Savibank Mortgage Rates, Fees & Info

Burlington, WA

LEI: 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. Their top markets by origination volume include: Mount Vernon, Bellingham, Seattle, Oak Harbor, and Newport among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

Savibank 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.

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Originations

51

Origination Dollar Volume (All Markets)

$15,915,000

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
MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 21 $5,655,000 $269,286 $0 0.00%
BELLINGHAM, WA (FHA|USDA|VA) 19 $3,955,000 $208,158 $0 0.00%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 4 $3,480,000 $870,000 $0 0.00%
Oak Harbor, WA (FHA|USDA|VA) 5 $1,595,000 $319,000 $0 0.00%
Newport, OR (FHA|USDA|VA) 1 $905,000 $905,000 $0 0.00%
YAKIMA, WA (FHA|USDA|VA) 1 $325,000 $325,000 $0 0.00%
Savibank's top markets include Mount Vernon, Bellingham, Seattle, Oak Harbor, and Newport among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 51 $15,915,000 $312,059 $0 0.00%

    For 2019, Savibank's most frequently originated type of loan was Conventional, with 51 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 22 $8,720,000 $396,364 $0 0.00%
    Other 10 $3,060,000 $306,000 $0 0.00%
    Refi 9 $1,745,000 $193,889 $0 0.00%
    Cash Out Refi 6 $2,110,000 $351,667 $0 0.00%
    Home Improvement 4 $280,000 $70,000 $0 0.00%

    For 2019, Savibank's most frequently cited loan purpose was Home Purchase, with 22 originations. The 2nd most popular reason was Other, with 10 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 51 $15,915,000 $312,059 $0 0.00%

    For 2019, Savibank's most frequently cited loan duration was Other, with 51 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 17 $1,015,000 $59,706 $0 0.00%
    $200k-400k 10 $2,820,000 $282,000 $0 0.00%
    $100k-200k 9 $1,235,000 $137,222 $0 0.00%
    $400k-600k 8 $3,740,000 $467,500 $0 0.00%
    $600k-1MM 5 $3,635,000 $727,000 $0 0.00%
    $1MM+ 2 $3,470,000 $1,735,000 $0 0.00%

    2019 saw Savibank place emphasis on $100,000 or less loans with 17 originations, totaling $1,015,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 13 $2,915,000 $224,231 $0 0.00%
    $150k-250k 13 $3,165,000 $243,462 $0 0.00%
    $50k-75k 10 $1,650,000 $165,000 $0 0.00%
    $75k-100k 5 $1,125,000 $225,000 $0 0.00%
    $250k+ 2 $1,230,000 $615,000 $0 0.00%
    $50k or less 1 $25,000 $25,000 $0 0.00%

    Savibank lent most frequently to those with incomes in the $100k-150k range, with 13 originations. The second most popular income band? $150k-250k, with 13 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 51 $15,915,000 $312,059 $0 0.00%

    Savibank lent most frequently to those with DTI ratios of Exempt%, with 51 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 34 $7,750,000 $227,941 $0 0.00%
    Not applicable 7 $5,805,000 $829,286 $0 0.00%
    Not provided 5 $1,795,000 $359,000 $0 0.00%
    Native Hawaiian or Islander 1 $325,000 $325,000 $0 0.00%
    Asian 2 $160,000 $80,000 $0 0.00%
    American Indian 1 $55,000 $55,000 $0 0.00%
    Black 1 $25,000 $25,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    88.41%

    Savibank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.39%

    Savibank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 51 $15,915,000 $312,059

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $905,000 $905,000
    Multifamily:Site-Built 4 $4,130,000 $1,032,500
    Single Family (1-4 Units):Manufactured 4 $630,000 $157,500
    Single Family (1-4 Units):Site-Built 42 $10,250,000 $244,048