Qualstar Credit Union Mortgage Rates, Fees & Info
Redmond, WALEI: 254900QPRPHIXEAX3L37
Tax ID: 91-6035907
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Mortgage Data
Review & Overview
Qualstar Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Qualstar Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Seattle, Olympia, Bremerton, Aberdeen, and Bellingham among others. We have data for 23 markets. (Some data included below & more in-depth data is available with an active subscription.)Qualstar Credit Union 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. Qualstar Credit Union 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 9.98% | 3/23/23 |
| 30 Year Conventional Refi | 9.78% | 3/23/23 |
| 30 Year Cash-out Refi | 9.70% | 3/23/23 |
| 30 Year FHA Purchase | 6.27% | 3/23/23 |
| 30 Year VA Purchase | 6.27% | 3/23/23 |
| 15 Year Conventional Purchase | 10.64% | 3/23/23 |
| 15 Year Conventional Refi | 8.39% | 3/23/23 |
| 15 Year Cash-out Refi | 8.39% | 3/23/23 |
| 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
207Origination Dollar Volume (All Markets)
$45,875,000Awards
Qualstar Credit Union - 2022
Qualstar Credit Union is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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Relative Rate
Qualstar Credit Union's average 30 year fixed mortgage rate was
4.34%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.42%.
Relative Fees (Closing Costs)
Qualstar Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,232.
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) | 150 | $33,510,000 | $223,400 | $3,816 | 4.75% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 6 | $1,980,000 | $330,000 | $4,996 | 4.54% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 6 | $1,470,000 | $245,000 | $6,040 | 5.37% |
| Aberdeen, WA (FHA|USDA|VA) | 5 | $1,045,000 | $209,000 | $3,571 | 5.52% |
| BELLINGHAM, WA (FHA|USDA|VA) | 3 | $1,025,000 | $341,667 | $4,099 | 4.33% |
| Outside of Metro Areas | 4 | $980,000 | $245,000 | $3,361 | 3.34% |
| Oak Harbor, WA (FHA|USDA|VA) | 3 | $735,000 | $245,000 | $3,330 | 5.75% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 3 | $575,000 | $191,667 | $3,207 | 3.25% |
| Moses Lake, WA (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $6,745 | 3.75% |
| SALEM, OR (FHA|USDA|VA) | 3 | $545,000 | $181,667 | $3,573 | 4.71% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $2,919 | 5.06% |
| YAKIMA, WA (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $4,516 | 3.25% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 4 | $430,000 | $107,500 | $4,318 | 5.71% |
| Sandpoint, ID (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $9,084 | 6.88% |
| Centralia, WA (FHA|USDA|VA) | 3 | $305,000 | $101,667 | $3,422 | 5.25% |
| EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $4,510 | 3.88% |
| Port Angeles, WA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $6,124 | 5.25% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 5.99% |
| CORVALLIS, OR (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,073 | 4.63% |
| LONGVIEW, WA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $4,989 | 7.63% |
| Outside of Metro Areas | 1 | $125,000 | $125,000 | $3,852 | 3.13% |
| WENATCHEE, WA (FHA|USDA|VA) | 2 | $120,000 | $60,000 | $2,705 | 5.87% |
| Ellensburg, WA (FHA|USDA|VA) | 2 | $70,000 | $35,000 | $0 | 4.87% |
Similar Lenders
We use machine learning to identify the top lenders compared against Qualstar 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 | 207 | $45,875,000 | $221,618 | $3,944 | 4.78% |
For 2022, Qualstar Credit Union's most frequently originated type of loan was Conventional, with 207 originations.
Loan Reason
For 2022, Qualstar Credit Union's most frequently cited loan purpose was Cash Out Refi, with 69 originations. The 2nd most popular reason was Home Improvement, with 59 originations.
Loan Duration/Length
For 2022, Qualstar Credit Union's most frequently cited loan duration was 30 Year, with 88 originations. The 2nd most popular length was 15 Year, with 33 originations.
Origination Fees/Closing Costs
Qualstar Credit Union's average total fees were $4,232, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 66 originations.
Interest Rates
During 2022, Qualstar Credit Union's average interest rate for loans was 4.34%, while their most frequently originated rate bucket for loans was 3-4%, with 59 originations.
Loan Sizing
2022 saw Qualstar Credit Union place emphasis on $200k-400k loans with 71 originations, totaling $19,995,000 in origination value.
Applicant Income
Qualstar Credit Union lent most frequently to those with incomes in the $100k-150k range, with 58 originations. The second most popular income band? $150k-250k, with 37 originations.
Applicant Debt to Income Ratio
Qualstar Credit Union lent most frequently to those with DTI ratios of 20-30%, with 48 originations. The next most common DTI ratio? 30-36%, with 32 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.25%
Qualstar Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination77.78%
Qualstar Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 207 | $45,875,000 | $221,618 |