Northwest Plus Credit Union Mortgage Rates, Fees & Info
Everett, WALEI: 254900IHSG9OOX0DZH92
Tax ID: 91-0684272
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Mortgage Data
Review & Overview
Northwest Plus Credit Union is a smaller credit union specializing in Cash Out Refi loans. Northwest Plus Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Seattle, Mount Vernon, Oak Harbor, Bellingham, and Moses Lake among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)Northwest Plus Credit Union has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Northwest Plus Credit Union 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.33% | 12/16/24 |
| 30 Year Conventional Refi | 6.22% | 12/16/24 |
| 30 Year Cash-out Refi | 6.33% | 12/16/24 |
| 15 Year Conventional Purchase | 6.54% | 12/16/24 |
| 15 Year Conventional Refi | 6.06% | 12/16/24 |
| 15 Year Cash-out Refi | 6.06% | 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. | ||
Northwest Plus Credit Union Mortgage Calculator
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This is not an official calculator from Northwest Plus Credit Union. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
177Origination Dollar Volume (All Markets)
$44,215,000Top 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 |
|---|---|---|---|---|---|
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 98 | $23,440,000 | $239,184 | $4,842 | 3.02% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 51 | $14,585,000 | $285,980 | $5,884 | 3.00% |
| Oak Harbor, WA (FHA|USDA|VA) | 15 | $3,645,000 | $243,000 | $4,311 | 3.13% |
| BELLINGHAM, WA (FHA|USDA|VA) | 5 | $1,185,000 | $237,000 | $5,390 | 3.40% |
| Outside of Metro Areas | 3 | $615,000 | $205,000 | $3,651 | 3.29% |
| Moses Lake, WA (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $2,328 | 2.81% |
| Pullman, WA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,170 | 3.00% |
| Port Angeles, WA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,332 | 3.13% |
| WENATCHEE, WA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,476 | 2.50% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against NorthWest Plus Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 177 | $44,215,000 | $249,802 | $5,038 | 3.04% |
For 2021, Northwest Plus Credit Union's most frequently originated type of loan was Conventional, with 177 originations.
Loan Reason
For 2021, Northwest Plus Credit Union's most frequently cited loan purpose was Cash Out Refi, with 95 originations. The 2nd most popular reason was Refi, with 43 originations.
Loan Duration/Length
For 2021, Northwest Plus Credit Union's most frequently cited loan duration was 30 Year, with 114 originations. The 2nd most popular length was 15 Year, with 41 originations.
Origination Fees/Closing Costs
Northwest Plus Credit Union's average total fees were $5,858, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 47 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 75 | $20,545,000 | $273,933 |
| 3-4% | 63 | $15,265,000 | $242,302 |
| <2.5% | 33 | $7,995,000 | $242,273 |
| 5-6% | 6 | $410,000 | $68,333 |
During 2021, Northwest Plus Credit Union's average interest rate for loans was 3.03%, while their most frequently originated rate bucket for loans was 2.5-3%, with 75 originations.
Loan Sizing
2021 saw Northwest Plus Credit Union place emphasis on $200k-400k loans with 75 originations, totaling $20,955,000 in origination value.
Applicant Income
Northwest Plus Credit Union lent most frequently to those with incomes in the $100k-150k range, with 55 originations. The second most popular income band? $50k-75k, with 45 originations.
Applicant Debt to Income Ratio
Northwest Plus Credit Union lent most frequently to those with DTI ratios of 20-30%, with 39 originations. The next most common DTI ratio? <20%, with 37 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.66%
Northwest Plus Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination94.35%
Northwest Plus Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 177 | $44,215,000 | $249,802 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| NORTHWEST BANCSHARES INC | Conventional home mortgage | Struggling to pay mortgage | 1 | 11.1% |
| NORTHWEST BANCSHARES INC | Conventional home mortgage | Trouble during payment process | 5 | 55.6% |
| NORTHWEST BANCSHARES INC | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 11.1% |
| NORTHWEST BANCSHARES INC | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 11.1% |
| NORTHWEST BANCSHARES INC | Other type of mortgage | Struggling to pay mortgage | 1 | 11.1% |