Partners United Financial Mortgage Rates, Fees & Info

WILMINGTON, DE

LEI: 549300JRSBCJN2HPK893

Tax ID: 81-2535190

3.8 stars - out of 5 stars, based on 26 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Partners United Financial is a smaller mortgage company specializing in Home Purchase and Refi loans. Partners United Financial has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Los Angeles, Columbus, Casper, Louisville/jefferson County, and Fort Collins among others. Partners United Financial has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Partners United Financial is typically a high fee lendor.


Originations

667

Origination Dollar Volume (All Markets)

$248,945,000

Relative Rate

Partners United Financial 's average 30 year fixed rate mortgage of loans were 3.11%.

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

This yields a difference of -0.04%.

Relative Fees

Partners United Financial 's average total fees for a 30 year fixed rate mortgage are $6,050.

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
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 176 $103,470,000 $587,898 $6,262 3.19%
COLUMBUS, OH (FHA|USDA|VA) 222 $67,180,000 $302,613 $5,789 2.97%
CASPER, WY (FHA|USDA|VA) 109 $29,525,000 $270,872 $6,810 2.94%
LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) 45 $11,575,000 $257,222 $4,218 3.24%
FORT COLLINS, CO (FHA|USDA|VA) 24 $8,320,000 $346,667 $4,703 2.95%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 10 $5,890,000 $589,000 $5,032 3.00%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 14 $4,950,000 $353,571 $6,174 3.01%
GREELEY, CO (FHA|USDA|VA) 14 $4,280,000 $305,714 $5,277 2.84%
Outside of Metro Areas 8 $1,530,000 $191,250 $5,038 3.28%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 4 $1,500,000 $375,000 $6,525 2.78%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 3 $1,485,000 $495,000 $8,010 2.91%
Bellefontaine, OH (FHA|USDA|VA) 9 $1,395,000 $155,000 $3,755 3.08%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $1,195,000 $1,195,000 $5,498 3.13%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 2 $960,000 $480,000 $5,461 2.75%
BOULDER, CO (FHA|USDA|VA) 2 $870,000 $435,000 $9,182 2.56%
DAYTON-KETTERING, OH (FHA|USDA|VA) 4 $710,000 $177,500 $4,354 2.53%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $545,000 $545,000 $6,352 3.25%
Bardstown, KY (FHA|USDA|VA) 3 $515,000 $171,667 $3,924 3.16%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $415,000 $415,000 $4,845 2.88%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $365,000 $365,000 $4,093 3.38%
Crescent City, CA (FHA|USDA|VA) 1 $325,000 $325,000 $3,749 3.25%
Urbana, OH (FHA|USDA|VA) 2 $300,000 $150,000 $3,468 3.50%
TOLEDO, OH (FHA|USDA|VA) 2 $290,000 $145,000 $4,871 3.56%
COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $255,000 $255,000 $5,220 3.13%
Washington Court House, OH (FHA|USDA|VA) 1 $225,000 $225,000 $8,024 3.13%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $205,000 $205,000 $3,802 3.38%
Steamboat Springs, CO (FHA|USDA|VA) 1 $175,000 $175,000 $2,938 2.88%
Campbellsville, KY (FHA|USDA|VA) 1 $165,000 $165,000 $3,410 3.63%
EVANSVILLE, IN-KY (FHA|USDA|VA) 1 $145,000 $145,000 $3,043 3.99%
MANSFIELD, OH (FHA|USDA|VA) 1 $95,000 $95,000 $3,010 3.75%
SPRINGFIELD, OH (FHA|USDA|VA) 2 $90,000 $45,000 $2,379 1.88%

Partners United Financial 's top markets include Los Angeles, Columbus, Casper, Louisville/jefferson County, and Fort Collins among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 551 $215,245,000 $390,644 $5,234 3.04%
FHA 74 $20,250,000 $273,649 $8,983 3.16%
VA 37 $12,215,000 $330,135 $8,611 2.87%
USDA 5 $1,235,000 $247,000 $6,717 3.20%

For the 2021 period, Partners United Financial 's most frequently originated loan type of loans were Conventional, with 551 originations. Their 2nd most popular type is FHA, with 74 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 436 $154,540,000 $354,450 $6,320 3.01%
Refi 158 $63,790,000 $403,734 $5,010 3.01%
Cash Out Refi 73 $30,615,000 $419,384 $4,851 3.35%

For the 2021, Partners United Financial 's most frequently cited loan purpose of loans were Home Purchase, with 436 originations. The 2nd most popular reason of loans were Refi, with 158 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 604 $231,860,000 $383,874 $6,050 3.11%
15 Year 38 $11,280,000 $296,842 $4,342 2.50%
20 Year 14 $3,380,000 $241,429 $3,499 2.94%
Other 8 $440,000 $55,000 $1,670 0.72%
10 Year 2 $180,000 $90,000 $2,816 2.69%
30+ year 1 $1,805,000 $1,805,000 $14,009 3.75%

