Pilgrim Mortgage Rates, Fees & Info

SAN ANTONIO, TX

LEI: 549300Y817BTHHMVNH95

Tax ID: 30-0382471

2.2 stars - out of 5 stars, based on 38 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Pilgrim Mortgage is a smaller mortgage company specializing in Home Purchase and Refi loans. Pilgrim Mortgage 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 San Antonio, Dallas, Little Rock, Houston, and Austin among others. Pilgrim Mortgage 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. Pilgrim Mortgage is typically a high fee lendor.


Originations

1,453

Origination Dollar Volume (All Markets)

$368,095,000

Relative Rate

Pilgrim Mortgage 's average 30 year fixed rate mortgage of loans were 3.18%.

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

This yields a difference of 0.03%.

Relative Fees

Pilgrim Mortgage 's average total fees for a 30 year fixed rate mortgage are $7,455.

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
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 864 $231,240,000 $267,639 $7,398 3.13%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 163 $43,725,000 $268,252 $7,285 3.11%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 209 $40,565,000 $194,091 $7,601 3.35%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 27 $6,635,000 $245,741 $6,834 2.98%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 21 $6,415,000 $305,476 $7,349 3.05%
Outside of Metro Areas 22 $4,670,000 $212,273 $7,458 3.34%
EL PASO, TX (FHA|USDA|VA) 17 $3,665,000 $215,588 $6,681 3.17%
CORPUS CHRISTI, TX (FHA|USDA|VA) 13 $3,065,000 $235,769 $5,869 3.13%
Kerrville, TX (FHA|USDA|VA) 10 $3,030,000 $303,000 $7,676 3.11%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 6 $2,900,000 $483,333 $10,772 3.25%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 9 $2,105,000 $233,889 $5,451 2.58%
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 10 $1,920,000 $192,000 $7,050 3.15%
SHERMAN-DENISON, TX (FHA|USDA|VA) 9 $1,685,000 $187,222 $6,313 3.19%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 6 $1,480,000 $246,667 $8,211 3.33%
PINE BLUFF, AR (FHA|USDA|VA) 11 $1,415,000 $128,636 $5,051 3.36%
MIDLAND, TX (FHA|USDA|VA) 5 $1,245,000 $249,000 $6,779 3.28%
Fredericksburg, TX (FHA|USDA|VA) 2 $1,070,000 $535,000 $10,875 2.88%
TYLER, TX (FHA|USDA|VA) 3 $715,000 $238,333 $8,402 2.88%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 2 $630,000 $315,000 $8,648 3.31%
LAREDO, TX (FHA|USDA|VA) 2 $550,000 $275,000 $8,660 3.44%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $545,000 $545,000 $8,483 2.63%
Uvalde, TX (FHA|USDA|VA) 2 $540,000 $270,000 $9,324 3.06%
LONGVIEW, TX (FHA|USDA|VA) 2 $530,000 $265,000 $5,089 2.68%
KNOXVILLE, TN (FHA|USDA|VA) 1 $445,000 $445,000 $5,005 3.00%
Del Rio, TX (FHA|USDA|VA) 1 $445,000 $445,000 $5,287 2.25%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $395,000 $395,000 $8,671 2.99%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $385,000 $385,000 $8,298 3.63%
Rockport, TX (FHA|USDA|VA) 1 $345,000 $345,000 $11,368 3.38%
Stephenville, TX (FHA|USDA|VA) 1 $345,000 $345,000 $5,788 2.00%
Eagle Pass, TX (FHA|USDA|VA) 2 $330,000 $165,000 $7,049 2.81%
Harrison, AR (FHA|USDA|VA) 1 $305,000 $305,000 $11,899 4.13%
HOT SPRINGS, AR (FHA|USDA|VA) 1 $285,000 $285,000 $8,825 4.00%
Russellville, AR (FHA|USDA|VA) 2 $280,000 $140,000 $4,599 3.31%
Jacksonville, TX (FHA|USDA|VA) 1 $275,000 $275,000 $5,722 3.63%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $245,000 $245,000 $4,080 2.25%
Camden, AR (FHA|USDA|VA) 1 $245,000 $245,000 $7,876 3.13%
Beeville, TX (FHA|USDA|VA) 1 $235,000 $235,000 $9,461 2.63%
Sulphur Springs, TX (FHA|USDA|VA) 1 $225,000 $225,000 $8,384 3.25%
AMARILLO, TX (FHA|USDA|VA) 1 $215,000 $215,000 $4,528 2.25%
LUBBOCK, TX (FHA|USDA|VA) 1 $205,000 $205,000 $6,917 3.88%
Rio Grande City-Roma, TX (FHA|USDA|VA) 1 $205,000 $205,000 $8,071 4.13%
Alice, TX (FHA|USDA|VA) 1 $195,000 $195,000 $4,803 3.25%
WICHITA FALLS, TX (FHA|USDA|VA) 1 $185,000 $185,000 $6,760 1.88%
ODESSA, TX (FHA|USDA|VA) 1 $175,000 $175,000 $8,004 3.75%
Corsicana, TX (FHA|USDA|VA) 1 $175,000 $175,000 $7,112 4.00%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $175,000 $175,000 $6,736 3.63%
BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 1 $165,000 $165,000 $7,933 3.38%
SAN ANGELO, TX (FHA|USDA|VA) 1 $155,000 $155,000 $3,291 3.37%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $145,000 $145,000 $7,077 3.13%
Paris, TX (FHA|USDA|VA) 1 $135,000 $135,000 $5,051 3.25%
Plainview, TX (FHA|USDA|VA) 1 $125,000 $125,000 $6,814 4.38%
Borger, TX (FHA|USDA|VA) 1 $115,000 $115,000 $4,296 3.25%
BOULDER, CO (FHA|USDA|VA) 1 $115,000 $115,000 $4,104 2.63%
Arkadelphia, AR (FHA|USDA|VA) 1 $115,000 $115,000 $5,940 3.99%
Pearsall, TX (FHA|USDA|VA) 1 $115,000 $115,000 $9,934 3.75%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $95,000 $95,000 $3,466 2.63%
Forrest City, AR (FHA|USDA|VA) 1 $85,000 $85,000 $6,066 3.25%
Raymondville, TX (FHA|USDA|VA) 1 $75,000 $75,000 $4,754 3.25%

