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, Bremerton, Portland, and Phoenix among others. We have data for 55 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 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 |
|---|---|---|
| 30 Year Conventional Purchase | 6.55% | 4/22/24 |
| 30 Year Conventional Refi | 6.54% | 4/22/24 |
| 30 Year Cash-out Refi | 6.72% | 4/22/24 |
| 30 Year FHA Purchase | 7.48% | 4/22/24 |
| 30 Year FHA Refi | 6.76% | 4/22/24 |
| 30 Year VA Purchase | 6.29% | 4/22/24 |
| 30 Year VA Refi | 6.27% | 4/22/24 |
| 15 Year Conventional Purchase | 5.85% | 4/22/24 |
| 15 Year Conventional Refi | 6.15% | 4/22/24 |
| 15 Year Cash-out Refi | 6.15% | 4/22/24 |
| 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
1,600Origination Dollar Volume (All Markets)
$852,970,000Awards
1st Security Bank of Washington - 2022
1st Security Bank of Washington is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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) | 803 | $516,835,000 | $643,630 | $12,302 | 4.76% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 248 | $96,050,000 | $387,298 | $7,522 | 4.60% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 81 | $35,695,000 | $440,679 | $10,563 | 5.17% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 55 | $28,015,000 | $509,364 | $12,557 | 5.46% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 33 | $22,485,000 | $681,364 | $8,622 | 4.91% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 41 | $18,615,000 | $454,024 | $10,572 | 5.13% |
| Outside of Metro Areas | 50 | $16,730,000 | $334,600 | $9,148 | 5.32% |
| Ellensburg, WA (FHA|USDA|VA) | 9 | $10,725,000 | $1,191,667 | $21,558 | 4.60% |
| Aberdeen, WA (FHA|USDA|VA) | 38 | $9,530,000 | $250,789 | $7,060 | 4.65% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 4 | $9,470,000 | $2,367,500 | $26,738 | 4.69% |
| Shelton, WA (FHA|USDA|VA) | 26 | $8,350,000 | $321,154 | $8,058 | 5.13% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 21 | $8,215,000 | $391,190 | $8,640 | 5.24% |
| Oak Harbor, WA (FHA|USDA|VA) | 13 | $6,115,000 | $470,385 | $12,690 | 5.48% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 17 | $5,635,000 | $331,471 | $8,773 | 5.75% |
| WENATCHEE, WA (FHA|USDA|VA) | 14 | $5,120,000 | $365,714 | $9,686 | 5.27% |
| Centralia, WA (FHA|USDA|VA) | 14 | $4,560,000 | $325,714 | $8,805 | 5.64% |
| LONGVIEW, WA (FHA|USDA|VA) | 8 | $4,380,000 | $547,500 | $12,076 | 5.27% |
| BELLINGHAM, WA (FHA|USDA|VA) | 11 | $3,885,000 | $353,182 | $8,745 | 5.57% |
| Port Angeles, WA (FHA|USDA|VA) | 10 | $3,710,000 | $371,000 | $8,450 | 5.44% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 6 | $3,670,000 | $611,667 | $13,123 | 4.25% |
| Outside of Metro Areas | 8 | $3,150,000 | $393,750 | $9,077 | 5.70% |
| SALEM, OR (FHA|USDA|VA) | 9 | $2,675,000 | $297,222 | $12,240 | 6.83% |
| NAPA, CA (FHA|USDA|VA) | 1 | $2,585,000 | $2,585,000 | $34,287 | 4.50% |
| Newport, OR (FHA|USDA|VA) | 8 | $2,380,000 | $297,500 | $12,975 | 6.44% |
| BOISE CITY, ID (FHA|USDA|VA) | 6 | $2,180,000 | $363,333 | $11,169 | 6.00% |
| Sandpoint, ID (FHA|USDA|VA) | 5 | $2,035,000 | $407,000 | $11,231 | 6.08% |
| ALBANY-LEBANON, OR (FHA|USDA|VA) | 6 | $1,890,000 | $315,000 | $18,312 | 5.88% |
| BEND, OR (FHA|USDA|VA) | 3 | $1,815,000 | $605,000 | $16,113 | 4.67% |
| TUCSON, AZ (FHA|USDA|VA) | 3 | $1,445,000 | $481,667 | $9,199 | 5.17% |
| Moses Lake, WA (FHA|USDA|VA) | 6 | $1,310,000 | $218,333 | $6,056 | 4.56% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $1,125,000 | $1,125,000 | $0 | 4.88% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 2 | $1,030,000 | $515,000 | $5,197 | 2.88% |
