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 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.

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

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

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

904

Origination Dollar Volume (All Markets)

$127,660,000

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
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%
Horizon's top markets include Spokane, Boise City, Moses Lake, Sandpoint, and Missoula among others.

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

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 487 $92,275,000 $189,476 $5,159 3.37%
    HELOC 404 $31,510,000 $77,995 n/a 4.02%
    VA 9 $2,835,000 $315,000 $8,901 2.46%
    USDA 3 $735,000 $245,000 $8,937 3.25%
    FHA 1 $305,000 $305,000 $10,873 3.13%

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 259 $23,305,000 $89,981 $5,500 3.93%
    Cash Out Refi 218 $41,920,000 $192,294 $5,217 3.37%
    Home Purchase 153 $30,795,000 $201,275 $5,802 3.70%
    Refi 145 $22,565,000 $155,621 $4,931 3.07%
    Other 129 $9,075,000 $70,349 $0 4.16%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 372 $27,690,000 $74,435 $0 4.05%
    30 Year 356 $72,840,000 $204,607 $5,542 3.52%
    15 Year 157 $22,825,000 $145,382 $4,487 3.04%
    20 Year 15 $2,385,000 $159,000 $5,158 3.24%
    10 Year 4 $1,920,000 $480,000 $2,755 4.13%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 197 $29,855,000 $151,548
    $3k-4k 134 $28,360,000 $211,642
    $4k-5k 66 $18,390,000 $278,636
    $1k-2k 55 $4,535,000 $82,455
    $5k+ 34 $12,350,000 $363,235
    $<1k 7 $695,000 $99,286

    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

    Loan Rate Originations Total Value Average Loan
    3-4% 422 $68,450,000 $162,204
    4-5% 218 $21,160,000 $97,064
    2.5-3% 178 $27,300,000 $153,371
    <2.5% 52 $8,280,000 $159,231
    5-6% 30 $2,320,000 $77,333
    6-7% 4 $150,000 $37,500

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 371 $19,655,000 $52,978 $3,375 3.98%
    $100k-200k 311 $45,665,000 $146,833 $4,620 3.42%
    $200k-400k 207 $54,685,000 $264,179 $6,489 3.43%
    $400k-600k 14 $6,400,000 $457,143 $9,752 3.29%
    $1MM+ 1 $1,255,000 $1,255,000 $0 4.25%

    2021 saw Horizon place emphasis on $100,000 or less loans with 371 originations, totaling $19,655,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 255 $35,715,000 $140,059 $5,220 3.66%
    $50k or less 197 $21,275,000 $107,995 $4,363 3.58%
    $100k-150k 192 $27,910,000 $145,365 $5,821 3.74%
    $75k-100k 154 $22,470,000 $145,909 $5,777 3.57%
    $150k-250k 80 $13,610,000 $170,125 $6,525 3.81%
    $250k+ 21 $4,305,000 $205,000 $6,432 3.51%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 231 $31,655,000 $137,035 $5,574 3.60%
    30-36% 166 $22,220,000 $133,855 $5,013 3.63%
    <20% 97 $10,435,000 $107,577 $4,575 3.49%
    42% 37 $6,425,000 $173,649 $5,364 3.62%
    44% 37 $6,005,000 $162,297 $5,876 3.75%
    41% 35 $5,565,000 $159,000 $5,553 3.76%
    38% 33 $4,645,000 $140,758 $4,808 3.95%
    37% 33 $4,805,000 $145,606 $5,317 3.74%
    43% 32 $4,810,000 $150,313 $5,155 3.64%
    40% 32 $5,400,000 $168,750 $5,033 3.59%
    39% 30 $4,410,000 $147,000 $5,419 3.63%
    36% 27 $3,615,000 $133,889 $4,174 3.68%
    49% 22 $3,000,000 $136,364 $6,446 3.82%
    47% 19 $2,555,000 $134,474 $5,333 4.01%
    48% 18 $2,990,000 $166,111 $5,587 3.67%
    45% 18 $2,100,000 $116,667 $5,329 3.86%
    46% 11 $1,425,000 $129,545 $6,403 4.10%
    50-60% 8 $950,000 $118,750 $6,976 3.89%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 857 $118,605,000 $138,396 $5,256 3.66%
    Not provided 25 $5,405,000 $216,200 $5,629 3.36%
    American Indian 11 $1,845,000 $167,727 $5,006 3.66%
    Black 2 $520,000 $260,000 $8,124 3.25%
    Asian 3 $445,000 $148,333 $4,048 3.08%
    Not applicable 1 $385,000 $385,000 $0 4.00%
    Native Hawaiian or Islander 4 $320,000 $80,000 $2,086 3.90%
    Chinese 1 $135,000 $135,000 $3,837 3.00%

    Approval Rates

    Total approvals of all applications
    83.30%

    Horizon has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    68.36%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    904 $127,660,000 $141,217

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 203 $25,735,000 $126,773 $4,371 3.46%
    40-60% 178 $33,660,000 $189,101 $5,248 3.13%
    60-80% 160 $34,590,000 $216,188 $5,532 3.55%
    80-100% 75 $18,875,000 $251,667 $6,293 3.84%
    Over 100% 1 $175,000 $175,000 $10,207 2.25%
    Under 20% 287 $14,625,000 $50,958 $2,570 4.13%