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

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 is a smaller mortgage company specializing in Home Purchase loans. Patriot has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Chambersburg, Hagerstown, Harrisburg, Washington, and Gettysburg among others. We have data for 14 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

    534

    Origination Dollar Volume (All Markets)

    $64,870,000

    Awards

    PATRIOT 30 Year Conventional Loans gold PATRIOT 30 Year Conventional Loans gold PATRIOT FHA Loans silver
    Show all (3) 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) 346 $43,470,000 $125,636 $1,706 4.43%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 93 $9,365,000 $100,699 $1,095 4.68%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 31 $4,385,000 $141,452 $3,036 4.45%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 20 $2,610,000 $130,500 $1,442 4.92%
    GETTYSBURG, PA (FHA|USDA|VA) 15 $2,205,000 $147,000 $2,379 4.18%
    Outside of Metro Areas 15 $1,315,000 $87,667 $865 3.89%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 4 $540,000 $135,000 $985 4.76%
    LANCASTER, PA (FHA|USDA|VA) 2 $420,000 $210,000 $2,141 4.74%
    Somerset, PA (FHA|USDA|VA) 1 $155,000 $155,000 $8,261 5.99%
    YORK-HANOVER, PA (FHA|USDA|VA) 2 $150,000 $75,000 $99 4.99%
    Huntingdon, PA (FHA|USDA|VA) 2 $100,000 $50,000 $50 4.47%
    CUMBERLAND, MD-WV (FHA|USDA|VA) 1 $65,000 $65,000 $0 5.88%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $55,000 $55,000 $2,925 2.63%
    JOHNSTOWN, PA (FHA|USDA|VA) 1 $35,000 $35,000 $99 4.74%
    Patriot's top markets include Chambersburg, Hagerstown, Harrisburg, Washington, and Gettysburg among others.

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

    City National Bank of West Virginia
    Similarity Rank: 185
    PATRIOT
    Similarity Rank: 448
    ACNB Bank
    Similarity Rank: 462
    STATE EMPLOYEES CREDIT UNION OF MARYLAND, INCORPORATED
    Similarity Rank: 465
    Farmers and Merchants Trust Company of Chambersburg
    Similarity Rank: 476
    MILLENNIUM FINANCIAL GROUP, INC.
    Similarity Rank: 560
    CNB Bank Inc.
    Similarity Rank: 629
    Foote Capital Mortgage Company
    Similarity Rank: 686
    CORNING
    Similarity Rank: 1140
    PENNSYLVANIA STATE EMPLOYEES Credit Union
    Similarity Rank: 1368

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 505 $57,495,000 $113,851 $1,238 4.49%
    FHA 11 $2,605,000 $236,818 $8,121 4.56%
    VA 10 $3,220,000 $322,000 $10,154 4.50%
    USDA 8 $1,550,000 $193,750 $5,746 4.16%

    For 2022, Patriot's most frequently originated type of loan was Conventional, with 505 originations. Their 2nd most popular type was FHA, with 11 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 178 $37,570,000 $211,067 $4,801 4.77%
    Home Improvement 148 $7,170,000 $48,446 $93 4.56%
    Refi 109 $11,875,000 $108,945 $596 3.98%
    Other 76 $4,310,000 $56,711 $211 4.64%
    Cash Out Refi 23 $3,945,000 $171,522 $3,453 3.61%

    For 2022, Patriot's most frequently cited loan purpose was Home Purchase, with 178 originations. The 2nd most popular reason was Home Improvement, with 148 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 157 $12,285,000 $78,248 $70 4.41%
    30 Year 147 $31,405,000 $213,639 $4,689 4.62%
    15 Year 145 $13,255,000 $91,414 $521 4.57%
    Other 43 $5,235,000 $121,744 $812 4.61%
    5 Year 36 $1,310,000 $36,389 $65 3.83%
    20 Year 6 $1,380,000 $230,000 $4,743 3.94%

    For 2022, Patriot's most frequently cited loan duration was 10 Year, with 157 originations. The 2nd most popular length was 30 Year, with 147 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 420 $41,670,000 $99,214
    $1k-2k 48 $9,230,000 $192,292
    $2k-3k 5 $995,000 $199,000
    $4k-5k 3 $785,000 $261,667
    $5k+ 3 $1,255,000 $418,333
    $3k-4k 1 $345,000 $345,000

