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

Olympia, WA

LEI: 2549008GIE3QVYB2FT28

Tax ID: 91-0346300

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • 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, Centralia, Aberdeen, and Seattle among others. We have data for 10 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 5.49% 12/16/24
    30 Year Conventional Refi 5.95% 12/16/24
    15 Year Conventional Purchase 6.29% 12/16/24
    15 Year Conventional Refi 5.87% 12/16/24
    15 Year Cash-out Refi 5.87% 12/16/24
    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

    439

    Origination Dollar Volume (All Markets)

    $165,985,000

    Employee count

    130

    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

    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) 253 $98,015,000 $387,411 $3,818 3.48%
    Shelton, WA (FHA|USDA|VA) 72 $22,430,000 $311,528 $5,043 3.50%
    Centralia, WA (FHA|USDA|VA) 34 $14,880,000 $437,647 $5,584 3.57%
    Aberdeen, WA (FHA|USDA|VA) 40 $13,610,000 $340,250 $7,175 3.67%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 24 $11,350,000 $472,917 $7,566 3.63%
    BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 9 $3,475,000 $386,111 $4,696 3.32%
    Outside of Metro Areas 4 $1,420,000 $355,000 $4,522 3.38%
    Port Angeles, WA (FHA|USDA|VA) 1 $355,000 $355,000 $6,181 3.63%
    BELLINGHAM, WA (FHA|USDA|VA) 1 $355,000 $355,000 $4,188 3.13%
    LONGVIEW, WA (FHA|USDA|VA) 1 $95,000 $95,000 $4,055 3.25%
    Olympia Federal Savings & Loan Association's top markets include Olympia, Shelton, Centralia, Aberdeen, and Seattle among others.

    Their top states include:
  • Washington (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: 252
    O BEE
    Similarity Rank: 447
    PENINSULA COMMUNITY
    Similarity Rank: 539
    CU HOME MORTGAGE SOLUTIONS, LLC
    Similarity Rank: 672
    America's Credit Union
    Similarity Rank: 896
    Bank of the Pacific
    Similarity Rank: 1218
    KITSAP Credit Union
    Similarity Rank: 1218
    Olympia Federal Savings & Loan Association
    Similarity Rank: 1250
    TWINSTAR
    Similarity Rank: 1387
    Heritage Bank
    Similarity Rank: 1634

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 439 $165,985,000 $378,098 $4,729 3.51%

    For 2021, Olympia Federal Savings & Loan Association's most frequently originated type of loan was Conventional, with 439 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 242 $100,290,000 $414,421 $7,060 3.68%
    Refi 173 $60,185,000 $347,890 $2,115 3.24%
    Home Improvement 13 $3,365,000 $258,846 $1,426 3.41%
    Other 11 $2,145,000 $195,000 $1,376 4.14%

    For 2021, Olympia Federal Savings & Loan Association's most frequently cited loan purpose was Home Purchase, with 242 originations. The 2nd most popular reason was Refi, with 173 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 190 $66,390,000 $349,421 $3,175 3.44%
    30+ year 141 $67,455,000 $478,404 $8,075 3.66%
    15 Year 37 $9,435,000 $255,000 $2,035 2.91%
    20 Year 34 $7,910,000 $232,647 $2,024 3.43%
    10 Year 18 $8,810,000 $489,444 $1,295 3.13%
    Other 18 $5,830,000 $323,889 $3,746 4.75%
    5 Year 1 $155,000 $155,000 $5,278 6.00%

    For 2021, Olympia Federal Savings & Loan Association's most frequently cited loan duration was 30 Year, with 190 originations. The 2nd most popular length was 30+ year, with 141 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 192 $58,380,000 $304,063
    $5k+ 94 $50,670,000 $539,043
    $4k-5k 39 $17,505,000 $448,846
    $3k-4k 28 $8,520,000 $304,286
    $1k-2k 19 $4,405,000 $231,842
    $2k-3k 15 $4,325,000 $288,333

    Olympia Federal Savings & Loan Association's average total fees were $3,175, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 192 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 321 $131,505,000 $409,673
    2.5-3% 77 $21,645,000 $281,104
    4-5% 15 $9,335,000 $622,333
    <2.5% 12 $2,540,000 $211,667
    5-6% 12 $880,000 $73,333
    6-7% 2 $80,000 $40,000

