Timberland Bank Mortgage Rates, Fees & Info

Hoquiam, WA

LEI: 254900MKY47WU65N1J56

Tax ID: 91-0260220

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

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

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Mortgage Data

  • SimulatedRates™
  • 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

    Timberland Bank is a smaller bank specializing in loans. Timberland Bank has a high proportion of conventional loans. Their top markets by origination volume include: Seattle, Olympia, Bremerton, Aberdeen, and Centralia among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Timberland Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Timberland Bank 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.

    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 6.27% 3/27/23
    30 Year Conventional Refi 6.26% 3/27/23
    30 Year Cash-out Refi 6.49% 3/27/23
    30 Year FHA Purchase 6.27% 3/27/23
    15 Year Conventional Purchase 6.25% 3/27/23
    15 Year Conventional Refi 6.25% 3/27/23
    15 Year Cash-out Refi 6.25% 3/27/23
    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.


    Originations

    419

    Origination Dollar Volume (All Markets)

    $245,635,000

    Relative Rate

    Timberland Bank's average 30 year fixed mortgage rate was 4.7%.

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

    This yields a difference of -0.06%.

    Relative Fees (Closing Costs)

    Timberland Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $6,485.

    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
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 148 $115,080,000 $777,568 $8,714 5.07%
    OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 62 $43,390,000 $699,839 $9,281 4.76%
    BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 55 $34,855,000 $633,727 $9,858 5.07%
    Aberdeen, WA (FHA|USDA|VA) 72 $17,750,000 $246,528 $5,876 5.18%
    Centralia, WA (FHA|USDA|VA) 31 $10,145,000 $327,258 $7,379 5.58%
    Outside of Metro Areas 12 $5,780,000 $481,667 $10,206 5.64%
    Shelton, WA (FHA|USDA|VA) 14 $5,630,000 $402,143 $9,856 5.04%
    LONGVIEW, WA (FHA|USDA|VA) 5 $5,145,000 $1,029,000 $9,381 6.20%
    Port Angeles, WA (FHA|USDA|VA) 6 $2,380,000 $396,667 $8,916 5.46%
    Ellensburg, WA (FHA|USDA|VA) 6 $2,300,000 $383,333 $9,249 5.02%
    SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 4 $1,270,000 $317,500 $7,139 4.53%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 2 $1,010,000 $505,000 $9,924 5.94%
    WENATCHEE, WA (FHA|USDA|VA) 2 $900,000 $450,000 $8,100 3.56%
    Timberland Bank's top markets include Seattle, Olympia, Bremerton, Aberdeen, 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 Timberland Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    PENINSULA COMMUNITY
    Similarity Rank: 616
    ALL WESTERN MORTGAGE, INC.
    Similarity Rank: 648
    FIBRE FEDERAL CREDIT UNION
    Similarity Rank: 975
    Olympia Federal Savings & Loan Association
    Similarity Rank: 1375
    Chicago Financial Services, Inc.
    Similarity Rank: 2139
    IVY MORTGAGE, INC.
    Similarity Rank: 2166
    Bank of the Pacific
    Similarity Rank: 2300
    NorthWest Plus Credit Union
    Similarity Rank: 2303
    VERITY
    Similarity Rank: 2400
    U S WIDE FINANCIAL LLC
    Similarity Rank: 2496

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 419 $245,635,000 $586,241 $8,448 5.11%

    For 2022, Timberland Bank's most frequently originated type of loan was Conventional, with 419 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 239 $179,815,000 $752,364 $11,317 5.44%
    Refi 103 $47,425,000 $460,437 $5,732 4.57%
    Cash Out Refi 38 $9,870,000 $259,737 $4,800 4.13%
    Home Improvement 26 $6,090,000 $234,231 $3,100 5.84%
    Other 13 $2,435,000 $187,308 $3,757 4.72%

    For 2022, Timberland Bank's most frequently cited loan purpose was Home Purchase, with 239 originations. The 2nd most popular reason was Refi, with 103 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 160 $65,000,000 $406,250 $6,485 4.70%
    30+ year 121 $60,945,000 $503,678 $12,523 5.85%
    10 Year 59 $66,205,000 $1,122,119 $4,305 4.86%
    15 Year 55 $10,055,000 $182,818 $3,012 4.84%
    Other 15 $41,765,000 $2,784,333 $19,642 4.93%
    20 Year 8 $1,630,000 $203,750 $4,535 5.75%
    5 Year 1 $35,000 $35,000 $1,209 6.50%

    For 2022, Timberland Bank's most frequently cited loan duration was 30 Year, with 160 originations. The 2nd most popular length was 30+ year, with 121 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 173 $102,525,000 $592,630
    $<1k 61 $12,345,000 $202,377
    $1k-2k 34 $7,850,000 $230,882
    $2k-3k 22 $6,100,000 $277,273
    $3k-4k 18 $5,550,000 $308,333
    $4k-5k 17 $7,285,000 $428,529

