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 Urban Honolulu .Spirit Of Alaska 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.
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Originations
79Origination Dollar Volume (All Markets)
$16,065,000Top 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) | 71 | $14,095,000 | $198,521 | $0 | 0.00% |
| Outside of Metro Areas | 7 | $1,695,000 | $242,143 | $0 | 0.00% |
| URBAN HONOLULU, HI (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 76 | $15,270,000 | $200,921 | $0 | 0.00% |
| VA | 3 | $795,000 | $265,000 | $0 | 0.00% |
For 2021, Spirit Of Alaska's most frequently originated type of loan was Conventional, with 76 originations. Their 2nd most popular type was VA, with 3 originations.
Loan Reason
For 2021, Spirit Of Alaska's most frequently cited loan purpose was Refi, with 37 originations. The 2nd most popular reason was Home Purchase, with 22 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 79 | $16,065,000 | $203,354 | $0 | 0.00% |
For 2021, Spirit Of Alaska's most frequently cited loan duration was Other, with 79 originations.
Loan Sizing
2021 saw Spirit Of Alaska place emphasis on $100k-200k loans with 34 originations, totaling $5,030,000 in origination value.
Applicant Income
Spirit Of Alaska lent most frequently to those with incomes in the $50k-75k range, with 22 originations. The second most popular income band? $100k-150k, with 16 originations.
Applicant Debt to Income Ratio
Spirit Of Alaska lent most frequently to those with DTI ratios of 30-36%, with 15 originations. The next most common DTI ratio? 20-30%, with 15 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.51%
Spirit Of Alaska has an average approval rate.
Pick Rate
Approvals leading to origination41.77%
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 | 79 | $16,065,000 | $203,354 |