Parlay Mortgage & Property Rates, Fees & Info

ADDISON, IL

LEI: 549300TRKZF3ZJPXJT92

Tax ID: 42-1730597

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Parlay Mortgage & Property is a smaller mortgage company specializing in Home Purchase and Refi loans. Parlay Mortgage & Property has a high proportion of conventional loans. Their top markets by origination volume include: Chicago, Denver, Kankakee, Michigan City, and Ottawa among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Parlay Mortgage & Property 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. Parlay Mortgage & Property 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.

    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.


    Originations

    145

    Origination Dollar Volume (All Markets)

    $40,945,000

    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
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 115 $30,385,000 $264,217 $8,908 4.16%
    Outside of Metro Areas 20 $7,680,000 $384,000 $7,589 4.12%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 3 $1,525,000 $508,333 $4,675 4.13%
    KANKAKEE, IL (FHA|USDA|VA) 3 $605,000 $201,667 $5,115 4.20%
    MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 2 $400,000 $200,000 $8,029 3.81%
    Ottawa, IL (FHA|USDA|VA) 1 $215,000 $215,000 $4,725 3.99%
    CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 1 $135,000 $135,000 $9,548 5.50%
    Parlay Mortgage & Property's top markets include Chicago, Denver, Kankakee, Michigan City, and Ottawa among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)

    • Similar Lenders

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

    Liberty Bank for Savings
    Similarity Rank: 85
    EDUCATORS CREDIT UNION
    Similarity Rank: 352
    UNITED
    Similarity Rank: 498
    Southern Lkaes Credit Union
    Similarity Rank: 513
    AMERITRUST MORTGAGE CORPORATION
    Similarity Rank: 618
    TECH Credit Union
    Similarity Rank: 856
    Community State Bank
    Similarity Rank: 888
    The Equitable Bank, S.S.B.
    Similarity Rank: 950
    DuPage Credit Union
    Similarity Rank: 1428
    American Financial Funding Corp.
    Similarity Rank: 1565

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 138 $38,790,000 $281,087 $8,444 4.17%
    VA 7 $2,155,000 $307,857 $10,030 3.87%

    For 2019, Parlay Mortgage & Property's most frequently originated type of loan was Conventional, with 138 originations. Their 2nd most popular type was VA, with 7 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 70 $20,270,000 $289,571 $10,761 4.26%
    Refi 49 $15,055,000 $307,245 $6,222 3.96%
    Cash Out Refi 26 $5,620,000 $216,154 $6,732 4.24%

    For 2019, Parlay Mortgage & Property's most frequently cited loan purpose was Home Purchase, with 70 originations. The 2nd most popular reason was Refi, with 49 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 120 $34,880,000 $290,667 $8,922 4.26%
    15 Year 15 $3,655,000 $243,667 $6,232 3.49%
    20 Year 8 $1,720,000 $215,000 $6,968 3.83%
    Other 2 $690,000 $345,000 $7,994 3.93%

    For 2019, Parlay Mortgage & Property's most frequently cited loan duration was 30 Year, with 120 originations. The 2nd most popular length was 15 Year, with 15 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 130 $37,240,000 $286,462
    $<1k 4 $700,000 $175,000
    $2k-3k 3 $325,000 $108,333

    Parlay Mortgage & Property's average total fees were $8,922, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 130 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 71 $20,365,000 $286,831
    3-4% 68 $19,330,000 $284,265
    5-6% 5 $875,000 $175,000
    2.5-3% 1 $375,000 $375,000

    During 2019, Parlay Mortgage & Property's average interest rate for loans was 4.26%, while their most frequently originated rate bucket for loans was 4-5%, with 71 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 76 $21,940,000 $288,684 $8,711 4.09%
    $100k-200k 39 $5,745,000 $147,308 $7,704 4.28%
    $400k-600k 25 $11,765,000 $470,600 $8,332 4.12%
    $100,000 or less 3 $205,000 $68,333 $6,256 4.12%
    $600k-1MM 2 $1,290,000 $645,000 $22,860 4.56%

    2019 saw Parlay Mortgage & Property place emphasis on $200k-400k loans with 76 originations, totaling $21,940,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 43 $11,565,000 $268,953 $8,813 4.16%
    $150k-250k 34 $12,190,000 $358,529 $9,181 4.08%
    $50k-75k 23 $4,095,000 $178,043 $7,805 4.10%
    $75k-100k 23 $5,495,000 $238,913 $7,856 4.28%
    $250k+ 11 $5,245,000 $476,818 $10,638 4.03%
    $50k or less 11 $2,355,000 $214,091 $6,296 4.34%

    Parlay Mortgage & Property lent most frequently to those with incomes in the $100k-150k range, with 43 originations. The second most popular income band? $150k-250k, with 34 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 35 $10,495,000 $299,857 $8,887 4.08%
    30-36% 25 $6,825,000 $273,000 $8,479 4.11%
    <20% 13 $4,025,000 $309,615 $5,713 4.00%
    45% 9 $2,895,000 $321,667 $11,973 4.23%
    36% 7 $1,675,000 $239,286 $8,734 4.23%
    39% 6 $1,580,000 $263,333 $5,140 4.27%
    42% 5 $1,635,000 $327,000 $10,849 4.02%
    40% 5 $1,075,000 $215,000 $9,020 4.28%
    43% 5 $985,000 $197,000 $5,399 4.12%
    48% 5 $1,425,000 $285,000 $6,891 4.28%
    50-60% 5 $1,415,000 $283,000 $10,487 4.22%
    38% 4 $810,000 $202,500 $6,110 4.28%
    41% 4 $870,000 $217,500 $6,007 4.31%
    44% 4 $920,000 $230,000 $10,183 4.13%
    37% 4 $1,320,000 $330,000 $10,016 4.56%
    49% 3 $1,085,000 $361,667 $11,031 4.37%
    47% 3 $1,015,000 $338,333 $6,349 3.95%
    46% 2 $580,000 $290,000 $14,005 4.18%
    >60% 1 $315,000 $315,000 $13,018 4.63%

    Parlay Mortgage & Property lent most frequently to those with DTI ratios of 20-30%, with 35 originations. The next most common DTI ratio? 30-36%, with 25 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 130 $37,170,000 $285,923 $8,307 4.16%
    Asian 6 $1,770,000 $295,000 $9,490 4.06%
    Black 6 $1,410,000 $235,000 $13,113 4.15%
    Not provided 2 $330,000 $165,000 $6,458 4.12%
    Native Hawaiian or Islander 1 $265,000 $265,000 $8,052 3.99%

    Approval Rates

    Total approvals of all applications
    98.85%

    Parlay Mortgage & Property has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    81.38%

    Parlay Mortgage & Property has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 145 $40,945,000 $282,379

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 145 $40,945,000 $282,379

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    40-60% 10 $1,740,000 $174,000 $7,815 3.93%
    60-80% 65 $17,505,000 $269,308 $8,156 4.12%
    80-100% 67 $20,755,000 $309,776 $9,221 4.21%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    PERL MORTGAGE Reverse mortgage Trouble during payment process 1 50.0%
    PERL MORTGAGE VA mortgage Closing on a mortgage 1 50.0%