Washington State Employees Credit Union Mortgage Rates, Fees & Info

OLYMPIA, WA

LEI: 5493000FWM3I2HHQY149

Tax ID: 91-0683062

2.8 stars - Updated: 7/7/25 - out of 5 stars, based on 44 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Washington State Employees Credit Union is a smaller credit union specializing in Home Improvement, Cash Out Refi, and Home Purchase loans. Washington State Employees Credit Union has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Seattle, Olympia, Spokane, Centralia, and Yakima among others. We have data for 34 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 relatively high 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 7.03% 7/7/25
    30 Year Conventional Refi 6.77% 7/7/25
    30 Year Cash-out Refi 7.21% 7/7/25
    30 Year FHA Purchase 6.90% 7/7/25
    30 Year FHA Refi 6.88% 7/7/25
    30 Year VA Purchase 6.35% 7/7/25
    30 Year VA Refi 6.72% 7/7/25
    15 Year Conventional Purchase 6.24% 7/7/25
    15 Year Conventional Refi 7.21% 7/7/25
    15 Year Cash-out Refi 7.21% 7/7/25
    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.

    Washington State Employees Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Washington State Employees Credit Union. 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

    1,960

    Origination Dollar Volume (All Markets)

    $369,680,000
    Show all (9) awards

    Relative Rate

    Washington State Employees Credit Union's average 30 year fixed mortgage rate was 7.97%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of 1.42%.

    Relative Fees (Closing Costs)

    Washington State Employees Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $6,250.

    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) 626 $161,240,000 $257,572 $1,890 7.86%
    OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 633 $87,995,000 $139,013 $1,141 7.90%
    SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 174 $21,950,000 $126,149 $1,683 7.78%
    Centralia, WA (FHA|USDA|VA) 109 $16,315,000 $149,679 $1,575 7.71%
    YAKIMA, WA (FHA|USDA|VA) 89 $12,185,000 $136,910 $2,355 7.67%
    BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 24 $9,200,000 $383,333 $3,868 7.56%
    BOISE CITY, ID (FHA|USDA|VA) 3 $7,695,000 $2,565,000 $5,820 6.99%
    Pullman, WA (FHA|USDA|VA) 51 $6,545,000 $128,333 $2,080 7.95%
    Aberdeen, WA (FHA|USDA|VA) 37 $5,185,000 $140,135 $1,459 7.77%
    Oak Harbor, WA (FHA|USDA|VA) 15 $4,885,000 $325,667 $2,555 7.53%
    Shelton, WA (FHA|USDA|VA) 37 $4,775,000 $129,054 $1,885 7.62%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 25 $4,635,000 $185,400 $1,358 8.18%
    Ellensburg, WA (FHA|USDA|VA) 27 $3,825,000 $141,667 $1,990 7.90%
    Moscow, ID (FHA|USDA|VA) 7 $2,985,000 $426,429 $702 7.58%
    Moses Lake, WA (FHA|USDA|VA) 9 $2,705,000 $300,556 $2,416 7.10%
    Outside of Metro Areas 17 $2,315,000 $136,176 $1,784 7.65%
    Port Angeles, WA (FHA|USDA|VA) 10 $2,150,000 $215,000 $3,587 7.19%
    WALLA WALLA, WA (FHA|USDA|VA) 5 $2,075,000 $415,000 $2,379 8.02%
    KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 14 $1,960,000 $140,000 $868 7.80%
    BELLINGHAM, WA (FHA|USDA|VA) 11 $1,935,000 $175,909 $4,204 7.68%
    MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 7 $1,805,000 $257,857 $5,495 7.71%
    WENATCHEE, WA (FHA|USDA|VA) 9 $1,745,000 $193,889 $4,313 7.43%
    Outside of Metro Areas 4 $1,340,000 $335,000 $2,513 7.53%
    LEWISTON, ID-WA (FHA|USDA|VA) 3 $735,000 $245,000 $6,152 7.25%
    Sandpoint, ID (FHA|USDA|VA) 1 $475,000 $475,000 $3,715 6.63%
    Othello, WA (FHA|USDA|VA) 2 $350,000 $175,000 $1,252 7.40%
    LONGVIEW, WA (FHA|USDA|VA) 3 $235,000 $78,333 $0 8.91%
    BEND, OR (FHA|USDA|VA) 2 $210,000 $105,000 $0 7.91%
    The Dalles, OR (FHA|USDA|VA) 1 $95,000 $95,000 $0 7.44%
    MEDFORD, OR (FHA|USDA|VA) 1 $35,000 $35,000 $0 8.35%
    Roseburg, OR (FHA|USDA|VA) 1 $35,000 $35,000 $0 8.50%
    Astoria, OR (FHA|USDA|VA) 1 $25,000 $25,000 $0 8.24%
    EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 1 $25,000 $25,000 $0 7.51%
    SALEM, OR (FHA|USDA|VA) 1 $15,000 $15,000 $0 7.15%
    Washington State Employees Credit Union's top markets include Seattle, Olympia, Spokane, Centralia, and Yakima among others.

