Paramount Bank Mortgage Rates, Fees & Info

Hazelwood, MO

LEI: 549300KW3HYVC06WS898

Tax ID: 81-0647272

5 stars - Updated: 5/20/24 - out of 5 stars, based on 20 reviews

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

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Mortgage Data

Review & Overview

Paramount Bank is a smaller bank specializing in Home Purchase loans. Paramount Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: St. Louis, Chicago, Tampa, Kansas City, and San Francisco among others. We have data for 83 markets. (Some data included below & more in-depth data is available with an active subscription.)

Paramount Bank 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. Paramount Bank is typically an average 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
30 Year Conventional Purchase 6.75% 5/20/24
30 Year Conventional Refi 6.48% 5/20/24
30 Year Cash-out Refi 6.77% 5/20/24
30 Year FHA Purchase 7.13% 5/20/24
30 Year FHA Refi 7.61% 5/20/24
30 Year VA Purchase 6.66% 5/20/24
30 Year VA Refi 5.72% 5/20/24
30 Year USDA Purchase 6.66% 5/20/24
15 Year Conventional Purchase 6.26% 5/20/24
15 Year Conventional Refi 6.04% 5/20/24
15 Year Cash-out Refi 6.04% 5/20/24
15 Year VA Purchase 5.68% 5/20/24
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.

Paramount Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from Paramount 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

405

Origination Dollar Volume (All Markets)

$128,615,000

Relative Rate

Paramount Bank's average 30 year fixed mortgage rate was 6.9%.

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

This yields a difference of 0.42%.

Relative Fees (Closing Costs)

Paramount Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $5,788.

