1st Security Bank Of Washington Mortgage Rates, Fees & Info
Mountlake Terrace, WALEI: 5493003T5D4N1CM46J77
Tax ID: 91-0459933
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Mortgage Data
Review & Overview
1st Security Bank Of Washington is a smaller bank specializing in Home Purchase loans. 1st Security Bank Of Washington has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Seattle, Kennewick, Portland, Bremerton, and Ellensburg among others. We have data for 51 markets. (Some data included below & more in-depth data is available with an active subscription.)1st Security Bank Of Washington 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. 1st Security Bank Of Washington is typically a high 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.55% | 11/17/24 |
| 30 Year Conventional Refi | 6.54% | 11/17/24 |
| 30 Year Cash-out Refi | 6.72% | 11/17/24 |
| 30 Year FHA Purchase | 7.48% | 11/17/24 |
| 30 Year FHA Refi | 6.76% | 11/17/24 |
| 30 Year VA Purchase | 6.29% | 11/17/24 |
| 30 Year VA Refi | 6.27% | 11/17/24 |
| 15 Year Conventional Purchase | 5.85% | 11/17/24 |
| 15 Year Conventional Refi | 6.15% | 11/17/24 |
| 15 Year Cash-out Refi | 6.15% | 11/17/24 |
| 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. | ||
1st Security Bank Of Washington Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,194Origination Dollar Volume (All Markets)
$564,670,000Awards
1st Security Bank of Washington - 2023
1st Security Bank of Washington is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
1st Security Bank Of Washington's average 30 year fixed mortgage rate was
7.03%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.55%.
Relative Fees (Closing Costs)
1st Security Bank Of Washington's average total fees/closing costs for a 30 year fixed rate
mortgage were $12,851.
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 $9,089.
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) | 566 | $313,630,000 | $554,117 | $14,115 | 7.05% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 122 | $47,730,000 | $391,230 | $10,773 | 6.62% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 65 | $38,775,000 | $596,538 | $14,661 | 6.99% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 75 | $29,825,000 | $397,667 | $12,083 | 7.26% |
| Outside of Metro Areas | 58 | $15,000,000 | $258,621 | $9,005 | 7.95% |
| Ellensburg, WA (FHA|USDA|VA) | 26 | $13,050,000 | $501,923 | $10,848 | 6.75% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 28 | $10,620,000 | $379,286 | $12,028 | 7.69% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 16 | $8,750,000 | $546,875 | $13,262 | 6.52% |
| Aberdeen, WA (FHA|USDA|VA) | 35 | $8,055,000 | $230,143 | $9,155 | 8.23% |
| LONGVIEW, WA (FHA|USDA|VA) | 15 | $7,515,000 | $501,000 | $11,131 | 7.09% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 11 | $6,335,000 | $575,909 | $12,890 | 6.89% |
| Centralia, WA (FHA|USDA|VA) | 19 | $5,445,000 | $286,579 | $12,147 | 7.75% |
| BEND, OR (FHA|USDA|VA) | 7 | $4,905,000 | $700,714 | $12,873 | 7.39% |
| BOISE CITY, ID (FHA|USDA|VA) | 10 | $4,710,000 | $471,000 | $10,809 | 6.10% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 15 | $4,555,000 | $303,667 | $11,385 | 7.97% |
| Shelton, WA (FHA|USDA|VA) | 15 | $4,545,000 | $303,000 | $11,868 | 7.64% |
| Port Angeles, WA (FHA|USDA|VA) | 18 | $4,500,000 | $250,000 | $10,751 | 8.24% |
| WENATCHEE, WA (FHA|USDA|VA) | 10 | $4,300,000 | $430,000 | $10,171 | 6.73% |
| BELLINGHAM, WA (FHA|USDA|VA) | 8 | $3,720,000 | $465,000 | $11,578 | 7.19% |
| Sandpoint, ID (FHA|USDA|VA) | 5 | $2,775,000 | $555,000 | $17,324 | 7.30% |
| YAKIMA, WA (FHA|USDA|VA) | 5 | $2,165,000 | $433,000 | $12,263 | 7.25% |
| Outside of Metro Areas | 5 | $1,785,000 | $357,000 | $12,397 | 7.93% |
| Astoria, OR (FHA|USDA|VA) | 4 | $1,740,000 | $435,000 | $10,191 | 7.22% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $1,625,000 | $1,625,000 | $41,547 | 6.50% |
| Oak Harbor, WA (FHA|USDA|VA) | 3 | $1,585,000 | $528,333 | $15,035 | 7.46% |