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

    • Similar Lenders

    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.

    Potlatch No. 1 Financial Credit Union
    Similarity Rank: 46
    Olympia Federal Savings & Loan Association
    Similarity Rank: 56
    Solarity Credit Union
    Similarity Rank: 126
    Yakima Federal Savings and Loan Association
    Similarity Rank: 378
    KITSAP Credit Union
    Similarity Rank: 380
    INROADS
    Similarity Rank: 552
    Clackamas Federal Credit Union
    Similarity Rank: 558
    HAPO COMMUNITY CREDIT UNION
    Similarity Rank: 595
    SOUND
    Similarity Rank: 774
    O BEE
    Similarity Rank: 833

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,133 $245,785,000 $216,933 $1,122 7.48%
    HELOC 766 $101,410,000 $132,389 n/a 8.48%
    FHA 54 $20,230,000 $374,630 $12,207 6.11%
    VA 7 $2,255,000 $322,143 $7,508 6.14%

    For 2024, Washington State Employees Credit Union's most frequently originated type of loan was Conventional, with 1,133 originations. Their 2nd most popular type was HELOC, with 766 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 811 $77,855,000 $95,999 $51 8.12%
    Cash Out Refi 450 $90,450,000 $201,000 $1,488 7.90%
    Other 388 $38,960,000 $100,412 $13 8.07%
    Home Purchase 262 $148,170,000 $565,534 $6,378 6.50%
    Refi 49 $14,245,000 $290,714 $1,971 7.46%

    For 2024, Washington State Employees Credit Union's most frequently cited loan purpose was Home Improvement, with 811 originations. The 2nd most popular reason was Cash Out Refi, with 450 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,053 $228,115,000 $216,633 $6,250 7.97%
    20 Year 413 $45,005,000 $108,971 $214 7.91%
    15 Year 350 $23,600,000 $67,429 $116 7.56%
    10 Year 144 $72,960,000 $506,667 $93 7.18%

    For 2024, Washington State Employees Credit Union's most frequently cited loan duration was 30 Year, with 1,053 originations. The 2nd most popular length was 20 Year, with 413 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,035 $163,525,000 $157,995
    $1k-2k 26 $5,770,000 $221,923
    $2k-3k 26 $7,510,000 $288,846
    $5k+ 24 $12,000,000 $500,000
    $4k-5k 21 $7,255,000 $345,476
    $3k-4k 16 $5,290,000 $330,625

    Washington State Employees Credit Union's average total fees were $6,250, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,035 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 838 $102,170,000 $121,921
    7-8% 783 $83,985,000 $107,261
    6-7% 268 $118,230,000 $441,157
    5-6% 71 $65,295,000 $919,648

