Olympia Federal Savings & Loan Association Mortgage Rates, Fees & Info

Olympia, WA

LEI: 2549008GIE3QVYB2FT28

Tax ID: 91-0346300

5 stars - out of 5 stars, based on 20 reviews

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

Jump to:

  • 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

    Olympia Federal Savings & Loan Association is a smaller mortgage company specializing in Home Purchase and Refi loans. Olympia Federal Savings & Loan Association has a high proportion of conventional loans. Their top markets by origination volume include: Olympia, Shelton, Aberdeen, Seattle, and Centralia among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Olympia Federal Savings & Loan Association 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. Olympia Federal Savings & Loan Association 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 5.49% 4/1/23
    30 Year Conventional Refi 5.95% 4/1/23
    15 Year Conventional Purchase 6.29% 4/1/23
    15 Year Conventional Refi 5.87% 4/1/23
    15 Year Cash-out Refi 5.87% 4/1/23
    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.

    Olympia Federal Savings & Loan Association Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Olympia Federal Savings & Loan Association. 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

    385

    Origination Dollar Volume (All Markets)

    $166,715,000

    Awards

    Olympia Federal Savings & Loan Association 30 Year Conventional Loans gold Olympia Federal Savings & Loan Association 30 Year Conventional Loans gold
    Show all (2) awards

    Relative Rate

    Olympia Federal Savings & Loan Association's average 30 year fixed mortgage rate was 4.12%.

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

    This yields a difference of -0.64%.

    Relative Fees (Closing Costs)

    Olympia Federal Savings & Loan Association's average total fees/closing costs for a 30 year fixed rate mortgage were $4,277.

    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
    OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 221 $98,135,000 $444,050 $4,659 4.29%
    Shelton, WA (FHA|USDA|VA) 62 $23,120,000 $372,903 $5,880 4.40%
    Aberdeen, WA (FHA|USDA|VA) 41 $18,235,000 $444,756 $6,332 4.67%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 22 $11,200,000 $509,091 $7,104 4.43%
    Centralia, WA (FHA|USDA|VA) 23 $9,075,000 $394,565 $5,222 4.93%
    BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 6 $2,870,000 $478,333 $7,333 4.31%
    Outside of Metro Areas 4 $1,430,000 $357,500 $7,423 4.53%
    LONGVIEW, WA (FHA|USDA|VA) 2 $1,370,000 $685,000 $0 4.00%
    Port Angeles, WA (FHA|USDA|VA) 2 $890,000 $445,000 $10,020 3.50%
    BELLINGHAM, WA (FHA|USDA|VA) 1 $275,000 $275,000 $5,638 3.25%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $115,000 $115,000 $4,942 5.00%
    Olympia Federal Savings & Loan Association's top markets include Olympia, Shelton, Aberdeen, Seattle, and Centralia among others.

    Their top states include:
  • Washington (FHA|USDA|VA)
  • (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Olympia Federal Savings & Loan Association based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    SOUND
    Similarity Rank: 300
    PENINSULA COMMUNITY
    Similarity Rank: 616
    CU HOME MORTGAGE SOLUTIONS, LLC
    Similarity Rank: 624
    Bank of the Pacific
    Similarity Rank: 759
    TWINSTAR
    Similarity Rank: 931
    KITSAP Credit Union
    Similarity Rank: 1044
    America's Credit Union
    Similarity Rank: 1176
    Olympia Federal Savings & Loan Association
    Similarity Rank: 1375
    MORTGAGE MASTER SERVICE CORPORATION
    Similarity Rank: 1680
    PENTAGON FEDERAL CREDIT UNION
    Similarity Rank: 2010

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 385 $166,715,000 $433,026 $5,379 4.39%

    For 2022, Olympia Federal Savings & Loan Association's most frequently originated type of loan was Conventional, with 385 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 221 $116,585,000 $527,534 $7,753 4.51%
    Refi 114 $43,170,000 $378,684 $2,326 3.88%
    Home Improvement 31 $3,565,000 $115,000 $1,766 5.09%
    Other 19 $3,395,000 $178,684 $1,409 4.93%

    For 2022, Olympia Federal Savings & Loan Association's most frequently cited loan purpose was Home Purchase, with 221 originations. The 2nd most popular reason was Refi, with 114 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 186 $67,940,000 $365,269 $4,277 4.12%
    30+ year 111 $59,565,000 $536,622 $9,165 4.61%
    Other 26 $10,880,000 $418,462 $3,278 5.44%
    15 Year 25 $4,255,000 $170,200 $1,532 4.35%
    10 Year 22 $10,110,000 $459,545 $815 4.30%
    20 Year 12 $3,710,000 $309,167 $2,059 4.06%
    5 Year 2 $350,000 $175,000 $5,843 6.88%
    3 Year 1 $9,905,000 $9,905,000 $0 4.50%

