Park Square Home Mortgage Rates, Fees & Info

ORLANDO, FL

LEI: 549300LBBI5HSCNM6E20

Tax ID: 82-2892065

3.4 stars - out of 5 stars, based on 22 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Review & Overview

    Park Square Home Mortgage is a smaller mortgage company specializing in loans. Park Square Home Mortgage has a high proportion of conventional loans. They have a a high proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Tampa, Lakeland, Orlando, Deltona, and North Port among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Park Square Home Mortgage 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 Square Home Mortgage is typically a high 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
    30 Year Conventional Purchase 6.59% 3/19/23
    30 Year Conventional Refi 6.34% 3/19/23
    30 Year Cash-out Refi 6.38% 3/19/23
    30 Year FHA Purchase 7.25% 3/19/23
    30 Year VA Purchase 6.23% 3/19/23
    30 Year USDA Purchase 6.62% 3/19/23
    15 Year Conventional Purchase 5.96% 3/19/23
    15 Year FHA Purchase 7.11% 3/19/23
    15 Year VA Purchase 6.34% 3/19/23
    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.


    Originations

    490

    Origination Dollar Volume (All Markets)

    $143,380,000
    Show all (6) awards

    Relative Rate

    Park Square Home Mortgage's average 30 year fixed mortgage rate was 3%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.15%.

    Relative Fees (Closing Costs)

    Park Square Home Mortgage's average total fees/closing costs for a 30 year fixed rate mortgage were $6,775.

    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 $4,750.

    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
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 173 $49,465,000 $285,925 $5,714 2.97%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 148 $42,650,000 $288,176 $7,318 3.01%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 86 $27,540,000 $320,233 $7,302 3.05%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 63 $18,615,000 $295,476 $7,320 2.86%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 19 $4,685,000 $246,579 $5,564 3.05%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $425,000 $425,000 $4,934 2.87%
    Park Square Home Mortgage's top markets include Tampa, Lakeland, Orlando, Deltona, and North Port among others.

    Their top states include:
  • Florida (FHA|USDA|VA)
  • Similar Lenders

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

    NEAL COMMUNITIES FUNDING, LLC
    Similarity Rank: 1048
    LAUNCH FEDERAL CREDIT UNION
    Similarity Rank: 1672
    Citizens First Bank
    Similarity Rank: 1696
    SAN ANTONIO CITIZENS
    Similarity Rank: 1792
    RAILROAD & INDUSTRIAL
    Similarity Rank: 1974
    Brannen Bank
    Similarity Rank: 2802
    VYSTAR
    Similarity Rank: 3741
    INSIGHT
    Similarity Rank: 3809
    Shea Mortgage Inc.
    Similarity Rank: 4104

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 256 $71,320,000 $278,594 $4,900 3.07%
    FHA 172 $51,970,000 $302,151 $9,852 2.91%
    VA 56 $18,330,000 $327,321 $4,915 2.82%
    USDA 6 $1,760,000 $293,333 $7,761 2.89%

    For 2021, Park Square Home Mortgage's most frequently originated type of loan was Conventional, with 256 originations. Their 2nd most popular type was FHA, with 172 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 485 $141,435,000 $291,619 $6,698 2.98%
    Refi 4 $1,500,000 $375,000 $4,907 3.00%
    Cash Out Refi 1 $445,000 $445,000 $4,545 3.13%

    For 2021, Park Square Home Mortgage's most frequently cited loan purpose was Home Purchase, with 485 originations. The 2nd most popular reason was Refi, with 4 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 471 $139,115,000 $295,361 $6,775 3.00%
    15 Year 14 $2,850,000 $203,571 $4,293 2.52%
    20 Year 5 $1,415,000 $283,000 $4,269 3.13%

    For 2021, Park Square Home Mortgage's most frequently cited loan duration was 30 Year, with 471 originations. The 2nd most popular length was 15 Year, with 14 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 299 $87,295,000 $291,957
    $<1k 106 $32,210,000 $303,868
    $2k-3k 37 $10,115,000 $273,378
    $3k-4k 18 $5,410,000 $300,556
    $5k+ 17 $4,885,000 $287,353
    $4k-5k 12 $3,220,000 $268,333

