Partnership Financial Mortgage Rates, Fees & Info
Morton Grove, ILLEI: 549300Q2D3BVMIW11R02
Tax ID: 36-6070077
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Mortgage Data
Review & Overview
Partnership Financial is a smaller mortgage company specializing in Cash Out Refi, Refi, and Home Purchase loans. Partnership Financial has a high proportion of conventional loans. Their top markets by origination volume include: Chicago, Boulder, Brevard, and Marquette among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Partnership Financial 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.
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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.64% | 4/28/24 |
| 30 Year Conventional Refi | 6.27% | 4/28/24 |
| 30 Year Cash-out Refi | 6.56% | 4/28/24 |
| 15 Year Conventional Purchase | 6.37% | 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. | ||
Partnership Financial Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
56Origination Dollar Volume (All Markets)
$13,620,000Top 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 |
|---|---|---|---|---|---|
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 53 | $13,285,000 | $250,660 | $0 | 0.00% |
| BOULDER, CO (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| Brevard, NC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| Marquette, MI (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against PARTNERSHIP FINANCIAL based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 56 | $13,620,000 | $243,214 | $0 | 0.00% |
For 2019, Partnership Financial's most frequently originated type of loan was Conventional, with 56 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 23 | $4,745,000 | $206,304 | $0 | 0.00% |
| Refi | 17 | $4,325,000 | $254,412 | $0 | 0.00% |
| Home Purchase | 16 | $4,550,000 | $284,375 | $0 | 0.00% |
For 2019, Partnership Financial's most frequently cited loan purpose was Cash Out Refi, with 23 originations. The 2nd most popular reason was Refi, with 17 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 56 | $13,620,000 | $243,214 | $0 | 0.00% |
For 2019, Partnership Financial's most frequently cited loan duration was Other, with 56 originations.
Loan Sizing
2019 saw Partnership Financial place emphasis on $100k-200k loans with 25 originations, totaling $3,875,000 in origination value.
Applicant Income
Partnership Financial lent most frequently to those with incomes in the $100k-150k range, with 20 originations. The second most popular income band? $150k-250k, with 15 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 56 | $13,620,000 | $243,214 | $0 | 0.00% |
Partnership Financial lent most frequently to those with DTI ratios of Exempt%, with 56 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.95%
Partnership Financial has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination82.14%
Partnership Financial has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 56 | $13,620,000 | $243,214 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 56 | $13,620,000 | $243,214 |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Partners for Payment Relief | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |