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 Other loans. Salal has a high proportion of conventional loans. Their top markets by origination volume include: Seattle, Los Angeles, Bremerton, Sacramento, and Spokane among others. We have data for 42 markets. (Some data included below & more in-depth data is available with an active subscription.)Salal 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. Salal is typically an average 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) | 6.27% | 4/28/24 |
| 30 Year Conventional Purchase | 6.42% | 4/28/24 |
| 30 Year Conventional Refi | 6.16% | 4/28/24 |
| 30 Year Cash-out Refi | 6.24% | 4/28/24 |
| 15 Year Conventional Purchase | 5.66% | 4/28/24 |
| 15 Year Conventional Refi | 5.64% | 4/28/24 |
| 15 Year Cash-out Refi | 5.64% | 4/28/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
729Origination Dollar Volume (All Markets)
$135,005,000Awards
SALAL - 2022
SALAL is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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) | 539 | $97,555,000 | $180,993 | $5,936 | 5.11% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 15 | $4,675,000 | $311,667 | $5,919 | 5.35% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 14 | $2,820,000 | $201,429 | $4,860 | 5.04% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 8 | $2,540,000 | $317,500 | $5,174 | 5.48% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 17 | $2,145,000 | $126,176 | $6,465 | 5.46% |
| WENATCHEE, WA (FHA|USDA|VA) | 3 | $1,985,000 | $661,667 | $5,107 | 3.87% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 15 | $1,945,000 | $129,667 | $2,083 | 5.16% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 12 | $1,900,000 | $158,333 | $0 | 5.97% |
| Outside of Metro Areas | 8 | $1,860,000 | $232,500 | $6,715 | 6.09% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $1,755,000 | $1,755,000 | $7,848 | 2.63% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 14 | $1,370,000 | $97,857 | $2,344 | 4.78% |
| Oak Harbor, WA (FHA|USDA|VA) | 7 | $1,285,000 | $183,571 | $3,543 | 4.60% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 12 | $1,260,000 | $105,000 | $0 | 5.78% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 6 | $1,190,000 | $198,333 | $0 | 5.74% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 1 | $1,175,000 | $1,175,000 | $5,374 | 4.75% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 2 | $1,040,000 | $520,000 | $7,999 | 4.43% |
| LONGVIEW, WA (FHA|USDA|VA) | 5 | $975,000 | $195,000 | $8,970 | 4.94% |
| SALINAS, CA (FHA|USDA|VA) | 1 | $955,000 | $955,000 | $5,672 | 2.88% |
| BELLINGHAM, WA (FHA|USDA|VA) | 7 | $945,000 | $135,000 | $3,429 | 5.62% |
| BEND, OR (FHA|USDA|VA) | 3 | $865,000 | $288,333 | $3,440 | 4.70% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 7 | $615,000 | $87,857 | $0 | 5.35% |
| Ellensburg, WA (FHA|USDA|VA) | 3 | $565,000 | $188,333 | $0 | 4.82% |
| EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) | 3 | $375,000 | $125,000 | $0 | 4.99% |
| FRESNO, CA (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $0 | 4.24% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $0 | 4.87% |
| GRANTS PASS, OR (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 8.49% |
| Hood River, OR (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 5.49% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $2,085 | 5.38% |
| YAKIMA, WA (FHA|USDA|VA) | 3 | $225,000 | $75,000 | $0 | 6.16% |
| STOCKTON, CA (FHA|USDA|VA) | 2 | $220,000 | $110,000 | $0 | 5.49% |
| Shelton, WA (FHA|USDA|VA) | 2 | $220,000 | $110,000 | $0 | 5.12% |
| SALEM, OR (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 4.24% |
| Centralia, WA (FHA|USDA|VA) | 2 | $160,000 | $80,000 | $0 | 6.24% |
| Aberdeen, WA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 6.99% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 5.49% |
| Clearlake, CA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 5.99% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 4.24% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 7.74% |
| MODESTO, CA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 3.99% |
| Roseburg, OR (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 5.49% |
| WALLA WALLA, WA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 5.49% |
| MEDFORD, OR (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 8.24% |
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 | 631 | $89,215,000 | $141,387 | n/a | 5.34% |
| Conventional | 98 | $45,790,000 | $467,245 | $5,759 | 4.07% |
For 2022, Salal's most frequently originated type of loan was HELOC, with 631 originations. Their 2nd most popular type was Conventional, with 98 originations.
Loan Reason
For 2022, Salal's most frequently cited loan purpose was Other, with 614 originations. The 2nd most popular reason was Cash Out Refi, with 41 originations.
Loan Duration/Length
For 2022, Salal's most frequently cited loan duration was Other, with 631 originations. The 2nd most popular length was 30 Year, with 80 originations.
Origination Fees/Closing Costs
Salal's average total fees were $6,123, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 28 originations.
Interest Rates
During 2022, Salal's average interest rate for loans was 4.22%, while their most frequently originated rate bucket for loans was 5-6%, with 211 originations.
Loan Sizing
2022 saw Salal place emphasis on $100,000 or less loans with 239 originations, totaling $13,895,000 in origination value.
Applicant Income
Salal lent most frequently to those with incomes in the $150k-250k range, with 214 originations. The second most popular income band? $100k-150k, with 194 originations.
Applicant Debt to Income Ratio
Salal lent most frequently to those with DTI ratios of 20-30%, with 159 originations. The next most common DTI ratio? 30-36%, with 125 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications71.34%
Salal has a below average approval rate.
Pick Rate
Approvals leading to origination68.04%
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 | 729 | $135,005,000 | $185,192 |