Washington State Bank Mortgage Rates, Fees & Info

Washington, IL

LEI: 5493005FO541ADHSMJ24

Tax ID: 37-0636365

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Washington State Bank is a smaller bank specializing in Home Purchase and Refi loans. Washington State Bank has a high proportion of conventional loans. Their top (well, only) market is Peoria.

    Washington State Bank 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.

    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.

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    Originations

    38

    Origination Dollar Volume (All Markets)

    $4,360,000

    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
    PEORIA, IL (FHA|USDA|VA) 38 $4,360,000 $114,737 $0 0.00%
    Washington State Bank's top markets include and Peoria among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 38 $4,360,000 $114,737 $0 0.00%

    For 2018, Washington State Bank's most frequently originated type of loan was Conventional, with 38 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 20 $2,320,000 $116,000 $0 0.00%
    Refi 14 $1,730,000 $123,571 $0 0.00%
    Home Improvement 2 $230,000 $115,000 $0 0.00%
    Other 2 $80,000 $40,000 $0 0.00%

    For 2018, Washington State Bank's most frequently cited loan purpose was Home Purchase, with 20 originations. The 2nd most popular reason was Refi, with 14 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 38 $4,360,000 $114,737 $0 0.00%

    For 2018, Washington State Bank's most frequently cited loan duration was Other, with 38 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 21 $1,505,000 $71,667 $0 0.00%
    $100k-200k 11 $1,395,000 $126,818 $0 0.00%
    $200k-400k 6 $1,460,000 $243,333 $0 0.00%

    2018 saw Washington State Bank place emphasis on $100,000 or less loans with 21 originations, totaling $1,505,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 13 $1,625,000 $125,000 $0 0.00%
    $50k-75k 7 $725,000 $103,571 $0 0.00%
    $100k-150k 5 $665,000 $133,000 $0 0.00%
    $150k-250k 4 $520,000 $130,000 $0 0.00%
    $50k or less 3 $315,000 $105,000 $0 0.00%
    $250k+ 1 $105,000 $105,000 $0 0.00%

    Washington State Bank lent most frequently to those with incomes in the $75k-100k range, with 13 originations. The second most popular income band? $50k-75k, with 7 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 38 $4,360,000 $114,737 $0 0.00%

    Washington State Bank lent most frequently to those with DTI ratios of Exempt%, with 38 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 33 $3,905,000 $118,333 $0 0.00%
    Not applicable 4 $350,000 $87,500 $0 0.00%
    Black 1 $105,000 $105,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.67%

    Washington State Bank 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
    89.47%

    Washington State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 38 $4,360,000 $114,737

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 38 $4,360,000 $114,737

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    WASHINGTON FEDERAL BANK, NATIONAL ASSOCIATION Conventional home mortgage Closing on a mortgage 1 14.3%
    WASHINGTON FEDERAL BANK, NATIONAL ASSOCIATION Conventional home mortgage Struggling to pay mortgage 1 14.3%
    WASHINGTON FEDERAL BANK, NATIONAL ASSOCIATION Conventional home mortgage Trouble during payment process 1 14.3%
    WASHINGTON FEDERAL BANK, NATIONAL ASSOCIATION FHA mortgage Struggling to pay mortgage 1 14.3%
    WASHINGTON FEDERAL BANK, NATIONAL ASSOCIATION Other type of mortgage Closing on a mortgage 3 42.9%