The Park Bank Mortgage Rates, Fees & Info

Madison, WI

LEI: YQI2CPR3Z44KAR0HG822

Tax ID: 39-1076859

5 stars - Updated: 4/5/25 - out of 5 stars, based on 18 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • 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, Janesville, Milwaukee, Baraboo, and Phoenix among others. We have data for 16 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
    Home Equity Line of Credit (HELOC) 6.72% 4/5/25
    30 Year Conventional Purchase 6.69% 4/5/25
    30 Year Conventional Refi 6.48% 4/5/25
    30 Year Cash-out Refi 6.67% 4/5/25
    15 Year Conventional Purchase 6.12% 4/5/25
    15 Year Conventional Refi 5.82% 4/5/25
    15 Year Cash-out Refi 5.82% 4/5/25
    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

    336

    Origination Dollar Volume (All Markets)

    $108,300,000

    Awards

    The Park Bank 30 Year Conventional Loans gold 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 6.54%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of -0.01%.

    Relative Fees (Closing Costs)

    The Park Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $2,615.

    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 $8,356.

    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) 294 $98,500,000 $335,034 $2,480 6.59%
    Outside of Metro Areas 7 $2,835,000 $405,000 $2,546 6.56%
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 13 $1,995,000 $153,462 $3,112 7.42%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 4 $730,000 $182,500 $2,068 6.31%
    Baraboo, WI (FHA|USDA|VA) 4 $720,000 $180,000 $2,670 5.94%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $585,000 $585,000 $5,323 7.25%
    Platteville, WI (FHA|USDA|VA) 1 $535,000 $535,000 $1,293 5.88%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $505,000 $505,000 $3,425 6.88%
    WAUSAU-WESTON, WI (FHA|USDA|VA) 2 $500,000 $250,000 $4,069 6.25%
    APPLETON, WI (FHA|USDA|VA) 1 $295,000 $295,000 $1,906 6.88%
    TUCSON, AZ (FHA|USDA|VA) 1 $255,000 $255,000 $3,677 6.38%
    Beaver Dam, WI (FHA|USDA|VA) 1 $245,000 $245,000 $1,872 6.00%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 2 $210,000 $105,000 $0 0.00%
    FOND DU LAC, WI (FHA|USDA|VA) 1 $155,000 $155,000 $2,547 6.25%
    Whitewater, WI (FHA|USDA|VA) 2 $150,000 $75,000 $0 0.00%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
    The Park Bank's top markets include Madison, Janesville, Milwaukee, Baraboo, and Phoenix among others.

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

    Glacier Hills Credit Union
    Similarity Rank: 49
    NORTHWESTERN MUTUAL
    Similarity Rank: 91
    National Exchange Bank and Trust
    Similarity Rank: 189
    Heartland Credit Union (Madison)
    Similarity Rank: 204
    Westbury Bank
    Similarity Rank: 220
    First Community Credit Union
    Similarity Rank: 225
    Blackhawk Community Credit Union
    Similarity Rank: 276
    The Park Bank
    Similarity Rank: 288
    PRIME FINANCIAL CREDIT UNION
    Similarity Rank: 336
    Starion Bank
    Similarity Rank: 460

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 205 $83,075,000 $405,244 $2,526 6.56%
    Conventional 128 $25,020,000 $195,469 $0 0.00%
    HELOC 3 $205,000 $68,333 n/a 9.08%

    For 2024, The Park Bank's most frequently originated type of loan was Conventional, with 205 originations. Their 2nd most popular type was Conventional, with 128 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 170 $69,290,000 $407,588 $2,751 6.62%
    Refi 75 $26,315,000 $350,867 $1,740 6.51%
    Home Improvement 39 $3,825,000 $98,077 $0 7.88%
    Other 37 $5,045,000 $136,351 $2,139 6.31%
    Cash Out Refi 15 $3,825,000 $255,000 $2,055 6.41%

    For 2024, The Park Bank's most frequently cited loan purpose was Home Purchase, with 170 originations. The 2nd most popular reason was Refi, with 75 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 176 $72,770,000 $413,466 $2,615 6.54%
    Other 130 $25,840,000 $198,769 $1,990 6.76%
    15 Year 10 $3,030,000 $303,000 $1,858 5.76%
    3 Year 7 $3,535,000 $505,000 $0 8.25%
    20 Year 6 $2,340,000 $390,000 $2,016 6.00%
    1 Year 3 $205,000 $68,333 $0 9.08%
    10 Year 3 $325,000 $108,333 $0 6.50%
    5 Year 1 $255,000 $255,000 $0 8.00%

