Bank Of Washington Mortgage Rates, Fees & Info

Washington, MO

LEI: 54930044G6TGPFFTFM49

Tax ID: 43-0170340

5 stars - Updated: 12/6/24 - out of 5 stars, based on 13 reviews

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

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Mortgage Data

Review & Overview

Bank Of Washington is a smaller bank specializing in Home Purchase and Refi loans. Bank Of Washington has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: St. Louis, Edwards, Charleston, Bend, and Jacksonville among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

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. Bank Of Washington 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 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 6.22% 12/6/24
30 Year Conventional Refi 6.31% 12/6/24
30 Year Cash-out Refi 6.16% 12/6/24
30 Year USDA Purchase 6.23% 12/6/24
15 Year Conventional Purchase 5.71% 12/6/24
15 Year Conventional Refi 5.83% 12/6/24
15 Year Cash-out Refi 5.83% 12/6/24
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.

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 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

175

Origination Dollar Volume (All Markets)

$53,065,000

Awards

Bank of Washington 30 Year Conventional Loans bronze Bank of Washington 30 Year Conventional Loans silver
Show all (2) awards

Relative Rate

Bank Of Washington's average 30 year fixed mortgage rate was 6.65%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.17%.

Relative Fees (Closing Costs)

Bank Of Washington's average total fees/closing costs for a 30 year fixed rate mortgage were $3,291.

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
ST. LOUIS, MO-IL (FHA|USDA|VA) 153 $42,645,000 $278,725 $2,892 6.92%
Edwards, CO (FHA|USDA|VA) 3 $3,535,000 $1,178,333 $8,729 7.25%
Outside of Metro Areas 9 $2,185,000 $242,778 $2,646 6.67%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 2 $990,000 $495,000 $3,124 7.25%
BEND, OR (FHA|USDA|VA) 1 $855,000 $855,000 $4,671 6.90%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $605,000 $605,000 $4,310 9.00%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $545,000 $545,000 $0 7.50%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $525,000 $525,000 $2,620 6.90%
Branson, MO (FHA|USDA|VA) 1 $465,000 $465,000 $0 6.90%
KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $255,000 $255,000 $2,290 6.88%
Rolla, MO (FHA|USDA|VA) 1 $235,000 $235,000 $3,804 6.50%
COLUMBIA, MO (FHA|USDA|VA) 1 $225,000 $225,000 $1,991 6.50%
Bank Of Washington's top markets include St. Louis, Edwards, Charleston, Bend, and Jacksonville among others.

Their top states include:
  • Missouri (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Oregon (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 165 $51,005,000 $309,121 $2,846 6.96%
    USDA 10 $2,060,000 $206,000 $5,394 6.35%

    For 2023, Bank Of Washington's most frequently originated type of loan was Conventional, with 165 originations. Their 2nd most popular type was USDA, with 10 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 130 $38,320,000 $294,769 $3,286 6.90%
    Refi 25 $12,155,000 $486,200 $2,508 6.98%
    Other 11 $1,705,000 $155,000 $1,890 7.55%
    Cash Out Refi 5 $555,000 $111,000 $2,155 6.13%
    Home Improvement 4 $330,000 $82,500 $2,085 6.78%

    For 2023, Bank Of Washington's most frequently cited loan purpose was Home Purchase, with 130 originations. The 2nd most popular reason was Refi, with 25 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 110 $34,930,000 $317,545 $3,291 6.65%
    1 Year 15 $4,765,000 $317,667 $1,697 8.33%
    Other 15 $3,415,000 $227,667 $2,620 7.66%
    3 Year 12 $5,090,000 $424,167 $0 7.58%
    15 Year 10 $2,000,000 $200,000 $2,428 6.28%
    20 Year 8 $1,500,000 $187,500 $2,499 6.63%
    5 Year 3 $1,195,000 $398,333 $0 7.22%
    10 Year 2 $170,000 $85,000 $1,805 6.00%

    For 2023, Bank Of Washington's most frequently cited loan duration was 30 Year, with 110 originations. The 2nd most popular length was 1 Year, with 15 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 126 $36,100,000 $286,508
    $1k-2k 15 $2,475,000 $165,000
    $5k+ 3 $3,925,000 $1,308,333
    $2k-3k 2 $510,000 $255,000
    $3k-4k 2 $610,000 $305,000

