Park Community Credit Union Mortgage Rates, Fees & Info
Louisville, KYLEI: 549300AZBM8V8SE0IT33
Tax ID: 61-0654642
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Mortgage Data
Review & Overview
Park Community Credit Union is a smaller credit union specializing in Home Purchase, Refi, and Cash Out Refi loans. Park Community Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Louisville, Lexington, Richmond, Mount Sterling, and Cincinnati among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)Park Community Credit Union 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. 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 12.52% | 4/28/24 |
| 30 Year Conventional Purchase | 6.25% | 4/28/24 |
| 30 Year Conventional Refi | 6.26% | 4/28/24 |
| 30 Year Cash-out Refi | 6.13% | 4/28/24 |
| 15 Year Conventional Purchase | 5.89% | 4/28/24 |
| 15 Year Conventional Refi | 5.74% | 4/28/24 |
| 15 Year Cash-out Refi | 5.74% | 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. | ||
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
871Origination Dollar Volume (All Markets)
$161,495,000Awards
PARK COMMUNITY CREDIT UNION - 2021
PARK COMMUNITY CREDIT UNION is a 2021 , due to their low .
For 2021, 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 |
|---|---|---|---|---|---|
| LOUISVILLE, KY (FHA|USDA|VA) | 709 | $130,785,000 | $184,464 | $2,082 | 3.42% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 55 | $12,705,000 | $231,000 | $2,162 | 3.61% |
| Richmond-Berea, KY (FHA|USDA|VA) | 54 | $9,700,000 | $179,630 | $2,010 | 3.23% |
| Mount Sterling, KY (FHA|USDA|VA) | 8 | $1,490,000 | $186,250 | $2,324 | 3.11% |
| Outside of Metro Areas | 11 | $1,315,000 | $119,545 | $1,824 | 3.56% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 2 | $780,000 | $390,000 | $2,845 | 4.00% |
| Danville, KY (FHA|USDA|VA) | 7 | $765,000 | $109,286 | $2,107 | 3.68% |
| Frankfort, KY (FHA|USDA|VA) | 4 | $710,000 | $177,500 | $2,311 | 3.84% |
| Bardstown, KY (FHA|USDA|VA) | 6 | $700,000 | $116,667 | $1,606 | 3.50% |
| London, KY (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $2,587 | 3.38% |
| ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) | 4 | $380,000 | $95,000 | $1,299 | 4.12% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $2,295 | 2.75% |
| Somerset, KY (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $2,421 | 3.00% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,433 | 2.50% |
| Central City, KY (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,440 | 2.75% |
| BOWLING GREEN, KY (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $1,632 | 3.25% |
| Madison, IN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,067 | 4.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 3.75% |
| Scottsburg, IN (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $1,982 | 3.00% |
| Maysville, KY (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $2,371 | 4.00% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 871 | $161,495,000 | $185,413 | $2,077 | 3.43% |
For 2021, Park Community Credit Union's most frequently originated type of loan was Conventional, with 871 originations.
Loan Reason
For 2021, Park Community Credit Union's most frequently cited loan purpose was Home Purchase, with 369 originations. The 2nd most popular reason was Refi, with 245 originations.
Loan Duration/Length
For 2021, Park Community Credit Union's most frequently cited loan duration was 30 Year, with 529 originations. The 2nd most popular length was 15 Year, with 293 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 699 | $119,415,000 | $170,837 |
Park Community Credit Union's average total fees were $2,162, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 699 originations.
Interest Rates
During 2021, Park Community Credit Union's average interest rate for loans was 3.37%, while their most frequently originated rate bucket for loans was 3-4%, with 435 originations.
Loan Sizing
2021 saw Park Community Credit Union place emphasis on $100k-200k loans with 417 originations, totaling $60,425,000 in origination value.
Applicant Income
Park Community Credit Union lent most frequently to those with incomes in the $50k or less range, with 236 originations. The second most popular income band? $50k-75k, with 186 originations.
Applicant Debt to Income Ratio
Park Community Credit Union lent most frequently to those with DTI ratios of 20-30%, with 215 originations. The next most common DTI ratio? 30-36%, with 145 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.41%
Park Community Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination87.94%
Park Community Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 871 | $161,495,000 | $185,413 |