    For 2024, The Park Bank's most frequently cited loan duration was 30 Year, with 176 originations. The 2nd most popular length was Other, with 130 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 171 $70,805,000 $414,064
    $1k-2k 6 $2,750,000 $458,333
    $2k-3k 3 $695,000 $231,667
    $3k-4k 2 $530,000 $265,000

    The Park Bank's average total fees were $2,615, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 171 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 133 $54,075,000 $406,579
    5-6% 44 $15,230,000 $346,136
    7-8% 22 $9,570,000 $435,000
    Over 8% 8 $4,100,000 $512,500

    During 2024, The Park Bank's average interest rate for loans was 6.54%, while their most frequently originated rate bucket for loans was 6-7%, with 133 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 110 $32,000,000 $290,909 $2,612 6.49%
    $400k-600k 66 $31,830,000 $482,273 $2,614 6.76%
    $100,000 or less 60 $3,190,000 $53,167 $0 7.47%
    $100k-200k 58 $8,450,000 $145,690 $2,279 6.39%
    $600k-1MM 38 $28,060,000 $738,421 $2,468 6.58%
    $1MM+ 4 $4,770,000 $1,192,500 $2,364 8.25%

    2024 saw The Park Bank place emphasis on $200k-400k loans with 110 originations, totaling $32,000,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 91 $30,565,000 $335,879 $2,560 6.60%
    $250k+ 86 $42,580,000 $495,116 $2,457 6.67%
    $100k-150k 67 $15,505,000 $231,418 $2,654 6.46%
    $75k-100k 34 $6,700,000 $197,059 $2,305 6.30%
    $50k-75k 31 $5,385,000 $173,710 $2,643 6.18%
    $50k or less 6 $580,000 $96,667 $2,310 6.31%

    The Park Bank lent most frequently to those with incomes in the $150k-250k range, with 91 originations. The second most popular income band? $250k+, with 86 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 128 $25,020,000 $195,469 $0 0.00%
    20-30% 44 $18,600,000 $422,727 $2,530 6.43%
    30-36% 38 $15,010,000 $395,000 $2,594 6.49%
    <20% 19 $8,005,000 $421,316 $2,477 6.60%
    40% 13 $5,285,000 $406,538 $2,432 6.34%
    44% 12 $4,350,000 $362,500 $2,299 6.27%
    42% 12 $4,590,000 $382,500 $2,699 6.39%
    39% 9 $3,035,000 $337,222 $2,512 6.32%
    48% 7 $2,495,000 $356,429 $2,175 6.75%
    38% 6 $2,110,000 $351,667 $2,942 6.58%
    41% 6 $1,620,000 $270,000 $2,537 6.19%
    45% 6 $2,680,000 $446,667 $2,807 6.52%
    46% 6 $2,110,000 $351,667 $2,439 6.73%
    47% 6 $3,000,000 $500,000 $2,687 6.44%
    43% 5 $1,775,000 $355,000 $2,127 6.31%
    >60% 3 $2,665,000 $888,333 $2,714 8.17%
    36% 2 $350,000 $175,000 $1,403 6.38%
    49% 1 $585,000 $585,000 $1,412 7.25%
    50-60% 1 $495,000 $495,000 $4,510 6.63%

    The Park Bank lent most frequently to those with DTI ratios of Exempt%, with 128 originations. The next most common DTI ratio? 20-30%, with 44 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 266 $84,670,000 $318,308 $2,579 6.48%
    Not provided 40 $12,980,000 $324,500 $2,271 6.49%
    Not applicable 10 $4,230,000 $423,000 $0 8.46%
    Asian 7 $2,765,000 $395,000 $2,211 6.53%
    Asian Indian 3 $1,225,000 $408,333 $1,532 7.13%
    American Indian 3 $925,000 $308,333 $3,591 6.92%
    Black 3 $605,000 $201,667 $0 0.00%
    Filipino 2 $400,000 $200,000 $2,100 6.94%
    Native Hawaiian or Islander 1 $295,000 $295,000 $1,514 5.75%
    Chinese 1 $205,000 $205,000 $2,948 6.25%

    Approval Rates

    Total approvals of all applications
    94.23%

    The Park Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.52%

    The Park Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 128 $25,020,000 $195,469
    NA 208 $83,280,000 $400,385

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    336 $108,300,000 $322,321

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 7 $2,055,000 $293,571 $2,333 6.68%
    40-60% 41 $16,275,000 $396,951 $2,160 6.71%
    60-80% 81 $35,505,000 $438,333 $2,502 6.53%
    80-100% 64 $26,400,000 $412,500 $2,876 6.49%
    Under 20% 9 $1,235,000 $137,222 $1,121 7.26%