Spirit Of Alaska Mortgage Rates, Fees & Info
Fairbanks, AKLEI: 54930047C62INWFYCF40
Tax ID: 92-0028428
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Spirit Of Alaska is a smaller mortgage company specializing in Cash Out Refi and Home Purchase loans. Spirit Of Alaska has a high proportion of conventional loans. Their top markets by origination volume include: Fairbanks, Killeen, and Anchorage among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Spirit Of Alaska 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.
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Originations
39Origination Dollar Volume (All Markets)
$6,945,000Top 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 |
|---|---|---|---|---|---|
| FAIRBANKS, AK (FHA|USDA|VA) | 35 | $6,105,000 | $174,429 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $470,000 | $235,000 | $0 | 0.00% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| ANCHORAGE, AK (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 37 | $6,185,000 | $167,162 | $0 | 0.00% |
| VA | 2 | $760,000 | $380,000 | $0 | 0.00% |
For 2024, Spirit Of Alaska's most frequently originated type of loan was Conventional, with 37 originations. Their 2nd most popular type was VA, with 2 originations.
Loan Reason
For 2024, Spirit Of Alaska's most frequently cited loan purpose was Cash Out Refi, with 17 originations. The 2nd most popular reason was Home Purchase, with 9 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 39 | $6,945,000 | $178,077 | $0 | 0.00% |
For 2024, Spirit Of Alaska's most frequently cited loan duration was Other, with 39 originations.
Loan Sizing
2024 saw Spirit Of Alaska place emphasis on $100,000 or less loans with 15 originations, totaling $675,000 in origination value.
Applicant Income
Spirit Of Alaska lent most frequently to those with incomes in the $150k-250k range, with 9 originations. The second most popular income band? $50k-75k, with 7 originations.
Applicant Debt to Income Ratio
Spirit Of Alaska lent most frequently to those with DTI ratios of 30-36%, with 7 originations. The next most common DTI ratio? <20%, with 7 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications73.12%
Spirit Of Alaska has a below average approval rate.
Pick Rate
Approvals leading to origination53.85%
Spirit Of Alaska 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 |
|---|---|---|---|
| Exempt | 39 | $6,945,000 | $178,077 |