    For 2022, Olympia Federal Savings & Loan Association's most frequently cited loan duration was 30 Year, with 186 originations. The 2nd most popular length was 30+ year, with 111 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 152 $40,040,000 $263,421
    $5k+ 93 $56,645,000 $609,086
    $3k-4k 25 $9,835,000 $393,400
    $2k-3k 19 $5,955,000 $313,421
    $4k-5k 19 $8,635,000 $454,474
    $1k-2k 15 $4,675,000 $311,667

    Olympia Federal Savings & Loan Association's average total fees were $4,277, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 152 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 126 $56,090,000 $445,159
    4-5% 104 $55,780,000 $536,346
    5-6% 67 $29,625,000 $442,164
    2.5-3% 46 $12,490,000 $271,522
    6-7% 25 $9,615,000 $384,600
    7-8% 11 $1,605,000 $145,909
    <2.5% 6 $1,510,000 $251,667

    During 2022, Olympia Federal Savings & Loan Association's average interest rate for loans was 4.12%, while their most frequently originated rate bucket for loans was 3-4%, with 126 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 137 $41,085,000 $299,891 $4,660 4.13%
    $400k-600k 91 $44,595,000 $490,055 $6,597 4.41%
    $100k-200k 57 $8,335,000 $146,228 $2,304 4.38%
    $600k-1MM 46 $33,010,000 $717,609 $8,813 4.37%
    $100,000 or less 35 $1,845,000 $52,714 $1,088 5.15%
    $1MM+ 19 $37,845,000 $1,991,842 $15,655 4.84%

    2022 saw Olympia Federal Savings & Loan Association place emphasis on $200k-400k loans with 137 originations, totaling $41,085,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 107 $44,665,000 $417,430 $6,111 4.63%
    $100k-150k 84 $28,950,000 $344,643 $5,002 4.48%
    $75k-100k 54 $13,470,000 $249,444 $3,448 4.20%
    $250k+ 46 $30,490,000 $662,826 $9,308 4.75%
    $50k-75k 40 $10,390,000 $259,750 $3,919 3.42%
    $50k or less 15 $2,085,000 $139,000 $3,215 3.39%

    Olympia Federal Savings & Loan Association lent most frequently to those with incomes in the $150k-250k range, with 107 originations. The second most popular income band? $100k-150k, with 84 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 107 $39,125,000 $365,654 $5,218 4.36%
    20-30% 76 $26,520,000 $348,947 $4,889 4.40%
    <20% 31 $8,975,000 $289,516 $3,857 4.26%
    40% 26 $11,670,000 $448,846 $6,366 4.40%
    37% 20 $8,300,000 $415,000 $6,331 4.26%
    38% 19 $8,745,000 $460,263 $5,880 4.13%
    39% 19 $6,355,000 $334,474 $4,575 4.32%
    41% 19 $6,735,000 $354,474 $5,800 4.14%
    36% 17 $7,325,000 $430,882 $6,238 4.35%
    42% 7 $3,205,000 $457,857 $7,670 5.05%
    43% 7 $2,905,000 $415,000 $5,205 4.77%
    44% 2 $1,530,000 $765,000 $11,184 3.94%
    >60% 2 $1,010,000 $505,000 $3,117 2.69%
    45% 1 $305,000 $305,000 $6,930 3.75%

    Olympia Federal Savings & Loan Association lent most frequently to those with DTI ratios of 30-36%, with 107 originations. The next most common DTI ratio? 20-30%, with 76 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 248 $93,780,000 $378,145 $5,324 4.28%
    Not applicable 32 $34,010,000 $1,062,813 $8,846 4.95%
    Not provided 83 $31,465,000 $379,096 $5,505 4.51%
    Asian 13 $5,045,000 $388,077 $5,855 4.16%
    American Indian 5 $1,355,000 $271,000 $4,733 4.30%
    Native Hawaiian or Islander 2 $610,000 $305,000 $6,049 6.19%
    Black 2 $450,000 $225,000 $3,220 3.81%

    Approval Rates

    Total approvals of all applications
    92.30%

    Olympia Federal Savings & Loan Association has an average approval rate.

    Pick Rate

    Approvals leading to origination
    62.86%

    Olympia Federal Savings & Loan Association has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 1 $135,000 $135,000
    1080.0 1 $105,000 $105,000
    15.0 1 $105,000 $105,000
    NA 382 $166,370,000 $435,524

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    385 $166,715,000 $433,026

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 48 $8,800,000 $183,333 $2,332 4.03%
    40-60% 67 $32,555,000 $485,896 $4,379 4.17%
    60-80% 150 $79,870,000 $532,467 $6,434 4.40%
    80-100% 78 $42,360,000 $543,077 $7,825 4.36%
    Under 20% 42 $3,130,000 $74,524 $1,182 5.16%