Patriot Mortgage Rates, Fees & Info

Chambersburg, PA

LEI: 549300IWSSP83SNIPE63

Tax ID: 25-1150379

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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 is a smaller mortgage company specializing in Home Purchase and Refi loans. Patriot has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Chambersburg, Hagerstown, Harrisburg, Washington, and York among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Patriot 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. Patriot is typically a low 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% 12/16/24
    30 Year Conventional Refi 6.47% 12/16/24
    30 Year Cash-out Refi 6.60% 12/16/24
    30 Year FHA Purchase 6.58% 12/16/24
    30 Year VA Purchase 5.46% 12/16/24
    30 Year VA Refi 5.81% 12/16/24
    30 Year USDA Purchase 5.90% 12/16/24
    15 Year Conventional Purchase 6.12% 12/16/24
    15 Year Conventional Refi 6.32% 12/16/24
    15 Year Cash-out Refi 6.32% 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.

    Patriot Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Patriot. 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

    723

    Origination Dollar Volume (All Markets)

    $82,335,000
    Show all (12) 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
    CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 495 $57,145,000 $115,444 $2,141 4.28%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 116 $12,190,000 $105,086 $1,599 4.44%
    Outside of Metro Areas 70 $5,010,000 $71,571 $593 4.75%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 21 $3,785,000 $180,238 $4,507 3.93%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 7 $1,585,000 $226,429 $4,226 3.57%
    YORK-HANOVER, PA (FHA|USDA|VA) 4 $700,000 $175,000 $3,299 4.22%
    GETTYSBURG, PA (FHA|USDA|VA) 3 $655,000 $218,333 $3,779 3.71%
    PITTSBURGH, PA (FHA|USDA|VA) 2 $360,000 $180,000 $4,436 3.69%
    LANCASTER, PA (FHA|USDA|VA) 1 $295,000 $295,000 $4,447 3.75%
    RICHMOND, VA (FHA|USDA|VA) 1 $245,000 $245,000 $2,137 3.99%
    Huntingdon, PA (FHA|USDA|VA) 2 $190,000 $95,000 $2,500 3.81%
    LEBANON, PA (FHA|USDA|VA) 1 $175,000 $175,000 $3,417 4.38%
    Patriot's top markets include Chambersburg, Hagerstown, Harrisburg, Washington, and York among others.

    Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • West Virginia (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)

    • Similar Lenders

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

    PENNSYLVANIA STATE EMPLOYEES Credit Union
    Similarity Rank: 114
    CORNING
    Similarity Rank: 202
    PATRIOT
    Similarity Rank: 300
    City National Bank of West Virginia
    Similarity Rank: 312
    DHI MORTGAGE COMPANY, LTD.
    Similarity Rank: 324
    Mid Penn Bank
    Similarity Rank: 528
    ACNB Bank
    Similarity Rank: 600
    United Bank
    Similarity Rank: 732
    MILLENNIUM FINANCIAL GROUP, INC.
    Similarity Rank: 854
    HOWARD HANNA FINANCIAL SERVICES, INC.
    Similarity Rank: 902

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 633 $65,625,000 $103,673 $1,412 4.46%
    FHA 42 $7,890,000 $187,857 $6,795 3.49%
    USDA 27 $4,355,000 $161,296 $4,988 3.27%
    VA 21 $4,465,000 $212,619 $6,195 3.48%

    For 2019, Patriot's most frequently originated type of loan was Conventional, with 633 originations. Their 2nd most popular type was FHA, with 42 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 245 $41,865,000 $170,878 $4,254 3.87%
    Refi 208 $23,380,000 $112,404 $1,234 4.22%
    Home Improvement 111 $3,785,000 $34,099 $0 4.78%
    Other 110 $5,050,000 $45,909 $31 5.30%
    Cash Out Refi 49 $8,255,000 $168,469 $3,462 3.86%

    For 2019, Patriot's most frequently cited loan purpose was Home Purchase, with 245 originations. The 2nd most popular reason was Refi, with 208 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 277 $50,495,000 $182,292 $4,195 3.80%
    10 Year 171 $9,275,000 $54,240 $159 4.89%
    15 Year 160 $16,250,000 $101,563 $1,206 4.66%
    5 Year 75 $2,155,000 $28,733 $1 4.07%
    Other 26 $2,070,000 $79,615 $483 5.13%
    20 Year 14 $2,090,000 $149,286 $3,032 3.84%

