Salal Mortgage Rates, Fees & Info
Seattle, WALEI: 5493000BAKE4VAHVCU55
Tax ID: 91-0593941
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Salal is a smaller mortgage company specializing in Refi and Cash Out Refi loans. Salal has a high proportion of conventional loans. Their top markets by origination volume include: Seattle, Bremerton, Riverside, Los Angeles, and Oak Harbor among others. We have data for 22 markets. (Some data included below & more in-depth data is available with an active subscription.)Salal 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. 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.
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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 5/4/24 |
| 30 Year Conventional Purchase | 6.42% | 5/4/24 |
| 30 Year Conventional Refi | 6.16% | 5/4/24 |
| 30 Year Cash-out Refi | 6.24% | 5/4/24 |
| 15 Year Conventional Purchase | 5.66% | 5/4/24 |
| 15 Year Conventional Refi | 5.64% | 5/4/24 |
| 15 Year Cash-out Refi | 5.64% | 5/4/24 |
| 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. | ||
Salal Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Salal. 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
329Origination Dollar Volume (All Markets)
$122,405,000Awards
SALAL - 2020
SALAL is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
Work for SALAL?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
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) | 271 | $101,095,000 | $373,044 | $3,249 | 3.03% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 15 | $4,245,000 | $283,000 | $2,952 | 3.09% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 4 | $2,180,000 | $545,000 | $2,573 | 2.94% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 2 | $2,120,000 | $1,060,000 | $10,122 | 3.06% |
| Oak Harbor, WA (FHA|USDA|VA) | 3 | $1,795,000 | $598,333 | $4,670 | 2.71% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 6 | $1,510,000 | $251,667 | $3,799 | 2.92% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 4 | $1,280,000 | $320,000 | $3,553 | 3.22% |
| BELLINGHAM, WA (FHA|USDA|VA) | 4 | $1,260,000 | $315,000 | $3,442 | 2.94% |
| Shelton, WA (FHA|USDA|VA) | 2 | $990,000 | $495,000 | $4,694 | 3.19% |
| Outside of Metro Areas | 2 | $880,000 | $440,000 | $2,746 | 3.56% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $855,000 | $855,000 | $2,547 | 2.50% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 2 | $820,000 | $410,000 | $1,950 | 3.13% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $775,000 | $775,000 | $2,262 | 3.00% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 3 | $655,000 | $218,333 | $5,357 | 3.25% |
| WENATCHEE, WA (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $2,896 | 2.81% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $1,502 | 3.75% |
| BEND, OR (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,123 | 3.38% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,151 | 3.38% |
| Aberdeen, WA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $1,203 | 2.88% |
| Moses Lake, WA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,541 | 3.25% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $1,993 | 2.13% |
| MADERA, CA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $1,914 | 2.25% |
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.
Similarity Rank: 378
Similarity Rank: 1106
Similarity Rank: 1830
Similarity Rank: 2670
Similarity Rank: 4053
Similarity Rank: 4120
Similarity Rank: 4170
Similarity Rank: 4260
Similarity Rank: 4608
Similarity Rank: 4784
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 329 | $122,405,000 | $372,052 | $3,283 | 3.03% |
For 2020, Salal's most frequently originated type of loan was Conventional, with 329 originations.
Loan Reason
For 2020, Salal's most frequently cited loan purpose was Refi, with 169 originations. The 2nd most popular reason was Cash Out Refi, with 124 originations.
Loan Duration/Length
For 2020, Salal's most frequently cited loan duration was 30 Year, with 192 originations. The 2nd most popular length was 15 Year, with 80 originations.
Origination Fees/Closing Costs
Salal's average total fees were $3,717, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 214 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 165 | $63,075,000 | $382,273 |
| 2.5-3% | 106 | $42,150,000 | $397,642 |
| <2.5% | 57 | $16,715,000 | $293,246 |
| 4-5% | 1 | $465,000 | $465,000 |
During 2020, Salal's average interest rate for loans was 3.26%, while their most frequently originated rate bucket for loans was 3-4%, with 165 originations.
Loan Sizing
2020 saw Salal place emphasis on $200k-400k loans with 172 originations, totaling $50,160,000 in origination value.
Applicant Income
Salal lent most frequently to those with incomes in the $100k-150k range, with 101 originations. The second most popular income band? $150k-250k, with 83 originations.
Applicant Debt to Income Ratio
Salal lent most frequently to those with DTI ratios of 20-30%, with 105 originations. The next most common DTI ratio? 30-36%, with 60 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.73%
Salal has an average approval rate.
Pick Rate
Approvals leading to origination31.91%
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 | 329 | $122,405,000 | $372,052 |