Qualstar Credit Union Mortgage Rates, Fees & Info

Redmond, WA

LEI: 254900QPRPHIXEAX3L37

Tax ID: 91-6035907

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

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Mortgage Data

Review & Overview

Qualstar Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. Qualstar Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Seattle, Olympia, Shelton, Mount Vernon, and Portland among others. We have data for 24 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 an above 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.

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 9.98% 3/27/24
30 Year Conventional Refi 9.78% 3/27/24
30 Year Cash-out Refi 9.70% 3/27/24
30 Year FHA Purchase 6.27% 3/27/24
30 Year VA Purchase 6.27% 3/27/24
15 Year Conventional Purchase 10.64% 3/27/24
15 Year Conventional Refi 8.39% 3/27/24
15 Year Cash-out Refi 8.39% 3/27/24
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.

Qualstar Credit Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Qualstar Credit Union. 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

501

Origination Dollar Volume (All Markets)

$126,185,000

Awards

Qualstar Credit Union 30 Year Conventional Loans bronze
Show all (1) 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
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 382 $97,150,000 $254,319 $3,502 3.74%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 27 $7,915,000 $293,148 $3,502 3.89%
Shelton, WA (FHA|USDA|VA) 9 $2,875,000 $319,444 $3,418 3.68%
MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 12 $2,690,000 $224,167 $3,402 3.65%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 7 $1,935,000 $276,429 $4,684 3.71%
BELLINGHAM, WA (FHA|USDA|VA) 6 $1,610,000 $268,333 $4,981 3.67%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 9 $1,575,000 $175,000 $2,700 4.15%
Centralia, WA (FHA|USDA|VA) 7 $1,395,000 $199,286 $3,731 4.04%
Outside of Metro Areas 5 $1,265,000 $253,000 $3,392 3.93%
LONGVIEW, WA (FHA|USDA|VA) 4 $1,110,000 $277,500 $3,485 3.38%
Ellensburg, WA (FHA|USDA|VA) 3 $915,000 $305,000 $3,518 4.00%
Oak Harbor, WA (FHA|USDA|VA) 5 $895,000 $179,000 $3,798 4.08%
Moses Lake, WA (FHA|USDA|VA) 5 $775,000 $155,000 $3,846 3.63%
SALEM, OR (FHA|USDA|VA) 3 $765,000 $255,000 $3,440 4.13%
YAKIMA, WA (FHA|USDA|VA) 4 $730,000 $182,500 $3,275 4.06%
GRANTS PASS, OR (FHA|USDA|VA) 1 $485,000 $485,000 $5,300 3.13%
Aberdeen, WA (FHA|USDA|VA) 2 $420,000 $210,000 $3,569 4.19%
WENATCHEE, WA (FHA|USDA|VA) 2 $390,000 $195,000 $3,910 4.13%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 2 $330,000 $165,000 $2,088 3.19%
Port Angeles, WA (FHA|USDA|VA) 2 $300,000 $150,000 $3,317 3.19%
Astoria, OR (FHA|USDA|VA) 1 $225,000 $225,000 $3,744 3.00%
MEDFORD, OR (FHA|USDA|VA) 1 $195,000 $195,000 $2,617 3.38%
Outside of Metro Areas 1 $125,000 $125,000 $0 3.75%
BOISE CITY, ID (FHA|USDA|VA) 1 $115,000 $115,000 $2,803 3.25%
Qualstar Credit Union's top markets include Seattle, Olympia, Shelton, Mount Vernon, and Portland among others.

Their top states include:
  • Washington (FHA|USDA|VA)
  • Oregon (FHA|USDA|VA)
  • Idaho (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 493 $125,495,000 $254,554 $3,518 3.72%
    HELOC 8 $690,000 $86,250 n/a 5.78%

    For 2020, Qualstar Credit Union's most frequently originated type of loan was Conventional, with 493 originations. Their 2nd most popular type was HELOC, with 8 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 232 $62,500,000 $269,397 $3,536 3.53%
    Refi 188 $46,090,000 $245,160 $3,257 3.77%
    Home Purchase 55 $16,095,000 $292,636 $4,113 3.81%
    Home Improvement 26 $1,500,000 $57,692 $0 5.55%

    For 2020, Qualstar Credit Union's most frequently cited loan purpose was Cash Out Refi, with 232 originations. The 2nd most popular reason was Refi, with 188 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 281 $89,395,000 $318,132 $3,573 3.51%
    15 Year 78 $16,350,000 $209,615 $3,429 3.43%
    20 Year 58 $13,420,000 $231,379 $3,449 3.45%
    Other 36 $3,040,000 $84,444 $0 5.26%
    10 Year 34 $3,420,000 $100,588 $2,904 4.86%
    5 Year 12 $530,000 $44,167 $0 5.30%
    3 Year 2 $30,000 $15,000 $0 5.25%

