Washington Financial Bank Mortgage Rates, Fees & Info

Washington, PA

LEI: 5493000M096YV1VLKD70

Tax ID: 25-0866405

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • 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, Youngstown, New Castle, Washington, and Oil City among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Washington Financial Bank has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. Washington Financial Bank 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) 5.08% 4/21/24
    30 Year Conventional Purchase 6.20% 4/21/24
    30 Year Conventional Refi 6.10% 4/21/24
    30 Year Cash-out Refi 5.96% 4/21/24
    15 Year Conventional Purchase 6.09% 4/21/24
    15 Year Conventional Refi 5.51% 4/21/24
    15 Year Cash-out Refi 5.51% 4/21/24
    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

    528

    Origination Dollar Volume (All Markets)

    $157,130,000

    Employee count

    165

    Awards

    Washington Financial Bank 30 Year Conventional Loans silver
    Show all (1) awards

    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) 505 $151,365,000 $299,733 $3,635 3.36%
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 4 $1,370,000 $342,500 $9,593 3.16%
    New Castle, PA (FHA|USDA|VA) 4 $990,000 $247,500 $4,073 3.42%
    Outside of Metro Areas 5 $865,000 $173,000 $3,027 3.08%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 2 $620,000 $310,000 $4,039 3.19%
    Oil City, PA (FHA|USDA|VA) 2 $560,000 $280,000 $9,751 3.25%
    WHEELING, WV-OH (FHA|USDA|VA) 1 $475,000 $475,000 $3,872 3.38%
    Kill Devil Hills, NC (FHA|USDA|VA) 1 $345,000 $345,000 $2,940 3.13%
    Indiana, PA (FHA|USDA|VA) 1 $285,000 $285,000 $7,501 3.38%
    Meadville, PA (FHA|USDA|VA) 1 $105,000 $105,000 $2,753 3.13%
    ERIE, PA (FHA|USDA|VA) 1 $105,000 $105,000 $3,212 3.00%
    WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) 1 $45,000 $45,000 $2,276 3.38%
    Washington Financial Bank's top markets include Pittsburgh, Youngstown, New Castle, Washington, and Oil City among others.

    Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • West Virginia (FHA|USDA|VA)
  • District of Columbia (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Maryland (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.

    TRI BORO
    Similarity Rank: 208
    WELCOME HOME FINANCE, L.P.
    Similarity Rank: 414
    HANCOCK COUNTY SAVINGS BANK, FSB, INC.
    Similarity Rank: 524
    Standard Bank, PaSB
    Similarity Rank: 584
    First Federal Savings and Loan Association of Greene Co
    Similarity Rank: 639
    Clear Mountain Bank
    Similarity Rank: 928
    AmeriServ Financial Bank
    Similarity Rank: 1120
    Community Bank
    Similarity Rank: 1260
    InFirst Bank
    Similarity Rank: 1450
    The Farmers National Bank of Emlenton
    Similarity Rank: 1476

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 528 $157,130,000 $297,595 $3,708 3.36%

    For 2021, Washington Financial Bank's most frequently originated type of loan was Conventional, with 528 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 227 $85,985,000 $378,789 $5,957 3.34%
    Refi 193 $53,465,000 $277,021 $2,153 3.26%
    Cash Out Refi 41 $12,455,000 $303,780 $4,546 3.37%
    Home Improvement 39 $3,155,000 $80,897 $595 3.60%
    Other 28 $2,070,000 $73,929 $421 3.82%

    For 2021, Washington Financial Bank's most frequently cited loan purpose was Home Purchase, with 227 originations. The 2nd most popular reason was Refi, with 193 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 131 $35,135,000 $268,206 $3,789 3.18%
    30+ year 123 $65,135,000 $529,553 $7,924 3.23%
    20 Year 113 $27,395,000 $242,434 $2,008 3.54%
    15 Year 110 $16,510,000 $150,091 $1,192 3.45%
    10 Year 27 $9,085,000 $336,481 $352 3.65%
    5 Year 13 $685,000 $52,692 $395 3.47%
    Other 10 $3,160,000 $316,000 $3,798 3.15%
    3 Year 1 $25,000 $25,000 $369 3.49%

    For 2021, Washington Financial Bank's most frequently cited loan duration was 30 Year, with 131 originations. The 2nd most popular length was 30+ year, with 123 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 456 $120,190,000 $263,575
    $5k+ 20 $12,020,000 $601,000
    $1k-2k 6 $2,190,000 $365,000
    $4k-5k 6 $3,050,000 $508,333
    $2k-3k 3 $965,000 $321,667
    $3k-4k 1 $755,000 $755,000

    Washington Financial Bank's average total fees were $3,789, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 456 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 357 $110,615,000 $309,846
    2.5-3% 131 $43,735,000 $333,855
    4-5% 33 $2,425,000 $73,485
    5-6% 7 $355,000 $50,714

