Horizon Mortgage Rates, Fees & Info

Spokane Valley, WA

LEI: 549300715JT4HMT74E48

Tax ID: 91-0567788

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

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Mortgage Data

Review & Overview

Horizon is a smaller mortgage company specializing in Cash Out Refi, Refi, 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.) They have a low ratio of USDA loans. Their top markets by origination volume include: Spokane, Boise City, Sandpoint, Moses Lake, and Missoula among others. We have data for 23 markets. (Some data included below & more in-depth data is available with an active subscription.)

Horizon 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. Horizon is typically an average 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 about average 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 4.53% 3/27/24
30 Year Conventional Purchase 7.08% 3/27/24
30 Year Conventional Refi 6.95% 3/27/24
30 Year Cash-out Refi 7.25% 3/27/24
30 Year FHA Purchase 7.77% 3/27/24
30 Year FHA Refi 6.27% 3/27/24
30 Year VA Purchase 6.32% 3/27/24
30 Year USDA Purchase 6.27% 3/27/24
30 Year USDA Refi 6.27% 3/27/24
15 Year Conventional Purchase 6.41% 3/27/24
15 Year Conventional Refi 5.62% 3/27/24
15 Year Cash-out Refi 5.62% 3/27/24
15 Year FHA Purchase 5.68% 3/27/24
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






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Horizon. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

1,037

Origination Dollar Volume (All Markets)

$167,255,000

Awards

HORIZON FHA Loans gold
Show all (1) awards

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) 350 $50,600,000 $144,571 $5,126 3.75%
BOISE CITY, ID (FHA|USDA|VA) 234 $45,920,000 $196,239 $4,197 3.04%
Sandpoint, ID (FHA|USDA|VA) 101 $16,555,000 $163,911 $5,801 3.52%
Moses Lake, WA (FHA|USDA|VA) 111 $13,785,000 $124,189 $4,996 4.00%
Outside of Metro Areas 81 $13,315,000 $164,383 $5,359 3.48%
Outside of Metro Areas 45 $8,955,000 $199,000 $6,564 3.79%
MISSOULA, MT (FHA|USDA|VA) 50 $7,050,000 $141,000 $4,891 3.78%
Butte-Silver Bow, MT (FHA|USDA|VA) 18 $2,230,000 $123,889 $4,212 3.63%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 6 $1,770,000 $295,000 $8,353 3.33%
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 6 $1,490,000 $248,333 $7,189 3.54%
La Grande, OR (FHA|USDA|VA) 7 $945,000 $135,000 $0 3.25%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 4 $850,000 $212,500 $6,487 4.69%
Othello, WA (FHA|USDA|VA) 4 $580,000 $145,000 $4,622 4.38%
Helena, MT (FHA|USDA|VA) 3 $465,000 $155,000 $4,368 3.17%
YAKIMA, WA (FHA|USDA|VA) 3 $435,000 $145,000 $4,867 3.33%
WENATCHEE, WA (FHA|USDA|VA) 3 $395,000 $131,667 $4,543 4.25%
Moscow, ID (FHA|USDA|VA) 1 $325,000 $325,000 $8,782 3.00%
Ontario, OR-ID (FHA|USDA|VA) 1 $315,000 $315,000 $0 3.00%
Pullman, WA (FHA|USDA|VA) 3 $295,000 $98,333 $4,233 3.88%
BELLINGHAM, WA (FHA|USDA|VA) 1 $285,000 $285,000 $5,929 2.50%
Bozeman, MT (FHA|USDA|VA) 1 $255,000 $255,000 $5,859 3.50%
Mountain Home, ID (FHA|USDA|VA) 3 $245,000 $81,667 $0 2.96%
LEWISTON, ID-WA (FHA|USDA|VA) 1 $195,000 $195,000 $5,329 2.88%
Horizon's top markets include Spokane, Boise City, Sandpoint, Moses Lake, and Missoula among others.

Their top states include:
  • Idaho (FHA|USDA|VA)
  • Washington (FHA|USDA|VA)
  • Montana (FHA|USDA|VA)
  • Oregon (FHA|USDA|VA)
  • 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.

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 645 $135,405,000 $209,930 $5,255 3.16%
    HELOC 378 $28,640,000 $75,767 n/a 4.29%
    FHA 11 $2,385,000 $216,818 $8,724 2.86%
    VA 2 $670,000 $335,000 $5,603 2.88%
    USDA 1 $155,000 $155,000 $7,493 3.63%

    For 2020, Horizon's most frequently originated type of loan was Conventional, with 645 originations. Their 2nd most popular type was HELOC, with 378 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 274 $56,350,000 $205,657 $5,289 3.17%
    Refi 254 $47,670,000 $187,677 $4,947 3.05%
    Home Improvement 204 $16,360,000 $80,196 $6,534 4.13%
    Home Purchase 187 $38,695,000 $206,925 $5,639 3.63%
    Other 118 $8,180,000 $69,322 $0 4.54%

    For 2020, Horizon's most frequently cited loan purpose was Cash Out Refi, with 274 originations. The 2nd most popular reason was Refi, with 254 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 516 $112,630,000 $218,275 $5,438 3.27%
    Other 341 $25,805,000 $75,674 $0 4.29%
    15 Year 122 $21,470,000 $175,984 $4,941 2.71%
    20 Year 53 $6,475,000 $122,170 $4,190 3.77%
    10 Year 4 $850,000 $212,500 $0 3.63%
    5 Year 1 $25,000 $25,000 $0 4.49%

