Park Community Credit Union Mortgage Rates, Fees & Info

Louisville, KY

LEI: 549300AZBM8V8SE0IT33

Tax ID: 61-0654642

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

    Park Community Credit Union is a smaller credit union specializing in Home Purchase loans. Park Community Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Louisville, Lexington, Richmond, Bardstown, and Frankfort among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Park Community Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Park Community Credit Union 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.

    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
    Home Equity Line of Credit (HELOC) 12.52% 11/22/24
    30 Year Conventional Purchase 6.25% 11/22/24
    30 Year Conventional Refi 6.26% 11/22/24
    30 Year Cash-out Refi 6.13% 11/22/24
    15 Year Conventional Purchase 5.89% 11/22/24
    15 Year Conventional Refi 5.74% 11/22/24
    15 Year Cash-out Refi 5.74% 11/22/24
    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.

    Park Community Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Park Community Credit Union. 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

    838

    Origination Dollar Volume (All Markets)

    $129,190,000

    Awards

    PARK COMMUNITY CREDIT UNION 30 Year Conventional Loans bronze PARK COMMUNITY CREDIT UNION 30 Year Conventional Loans silver PARK COMMUNITY CREDIT UNION 30 Year Conventional Loans silver PARK COMMUNITY CREDIT UNION 30 Year Conventional Loans gold
    Show all (4) 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
    LOUISVILLE, KY (FHA|USDA|VA) 646 $99,490,000 $154,009 $1,785 4.58%
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 79 $14,425,000 $182,595 $2,033 4.87%
    Richmond-Berea, KY (FHA|USDA|VA) 59 $7,935,000 $134,492 $2,023 4.60%
    Outside of Metro Areas 19 $2,225,000 $117,105 $1,803 4.54%
    Bardstown, KY (FHA|USDA|VA) 12 $1,940,000 $161,667 $1,538 4.68%
    Frankfort, KY (FHA|USDA|VA) 6 $1,020,000 $170,000 $2,463 4.46%
    ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) 5 $525,000 $105,000 $1,769 4.82%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $505,000 $505,000 $5,064 4.25%
    Danville, KY (FHA|USDA|VA) 2 $360,000 $180,000 $2,538 4.94%
    Scottsburg, IN (FHA|USDA|VA) 3 $265,000 $88,333 $2,048 4.54%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $135,000 $135,000 $1,575 3.25%
    BOWLING GREEN, KY (FHA|USDA|VA) 1 $125,000 $125,000 $2,235 3.75%
    Madison, IN (FHA|USDA|VA) 1 $95,000 $95,000 $2,028 5.38%
    COLUMBUS, IN (FHA|USDA|VA) 1 $65,000 $65,000 $1,213 3.50%
    Central City, KY (FHA|USDA|VA) 1 $55,000 $55,000 $2,184 4.00%
    Middlesborough, KY (FHA|USDA|VA) 1 $25,000 $25,000 $188 5.00%
    Park Community Credit Union's top markets include Louisville, Lexington, Richmond, Bardstown, and Frankfort among others.

    Their top states include:
  • Kentucky (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • Similar Lenders

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

    Peoples Exchange Bank
    Similarity Rank: 344
    Advanz Federal Credit Union
    Similarity Rank: 360
    The Peoples Bank
    Similarity Rank: 400
    MEMBERS HERITAGE Credit Union
    Similarity Rank: 640
    TRANSCEND
    Similarity Rank: 702
    COMMONWEALTH
    Similarity Rank: 720
    MORTGAGE SUPPLIERS, INC.
    Similarity Rank: 731
    Abound Federal Credit Union
    Similarity Rank: 752
    Kentucky Bank
    Similarity Rank: 924
    Traditional Bank, Inc.
    Similarity Rank: 962

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 838 $129,190,000 $154,165 $1,827 4.61%

    For 2019, Park Community Credit Union's most frequently originated type of loan was Conventional, with 838 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 505 $88,895,000 $176,030 $2,213 4.56%
    Cash Out Refi 120 $18,630,000 $155,250 $1,646 4.42%
    Refi 113 $16,895,000 $149,513 $1,751 4.15%
    Other 51 $2,405,000 $47,157 $325 5.51%
    Home Improvement 49 $2,365,000 $48,265 $212 5.75%

    For 2019, Park Community Credit Union's most frequently cited loan purpose was Home Purchase, with 505 originations. The 2nd most popular reason was Cash Out Refi, with 120 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 507 $87,705,000 $172,988 $2,165 4.21%
    15 Year 198 $30,930,000 $156,212 $1,366 5.25%
    10 Year 65 $2,945,000 $45,308 $363 5.60%
    5 Year 42 $2,590,000 $61,667 $161 4.79%
    20 Year 12 $2,010,000 $167,500 $2,298 3.81%
    1 Year 9 $1,545,000 $171,667 $0 5.55%
    Other 5 $1,465,000 $293,000 $0 5.30%

