1st Security Bank Of Washington Mortgage Rates, Fees & Info

Mountlake Terrace, WA

LEI: 5493003T5D4N1CM46J77

Tax ID: 91-0459933

1 stars - Updated: 5/20/24 - out of 5 stars, based on 35 reviews

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

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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.

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
30 Year Conventional Purchase 6.55% 5/20/24
30 Year Conventional Refi 6.54% 5/20/24
30 Year Cash-out Refi 6.72% 5/20/24
30 Year FHA Purchase 7.48% 5/20/24
30 Year FHA Refi 6.76% 5/20/24
30 Year VA Purchase 6.29% 5/20/24
30 Year VA Refi 6.27% 5/20/24
15 Year Conventional Purchase 5.85% 5/20/24
15 Year Conventional Refi 6.15% 5/20/24
15 Year Cash-out Refi 6.15% 5/20/24
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






Your Estimates

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

This is not an official calculator from 1st Security Bank Of Washington. 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

1,194

Origination Dollar Volume (All Markets)

$564,670,000

Awards

1st Security Bank of Washington FHA Loans bronze 1st Security Bank of Washington VA Loans bronze
Show all (2) awards

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%
1st Security Bank Of Washington's top markets include Seattle, Kennewick, Portland, Bremerton, and Ellensburg among others.

Their top states include:
  • Washington (FHA|USDA|VA)
  • Oregon (FHA|USDA|VA)
  • Idaho (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against 1st Security Bank of Washington based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Cashmere Valley Bank
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    WHATCOM EDUCATIONAL CREDIT UNION
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 865 $446,935,000 $516,688 $11,256 6.94%
    HELOC 143 $21,735,000 $151,993 n/a 9.55%
    FHA 130 $63,660,000 $489,692 $20,269 6.58%
    VA 56 $32,340,000 $577,500 $16,592 6.07%

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 932 $493,820,000 $529,850 $13,222 6.80%
    Home Improvement 82 $11,070,000 $135,000 $4,637 9.48%
    Other 65 $10,265,000 $157,923 $5,269 9.18%
    Cash Out Refi 59 $19,145,000 $324,492 $11,746 7.67%
    Refi 56 $30,370,000 $542,321 $8,305 7.10%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 950 $448,180,000 $471,768 $12,851 7.03%
    30+ year 154 $78,320,000 $508,571 $15,116 7.96%
    10 Year 30 $17,020,000 $567,333 $4,855 7.57%
    15 Year 30 $9,790,000 $326,333 $7,322 5.83%
    Other 21 $6,705,000 $319,286 $4,192 9.21%
    20 Year 6 $690,000 $115,000 $4,316 6.77%
    5 Year 2 $2,730,000 $1,365,000 $0 6.93%
    1 Year 1 $1,235,000 $1,235,000 $0 9.25%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 628 $372,800,000 $593,631
    $4k-5k 107 $38,515,000 $359,953
    $1k-2k 86 $42,250,000 $491,279
    $3k-4k 69 $22,365,000 $324,130
    $2k-3k 61 $17,945,000 $294,180
    $<1k 4 $1,280,000 $320,000

    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

    Loan Rate Originations Total Value Average Loan
    6-7% 469 $260,435,000 $555,299
    7-8% 260 $137,580,000 $529,154
    Over 8% 259 $61,385,000 $237,008
    5-6% 184 $95,010,000 $516,359
    4-5% 21 $9,985,000 $475,476
    <2.5% 1 $275,000 $275,000

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 371 $113,915,000 $307,049 $9,701 7.22%
    $400k-600k 331 $162,525,000 $491,012 $13,219 6.72%
    $600k-1MM 258 $186,640,000 $723,411 $16,317 6.62%
    $100k-200k 113 $16,245,000 $143,761 $5,635 8.30%
    $100,000 or less 67 $3,715,000 $55,448 $3,639 9.58%
    $1MM+ 54 $81,630,000 $1,511,667 $22,050 6.81%

    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

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 380 $196,180,000 $516,263 $13,699 7.00%
    $100k-150k 290 $107,890,000 $372,034 $12,018 7.18%
    $250k+ 238 $174,040,000 $731,261 $15,831 7.10%
    $75k-100k 132 $36,000,000 $272,727 $10,439 7.42%
    $50k-75k 85 $18,565,000 $218,412 $8,572 7.51%
    $50k or less 22 $3,010,000 $136,818 $6,878 7.26%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 193 $80,035,000 $414,689 $11,571 7.27%
    20-30% 173 $73,435,000 $424,480 $10,703 7.00%
    42% 64 $34,840,000 $544,375 $14,244 7.45%
    41% 61 $35,315,000 $578,934 $14,537 7.16%
    43% 60 $32,670,000 $544,500 $16,077 7.22%
    44% 59 $29,515,000 $500,254 $13,745 7.20%
    49% 57 $24,095,000 $422,719 $12,485 7.36%
    40% 53 $29,865,000 $563,491 $13,545 7.36%
    38% 51 $23,525,000 $461,275 $12,969 6.99%
    37% 49 $22,065,000 $450,306 $11,251 7.24%
    39% 48 $22,240,000 $463,333 $12,662 7.39%
    <20% 46 $16,550,000 $359,783 $8,468 6.99%
    47% 44 $18,890,000 $429,318 $11,781 7.26%
    45% 43 $21,535,000 $500,814 $15,378 7.37%
    50-60% 43 $23,165,000 $538,721 $18,231 6.32%
    48% 42 $18,180,000 $432,857 $13,699 7.03%
    46% 41 $18,595,000 $453,537 $12,078 6.98%
    36% 34 $15,330,000 $450,882 $12,043 7.04%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 797 $349,135,000 $438,061 $12,228 7.31%
    Not provided 221 $109,385,000 $494,955 $13,358 6.87%
    Asian 96 $60,490,000 $630,104 $15,019 6.60%
    Not applicable 28 $22,170,000 $791,786 $0 7.54%
    Black 30 $15,590,000 $519,667 $15,348 6.67%
    American Indian 12 $3,800,000 $316,667 $12,691 8.22%
    Asian Indian 3 $1,575,000 $525,000 $19,833 8.13%
    Native Hawaiian or Islander 4 $1,470,000 $367,500 $12,732 8.09%
    Chinese 2 $690,000 $345,000 $9,165 5.56%
    Vietnamese 1 $365,000 $365,000 $8,054 5.00%

    Approval Rates

    Total approvals of all applications
    91.97%

    1st Security Bank Of Washington has an average approval rate.

    Pick Rate

    Approvals leading to origination
    67.67%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,194 $564,670,000 $472,923

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 102 $25,670,000 $251,667 $7,241 7.84%
    40-60% 147 $66,695,000 $453,707 $9,802 7.02%
    60-80% 373 $208,885,000 $560,013 $12,707 7.07%
    80-100% 434 $242,460,000 $558,664 $14,558 6.60%
    Over 100% 13 $7,445,000 $572,692 $26,589 6.22%
    Under 20% 125 $13,515,000 $108,120 $4,201 9.18%