    During 2024, Washington State Employees Credit Union's average interest rate for loans was 7.97%, while their most frequently originated rate bucket for loans was Over 8%, with 838 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 952 $52,580,000 $55,231 $59 7.97%
    $100k-200k 497 $65,715,000 $132,223 $854 8.13%
    $200k-400k 321 $90,825,000 $282,944 $4,746 7.59%
    $400k-600k 97 $43,925,000 $452,835 $7,244 7.08%
    $600k-1MM 52 $38,350,000 $737,500 $6,654 6.39%
    $1MM+ 41 $78,285,000 $1,909,390 $5,848 6.16%

    2024 saw Washington State Employees Credit Union place emphasis on $100,000 or less loans with 952 originations, totaling $52,580,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 574 $78,960,000 $137,561 $1,717 7.87%
    $150k-250k 548 $91,000,000 $166,058 $1,392 8.01%
    $75k-100k 305 $36,555,000 $119,852 $2,020 7.66%
    $50k-75k 207 $19,285,000 $93,164 $1,165 7.74%
    $250k+ 198 $67,710,000 $341,970 $2,277 8.04%
    $50k or less 45 $3,265,000 $72,556 $1,267 7.58%

    Washington State Employees Credit Union lent most frequently to those with incomes in the $100k-150k range, with 574 originations. The second most popular income band? $150k-250k, with 548 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 499 $63,395,000 $127,044 $781 7.93%
    30-36% 447 $59,005,000 $132,002 $1,089 8.04%
    <20% 184 $18,740,000 $101,848 $767 7.84%
    39% 101 $20,065,000 $198,663 $2,582 7.97%
    38% 88 $13,480,000 $153,182 $1,461 7.90%
    37% 83 $13,335,000 $160,663 $1,575 7.79%
    40% 74 $13,600,000 $183,784 $1,709 7.82%
    42% 70 $14,340,000 $204,857 $3,150 7.82%
    36% 70 $9,890,000 $141,286 $957 8.01%
    41% 68 $16,070,000 $236,324 $2,634 7.78%
    44% 58 $13,760,000 $237,241 $2,709 7.46%
    43% 47 $12,955,000 $275,638 $2,045 7.60%
    45% 39 $8,455,000 $216,795 $2,063 7.83%
    46% 22 $5,270,000 $239,545 $5,035 7.56%
    49% 16 $4,980,000 $311,250 $7,214 6.71%
    50-60% 16 $4,460,000 $278,750 $9,101 7.20%
    47% 13 $5,205,000 $400,385 $7,591 7.17%
    48% 9 $1,515,000 $168,333 $3,519 7.03%
    >60% 4 $1,200,000 $300,000 $6,015 7.91%

    Washington State Employees Credit Union lent most frequently to those with DTI ratios of 20-30%, with 499 originations. The next most common DTI ratio? 30-36%, with 447 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,486 $215,710,000 $145,162 $1,543 7.89%
    Not applicable 41 $61,595,000 $1,502,317 $0 6.03%
    Not provided 218 $38,930,000 $178,578 $2,038 7.81%
    Asian 111 $33,455,000 $301,396 $2,734 7.82%
    Black 53 $7,925,000 $149,528 $1,623 7.78%
    Asian Indian 7 $7,025,000 $1,003,571 $4,959 6.18%
    American Indian 32 $3,690,000 $115,313 $1,643 7.84%
    Native Hawaiian or Islander 11 $995,000 $90,455 $97 8.46%
    Other Pacific Islander 1 $355,000 $355,000 $11,640 6.13%

    Approval Rates

    Total approvals of all applications
    57.83%

    Washington State Employees Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    83.32%

    Washington State Employees Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,960 $369,680,000 $188,612

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,960 $369,680,000 $188,612

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 437 $76,635,000 $175,366 $640 8.12%
    40-60% 140 $64,680,000 $462,000 $3,331 7.45%
    60-80% 124 $81,780,000 $659,516 $5,333 6.74%
    80-100% 133 $64,235,000 $482,970 $7,591 6.59%
    Over 100% 1 $665,000 $665,000 $24,059 5.75%
    Under 20% 1,120 $79,840,000 $71,286 $84 8.03%