Park Square Home Mortgage Rates, Fees & Info

ORLANDO, FL

LEI: 549300LBBI5HSCNM6E20

Tax ID: 82-2892065

5 stars - Updated: 6/9/24 - out of 5 stars, based on 17 reviews

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

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Mortgage Data

Review & Overview

Park Square Home Mortgage is a smaller mortgage company specializing in Home Purchase loans. Park Square Home Mortgage has a high proportion of conventional loans. They have a a high proportion of FHA loans. Their top markets by origination volume include: Orlando, Tampa, Lakeland, North Port, and Gainesville among others. We have data for 5 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 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 6.85% 6/9/24
30 Year Conventional Refi 6.64% 6/9/24
30 Year Cash-out Refi 6.59% 6/9/24
30 Year FHA Purchase 7.21% 6/9/24
30 Year FHA Refi 6.27% 6/9/24
30 Year VA Purchase 6.47% 6/9/24
30 Year USDA Purchase 6.19% 6/9/24
15 Year Conventional Purchase 6.27% 6/9/24
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 Square Home Mortgage Mortgage Calculator






Your Estimates

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

This is not an official calculator from Park Square Home Mortgage. 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

281

Origination Dollar Volume (All Markets)

$101,885,000
Show all (11) awards

Relative Rate

Park Square Home Mortgage's average 30 year fixed mortgage rate was 5.76%.

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

This yields a difference of -0.72%.

Relative Fees (Closing Costs)

Park Square Home Mortgage's average total fees/closing costs for a 30 year fixed rate mortgage were $9,791.

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
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 98 $36,050,000 $367,857 $10,846 6.12%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 68 $26,930,000 $396,029 $8,581 6.09%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 78 $25,740,000 $330,000 $9,256 5.04%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 36 $13,030,000 $361,944 $9,404 5.79%
GAINESVILLE, FL (FHA|USDA|VA) 1 $135,000 $135,000 $6,004 6.75%
Park Square Home Mortgage's top markets include Orlando, Tampa, Lakeland, North Port, and Gainesville 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.

    ORLANDO CREDIT UNION
    Similarity Rank: 459
    LAUNCH FEDERAL CREDIT UNION
    Similarity Rank: 552
    Terrabank
    Similarity Rank: 660
    NEAL COMMUNITIES FUNDING, LLC
    Similarity Rank: 668
    ADDITION FINANCIAL
    Similarity Rank: 804
    Brannen Bank
    Similarity Rank: 858
    ACHIEVA CREDIT UNION
    Similarity Rank: 882
    Citizens First Bank
    Similarity Rank: 1176
    SPACE COAST Credit Union
    Similarity Rank: 1534

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 146 $49,080,000 $336,164 $7,678 6.24%
    FHA 110 $40,970,000 $372,455 $12,522 5.20%
    VA 25 $11,835,000 $473,400 $6,936 5.60%

    For 2023, Park Square Home Mortgage's most frequently originated type of loan was Conventional, with 146 originations. Their 2nd most popular type was FHA, with 110 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 281 $101,885,000 $362,580 $9,679 5.77%

    For 2023, Park Square Home Mortgage's most frequently cited loan purpose was Home Purchase, with 281 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 271 $98,935,000 $365,074 $9,791 5.76%
    15 Year 8 $2,310,000 $288,750 $5,706 6.15%
    20 Year 2 $640,000 $320,000 $9,733 5.94%

    For 2023, Park Square Home Mortgage's most frequently cited loan duration was 30 Year, with 271 originations. The 2nd most popular length was 15 Year, with 8 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 107 $39,505,000 $369,206
    $5k+ 61 $24,625,000 $403,689
    $<1k 42 $15,780,000 $375,714
    $2k-3k 21 $7,095,000 $337,857
    $4k-5k 14 $4,330,000 $309,286
    $3k-4k 12 $4,240,000 $353,333

    Park Square Home Mortgage's average total fees were $9,791, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 107 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 95 $33,625,000 $353,947
    5-6% 77 $30,535,000 $396,558
    6-7% 76 $26,170,000 $344,342
    7-8% 29 $10,305,000 $355,345
    Over 8% 4 $1,250,000 $312,500

