Paragon Home Loans Mortgage Interest Rate and Cost Review

Is Paragon Home Loans a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Paragon Home Loans to those of other lenders for a comparable set of borrowers. Here is our review of Paragon Home Loans nationally:

Review ItemParagon Home Loans
Interest Ratesimilar to other lenders (-0.01%)
Loan Related Closing Costssimilar to other lenders (+$26)
National Rate and Closing Cost Star Rating(3.5)

On average, Paragon Home Loans’s interest rates were similar to those of other lenders (-0.01%). Its loan related closing costs were also similar to those of other lenders, with a difference of +$26. Overall, combining interest rates and closing costs we estimate that Paragon Home Loans tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 3.5 out of 5 stars. We maintain our independence by not accepting any money from the mortgage lenders we review. To visit Paragon Home Loans, its website is located at: https://www.paragonhomeloans.com.

Paragon Home Loans’s Rate Review by City

Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders in your area, click here. In particular, among the cities we track Paragon Home Loans was most active in:

  1. Syracuse, NY
  2. Plattsburgh, NY
  3. Buffalo, NY
  4. Elmira, NY
  5. Binghamton, NY

Paragon Home Loans’s Rate Review by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Paragon Home Loans originated Conforming, FHA, USDA and VA mortgages for new home purchases. It also originated Conforming mortgages for refinances. Its average interest rate and total loan related closing cost difference relative to other lenders for comparable borrowers by mortgages type is as follows.

Purchase/Refinance:
New Purchase MortgagesConformingFHAUSDAVA
Interest Rate Difference-0.01%+0.01%+0.01%+0.03%
Loan Related Closing Cost Difference+$34+$13+$20+$39
Cost Adjusted Rate Difference-0.01%+0.01%+0.01%+0.04%
National Star Rating(3.5)(3.5)(3.5)(3.5)
Refinance MortgagesConforming
Interest Rate Difference-0.01%
Loan Related Closing Cost Difference-$27
Cost Adjusted Rate Difference-0.01%
Average Star Rating(3.5)

As a summary, Paragon Home Loans is similar to other lenders for Conforming, FHA, USDA and VA purchase mortgages. For refinancing mortgages, Paragon Home Loans is similar to other lenders for Conforming mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.

Other information about Paragon Home Loans:

Registered name: Paragon Home Loans, Inc
Registered city and state: Liverpool, NY, 13088
Regulator: United States Department of Housing and Urban Development (HUD)

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Paragon Home Loans’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.