    For 2020, Horizon's most frequently cited loan duration was 30 Year, with 516 originations. The 2nd most popular length was Other, with 341 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $3k-4k 147 $32,635,000 $222,007
    $2k-3k 139 $21,125,000 $151,978
    $4k-5k 65 $18,255,000 $280,846
    $1k-2k 49 $4,065,000 $82,959
    $5k+ 36 $13,050,000 $362,500
    $<1k 1 $95,000 $95,000

    Horizon's average total fees were $5,438, while their most frequently occuring range of origination fees (closing costs) were in the $3k-4k bucket, with 147 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 370 $58,210,000 $157,324
    2.5-3% 286 $62,780,000 $219,510
    4-5% 193 $20,625,000 $106,865
    <2.5% 112 $19,930,000 $177,946
    5-6% 63 $4,975,000 $78,968
    6-7% 10 $420,000 $42,000
    7-8% 2 $100,000 $50,000

    During 2020, Horizon's average interest rate for loans was 3.27%, while their most frequently originated rate bucket for loans was 3-4%, with 370 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 357 $19,895,000 $55,728 $3,454 4.16%
    $100k-200k 345 $51,595,000 $149,551 $4,685 3.33%
    $200k-400k 300 $79,680,000 $265,600 $6,275 3.19%
    $400k-600k 35 $16,085,000 $459,571 $8,539 3.09%

    2020 saw Horizon place emphasis on $100,000 or less loans with 357 originations, totaling $19,895,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 267 $39,745,000 $148,858 $5,244 3.48%
    $75k-100k 216 $37,170,000 $172,083 $5,457 3.57%
    $100k-150k 215 $38,735,000 $180,163 $5,783 3.61%
    $50k or less 206 $23,010,000 $111,699 $4,400 3.64%
    $150k-250k 111 $23,295,000 $209,865 $6,782 3.54%
    $250k+ 16 $4,460,000 $278,750 $8,981 3.55%

    Horizon lent most frequently to those with incomes in the $50k-75k range, with 267 originations. The second most popular income band? $75k-100k, with 216 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 288 $45,050,000 $156,424 $5,070 3.46%
    30-36% 214 $35,560,000 $166,168 $5,188 3.54%
    <20% 132 $16,020,000 $121,364 $4,807 3.40%
    36% 44 $7,550,000 $171,591 $5,554 3.74%
    37% 38 $7,560,000 $198,947 $6,016 3.78%
    41% 34 $6,360,000 $187,059 $5,149 3.52%
    42% 31 $6,025,000 $194,355 $5,725 3.59%
    43% 31 $6,125,000 $197,581 $6,078 3.77%
    44% 29 $5,365,000 $185,000 $5,584 3.75%
    39% 29 $4,555,000 $157,069 $4,899 3.63%
    40% 28 $5,370,000 $191,786 $4,641 3.47%
    38% 27 $5,105,000 $189,074 $5,869 3.65%
    47% 22 $3,230,000 $146,818 $5,703 3.89%
    45% 20 $2,650,000 $132,500 $5,399 3.50%
    46% 18 $3,930,000 $218,333 $6,557 3.69%
    50-60% 16 $2,350,000 $146,875 $7,719 4.10%
    48% 14 $1,730,000 $123,571 $5,194 3.74%
    49% 14 $1,700,000 $121,429 $5,889 4.02%
    >60% 5 $315,000 $63,000 $0 4.60%

    Horizon lent most frequently to those with DTI ratios of 20-30%, with 288 originations. The next most common DTI ratio? 30-36%, with 214 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 970 $154,100,000 $158,866 $5,339 3.59%
    Not provided 47 $9,455,000 $201,170 $5,415 3.03%
    American Indian 7 $1,465,000 $209,286 $9,437 3.61%
    Not applicable 3 $795,000 $265,000 $5,092 4.04%
    Native Hawaiian or Islander 3 $555,000 $185,000 $0 3.13%
    Asian 4 $520,000 $130,000 $4,121 3.25%
    Black 3 $365,000 $121,667 $4,214 4.00%

    Approval Rates

    Total approvals of all applications
    87.77%

    Horizon has an average approval rate.

    Pick Rate

    Approvals leading to origination
    71.46%

    Horizon has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    101.5 1 $205,000 $205,000
    113.0 1 $115,000 $115,000
    2107.5 1 $215,000 $215,000
    212.5 1 $85,000 $85,000
    2550.0 1 $255,000 $255,000
    275.88 1 $225,000 $225,000
    310.5 1 $345,000 $345,000
    3250.0 1 $325,000 $325,000
    337.5 1 $275,000 $275,000
    375.0 1 $105,000 $105,000
    4740.0 1 $475,000 $475,000
    500.0 1 $115,000 $115,000
    553.5 1 $365,000 $365,000
    727.5 1 $195,000 $195,000
    811.44 1 $325,000 $325,000
    845.0 1 $165,000 $165,000
    849.0 1 $85,000 $85,000
    85.0 1 $225,000 $225,000
    920.0 1 $95,000 $95,000
    NA 1,018 $163,060,000 $160,177

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 104 $13,950,000 $134,135
    Single Family (1-4 Units):Site-Built 933 $153,305,000 $164,314

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 202 $20,200,000 $100,000 $4,125 3.71%
    40-60% 245 $44,625,000 $182,143 $4,972 3.13%
    60-80% 263 $62,055,000 $235,951 $5,608 3.27%
    80-100% 134 $31,610,000 $235,896 $5,834 3.57%
    Under 20% 192 $8,550,000 $44,531 $3,678 4.38%