Parkside Mortgage Rates, Fees & Info
WESTLAND, MILEI: 549300X6CJ5UBMRIAX42
Tax ID: 38-1485730
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Parkside is a smaller mortgage company specializing in Home Improvement and Other loans. Parkside has a high proportion of conventional loans. Their top two markets are Detroit and Jackson .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.
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 | 6.27% | 5/5/24 |
| 30 Year Conventional Refi | 6.27% | 5/5/24 |
| 30 Year Cash-out Refi | 6.27% | 5/5/24 |
| 15 Year Conventional Purchase | 5.68% | 5/5/24 |
| 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
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Parkside. 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
49Origination Dollar Volume (All Markets)
$2,035,000Top 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) | 48 | $2,000,000 | $41,667 | $0 | 0.00% |
| JACKSON, MI (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 49 | $2,035,000 | $41,531 | $0 | 0.00% |
For 2019, Parkside's most frequently originated type of loan was Conventional, with 49 originations.
Loan Reason
For 2019, Parkside's most frequently cited loan purpose was Home Improvement, with 24 originations. The 2nd most popular reason was Other, with 22 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 49 | $2,035,000 | $41,531 | $0 | 0.00% |
For 2019, Parkside's most frequently cited loan duration was Other, with 49 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 46 | $1,600,000 | $34,783 | $0 | 0.00% |
| $100k-200k | 3 | $435,000 | $145,000 | $0 | 0.00% |
2019 saw Parkside place emphasis on $100,000 or less loans with 46 originations, totaling $1,600,000 in origination value.
Applicant Income
Parkside lent most frequently to those with incomes in the $50k-75k range, with 21 originations. The second most popular income band? $50k or less, with 12 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 49 | $2,035,000 | $41,531 | $0 | 0.00% |
Parkside lent most frequently to those with DTI ratios of Exempt%, with 49 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 44 | $1,790,000 | $40,682 | $0 | 0.00% |
| Black | 4 | $150,000 | $37,500 | $0 | 0.00% |
| Asian | 1 | $95,000 | $95,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications78.02%
Parkside has a below average approval rate.
Pick Rate
Approvals leading to origination69.39%
Parkside 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 |
|---|---|---|---|
| Exempt | 49 | $2,035,000 | $41,531 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 49 | $2,035,000 | $41,531 |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Pro Equity Partners, Inc. | Conventional home mortgage | Closing on a mortgage | 1 | 100.0% |