Savibank Mortgage Rates, Fees & Info
Burlington, WALEI: 254900XK1QLA60R87H84
Tax ID: 20-2414781
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Mortgage Data
Review & Overview
Savibank is a smaller bank specializing in Home Purchase loans. Savibank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Bellingham, Oak Harbor, Mount Vernon, Olympia, and Seattle among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)Savibank 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.
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Originations
131Origination Dollar Volume (All Markets)
$55,765,000Top 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 |
|---|---|---|---|---|---|
| BELLINGHAM, WA (FHA|USDA|VA) | 39 | $16,595,000 | $425,513 | $0 | 0.00% |
| Oak Harbor, WA (FHA|USDA|VA) | 31 | $11,525,000 | $371,774 | $0 | 0.00% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 26 | $11,460,000 | $440,769 | $0 | 0.00% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 9 | $4,805,000 | $533,889 | $0 | 0.00% |
| Outside of Metro Areas | 8 | $3,950,000 | $493,750 | $0 | 0.00% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 6 | $2,370,000 | $395,000 | $0 | 0.00% |
| Centralia, WA (FHA|USDA|VA) | 5 | $1,985,000 | $397,000 | $0 | 0.00% |
| FAIRBANKS, AK (FHA|USDA|VA) | 2 | $1,800,000 | $900,000 | $0 | 0.00% |
| Ellensburg, WA (FHA|USDA|VA) | 1 | $635,000 | $635,000 | $0 | 0.00% |
| WENATCHEE, WA (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $0 | 0.00% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| Aberdeen, WA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 108 | $45,490,000 | $421,204 | $0 | 0.00% |
| VA | 22 | $9,710,000 | $441,364 | $0 | 0.00% |
| FHA | 1 | $565,000 | $565,000 | $0 | 0.00% |
For 2023, Savibank's most frequently originated type of loan was Conventional, with 108 originations. Their 2nd most popular type was VA, with 22 originations.
Loan Reason
For 2023, Savibank's most frequently cited loan purpose was Home Purchase, with 96 originations. The 2nd most popular reason was Refi, with 14 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 131 | $55,765,000 | $425,687 | $0 | 0.00% |
For 2023, Savibank's most frequently cited loan duration was Other, with 131 originations.
Loan Sizing
2023 saw Savibank place emphasis on $400k-600k loans with 45 originations, totaling $21,065,000 in origination value.
Applicant Income
Savibank lent most frequently to those with incomes in the $100k-150k range, with 35 originations. The second most popular income band? $150k-250k, with 31 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 131 | $55,765,000 | $425,687 | $0 | 0.00% |
Savibank lent most frequently to those with DTI ratios of Exempt%, with 131 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.53%
Savibank has an average approval rate.
Pick Rate
Approvals leading to origination59.54%
Savibank 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 |
|---|---|---|---|
| Exempt | 131 | $55,765,000 | $425,687 |