Patriots Bank Mortgage Rates, Fees & Info
GARNETT, KSLEI: 549300QP3NKC4EY4SD85
Tax ID: 48-0364530
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Mortgage Data
Review & Overview
Patriots Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Patriots Bank has a high proportion of conventional loans. Their top markets by origination volume include: Kansas City, Ottawa, Coffeyville, and Wausau among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Patriots Bank has an above average approval rate when compared to the average across all lenders. Patriots Bank 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.
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Originations
30Origination Dollar Volume (All Markets)
$6,620,000Top 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 |
|---|---|---|---|---|---|
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 14 | $4,340,000 | $310,000 | $2,522 | 5.68% |
| Outside of Metro Areas | 9 | $1,475,000 | $163,889 | $1,365 | 5.83% |
| Ottawa, KS (FHA|USDA|VA) | 5 | $585,000 | $117,000 | $2,547 | 5.88% |
| Coffeyville, KS (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $1,271 | 4.50% |
| WAUSAU-WESTON, WI (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,179 | 6.38% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 30 | $6,620,000 | $220,667 | $2,035 | 5.74% |
For 2018, Patriots Bank's most frequently originated type of loan was Conventional, with 30 originations.
Loan Reason
For 2018, Patriots Bank's most frequently cited loan purpose was Home Purchase, with 14 originations. The 2nd most popular reason was Cash Out Refi, with 8 originations.
Loan Duration/Length
For 2018, Patriots Bank's most frequently cited loan duration was 20 Year, with 10 originations. The 2nd most popular length was 30 Year, with 7 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 11 | $1,315,000 | $119,545 |
| $2k-3k | 3 | $945,000 | $315,000 |
| $1k-2k | 1 | $105,000 | $105,000 |
Patriots Bank's average total fees were $2,563, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 11 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 13 | $1,845,000 | $141,923 |
| 4-5% | 9 | $1,755,000 | $195,000 |
| 5-6% | 7 | $2,955,000 | $422,143 |
During 2018, Patriots Bank's average interest rate for loans was 4.75%, while their most frequently originated rate bucket for loans was 6-7%, with 13 originations.
Loan Sizing
2018 saw Patriots Bank place emphasis on $100,000 or less loans with 13 originations, totaling $685,000 in origination value.
Applicant Income
Patriots Bank lent most frequently to those with incomes in the $50k or less range, with 7 originations. The second most popular income band? $75k-100k, with 5 originations.
Applicant Debt to Income Ratio
Patriots Bank lent most frequently to those with DTI ratios of <20%, with 9 originations. The next most common DTI ratio? 20-30%, with 6 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 22 | $3,460,000 | $157,273 | $2,035 | 5.60% |
| Not applicable | 8 | $3,160,000 | $395,000 | $0 | 6.09% |
Approval Rates
Total approvals of all applications96.77%
Patriots Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 30 | $6,620,000 | $220,667 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 30 | $6,620,000 | $220,667 |