Washington State Employees Credit Union Mortgage Rates, Fees & InfoOLYMPIA, WA
Tax ID: 91-0683062
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewWashington State Employees Credit Union is a smaller credit union specializing in Other and Home Purchase loans. Washington State Employees Credit Union 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: Seattle, Olympia, Spokane, Centralia, and Kennewick among others. We have data for 36 markets. (Some data included below & more in-depth data is available with an active subscription.)
Washington State Employees Credit Union 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. Washington State Employees Credit Union 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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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.45%||3/30/23|
|30 Year Conventional Refi||6.40%||3/30/23|
|30 Year Cash-out Refi||6.66%||3/30/23|
|30 Year FHA Purchase||6.82%||3/30/23|
|15 Year Conventional Purchase||5.81%||3/30/23|
|15 Year Conventional Refi||6.46%||3/30/23|
|15 Year Cash-out Refi||6.46%||3/30/23|
|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.|
Origination Dollar Volume (All Markets)$563,025,000
Washington State Employees Credit Union's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.04%.
Relative Fees (Closing Costs)
Washington State Employees Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,794.
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 $4,750.
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)||991||$212,535,000||$214,465||$1,852||4.91%|
|OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA)||835||$156,865,000||$187,862||$1,754||4.94%|
|SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA)||259||$44,465,000||$171,680||$1,894||4.91%|
|Centralia, WA (FHA|USDA|VA)||141||$21,385,000||$151,667||$1,313||5.16%|
|KENNEWICK-RICHLAND, WA (FHA|USDA|VA)||27||$16,725,000||$619,444||$1,480||4.78%|
|Pullman, WA (FHA|USDA|VA)||92||$15,800,000||$171,739||$2,428||4.75%|
|YAKIMA, WA (FHA|USDA|VA)||85||$12,635,000||$148,647||$1,884||4.73%|
|Shelton, WA (FHA|USDA|VA)||68||$11,160,000||$164,118||$1,976||4.94%|
|Outside of Metro Areas||39||$9,295,000||$238,333||$2,830||4.75%|
|Aberdeen, WA (FHA|USDA|VA)||48||$8,730,000||$181,875||$1,829||5.00%|
|PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA)||39||$7,125,000||$182,692||$2,616||5.05%|
|BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA)||27||$6,515,000||$241,296||$1,655||4.69%|
|Ellensburg, WA (FHA|USDA|VA)||49||$6,425,000||$131,122||$1,168||5.13%|
|MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA)||21||$5,925,000||$282,143||$3,537||4.72%|
|Oak Harbor, WA (FHA|USDA|VA)||16||$3,630,000||$226,875||$2,573||4.94%|
|Outside of Metro Areas||11||$3,235,000||$294,091||$1,900||5.21%|
|Moscow, ID (FHA|USDA|VA)||19||$2,775,000||$146,053||$1,957||4.60%|
|BELLINGHAM, WA (FHA|USDA|VA)||16||$2,730,000||$170,625||$1,163||5.23%|
|WENATCHEE, WA (FHA|USDA|VA)||11||$2,445,000||$222,273||$2,160||5.15%|
|Moses Lake, WA (FHA|USDA|VA)||9||$2,305,000||$256,111||$3,040||4.95%|
|Port Angeles, WA (FHA|USDA|VA)||10||$2,090,000||$209,000||$2,066||4.86%|
|LONGVIEW, WA (FHA|USDA|VA)||7||$1,495,000||$213,571||$1,777||4.80%|
|BEND, OR (FHA|USDA|VA)||4||$1,140,000||$285,000||$2,353||4.81%|
|BOISE CITY, ID (FHA|USDA|VA)||2||$970,000||$485,000||$2,612||4.13%|
|WALLA WALLA, WA (FHA|USDA|VA)||4||$960,000||$240,000||$2,501||5.65%|
|Sandpoint, ID (FHA|USDA|VA)||4||$640,000||$160,000||$3,407||5.07%|
|Newport, OR (FHA|USDA|VA)||1||$525,000||$525,000||$3,765||3.50%|
|LEWISTON, ID-WA (FHA|USDA|VA)||5||$485,000||$97,000||$2,367||4.13%|
|CORVALLIS, OR (FHA|USDA|VA)||1||$365,000||$365,000||$2,640||5.00%|
|Brookings, OR (FHA|USDA|VA)||1||$365,000||$365,000||$4,552||6.13%|
|EUGENE-SPRINGFIELD, OR (FHA|USDA|VA)||2||$300,000||$150,000||$3,101||4.25%|
|ALBANY-LEBANON, OR (FHA|USDA|VA)||2||$280,000||$140,000||$2,611||4.45%|
|IDAHO FALLS, ID (FHA|USDA|VA)||1||$225,000||$225,000||$0||4.00%|
|Roseburg, OR (FHA|USDA|VA)||1||$205,000||$205,000||$5,556||3.25%|
|MEDFORD, OR (FHA|USDA|VA)||1||$155,000||$155,000||$0||4.69%|
|SALEM, OR (FHA|USDA|VA)||2||$120,000||$60,000||$0||6.14%|
We use machine learning to identify the top lenders compared against WASHINGTON STATE EMPLOYEES Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Washington State Employees Credit Union's most frequently originated type of loan was Conventional, with 1,572 originations. Their 2nd most popular type was HELOC, with 1,276 originations.
For 2022, Washington State Employees Credit Union's most frequently cited loan purpose was Other, with 1,561 originations. The 2nd most popular reason was Home Purchase, with 451 originations.
For 2022, Washington State Employees Credit Union's most frequently cited loan duration was 30 Year, with 1,907 originations. The 2nd most popular length was 20 Year, with 590 originations.
Origination Fees/Closing Costs
Washington State Employees Credit Union's average total fees were $3,794, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,267 originations.
During 2022, Washington State Employees Credit Union's average interest rate for loans was 4.72%, while their most frequently originated rate bucket for loans was 3-4%, with 882 originations.
2022 saw Washington State Employees Credit Union place emphasis on $100,000 or less loans with 1,209 originations, totaling $65,435,000 in origination value.
Washington State Employees Credit Union lent most frequently to those with incomes in the $100k-150k range, with 840 originations. The second most popular income band? $150k-250k, with 672 originations.
Applicant Debt to Income Ratio
Washington State Employees Credit Union lent most frequently to those with DTI ratios of 20-30%, with 754 originations. The next most common DTI ratio? 30-36%, with 671 originations.
Approval RatesTotal approvals of all applications
Washington State Employees Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick RateApprovals leading to origination
Washington State Employees Credit Union has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|