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
ST. LOUIS, MO-IL (FHA|USDA|VA) 194 $56,280,000 $290,103 $4,136 7.02%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 41 $12,585,000 $306,951 $7,790 7.03%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 29 $8,955,000 $308,793 $8,463 6.52%
Outside of Metro Areas 15 $3,945,000 $263,000 $5,640 6.92%
KANSAS CITY, MO-KS (FHA|USDA|VA) 5 $2,025,000 $405,000 $3,147 6.90%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 4 $1,900,000 $475,000 $16,583 6.22%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 2 $1,680,000 $840,000 $3,409 6.50%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 5 $1,675,000 $335,000 $5,882 6.80%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 4 $1,540,000 $385,000 $6,750 6.72%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 3 $1,405,000 $468,333 $9,974 7.04%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $1,350,000 $675,000 $12,899 6.56%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 3 $1,315,000 $438,333 $9,177 6.67%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 3 $1,295,000 $431,667 $11,539 6.83%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 2 $1,280,000 $640,000 $10,888 6.31%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 3 $1,275,000 $425,000 $6,064 7.63%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 5 $1,215,000 $243,000 $2,108 7.15%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 3 $1,205,000 $401,667 $5,340 6.46%
Clovis, NM (FHA|USDA|VA) 4 $1,160,000 $290,000 $8,782 6.53%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 3 $1,105,000 $368,333 $8,087 6.88%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 2 $1,000,000 $500,000 $13,547 5.94%
RALEIGH-CARY, NC (FHA|USDA|VA) 3 $995,000 $331,667 $6,798 6.75%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $775,000 $775,000 $11,552 6.88%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 2 $750,000 $375,000 $5,922 6.81%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 2 $750,000 $375,000 $3,908 7.19%
Georgetown, SC (FHA|USDA|VA) 1 $725,000 $725,000 $5,151 7.38%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $725,000 $725,000 $3,041 7.75%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $725,000 $725,000 $17,591 7.13%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $725,000 $725,000 $7,197 6.88%
WINCHESTER, VA-WV (FHA|USDA|VA) 2 $650,000 $325,000 $3,470 7.31%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1 $635,000 $635,000 $3,873 6.88%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $625,000 $625,000 $9,496 5.75%
Brainerd, MN (FHA|USDA|VA) 2 $620,000 $310,000 $4,724 7.50%
PANAMA CITY, FL (FHA|USDA|VA) 1 $605,000 $605,000 $4,728 7.63%
Breckenridge, CO (FHA|USDA|VA) 1 $595,000 $595,000 $3,188 6.63%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $575,000 $575,000 $3,081 7.00%
Starkville, MS (FHA|USDA|VA) 1 $515,000 $515,000 $9,184 6.25%
Glenwood Springs, CO (FHA|USDA|VA) 1 $505,000 $505,000 $0 8.50%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $495,000 $495,000 $3,589 7.38%
COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $465,000 $465,000 $9,086 6.75%
ASHEVILLE, NC (FHA|USDA|VA) 2 $450,000 $225,000 $7,920 7.56%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $445,000 $445,000 $5,385 6.75%
FAIRBANKS, AK (FHA|USDA|VA) 1 $435,000 $435,000 $10,448 6.25%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $425,000 $425,000 $15,021 7.00%
LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 1 $425,000 $425,000 $19,767 6.00%
GREELEY, CO (FHA|USDA|VA) 1 $425,000 $425,000 $5,116 6.88%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 2 $420,000 $210,000 $3,147 7.19%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $415,000 $415,000 $5,086 7.13%
DOVER, DE (FHA|USDA|VA) 1 $405,000 $405,000 $21,125 5.63%
JACKSONVILLE, FL (FHA|USDA|VA) 2 $400,000 $200,000 $0 6.75%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $385,000 $385,000 $10,463 7.00%
RICHMOND, VA (FHA|USDA|VA) 1 $375,000 $375,000 $4,189 6.50%
THE VILLAGES, FL (FHA|USDA|VA) 1 $355,000 $355,000 $2,355 7.00%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $345,000 $345,000 $2,818 7.25%
NILES, MI (FHA|USDA|VA) 2 $330,000 $165,000 $6,869 7.25%
RACINE, WI (FHA|USDA|VA) 1 $325,000 $325,000 $3,195 7.50%
MANSFIELD, OH (FHA|USDA|VA) 1 $305,000 $305,000 $2,248 6.50%
MADISON, WI (FHA|USDA|VA) 1 $305,000 $305,000 $6,260 7.88%
Silver City, NM (FHA|USDA|VA) 1 $295,000 $295,000 $14,022 6.50%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 1 $275,000 $275,000 $0 8.50%
OCALA, FL (FHA|USDA|VA) 1 $265,000 $265,000 $4,774 6.63%
PROVO-OREM, UT (FHA|USDA|VA) 1 $255,000 $255,000 $3,249 7.13%
WICHITA FALLS, TX (FHA|USDA|VA) 1 $255,000 $255,000 $11,084 7.50%
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 1 $255,000 $255,000 $4,999 6.63%
Warrensburg, MO (FHA|USDA|VA) 1 $235,000 $235,000 $6,041 7.13%
Sanford, NC (FHA|USDA|VA) 1 $225,000 $225,000 $3,608 6.00%
PITTSBURGH, PA (FHA|USDA|VA) 1 $215,000 $215,000 $7,956 7.50%
BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 1 $215,000 $215,000 $4,565 7.38%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $215,000 $215,000 $3,964 6.38%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $205,000 $205,000 $4,126 6.13%
ROCKFORD, IL (FHA|USDA|VA) 1 $185,000 $185,000 $3,608 7.88%
SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $185,000 $185,000 $3,546 6.25%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $175,000 $175,000 $5,410 7.13%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $165,000 $165,000 $0 6.50%
TALLAHASSEE, FL (FHA|USDA|VA) 1 $165,000 $165,000 $4,837 6.25%
EAST STROUDSBURG, PA (FHA|USDA|VA) 1 $165,000 $165,000 $4,071 6.38%
Clewiston, FL (FHA|USDA|VA) 1 $155,000 $155,000 $4,966 7.13%
Farmington, MO (FHA|USDA|VA) 1 $155,000 $155,000 $3,268 6.63%
ANCHORAGE, AK (FHA|USDA|VA) 1 $155,000 $155,000 $0 7.00%
WHEELING, WV-OH (FHA|USDA|VA) 1 $135,000 $135,000 $5,961 7.38%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $135,000 $135,000 $5,099 6.75%
PEORIA, IL (FHA|USDA|VA) 1 $125,000 $125,000 $5,786 6.25%
Batavia, NY (FHA|USDA|VA) 1 $105,000 $105,000 $4,325 7.13%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $85,000 $85,000 $3,623 6.50%
Paramount Bank's top markets include St. Louis, Chicago, Tampa, Kansas City, and San Francisco among others.

Their top states include:
  • Missouri (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Paramount 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 313 $99,635,000 $318,323 $4,571 6.97%
    FHA 49 $12,835,000 $261,939 $10,077 6.73%
    VA 38 $15,320,000 $403,158 $9,437 6.77%
    HELOC 3 $585,000 $195,000 n/a 8.67%
    USDA 2 $240,000 $120,000 $3,918 7.00%

    For 2023, Paramount Bank's most frequently originated type of loan was Conventional, with 313 originations. Their 2nd most popular type was FHA, with 49 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 367 $115,425,000 $314,510 $5,815 6.92%
    Cash Out Refi 19 $5,705,000 $300,263 $6,924 7.02%
    Refi 15 $5,795,000 $386,333 $3,152 7.28%
    Other 4 $1,690,000 $422,500 $2,481 6.47%

    For 2023, Paramount Bank's most frequently cited loan purpose was Home Purchase, with 367 originations. The 2nd most popular reason was Cash Out Refi, with 19 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 394 $124,980,000 $317,208 $5,788 6.90%
    1 Year 5 $1,225,000 $245,000 $7,434 9.00%
    20 Year 2 $540,000 $270,000 $2,611 6.50%
    15 Year 1 $185,000 $185,000 $4,971 6.38%
    3 Year 1 $775,000 $775,000 $0 8.50%
    5 Year 1 $405,000 $405,000 $0 9.00%
    Other 1 $505,000 $505,000 $0 8.50%

