Washington Financial Bank Mortgage Rates, Fees & Info

Washington, PA

LEI: 5493000M096YV1VLKD70

Tax ID: 25-0866405

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Mortgage Data

Bank Data

Review & Overview

Washington Financial Bank is a smaller bank specializing in Home Purchase and Refi loans. Washington Financial Bank has a high proportion of conventional loans. Their top markets by origination volume include: Pittsburgh, Wheeling, New Castle, Youngstown, and North Port among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)

Washington Financial Bank 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.

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
Home Equity Line of Credit (HELOC) 5.08% 3/28/24
30 Year Conventional Purchase 6.20% 3/28/24
30 Year Conventional Refi 6.10% 3/28/24
30 Year Cash-out Refi 5.96% 3/28/24
15 Year Conventional Purchase 6.09% 3/28/24
15 Year Conventional Refi 5.51% 3/28/24
15 Year Cash-out Refi 5.51% 3/28/24
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.

Washington Financial Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from Washington Financial Bank. 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

537

Origination Dollar Volume (All Markets)

$177,925,000

Employee count

179

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
PITTSBURGH, PA (FHA|USDA|VA) 511 $168,935,000 $330,597 $0 0.00%
WHEELING, WV-OH (FHA|USDA|VA) 3 $3,045,000 $1,015,000 $0 0.00%
New Castle, PA (FHA|USDA|VA) 5 $1,535,000 $307,000 $0 0.00%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 5 $875,000 $175,000 $0 0.00%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $605,000 $605,000 $0 0.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $515,000 $515,000 $0 0.00%
Somerset, PA (FHA|USDA|VA) 1 $455,000 $455,000 $0 0.00%
WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) 1 $425,000 $425,000 $0 0.00%
Outside of Metro Areas 3 $375,000 $125,000 $0 0.00%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $375,000 $375,000 $0 0.00%
ERIE, PA (FHA|USDA|VA) 2 $250,000 $125,000 $0 0.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
Washington Financial Bank's top markets include Pittsburgh, Wheeling, New Castle, Youngstown, and North Port among others.

Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • West Virginia (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Washington Financial Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    M. S. Flynn, Inc.
    Similarity Rank: 236
    TRI BORO
    Similarity Rank: 264
    WELCOME HOME FINANCE, L.P.
    Similarity Rank: 456
    NEW FED MORTGAGE, CORP.
    Similarity Rank: 644
    ARMCO CREDIT UNION
    Similarity Rank: 645
    PRINCETON FINANCIAL LLC
    Similarity Rank: 754
    Standard Bank, PaSB
    Similarity Rank: 756

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 537 $177,925,000 $331,331 $0 0.00%

    For 2020, Washington Financial Bank's most frequently originated type of loan was Conventional, with 537 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 243 $103,055,000 $424,095 $0 0.00%
    Refi 197 $58,675,000 $297,843 $0 0.00%
    Cash Out Refi 49 $13,215,000 $269,694 $0 0.00%
    Other 29 $1,965,000 $67,759 $0 0.00%
    Home Improvement 19 $1,015,000 $53,421 $0 0.00%

    For 2020, Washington Financial Bank's most frequently cited loan purpose was Home Purchase, with 243 originations. The 2nd most popular reason was Refi, with 197 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 537 $177,925,000 $331,331 $0 0.00%

    For 2020, Washington Financial Bank's most frequently cited loan duration was Other, with 537 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 148 $43,080,000 $291,081 $0 0.00%
    $100k-200k 127 $19,075,000 $150,197 $0 0.00%
    $100,000 or less 105 $5,645,000 $53,762 $0 0.00%
    $400k-600k 78 $38,040,000 $487,692 $0 0.00%
    $600k-1MM 66 $48,110,000 $728,939 $0 0.00%
    $1MM+ 13 $23,975,000 $1,844,231 $0 0.00%

    2020 saw Washington Financial Bank place emphasis on $200k-400k loans with 148 originations, totaling $43,080,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 118 $44,560,000 $377,627 $0 0.00%
    $100k-150k 108 $28,260,000 $261,667 $0 0.00%
    $250k+ 80 $45,220,000 $565,250 $0 0.00%
    $50k-75k 61 $7,665,000 $125,656 $0 0.00%
    $75k-100k 58 $11,280,000 $194,483 $0 0.00%
    $50k or less 38 $3,620,000 $95,263 $0 0.00%

    Washington Financial Bank lent most frequently to those with incomes in the $150k-250k range, with 118 originations. The second most popular income band? $100k-150k, with 108 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 537 $177,925,000 $331,331 $0 0.00%

    Washington Financial Bank lent most frequently to those with DTI ratios of Exempt%, with 537 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 450 $134,410,000 $298,689 $0 0.00%
    Not applicable 47 $29,805,000 $634,149 $0 0.00%
    Not provided 28 $9,110,000 $325,357 $0 0.00%
    Asian 5 $3,305,000 $661,000 $0 0.00%
    Black 6 $1,270,000 $211,667 $0 0.00%
    American Indian 1 $25,000 $25,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.68%

    Washington Financial Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.61%

    Washington Financial Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 537 $177,925,000 $331,331

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 25 $27,965,000 $1,118,600
    Single Family (1-4 Units):Manufactured 7 $575,000 $82,143
    Single Family (1-4 Units):Site-Built 505 $149,385,000 $295,812