    Bank Of Washington's average total fees were $3,291, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 126 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 74 $26,380,000 $356,486
    7-8% 52 $13,070,000 $251,346
    5-6% 28 $5,110,000 $182,500
    Over 8% 20 $7,640,000 $382,000
    4-5% 1 $865,000 $865,000

    During 2023, Bank Of Washington's average interest rate for loans was 6.65%, while their most frequently originated rate bucket for loans was 6-7%, with 74 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 72 $18,640,000 $258,889 $2,949 6.83%
    $100k-200k 43 $6,575,000 $152,907 $2,713 6.86%
    $100,000 or less 27 $1,685,000 $62,407 $2,002 7.05%
    $400k-600k 18 $8,650,000 $480,556 $3,241 6.88%
    $600k-1MM 11 $8,325,000 $756,818 $5,253 7.49%
    $1MM+ 4 $9,190,000 $2,297,500 $9,440 7.23%

    2023 saw Bank Of Washington place emphasis on $200k-400k loans with 72 originations, totaling $18,640,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 44 $10,540,000 $239,545 $2,453 7.00%
    $250k+ 28 $17,250,000 $616,071 $3,932 6.83%
    $75k-100k 24 $4,790,000 $199,583 $3,340 6.88%
    $150k-250k 22 $6,900,000 $313,636 $3,029 7.09%
    $50k-75k 21 $3,525,000 $167,857 $3,062 6.81%
    $50k or less 14 $1,430,000 $102,143 $2,568 6.48%

    Bank Of Washington lent most frequently to those with incomes in the $100k-150k range, with 44 originations. The second most popular income band? $250k+, with 28 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 38 $9,940,000 $261,579 $2,960 6.74%
    30-36% 29 $6,795,000 $234,310 $2,897 6.80%
    <20% 28 $10,550,000 $376,786 $2,678 6.82%
    38% 9 $2,555,000 $283,889 $3,481 6.99%
    37% 8 $1,540,000 $192,500 $2,281 7.23%
    39% 7 $1,325,000 $189,286 $3,196 7.00%
    44% 7 $1,505,000 $215,000 $2,092 7.20%
    36% 6 $1,110,000 $185,000 $3,304 7.21%
    41% 5 $2,255,000 $451,000 $5,473 6.58%
    42% 4 $2,280,000 $570,000 $4,192 6.72%
    43% 4 $800,000 $200,000 $2,966 6.76%
    40% 4 $1,040,000 $260,000 $3,617 5.93%
    46% 4 $1,320,000 $330,000 $2,961 6.97%
    47% 1 $485,000 $485,000 $5,928 6.50%
    49% 1 $225,000 $225,000 $2,949 6.50%
    50-60% 1 $865,000 $865,000 $3,360 7.25%
    >60% 1 $475,000 $475,000 $2,553 8.25%

    Bank Of Washington lent most frequently to those with DTI ratios of 20-30%, with 38 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 $41,335,000 $289,056 $3,014 6.86%
    Not applicable 17 $7,875,000 $463,235 $0 7.55%
    Not provided 8 $2,120,000 $265,000 $3,075 6.80%
    Asian 3 $825,000 $275,000 $3,112 6.92%
    American Indian 2 $550,000 $275,000 $2,546 6.88%
    Black 2 $360,000 $180,000 $3,201 6.63%

    Approval Rates

    Total approvals of all applications
    95.45%

    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 origination
    80.57%

    Bank Of Washington has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 175 $53,065,000 $303,229

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    175 $53,065,000 $303,229

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 19 $5,395,000 $283,947 $3,440 6.85%
    40-60% 31 $8,675,000 $279,839 $2,545 6.90%
    60-80% 53 $17,185,000 $324,245 $2,826 7.05%
    80-100% 59 $20,395,000 $345,678 $3,537 6.74%
    Over 100% 1 $175,000 $175,000 $0 8.00%
    Under 20% 12 $1,240,000 $103,333 $1,875 7.39%