For the 2021, Partners United Financial 's most frequently cited loan length of loans were 30 Year, with 604 originations. The 2nd most popular length of loans were 15 Year, with 38 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 386 $138,590,000 $359,041
$3k-4k 98 $38,070,000 $388,469
$2k-3k 90 $29,090,000 $323,222
$5k+ 76 $41,880,000 $551,053
$<1k 17 $1,315,000 $77,353

$6,050 of loans were Partners United Financial 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 386 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 306 $121,930,000 $398,464
3-4% 278 $101,080,000 $363,597
<2.5% 60 $17,280,000 $288,000
4-5% 23 $8,655,000 $376,304

During 2021, Partners United Financial 's average interest rate of loans were 3.11%, while their most frequently originated rate bucket of loans were 2.5-3%, with 306 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 301 $89,805,000 $298,355 $5,784 3.02%
$400k-600k 138 $66,150,000 $479,348 $6,642 3.00%
$100k-200k 121 $18,995,000 $156,983 $4,160 3.29%
$600k-1MM 69 $51,165,000 $741,522 $7,536 3.14%
$100,000 or less 22 $1,000,000 $45,455 $1,638 1.76%
$1MM+ 16 $21,830,000 $1,364,375 $11,510 3.32%

2021 saw Partners United Financial place emphasis on $200k-400k loans with 301 originations, totaling $89,805,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 184 $69,970,000 $380,272 $5,738 3.06%
$50k-75k 138 $32,830,000 $237,899 $5,363 3.03%
$150k-250k 114 $57,230,000 $502,018 $6,300 3.05%
$75k-100k 104 $32,340,000 $310,962 $6,155 2.99%
$50k or less 60 $9,320,000 $155,333 $4,076 2.96%
$250k+ 55 $42,835,000 $778,818 $7,822 3.14%

Partners United Financial lent most frequently to those with incomes in the $100k-150k range, with 184 originations. The second most popular income band? $50k-75k, with 138 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
30-36% 131 $49,905,000 $380,954 $5,793 3.06%
20-30% 122 $40,390,000 $331,066 $5,383 3.01%
<20% 63 $18,855,000 $299,286 $4,556 2.73%
43% 37 $14,085,000 $380,676 $6,332 3.32%
49% 29 $9,165,000 $316,034 $6,069 3.16%
44% 28 $10,600,000 $378,571 $6,531 3.09%
42% 27 $12,175,000 $450,926 $6,181 3.05%
40% 26 $10,510,000 $404,231 $6,466 3.20%
41% 26 $14,470,000 $556,538 $5,785 3.11%
50-60% 24 $7,630,000 $317,917 $9,048 3.07%
38% 23 $9,545,000 $415,000 $6,448 3.09%
36% 21 $9,345,000 $445,000 $5,421 3.13%
45% 20 $7,100,000 $355,000 $5,771 3.12%
48% 20 $7,790,000 $389,500 $6,858 3.03%
39% 20 $9,650,000 $482,500 $6,238 3.12%
37% 18 $5,830,000 $323,889 $5,376 3.03%
47% 15 $5,275,000 $351,667 $5,189 3.00%
46% 11 $5,265,000 $478,636 $5,799 2.91%
>60% 2 $370,000 $185,000 $5,035 3.19%

Partners United Financial lent most frequently to those with DTI ratios of 30-36%, with 131 originations. The next most common DTI ratio? 20-30%, with 122 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 471 $174,055,000 $369,544 $5,747 3.05%
Not provided 116 $39,000,000 $336,207 $5,954 3.03%
Asian 50 $25,160,000 $503,200 $6,090 2.95%
Black 30 $10,730,000 $357,667 $6,642 3.18%

Approval Rates

Total approvals of all applications
93.89%

Partners United Financial has an average approval rate.

Pick Rate

Approvals leading to origination
67.81%

Partners United Financial 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 667 $248,945,000 $373,231

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
667 $248,945,000 $373,231

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 40 $13,870,000 $346,750 $4,396 2.92%
40-60% 83 $41,105,000 $495,241 $5,520 3.09%
60-80% 192 $77,200,000 $402,083 $5,274 3.18%
80-100% 326 $112,560,000 $345,276 $6,498 3.07%
Over 100% 9 $2,905,000 $322,778 $12,322 3.05%
Under 20% 17 $1,305,000 $76,765 $1,489 1.12%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Partners for Payment Relief Other type of mortgage Trouble during payment process 1 100.0%