The Park Bank Mortgage Rates, Fees & Info

Madison, WI

LEI: YQI2CPR3Z44KAR0HG822

Tax ID: 39-1076859

5 stars - Updated: 2/26/24 - out of 5 stars, based on 23 reviews

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

The Park Bank is a smaller bank specializing in Home Purchase loans. The Park Bank has a high proportion of conventional loans. The Park Bank has an average proportion of conventional loans. Their top markets by origination volume include: Madison, Janesville, Naples, Milwaukee, and Watertown among others. We have data for 22 markets. (Some data included below & more in-depth data is available with an active subscription.)

The Park Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. The Park Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

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 6.28% 2/26/24
30 Year Conventional Refi 6.26% 2/26/24
30 Year Cash-out Refi 6.45% 2/26/24
15 Year Conventional Purchase 5.61% 2/26/24
15 Year Conventional Refi 5.76% 2/26/24
15 Year Cash-out Refi 5.76% 2/26/24
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.

The Park Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from The Park Bank. 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

541

Origination Dollar Volume (All Markets)

$250,055,000
Show all (8) awards

Relative Rate

The Park Bank's average 30 year fixed mortgage rate was 4.34%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of -0.42%.

Relative Fees (Closing Costs)

The Park Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $2,583.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

Top 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
MADISON, WI (FHA|USDA|VA) 473 $226,485,000 $478,827 $2,374 4.39%
Outside of Metro Areas 10 $4,450,000 $445,000 $2,761 4.67%
JANESVILLE-BELOIT, WI (FHA|USDA|VA) 18 $2,630,000 $146,111 $1,908 4.70%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $2,570,000 $1,285,000 $8,760 3.38%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 10 $2,530,000 $253,000 $1,726 4.60%
Watertown-Fort Atkinson, WI (FHA|USDA|VA) 3 $1,645,000 $548,333 $2,792 4.25%
Baraboo, WI (FHA|USDA|VA) 5 $1,425,000 $285,000 $2,204 4.74%
BOULDER, CO (FHA|USDA|VA) 1 $1,245,000 $1,245,000 $3,439 3.13%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $1,210,000 $605,000 $17,947 4.10%
Breckenridge, CO (FHA|USDA|VA) 1 $1,055,000 $1,055,000 $3,560 5.25%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $755,000 $755,000 $3,718 4.88%
OSHKOSH-NEENAH, WI (FHA|USDA|VA) 2 $620,000 $310,000 $2,638 3.81%
EAU CLAIRE, WI (FHA|USDA|VA) 2 $500,000 $250,000 $2,904 4.44%
Manitowoc, WI (FHA|USDA|VA) 1 $465,000 $465,000 $1,760 3.50%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $415,000 $415,000 $2,342 6.38%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $385,000 $385,000 $4,290 5.25%
LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 1 $375,000 $375,000 $1,877 3.25%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $285,000 $285,000 $0 5.23%
Beaver Dam, WI (FHA|USDA|VA) 2 $280,000 $140,000 $0 5.25%
GREEN BAY, WI (FHA|USDA|VA) 2 $260,000 $130,000 $3,411 4.88%
Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 1 $235,000 $235,000 $1,420 6.25%
APPLETON, WI (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
The Park Bank's top markets include Madison, Janesville, Naples, Milwaukee, and Watertown among others.

Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against The Park Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 316 $210,460,000 $666,013 $2,510 4.42%
    Conventional 225 $39,595,000 $175,978 $0 0.00%

    For 2022, The Park Bank's most frequently originated type of loan was Conventional, with 316 originations. Their 2nd most popular type was Conventional, with 225 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 248 $184,050,000 $742,137 $2,633 4.50%
    Other 123 $16,675,000 $135,569 $10,006 4.00%
    Refi 111 $28,825,000 $259,685 $1,848 4.12%
    Cash Out Refi 52 $18,510,000 $355,962 $2,017 4.15%
    Home Improvement 7 $1,995,000 $285,000 $0 5.25%

    For 2022, The Park Bank's most frequently cited loan purpose was Home Purchase, with 248 originations. The 2nd most popular reason was Other, with 123 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 249 $50,985,000 $204,759 $0 4.45%
    30 Year 213 $94,885,000 $445,469 $2,583 4.34%
    5 Year 35 $80,385,000 $2,296,714 $0 5.04%
    15 Year 18 $4,370,000 $242,778 $1,954 4.02%
    1 Year 16 $4,150,000 $259,375 $0 5.05%
    20 Year 7 $2,085,000 $297,857 $1,851 3.80%
    10 Year 2 $12,790,000 $6,395,000 $1,623 2.88%
    3 Year 1 $405,000 $405,000 $0 3.15%

