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 two markets are Detroit and Monroe .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% | 11/21/24 |
| 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
46Origination Dollar Volume (All Markets)
$1,770,000Top 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) | 45 | $1,735,000 | $38,556 | $0 | 0.00% |
| MONROE, 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 | 46 | $1,770,000 | $38,478 | $0 | 0.00% |
For 2022, Parkside's most frequently originated type of loan was Conventional, with 46 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Other | 26 | $970,000 | $37,308 | $0 | 0.00% |
| Home Improvement | 20 | $800,000 | $40,000 | $0 | 0.00% |
For 2022, Parkside's most frequently cited loan purpose was Other, with 26 originations. The 2nd most popular reason was Home Improvement, with 20 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 46 | $1,770,000 | $38,478 | $0 | 0.00% |
For 2022, Parkside's most frequently cited loan duration was Other, with 46 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 45 | $1,665,000 | $37,000 | $0 | 0.00% |
| $100k-200k | 1 | $105,000 | $105,000 | $0 | 0.00% |
2022 saw Parkside place emphasis on $100,000 or less loans with 45 originations, totaling $1,665,000 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? $100k-150k, with 13 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 46 | $1,770,000 | $38,478 | $0 | 0.00% |
Parkside lent most frequently to those with DTI ratios of Exempt%, with 46 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 37 | $1,395,000 | $37,703 | $0 | 0.00% |
| Black | 9 | $375,000 | $41,667 | $0 | 0.00% |
Approval Rates
Total approvals of all applications84.03%
Parkside has a below average approval rate.
Pick Rate
Approvals leading to origination80.43%
Parkside has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 46 | $1,770,000 | $38,478 |