    During 2023, Park Square Home Mortgage's average interest rate for loans was 5.76%, while their most frequently originated rate bucket for loans was 4-5%, with 95 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 176 $56,510,000 $321,080 $9,044 5.64%
    $400k-600k 75 $33,945,000 $452,600 $12,300 5.81%
    $100k-200k 17 $2,515,000 $147,941 $3,601 6.54%
    $600k-1MM 10 $6,780,000 $678,000 $10,433 6.16%
    $1MM+ 2 $2,080,000 $1,040,000 $3,000 6.19%
    $100,000 or less 1 $55,000 $55,000 $0 7.99%

    2023 saw Park Square Home Mortgage place emphasis on $200k-400k loans with 176 originations, totaling $56,510,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 93 $34,705,000 $373,172 $10,509 5.89%
    $150k-250k 69 $27,085,000 $392,536 $8,972 5.97%
    $75k-100k 60 $20,370,000 $339,500 $10,723 5.29%
    $50k-75k 32 $9,160,000 $286,250 $8,521 5.28%
    $250k+ 25 $10,165,000 $406,600 $7,376 6.65%
    $50k or less 2 $400,000 $200,000 $3,701 4.99%

    Park Square Home Mortgage lent most frequently to those with incomes in the $100k-150k range, with 93 originations. The second most popular income band? $150k-250k, with 69 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 65 $25,765,000 $396,385 $11,990 5.38%
    30-36% 34 $11,350,000 $333,824 $7,911 5.86%
    20-30% 28 $8,910,000 $318,214 $8,077 6.26%
    48% 21 $6,535,000 $311,190 $8,406 6.16%
    44% 13 $4,685,000 $360,385 $11,445 5.58%
    47% 13 $4,795,000 $368,846 $8,529 5.86%
    45% 13 $6,205,000 $477,308 $10,267 5.66%
    46% 12 $4,030,000 $335,833 $10,090 5.41%
    42% 11 $4,045,000 $367,727 $10,778 5.30%
    38% 11 $3,415,000 $310,455 $9,263 6.53%
    40% 11 $3,875,000 $352,273 $8,910 5.81%
    49% 11 $4,405,000 $400,455 $10,362 5.63%
    <20% 9 $2,985,000 $331,667 $4,538 5.69%
    41% 7 $2,535,000 $362,143 $11,851 6.25%
    39% 7 $1,905,000 $272,143 $6,984 5.89%
    43% 7 $2,935,000 $419,286 $9,279 5.86%
    37% 6 $2,740,000 $456,667 $7,584 6.00%
    36% 2 $770,000 $385,000 $7,790 6.12%

    Park Square Home Mortgage lent most frequently to those with DTI ratios of 50-60%, with 65 originations. The next most common DTI ratio? 30-36%, with 34 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 142 $53,810,000 $378,944 $9,411 5.83%
    Not provided 83 $28,655,000 $345,241 $10,261 5.50%
    Black 26 $9,190,000 $353,462 $10,253 5.30%
    Asian 24 $8,070,000 $336,250 $7,207 6.70%
    American Indian 2 $960,000 $480,000 $13,640 5.87%
    Asian Indian 3 $735,000 $245,000 $8,416 6.91%
    Native Hawaiian or Islander 1 $465,000 $465,000 $9,045 6.75%

    Approval Rates

    Total approvals of all applications
    92.15%

    Park Square Home Mortgage has an average approval rate.

    Pick Rate

    Approvals leading to origination
    75.80%

    Park Square Home Mortgage has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 281 $101,885,000 $362,580

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    281 $101,885,000 $362,580

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 12 $1,930,000 $160,833 $3,594 6.45%
    40-60% 17 $5,965,000 $350,882 $6,197 6.36%
    60-80% 60 $21,330,000 $355,500 $8,312 6.19%
    80-100% 184 $69,620,000 $378,370 $10,449 5.54%
    Over 100% 7 $2,985,000 $426,429 $16,029 5.34%
    Under 20% 1 $55,000 $55,000 $0 7.99%