| Newport, OR (FHA|USDA|VA) | 8 | $1,430,000 | $178,750 | $4,638 | 8.96% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 3 | $1,235,000 | $411,667 | $8,875 | 6.79% |
| EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) | 3 | $1,165,000 | $388,333 | $18,558 | 8.50% |
| Ontario, OR-ID (FHA|USDA|VA) | 4 | $1,110,000 | $277,500 | $10,890 | 8.06% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $995,000 | $995,000 | $8,975 | 6.25% |
| MEDFORD, OR (FHA|USDA|VA) | 2 | $960,000 | $480,000 | $13,340 | 6.88% |
| WALLA WALLA, WA (FHA|USDA|VA) | 4 | $920,000 | $230,000 | $5,874 | 6.97% |
| Prineville, OR (FHA|USDA|VA) | 3 | $865,000 | $288,333 | $15,512 | 8.29% |
| SALEM, OR (FHA|USDA|VA) | 3 | $755,000 | $251,667 | $8,975 | 8.50% |
| NAPA, CA (FHA|USDA|VA) | 1 | $715,000 | $715,000 | $14,773 | 6.00% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $665,000 | $665,000 | $11,095 | 6.88% |
| BOULDER, CO (FHA|USDA|VA) | 1 | $615,000 | $615,000 | $10,604 | 6.50% |
| ALBANY-LEBANON, OR (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $7,477 | 9.13% |
| IDAHO FALLS, ID (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $17,980 | 5.25% |
| Hailey, ID (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $0 | 9.50% |
| Klamath Falls, OR (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $15,104 | 8.19% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $9,694 | 6.00% |
| Roseburg, OR (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $10,133 | 8.13% |
| Kalispell, MT (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $7,455 | 7.63% |
| Hermiston-Pendleton, OR (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $4,598 | 6.50% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $16,206 | 6.50% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $10,710 | 6.63% |
| Moses Lake, WA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $12,542 | 6.63% |
| STOCKTON, CA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 7.13% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 6.63% |
| Coos Bay, OR (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $6,311 | 6.38% |
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Product Mix
For 2023, 1st Security Bank Of Washington's most frequently originated type of loan was Conventional, with 865 originations. Their 2nd most popular type was HELOC, with 143 originations.
Loan Reason
For 2023, 1st Security Bank Of Washington's most frequently cited loan purpose was Home Purchase, with 932 originations. The 2nd most popular reason was Home Improvement, with 82 originations.
Loan Duration/Length
For 2023, 1st Security Bank Of Washington's most frequently cited loan duration was 30 Year, with 950 originations. The 2nd most popular length was 30+ year, with 154 originations.
Origination Fees/Closing Costs
1st Security Bank Of Washington's average total fees were $12,851, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 628 originations.
Interest Rates
During 2023, 1st Security Bank Of Washington's average interest rate for loans was 7.03%, while their most frequently originated rate bucket for loans was 6-7%, with 469 originations.
Loan Sizing
2023 saw 1st Security Bank Of Washington place emphasis on $200k-400k loans with 371 originations, totaling $113,915,000 in origination value.
Applicant Income
1st Security Bank Of Washington lent most frequently to those with incomes in the $150k-250k range, with 380 originations. The second most popular income band? $100k-150k, with 290 originations.
Applicant Debt to Income Ratio
1st Security Bank Of Washington lent most frequently to those with DTI ratios of 30-36%, with 193 originations. The next most common DTI ratio? 20-30%, with 173 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.97%
1st Security Bank Of Washington has an average approval rate.
Pick Rate
Approvals leading to origination67.67%
1st Security Bank Of Washington has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,194 | $564,670,000 | $472,923 |