Patriot One Mortgage Bankers Rates, Fees & Info

MINEOLA, NY

LEI: 549300YQJU3WVKMRXR40

Tax ID: 20-2029302

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Patriot One Mortgage Bankers is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Patriot One Mortgage Bankers has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: New York, Poughkeepsie, and Buffalo among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Patriot One Mortgage Bankers 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. Patriot One Mortgage Bankers is typically a high 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.

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.63% 4/28/24
    30 Year Conventional Refi 6.68% 4/28/24
    30 Year Cash-out Refi 6.86% 4/28/24
    30 Year FHA Purchase 7.34% 4/28/24
    30 Year FHA Refi 4.93% 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.

    Patriot One Mortgage Bankers Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Patriot One Mortgage Bankers. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    82

    Origination Dollar Volume (All Markets)

    $43,300,000

    Awards

    PATRIOT ONE MORTGAGE BANKERS FHA Loans bronze
    Show all (1) awards

    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
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 77 $41,585,000 $540,065 $22,814 5.03%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 3 $1,145,000 $381,667 $17,680 6.25%
    Outside of Metro Areas 1 $345,000 $345,000 $9,728 4.88%
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 1 $225,000 $225,000 $9,334 3.50%
    Patriot One Mortgage Bankers's top markets include New York, Poughkeepsie, and Buffalo among others.

    Their top states include:
  • New York (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against PATRIOT ONE MORTGAGE BANKERS based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    RSI BANK
    Similarity Rank: 30
    Schuyler Savings Bank
    Similarity Rank: 51
    North Jersey Federal Credit Union
    Similarity Rank: 124
    The First National Bank of Long Island
    Similarity Rank: 142
    N C P D Federal Credit Union
    Similarity Rank: 201
    Nassau Educators Federal Credit Union
    Similarity Rank: 481
    American Broadcast Employees Federal Credit Union
    Similarity Rank: 540
    Ridgewood Savings Bank
    Similarity Rank: 644
    GARDEN SAVINGS FEDERAL CREDIT UNION
    Similarity Rank: 664
    Bogota Savings Bank
    Similarity Rank: 680

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 59 $30,675,000 $519,915 $20,089 5.19%
    FHA 23 $12,625,000 $548,913 $27,982 4.68%

    For 2022, Patriot One Mortgage Bankers's most frequently originated type of loan was Conventional, with 59 originations. Their 2nd most popular type was FHA, with 23 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 49 $27,275,000 $556,633 $24,012 5.19%
    Cash Out Refi 23 $11,725,000 $509,783 $20,877 5.14%
    Refi 10 $4,300,000 $430,000 $17,203 4.08%

    For 2022, Patriot One Mortgage Bankers's most frequently cited loan purpose was Home Purchase, with 49 originations. The 2nd most popular reason was Cash Out Refi, with 23 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 81 $42,755,000 $527,840 $22,353 5.08%
    Other 1 $545,000 $545,000 $18,249 2.63%

    For 2022, Patriot One Mortgage Bankers's most frequently cited loan duration was 30 Year, with 81 originations. The 2nd most popular length was Other, with 1 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 76 $42,360,000 $557,368
    $2k-3k 3 $515,000 $171,667
    $3k-4k 2 $220,000 $110,000
    $4k-5k 1 $205,000 $205,000

    Patriot One Mortgage Bankers's average total fees were $22,353, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 76 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 21 $11,515,000 $548,333
    3-4% 20 $11,670,000 $583,500
    6-7% 20 $10,110,000 $505,500
    4-5% 17 $8,745,000 $514,412
    2.5-3% 2 $1,050,000 $525,000
    7-8% 1 $145,000 $145,000

    During 2022, Patriot One Mortgage Bankers's average interest rate for loans was 5.08%, while their most frequently originated rate bucket for loans was 5-6%, with 21 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 39 $19,995,000 $512,692 $21,780 5.19%
    $600k-1MM 21 $15,425,000 $734,524 $30,580 4.89%
    $200k-400k 15 $4,605,000 $307,000 $13,130 5.09%
    $100k-200k 4 $520,000 $130,000 $6,194 5.03%
    $1MM+ 2 $2,690,000 $1,345,000 $54,840 3.75%
    $100,000 or less 1 $65,000 $65,000 $5,785 0.00%

    2022 saw Patriot One Mortgage Bankers place emphasis on $400k-600k loans with 39 originations, totaling $19,995,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 28 $14,370,000 $513,214 $23,394 5.12%
    $150k-250k 22 $15,740,000 $715,455 $29,601 5.09%
    $75k-100k 14 $5,880,000 $420,000 $18,368 4.92%
    $250k+ 9 $5,555,000 $617,222 $20,902 4.89%
    $50k-75k 7 $1,395,000 $199,286 $9,388 5.28%
    $50k or less 2 $360,000 $180,000 $5,785 4.00%

    Patriot One Mortgage Bankers lent most frequently to those with incomes in the $100k-150k range, with 28 originations. The second most popular income band? $150k-250k, with 22 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    48% 11 $6,055,000 $550,455 $24,770 4.81%
    44% 10 $6,270,000 $627,000 $25,738 5.11%
    47% 7 $4,165,000 $595,000 $27,677 5.75%
    30-36% 7 $2,705,000 $386,429 $14,847 5.16%
    49% 5 $2,915,000 $583,000 $23,466 5.45%
    50-60% 5 $3,045,000 $609,000 $32,750 4.58%
    43% 5 $2,645,000 $529,000 $23,117 5.90%
    46% 5 $2,195,000 $439,000 $16,444 5.43%
    41% 4 $1,390,000 $347,500 $16,245 4.75%
    45% 4 $2,200,000 $550,000 $28,883 4.63%
    38% 3 $1,825,000 $608,333 $21,430 4.75%
    40% 3 $1,195,000 $398,333 $9,455 4.04%
    42% 3 $1,745,000 $581,667 $24,709 5.00%
    37% 2 $1,090,000 $545,000 $23,539 5.44%
    36% 2 $1,160,000 $580,000 $19,205 3.88%
    20-30% 2 $890,000 $445,000 $20,540 6.06%
    >60% 1 $295,000 $295,000 $5,785 4.00%
    39% 1 $975,000 $975,000 $13,933 3.50%
    <20% 1 $475,000 $475,000 $23,036 4.88%

    Patriot One Mortgage Bankers lent most frequently to those with DTI ratios of 48%, with 11 originations. The next most common DTI ratio? 44%, with 10 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Black 49 $26,505,000 $540,918 $24,312 5.10%
    White 18 $10,210,000 $567,222 $21,640 5.11%
    Asian 12 $5,790,000 $482,500 $17,679 4.89%
    Not provided 2 $570,000 $285,000 $13,250 5.06%
    Other Asian 1 $225,000 $225,000 $9,334 3.50%

    Approval Rates

    Total approvals of all applications
    94.26%

    Patriot One Mortgage Bankers has an average approval rate.

    Pick Rate

    Approvals leading to origination
    59.76%

    Patriot One Mortgage Bankers 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 82 $43,300,000 $528,049

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    82 $43,300,000 $528,049

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $2,710,000 $451,667 $15,222 4.73%
    40-60% 9 $4,595,000 $510,556 $20,521 5.42%
    60-80% 27 $13,465,000 $498,704 $20,637 5.01%
    80-100% 39 $22,465,000 $576,026 $25,379 5.04%
    Under 20% 1 $65,000 $65,000 $5,785 0.00%