    During 2021, Washington Financial Bank's average interest rate for loans was 3.18%, while their most frequently originated rate bucket for loans was 3-4%, with 357 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 142 $40,340,000 $284,085 $4,145 3.13%
    $100,000 or less 132 $7,270,000 $55,076 $767 3.74%
    $100k-200k 128 $18,260,000 $142,656 $2,220 3.34%
    $400k-600k 61 $30,225,000 $495,492 $6,840 3.13%
    $600k-1MM 50 $37,810,000 $756,200 $8,102 3.24%
    $1MM+ 15 $23,225,000 $1,548,333 $13,423 3.53%

    2021 saw Washington Financial Bank place emphasis on $200k-400k loans with 142 originations, totaling $40,340,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 107 $26,365,000 $246,402 $3,889 3.24%
    $150k-250k 106 $39,840,000 $375,849 $4,687 3.29%
    $250k+ 73 $44,505,000 $609,658 $6,157 3.30%
    $75k-100k 67 $12,185,000 $181,866 $3,222 3.34%
    $50k-75k 63 $8,335,000 $132,302 $1,915 3.40%
    $50k or less 60 $5,370,000 $89,500 $1,725 3.45%

    Washington Financial Bank lent most frequently to those with incomes in the $100k-150k range, with 107 originations. The second most popular income band? $150k-250k, with 106 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 150 $40,550,000 $270,333 $3,779 3.35%
    30-36% 113 $33,015,000 $292,168 $3,786 3.39%
    <20% 62 $18,890,000 $304,677 $3,527 3.19%
    37% 21 $6,715,000 $319,762 $3,594 3.45%
    36% 19 $4,645,000 $244,474 $3,747 3.18%
    42% 18 $5,420,000 $301,111 $4,867 3.32%
    44% 17 $4,705,000 $276,765 $3,078 3.28%
    41% 16 $4,200,000 $262,500 $3,128 3.27%
    38% 16 $3,550,000 $221,875 $2,856 3.33%
    40% 14 $3,130,000 $223,571 $3,271 3.24%
    39% 12 $4,160,000 $346,667 $4,794 3.22%
    43% 12 $4,160,000 $346,667 $5,127 3.24%
    45% 7 $1,995,000 $285,000 $2,995 3.14%
    46% 4 $1,490,000 $372,500 $3,907 3.25%
    49% 4 $1,300,000 $325,000 $3,195 3.19%
    48% 2 $300,000 $150,000 $309 3.68%
    50-60% 2 $580,000 $290,000 $3,480 3.25%
    >60% 2 $210,000 $105,000 $1,839 4.44%
    47% 1 $155,000 $155,000 $3,029 3.00%

    Washington Financial Bank lent most frequently to those with DTI ratios of 20-30%, with 150 originations. The next most common DTI ratio? 30-36%, with 113 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 454 $123,950,000 $273,018 $3,482 3.31%
    Not applicable 33 $16,655,000 $504,697 $0 3.89%
    Not provided 22 $10,650,000 $484,091 $7,525 3.32%
    Asian 6 $3,480,000 $580,000 $5,039 3.42%
    Black 8 $1,370,000 $171,250 $4,175 3.34%
    Asian Indian 2 $610,000 $305,000 $9,252 4.50%
    American Indian 2 $380,000 $190,000 $2,784 3.37%
    Chinese 1 $35,000 $35,000 $342 4.00%

    Approval Rates

    Total approvals of all applications
    89.75%

    Washington Financial Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    92.61%

    Washington Financial Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 528 $157,130,000 $297,595

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    528 $157,130,000 $297,595

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 50 $6,370,000 $127,400 $1,193 3.49%
    40-60% 92 $21,220,000 $230,652 $2,732 3.23%
    60-80% 180 $74,890,000 $416,056 $4,817 3.30%
    80-100% 141 $51,065,000 $362,163 $5,529 3.23%
    Under 20% 64 $3,470,000 $54,219 $398 3.86%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    WASHINGTON FEDERAL BANK, NATIONAL ASSOCIATION Conventional home mortgage Closing on a mortgage 1 16.7%
    WASHINGTON FEDERAL BANK, NATIONAL ASSOCIATION Conventional home mortgage Trouble during payment process 3 50.0%
    WASHINGTON FEDERAL BANK, NATIONAL ASSOCIATION Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 16.7%
    WASHINGTON FEDERAL BANK, NATIONAL ASSOCIATION Other type of mortgage Applying for a mortgage or refinancing an existing 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 $107,478
    Washington Financial Bank 160 East Pike Street Canonsburg, PA 15317 Full Service B&M $103,330
    Washington Financial Bank 173 Millers Run Road Bridgeville, PA 15017 Full Service B&M $35,686
    Washington Financial Bank 1803 Main Street Burgettstown, PA 15021 Full Service B&M $19,425
    Washington Financial Bank 220 Main Street Hickory, PA 15340 Full Service B&M $106,323
    Washington Financial Bank 255 Murtland Avenue, Washington Mall Plaza Washington, PA 15301 Full Service B&M $126,054
    Washington Financial Bank 3576 Sheridan Ave Finleyville, PA 15332 Full Service B&M $5,583
    Washington Financial Bank 3616 Washington Road Mcmurray, PA 15317 Full Service B&M $230,736
    Washington Financial Bank 430 Valley Brook Road Mc Murray, PA 15317 Full Service B&M $64,365
    Washington Financial Bank 77 South Main Street Washington, PA 15301 Full Service B&M $410,595
    Washington Financial Bank 98 E. Wylie Avenue Washington, PA 15301 Full Service B&M $66,851

