Sammamish Mortgage Company Rates, Fees & Info

FALL CITY, WA

LEI: 5493009HUMWCHFRDKF12

Tax ID: 91-1569077

5 stars - out of 5 stars, based on 34 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Sammamish Mortgage Company is a smaller mortgage company specializing in Refi and Home Purchase loans. Sammamish Mortgage Company has a high proportion of conventional loans. Their top markets include Seattle, Portland, Bremerton, Boise City, and Olympia among others. Sammamish Mortgage Company has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Sammamish Mortgage Company is typically an average fee lendor.


Originations

1,153

Origination Dollar Volume (All Markets)

$473,875,000
Show all (7) awards

Relative Rate

Sammamish Mortgage Company's average 30 year fixed rate mortgage of loans were 2.95%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.2%.

Relative Fees

Sammamish Mortgage Company's average total fees for a 30 year fixed rate mortgage are $4,630.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 832 $363,140,000 $436,466 $4,488 2.84%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 94 $32,930,000 $350,319 $4,442 2.87%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 31 $11,335,000 $365,645 $4,838 2.88%
BOISE CITY, ID (FHA|USDA|VA) 23 $8,515,000 $370,217 $5,998 2.92%
Outside of Metro Areas 15 $6,225,000 $415,000 $5,282 2.83%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 16 $4,670,000 $291,875 $3,492 2.82%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 9 $4,415,000 $490,556 $5,139 2.72%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 13 $3,885,000 $298,846 $3,488 3.04%
BELLINGHAM, WA (FHA|USDA|VA) 13 $3,755,000 $288,846 $2,539 3.27%
BEND, OR (FHA|USDA|VA) 11 $3,245,000 $295,000 $3,605 2.87%
WENATCHEE, WA (FHA|USDA|VA) 8 $2,930,000 $366,250 $6,226 3.09%
Outside of Metro Areas 8 $2,810,000 $351,250 $3,346 2.76%
EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 8 $2,710,000 $338,750 $2,939 2.89%
Oak Harbor, WA (FHA|USDA|VA) 9 $2,625,000 $291,667 $3,444 3.00%
MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 6 $2,520,000 $420,000 $3,759 2.88%
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 7 $2,455,000 $350,714 $6,539 2.80%
YAKIMA, WA (FHA|USDA|VA) 5 $1,725,000 $345,000 $3,574 2.95%
Shelton, WA (FHA|USDA|VA) 5 $1,505,000 $301,000 $3,679 2.85%
SALEM, OR (FHA|USDA|VA) 4 $1,130,000 $282,500 $4,871 2.81%
Ellensburg, WA (FHA|USDA|VA) 2 $1,000,000 $500,000 $2,771 3.06%
Port Angeles, WA (FHA|USDA|VA) 3 $895,000 $298,333 $5,718 2.67%
Aberdeen, WA (FHA|USDA|VA) 4 $870,000 $217,500 $3,802 3.50%
Roseburg, OR (FHA|USDA|VA) 3 $845,000 $281,667 $3,529 3.08%
Newport, OR (FHA|USDA|VA) 2 $780,000 $390,000 $3,046 2.62%
Brookings, OR (FHA|USDA|VA) 2 $750,000 $375,000 $5,797 2.88%
COLORADO SPRINGS, CO (FHA|USDA|VA) 3 $735,000 $245,000 $3,219 3.12%
Hermiston-Pendleton, OR (FHA|USDA|VA) 2 $650,000 $325,000 $3,715 2.50%
Astoria, OR (FHA|USDA|VA) 3 $615,000 $205,000 $7,157 2.63%
GRAND JUNCTION, CO (FHA|USDA|VA) 2 $580,000 $290,000 $5,266 2.31%
Edwards, CO (FHA|USDA|VA) 1 $565,000 $565,000 $5,569 2.88%
LONGVIEW, WA (FHA|USDA|VA) 1 $545,000 $545,000 $2,379 2.99%
FORT COLLINS, CO (FHA|USDA|VA) 1 $545,000 $545,000 $2,995 2.88%
MEDFORD, OR (FHA|USDA|VA) 2 $540,000 $270,000 $2,992 3.31%
CORVALLIS, OR (FHA|USDA|VA) 1 $465,000 $465,000 $2,512 2.88%
Pullman, WA (FHA|USDA|VA) 2 $450,000 $225,000 $3,298 3.12%
Moscow, ID (FHA|USDA|VA) 1 $305,000 $305,000 $17,218 2.25%
GRANTS PASS, OR (FHA|USDA|VA) 1 $215,000 $215,000 $1,672 3.50%

Sammamish Mortgage Company's top markets include Seattle, Portland, Bremerton, Boise City, and Olympia among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,129 $462,645,000 $409,783 $4,394 2.87%
VA 24 $11,230,000 $467,917 $8,045 2.47%

For the 2021 period, Sammamish Mortgage Company's most frequently originated loan type of loans were Conventional, with 1,129 originations. Their 2nd most popular type is VA, with 24 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 749 $286,925,000 $383,077 $3,962 2.82%
Home Purchase 266 $132,330,000 $497,481 $5,747 2.92%
Home Improvement 138 $54,620,000 $395,797 $4,772 2.91%

For the 2021, Sammamish Mortgage Company's most frequently cited loan purpose of loans were Refi, with 749 originations. The 2nd most popular reason of loans were Home Purchase, with 266 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 911 $388,485,000 $426,438 $4,630 2.95%
15 Year 151 $54,175,000 $358,775 $4,041 2.41%
20 Year 59 $21,145,000 $358,390 $3,954 2.73%
10 Year 20 $5,420,000 $271,000 $2,991 2.21%
Other 12 $4,650,000 $387,500 $2,753 2.94%

