The Park National Bank Mortgage Rates, Fees & Info

Newark, OH

LEI: 549300CEHN5CVC6INV48

Tax ID: 31-1198067

5 stars - Updated: 6/16/24 - out of 5 stars, based on 61 reviews

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

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Mortgage Data

Review & Overview

The Park National Bank is a smaller bank specializing in Home Purchase loans. The Park National Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Columbus, Cincinnati, Zanesville, Mount Vernon, and Greenville among others. We have data for 101 markets. (Some data included below & more in-depth data is available with an active subscription.)

The Park National Bank 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. The Park National Bank 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 relatively high 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) 6.14% 6/16/24
30 Year Conventional Purchase 6.98% 6/16/24
30 Year Conventional Refi 7.09% 6/16/24
30 Year Cash-out Refi 6.76% 6/16/24
30 Year FHA Purchase 7.80% 6/16/24
30 Year VA Purchase 6.23% 6/16/24
30 Year VA Refi 6.06% 6/16/24
30 Year USDA Purchase 6.64% 6/16/24
15 Year Conventional Purchase 6.30% 6/16/24
15 Year Conventional Refi 6.58% 6/16/24
15 Year Cash-out Refi 6.58% 6/16/24
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.

The Park National Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from The Park National Bank. 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

3,690

Origination Dollar Volume (All Markets)

$619,470,000
Show all (14) awards

Relative Rate

The Park National Bank's average 30 year fixed mortgage rate was 6.8%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.32%.

Relative Fees (Closing Costs)