    For 2022, The Park Bank's most frequently cited loan duration was Other, with 249 originations. The 2nd most popular length was 30 Year, with 213 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 205 $86,335,000 $421,146
    $1k-2k 21 $7,925,000 $377,381
    $2k-3k 6 $3,100,000 $516,667
    $3k-4k 2 $1,240,000 $620,000
    $4k-5k 2 $740,000 $370,000
    $5k+ 2 $1,740,000 $870,000

    The Park Bank's average total fees were $2,583, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 205 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 114 $78,970,000 $692,719
    4-5% 104 $47,500,000 $456,731
    5-6% 59 $70,025,000 $1,186,864
    6-7% 19 $5,855,000 $308,158
    2.5-3% 16 $7,250,000 $453,125
    <2.5% 3 $485,000 $161,667
    7-8% 1 $375,000 $375,000

    During 2022, The Park Bank's average interest rate for loans was 4.34%, while their most frequently originated rate bucket for loans was 3-4%, with 114 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 148 $43,760,000 $295,676 $2,439 4.53%
    $100k-200k 134 $19,760,000 $147,463 $1,973 4.54%
    $100,000 or less 107 $5,655,000 $52,850 $1,736 4.02%
    $400k-600k 76 $35,890,000 $472,237 $2,479 4.47%
    $600k-1MM 48 $35,800,000 $745,833 $3,223 4.12%
    $1MM+ 28 $109,190,000 $3,899,643 $3,346 4.07%

    2022 saw The Park Bank place emphasis on $200k-400k loans with 148 originations, totaling $43,760,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 113 $36,685,000 $324,646 $2,512 4.15%
    $250k+ 106 $56,930,000 $537,075 $2,923 4.12%
    $100k-150k 91 $19,655,000 $215,989 $2,829 4.43%
    $50k-75k 61 $9,365,000 $153,525 $2,030 4.51%
    $75k-100k 61 $10,945,000 $179,426 $2,170 4.64%
    $50k or less 19 $3,515,000 $185,000 $2,269 3.98%

    The Park Bank lent most frequently to those with incomes in the $150k-250k range, with 113 originations. The second most popular income band? $250k+, with 106 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 225 $39,595,000 $175,978 $0 0.00%
    20-30% 57 $23,995,000 $420,965 $2,423 4.20%
    30-36% 52 $21,320,000 $410,000 $2,509 4.35%
    <20% 28 $10,140,000 $362,143 $2,044 3.73%
    40% 13 $4,445,000 $341,923 $2,325 4.36%
    42% 11 $3,795,000 $345,000 $2,449 4.56%
    49% 11 $3,245,000 $295,000 $2,113 5.01%
    38% 9 $4,605,000 $511,667 $2,581 4.25%
    36% 8 $4,080,000 $510,000 $2,187 4.14%
    37% 7 $2,285,000 $326,429 $2,062 3.79%
    >60% 6 $4,820,000 $803,333 $7,094 3.85%
    44% 6 $1,740,000 $290,000 $2,213 4.90%
    39% 6 $2,110,000 $351,667 $2,625 4.98%
    46% 6 $1,940,000 $323,333 $2,797 5.50%
    43% 5 $1,885,000 $377,000 $2,397 4.40%
    50-60% 5 $5,675,000 $1,135,000 $2,492 3.70%
    48% 4 $2,450,000 $612,500 $3,151 4.09%
    45% 2 $990,000 $495,000 $4,191 5.25%
    47% 2 $690,000 $345,000 $1,821 3.94%
    41% 1 $1,165,000 $1,165,000 $1,055 4.38%

    The Park Bank lent most frequently to those with DTI ratios of Exempt%, with 225 originations. The next most common DTI ratio? 20-30%, with 57 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 402 $121,660,000 $302,637 $2,488 4.31%
    Not applicable 79 $109,895,000 $1,391,076 $0 4.80%
    Not provided 29 $7,525,000 $259,483 $2,489 4.01%
    Asian 15 $6,075,000 $405,000 $2,810 4.55%
    Black 10 $3,080,000 $308,000 $2,585 4.22%
    American Indian 2 $740,000 $370,000 $2,745 4.25%
    Other Asian 2 $640,000 $320,000 $3,321 5.16%
    Korean 1 $375,000 $375,000 $1,877 3.25%
    Asian Indian 1 $65,000 $65,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.54%

    The Park Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.06%

    The Park Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 225 $39,595,000 $175,978
    NA 316 $210,460,000 $666,013

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    541 $250,055,000 $462,209

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 12 $2,280,000 $190,000 $1,816 4.48%
    40-60% 48 $16,410,000 $341,875 $2,468 4.33%
    60-80% 142 $125,520,000 $883,944 $2,470 4.43%
    80-100% 110 $65,670,000 $597,000 $2,646 4.44%
    Over 100% 1 $295,000 $295,000 $2,614 3.88%
    Under 20% 3 $285,000 $95,000 $1,791 3.88%