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    WASHINGTON FEDERAL BANK, NATIONAL ASSOCIATION Conventional home mortgage Trouble during payment process 2 33.3%
    WASHINGTON FEDERAL BANK, NATIONAL ASSOCIATION Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 2 33.3%
    WASHINGTON FEDERAL BANK, NATIONAL ASSOCIATION Other type of mortgage Closing on a mortgage 1 16.7%
    WASHINGTON FEDERAL BANK, NATIONAL ASSOCIATION Other type of mortgage Struggling to pay mortgage 1 16.7%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Washington Financial Bank 1500 W. Chestnut Street Washington, PA 15301 Full Service B&M $96,464
    Washington Financial Bank 160 East Pike Street Canonsburg, PA 15317 Full Service B&M $78,803
    Washington Financial Bank 173 Millers Run Road Bridgeville, PA 15017 Full Service B&M $18,329
    Washington Financial Bank 1803 Main Street Burgettstown, PA 15021 Full Service B&M $16,953
    Washington Financial Bank 220 Main Street Hickory, PA 15340 Full Service B&M $98,687
    Washington Financial Bank 255 Murtland Avenue, Washington Mall Plaza Washington, PA 15301 Full Service B&M $109,426
    Washington Financial Bank 3616 Washington Road Mcmurray, PA 15317 Full Service B&M $190,657
    Washington Financial Bank 430 Valley Brook Road Mc Murray, PA 15317 Full Service B&M $57,935
    Washington Financial Bank 77 South Main Street Washington, PA 15301 Full Service B&M $360,813
    Washington Financial Bank 98 E. Wylie Avenue Washington, PA 15301 Full Service B&M $56,360

    For 2020, Washington Financial Bank had 10 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $39,349
    Net interest income $33,708
    Total noninterest income $5,132
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $438
    Trading account gains and fees $0
    Additional Noninterest Income $4,694
    Pre-tax net operating income $10,357
    Securities gains (or losses, -) $0
    Income before extraordinary items $8,856
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $8,856
    Minority interest net income $0
    Net income $8,856
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $8,856

    Washington Financial Bank's gross interest income from loans was $39,349,000.
    Washington Financial Bank's net interest income from loans was $33,708,000.
    Washington Financial Bank's fee based income from loans was $438,000.
    Washington Financial Bank's net income from loans was $8,856,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $5,641
    Provision for credit losses $675
    Total noninterest expense $27,808
    Salaries and employee benefits $16,219
    Premises and equipment expense $2,927
    Additional noninterest expense $8,662
    Applicable income taxes $1,501
    Net charge-offs $1,248
    Cash dividends $82

    Washington Financial Bank's interest expense for loans was $5,641,000.
    Washington Financial Bank's payroll and benefits expense were $16,219,000.
    Washington Financial Bank's property, plant and equipment expenses $2,927,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 1.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $1,184,099
    Deposits held in domestic offices $1,184,099
    Deposits by Individuals, partnerships, and corporations $911,639
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $272,211
    Deposits by Commercial banks and other depository institutions in U.S. $249
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $494,019
    Demand deposits $130,901
    Nontransaction accounts $690,080
    Money market deposit accounts (MMDAs) $383,117
    Other savings deposits (excluding MMDAs) $172,129
    Total time deposits $134,834
    Total time and savings deposits $1,053,198
    Noninterest-bearing deposits $203,239
    Interest-bearing deposits $980,860
    Retail deposits $1,162,725
    IRAs and Keogh plan accounts $36,805
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,352,346
    Cash & Balances due from depository institutions $144,976
    Interest-bearing balances $137,335
    Total securities $232,172
    Federal funds sold & reverse repurchase $0
    Net loans and leases $913,442
    Loan and leases loss allowance $9,587
    Trading account assets $0
    Bank premises and fixed assets $11,827
    Other real estate owned $3,049
    Goodwill and other intangibles $246
    All other assets $46,634

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,352,346
    Total Liabilities $1,188,381
    Total deposits $1,184,099
    Interest-bearing deposits $980,860
    Deposits held in domestic offices $1,184,099
    % insured (estimated) $84
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $4,282

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $913,442
    Loan and leases loss allowance $9,587
    Total loans and leases (domestic) $923,029
    All real estate loans $823,049
    Real estate loans in domestic offices $823,049
    Construction and development loans $102,643
    Residential 1-4 family construction $40,209
    Other construction, all land development and other land $62,434
    Loans secured by nonfarm nonresidential properties $233,486
    Nonfarm nonresidential secured by owner-occupied properties $45,274
    Commercial real estate & other non-farm, non-residential $188,212
    Multifamily residential real estate $71,157
    1-4 family residential loans $415,763
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $68,220
    To non-U.S. addressees $0
    Loans to individuals $4,255
    Credit card loans $0
    Related Plans $1,973
    Consumer Auto Loans $1,407
    Other loans to individuals $875
    All other loans & leases $27,505
    Loans to foreign governments and official institutions $0
    Other loans $24,150
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $61
    Non 1-4 family restructured loans & leases $61
    Total loans and leases (foreign) $0

    Washington Financial Bank had $913,442,000 of loans outstanding in 2020. $823,049,000 of loans were in real estate loans. $102,643,000 of loans were in development loans. $71,157,000 of loans were in multifamily mortgage loans. $415,763,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $1,407,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 228 $58,245 $255,461
    Nonfarm, nonresidential loans - <$100k 31 $1,110 $35,806
    Nonfarm, nonresidential loans - $100-250k 77 $9,643 $125,234
    Nonfarm, nonresidential loans - $250k-1MM 120 $47,492 $395,767
    Commercial & Industrial, US addressed loans - <$1MM 285 $23,438 $82,239
    Commercial & Industrial, US addressed loans - <$100k 122 $2,529 $20,730
    Commercial & Industrial, US addressed loans - $100-250k 55 $3,565 $64,818
    Commercial & Industrial, US addressed loans - $250k-1MM 108 $17,344 $160,593