Pilgrim Mortgage 's top markets include San Antonio, Dallas, Little Rock, Houston, and Austin among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 746 $191,020,000 $256,059 $5,998 3.18%
FHA 430 $91,740,000 $213,349 $9,012 3.32%
VA 233 $76,935,000 $330,193 $8,757 2.78%
USDA 44 $8,400,000 $190,909 $6,632 3.17%

For the 2021 period, Pilgrim Mortgage 's most frequently originated loan type of loans were Conventional, with 746 originations. Their 2nd most popular type is FHA, with 430 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 1,079 $279,065,000 $258,633 $7,931 3.26%
Refi 308 $74,010,000 $240,292 $5,483 2.82%
Cash Out Refi 57 $12,995,000 $227,982 $6,524 3.13%
Home Improvement 9 $2,025,000 $225,000 $7,045 3.36%

For the 2021, Pilgrim Mortgage 's most frequently cited loan purpose of loans were Home Purchase, with 1,079 originations. The 2nd most popular reason of loans were Refi, with 308 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 1,383 $352,995,000 $255,239 $7,455 3.18%
15 Year 50 $11,650,000 $233,000 $5,485 2.58%
20 Year 11 $2,075,000 $188,636 $5,574 2.81%
10 Year 5 $515,000 $103,000 $3,257 2.73%
Other 4 $860,000 $215,000 $4,807 3.62%

For the 2021, Pilgrim Mortgage 's most frequently cited loan length of loans were 30 Year, with 1,383 originations. The 2nd most popular length of loans were 15 Year, with 50 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 752 $189,420,000 $251,888
$3k-4k 261 $60,405,000 $231,437
$2k-3k 249 $56,995,000 $228,896
$5k+ 156 $55,240,000 $354,103
$<1k 35 $6,035,000 $172,429