    During 2021, Olympia Federal Savings & Loan Association's average interest rate for loans was 3.44%, while their most frequently originated rate bucket for loans was 3-4%, with 321 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 157 $47,055,000 $299,713 $3,946 3.38%
    $400k-600k 106 $50,900,000 $480,189 $6,180 3.48%
    $100k-200k 88 $13,560,000 $154,091 $2,506 3.37%
    $600k-1MM 58 $41,370,000 $713,276 $8,070 3.67%
    $100,000 or less 24 $1,490,000 $62,083 $1,332 4.53%
    $1MM+ 6 $11,610,000 $1,935,000 $6,625 3.89%

    2021 saw Olympia Federal Savings & Loan Association place emphasis on $200k-400k loans with 157 originations, totaling $47,055,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 133 $44,965,000 $338,083 $4,983 3.58%
    $150k-250k 112 $50,730,000 $452,946 $5,605 3.50%
    $75k-100k 69 $18,725,000 $271,377 $4,177 3.51%
    $250k+ 42 $22,590,000 $537,857 $5,464 3.51%
    $50k-75k 40 $8,080,000 $202,000 $3,269 3.43%
    $50k or less 15 $2,025,000 $135,000 $2,190 3.05%

    Olympia Federal Savings & Loan Association lent most frequently to those with incomes in the $100k-150k range, with 133 originations. The second most popular income band? $150k-250k, with 112 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 132 $47,920,000 $363,030 $4,138 3.45%
    30-36% 85 $31,585,000 $371,588 $4,807 3.48%
    <20% 53 $13,715,000 $258,774 $2,847 3.38%
    40% 31 $11,165,000 $360,161 $5,802 3.64%
    37% 21 $7,285,000 $346,905 $5,633 3.42%
    39% 20 $8,090,000 $404,500 $5,757 3.61%
    38% 19 $8,015,000 $421,842 $6,473 3.48%
    36% 19 $8,655,000 $455,526 $6,301 3.50%
    41% 16 $4,290,000 $268,125 $4,936 3.78%
    42% 12 $4,560,000 $380,000 $6,149 3.56%
    44% 3 $1,205,000 $401,667 $5,382 4.29%
    45% 3 $915,000 $305,000 $8,740 3.42%
    43% 2 $790,000 $395,000 $5,214 3.38%
    50-60% 1 $465,000 $465,000 $8,356 3.38%

    Olympia Federal Savings & Loan Association lent most frequently to those with DTI ratios of 20-30%, with 132 originations. The next most common DTI ratio? 30-36%, with 85 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 308 $110,890,000 $360,032 $4,792 3.48%
    Not provided 88 $31,050,000 $352,841 $4,788 3.56%
    Not applicable 22 $17,330,000 $787,727 $3,345 3.84%
    American Indian 8 $3,110,000 $388,750 $4,269 3.44%
    Asian 7 $1,525,000 $217,857 $3,253 3.30%
    Japanese 1 $695,000 $695,000 $12,371 4.00%
    Black 1 $615,000 $615,000 $7,147 3.25%
    Guamanian 2 $490,000 $245,000 $1,665 3.19%
    Native Hawaiian or Islander 1 $185,000 $185,000 $1,423 3.13%
    Filipino 1 $95,000 $95,000 $998 3.00%

    Approval Rates

    Total approvals of all applications
    93.25%

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

    Pick Rate

    Approvals leading to origination
    66.97%

    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
    1500.0 1 $155,000 $155,000
    65.0 1 $45,000 $45,000
    723.5 1 $75,000 $75,000
    777.5 1 $85,000 $85,000
    960.0 1 $95,000 $95,000
    NA 434 $165,530,000 $381,406

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    439 $165,985,000 $378,098

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 44 $7,720,000 $175,455 $2,018 3.17%
    40-60% 93 $28,135,000 $302,527 $2,969 3.29%
    60-80% 200 $87,560,000 $437,800 $5,390 3.59%
    80-100% 84 $40,600,000 $483,333 $7,046 3.51%
    Under 20% 18 $1,970,000 $109,444 $861 4.60%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Olympia Federal Savings and Loan Association 24081 Ne State Route 3 Belfair, WA 98528 Full Service B&M $53,849
    Olympia Federal Savings and Loan Association 2420 Harrison Ave Ne Olympia, WA 98502 Full Service B&M $113,653
    Olympia Federal Savings and Loan Association 303 Cleveland Ave. Se Tumwater, WA 98501 Full Service B&M $74,683
    Olympia Federal Savings and Loan Association 421 Capitol Way S Olympia, WA 98501 Full Service B&M $178,887
    Olympia Federal Savings and Loan Association 4310 6th Ave Se Lacey, WA 98503 Full Service B&M $99,766
    Olympia Federal Savings and Loan Association 4860 Yelm Highway Southeast Lacey, WA 98503 Full Service B&M $80,638
    Olympia Federal Savings and Loan Association 8300 Quinault Dr Ne Olympia, WA 98516 Full Service B&M $54,018
    Olympia Federal Savings and Loan Association 907 Yelm Avenue W Yelm, WA 98597 Full Service B&M $17,618