    For 2019, Patriot's most frequently cited loan duration was 30 Year, with 277 originations. The 2nd most popular length was 10 Year, with 171 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 548 $51,160,000 $93,358
    $1k-2k 153 $27,885,000 $182,255
    $2k-3k 4 $790,000 $197,500
    $3k-4k 2 $380,000 $190,000

    Patriot's average total fees were $4,195, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 548 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 357 $47,635,000 $133,431
    4-5% 220 $23,120,000 $105,091
    5-6% 59 $3,655,000 $61,949
    2.5-3% 30 $5,660,000 $188,667
    6-7% 23 $1,085,000 $47,174
    Over 8% 17 $655,000 $38,529
    7-8% 15 $465,000 $31,000
    <2.5% 2 $60,000 $30,000

    During 2019, Patriot's average interest rate for loans was 3.80%, while their most frequently originated rate bucket for loans was 3-4%, with 357 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 377 $17,505,000 $46,432 $369 4.81%
    $100k-200k 224 $32,940,000 $147,054 $3,426 3.80%
    $200k-400k 118 $30,090,000 $255,000 $4,528 3.79%
    $400k-600k 4 $1,800,000 $450,000 $4,765 3.66%

    2019 saw Patriot place emphasis on $100,000 or less loans with 377 originations, totaling $17,505,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 183 $19,725,000 $107,787 $2,143 4.37%
    $100k-150k 163 $21,175,000 $129,908 $1,994 4.38%
    $50k or less 159 $15,145,000 $95,252 $2,212 4.06%
    $75k-100k 128 $12,850,000 $100,391 $1,705 4.47%
    $150k-250k 62 $10,390,000 $167,581 $2,166 4.49%
    $250k+ 5 $915,000 $183,000 $1,682 3.79%

    Patriot lent most frequently to those with incomes in the $50k-75k range, with 183 originations. The second most popular income band? $100k-150k, with 163 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 206 $20,590,000 $99,951 $1,481 4.28%
    30-36% 151 $18,685,000 $123,742 $2,214 4.46%
    <20% 99 $8,865,000 $89,545 $1,226 4.08%
    40% 25 $3,105,000 $124,200 $2,856 4.34%
    37% 25 $3,005,000 $120,200 $2,168 4.29%
    36% 24 $3,010,000 $125,417 $2,627 4.64%
    39% 24 $2,600,000 $108,333 $1,940 4.34%
    43% 23 $3,465,000 $150,652 $2,823 4.39%
    38% 21 $1,555,000 $74,048 $1,374 5.18%
    44% 19 $3,015,000 $158,684 $3,460 4.23%
    42% 17 $2,005,000 $117,941 $2,086 4.34%
    41% 15 $1,915,000 $127,667 $2,445 3.84%
    45% 13 $2,185,000 $168,077 $3,160 4.10%
    47% 12 $1,650,000 $137,500 $2,604 4.04%
    49% 10 $1,350,000 $135,000 $3,552 4.11%
    50-60% 10 $1,770,000 $177,000 $5,647 3.88%
    48% 8 $950,000 $118,750 $1,910 4.28%
    46% 7 $755,000 $107,857 $2,425 4.51%
    >60% 2 $240,000 $120,000 $3,038 4.31%

    Patriot lent most frequently to those with DTI ratios of 20-30%, with 206 originations. The next most common DTI ratio? 30-36%, with 151 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 647 $72,615,000 $112,233 $1,956 4.32%
    Not provided 42 $4,910,000 $116,905 $2,157 4.40%
    Not applicable 14 $2,000,000 $142,857 $3,269 4.87%
    Black 13 $1,965,000 $151,154 $3,932 3.81%
    Asian 5 $635,000 $127,000 $2,497 4.02%
    American Indian 1 $155,000 $155,000 $3,191 4.38%
    Native Hawaiian or Islander 1 $55,000 $55,000 $0 4.99%

    Approval Rates

    Total approvals of all applications
    81.43%

    Patriot has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    69.85%

    Patriot has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 723 $82,335,000 $113,880

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 2 $130,000 $65,000
    Single Family (1-4 Units):Site-Built 721 $82,205,000 $114,015

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 115 $6,515,000 $56,652 $212 4.93%
    40-60% 62 $7,520,000 $121,290 $1,298 4.12%
    60-80% 133 $21,275,000 $159,962 $2,820 4.14%
    80-100% 209 $38,765,000 $185,478 $4,279 3.76%
    Over 100% 14 $2,780,000 $198,571 $6,610 3.49%
    Under 20% 190 $5,480,000 $28,842 $14 4.84%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Peter T. Roach and Associates, P.C. Conventional home mortgage Struggling to pay mortgage 1 100.0%