    For 2020, Qualstar Credit Union's most frequently cited loan duration was 30 Year, with 281 originations. The 2nd most popular length was 15 Year, with 78 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 208 $60,000,000 $288,462
    $1k-2k 94 $23,690,000 $252,021
    $2k-3k 61 $16,955,000 $277,951
    $3k-4k 24 $8,140,000 $339,167
    $4k-5k 13 $5,885,000 $452,692
    $5k+ 9 $4,015,000 $446,111

    Qualstar Credit Union's average total fees were $3,573, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 208 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 278 $80,260,000 $288,705
    2.5-3% 104 $28,320,000 $272,308
    4-5% 59 $11,865,000 $201,102
    5-6% 25 $1,675,000 $67,000
    6-7% 16 $950,000 $59,375
    <2.5% 9 $2,435,000 $270,556
    7-8% 6 $420,000 $70,000
    Over 8% 4 $260,000 $65,000

    During 2020, Qualstar Credit Union's average interest rate for loans was 3.51%, while their most frequently originated rate bucket for loans was 3-4%, with 278 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 231 $65,915,000 $285,346 $3,531 3.48%
    $100k-200k 128 $19,890,000 $155,391 $2,961 3.50%
    $100,000 or less 75 $4,035,000 $53,800 $2,570 5.43%
    $400k-600k 52 $25,020,000 $481,154 $4,312 3.31%
    $600k-1MM 13 $8,765,000 $674,231 $5,492 3.36%
    $1MM+ 2 $2,560,000 $1,280,000 $2,820 3.44%

    2020 saw Qualstar Credit Union place emphasis on $200k-400k loans with 231 originations, totaling $65,915,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 36 $7,100,000 $197,222 $4,086 4.59%
    $75k-100k 30 $3,860,000 $128,667 $3,990 4.73%
    $50k-75k 25 $3,205,000 $128,200 $4,197 4.92%
    $150k-250k 19 $5,155,000 $271,316 $4,420 4.33%
    $50k or less 13 $1,225,000 $94,231 $3,903 4.79%
    $250k+ 4 $1,240,000 $310,000 $3,551 3.88%

    Qualstar Credit Union lent most frequently to those with incomes in the $100k-150k range, with 36 originations. The second most popular income band? $75k-100k, with 30 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 27 $2,515,000 $93,148 $0 4.60%
    20-30% 16 $1,000,000 $62,500 $0 6.02%
    30-36% 9 $875,000 $97,222 $0 5.00%
    37% 4 $180,000 $45,000 $0 7.12%
    47% 2 $40,000 $20,000 $0 5.99%
    50-60% 1 $55,000 $55,000 $0 5.49%
    38% 1 $55,000 $55,000 $0 6.49%
    41% 1 $95,000 $95,000 $0 4.00%
    44% 1 $45,000 $45,000 $0 5.49%

    Qualstar Credit Union lent most frequently to those with DTI ratios of <20%, with 27 originations. The next most common DTI ratio? 20-30%, with 16 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 378 $93,820,000 $248,201 $3,506 3.72%
    Not provided 68 $18,300,000 $269,118 $3,517 3.56%
    Black 27 $6,395,000 $236,852 $3,511 4.18%
    Asian 16 $4,760,000 $297,500 $3,272 4.29%
    American Indian 4 $970,000 $242,500 $4,267 4.65%
    Native Hawaiian or Islander 2 $530,000 $265,000 $3,728 3.88%
    Chinese 1 $425,000 $425,000 $4,647 2.38%
    Other Asian 1 $395,000 $395,000 $5,934 3.75%
    Vietnamese 1 $285,000 $285,000 $4,639 3.50%
    Filipino 2 $250,000 $125,000 $2,164 4.68%
    Not applicable 1 $55,000 $55,000 $0 7.49%

    Approval Rates

    Total approvals of all applications
    94.97%

    Qualstar Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    91.82%

    Qualstar Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 501 $126,185,000 $251,866

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 48 $5,880,000 $122,500
    Single Family (1-4 Units):Site-Built 453 $120,305,000 $265,574

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 18 $1,690,000 $93,889 $0 4.98%
    40-60% 6 $1,030,000 $171,667 $0 4.08%
    60-80% 6 $810,000 $135,000 $0 4.21%
    Under 20% 30 $1,240,000 $41,333 $0 5.75%