| Hermiston-Pendleton, OR (FHA|USDA|VA) | 3 | $955,000 | $318,333 | $8,317 | 6.17% |
| Coos Bay, OR (FHA|USDA|VA) | 3 | $925,000 | $308,333 | $17,363 | 6.42% |
| WALLA WALLA, WA (FHA|USDA|VA) | 4 | $870,000 | $217,500 | $5,786 | 4.44% |
| IDAHO FALLS, ID (FHA|USDA|VA) | 2 | $860,000 | $430,000 | $9,737 | 6.06% |
| Astoria, OR (FHA|USDA|VA) | 2 | $830,000 | $415,000 | $8,759 | 4.44% |
| CORVALLIS, OR (FHA|USDA|VA) | 2 | $730,000 | $365,000 | $16,071 | 7.00% |
| EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) | 3 | $635,000 | $211,667 | $6,884 | 4.08% |
| YAKIMA, WA (FHA|USDA|VA) | 2 | $630,000 | $315,000 | $8,323 | 4.94% |
| Bozeman, MT (FHA|USDA|VA) | 1 | $625,000 | $625,000 | $8,368 | 6.63% |
| SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $5,873 | 4.25% |
| Kalispell, MT (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $4,866 | 3.56% |
| Moscow, ID (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $20,540 | 8.13% |
| Pullman, WA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $6,223 | 3.63% |
| GREAT FALLS, MT (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $6,205 | 4.88% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 6.25% |
| Hood River, OR (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 4.00% |
| Othello, WA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $14,828 | 5.75% |
| Helena, MT (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $4,748 | 3.50% |
| The Dalles, OR (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $7,330 | 5.00% |
| La Grande, OR (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $10,826 | 3.13% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 5.63% |
| Klamath Falls, OR (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $9,054 | 6.63% |
| Roseburg, OR (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 6.63% |
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Product Mix
For 2022, 1st Security Bank Of Washington's most frequently originated type of loan was Conventional, with 1,416 originations. Their 2nd most popular type was FHA, with 114 originations.
Loan Reason
For 2022, 1st Security Bank Of Washington's most frequently cited loan purpose was Home Purchase, with 1,249 originations. The 2nd most popular reason was Cash Out Refi, with 195 originations.
Loan Duration/Length
For 2022, 1st Security Bank Of Washington's most frequently cited loan duration was 30 Year, with 1,345 originations. The 2nd most popular length was 30+ year, with 160 originations.
Origination Fees/Closing Costs
1st Security Bank Of Washington's average total fees were $10,540, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 785 originations.
Interest Rates
During 2022, 1st Security Bank Of Washington's average interest rate for loans was 4.74%, while their most frequently originated rate bucket for loans was 4-5%, with 455 originations.
Loan Sizing
2022 saw 1st Security Bank Of Washington place emphasis on $200k-400k loans with 562 originations, totaling $173,210,000 in origination value.
Applicant Income
1st Security Bank Of Washington lent most frequently to those with incomes in the $100k-150k range, with 431 originations. The second most popular income band? $150k-250k, with 412 originations.
Applicant Debt to Income Ratio
1st Security Bank Of Washington lent most frequently to those with DTI ratios of 30-36%, with 293 originations. The next most common DTI ratio? 20-30%, with 264 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.13%
1st Security Bank Of Washington has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination72.31%
1st Security Bank Of Washington has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,600 | $852,970,000 | $533,106 |