    For 2021, Olympia Federal Savings & Loan Association had 8 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $26,882
    Net interest income $23,725
    Total noninterest income $1,779
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $30
    Trading account gains and fees $0
    Additional Noninterest Income $1,749
    Pre-tax net operating income $4,446
    Securities gains (or losses, -) $0
    Income before extraordinary items $3,629
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,629
    Minority interest net income $0
    Net income $3,629
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,629

    Olympia Federal Savings & Loan Association's gross interest income from loans was $26,882,000.
    Olympia Federal Savings & Loan Association's net interest income from loans was $23,725,000.
    Olympia Federal Savings & Loan Association's fee based income from loans was $30,000.
    Olympia Federal Savings & Loan Association's net income from loans was $3,629,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,157
    Provision for credit losses $200
    Total noninterest expense $20,858
    Salaries and employee benefits $13,449
    Premises and equipment expense $1,791
    Additional noninterest expense $5,618
    Applicable income taxes $817
    Net charge-offs $-145
    Cash dividends $0

    Olympia Federal Savings & Loan Association's interest expense for loans was $3,157,000.
    Olympia Federal Savings & Loan Association's payroll and benefits expense were $13,449,000.
    Olympia Federal Savings & Loan Association's property, plant and equipment expenses $1,791,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 2.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $696,475
    Deposits held in domestic offices $696,475
    Deposits by Individuals, partnerships, and corporations $691,742
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $4,731
    Deposits by Commercial banks and other depository institutions in U.S. $2
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $176,219
    Demand deposits $100,175
    Nontransaction accounts $520,256
    Money market deposit accounts (MMDAs) $196,164
    Other savings deposits (excluding MMDAs) $143,406
    Total time deposits $180,687
    Total time and savings deposits $596,300
    Noninterest-bearing deposits $58,513
    Interest-bearing deposits $637,962
    Retail deposits $675,769
    IRAs and Keogh plan accounts $34,184
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $853,367
    Cash & Balances due from depository institutions $92,858
    Interest-bearing balances $89,450
    Total securities $77,044
    Federal funds sold & reverse repurchase $0
    Net loans and leases $634,513
    Loan and leases loss allowance $2,430
    Trading account assets $0
    Bank premises and fixed assets $16,023
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $32,929

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $853,367
    Total Liabilities $743,970
    Total deposits $696,475
    Interest-bearing deposits $637,962
    Deposits held in domestic offices $696,475
    % insured (estimated) $88
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $43,194
    Subordinated debt $0
    All other liabilities $4,301

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $634,513
    Loan and leases loss allowance $2,430
    Total loans and leases (domestic) $636,943
    All real estate loans $629,246
    Real estate loans in domestic offices $629,246
    Construction and development loans $49,824
    Residential 1-4 family construction $28,805
    Other construction, all land development and other land $21,019
    Loans secured by nonfarm nonresidential properties $45,366
    Nonfarm nonresidential secured by owner-occupied properties $8,494
    Commercial real estate & other non-farm, non-residential $36,872
    Multifamily residential real estate $47,101
    1-4 family residential loans $486,955
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $2,597
    To non-U.S. addressees $0
    Loans to individuals $3,941
    Credit card loans $0
    Related Plans $1,131
    Consumer Auto Loans $488
    Other loans to individuals $2,322
    All other loans & leases $1,159
    Loans to foreign governments and official institutions $0
    Other loans $1,159
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $145
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Olympia Federal Savings & Loan Association had $634,513,000 of loans outstanding in 2021. $629,246,000 of loans were in real estate loans. $49,824,000 of loans were in development loans. $47,101,000 of loans were in multifamily mortgage loans. $486,955,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $488,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 43 $13,574 $315,674
    Nonfarm, nonresidential loans - <$100k 3 $48 $16,000
    Nonfarm, nonresidential loans - $100-250k 13 $1,606 $123,538
    Nonfarm, nonresidential loans - $250k-1MM 27 $11,920 $441,481
    Commercial & Industrial, US addressed loans - <$1MM 40 $2,597 $64,925
    Commercial & Industrial, US addressed loans - <$100k 30 $785 $26,167
    Commercial & Industrial, US addressed loans - $100-250k 5 $344 $68,800
    Commercial & Industrial, US addressed loans - $250k-1MM 5 $1,468 $293,600