For the 2021, Sammamish Mortgage Company's most frequently cited loan length of loans were 30 Year, with 911 originations. The 2nd most popular length of loans were 15 Year, with 151 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 692 $277,900,000 $401,590
$5k+ 195 $94,385,000 $484,026
$3k-4k 119 $45,685,000 $383,908
$1k-2k 79 $28,895,000 $365,759
$2k-3k 68 $27,010,000 $397,206

$4,630 of loans were Sammamish Mortgage Company's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 692 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 671 $283,015,000 $421,781
3-4% 262 $104,920,000 $400,458
<2.5% 218 $85,300,000 $391,284
4-5% 2 $640,000 $320,000

During 2021, Sammamish Mortgage Company's average interest rate of loans were 2.95%, while their most frequently originated rate bucket of loans were 2.5-3%, with 671 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 507 $152,445,000 $300,680 $3,816 2.86%
$400k-600k 397 $192,265,000 $484,295 $4,270 2.82%
$600k-1MM 151 $106,695,000 $706,589 $7,557 2.87%
$100k-200k 92 $14,990,000 $162,935 $3,254 2.97%
$1MM+ 5 $7,385,000 $1,477,000 $15,933 3.15%
$100,000 or less 1 $95,000 $95,000 $4,215 3.49%

2021 saw Sammamish Mortgage Company place emphasis on $200k-400k loans with 507 originations, totaling $152,445,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$150k-250k 388 $177,360,000 $457,113 $4,590 2.86%
$100k-150k 313 $124,575,000 $398,003 $4,305 2.86%
$75k-100k 156 $52,760,000 $338,205 $3,942 2.88%
$250k+ 137 $75,195,000 $548,869 $5,936 2.83%
$50k-75k 124 $33,990,000 $274,113 $3,632 2.84%
$50k or less 30 $8,110,000 $270,333 $4,270 2.90%

Sammamish Mortgage Company lent most frequently to those with incomes in the $150k-250k range, with 388 originations. The second most popular income band? $100k-150k, with 313 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 339 $139,815,000 $412,434 $4,356 2.83%
30-36% 211 $87,115,000 $412,867 $4,291 2.87%
<20% 158 $61,360,000 $388,354 $4,298 2.78%
36% 40 $17,590,000 $439,750 $4,814 2.87%
43% 40 $17,520,000 $438,000 $4,475 2.99%
39% 39 $15,275,000 $391,667 $5,275 3.06%
37% 35 $14,925,000 $426,429 $5,474 2.89%
49% 34 $12,560,000 $369,412 $4,700 2.85%
41% 34 $14,330,000 $421,471 $5,370 2.73%
42% 31 $13,155,000 $424,355 $4,979 2.88%
47% 31 $11,515,000 $371,452 $3,696 2.95%
45% 29 $12,885,000 $444,310 $4,642 2.84%
48% 28 $11,630,000 $415,357 $3,301 2.89%
38% 28 $12,040,000 $430,000 $3,632 2.87%
40% 25 $9,575,000 $383,000 $4,597 2.90%
44% 23 $9,605,000 $417,609 $3,288 3.03%
46% 19 $8,745,000 $460,263 $6,319 2.90%
>60% 7 $3,505,000 $500,714 $7,830 2.52%
50-60% 2 $730,000 $365,000 $9,292 3.06%

Sammamish Mortgage Company lent most frequently to those with DTI ratios of 20-30%, with 339 originations. The next most common DTI ratio? 30-36%, with 211 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 772 $314,750,000 $407,707 $4,487 2.85%
Not provided 180 $70,640,000 $392,444 $4,360 2.89%
Asian 134 $60,890,000 $454,403 $4,468 2.89%
American Indian 13 $6,495,000 $499,615 $4,824 2.91%
Asian Indian 13 $4,785,000 $368,077 $3,573 2.85%
Black 11 $4,355,000 $395,909 $4,578 2.90%
Filipino 8 $2,940,000 $367,500 $5,004 2.75%
Chinese 5 $2,755,000 $551,000 $4,897 2.85%
Vietnamese 6 $2,000,000 $333,333 $5,052 2.77%
Other Asian 4 $1,930,000 $482,500 $7,746 2.75%
Native Hawaiian 3 $1,485,000 $495,000 $3,340 2.79%
Japanese 3 $445,000 $148,333 $2,464 2.92%
Korean 1 $405,000 $405,000 $3,647 2.87%

Approval Rates

Total approvals of all applications
97.16%

Sammamish Mortgage Company has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
74.02%

Sammamish Mortgage Company has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 1,153 $473,875,000 $410,993

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,153 $473,875,000 $410,993

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 209 $63,575,000 $304,187 $3,417 2.79%
40-60% 470 $186,660,000 $397,149 $3,719 2.82%
60-80% 316 $146,190,000 $462,627 $5,591 2.95%
80-100% 139 $71,975,000 $517,806 $6,027 2.87%
Over 100% 2 $1,230,000 $615,000 $15,625 2.75%
Under 20% 17 $4,245,000 $249,706 $3,323 2.84%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
SIMMONS FIRST NATIONAL CORPORATION Conventional home mortgage Closing on a mortgage 1 20.0%
SIMMONS FIRST NATIONAL CORPORATION Conventional home mortgage Trouble during payment process 2 40.0%
SIMMONS FIRST NATIONAL CORPORATION Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 2 40.0%