The Park Bank Mortgage Rates, Fees & Info

Madison, WI

LEI: YQI2CPR3Z44KAR0HG822

Tax ID: 39-1076859

5 stars - Updated: 11/3/24 - out of 5 stars, based on 20 reviews

Latest/2023 | 2022 Data | 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 and Refi 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, Milwaukee, Janesville, Baraboo, and Key West among others. We have data for 18 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 relatively high 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% 11/3/24
30 Year Conventional Refi 6.26% 11/3/24
30 Year Cash-out Refi 6.45% 11/3/24
15 Year Conventional Purchase 5.61% 11/3/24
15 Year Conventional Refi 5.76% 11/3/24
15 Year Cash-out Refi 5.76% 11/3/24
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

399

Origination Dollar Volume (All Markets)

$172,225,000

Awards

The Park Bank 30 Year Conventional Loans silver The Park Bank 30 Year Conventional Loans gold
Show all (2) awards

Relative Rate

The Park Bank's average 30 year fixed mortgage rate was 6.45%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.03%.

Relative Fees (Closing Costs)

The Park Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $2,542.

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 $9,089.

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) 336 $138,880,000 $413,333 $2,493 6.54%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 7 $15,255,000 $2,179,286 $2,055 6.31%
Outside of Metro Areas 12 $7,120,000 $593,333 $2,607 6.95%
JANESVILLE-BELOIT, WI (FHA|USDA|VA) 21 $3,355,000 $159,762 $2,567 6.58%
Baraboo, WI (FHA|USDA|VA) 6 $1,700,000 $283,333 $1,727 6.25%
Key West, FL (FHA|USDA|VA) 1 $1,205,000 $1,205,000 $7,843 6.50%
Whitewater, WI (FHA|USDA|VA) 1 $1,035,000 $1,035,000 $1,558 6.25%
Watertown-Fort Atkinson, WI (FHA|USDA|VA) 4 $900,000 $225,000 $2,249 5.96%
SHEBOYGAN, WI (FHA|USDA|VA) 2 $590,000 $295,000 $2,601 5.19%
LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 1 $435,000 $435,000 $3,366 6.75%
Shawano, WI (FHA|USDA|VA) 1 $365,000 $365,000 $2,047 6.25%
GREEN BAY, WI (FHA|USDA|VA) 1 $295,000 $295,000 $2,089 6.38%
Platteville, WI (FHA|USDA|VA) 1 $275,000 $275,000 $0 6.95%
WAUSAU-WESTON, WI (FHA|USDA|VA) 1 $215,000 $215,000 $2,200 7.63%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
Breckenridge, CO (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
RACINE, WI (FHA|USDA|VA) 1 $125,000 $125,000 $1,348 5.75%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $115,000 $115,000 $2,644 6.00%
The Park Bank's top markets include Madison, Milwaukee, Janesville, Baraboo, and Key West among others.

Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Colorado (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.

    NORTHWESTERN MUTUAL
    Similarity Rank: 44
    Glacier Hills Credit Union
    Similarity Rank: 54
    National Exchange Bank and Trust
    Similarity Rank: 112
    First Community Credit Union
    Similarity Rank: 136
    Starion Bank
    Similarity Rank: 147
    Citizens Bank
    Similarity Rank: 192
    Empower Credit Union
    Similarity Rank: 203
    Bank of Sun Prairie
    Similarity Rank: 270
    PyraMax Bank, FSB
    Similarity Rank: 270
    Heartland Credit Union (Madison)
    Similarity Rank: 270

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 218 $134,700,000 $617,890 $2,489 6.53%
    Conventional 181 $37,525,000 $207,320 $0 0.00%

    For 2023, The Park Bank's most frequently originated type of loan was Conventional, with 218 originations. Their 2nd most popular type was Conventional, with 181 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 192 $106,520,000 $554,792 $2,569 6.48%
    Refi 119 $49,195,000 $413,403 $1,938 7.07%
    Other 65 $11,625,000 $178,846 $2,029 5.50%
    Cash Out Refi 15 $3,605,000 $240,333 $2,037 6.38%
    Home Improvement 8 $1,280,000 $160,000 $1,397 7.01%

    For 2023, The Park Bank's most frequently cited loan purpose was Home Purchase, with 192 originations. The 2nd most popular reason was Refi, with 119 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 186 $41,130,000 $221,129 $1,392 7.37%
    30 Year 182 $82,580,000 $453,736 $2,542 6.45%
    15 Year 13 $3,695,000 $284,231 $2,154 6.02%
    5 Year 10 $17,130,000 $1,713,000 $0 7.43%
    1 Year 4 $15,930,000 $3,982,500 $0 8.63%
    3 Year 2 $11,280,000 $5,640,000 $0 6.48%
    20 Year 1 $475,000 $475,000 $1,458 6.38%
    10 Year 1 $5,000 $5,000 $0 5.63%