    For 2019, Park Community Credit Union's most frequently cited loan duration was 30 Year, with 507 originations. The 2nd most popular length was 15 Year, with 198 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 671 $98,135,000 $146,252

    Park Community Credit Union's average total fees were $2,165, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 671 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 303 $42,655,000 $140,776
    3-4% 290 $54,130,000 $186,655
    5-6% 197 $30,295,000 $153,782
    6-7% 40 $1,450,000 $36,250
    7-8% 6 $210,000 $35,000
    2.5-3% 1 $365,000 $365,000
    <2.5% 1 $85,000 $85,000

    During 2019, Park Community Credit Union's average interest rate for loans was 4.21%, while their most frequently originated rate bucket for loans was 4-5%, with 303 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 370 $53,110,000 $143,541 $2,124 4.50%
    $100,000 or less 281 $15,855,000 $56,423 $1,024 5.01%
    $200k-400k 152 $40,310,000 $265,197 $2,374 4.18%
    $400k-600k 26 $12,210,000 $469,615 $2,934 4.38%
    $600k-1MM 7 $4,845,000 $692,143 $2,820 4.53%
    $1MM+ 2 $2,860,000 $1,430,000 $0 5.13%

    2019 saw Park Community Credit Union place emphasis on $100k-200k loans with 370 originations, totaling $53,110,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 235 $26,365,000 $112,191 $1,861 4.52%
    $50k-75k 162 $19,380,000 $119,630 $1,697 4.56%
    $75k-100k 133 $20,665,000 $155,376 $1,886 4.30%
    $100k-150k 102 $17,600,000 $172,549 $1,773 4.44%
    $150k-250k 53 $14,555,000 $274,623 $1,884 4.47%
    $250k+ 11 $3,495,000 $317,727 $2,978 4.42%

    Park Community Credit Union lent most frequently to those with incomes in the $50k or less range, with 235 originations. The second most popular income band? $50k-75k, with 162 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 195 $28,065,000 $143,923 $1,828 4.42%
    30-36% 153 $21,975,000 $143,627 $1,780 4.50%
    <20% 94 $12,340,000 $131,277 $1,725 4.09%
    42% 37 $6,295,000 $170,135 $1,905 4.48%
    40% 32 $4,130,000 $129,063 $1,812 4.84%
    39% 31 $5,135,000 $165,645 $1,923 4.44%
    37% 30 $4,440,000 $148,000 $1,816 4.69%
    38% 20 $2,460,000 $123,000 $1,726 4.80%
    41% 18 $2,620,000 $145,556 $1,911 4.70%
    36% 13 $2,705,000 $208,077 $2,080 4.37%
    44% 9 $1,445,000 $160,556 $2,015 4.05%
    43% 8 $1,240,000 $155,000 $2,159 4.39%
    45% 5 $1,015,000 $203,000 $2,059 4.65%
    >60% 3 $225,000 $75,000 $999 3.75%
    50-60% 3 $695,000 $231,667 $2,063 4.25%
    48% 1 $145,000 $145,000 $2,291 4.63%
    49% 1 $155,000 $155,000 $1,990 4.88%
    46% 1 $105,000 $105,000 $2,404 3.88%
    47% 1 $205,000 $205,000 $2,410 3.75%

    Park Community Credit Union lent most frequently to those with DTI ratios of 20-30%, with 195 originations. The next most common DTI ratio? 30-36%, with 153 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 574 $85,900,000 $149,652 $1,831 4.44%
    Not applicable 142 $27,130,000 $191,056 $0 5.29%
    Black 65 $7,345,000 $113,000 $1,755 4.62%
    Not provided 46 $5,760,000 $125,217 $1,778 4.69%
    Asian 9 $2,555,000 $283,889 $2,216 4.14%
    Native Hawaiian or Islander 1 $315,000 $315,000 $2,098 3.88%
    American Indian 1 $185,000 $185,000 $2,567 5.00%

    Approval Rates

    Total approvals of all applications
    89.58%

    Park Community Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.77%

    Park Community Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 838 $129,190,000 $154,165

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 34 $14,420,000 $424,118
    Single Family (1-4 Units):Site-Built 804 $114,770,000 $142,749

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 66 $3,860,000 $58,485 $736 5.03%
    40-60% 45 $4,955,000 $110,111 $1,806 4.40%
    60-80% 234 $43,490,000 $185,855 $2,141 4.52%
    80-100% 415 $72,235,000 $174,060 $2,196 4.45%
    Over 100% 8 $2,670,000 $333,750 $2,169 4.81%
    Under 20% 70 $1,980,000 $28,286 $273 5.60%