Paramount Bank Mortgage Rates, Fees & Info
Hazelwood, MOLEI: 549300KW3HYVC06WS898
Tax ID: 81-0647272
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Mortgage Data
Bank Data
Review & Overview
Paramount Bank is a smaller bank specializing in Home Purchase and Other loans. Paramount 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.) Their top markets by origination volume include: St. Louis, Chicago, Denver, Edwards, and New York among others. We have data for 44 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.75% | 4/22/24 |
| 30 Year Conventional Refi | 6.48% | 4/22/24 |
| 30 Year Cash-out Refi | 6.77% | 4/22/24 |
| 30 Year FHA Purchase | 7.13% | 4/22/24 |
| 30 Year FHA Refi | 7.61% | 4/22/24 |
| 30 Year VA Purchase | 6.66% | 4/22/24 |
| 30 Year VA Refi | 5.72% | 4/22/24 |
| 30 Year USDA Purchase | 6.66% | 4/22/24 |
| 15 Year Conventional Purchase | 6.26% | 4/22/24 |
| 15 Year Conventional Refi | 6.04% | 4/22/24 |
| 15 Year Cash-out Refi | 6.04% | 4/22/24 |
| 15 Year VA Purchase | 5.68% | 4/22/24 |
| 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. | ||
Paramount Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
247Origination Dollar Volume (All Markets)
$1,235,000Employee count
13Top 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) | 184 | $920,000 | $5,000 | $2,015 | 4.90% |
| Outside of Metro Areas | 16 | $80,000 | $5,000 | $2,335 | 4.93% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 2 | $10,000 | $5,000 | $4,854 | 4.69% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 2 | $10,000 | $5,000 | $2,690 | 4.13% |
| Edwards, CO (FHA|USDA|VA) | 2 | $10,000 | $5,000 | $2,809 | 4.50% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 2 | $10,000 | $5,000 | $5,212 | 4.56% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 2 | $10,000 | $5,000 | $2,071 | 4.38% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $3,182 | 4.50% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $3,211 | 5.13% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $2,719 | 4.88% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $3,954 | 4.13% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $3,242 | 4.00% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $3,914 | 4.00% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $3,730 | 4.25% |
| EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $4,235 | 4.13% |
| Farmington, MO (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $3,383 | 3.99% |
| Fort Morgan, CO (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $2,661 | 4.50% |
| Glenwood Springs, CO (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $0 | 4.75% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $3,462 | 4.88% |
| GREELEY, CO (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $3,698 | 4.88% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $3,107 | 5.00% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $2,473 | 4.63% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $6,961 | 4.13% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $2,857 | 4.88% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $4,230 | 4.50% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $5,385 | 4.00% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $4,728 | 4.13% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $3,558 | 4.13% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $2,249 | 4.63% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $3,646 | 4.50% |
| ROCHESTER, MN (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $2,808 | 4.50% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $3,449 | 5.00% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $2,558 | 5.13% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $2,517 | 4.75% |
| Tullahoma-Manchester, TN (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $3,486 | 4.38% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $3,223 | 4.75% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $6,022 | 4.75% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $0 | 6.00% |
| BANGOR, ME (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $3,833 | 4.25% |
| BOULDER, CO (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $3,309 | 4.50% |
| BOWLING GREEN, KY (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $3,637 | 4.88% |
| BRUNSWICK, GA (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $3,928 | 4.50% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $2,888 | 4.75% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $2,580 | 4.88% |
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
For 2018, Paramount Bank's most frequently originated type of loan was Conventional, with 242 originations. Their 2nd most popular type was HELOC, with 3 originations.
Loan Reason
For 2018, Paramount Bank's most frequently cited loan purpose was Home Purchase, with 150 originations. The 2nd most popular reason was Other, with 51 originations.
Loan Duration/Length
For 2018, Paramount Bank's most frequently cited loan duration was 30 Year, with 170 originations. The 2nd most popular length was 10 Year, with 35 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 231 | $1,155,000 | $5,000 |
| $1k-2k | 11 | $55,000 | $5,000 |
| $2k-3k | 1 | $5,000 | $5,000 |
| $3k-4k | 1 | $5,000 | $5,000 |
Paramount Bank's average total fees were $2,936, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 231 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 186 | $930,000 | $5,000 |
| 5-6% | 45 | $225,000 | $5,000 |
| 3-4% | 10 | $50,000 | $5,000 |
| 6-7% | 6 | $30,000 | $5,000 |
During 2018, Paramount Bank's average interest rate for loans was 4.70%, while their most frequently originated rate bucket for loans was 4-5%, with 186 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 247 | $1,235,000 | $5,000 | $2,304 | 4.83% |
2018 saw Paramount Bank place emphasis on $100,000 or less loans with 247 originations, totaling $1,235,000 in origination value.
Applicant Income
Paramount Bank lent most frequently to those with incomes in the $250k+ range, with 74 originations. The second most popular income band? $150k-250k, with 49 originations.
