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 (well, only) market is Detroit.Parkside has an above average approval rate when compared to the average across all lenders. They have an above 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% | 11/21/24 |
| 30 Year Conventional Refi | 6.27% | 11/21/24 |
| 30 Year Cash-out Refi | 6.27% | 11/21/24 |
| 15 Year Conventional Purchase | 5.68% | 11/21/24 |
| 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
13Origination Dollar Volume (All Markets)
$395,000Top Markets
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| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 13 | $395,000 | $30,385 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 13 | $395,000 | $30,385 | $0 | 0.00% |
For 2020, Parkside's most frequently originated type of loan was Conventional, with 13 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Other | 8 | $230,000 | $28,750 | $0 | 0.00% |
| Home Improvement | 5 | $165,000 | $33,000 | $0 | 0.00% |
For 2020, Parkside's most frequently cited loan purpose was Other, with 8 originations. The 2nd most popular reason was Home Improvement, with 5 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 13 | $395,000 | $30,385 | $0 | 0.00% |
For 2020, Parkside's most frequently cited loan duration was Other, with 13 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 13 | $395,000 | $30,385 | $0 | 0.00% |
2020 saw Parkside place emphasis on $100,000 or less loans with 13 originations, totaling $395,000 in origination value.
Applicant Income
Parkside lent most frequently to those with incomes in the $50k-75k range, with 4 originations. The second most popular income band? $75k-100k, with 4 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 13 | $395,000 | $30,385 | $0 | 0.00% |
Parkside lent most frequently to those with DTI ratios of Exempt%, with 13 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 11 | $305,000 | $27,727 | $0 | 0.00% |
| Asian | 1 | $45,000 | $45,000 | $0 | 0.00% |
| Not provided | 1 | $45,000 | $45,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications92.31%
Parkside has an average approval rate.
Pick Rate
Approvals leading to origination92.31%
Parkside has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 13 | $395,000 | $30,385 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 13 | $395,000 | $30,385 |
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| PARKSIDE LENDING, LLC | Conventional home mortgage | Trouble during payment process | 1 | 33.3% |
| PARKSIDE LENDING, LLC | FHA mortgage | Trouble during payment process | 2 | 66.7% |