (4) awards

    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
    EL PASO, TX (FHA|USDA|VA) 191 $33,605,000 $175,942 $8,608 4.74%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $245,000 $245,000 $12,329 5.00%
    Patriot Mortgage Company's top markets include El Paso and Houston among others.

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

    • Similar Lenders

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

    EVOLVE
    Similarity Rank: 48
    GECU
    Similarity Rank: 92
    PATRIOT MORTGAGE COMPANY
    Similarity Rank: 242
    Citizens Bank of Las Cruces
    Similarity Rank: 294
    FirstLight Federal Credit Union
    Similarity Rank: 296
    Rocky Mountain Mortgage Company
    Similarity Rank: 385
    SECURITY SERVICE
    Similarity Rank: 832
    LEGACY MORTGAGE LLC
    Similarity Rank: 858
    Stifel Bank and Trust
    Similarity Rank: 1029
    Town Square Mortgage & Investments, Inc.
    Similarity Rank: 1050

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    FHA 105 $17,985,000 $171,286 $10,024 4.88%
    VA 39 $7,865,000 $201,667 $5,094 4.51%
    Conventional 24 $4,420,000 $184,167 $7,014 4.79%
    USDA 24 $3,580,000 $149,167 $9,868 4.52%

    For 2018, Patriot Mortgage Company's most frequently originated type of loan was FHA, with 105 originations. Their 2nd most popular type was VA, with 39 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 191 $33,715,000 $176,518 $8,644 4.74%
    Refi 1 $135,000 $135,000 $5,311 5.13%

    For 2018, Patriot Mortgage Company's most frequently cited loan purpose was Home Purchase, with 191 originations. The 2nd most popular reason was Refi, with 1 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 188 $33,060,000 $175,851 $8,684 4.76%
    15 Year 3 $565,000 $188,333 $5,573 4.04%
    20 Year 1 $225,000 $225,000 $7,026 4.88%

    For 2018, Patriot Mortgage Company's most frequently cited loan duration was 30 Year, with 188 originations. The 2nd most popular length was 15 Year, with 3 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 75 $14,305,000 $190,733
    $<1k 40 $7,690,000 $192,250
    $3k-4k 24 $3,690,000 $153,750
    $1k-2k 20 $2,770,000 $138,500
    $4k-5k 19 $3,225,000 $169,737
    $2k-3k 14 $2,170,000 $155,000

    Patriot Mortgage Company's average total fees were $8,684, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 75 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 126 $23,080,000 $183,175
    5-6% 44 $6,990,000 $158,864
    3-4% 20 $3,570,000 $178,500
    6-7% 2 $210,000 $105,000

    During 2018, Patriot Mortgage Company's average interest rate for loans was 4.76%, while their most frequently originated rate bucket for loans was 4-5%, with 126 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 140 $22,210,000 $158,643 $8,320 4.73%
    $200k-400k 46 $11,120,000 $241,739 $10,122 4.73%
    $100,000 or less 6 $520,000 $86,667 $4,328 5.19%

    2018 saw Patriot Mortgage Company place emphasis on $100k-200k loans with 140 originations, totaling $22,210,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 73 $12,545,000 $171,849 $9,065 4.70%
    $50k or less 51 $7,265,000 $142,451 $7,303 4.84%
    $75k-100k 35 $6,535,000 $186,714 $9,901 4.73%
    $100k-150k 29 $6,205,000 $213,966 $8,466 4.75%
    $150k-250k 4 $1,300,000 $325,000 $7,528 4.50%

    Patriot Mortgage Company lent most frequently to those with incomes in the $50k-75k range, with 73 originations. The second most popular income band? $50k or less, with 51 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 83 $14,365,000 $173,072 $8,966 4.77%
    <20% 80 $14,880,000 $186,000 $8,509 4.66%
    30-36% 18 $2,930,000 $162,778 $8,000 4.78%
    41% 2 $300,000 $150,000 $6,903 5.31%
    40% 2 $350,000 $175,000 $11,132 4.94%
    36% 2 $230,000 $115,000 $6,946 4.88%
    39% 2 $290,000 $145,000 $6,485 5.81%
    44% 1 $185,000 $185,000 $12,929 4.75%
    49% 1 $165,000 $165,000 $4,408 4.38%
    >60% 1 $155,000 $155,000 $7,182 5.75%

    Patriot Mortgage Company lent most frequently to those with DTI ratios of 20-30%, with 83 originations. The next most common DTI ratio? <20%, with 80 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 173 $30,265,000 $174,942 $8,806 4.75%
    Black 13 $2,575,000 $198,077 $7,155 4.76%
    Asian 4 $620,000 $155,000 $6,240 4.53%
    Native Hawaiian or Islander 1 $195,000 $195,000 $1,529 5.00%
    Not provided 1 $195,000 $195,000 $13,449 4.50%

    Approval Rates

    Total approvals of all applications
    95.13%

    Patriot Mortgage Company 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
    88.54%

    Patriot Mortgage Company has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 192 $33,850,000 $176,302

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 192 $33,850,000 $176,302

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    60-80% 8 $1,200,000 $150,000 $5,783 4.78%
    80-100% 168 $29,530,000 $175,774 $8,934 4.77%
    Over 100% 16 $3,120,000 $195,000 $6,822 4.48%