Salal Mortgage Rates, Fees & Info
Seattle, WALEI: 5493000BAKE4VAHVCU55
Tax ID: 91-0593941
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Mortgage Data
Review & Overview
Salal is a smaller mortgage company specializing in Home Improvement and Home Purchase loans. Salal has a high proportion of conventional loans. Their top markets by origination volume include: Seattle, San Francisco, Portland, Reno, and Santa Cruz among others. We have data for 28 markets. (Some data included below & more in-depth data is available with an active subscription.)Salal has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Salal 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 7.55% | 4/5/25 |
| 30 Year Conventional Purchase | 6.84% | 4/5/25 |
| 30 Year Conventional Refi | 6.55% | 4/5/25 |
| 30 Year Cash-out Refi | 6.61% | 4/5/25 |
| 15 Year Conventional Purchase | 6.00% | 4/5/25 |
| 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. | ||
Salal Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
132Origination Dollar Volume (All Markets)
$24,600,000Relative Rate
Salal's average 30 year fixed mortgage rate was
6.52%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of -0.03%.
Relative Fees (Closing Costs)
Salal's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,954.
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 $8,356.
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) | 85 | $13,705,000 | $161,235 | $6,226 | 8.62% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 2 | $1,660,000 | $830,000 | $10,784 | 7.68% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 6 | $1,530,000 | $255,000 | $4,862 | 7.66% |
| RENO, NV (FHA|USDA|VA) | 1 | $1,235,000 | $1,235,000 | $7,737 | 6.38% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 1 | $1,075,000 | $1,075,000 | $7,306 | 6.38% |
| Newport, OR (FHA|USDA|VA) | 1 | $685,000 | $685,000 | $10,518 | 5.88% |
| BELLINGHAM, WA (FHA|USDA|VA) | 3 | $605,000 | $201,667 | $5,670 | 8.83% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $12,641 | 7.93% |
| MEDFORD, OR (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $6,522 | 7.93% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 3 | $375,000 | $125,000 | $4,280 | 8.16% |
| CORVALLIS, OR (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $6,985 | 6.63% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 3 | $355,000 | $118,333 | $0 | 9.24% |
| Centralia, WA (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $7,797 | 7.87% |
| YAKIMA, WA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $9,450 | 5.88% |
| Ellensburg, WA (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $0 | 8.74% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 8.49% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 3 | $195,000 | $65,000 | $0 | 9.41% |
| FRESNO, CA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 8.49% |
| Oak Harbor, WA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 8.74% |
| GRANTS PASS, OR (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 9.24% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 9.24% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 9.24% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 2 | $100,000 | $50,000 | $0 | 9.24% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 2 | $90,000 | $45,000 | $0 | 9.12% |
| Pullman, WA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 9.24% |
| Aberdeen, WA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 8.99% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 8.99% |
| CHICO, CA (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 9.24% |
Similar Lenders
We use machine learning to identify the top lenders compared against SALAL 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 |
|---|---|---|---|---|---|
| HELOC | 99 | $8,845,000 | $89,343 | n/a | 9.19% |
| Conventional | 33 | $15,755,000 | $477,424 | $6,744 | 6.46% |
For 2024, Salal's most frequently originated type of loan was HELOC, with 99 originations. Their 2nd most popular type was Conventional, with 33 originations.
Loan Reason
For 2024, Salal's most frequently cited loan purpose was Home Improvement, with 45 originations. The 2nd most popular reason was Other, with 41 originations.
Loan Duration/Length
For 2024, Salal's most frequently cited loan duration was Other, with 99 originations. The 2nd most popular length was 30 Year, with 29 originations.
Origination Fees/Closing Costs
Salal's average total fees were $6,954, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 12 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 99 | $8,845,000 | $89,343 |
| 6-7% | 21 | $10,725,000 | $510,714 |
| 5-6% | 8 | $3,570,000 | $446,250 |
| 7-8% | 4 | $1,460,000 | $365,000 |
During 2024, Salal's average interest rate for loans was 6.52%, while their most frequently originated rate bucket for loans was Over 8%, with 99 originations.
Loan Sizing
2024 saw Salal place emphasis on $100k-200k loans with 51 originations, totaling $5,875,000 in origination value.
Applicant Income
Salal lent most frequently to those with incomes in the $150k-250k range, with 42 originations. The second most popular income band? $100k-150k, with 37 originations.
Applicant Debt to Income Ratio
Salal lent most frequently to those with DTI ratios of 20-30%, with 30 originations. The next most common DTI ratio? <20%, with 20 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications66.04%
Salal has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination40.15%
Salal 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 |
|---|---|---|---|
| NA | 132 | $24,600,000 | $186,364 |