Selco Community Mortgage Rates, Fees & Info
Eugene, ORLEI: 5493003WLEYGXGNTI654
Tax ID: 93-0163693
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Mortgage Data
Review & Overview
Selco Community is a smaller mortgage company specializing in Home Improvement, Other, and Home Purchase loans. Selco Community has a high proportion of conventional loans. Their top markets by origination volume include: Eugene, Bend, Salem, Portland, and Albany among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)Selco Community has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Selco Community 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 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.09% | 11/17/24 |
| 30 Year Conventional Purchase | 5.56% | 11/17/24 |
| 30 Year Conventional Refi | 6.01% | 11/17/24 |
| 30 Year Cash-out Refi | 6.27% | 11/17/24 |
| 15 Year Conventional Purchase | 5.40% | 11/17/24 |
| 15 Year Conventional Refi | 5.84% | 11/17/24 |
| 15 Year Cash-out Refi | 5.84% | 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. | ||
Selco Community Mortgage Calculator
Your Estimates
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This is not an official calculator from Selco Community. 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
1,445Origination Dollar Volume (All Markets)
$172,855,000Awards
SELCO COMMUNITY - 2023
SELCO COMMUNITY is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Selco Community's average 30 year fixed mortgage rate was
7.83%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 1.35%.
Relative Fees (Closing Costs)
Selco Community's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,079.
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 |
|---|---|---|---|---|---|
| EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) | 773 | $86,925,000 | $112,451 | $5,093 | 7.80% |
| BEND, OR (FHA|USDA|VA) | 359 | $44,755,000 | $124,666 | $4,839 | 7.74% |
| SALEM, OR (FHA|USDA|VA) | 84 | $14,280,000 | $170,000 | $7,998 | 7.90% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 81 | $11,335,000 | $139,938 | $6,726 | 7.68% |
| ALBANY-LEBANON, OR (FHA|USDA|VA) | 64 | $6,010,000 | $93,906 | $5,114 | 7.97% |
| Prineville, OR (FHA|USDA|VA) | 20 | $2,760,000 | $138,000 | $4,896 | 7.48% |
| CORVALLIS, OR (FHA|USDA|VA) | 15 | $2,185,000 | $145,667 | $0 | 7.55% |
| Outside of Metro Areas | 19 | $1,565,000 | $82,368 | $4,573 | 8.07% |
| Roseburg, OR (FHA|USDA|VA) | 9 | $715,000 | $79,444 | $5,821 | 7.90% |
| LONGVIEW, WA (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $0 | 6.00% |
| Coos Bay, OR (FHA|USDA|VA) | 4 | $440,000 | $110,000 | $0 | 7.75% |
| Klamath Falls, OR (FHA|USDA|VA) | 3 | $285,000 | $95,000 | $0 | 8.33% |
| Newport, OR (FHA|USDA|VA) | 4 | $260,000 | $65,000 | $0 | 8.13% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $0 | 8.13% |
| MEDFORD, OR (FHA|USDA|VA) | 3 | $215,000 | $71,667 | $2,978 | 7.04% |
| GRANTS PASS, OR (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 8.00% |
| The Dalles, OR (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 7.50% |
| Astoria, OR (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 8.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against SELCO COMMUNITY based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 198
Similarity Rank: 238
Similarity Rank: 295
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Similarity Rank: 776
Similarity Rank: 988
Similarity Rank: 1281
Similarity Rank: 1288
Similarity Rank: 1834
Similarity Rank: 1914
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 1,252 | $91,460,000 | $73,051 | n/a | 8.04% |
| Conventional | 193 | $81,395,000 | $421,736 | $5,140 | 6.14% |
For 2023, Selco Community's most frequently originated type of loan was HELOC, with 1,252 originations. Their 2nd most popular type was Conventional, with 193 originations.
Loan Reason
For 2023, Selco Community's most frequently cited loan purpose was Home Improvement, with 621 originations. The 2nd most popular reason was Other, with 559 originations.
Loan Duration/Length
For 2023, Selco Community's most frequently cited loan duration was 30 Year, with 1,413 originations. The 2nd most popular length was 10 Year, with 19 originations.
Origination Fees/Closing Costs
Selco Community's average total fees were $5,079, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 92 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 704 | $55,900,000 | $79,403 |
| Over 8% | 546 | $38,220,000 | $70,000 |
| 5-6% | 106 | $44,170,000 | $416,698 |
| 6-7% | 88 | $34,310,000 | $389,886 |
| 4-5% | 1 | $255,000 | $255,000 |
During 2023, Selco Community's average interest rate for loans was 7.83%, while their most frequently originated rate bucket for loans was 7-8%, with 704 originations.
Loan Sizing
2023 saw Selco Community place emphasis on $100,000 or less loans with 964 originations, totaling $52,070,000 in origination value.
Applicant Income
Selco Community lent most frequently to those with incomes in the $100k-150k range, with 450 originations. The second most popular income band? $150k-250k, with 326 originations.
Applicant Debt to Income Ratio
Selco Community lent most frequently to those with DTI ratios of 20-30%, with 314 originations. The next most common DTI ratio? 30-36%, with 295 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications73.61%
Selco Community has a below average approval rate.
Pick Rate
Approvals leading to origination77.23%
Selco Community has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 5 | $1,015,000 | $203,000 |
| NA | 1,440 | $171,840,000 | $119,333 |