Park State Bank Mortgage Rates, Fees & Info
Duluth, MNLEI: 549300YVBUEC0SGSZW55
Tax ID: 41-0467450
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Mortgage Data
Review & Overview
Park State Bank is a smaller bank specializing in Refi loans. Park State Bank has a high proportion of conventional loans.Park State Bank has an above average approval rate when compared to the average across all lenders.
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Originations
5Origination Dollar Volume (All Markets)
$3,035,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 5 | $3,035,000 | $607,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Park State Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 60
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 5 | $3,035,000 | $607,000 | $0 | 0.00% |
For 2018, Park State Bank's most frequently originated type of loan was Conventional, with 5 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 3 | $2,615,000 | $871,667 | $0 | 0.00% |
| Home Purchase | 2 | $420,000 | $210,000 | $0 | 0.00% |
For 2018, Park State Bank's most frequently cited loan purpose was Refi, with 3 originations. The 2nd most popular reason was Home Purchase, with 2 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 5 | $3,035,000 | $607,000 | $0 | 0.00% |
For 2018, Park State Bank's most frequently cited loan duration was Other, with 5 originations.
Loan Sizing
2018 saw Park State Bank place emphasis on $100k-200k loans with 2 originations, totaling $300,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $75k-100k | 2 | $300,000 | $150,000 | $0 | 0.00% |
| $100k-150k | 1 | $225,000 | $225,000 | $0 | 0.00% |
| $50k or less | 1 | $5,000 | $5,000 | $0 | 0.00% |
Park State Bank lent most frequently to those with incomes in the $75k-100k range, with 2 originations. The second most popular income band? $100k-150k, with 1 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 1 | $2,505,000 | $2,505,000 | $0 | 0.00% |
| White | 4 | $530,000 | $132,500 | $0 | 0.00% |
Approval Rates
Total approvals of all applications100.00%
Park State Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 5 | $3,035,000 | $607,000 |