The Park National Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $4,434.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
COLUMBUS, OH (FHA|USDA|VA) 1,098 $178,910,000 $162,942 $4,267 7.51%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 248 $51,390,000 $207,218 $3,180 7.44%
Zanesville, OH (FHA|USDA|VA) 327 $37,595,000 $114,969 $3,355 7.74%
Mount Vernon, OH (FHA|USDA|VA) 273 $33,705,000 $123,462 $3,362 7.72%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 137 $32,785,000 $239,307 $4,093 7.28%
LOUISVILLE, KY (FHA|USDA|VA) 16 $32,460,000 $2,028,750 $3,939 7.20%
MANSFIELD, OH (FHA|USDA|VA) 296 $30,920,000 $104,459 $3,110 7.54%
ASHEVILLE, NC (FHA|USDA|VA) 49 $23,045,000 $470,306 $5,584 7.17%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 42 $20,300,000 $483,333 $5,236 7.49%
DAYTON-KETTERING, OH (FHA|USDA|VA) 140 $18,950,000 $135,357 $3,640 7.40%
Outside of Metro Areas 96 $17,150,000 $178,646 $4,167 7.36%
SPRINGFIELD, OH (FHA|USDA|VA) 133 $14,785,000 $111,165 $3,028 7.51%
SPARTANBURG, SC (FHA|USDA|VA) 61 $13,715,000 $224,836 $3,767 7.51%
Ashland, OH (FHA|USDA|VA) 112 $11,970,000 $106,875 $3,438 7.54%
Greenville, OH (FHA|USDA|VA) 91 $7,045,000 $77,418 $2,791 7.44%
Coshocton, OH (FHA|USDA|VA) 81 $6,425,000 $79,321 $3,274 7.65%
Bucyrus-Galion, OH (FHA|USDA|VA) 71 $6,125,000 $86,268 $2,997 7.57%
Marion, OH (FHA|USDA|VA) 29 $6,045,000 $208,448 $2,309 7.38%
Celina, OH (FHA|USDA|VA) 40 $5,460,000 $136,500 $3,693 7.59%
Cambridge, OH (FHA|USDA|VA) 39 $4,445,000 $113,974 $3,077 7.58%
Wooster, OH (FHA|USDA|VA) 30 $4,230,000 $141,000 $3,560 7.36%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 7 $4,035,000 $576,429 $3,587 7.15%
Urbana, OH (FHA|USDA|VA) 35 $3,475,000 $99,286 $2,498 7.79%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 5 $3,205,000 $641,000 $6,466 7.45%
New Philadelphia-Dover, OH (FHA|USDA|VA) 26 $2,720,000 $104,615 $2,379 7.39%
CANTON-MASSILLON, OH (FHA|USDA|VA) 13 $2,385,000 $183,462 $4,069 7.28%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 3 $2,375,000 $791,667 $7,980 7.29%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 4 $2,360,000 $590,000 $6,935 7.09%
Seneca, SC (FHA|USDA|VA) 7 $2,025,000 $289,286 $3,826 7.00%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 9 $1,815,000 $201,667 $4,489 8.26%
AKRON, OH (FHA|USDA|VA) 10 $1,720,000 $172,000 $2,661 7.96%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 2 $1,700,000 $850,000 $0 7.06%
Sidney, OH (FHA|USDA|VA) 12 $1,590,000 $132,500 $3,572 7.61%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 5 $1,555,000 $311,000 $4,121 7.18%
Key West, FL (FHA|USDA|VA) 1 $1,505,000 $1,505,000 $10,794 6.38%
Boone, NC (FHA|USDA|VA) 3 $1,495,000 $498,333 $4,772 6.58%
Athens, OH (FHA|USDA|VA) 19 $1,435,000 $75,526 $2,598 7.68%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $1,380,000 $690,000 $6,382 6.88%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $1,270,000 $635,000 $8,128 6.44%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 3 $1,265,000 $421,667 $6,694 7.38%
Bozeman, MT (FHA|USDA|VA) 1 $1,205,000 $1,205,000 $0 6.75%
Traverse City, MI (FHA|USDA|VA) 1 $1,105,000 $1,105,000 $0 7.23%
STATE COLLEGE, PA (FHA|USDA|VA) 1 $1,035,000 $1,035,000 $5,644 5.88%
Norwalk, OH (FHA|USDA|VA) 10 $990,000 $99,000 $3,791 7.24%
Wapakoneta, OH (FHA|USDA|VA) 8 $990,000 $123,750 $2,977 7.72%
PUNTA GORDA, FL (FHA|USDA|VA) 4 $860,000 $215,000 $3,714 7.41%
KNOXVILLE, TN (FHA|USDA|VA) 2 $830,000 $415,000 $4,703 6.50%
MORRISTOWN, TN (FHA|USDA|VA) 2 $810,000 $405,000 $5,626 7.18%
Chillicothe, OH (FHA|USDA|VA) 3 $795,000 $265,000 $4,432 7.71%
Forest City, NC (FHA|USDA|VA) 1 $775,000 $775,000 $4,925 7.13%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 3 $705,000 $235,000 $7,542 6.62%
Bellefontaine, OH (FHA|USDA|VA) 7 $695,000 $99,286 $3,478 7.97%
LIMA, OH (FHA|USDA|VA) 2 $690,000 $345,000 $4,395 7.56%
PORT ST. LUCIE, FL (FHA|USDA|VA) 2 $680,000 $340,000 $4,149 7.06%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $565,000 $565,000 $0 7.99%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 4 $560,000 $140,000 $4,672 7.16%
Wilmington, OH (FHA|USDA|VA) 5 $515,000 $103,000 $3,597 7.53%
Sevierville, TN (FHA|USDA|VA) 1 $505,000 $505,000 $0 6.64%
TOLEDO, OH (FHA|USDA|VA) 4 $460,000 $115,000 $3,760 6.86%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $455,000 $455,000 $3,632 7.25%
Cornelia, GA (FHA|USDA|VA) 1 $445,000 $445,000 $6,595 7.50%
Cullowhee, NC (FHA|USDA|VA) 1 $405,000 $405,000 $0 6.48%
THE VILLAGES, FL (FHA|USDA|VA) 2 $370,000 $185,000 $0 6.95%
RALEIGH-CARY, NC (FHA|USDA|VA) 2 $350,000 $175,000 $3,203 6.85%
Jackson, OH (FHA|USDA|VA) 2 $340,000 $170,000 $3,590 7.69%
Tullahoma-Manchester, TN (FHA|USDA|VA) 1 $305,000 $305,000 $0 8.50%
Salem, OH (FHA|USDA|VA) 2 $290,000 $145,000 $5,122 7.31%
Somerset, KY (FHA|USDA|VA) 1 $275,000 $275,000 $3,182 6.99%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $255,000 $255,000 $4,417 6.13%
WHEELING, WV-OH (FHA|USDA|VA) 1 $235,000 $235,000 $0 9.50%
Gaffney, SC (FHA|USDA|VA) 1 $235,000 $235,000 $4,952 6.75%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $225,000 $225,000 $4,004 6.38%
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 2 $220,000 $110,000 $2,516 6.94%
Portsmouth, OH (FHA|USDA|VA) 1 $215,000 $215,000 $3,860 6.63%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $205,000 $205,000 $8,655 7.13%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $205,000 $205,000 $0 7.08%
Union, SC (FHA|USDA|VA) 1 $205,000 $205,000 $3,769 7.00%
ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) 2 $200,000 $100,000 $1,499 7.06%
CHARLESTON, WV (FHA|USDA|VA) 1 $195,000 $195,000 $3,231 6.88%
WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) 1 $185,000 $185,000 $0 7.75%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $175,000 $175,000 $3,586 6.38%
MUNCIE, IN (FHA|USDA|VA) 2 $170,000 $85,000 $2,257 6.97%
PANAMA CITY, FL (FHA|USDA|VA) 1 $155,000 $155,000 $3,673 7.25%
Orangeburg, SC (FHA|USDA|VA) 1 $155,000 $155,000 $3,939 6.38%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $145,000 $145,000 $3,792 6.38%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $135,000 $135,000 $2,439 7.13%
Sault Ste. Marie, MI (FHA|USDA|VA) 1 $135,000 $135,000 $0 8.50%
PARKERSBURG-VIENNA, WV (FHA|USDA|VA) 1 $125,000 $125,000 $0 7.75%
Connersville, IN (FHA|USDA|VA) 1 $125,000 $125,000 $0 7.49%
Roanoke Rapids, NC (FHA|USDA|VA) 1 $115,000 $115,000 $4,851 6.63%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $115,000 $115,000 $0 9.25%
Tiffin, OH (FHA|USDA|VA) 1 $115,000 $115,000 $2,464 7.12%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $105,000 $105,000 $0 7.75%
Washington Court House, OH (FHA|USDA|VA) 3 $85,000 $28,333 $2,008 7.54%
Sandusky, OH (FHA|USDA|VA) 1 $55,000 $55,000 $0 7.75%
Georgetown, SC (FHA|USDA|VA) 1 $55,000 $55,000 $0 7.75%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $45,000 $45,000 $0 8.50%
Point Pleasant, WV-OH (FHA|USDA|VA) 1 $35,000 $35,000 $2,986 7.38%
WINSTON-SALEM, NC (FHA|USDA|VA) 1 $25,000 $25,000 $0 8.00%
WILMINGTON, NC (FHA|USDA|VA) 1 $25,000 $25,000 $0 8.50%
Van Wert, OH (FHA|USDA|VA) 1 $25,000 $25,000 $0 8.00%
The Park National Bank's top markets include Columbus, Cincinnati, Zanesville, Mount Vernon, and Greenville among others.