$7,455 of loans were Pilgrim Mortgage 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 752 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 766 $182,010,000 $237,611
2.5-3% 468 $127,410,000 $272,244
<2.5% 159 $45,035,000 $283,239
4-5% 59 $13,415,000 $227,373
5-6% 1 $225,000 $225,000

During 2021, Pilgrim Mortgage 's average interest rate of loans were 3.18%, while their most frequently originated rate bucket of loans were 3-4%, with 766 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 746 $203,120,000 $272,279 $7,839 3.14%
$100k-200k 495 $78,005,000 $157,586 $5,942 3.23%
$400k-600k 145 $68,345,000 $471,345 $9,537 3.09%
$100,000 or less 47 $3,845,000 $81,809 $4,379 3.19%
$600k-1MM 20 $14,780,000 $739,000 $15,179 2.73%

2021 saw Pilgrim Mortgage place emphasis on $200k-400k loans with 746 originations, totaling $203,120,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 374 $80,460,000 $215,134 $7,158 3.25%
$50k or less 322 $59,930,000 $186,118 $6,190 3.05%
$100k-150k 318 $94,980,000 $298,679 $7,926 3.17%
$75k-100k 233 $58,785,000 $252,296 $7,927 3.18%
$150k-250k 156 $56,170,000 $360,064 $7,720 3.11%
$250k+ 49 $17,675,000 $360,714 $8,888 3.23%

Pilgrim Mortgage lent most frequently to those with incomes in the $50k-75k range, with 374 originations. The second most popular income band? $50k or less, with 322 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 561 $144,595,000 $257,745 $7,687 3.20%
<20% 460 $112,900,000 $245,435 $6,791 3.17%
30-36% 205 $49,845,000 $243,146 $7,914 3.27%
36% 28 $6,850,000 $244,643 $7,023 3.31%
37% 20 $5,450,000 $272,500 $7,869 3.21%
38% 18 $4,010,000 $222,778 $8,619 3.29%
41% 16 $3,820,000 $238,750 $7,985 3.18%
40% 15 $3,775,000 $251,667 $7,753 3.42%
39% 14 $3,740,000 $267,143 $8,096 3.21%
43% 11 $2,705,000 $245,909 $5,920 3.25%
44% 9 $2,295,000 $255,000 $9,134 3.32%
42% 7 $2,105,000 $300,714 $10,136 2.96%
45% 6 $1,570,000 $261,667 $8,090 3.21%
47% 5 $1,875,000 $375,000 $5,418 3.02%
46% 2 $740,000 $370,000 $15,903 2.75%
48% 2 $1,070,000 $535,000 $25,817 2.56%
50-60% 1 $195,000 $195,000 $2,821 2.50%

Pilgrim Mortgage lent most frequently to those with DTI ratios of 20-30%, with 561 originations. The next most common DTI ratio? <20%, with 460 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,055 $274,825,000 $260,498 $7,259 3.13%
Black 290 $63,730,000 $219,759 $7,696 3.26%
Not provided 71 $19,125,000 $269,366 $7,705 3.24%
Asian 24 $7,250,000 $302,083 $6,450 3.16%
American Indian 8 $1,830,000 $228,750 $6,924 3.13%
Native Hawaiian 3 $775,000 $258,333 $6,609 3.04%
Filipino 1 $335,000 $335,000 $4,087 2.99%
Other Asian 1 $225,000 $225,000 $10,004 3.00%

Approval Rates

Total approvals of all applications
98.64%

Pilgrim Mortgage has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
69.37%

Pilgrim Mortgage 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 1,453 $368,095,000 $253,334

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,453 $368,095,000 $253,334

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 14 $2,610,000 $186,429 $6,955 2.92%
40-60% 90 $17,230,000 $191,444 $5,174 2.87%
60-80% 338 $86,760,000 $256,686 $6,094 3.12%
80-100% 962 $245,450,000 $255,146 $7,637 3.21%
Over 100% 46 $15,840,000 $344,348 $15,289 3.04%
Under 20% 2 $110,000 $55,000 $1,945 2.94%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Pilgrim Mortgage LLC Conventional home mortgage Closing on a mortgage 1 100.0%