Spokane Firefighters Credit Union Mortgage Rates, Fees & Info

Spokane, WA

LEI: 5493000OOREHUZON5E13

Tax ID: 91-0419072

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
  • 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

    Spokane Firefighters Credit Union is a smaller credit union specializing in Refi and Cash Out Refi loans. Spokane Firefighters Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Spokane, Sandpoint, Portland, Seattle, and Shelton among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Spokane Firefighters Credit Union 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. Spokane Firefighters 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.

    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) 6.10% 5/4/24
    30 Year Conventional Purchase 6.87% 5/4/24
    30 Year Cash-out Refi 6.27% 5/4/24
    15 Year Conventional Purchase 5.40% 5/4/24
    15 Year Conventional Refi 6.21% 5/4/24
    15 Year Cash-out Refi 6.21% 5/4/24
    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.

    Spokane Firefighters Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Spokane Firefighters 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

    152

    Origination Dollar Volume (All Markets)

    $32,820,000

    Awards

    SPOKANE FIREFIGHTERS CREDIT UNION 30 Year Conventional Loans silver SPOKANE FIREFIGHTERS CREDIT UNION 30 Year Conventional Loans silver
    Show all (2) 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
    SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 129 $27,925,000 $216,473 $2,191 2.85%
    Outside of Metro Areas 11 $1,835,000 $166,818 $2,332 2.91%
    Sandpoint, ID (FHA|USDA|VA) 6 $1,340,000 $223,333 $2,540 3.71%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 2 $740,000 $370,000 $3,478 3.50%
    Outside of Metro Areas 2 $400,000 $200,000 $2,881 2.94%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 1 $385,000 $385,000 $2,673 3.00%
    Shelton, WA (FHA|USDA|VA) 1 $195,000 $195,000 $987 2.00%
    Spokane Firefighters Credit Union's top markets include Spokane, Sandpoint, Portland, Seattle, and Shelton among others.

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

    • Similar Lenders

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

    SPOKANE FIREFIGHTERS CREDIT UNION
    Similarity Rank: 231
    Columbia State Bank
    Similarity Rank: 1065
    Potlatch No. 1 Financial Credit Union
    Similarity Rank: 1232
    Solarity Credit Union
    Similarity Rank: 2678
    SPOKANE TEACHERS
    Similarity Rank: 2706
    SAMMAMISH MORTGAGE COMPANY
    Similarity Rank: 2800
    1st Security Bank of Washington
    Similarity Rank: 2907
    MID AMERICA MORTGAGE, INC.
    Similarity Rank: 2920
    IDAHO CENTRAL
    Similarity Rank: 3555
    GLOBAL
    Similarity Rank: 3627

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 134 $31,260,000 $233,284 $2,227 2.72%
    HELOC 18 $1,560,000 $86,667 n/a 4.17%

    For 2020, Spokane Firefighters Credit Union's most frequently originated type of loan was Conventional, with 134 originations. Their 2nd most popular type was HELOC, with 18 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 63 $13,745,000 $218,175 $2,156 2.58%
    Cash Out Refi 42 $11,290,000 $268,810 $2,275 2.64%
    Home Purchase 25 $6,145,000 $245,800 $2,603 2.88%
    Home Improvement 12 $840,000 $70,000 $1,385 4.18%
    Other 10 $800,000 $80,000 $952 4.36%

    For 2020, Spokane Firefighters Credit Union's most frequently cited loan purpose was Refi, with 63 originations. The 2nd most popular reason was Cash Out Refi, with 42 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 62 $13,940,000 $224,839 $3,164 3.43%
    10 Year 51 $10,305,000 $202,059 $1,207 2.28%
    15 Year 27 $6,105,000 $226,111 $2,430 3.01%
    20 Year 8 $2,170,000 $271,250 $3,181 2.77%
    5 Year 4 $300,000 $75,000 $1,050 1.75%