    For 2023, Paramount Bank's most frequently cited loan duration was 30 Year, with 394 originations. The 2nd most popular length was 1 Year, with 5 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 216 $67,880,000 $314,259
    $<1k 37 $14,695,000 $397,162
    $2k-3k 37 $9,125,000 $246,622
    $5k+ 34 $13,670,000 $402,059
    $3k-4k 33 $9,625,000 $291,667
    $4k-5k 20 $6,400,000 $320,000

    Paramount Bank's average total fees were $5,788, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 216 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 195 $64,095,000 $328,692
    7-8% 152 $45,320,000 $298,158
    5-6% 40 $14,320,000 $358,000
    Over 8% 18 $4,880,000 $271,111

    During 2023, Paramount Bank's average interest rate for loans was 6.90%, while their most frequently originated rate bucket for loans was 6-7%, with 195 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 189 $54,295,000 $287,275 $5,625 6.99%
    $100k-200k 90 $14,140,000 $157,111 $4,586 6.84%
    $400k-600k 81 $38,835,000 $479,444 $7,274 6.82%
    $600k-1MM 27 $18,995,000 $703,519 $7,171 6.89%
    $100,000 or less 17 $1,305,000 $76,765 $3,744 7.43%
    $1MM+ 1 $1,045,000 $1,045,000 $3,641 5.75%

    2023 saw Paramount Bank place emphasis on $200k-400k loans with 189 originations, totaling $54,295,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 98 $31,240,000 $318,776 $6,598 6.91%
    $150k-250k 85 $35,105,000 $413,000 $5,771 6.97%
    $75k-100k 78 $20,290,000 $260,128 $5,832 6.92%
    $50k-75k 58 $11,100,000 $191,379 $5,080 6.77%
    $250k+ 52 $24,440,000 $470,000 $5,391 6.97%
    $50k or less 27 $3,745,000 $138,704 $4,749 6.72%

    Paramount Bank lent most frequently to those with incomes in the $100k-150k range, with 98 originations. The second most popular income band? $150k-250k, with 85 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 76 $24,750,000 $325,658 $4,923 6.91%
    20-30% 56 $16,380,000 $292,500 $4,079 6.87%
    49% 30 $9,970,000 $332,333 $6,348 6.88%
    50-60% 27 $9,615,000 $356,111 $9,924 6.81%
    46% 23 $7,825,000 $340,217 $5,389 7.18%
    44% 19 $6,465,000 $340,263 $5,622 6.99%
    39% 18 $4,570,000 $253,889 $5,377 6.92%
    36% 16 $4,840,000 $302,500 $6,548 6.77%
    42% 15 $4,675,000 $311,667 $6,904 6.84%
    41% 15 $5,255,000 $350,333 $5,794 6.64%
    45% 15 $4,885,000 $325,667 $6,642 6.75%
    38% 14 $4,340,000 $310,000 $5,761 6.96%
    43% 14 $4,800,000 $342,857 $6,755 6.74%
    <20% 14 $3,960,000 $282,857 $4,262 7.11%
    37% 13 $4,295,000 $330,385 $8,161 6.88%
    47% 12 $3,100,000 $258,333 $4,315 7.17%
    48% 12 $3,500,000 $291,667 $5,812 6.95%
    40% 9 $2,695,000 $299,444 $4,530 6.86%

    Paramount Bank lent most frequently to those with DTI ratios of 30-36%, with 76 originations. The next most common DTI ratio? 20-30%, with 56 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 317 $99,415,000 $313,612 $5,500 6.90%
    Not provided 39 $13,915,000 $356,795 $5,947 6.99%
    Black 31 $8,095,000 $261,129 $7,918 6.77%
    Asian 8 $3,250,000 $406,250 $6,991 7.00%
    Not applicable 7 $2,695,000 $385,000 $0 8.79%
    Native Hawaiian or Islander 2 $1,060,000 $530,000 $5,309 7.13%
    American Indian 1 $185,000 $185,000 $12,937 6.50%

    Approval Rates

    Total approvals of all applications
    96.49%

    Paramount Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    30.86%

    Paramount Bank 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 405 $128,615,000 $317,568

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    405 $128,615,000 $317,568

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 19 $4,065,000 $213,947 $4,250 6.97%
    40-60% 48 $14,310,000 $298,125 $4,009 6.82%
    60-80% 114 $36,850,000 $323,246 $5,027 6.97%
    80-100% 217 $71,035,000 $327,350 $6,447 6.94%
    Over 100% 5 $1,735,000 $347,000 $15,171 7.15%
    Under 20% 2 $620,000 $310,000 $2,446 6.63%