Their top states include:
  • Ohio (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against The Park National Bank 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 2,208 $505,240,000 $228,822 $3,707 7.04%
    HELOC 1,461 $109,685,000 $75,075 n/a 8.25%
    VA 11 $2,685,000 $244,091 $7,434 6.17%
    FHA 8 $1,450,000 $181,250 $7,413 6.59%
    USDA 2 $410,000 $205,000 $6,103 6.06%

    For 2023, The Park National Bank's most frequently originated type of loan was Conventional, with 2,208 originations. Their 2nd most popular type was HELOC, with 1,461 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,573 $431,165,000 $274,104 $4,435 6.91%
    Home Improvement 997 $72,805,000 $73,024 $1,837 8.07%
    Refi 666 $74,640,000 $112,072 $2,611 7.90%
    Other 406 $34,220,000 $84,286 $2,147 7.98%
    Cash Out Refi 48 $6,640,000 $138,333 $3,565 6.64%

    For 2023, The Park National Bank's most frequently cited loan purpose was Home Purchase, with 1,573 originations. The 2nd most popular reason was Home Improvement, with 997 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 1,487 $123,375,000 $82,969 $2,213 8.23%
    30 Year 1,393 $353,105,000 $253,485 $4,434 6.80%
    15 Year 350 $28,840,000 $82,400 $2,276 7.60%
    20 Year 210 $38,670,000 $184,143 $3,715 7.08%
    Other 169 $43,055,000 $254,763 $387 7.44%
    1 Year 54 $15,510,000 $287,222 $2,431 8.08%
    5 Year 26 $16,410,000 $631,154 $1,637 7.20%
    3 Year 1 $505,000 $505,000 $0 7.53%

    For 2023, The Park National Bank's most frequently cited loan duration was 10 Year, with 1,487 originations. The 2nd most popular length was 30 Year, with 1,393 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,283 $300,335,000 $234,088
    $<1k 506 $65,400,000 $129,249
    $5k+ 95 $20,785,000 $218,789
    $2k-3k 26 $5,500,000 $211,538
    $3k-4k 11 $2,535,000 $230,455
    $4k-5k 9 $2,415,000 $268,333

