Seattle Metropolitan Credit Union Mortgage Rates, Fees & Info
Seattle, WALEI: 5493007QERYQSQ3QNH02
Tax ID: 91-0176215
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Mortgage Data
Review & Overview
Seattle Metropolitan Credit Union is a smaller credit union specializing in Cash Out Refi, Refi, and Home Purchase loans. Seattle Metropolitan Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Seattle, Bremerton, Bellingham, Oak Harbor, and Olympia among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)Seattle Metropolitan Credit Union 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. Seattle Metropolitan Credit Union 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 |
|---|---|---|
| 30 Year Conventional Purchase | 8.31% | 4/21/24 |
| 30 Year Conventional Refi | 7.01% | 4/21/24 |
| 30 Year Cash-out Refi | 6.63% | 4/21/24 |
| 15 Year Conventional Purchase | 5.97% | 4/21/24 |
| 15 Year Conventional Refi | 6.05% | 4/21/24 |
| 15 Year Cash-out Refi | 6.05% | 4/21/24 |
| 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. | ||
Seattle Metropolitan Credit Union Mortgage Calculator
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
367Origination Dollar Volume (All Markets)
$158,965,000Top 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 |
|---|---|---|---|---|---|
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 318 | $141,220,000 | $444,088 | $5,180 | 3.64% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 10 | $3,140,000 | $314,000 | $5,257 | 3.80% |
| BELLINGHAM, WA (FHA|USDA|VA) | 5 | $2,645,000 | $529,000 | $5,614 | 3.18% |
| Oak Harbor, WA (FHA|USDA|VA) | 5 | $1,955,000 | $391,000 | $5,985 | 3.13% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 5 | $1,845,000 | $369,000 | $5,595 | 2.93% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 4 | $1,450,000 | $362,500 | $3,375 | 3.37% |
| Ellensburg, WA (FHA|USDA|VA) | 3 | $1,095,000 | $365,000 | $4,941 | 4.04% |
| LONGVIEW, WA (FHA|USDA|VA) | 1 | $1,015,000 | $1,015,000 | $0 | 3.44% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 1 | $985,000 | $985,000 | $6,817 | 2.88% |
| Outside of Metro Areas | 3 | $895,000 | $298,333 | $5,443 | 3.00% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $7,251 | 5.88% |
| YAKIMA, WA (FHA|USDA|VA) | 4 | $660,000 | $165,000 | $3,314 | 4.09% |
| WENATCHEE, WA (FHA|USDA|VA) | 1 | $635,000 | $635,000 | $5,274 | 3.38% |
| Shelton, WA (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $5,107 | 2.75% |
| Aberdeen, WA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,639 | 3.00% |
| Othello, WA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,421 | 3.00% |
| Port Angeles, WA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $750 | 9.24% |
Their top states include:
Similar Lenders
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 367 | $158,965,000 | $433,147 | $5,159 | 3.63% |
For 2021, Seattle Metropolitan Credit Union's most frequently originated type of loan was Conventional, with 367 originations.
Loan Reason
For 2021, Seattle Metropolitan Credit Union's most frequently cited loan purpose was Cash Out Refi, with 132 originations. The 2nd most popular reason was Refi, with 102 originations.
Loan Duration/Length
For 2021, Seattle Metropolitan Credit Union's most frequently cited loan duration was 30 Year, with 234 originations. The 2nd most popular length was 15 Year, with 62 originations.
Origination Fees/Closing Costs
Seattle Metropolitan Credit Union's average total fees were $6,181, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 66 originations.
Interest Rates
During 2021, Seattle Metropolitan Credit Union's average interest rate for loans was 3.40%, while their most frequently originated rate bucket for loans was 2.5-3%, with 153 originations.
Loan Sizing
2021 saw Seattle Metropolitan Credit Union place emphasis on $200k-400k loans with 137 originations, totaling $40,755,000 in origination value.
Applicant Income
Seattle Metropolitan Credit Union lent most frequently to those with incomes in the $100k-150k range, with 117 originations. The second most popular income band? $150k-250k, with 72 originations.
Applicant Debt to Income Ratio
Seattle Metropolitan Credit Union lent most frequently to those with DTI ratios of 20-30%, with 89 originations. The next most common DTI ratio? 30-36%, with 62 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.66%
Seattle Metropolitan Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination51.23%
Seattle Metropolitan Credit Union 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 |
|---|---|---|---|
| NA | 367 | $158,965,000 | $433,147 |