Horizon Mortgage Rates, Fees & Info
Spokane Valley, WALEI: 549300715JT4HMT74E48
Tax ID: 91-0567788
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Mortgage Data
Review & Overview
Horizon is a smaller mortgage company specializing in Home Improvement and Home Purchase loans. Horizon has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Spokane, Boise City, Moses Lake, Missoula, and Sandpoint among others. We have data for 27 markets. (Some data included below & more in-depth data is available with an active subscription.)Horizon has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Horizon is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.
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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 4.89% | 4/5/25 |
| 30 Year Conventional Purchase | 7.51% | 4/5/25 |
| 30 Year Conventional Refi | 7.61% | 4/5/25 |
| 30 Year Cash-out Refi | 7.87% | 4/5/25 |
| 30 Year FHA Purchase | 7.20% | 4/5/25 |
| 30 Year VA Purchase | 6.34% | 4/5/25 |
| 30 Year USDA Purchase | 6.72% | 4/5/25 |
| 15 Year Conventional Purchase | 6.00% | 4/5/25 |
| 15 Year Conventional Refi | 6.35% | 4/5/25 |
| 15 Year Cash-out Refi | 6.35% | 4/5/25 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Horizon Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
606Origination Dollar Volume (All Markets)
$76,490,000Awards
HORIZON - 2024
HORIZON is a 2024 , due to their low .
For 2024, less than of lenders were eligible for this award.
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Relative Rate
Horizon's average 30 year fixed mortgage rate was
7.15%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.6%.
Relative Fees (Closing Costs)
Horizon's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,812.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $8,356.
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 |
|---|---|---|---|---|---|
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 201 | $21,555,000 | $107,239 | $5,581 | 6.33% |
| BOISE CITY, ID (FHA|USDA|VA) | 115 | $15,745,000 | $136,913 | $6,315 | 6.59% |
| Outside of Metro Areas | 54 | $8,720,000 | $161,481 | $7,088 | 6.67% |
| Moses Lake, WA (FHA|USDA|VA) | 65 | $7,755,000 | $119,308 | $6,731 | 6.27% |
| MISSOULA, MT (FHA|USDA|VA) | 38 | $5,080,000 | $133,684 | $7,329 | 6.68% |
| Sandpoint, ID (FHA|USDA|VA) | 32 | $4,520,000 | $141,250 | $9,008 | 6.10% |
| Outside of Metro Areas | 17 | $1,895,000 | $111,471 | $0 | 6.49% |
| GREAT FALLS, MT (FHA|USDA|VA) | 16 | $1,870,000 | $116,875 | $5,944 | 6.42% |
| Butte-Silver Bow, MT (FHA|USDA|VA) | 18 | $1,710,000 | $95,000 | $4,874 | 5.83% |
| La Grande, OR (FHA|USDA|VA) | 13 | $1,695,000 | $130,385 | $5,612 | 6.12% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 3 | $825,000 | $275,000 | $7,357 | 6.62% |
| WENATCHEE, WA (FHA|USDA|VA) | 5 | $635,000 | $127,000 | $7,074 | 5.74% |
| Hermiston-Pendleton, OR (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $8,415 | 7.13% |
| Bozeman, MT (FHA|USDA|VA) | 4 | $520,000 | $130,000 | $8,667 | 6.43% |
| Helena, MT (FHA|USDA|VA) | 5 | $505,000 | $101,000 | $7,038 | 6.14% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 4 | $450,000 | $112,500 | $0 | 7.00% |
| WALLA WALLA, WA (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $9,057 | 7.50% |
| BEND, OR (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $19,179 | 6.13% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $9,818 | 8.50% |
| Pullman, WA (FHA|USDA|VA) | 3 | $415,000 | $138,333 | $6,841 | 6.41% |
| Othello, WA (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $6,147 | 8.63% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $5,902 | 7.25% |
| IDAHO FALLS, ID (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 4.99% |
| Centralia, WA (FHA|USDA|VA) | 2 | $80,000 | $40,000 | $0 | 7.25% |
| Kalispell, MT (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 4.99% |
| Ellensburg, WA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 9.25% |
| Port Angeles, WA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 9.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against HORIZON based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 30
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Similarity Rank: 304
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Similarity Rank: 688
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Similarity Rank: 1122
Similarity Rank: 1128
Product Mix
For 2024, Horizon's most frequently originated type of loan was HELOC, with 498 originations. Their 2nd most popular type was Conventional, with 102 originations.
Loan Reason
For 2024, Horizon's most frequently cited loan purpose was Home Improvement, with 249 originations. The 2nd most popular reason was Other, with 179 originations.
Loan Duration/Length
For 2024, Horizon's most frequently cited loan duration was Other, with 388 originations. The 2nd most popular length was 15 Year, with 113 originations.
Origination Fees/Closing Costs
Horizon's average total fees were $6,812, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 34 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 347 | $32,145,000 | $92,637 |
| Over 8% | 170 | $18,990,000 | $111,706 |
| 6-7% | 41 | $12,045,000 | $293,780 |
| 7-8% | 36 | $10,250,000 | $284,722 |
| 5-6% | 12 | $3,060,000 | $255,000 |
During 2024, Horizon's average interest rate for loans was 7.15%, while their most frequently originated rate bucket for loans was 4-5%, with 347 originations.
Loan Sizing
2024 saw Horizon place emphasis on $100,000 or less loans with 328 originations, totaling $17,860,000 in origination value.
Applicant Income
Horizon lent most frequently to those with incomes in the $100k-150k range, with 175 originations. The second most popular income band? $150k-250k, with 119 originations.
Applicant Debt to Income Ratio
Horizon lent most frequently to those with DTI ratios of 20-30%, with 141 originations. The next most common DTI ratio? 30-36%, with 116 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications68.12%
Horizon has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination75.08%
Horizon has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 606 | $76,490,000 | $126,221 |