Washington Financial Bank Mortgage Rates, Fees & Info
Washington, PALEI: 5493000M096YV1VLKD70
Tax ID: 25-0866405
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Mortgage Data
Review & Overview
Washington Financial Bank is a smaller bank specializing in Home Purchase loans. Washington Financial Bank has a high proportion of conventional loans. Their top markets by origination volume include: Pittsburgh, Somerset, New Castle, Youngstown, and Erie among others. We have data for 10 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 an above average pick rate when compared to similar lenders. Washington Financial Bank 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) | 5.08% | 12/16/24 |
| 30 Year Conventional Purchase | 6.20% | 12/16/24 |
| 30 Year Conventional Refi | 6.10% | 12/16/24 |
| 30 Year Cash-out Refi | 5.96% | 12/16/24 |
| 15 Year Conventional Purchase | 6.09% | 12/16/24 |
| 15 Year Conventional Refi | 5.51% | 12/16/24 |
| 15 Year Cash-out Refi | 5.51% | 12/16/24 |
| 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
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This is not an official calculator from Washington Financial Bank. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
538Origination Dollar Volume (All Markets)
$146,850,000Top 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) | 520 | $141,360,000 | $271,846 | $4,187 | 4.48% |
| Somerset, PA (FHA|USDA|VA) | 5 | $1,575,000 | $315,000 | $6,639 | 5.15% |
| New Castle, PA (FHA|USDA|VA) | 3 | $1,245,000 | $415,000 | $15,946 | 4.67% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 3 | $825,000 | $275,000 | $9,644 | 4.92% |
| Outside of Metro Areas | 2 | $600,000 | $300,000 | $4,237 | 5.06% |
| ERIE, PA (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $4,936 | 5.13% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,720 | 4.50% |
| Oil City, PA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $5,908 | 5.50% |
| HARRISONBURG, VA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,261 | 3.13% |
| WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,064 | 3.88% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 426 | $134,800,000 | $316,432 | $4,341 | 4.54% |
| HELOC | 112 | $12,050,000 | $107,589 | n/a | 4.34% |
For 2022, Washington Financial Bank's most frequently originated type of loan was Conventional, with 426 originations. Their 2nd most popular type was HELOC, with 112 originations.
Loan Reason
For 2022, Washington Financial Bank's most frequently cited loan purpose was Home Purchase, with 242 originations. The 2nd most popular reason was Refi, with 110 originations.
Loan Duration/Length
For 2022, Washington Financial Bank's most frequently cited loan duration was 30 Year, with 143 originations. The 2nd most popular length was Other, with 121 originations.
Origination Fees/Closing Costs
Washington Financial Bank's average total fees were $5,651, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 336 originations.
Interest Rates
During 2022, Washington Financial Bank's average interest rate for loans was 4.84%, while their most frequently originated rate bucket for loans was 3-4%, with 202 originations.
Loan Sizing
2022 saw Washington Financial Bank place emphasis on $100,000 or less loans with 204 originations, totaling $9,700,000 in origination value.
Applicant Income
Washington Financial Bank lent most frequently to those with incomes in the $150k-250k range, with 133 originations. The second most popular income band? $100k-150k, with 107 originations.
Applicant Debt to Income Ratio
Washington Financial Bank lent most frequently to those with DTI ratios of 20-30%, with 157 originations. The next most common DTI ratio? 30-36%, with 113 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.93%
Washington Financial Bank has an average approval rate.
Pick Rate
Approvals leading to origination90.15%
Washington Financial Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 538 | $146,850,000 | $272,955 |