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 Cash Out Refi, Home Purchase, and Refi loans. Patriots Bank has a high proportion of conventional loans. Their top markets by origination volume include: Kansas City, Key West, and Ottawa among others. We have data for 4 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. They have an above average pick rate when compared to similar 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
45Origination Dollar Volume (All Markets)
$7,935,000Awards
PATRIOTS BANK - 2019
PATRIOTS BANK is a 2019 , due to their low .
For 2019, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 19 | $4,035,000 | $212,368 | $1,952 | 4.99% |
| Outside of Metro Areas | 18 | $1,870,000 | $103,889 | $1,289 | 5.50% |
| Key West, FL (FHA|USDA|VA) | 1 | $1,285,000 | $1,285,000 | $0 | 6.25% |
| Ottawa, KS (FHA|USDA|VA) | 7 | $745,000 | $106,429 | $1,743 | 5.18% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 45 | $7,935,000 | $176,333 | $1,677 | 5.25% |
For 2019, Patriots Bank's most frequently originated type of loan was Conventional, with 45 originations.
Loan Reason
For 2019, Patriots Bank's most frequently cited loan purpose was Cash Out Refi, with 19 originations. The 2nd most popular reason was Home Purchase, with 15 originations.
Loan Duration/Length
For 2019, Patriots Bank's most frequently cited loan duration was 20 Year, with 16 originations. The 2nd most popular length was 30 Year, with 11 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 23 | $3,215,000 | $139,783 |
| $1k-2k | 4 | $580,000 | $145,000 |
Patriots Bank's average total fees were $1,876, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 23 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 17 | $3,035,000 | $178,529 |
| 5-6% | 10 | $1,350,000 | $135,000 |
| 3-4% | 9 | $1,845,000 | $205,000 |
| 4-5% | 8 | $1,570,000 | $196,250 |
| 2.5-3% | 1 | $135,000 | $135,000 |
During 2019, Patriots Bank's average interest rate for loans was 3.86%, while their most frequently originated rate bucket for loans was 6-7%, with 17 originations.
Loan Sizing
2019 saw Patriots Bank place emphasis on $100,000 or less loans with 21 originations, totaling $1,075,000 in origination value.
Applicant Income
Patriots Bank lent most frequently to those with incomes in the $75k-100k range, with 11 originations. The second most popular income band? $50k-75k, with 7 originations.
Applicant Debt to Income Ratio
Patriots Bank lent most frequently to those with DTI ratios of 20-30%, with 10 originations. The next most common DTI ratio? <20%, with 7 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.92%
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 origination97.78%
Patriots Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 45 | $7,935,000 | $176,333 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 2 | $140,000 | $70,000 |
| Single Family (1-4 Units):Site-Built | 43 | $7,795,000 | $181,279 |
LTV Distribution
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% |