    The Park National Bank's average total fees were $4,434, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,283 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 1,259 $180,895,000 $143,681
    Over 8% 1,173 $93,775,000 $79,945
    6-7% 1,119 $302,745,000 $270,550
    5-6% 137 $40,325,000 $294,343
    2.5-3% 1 $855,000 $855,000
    3-4% 1 $875,000 $875,000

    During 2023, The Park National Bank's average interest rate for loans was 6.80%, while their most frequently originated rate bucket for loans was 7-8%, with 1,259 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,830 $86,400,000 $47,213 $2,024 7.92%
    $100k-200k 953 $135,585,000 $142,272 $3,764 7.22%
    $200k-400k 630 $168,860,000 $268,032 $5,047 7.07%
    $400k-600k 173 $82,195,000 $475,116 $5,141 7.00%
    $600k-1MM 67 $49,915,000 $745,000 $6,100 6.80%
    $1MM+ 37 $96,515,000 $2,608,514 $8,357 6.78%

    2023 saw The Park National Bank place emphasis on $100,000 or less loans with 1,830 originations, totaling $86,400,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 844 $85,860,000 $101,730 $3,423 7.48%
    $100k-150k 661 $100,705,000 $152,352 $4,154 7.68%
    $50k or less 626 $45,490,000 $72,668 $3,130 7.38%
    $75k-100k 532 $67,090,000 $126,109 $3,787 7.60%
    $150k-250k 395 $88,685,000 $224,519 $4,470 7.58%
    $250k+ 207 $102,495,000 $495,145 $5,455 7.53%

    The Park National Bank lent most frequently to those with incomes in the $50k-75k range, with 844 originations. The second most popular income band? $100k-150k, with 661 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 647 $80,345,000 $124,181 $3,505 7.52%
    30-36% 568 $80,970,000 $142,553 $3,623 7.47%
    <20% 212 $23,990,000 $113,160 $3,690 7.66%
    40% 171 $28,625,000 $167,398 $3,714 7.55%
    42% 168 $22,990,000 $136,845 $3,196 7.52%
    41% 163 $23,865,000 $146,411 $3,263 7.44%
    43% 152 $22,600,000 $148,684 $3,722 7.63%
    47% 150 $23,610,000 $157,400 $4,637 7.86%
    37% 144 $23,080,000 $160,278 $3,410 7.55%
    45% 144 $25,530,000 $177,292 $4,548 7.54%
    46% 142 $20,710,000 $145,845 $4,650 7.70%
    39% 136 $21,610,000 $158,897 $3,288 7.49%
    38% 130 $17,280,000 $132,923 $3,586 7.36%
    36% 125 $20,765,000 $166,120 $3,897 7.52%
    44% 110 $15,540,000 $141,273 $3,934 7.57%
    50-60% 90 $26,170,000 $290,778 $4,726 7.44%
    48% 56 $13,500,000 $241,071 $5,014 7.20%
    49% 50 $9,800,000 $196,000 $4,388 7.44%
    >60% 21 $4,405,000 $209,762 $3,324 7.39%

    The Park National Bank lent most frequently to those with DTI ratios of 20-30%, with 647 originations. The next most common DTI ratio? 30-36%, with 568 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 3,105 $450,765,000 $145,174 $3,515 7.56%
    Not applicable 224 $102,540,000 $457,768 $0 7.29%
    Not provided 167 $30,445,000 $182,305 $4,225 7.57%
    Black 149 $24,795,000 $166,409 $5,932 6.99%
    Asian 28 $7,740,000 $276,429 $6,142 6.96%
    American Indian 13 $1,975,000 $151,923 $4,006 7.19%
    Asian Indian 3 $745,000 $248,333 $3,877 6.68%
    Native Hawaiian or Islander 1 $465,000 $465,000 $6,841 6.75%

    Approval Rates

    Total approvals of all applications
    82.47%

    The Park National Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    81.84%

    The Park National Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 3,690 $619,470,000 $167,878

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    3,690 $619,470,000 $167,878

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 769 $74,985,000 $97,510 $2,530 7.92%
    40-60% 359 $95,755,000 $266,727 $4,023 7.30%
    60-80% 596 $193,080,000 $323,960 $4,458 7.04%
    80-100% 888 $209,960,000 $236,441 $4,461 6.89%
    Over 100% 3 $855,000 $285,000 $13,718 7.21%
    Under 20% 1,074 $44,330,000 $41,276 $1,330 8.08%