Park Side Financial Mortgage Rates, Fees & Info

Whitefish, MT

LEI: 549300QFE7UAEZ8Q4U55

Tax ID: 23-7155544

5 stars - Updated: 6/16/24 - out of 5 stars, based on 5 reviews

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

Jump to:

Mortgage Data

Review & Overview

Park Side Financial is a smaller mortgage company specializing in Refi and Home Purchase loans. Park Side Financial has a high proportion of conventional loans. Their top two markets are Kalispell and Missoula .

Park Side Financial has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Park Side Financial 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 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 5.98% 6/16/24
30 Year Conventional Refi 5.67% 6/16/24
30 Year USDA Purchase 7.19% 6/16/24
15 Year Conventional Purchase 4.78% 6/16/24
15 Year Conventional Refi 4.98% 6/16/24
15 Year Cash-out Refi 4.98% 6/16/24
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 Side Financial Mortgage Calculator






Your Estimates

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

This is not an official calculator from Park Side Financial. 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

30

Origination Dollar Volume (All Markets)

$7,790,000

Awards

PARK SIDE FINANCIAL 30 Year Conventional Loans gold PARK SIDE FINANCIAL 30 Year Conventional Loans gold
Show all (2) awards

Relative Rate

Park Side Financial's average 30 year fixed mortgage rate was 6.59%.

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

This yields a difference of 0.11%.

Relative Fees (Closing Costs)

Park Side Financial's average total fees/closing costs for a 30 year fixed rate mortgage were $2,478.

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
Kalispell, MT (FHA|USDA|VA) 21 $5,625,000 $267,857 $2,497 6.60%
MISSOULA, MT (FHA|USDA|VA) 5 $1,305,000 $261,000 $2,287 6.45%
Outside of Metro Areas 4 $860,000 $215,000 $2,408 6.44%
Park Side Financial's top markets include Kalispell and Missoula among others.

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

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

    CLEARWATER Federal Credit Union
    Similarity Rank: 15
    PARK SIDE FINANCIAL
    Similarity Rank: 18
    Opportunity Bank of Montana
    Similarity Rank: 361
    Stockman Bank of Montana
    Similarity Rank: 425
    First Interstate Bank
    Similarity Rank: 2700
    BAY EQUITY LLC
    Similarity Rank: 2848
    Glacier Bank
    Similarity Rank: 3572
    Mortgage Research Center, LLC
    Similarity Rank: 3672
    FIRST COLONY MORTGAGE CORPORATION
    Similarity Rank: 4234
    GUARANTEED RATE, INC.
    Similarity Rank: 4632

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 30 $7,790,000 $259,667 $2,450 6.55%

    For 2023, Park Side Financial's most frequently originated type of loan was Conventional, with 30 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 16 $3,650,000 $228,125 $2,178 6.46%
    Home Purchase 13 $3,835,000 $295,000 $2,776 6.69%
    Home Improvement 1 $305,000 $305,000 $2,566 6.25%

    For 2023, Park Side Financial's most frequently cited loan purpose was Refi, with 16 originations. The 2nd most popular reason was Home Purchase, with 13 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 26 $7,260,000 $279,231 $2,478 6.59%
    15 Year 2 $430,000 $215,000 $2,711 6.00%
    20 Year 2 $100,000 $50,000 $1,836 6.63%

    For 2023, Park Side Financial's most frequently cited loan duration was 30 Year, with 26 originations. The 2nd most popular length was 15 Year, with 2 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 30 $7,790,000 $259,667

    Park Side Financial's average total fees were $2,478, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 30 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 12 $2,840,000 $236,667
    6-7% 11 $3,375,000 $306,818
    7-8% 7 $1,575,000 $225,000

    During 2023, Park Side Financial's average interest rate for loans was 6.59%, while their most frequently originated rate bucket for loans was 5-6%, with 12 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 18 $5,390,000 $299,444 $2,516 6.58%
    $100,000 or less 5 $355,000 $71,000 $1,776 6.50%
    $100k-200k 4 $600,000 $150,000 $2,278 6.56%
    $400k-600k 3 $1,445,000 $481,667 $3,412 6.50%

    2023 saw Park Side Financial place emphasis on $200k-400k loans with 18 originations, totaling $5,390,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 11 $3,515,000 $319,545 $2,601 6.33%
    $75k-100k 6 $1,110,000 $185,000 $2,161 6.92%
    $50k-75k 4 $1,190,000 $297,500 $2,758 6.50%
    $50k or less 4 $520,000 $130,000 $1,874 6.00%
    $150k-250k 3 $785,000 $261,667 $2,701 6.50%
    $250k+ 2 $670,000 $335,000 $2,650 8.00%

    Park Side Financial lent most frequently to those with incomes in the $100k-150k range, with 11 originations. The second most popular income band? $75k-100k, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 4 $1,080,000 $270,000 $2,341 6.13%
    45% 3 $985,000 $328,333 $2,821 6.83%
    44% 2 $630,000 $315,000 $3,215 6.38%
    <20% 2 $200,000 $100,000 $2,370 6.63%
    40% 1 $355,000 $355,000 $2,531 5.64%
    41% 1 $495,000 $495,000 $3,178 6.00%
    46% 1 $175,000 $175,000 $1,603 6.00%
    >60% 1 $85,000 $85,000 $1,740 6.00%
    20-30% 1 $275,000 $275,000 $2,750 6.00%
    36% 1 $245,000 $245,000 $1,884 7.00%
    39% 1 $165,000 $165,000 $2,516 7.00%

    Park Side Financial lent most frequently to those with DTI ratios of 30-36%, with 4 originations. The next most common DTI ratio? 45%, with 3 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 22 $5,070,000 $230,455 $2,297 6.50%
    Not provided 7 $2,195,000 $313,571 $2,824 6.77%
    Asian 1 $525,000 $525,000 $3,200 6.25%

    Approval Rates

    Total approvals of all applications
    57.47%

    Park Side Financial has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    36.67%

    Park Side Financial 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 30 $7,790,000 $259,667

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    30 $7,790,000 $259,667

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 4 $680,000 $170,000 $2,294 6.63%
    40-60% 6 $1,480,000 $246,667 $2,448 6.11%
    60-80% 13 $3,975,000 $305,769 $2,498 6.83%
    80-100% 3 $1,225,000 $408,333 $3,268 6.58%
    Under 20% 4 $430,000 $107,500 $1,842 6.25%