Parkside Mortgage Rates, Fees & Info
WESTLAND, MILEI: 549300X6CJ5UBMRIAX42
Tax ID: 38-1485730
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Mortgage Data
Review & Overview
Parkside is a smaller mortgage company specializing in Other and Home Improvement loans. Parkside has a high proportion of conventional loans. Their top markets by origination volume include: Detroit, Ann Arbor, Adrian, Monroe, and Jackson among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Parkside 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.
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 | 6.27% | 11/17/24 |
| 30 Year Conventional Refi | 6.27% | 11/17/24 |
| 30 Year Cash-out Refi | 6.27% | 11/17/24 |
| 15 Year Conventional Purchase | 5.68% | 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. | ||
Parkside Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
65Origination Dollar Volume (All Markets)
$3,165,000Top 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 |
|---|---|---|---|---|---|
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 57 | $2,555,000 | $44,825 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $230,000 | $115,000 | $0 | 0.00% |
| ANN ARBOR, MI (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| Adrian, MI (FHA|USDA|VA) | 2 | $120,000 | $60,000 | $0 | 0.00% |
| MONROE, MI (FHA|USDA|VA) | 2 | $90,000 | $45,000 | $0 | 0.00% |
| JACKSON, MI (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 65 | $3,165,000 | $48,692 | $0 | 0.00% |
For 2023, Parkside's most frequently originated type of loan was Conventional, with 65 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Other | 36 | $1,740,000 | $48,333 | $0 | 0.00% |
| Home Improvement | 29 | $1,425,000 | $49,138 | $0 | 0.00% |
For 2023, Parkside's most frequently cited loan purpose was Other, with 36 originations. The 2nd most popular reason was Home Improvement, with 29 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 65 | $3,165,000 | $48,692 | $0 | 0.00% |
For 2023, Parkside's most frequently cited loan duration was Other, with 65 originations.
Loan Sizing
2023 saw Parkside place emphasis on $100,000 or less loans with 61 originations, totaling $2,595,000 in origination value.
Applicant Income
Parkside lent most frequently to those with incomes in the $50k-75k range, with 19 originations. The second most popular income band? $100k-150k, with 17 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 65 | $3,165,000 | $48,692 | $0 | 0.00% |
Parkside lent most frequently to those with DTI ratios of Exempt%, with 65 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 57 | $2,755,000 | $48,333 | $0 | 0.00% |
| Black | 8 | $410,000 | $51,250 | $0 | 0.00% |
Approval Rates
Total approvals of all applications88.80%
Parkside has an average approval rate.
Pick Rate
Approvals leading to origination72.31%
Parkside has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 65 | $3,165,000 | $48,692 |