    Patriot's average total fees were $4,689, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 420 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 165 $19,875,000 $120,455
    3-4% 145 $17,715,000 $122,172
    5-6% 85 $12,015,000 $141,353
    2.5-3% 70 $7,450,000 $106,429
    6-7% 36 $4,390,000 $121,944
    7-8% 22 $2,170,000 $98,636
    <2.5% 7 $975,000 $139,286
    Over 8% 4 $280,000 $70,000

    During 2022, Patriot's average interest rate for loans was 4.62%, while their most frequently originated rate bucket for loans was 4-5%, with 165 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 294 $14,390,000 $48,946 $175 4.52%
    $100k-200k 133 $19,265,000 $144,850 $2,591 4.34%
    $200k-400k 98 $26,040,000 $265,714 $4,935 4.56%
    $400k-600k 6 $2,630,000 $438,333 $8,669 4.44%
    $600k-1MM 2 $1,500,000 $750,000 $13,103 4.58%
    $1MM+ 1 $1,045,000 $1,045,000 $0 4.40%

    2022 saw Patriot place emphasis on $100,000 or less loans with 294 originations, totaling $14,390,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 127 $14,265,000 $112,323 $1,079 4.46%
    $50k-75k 125 $13,855,000 $110,840 $2,174 4.57%
    $75k-100k 100 $11,450,000 $114,500 $1,471 4.73%
    $50k or less 76 $7,050,000 $92,763 $1,926 4.19%
    $150k-250k 55 $7,505,000 $136,455 $1,584 4.40%
    $250k+ 5 $1,385,000 $277,000 $4,063 4.37%

    Patriot lent most frequently to those with incomes in the $100k-150k range, with 127 originations. The second most popular income band? $50k-75k, with 125 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 181 $18,365,000 $101,464 $1,365 4.29%
    30-36% 106 $11,390,000 $107,453 $1,546 4.67%
    <20% 52 $3,520,000 $67,692 $519 4.27%
    38% 19 $2,805,000 $147,632 $2,765 4.33%
    42% 18 $3,630,000 $201,667 $3,193 5.31%
    39% 14 $1,210,000 $86,429 $1,751 4.14%
    46% 12 $1,790,000 $149,167 $3,259 4.14%
    41% 12 $1,620,000 $135,000 $2,950 5.25%
    36% 12 $1,770,000 $147,500 $2,172 3.81%
    44% 11 $1,965,000 $178,636 $2,402 5.11%
    40% 10 $1,470,000 $147,000 $2,480 4.40%
    37% 10 $1,580,000 $158,000 $2,052 3.95%
    50-60% 8 $870,000 $108,750 $2,097 4.48%
    47% 7 $1,035,000 $147,857 $2,444 4.20%
    45% 6 $880,000 $146,667 $916 5.05%
    43% 6 $780,000 $130,000 $2,229 5.32%
    49% 2 $200,000 $100,000 $1,233 3.92%
    48% 2 $250,000 $125,000 $3,736 5.12%
    >60% 1 $75,000 $75,000 $99 4.24%

    Patriot lent most frequently to those with DTI ratios of 20-30%, with 181 originations. The next most common DTI ratio? 30-36%, with 106 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 437 $47,775,000 $109,325 $1,540 4.48%
    Not provided 48 $8,100,000 $168,750 $3,136 4.20%
    Not applicable 35 $7,875,000 $225,000 $0 4.71%
    Black 9 $695,000 $77,222 $431 5.47%
    Native Hawaiian or Islander 2 $230,000 $115,000 $1,667 2.79%
    Asian Indian 1 $115,000 $115,000 $0 3.84%
    Asian 2 $80,000 $40,000 $50 4.32%

    Approval Rates

    Total approvals of all applications
    78.32%

    Patriot has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    83.90%

    Patriot has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 534 $64,870,000 $121,479

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    534 $64,870,000 $121,479

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 103 $7,715,000 $74,903 $234 4.28%
    40-60% 46 $5,870,000 $127,609 $1,322 4.16%
    60-80% 97 $18,705,000 $192,835 $3,237 4.41%
    80-100% 107 $24,875,000 $232,477 $4,966 4.67%
    Over 100% 2 $800,000 $400,000 $17,111 4.31%
    Under 20% 179 $6,905,000 $38,575 $75 4.61%