Parlay Mortgage & Property Rates, Fees & Info
ADDISON, ILLEI: 549300TRKZF3ZJPXJT92
Tax ID: 42-1730597
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Parlay Mortgage & Property is a smaller mortgage company specializing in Refi and Home Purchase loans. Parlay Mortgage & Property has a high proportion of conventional loans. Their top markets by origination volume include: Chicago, Ottawa, Knoxville, Michigan City, and Kankakee among others. We have data for 9 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 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 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 | 6.85% | 11/17/24 |
| 30 Year Conventional Refi | 6.54% | 11/17/24 |
| 30 Year Cash-out Refi | 7.14% | 11/17/24 |
| 30 Year FHA Refi | 6.27% | 11/17/24 |
| 30 Year VA Purchase | 6.38% | 11/17/24 |
| 15 Year Conventional Purchase | 6.26% | 11/17/24 |
| 15 Year Conventional Refi | 5.75% | 11/17/24 |
| 15 Year Cash-out Refi | 5.75% | 11/17/24 |
| 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. | ||
Parlay Mortgage & Property Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Parlay Mortgage & Property. 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
235Origination Dollar Volume (All Markets)
$62,055,000Top 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 |
|---|---|---|---|---|---|
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 205 | $53,645,000 | $261,683 | $4,047 | 2.98% |
| Outside of Metro Areas | 19 | $5,955,000 | $313,421 | $4,998 | 2.85% |
| Ottawa, IL (FHA|USDA|VA) | 3 | $825,000 | $275,000 | $5,143 | 3.16% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $6,099 | 3.20% |
| MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $2,124 | 2.93% |
| KANKAKEE, IL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $2,906 | 2.99% |
| Warsaw, IN (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $2,534 | 2.75% |
| NILES, MI (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 3.00% |
| Galesburg, IL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,129 | 3.50% |
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.
Similarity Rank: 45
Similarity Rank: 153
Similarity Rank: 861
Similarity Rank: 1090
Similarity Rank: 1166
Similarity Rank: 1220
Similarity Rank: 1232
Similarity Rank: 1252
Similarity Rank: 1560
Similarity Rank: 1866
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 223 | $58,165,000 | $260,830 | $4,176 | 2.98% |
| VA | 11 | $3,645,000 | $331,364 | $3,295 | 2.72% |
| HELOC | 1 | $245,000 | $245,000 | n/a | 3.25% |
For 2021, Parlay Mortgage & Property's most frequently originated type of loan was Conventional, with 223 originations. Their 2nd most popular type was VA, with 11 originations.
Loan Reason
For 2021, Parlay Mortgage & Property's most frequently cited loan purpose was Refi, with 105 originations. The 2nd most popular reason was Home Purchase, with 94 originations.
Loan Duration/Length
For 2021, Parlay Mortgage & Property's most frequently cited loan duration was 30 Year, with 164 originations. The 2nd most popular length was 15 Year, with 40 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 101 | $26,985,000 | $267,178 |
| 3-4% | 92 | $24,140,000 | $262,391 |
| <2.5% | 41 | $10,485,000 | $255,732 |
| 4-5% | 1 | $445,000 | $445,000 |
During 2021, Parlay Mortgage & Property's average interest rate for loans was 3.13%, while their most frequently originated rate bucket for loans was 2.5-3%, with 101 originations.
Loan Sizing
2021 saw Parlay Mortgage & Property place emphasis on $200k-400k loans with 141 originations, totaling $39,885,000 in origination value.
Applicant Income
Parlay Mortgage & Property lent most frequently to those with incomes in the $100k-150k range, with 68 originations. The second most popular income band? $75k-100k, with 52 originations.
Applicant Debt to Income Ratio
Parlay Mortgage & Property lent most frequently to those with DTI ratios of 20-30%, with 60 originations. The next most common DTI ratio? 30-36%, with 54 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.99%
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 origination77.45%
Parlay Mortgage & Property has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2102.0 | 1 | $155,000 | $155,000 |
| 2107.0 | 4 | $900,000 | $225,000 |
| 2110.89 | 1 | $265,000 | $265,000 |
| 2115.89 | 2 | $250,000 | $125,000 |
| 2190.85 | 1 | $405,000 | $405,000 |
| 2190.95 | 1 | $505,000 | $505,000 |
| 2501.0 | 1 | $335,000 | $335,000 |
| 2507.95 | 1 | $345,000 | $345,000 |
| 2531.0 | 1 | $165,000 | $165,000 |
| 2555.89 | 1 | $255,000 | $255,000 |
| 2851.64 | 1 | $225,000 | $225,000 |
| 3025.19 | 1 | $245,000 | $245,000 |
| 3032.95 | 1 | $175,000 | $175,000 |
| 3735.83 | 1 | $265,000 | $265,000 |
| 4555.85 | 1 | $275,000 | $275,000 |
| 5160.85 | 1 | $165,000 | $165,000 |
| 5335.89 | 2 | $410,000 | $205,000 |
| 6465.35 | 1 | $205,000 | $205,000 |
| 6580.89 | 1 | $325,000 | $325,000 |
| 7271.84 | 1 | $75,000 | $75,000 |
| 7596.84 | 1 | $265,000 | $265,000 |
| NA | 209 | $55,845,000 | $267,201 |