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

Olympia, WA

LEI: 2549008GIE3QVYB2FT28

Tax ID: 91-0346300

5 stars - Updated: 4/25/24 - out of 5 stars, based on 15 reviews

Latest/2023 | 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

    Olympia Federal Savings & Loan Association is a smaller mortgage company specializing in Home Purchase loans. Olympia Federal Savings & Loan Association has a high proportion of conventional loans. Their top markets by origination volume include: Olympia, Shelton, Seattle, Centralia, and Aberdeen among others. We have data for 8 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 an average 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 5.49% 4/25/24
    30 Year Conventional Refi 5.95% 4/25/24
    15 Year Conventional Purchase 6.29% 4/25/24
    15 Year Conventional Refi 5.87% 4/25/24
    15 Year Cash-out Refi 5.87% 4/25/24
    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.

    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

    213

    Origination Dollar Volume (All Markets)

    $74,255,000
    Show all (5) awards

    Relative Rate

    Olympia Federal Savings & Loan Association's average 30 year fixed mortgage rate was 5.27%.

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

    This yields a difference of -1.21%.

    Relative Fees (Closing Costs)

    Olympia Federal Savings & Loan Association's average total fees/closing costs for a 30 year fixed rate mortgage were $5,043.

    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
    OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 140 $43,490,000 $310,643 $4,947 6.06%
    Shelton, WA (FHA|USDA|VA) 39 $10,595,000 $271,667 $4,957 6.58%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 14 $8,590,000 $613,571 $7,825 7.19%
    Centralia, WA (FHA|USDA|VA) 7 $4,445,000 $635,000 $7,673 6.89%
    Aberdeen, WA (FHA|USDA|VA) 10 $3,800,000 $380,000 $7,158 7.29%
    LONGVIEW, WA (FHA|USDA|VA) 1 $2,955,000 $2,955,000 $0 9.75%
    Outside of Metro Areas 1 $305,000 $305,000 $5,093 6.63%
    BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 1 $75,000 $75,000 $1,156 8.00%
    Olympia Federal Savings & Loan Association's top markets include Olympia, Shelton, Seattle, Centralia, and Aberdeen 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.

    Olympia Federal Savings & Loan Association
    Similarity Rank: 80
    Timberland Bank
    Similarity Rank: 108
    Bank of the Pacific
    Similarity Rank: 133
    America's Credit Union
    Similarity Rank: 196
    WASHINGTON STATE EMPLOYEES Credit Union
    Similarity Rank: 340
    South Pacific Financial Corporation
    Similarity Rank: 396
    O BEE
    Similarity Rank: 748
    TWINSTAR
    Similarity Rank: 1056
    Boeing Employees Credit Union
    Similarity Rank: 2185
    HomeStreet Bank
    Similarity Rank: 2772

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 213 $74,255,000 $348,615 $5,309 6.35%

    For 2023, Olympia Federal Savings & Loan Association's most frequently originated type of loan was Conventional, with 213 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 155 $63,905,000 $412,290 $6,485 5.86%
    Home Improvement 24 $3,240,000 $135,000 $2,210 8.04%
    Refi 19 $5,525,000 $290,789 $2,834 6.57%
    Other 15 $1,585,000 $105,667 $1,360 8.33%

    For 2023, Olympia Federal Savings & Loan Association's most frequently cited loan purpose was Home Purchase, with 155 originations. The 2nd most popular reason was Home Improvement, with 24 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 108 $33,630,000 $311,389 $5,043 5.27%
    30+ year 49 $28,475,000 $581,122 $8,997 6.80%
    Other 31 $9,295,000 $299,839 $2,185 8.27%
    15 Year 13 $1,205,000 $92,692 $1,460 8.02%
    10 Year 6 $890,000 $148,333 $2,079 7.65%
    20 Year 4 $430,000 $107,500 $2,788 6.50%
    5 Year 2 $330,000 $165,000 $6,380 8.50%

    For 2023, Olympia Federal Savings & Loan Association's most frequently cited loan duration was 30 Year, with 108 originations. The 2nd most popular length was 30+ year, with 49 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 84 $14,540,000 $173,095
    $2k-3k 35 $12,385,000 $353,857
    $5k+ 30 $23,520,000 $784,000
    $4k-5k 19 $8,975,000 $472,368
    $1k-2k 15 $4,505,000 $300,333
    $3k-4k 12 $3,560,000 $296,667