    For 2023, The Park Bank's most frequently cited loan duration was Other, with 186 originations. The 2nd most popular length was 30 Year, with 182 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 173 $80,205,000 $463,613
    $1k-2k 9 $3,315,000 $368,333
    $2k-3k 2 $620,000 $310,000
    $3k-4k 1 $315,000 $315,000
    $5k+ 1 $485,000 $485,000

    The Park Bank's average total fees were $2,542, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 173 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 114 $50,500,000 $442,982
    5-6% 54 $40,130,000 $743,148
    7-8% 31 $27,425,000 $884,677
    Over 8% 11 $8,225,000 $747,727
    4-5% 8 $8,420,000 $1,052,500

    During 2023, The Park Bank's average interest rate for loans was 6.45%, while their most frequently originated rate bucket for loans was 6-7%, with 114 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 121 $35,105,000 $290,124 $2,528 6.36%
    $100k-200k 97 $14,105,000 $145,412 $2,091 6.61%
    $100,000 or less 69 $3,865,000 $56,014 $1,589 6.74%
    $400k-600k 59 $28,115,000 $476,525 $2,660 6.71%
    $1MM+ 27 $71,625,000 $2,652,778 $3,301 6.60%
    $600k-1MM 26 $19,410,000 $746,538 $2,181 6.57%

    2023 saw The Park Bank place emphasis on $200k-400k loans with 121 originations, totaling $35,105,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 105 $60,665,000 $577,762 $2,654 6.54%
    $150k-250k 95 $26,965,000 $283,842 $2,501 6.59%
    $100k-150k 79 $17,865,000 $226,139 $2,369 6.37%
    $75k-100k 36 $6,370,000 $176,944 $2,456 6.23%
    $50k-75k 34 $5,770,000 $169,706 $2,291 6.19%
    $50k or less 15 $1,935,000 $129,000 $2,123 6.36%

    The Park Bank lent most frequently to those with incomes in the $250k+ range, with 105 originations. The second most popular income band? $150k-250k, with 95 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 181 $37,525,000 $207,320 $0 0.00%
    30-36% 40 $16,260,000 $406,500 $2,405 6.44%
    20-30% 36 $12,930,000 $359,167 $2,475 6.28%
    <20% 21 $11,875,000 $565,476 $2,940 6.42%
    36% 10 $7,840,000 $784,000 $2,497 6.90%
    42% 9 $3,935,000 $437,222 $2,390 6.56%
    49% 9 $2,765,000 $307,222 $2,858 6.33%
    48% 8 $2,450,000 $306,250 $1,917 6.28%
    38% 7 $2,625,000 $375,000 $2,397 6.23%
    41% 7 $1,725,000 $246,429 $2,661 6.50%
    47% 7 $2,375,000 $339,286 $2,408 6.52%
    39% 7 $2,155,000 $307,857 $2,447 6.84%
    46% 7 $2,255,000 $322,143 $2,459 6.39%
    37% 6 $1,680,000 $280,000 $2,385 6.25%
    44% 6 $5,330,000 $888,333 $2,348 5.81%
    43% 5 $1,295,000 $259,000 $3,392 6.68%
    40% 5 $2,035,000 $407,000 $1,429 6.53%
    50-60% 4 $4,560,000 $1,140,000 $2,815 6.97%
    45% 3 $2,665,000 $888,333 $2,487 5.63%
    >60% 1 $65,000 $65,000 $1,392 7.75%

    The Park Bank lent most frequently to those with DTI ratios of Exempt%, with 181 originations. The next most common DTI ratio? 30-36%, with 40 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 320 $107,690,000 $336,531 $2,523 6.38%
    Not applicable 25 $50,225,000 $2,009,000 $0 7.46%
    Not provided 29 $5,965,000 $205,690 $2,122 6.72%
    Asian 14 $4,160,000 $297,143 $2,244 6.88%
    Black 8 $3,460,000 $432,500 $2,454 6.45%
    Native Hawaiian or Islander 2 $520,000 $260,000 $2,706 6.94%
    Other Asian 1 $205,000 $205,000 $2,765 6.75%

    Approval Rates

    Total approvals of all applications
    94.74%

    The Park Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.72%

    The Park Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 181 $37,525,000 $207,320
    NA 218 $134,700,000 $617,890

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    399 $172,225,000 $431,642

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 17 $4,235,000 $249,118 $2,282 6.44%
    40-60% 32 $26,370,000 $824,063 $2,041 6.45%
    60-80% 84 $62,140,000 $739,762 $2,369 6.56%
    80-100% 76 $40,320,000 $530,526 $2,870 6.48%
    Over 100% 1 $105,000 $105,000 $1,792 7.75%
    Under 20% 8 $1,530,000 $191,250 $1,236 6.95%