Applicant Debt to Income Ratio
Paramount Bank lent most frequently to those with DTI ratios of 20-30%, with 68 originations. The next most common DTI ratio? 30-36%, with 53 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.32%
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 origination82.19%
Paramount Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 247 | $1,235,000 | $5,000 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 247 | $1,235,000 | $5,000 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Under 20% | 247 | $1,235,000 | $5,000 | $2,304 | 4.83% |
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Paramount GR Holdings, LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 13.3% |
| Paramount GR Holdings, LLC | Conventional home mortgage | Closing on a mortgage | 1 | 6.7% |
| Paramount GR Holdings, LLC | Conventional home mortgage | Credit monitoring or identity theft protection services | 1 | 6.7% |
| Paramount GR Holdings, LLC | Conventional home mortgage | Struggling to pay mortgage | 1 | 6.7% |
| Paramount GR Holdings, LLC | Conventional home mortgage | Trouble during payment process | 5 | 33.3% |
| Paramount GR Holdings, LLC | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 13.3% |
| Paramount GR Holdings, LLC | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 1 | 6.7% |
| Paramount GR Holdings, LLC | Home equity loan or line of credit (HELOC) | Closing on a mortgage | 1 | 6.7% |
| Paramount GR Holdings, LLC | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 6.7% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Paramount Bank | 90 Village Square Shopping Center Hazelwood, MO 63042 | Full Service B&M | $20,026 |
For 2018, Paramount Bank had 1 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $1,383 |
| Net interest income | $1,085 |
| Total noninterest income | $1,458 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $16 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $1,442 |
| Pre-tax net operating income | $85 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $131 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $131 |
| Minority interest net income | $0 |
| Net income | $131 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $131 |
Paramount Bank's gross interest income from loans was $1,383,000.
Paramount Bank's net interest income from loans was $1,085,000.
Paramount Bank's fee based income from loans was $16,000.
Paramount Bank's net income from loans was $131,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $298 |
| Provision for credit losses | $149 |
| Total noninterest expense | $2,309 |
| Salaries and employee benefits | $1,325 |
| Premises and equipment expense | $166 |
| Additional noninterest expense | $818 |
| Applicable income taxes | $-46 |
| Net charge-offs | $-13 |
| Cash dividends | $0 |
Paramount Bank's interest expense for loans was $298,000.
Paramount Bank's payroll and benefits expense were $1,325,000.
Paramount Bank's property, plant and equipment expenses $166,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 0.0% |
| Real Estate loans | 0.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 0.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 0.0% |
| HELOC loans | 0.0% |
| All other family | 0.0% |
| Commercial & industrial loans | 0.0% |
| Personal loans | 0.0% |
| Credit card loans | 0.0% |
| Other individual loans | 0.0% |
| Auto loans | 0.0% |
| Other consumer loans | 0.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $25,425 |
| Deposits held in domestic offices | $25,425 |
| Deposits by Individuals, partnerships, and corporations | $22,690 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $245 |
| Deposits by Commercial banks and other depository institutions in U.S. | $2,490 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $4,143 |
| Demand deposits | $2,840 |
| Nontransaction accounts | $21,282 |
| Money market deposit accounts (MMDAs) | $6,743 |
| Other savings deposits (excluding MMDAs) | $497 |
| Total time deposits | $14,042 |
| Total time and savings deposits | $22,585 |
| Noninterest-bearing deposits | $3,232 |
| Interest-bearing deposits | $22,193 |
| Retail deposits | $23,287 |
| IRAs and Keogh plan accounts | $582 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $36,070 |
| Cash & Balances due from depository institutions | $3,111 |
| Interest-bearing balances | $2,657 |
| Total securities | $0 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $28,699 |
| Loan and leases loss allowance | $162 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $1,182 |
| Other real estate owned | $1,990 |
| Goodwill and other intangibles | $655 |
| All other assets | $433 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $36,070 |
| Total Liabilities | $28,481 |
| Total deposits | $25,425 |
| Interest-bearing deposits | $22,193 |
| Deposits held in domestic offices | $25,425 |
| % insured (estimated) | $88 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $3,000 |
| Subordinated debt | $0 |
| All other liabilities | $56 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $28,699 |
| Loan and leases loss allowance | $162 |
| Total loans and leases (domestic) | $28,861 |
| All real estate loans | $27,740 |
| Real estate loans in domestic offices | $27,740 |
| Construction and development loans | $1,942 |
| Residential 1-4 family construction | $1,213 |
| Other construction, all land development and other land | $729 |
| Loans secured by nonfarm nonresidential properties | $7,415 |
| Nonfarm nonresidential secured by owner-occupied properties | $4,215 |
| Commercial real estate & other non-farm, non-residential | $3,200 |
| Multifamily residential real estate | $308 |
| 1-4 family residential loans | $18,075 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $999 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $122 |
| Credit card loans | $0 |
| Related Plans | $0 |
| Consumer Auto Loans | $23 |
| Other loans to individuals | $99 |
| All other loans & leases | $0 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $0 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $0 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $0 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
Paramount Bank had $28,699,000 of loans outstanding in 2018. $27,740,000 of loans were in real estate loans. $1,942,000 of loans were in development loans. $308,000 of loans were in multifamily mortgage loans. $18,075,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $23,000 of loans were in the auto loan category.
Small Business Loans
| Categorization | # of Loans in Category | $ amount of loans (in 000's) | Average $/loan |
|---|---|---|---|
| Nonfarm, nonresidential loans - <$1MM | 25 | $6,364 | $254,560 |
| Nonfarm, nonresidential loans - <$100k | 2 | $142 | $71,000 |
| Nonfarm, nonresidential loans - $100-250k | 11 | $1,650 | $150,000 |
| Nonfarm, nonresidential loans - $250k-1MM | 12 | $4,572 | $381,000 |
| Commercial & Industrial, US addressed loans - <$1MM | 4 | $999 | $249,750 |
| Commercial & Industrial, US addressed loans - <$100k | 1 | $100 | $100,000 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 3 | $899 | $299,667 |