    Olympia Federal Savings & Loan Association's average total fees were $5,043, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 84 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 58 $24,910,000 $429,483
    7-8% 49 $20,405,000 $416,429
    Over 8% 31 $5,975,000 $192,742
    5-6% 27 $11,555,000 $427,963
    4-5% 17 $3,385,000 $199,118
    2.5-3% 16 $4,220,000 $263,750
    3-4% 15 $3,805,000 $253,667

    During 2023, Olympia Federal Savings & Loan Association's average interest rate for loans was 5.27%, while their most frequently originated rate bucket for loans was 6-7%, with 58 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 72 $21,040,000 $292,222 $4,935 5.33%
    $400k-600k 45 $21,485,000 $477,444 $6,378 6.43%
    $100k-200k 37 $5,415,000 $146,351 $2,740 6.65%
    $100,000 or less 36 $2,330,000 $64,722 $1,364 7.50%
    $600k-1MM 18 $13,000,000 $722,222 $11,118 6.94%
    $1MM+ 5 $10,985,000 $2,197,000 $26,330 7.58%

    2023 saw Olympia Federal Savings & Loan Association place emphasis on $200k-400k loans with 72 originations, totaling $21,040,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 48 $14,500,000 $302,083 $4,362 6.85%
    $150k-250k 48 $19,140,000 $398,750 $5,733 7.16%
    $50k-75k 45 $9,485,000 $210,778 $4,101 4.84%
    $250k+ 25 $18,315,000 $732,600 $10,985 7.08%
    $75k-100k 23 $4,715,000 $205,000 $3,891 6.35%
    $50k or less 10 $1,480,000 $148,000 $2,974 4.13%

    Olympia Federal Savings & Loan Association lent most frequently to those with incomes in the $100k-150k range, with 48 originations. The second most popular income band? $150k-250k, with 48 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 70 $24,070,000 $343,857 $5,732 5.84%
    20-30% 52 $19,060,000 $366,538 $5,685 6.44%
    39% 14 $4,040,000 $288,571 $4,246 6.01%
    40% 14 $3,640,000 $260,000 $3,945 6.61%
    36% 13 $4,615,000 $355,000 $5,541 6.35%
    38% 12 $3,130,000 $260,833 $4,242 6.93%
    <20% 9 $2,845,000 $316,111 $4,668 6.88%
    37% 9 $2,675,000 $297,222 $4,331 6.82%
    41% 6 $1,950,000 $325,000 $4,629 6.60%
    42% 3 $1,695,000 $565,000 $9,616 7.08%
    >60% 1 $795,000 $795,000 $12,096 6.88%

    Olympia Federal Savings & Loan Association lent most frequently to those with DTI ratios of 30-36%, with 70 originations. The next most common DTI ratio? 20-30%, with 52 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 168 $53,490,000 $318,393 $5,029 6.40%
    Not provided 28 $14,190,000 $506,786 $7,095 5.99%
    Not applicable 8 $3,890,000 $486,250 $3,173 7.63%
    Asian 4 $1,380,000 $345,000 $5,242 4.31%
    American Indian 4 $1,000,000 $250,000 $4,072 6.56%
    Black 1 $305,000 $305,000 $10,413 3.75%

    Approval Rates

    Total approvals of all applications
    91.76%

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

    Pick Rate

    Approvals leading to origination
    62.91%

    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
    1350.0 1 $135,000 $135,000
    440.0 1 $75,000 $75,000
    765.0 1 $75,000 $75,000
    850.0 3 $285,000 $95,000
    NA 207 $73,685,000 $355,966

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    213 $74,255,000 $348,615

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 27 $4,265,000 $157,963 $3,171 6.47%
    40-60% 30 $14,260,000 $475,333 $6,480 5.70%
    60-80% 60 $24,690,000 $411,500 $6,353 6.09%
    80-100% 59 $28,135,000 $476,864 $6,874 5.71%
    Under 20% 37 $2,905,000 $78,514 $1,173 8.20%