Park Square Home Mortgage Rates, Fees & Info
ORLANDO, FLLEI: 549300LBBI5HSCNM6E20
Tax ID: 82-2892065
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Mortgage Data
Review & Overview
Park Square Home Mortgage is a smaller mortgage company specializing in Home Purchase loans. They have a a high proportion of FHA loans. Park Square Home Mortgage has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Orlando, Lakeland, Tampa, Miami, and Deltona among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)Park Square Home Mortgage 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. Park Square Home Mortgage 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.85% | 11/21/24 |
| 30 Year Conventional Refi | 6.64% | 11/21/24 |
| 30 Year Cash-out Refi | 6.59% | 11/21/24 |
| 30 Year FHA Purchase | 7.21% | 11/21/24 |
| 30 Year FHA Refi | 6.27% | 11/21/24 |
| 30 Year VA Purchase | 6.47% | 11/21/24 |
| 30 Year USDA Purchase | 6.19% | 11/21/24 |
| 15 Year Conventional Purchase | 6.27% | 11/21/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
143Origination Dollar Volume (All Markets)
$34,095,000Top 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) | 107 | $25,375,000 | $237,150 | $6,661 | 4.89% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 19 | $4,495,000 | $236,579 | $6,081 | 4.95% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 13 | $3,115,000 | $239,615 | $5,080 | 4.87% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $5,295 | 4.63% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $8,643 | 4.50% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $7,883 | 4.50% |
| OCALA, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $6,495 | 4.50% |
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.
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Product Mix
For 2018, Park Square Home Mortgage's most frequently originated type of loan was FHA, with 75 originations. Their 2nd most popular type was Conventional, with 52 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 143 | $34,095,000 | $238,427 | $6,452 | 4.89% |
For 2018, Park Square Home Mortgage's most frequently cited loan purpose was Home Purchase, with 143 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 143 | $34,095,000 | $238,427 | $6,452 | 4.89% |
For 2018, Park Square Home Mortgage's most frequently cited loan duration was 30 Year, with 143 originations.
Origination Fees/Closing Costs
Park Square Home Mortgage's average total fees were $6,452, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 124 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 109 | $26,135,000 | $239,771 |
| 5-6% | 32 | $7,390,000 | $230,938 |
| 6-7% | 2 | $570,000 | $285,000 |
During 2018, Park Square Home Mortgage's average interest rate for loans was 4.89%, while their most frequently originated rate bucket for loans was 4-5%, with 109 originations.
Loan Sizing
2018 saw Park Square Home Mortgage place emphasis on $200k-400k loans with 113 originations, totaling $28,315,000 in origination value.
Applicant Income
Park Square Home Mortgage lent most frequently to those with incomes in the $50k-75k range, with 62 originations. The second most popular income band? $75k-100k, with 42 originations.
Applicant Debt to Income Ratio
Park Square Home Mortgage lent most frequently to those with DTI ratios of 50-60%, with 44 originations. The next most common DTI ratio? 30-36%, with 15 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications80.24%
Park Square Home Mortgage has a below average approval rate.
Pick Rate
Approvals leading to origination61.54%
Park Square Home Mortgage 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 | 143 | $34,095,000 | $238,427 |