Patriot Mortgage Company Rates, Fees & Info
EL PASO, TXLEI: 549300GZJ5RFM7VED177
Tax ID: 74-2884353
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
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% | 4/28/24 |
| 30 Year Conventional Refi | 6.89% | 4/28/24 |
| 30 Year Cash-out Refi | 6.27% | 4/28/24 |
| 30 Year FHA Purchase | 7.69% | 4/28/24 |
| 30 Year VA Purchase | 6.27% | 4/28/24 |
| 15 Year Conventional Purchase | 6.06% | 4/28/24 |
| 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
192Origination Dollar Volume (All Markets)
$33,850,000Awards
PATRIOT MORTGAGE COMPANY - 2018
PATRIOT MORTGAGE COMPANY is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
Work for PATRIOT MORTGAGE COMPANY?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
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% |
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.
Similarity Rank: 48
Similarity Rank: 92
Similarity Rank: 242
Similarity Rank: 294
Similarity Rank: 296
Similarity Rank: 385
Similarity Rank: 832
Similarity Rank: 858
Similarity Rank: 1029
Similarity Rank: 1050
Product Mix
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
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
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
2018 saw Patriot Mortgage Company place emphasis on $100k-200k loans with 140 originations, totaling $22,210,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications95.13%
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 origination88.54%
Patriot Mortgage Company has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 192 | $33,850,000 | $176,302 |