    For 2021, Washington Financial Bank had 11 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $39,592
    Net interest income $36,402
    Total noninterest income $6,360
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $449
    Trading account gains and fees $0
    Additional Noninterest Income $5,911
    Pre-tax net operating income $12,640
    Securities gains (or losses, -) $0
    Income before extraordinary items $10,664
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $10,664
    Minority interest net income $0
    Net income $10,664
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $10,664

    Washington Financial Bank's gross interest income from loans was $39,592,000.
    Washington Financial Bank's net interest income from loans was $36,402,000.
    Washington Financial Bank's fee based income from loans was $449,000.
    Washington Financial Bank's net income from loans was $10,664,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,190
    Provision for credit losses $675
    Total noninterest expense $29,447
    Salaries and employee benefits $17,365
    Premises and equipment expense $3,069
    Additional noninterest expense $9,013
    Applicable income taxes $1,976
    Net charge-offs $-63
    Cash dividends $87

    Washington Financial Bank's interest expense for loans was $3,190,000.
    Washington Financial Bank's payroll and benefits expense were $17,365,000.
    Washington Financial Bank's property, plant and equipment expenses $3,069,000.

    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 $1,400,627
    Deposits held in domestic offices $1,400,627
    Deposits by Individuals, partnerships, and corporations $980,114
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $420,013
    Deposits by Commercial banks and other depository institutions in U.S. $500
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $614,770
    Demand deposits $150,692
    Nontransaction accounts $785,857
    Money market deposit accounts (MMDAs) $464,465
    Other savings deposits (excluding MMDAs) $201,384
    Total time deposits $120,008
    Total time and savings deposits $1,249,935
    Noninterest-bearing deposits $239,773
    Interest-bearing deposits $1,160,854
    Retail deposits $1,381,192
    IRAs and Keogh plan accounts $35,031
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,576,440
    Cash & Balances due from depository institutions $150,277
    Interest-bearing balances $142,170
    Total securities $465,992
    Federal funds sold & reverse repurchase $0
    Net loans and leases $897,492
    Loan and leases loss allowance $10,325
    Trading account assets $0
    Bank premises and fixed assets $11,085
    Other real estate owned $718
    Goodwill and other intangibles $230
    All other assets $50,646

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,576,440
    Total Liabilities $1,405,033
    Total deposits $1,400,627
    Interest-bearing deposits $1,160,854
    Deposits held in domestic offices $1,400,627
    % insured (estimated) $84
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $4,406

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $897,492
    Loan and leases loss allowance $10,325
    Total loans and leases (domestic) $907,817
    All real estate loans $835,077
    Real estate loans in domestic offices $835,077
    Construction and development loans $108,742
    Residential 1-4 family construction $43,899
    Other construction, all land development and other land $64,843
    Loans secured by nonfarm nonresidential properties $239,401
    Nonfarm nonresidential secured by owner-occupied properties $46,452
    Commercial real estate & other non-farm, non-residential $192,949
    Multifamily residential real estate $81,716
    1-4 family residential loans $405,218
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $50,873
    To non-U.S. addressees $0
    Loans to individuals $3,597
    Credit card loans $0
    Related Plans $1,848
    Consumer Auto Loans $1,021
    Other loans to individuals $728
    All other loans & leases $18,270
    Loans to foreign governments and official institutions $0
    Other loans $15,747
    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 $491
    Non 1-4 family restructured loans & leases $431
    Total loans and leases (foreign) $0

    Washington Financial Bank had $897,492,000 of loans outstanding in 2021. $835,077,000 of loans were in real estate loans. $108,742,000 of loans were in development loans. $81,716,000 of loans were in multifamily mortgage loans. $405,218,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $1,021,000 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 226 $60,453 $267,491
    Nonfarm, nonresidential loans - <$100k 29 $961 $33,138
    Nonfarm, nonresidential loans - $100-250k 75 $9,673 $128,973
    Nonfarm, nonresidential loans - $250k-1MM 122 $49,819 $408,352
    Commercial & Industrial, US addressed loans - <$1MM 273 $21,961 $80,443
    Commercial & Industrial, US addressed loans - <$100k 105 $2,125 $20,238
    Commercial & Industrial, US addressed loans - $100-250k 59 $3,696 $62,644
    Commercial & Industrial, US addressed loans - $250k-1MM 109 $16,140 $148,073