    For 2020, Spokane Firefighters Credit Union's most frequently cited loan duration was 30 Year, with 62 originations. The 2nd most popular length was 10 Year, with 51 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 67 $18,195,000 $271,567
    $<1k 65 $12,975,000 $199,615

    Spokane Firefighters Credit Union's average total fees were $3,164, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 67 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 62 $12,900,000 $208,065
    2.5-3% 40 $11,250,000 $281,250
    3-4% 39 $7,375,000 $189,103
    4-5% 8 $1,080,000 $135,000
    5-6% 2 $110,000 $55,000
    6-7% 1 $105,000 $105,000

    During 2020, Spokane Firefighters Credit Union's average interest rate for loans was 3.43%, while their most frequently originated rate bucket for loans was <2.5%, with 62 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 80 $21,630,000 $270,375 $2,476 2.68%
    $100k-200k 36 $5,410,000 $150,278 $1,864 2.91%
    $100,000 or less 27 $1,715,000 $63,519 $1,047 3.50%
    $400k-600k 9 $4,065,000 $451,667 $2,998 2.85%

    2020 saw Spokane Firefighters Credit Union place emphasis on $200k-400k loans with 80 originations, totaling $21,630,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 46 $9,770,000 $212,391 $2,208 3.11%
    $150k-250k 38 $9,360,000 $246,316 $1,916 2.62%
    $75k-100k 38 $7,760,000 $204,211 $2,453 2.94%
    $50k-75k 16 $3,430,000 $214,375 $2,663 2.74%
    $250k+ 9 $1,895,000 $210,556 $1,671 2.72%
    $50k or less 5 $605,000 $121,000 $2,345 3.35%

    Spokane Firefighters Credit Union lent most frequently to those with incomes in the $100k-150k range, with 46 originations. The second most popular income band? $150k-250k, with 38 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 46 $9,230,000 $200,652 $2,213 2.73%
    30-36% 29 $5,995,000 $206,724 $2,289 2.88%
    <20% 26 $5,310,000 $204,231 $1,625 2.41%
    38% 7 $2,175,000 $310,714 $2,812 3.36%
    40% 7 $1,565,000 $223,571 $2,623 3.29%
    41% 5 $1,035,000 $207,000 $1,609 2.55%
    37% 5 $1,225,000 $245,000 $2,594 3.83%
    42% 5 $1,415,000 $283,000 $2,544 3.58%
    36% 3 $895,000 $298,333 $3,269 2.58%
    49% 3 $495,000 $165,000 $2,142 3.29%
    44% 3 $805,000 $268,333 $3,128 3.17%
    45% 3 $665,000 $221,667 $1,968 3.21%
    39% 2 $450,000 $225,000 $1,867 4.06%
    46% 2 $570,000 $285,000 $2,958 2.94%
    47% 2 $420,000 $210,000 $3,399 3.56%
    43% 2 $350,000 $175,000 $2,538 3.19%
    48% 2 $220,000 $110,000 $1,071 3.38%

    Spokane Firefighters Credit Union lent most frequently to those with DTI ratios of 20-30%, with 46 originations. The next most common DTI ratio? 30-36%, with 29 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 143 $31,465,000 $220,035 $2,242 2.85%
    Not provided 7 $785,000 $112,143 $897 3.75%
    Asian 1 $305,000 $305,000 $3,332 3.00%
    Native Hawaiian or Islander 1 $265,000 $265,000 $4,503 3.00%

    Approval Rates

    Total approvals of all applications
    97.92%

    Spokane Firefighters Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    76.97%

    Spokane Firefighters Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 152 $32,820,000 $215,921

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 4 $760,000 $190,000
    Single Family (1-4 Units):Site-Built 148 $32,060,000 $216,622

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 24 $2,770,000 $115,417 $1,116 3.10%
    40-60% 35 $7,395,000 $211,286 $2,017 2.57%
    60-80% 57 $15,385,000 $269,912 $2,467 2.76%
    80-100% 22 $6,250,000 $284,091 $2,930 2.83%
    Under 20% 13 $645,000 $49,615 $1,023 4.04%