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 Cash Out Refi and Home Purchase loans. Horizon has a high proportion of conventional loans. They have a low ratio of USDA 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, Sandpoint, and Missoula among others. We have data for 30 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 4.53% | 12/16/24 |
| 30 Year Conventional Purchase | 7.08% | 12/16/24 |
| 30 Year Conventional Refi | 6.95% | 12/16/24 |
| 30 Year Cash-out Refi | 7.25% | 12/16/24 |
| 30 Year FHA Purchase | 7.77% | 12/16/24 |
| 30 Year FHA Refi | 6.27% | 12/16/24 |
| 30 Year VA Purchase | 6.32% | 12/16/24 |
| 30 Year USDA Purchase | 6.27% | 12/16/24 |
| 30 Year USDA Refi | 6.27% | 12/16/24 |
| 15 Year Conventional Purchase | 6.41% | 12/16/24 |
| 15 Year Conventional Refi | 5.62% | 12/16/24 |
| 15 Year Cash-out Refi | 5.62% | 12/16/24 |
| 15 Year FHA Purchase | 5.68% | 12/16/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
904Origination Dollar Volume (All Markets)
$127,660,000Top 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 |
|---|---|---|---|---|---|
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 304 | $40,020,000 | $131,645 | $4,927 | 3.71% |
| BOISE CITY, ID (FHA|USDA|VA) | 209 | $31,785,000 | $152,081 | $5,910 | 3.62% |
| Moses Lake, WA (FHA|USDA|VA) | 120 | $16,520,000 | $137,667 | $5,301 | 3.72% |
| Outside of Metro Areas | 76 | $10,860,000 | $142,895 | $4,773 | 3.56% |
| Sandpoint, ID (FHA|USDA|VA) | 50 | $8,030,000 | $160,600 | $5,480 | 3.46% |
| Outside of Metro Areas | 39 | $5,095,000 | $130,641 | $4,992 | 3.53% |
| MISSOULA, MT (FHA|USDA|VA) | 23 | $3,975,000 | $172,826 | $5,179 | 3.36% |
| Butte-Silver Bow, MT (FHA|USDA|VA) | 22 | $2,220,000 | $100,909 | $3,937 | 3.33% |
| La Grande, OR (FHA|USDA|VA) | 13 | $1,405,000 | $108,077 | $4,745 | 3.92% |
| Ontario, OR-ID (FHA|USDA|VA) | 8 | $1,380,000 | $172,500 | $5,636 | 3.80% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 3 | $995,000 | $331,667 | $7,193 | 4.13% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 7 | $975,000 | $139,286 | $8,576 | 4.02% |
| WENATCHEE, WA (FHA|USDA|VA) | 6 | $810,000 | $135,000 | $5,628 | 4.10% |
| Mountain Home, ID (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $6,866 | 4.13% |
| Bozeman, MT (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $6,736 | 3.38% |
| LEWISTON, ID-WA (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $8,538 | 3.25% |
| Hailey, ID (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $5,405 | 4.38% |
| Ellensburg, WA (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $7,478 | 4.00% |
| TWIN FALLS, ID (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $5,448 | 3.38% |
| BILLINGS, MT (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,640 | 3.38% |
| Aberdeen, WA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $10,207 | 2.25% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $4,666 | 3.63% |
| Blackfoot, ID (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,442 | 2.88% |
| Centralia, WA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,260 | 3.25% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,721 | 2.63% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $0 | 4.38% |
| Pullman, WA (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $0 | 4.00% |
| YAKIMA, WA (FHA|USDA|VA) | 2 | $100,000 | $50,000 | $0 | 4.75% |
| Oak Harbor, WA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 4.50% |
| Helena, MT (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 2.99% |
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
For 2021, Horizon's most frequently originated type of loan was Conventional, with 487 originations. Their 2nd most popular type was HELOC, with 404 originations.
Loan Reason
For 2021, Horizon's most frequently cited loan purpose was Home Improvement, with 259 originations. The 2nd most popular reason was Cash Out Refi, with 218 originations.
Loan Duration/Length
For 2021, Horizon's most frequently cited loan duration was Other, with 372 originations. The 2nd most popular length was 30 Year, with 356 originations.
Origination Fees/Closing Costs
Horizon's average total fees were $5,542, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 197 originations.
Interest Rates
During 2021, Horizon's average interest rate for loans was 3.52%, while their most frequently originated rate bucket for loans was 3-4%, with 422 originations.
Loan Sizing
2021 saw Horizon place emphasis on $100,000 or less loans with 371 originations, totaling $19,655,000 in origination value.
Applicant Income
Horizon lent most frequently to those with incomes in the $50k-75k range, with 255 originations. The second most popular income band? $50k or less, with 197 originations.
Applicant Debt to Income Ratio
Horizon lent most frequently to those with DTI ratios of 20-30%, with 231 originations. The next most common DTI ratio? 30-36%, with 166 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications83.30%
Horizon has a below average approval rate.
Pick Rate
Approvals leading to origination68.36%
Horizon 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 |
|---|---|---|---|
| 0.0 | 5 | $325,000 | $65,000 |
| NA | 899 | $127,335,000 | $141,641 |