    Park Square Home Mortgage's average total fees were $6,775, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 299 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 276 $84,880,000 $307,536
    3-4% 165 $45,525,000 $275,909
    <2.5% 41 $11,005,000 $268,415
    4-5% 8 $1,970,000 $246,250

    During 2021, Park Square Home Mortgage's average interest rate for loans was 3.00%, while their most frequently originated rate bucket for loans was 2.5-3%, with 276 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 419 $122,565,000 $292,518 $6,978 2.98%
    $100k-200k 40 $6,820,000 $170,500 $3,896 3.10%
    $400k-600k 27 $12,385,000 $458,704 $6,447 2.85%
    $100,000 or less 2 $120,000 $60,000 $1,516 3.00%
    $600k-1MM 2 $1,490,000 $745,000 $7,951 2.75%

    2021 saw Park Square Home Mortgage place emphasis on $200k-400k loans with 419 originations, totaling $122,565,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 169 $47,245,000 $279,556 $7,246 2.95%
    $75k-100k 125 $36,505,000 $292,040 $6,969 2.98%
    $100k-150k 109 $33,845,000 $310,505 $5,915 2.99%
    $150k-250k 42 $13,750,000 $327,381 $5,928 3.02%
    $50k or less 29 $7,175,000 $247,414 $7,047 2.94%
    $250k+ 15 $4,585,000 $305,667 $4,979 3.31%

    Park Square Home Mortgage lent most frequently to those with incomes in the $50k-75k range, with 169 originations. The second most popular income band? $75k-100k, with 125 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 82 $24,650,000 $300,610 $9,537 2.92%
    30-36% 68 $19,020,000 $279,706 $5,364 3.03%
    20-30% 60 $16,780,000 $279,667 $5,481 2.97%
    48% 35 $10,675,000 $305,000 $6,464 2.97%
    47% 27 $7,955,000 $294,630 $6,821 3.07%
    41% 23 $6,695,000 $291,087 $6,089 2.97%
    45% 23 $7,015,000 $305,000 $7,475 2.87%
    46% 22 $6,660,000 $302,727 $6,707 2.96%
    44% 19 $5,355,000 $281,842 $6,342 3.10%
    39% 18 $5,540,000 $307,778 $4,678 3.03%
    43% 16 $4,820,000 $301,250 $7,193 3.05%
    36% 15 $4,505,000 $300,333 $6,895 3.01%
    42% 14 $4,040,000 $288,571 $5,502 2.96%
    40% 14 $3,830,000 $273,571 $6,315 3.12%
    38% 14 $4,010,000 $286,429 $6,133 2.93%
    37% 14 $4,600,000 $328,571 $6,238 2.87%
    <20% 12 $3,130,000 $260,833 $5,318 3.03%
    49% 12 $3,550,000 $295,833 $7,479 2.87%
    >60% 2 $550,000 $275,000 $5,544 3.69%

    Park Square Home Mortgage lent most frequently to those with DTI ratios of 50-60%, with 82 originations. The next most common DTI ratio? 30-36%, with 68 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 301 $87,975,000 $292,276 $6,670 2.96%
    Not provided 85 $25,295,000 $297,588 $6,868 3.00%
    Black 63 $18,485,000 $293,413 $7,174 3.04%
    Asian 28 $7,740,000 $276,429 $5,857 2.96%
    Asian Indian 4 $1,370,000 $342,500 $5,676 3.22%
    Native Hawaiian or Islander 4 $1,190,000 $297,500 $5,073 3.47%
    American Indian 4 $1,110,000 $277,500 $4,305 3.31%
    Other Pacific Islander 1 $215,000 $215,000 $4,017 3.25%

    Approval Rates

    Total approvals of all applications
    92.92%

    Park Square Home Mortgage has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.90%

    Park Square Home Mortgage has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 490 $143,380,000 $292,612

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    490 $143,380,000 $292,612

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 4 $650,000 $162,500 $2,516 2.97%
    40-60% 28 $5,640,000 $201,429 $4,247 2.98%
    60-80% 71 $18,005,000 $253,592 $4,867 3.14%
    80-100% 369 $113,045,000 $306,355 $7,059 2.96%
    Over 100% 17 $5,985,000 $352,059 $11,181 2.78%
    Under 20% 1 $55,000 $55,000 $1,223 2.75%