    Timberland Bank's average total fees were $6,485, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 173 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 201 $93,095,000 $463,159
    4-5% 97 $97,185,000 $1,001,907
    3-4% 70 $27,310,000 $390,143
    6-7% 37 $13,175,000 $356,081
    2.5-3% 7 $2,155,000 $307,857
    <2.5% 3 $2,065,000 $688,333
    Over 8% 3 $395,000 $131,667

    During 2022, Timberland Bank's average interest rate for loans was 4.70%, while their most frequently originated rate bucket for loans was 5-6%, with 201 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 143 $43,515,000 $304,301 $6,408 4.86%
    $400k-600k 101 $50,165,000 $496,683 $9,968 5.41%
    $600k-1MM 57 $41,995,000 $736,754 $13,750 5.27%
    $100k-200k 44 $6,780,000 $154,091 $3,720 5.23%
    $100,000 or less 40 $2,250,000 $56,250 $2,015 5.20%
    $1MM+ 34 $100,930,000 $2,968,529 $18,870 4.70%

    2022 saw Timberland Bank place emphasis on $200k-400k loans with 143 originations, totaling $43,515,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 94 $36,500,000 $388,298 $8,062 5.23%
    $150k-250k 91 $43,045,000 $473,022 $10,187 5.34%
    $250k+ 73 $48,945,000 $670,479 $13,378 4.91%
    $75k-100k 53 $14,895,000 $281,038 $5,971 4.84%
    $50k-75k 39 $7,125,000 $182,692 $4,294 5.16%
    $50k or less 23 $2,645,000 $115,000 $3,302 5.23%

    Timberland Bank lent most frequently to those with incomes in the $100k-150k range, with 94 originations. The second most popular income band? $150k-250k, with 91 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 73 $31,275,000 $428,425 $7,506 4.85%
    30-36% 53 $20,255,000 $382,170 $7,279 4.92%
    44% 33 $13,055,000 $395,606 $9,248 5.45%
    41% 26 $12,260,000 $471,538 $9,704 5.27%
    43% 26 $10,490,000 $403,462 $8,583 5.25%
    40% 23 $10,785,000 $468,913 $10,055 5.17%
    <20% 21 $9,685,000 $461,190 $8,044 4.95%
    38% 20 $7,490,000 $374,500 $8,640 5.63%
    42% 19 $9,105,000 $479,211 $8,958 5.51%
    39% 16 $7,670,000 $479,375 $12,536 5.85%
    37% 12 $5,110,000 $425,833 $8,298 5.11%
    36% 10 $3,730,000 $373,000 $8,640 5.07%
    46% 6 $1,860,000 $310,000 $4,680 4.83%
    45% 5 $2,765,000 $553,000 $11,395 5.35%
    47% 3 $585,000 $195,000 $7,148 4.08%
    48% 3 $745,000 $248,333 $6,508 4.38%
    49% 3 $905,000 $301,667 $5,349 4.83%
    50-60% 1 $735,000 $735,000 $10,636 4.25%
    >60% 1 $245,000 $245,000 $5,076 4.75%

    Timberland Bank lent most frequently to those with DTI ratios of 20-30%, with 73 originations. The next most common DTI ratio? 30-36%, with 53 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 299 $121,785,000 $407,308 $8,327 5.14%
    Not applicable 39 $87,215,000 $2,236,282 $0 4.97%
    Not provided 63 $27,815,000 $441,508 $8,495 4.90%
    Asian 5 $4,205,000 $841,000 $14,963 5.25%
    American Indian 6 $1,820,000 $303,333 $8,955 5.90%
    Black 3 $1,385,000 $461,667 $5,143 5.67%
    Vietnamese 1 $475,000 $475,000 $10,062 5.88%
    Native Hawaiian 1 $425,000 $425,000 $11,619 5.88%
    Other Pacific Islander 1 $285,000 $285,000 $5,295 5.75%
    Other Asian 1 $225,000 $225,000 $4,917 5.25%

    Approval Rates

    Total approvals of all applications
    86.84%

    Timberland Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    76.85%

    Timberland Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    1699.0 1 $125,000 $125,000
    1792.13 1 $115,000 $115,000
    2699.0 1 $155,000 $155,000
    NA 416 $245,240,000 $589,519

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    419 $245,635,000 $586,241

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 57 $19,375,000 $339,912 $5,354 4.78%
    40-60% 113 $71,835,000 $635,708 $7,578 4.95%
    60-80% 179 $129,285,000 $722,263 $11,077 5.24%
    80-100% 31 $20,185,000 $651,129 $11,736 5.16%
    Under 20% 39 $4,955,000 $127,051 $2,712 5.39%