Spirit Of Alaska Mortgage Rates, Fees & Info
Fairbanks, AKLEI: 54930047C62INWFYCF40
Tax ID: 92-0028428
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Mortgage Data
Review & Overview
Spirit Of Alaska is a smaller mortgage company specializing in Refi and Home Purchase loans. Spirit Of Alaska has a high proportion of conventional loans. Their top two markets are Fairbanks and Boise City .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
83Origination Dollar Volume (All Markets)
$16,475,000Top 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) | 77 | $15,175,000 | $197,078 | $0 | 0.00% |
| Outside of Metro Areas | 5 | $995,000 | $199,000 | $0 | 0.00% |
| BOISE CITY, ID (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 82 | $16,080,000 | $196,098 | $0 | 0.00% |
| VA | 1 | $395,000 | $395,000 | $0 | 0.00% |
For 2020, Spirit Of Alaska's most frequently originated type of loan was Conventional, with 82 originations. Their 2nd most popular type was VA, with 1 originations.
Loan Reason
For 2020, Spirit Of Alaska's most frequently cited loan purpose was Refi, with 51 originations. The 2nd most popular reason was Home Purchase, with 20 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 83 | $16,475,000 | $198,494 | $0 | 0.00% |
For 2020, Spirit Of Alaska's most frequently cited loan duration was Other, with 83 originations.
Loan Sizing
2020 saw Spirit Of Alaska place emphasis on $100k-200k loans with 38 originations, totaling $5,750,000 in origination value.
Applicant Income
Spirit Of Alaska lent most frequently to those with incomes in the $50k-75k range, with 20 originations. The second most popular income band? $75k-100k, with 18 originations.
Applicant Debt to Income Ratio
Spirit Of Alaska lent most frequently to those with DTI ratios of 20-30%, with 24 originations. The next most common DTI ratio? 30-36%, with 9 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.71%
Spirit Of Alaska has an average approval rate.
Pick Rate
Approvals leading to origination43.37%
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 | 83 | $16,475,000 | $198,494 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| SC Opportunity Fund LLC | Conventional home mortgage | Trouble during payment process | 1 | 100.0% |