Spirit Of Alaska Mortgage Rates, Fees & Info
Fairbanks, AKLEI: 54930047C62INWFYCF40
Tax ID: 92-0028428
Latest/2023 | 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 Home Purchase and Cash Out Refi loans. Spirit Of Alaska has a high proportion of conventional loans. Their top markets by origination volume include: Fairbanks, St. George, and Sumter 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 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
54Origination Dollar Volume (All Markets)
$11,320,000Top 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) | 48 | $10,050,000 | $209,375 | $0 | 0.00% |
| Outside of Metro Areas | 4 | $780,000 | $195,000 | $0 | 0.00% |
| ST. GEORGE, UT (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $0 | 0.00% |
| SUMTER, SC (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 51 | $10,245,000 | $200,882 | $0 | 0.00% |
| VA | 3 | $1,075,000 | $358,333 | $0 | 0.00% |
For 2022, Spirit Of Alaska's most frequently originated type of loan was Conventional, with 51 originations. Their 2nd most popular type was VA, with 3 originations.
Loan Reason
For 2022, Spirit Of Alaska's most frequently cited loan purpose was Home Purchase, with 25 originations. The 2nd most popular reason was Cash Out Refi, with 17 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 54 | $11,320,000 | $209,630 | $0 | 0.00% |
For 2022, Spirit Of Alaska's most frequently cited loan duration was Other, with 54 originations.
Loan Sizing
2022 saw Spirit Of Alaska place emphasis on $200k-400k loans with 24 originations, totaling $6,710,000 in origination value.
Applicant Income
Spirit Of Alaska lent most frequently to those with incomes in the $100k-150k range, with 14 originations. The second most popular income band? $150k-250k, with 10 originations.
Applicant Debt to Income Ratio
Spirit Of Alaska lent most frequently to those with DTI ratios of <20%, with 9 originations. The next most common DTI ratio? 20-30%, with 8 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.60%
Spirit Of Alaska has an average approval rate.
Pick Rate
Approvals leading to origination57.41%
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 | 54 | $11,320,000 | $209,630 |