Industrial Cu Of Whatcom County Mortgage Rates, Fees & Info

Bellingham, WA

LEI: 549300DJT1WS6SELJS28

Tax ID: 91-0587877

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Industrial Cu Of Whatcom County is a smaller mortgage company specializing in Cash Out Refi and Refi loans. Industrial Cu Of Whatcom County has a high proportion of conventional loans. Their top (well, only) market is Bellingham.

    Industrial Cu Of Whatcom County has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Industrial Cu Of Whatcom County is typically a low 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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    Originations

    174

    Origination Dollar Volume (All Markets)

    $30,950,000

    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
    Outside of Metro Areas 168 $30,050,000 $178,869 $1,872 4.39%
    BELLINGHAM, WA (FHA|USDA|VA) 6 $900,000 $150,000 $0 0.00%
    Industrial Cu Of Whatcom County's top markets include and Bellingham among others.

    Their top states include:
  • Washington (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against INDUSTRIAL CU OF WHATCOM COUNTY based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Boeing Employees Credit Union
    Similarity Rank: 172
    WHATCOM EDUCATIONAL CREDIT UNION
    Similarity Rank: 252
    Peoples Bank
    Similarity Rank: 448
    Heritage Bank
    Similarity Rank: 792
    Bank of the Pacific
    Similarity Rank: 810
    Banner Bank
    Similarity Rank: 2160
    MID AMERICA MORTGAGE, INC.
    Similarity Rank: 2220
    Washington Federal Bank
    Similarity Rank: 3705
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY
    Similarity Rank: 4230
    U.S. Bank
    Similarity Rank: 4926

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 174 $30,950,000 $177,874 $1,807 4.39%

    For 2018, Industrial Cu Of Whatcom County's most frequently originated type of loan was Conventional, with 174 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 107 $18,075,000 $168,925 $1,776 4.37%
    Refi 36 $7,400,000 $205,556 $1,570 4.36%
    Home Purchase 25 $4,895,000 $195,800 $2,189 4.50%
    Home Improvement 4 $490,000 $122,500 $2,575 3.56%
    Other 2 $90,000 $45,000 $1,627 5.63%

    For 2018, Industrial Cu Of Whatcom County's most frequently cited loan purpose was Cash Out Refi, with 107 originations. The 2nd most popular reason was Refi, with 36 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30+ year 86 $21,080,000 $245,116 $1,967 4.15%
    15 Year 72 $7,400,000 $102,778 $1,661 4.72%
    30 Year 10 $1,750,000 $175,000 $1,715 4.16%
    Other 4 $490,000 $122,500 $1,251 4.77%
    20 Year 2 $230,000 $115,000 $1,691 3.73%

    For 2018, Industrial Cu Of Whatcom County's most frequently cited loan duration was 30+ year, with 86 originations. The 2nd most popular length was 15 Year, with 72 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 89 $18,125,000 $203,652
    $<1k 69 $8,695,000 $126,014
    $2k-3k 9 $1,585,000 $176,111
    $3k-4k 5 $1,555,000 $311,000
    $5k+ 2 $990,000 $495,000

    Industrial Cu Of Whatcom County's average total fees were $1,715, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 89 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 72 $14,600,000 $202,778
    3-4% 60 $12,530,000 $208,833
    5-6% 25 $1,755,000 $70,200
    6-7% 5 $335,000 $67,000

    During 2018, Industrial Cu Of Whatcom County's average interest rate for loans was 4.16%, while their most frequently originated rate bucket for loans was 4-5%, with 72 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 65 $17,065,000 $262,538 $1,965 4.17%
    $100,000 or less 52 $2,850,000 $54,808 $1,409 4.96%
    $100k-200k 49 $7,425,000 $151,531 $1,736 4.17%
    $400k-600k 8 $3,610,000 $451,250 $3,495 3.99%

    2018 saw Industrial Cu Of Whatcom County place emphasis on $200k-400k loans with 65 originations, totaling $17,065,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 60 $8,690,000 $144,833 $1,653 4.29%
    $50k-75k 36 $6,770,000 $188,056 $1,550 4.46%
    $75k-100k 36 $6,210,000 $172,500 $2,067 4.48%
    $100k-150k 33 $6,635,000 $201,061 $1,844 4.41%
    $150k-250k 8 $2,220,000 $277,500 $2,695 4.30%
    $250k+ 1 $425,000 $425,000 $2,363 4.23%

    Industrial Cu Of Whatcom County lent most frequently to those with incomes in the $50k or less range, with 60 originations. The second most popular income band? $50k-75k, with 36 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 40 $7,070,000 $176,750 $1,875 4.35%
    30-36% 38 $6,860,000 $180,526 $1,887 4.25%
    <20% 22 $3,810,000 $173,182 $1,523 4.14%
    50-60% 17 $3,155,000 $185,588 $1,487 4.53%
    38% 11 $1,905,000 $173,182 $1,605 4.38%
    41% 5 $665,000 $133,000 $1,374 4.42%
    36% 5 $325,000 $65,000 $1,202 5.15%
    37% 5 $1,155,000 $231,000 $3,629 4.16%
    39% 5 $895,000 $179,000 $1,797 4.25%
    >60% 4 $1,010,000 $252,500 $1,157 4.30%
    44% 4 $350,000 $87,500 $830 5.17%
    45% 4 $540,000 $135,000 $2,125 4.49%
    47% 4 $810,000 $202,500 $1,401 5.22%
    40% 3 $915,000 $305,000 $4,047 4.77%
    43% 3 $575,000 $191,667 $2,305 4.26%
    48% 2 $390,000 $195,000 $2,408 4.13%
    46% 1 $335,000 $335,000 $2,144 4.91%
    42% 1 $185,000 $185,000 $3,268 4.25%

    Industrial Cu Of Whatcom County lent most frequently to those with DTI ratios of 20-30%, with 40 originations. The next most common DTI ratio? 30-36%, with 38 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 165 $29,435,000 $178,394 $1,827 4.39%
    American Indian 3 $615,000 $205,000 $1,309 4.27%
    Black 2 $350,000 $175,000 $2,126 4.43%
    Asian 2 $300,000 $150,000 $1,475 4.12%
    Native Hawaiian or Islander 1 $195,000 $195,000 $0 3.75%
    Not provided 1 $55,000 $55,000 $1,769 5.25%

    Approval Rates

    Total approvals of all applications
    93.23%

    Industrial Cu Of Whatcom County has an average approval rate.

    Pick Rate

    Approvals leading to origination
    97.13%

    Industrial Cu Of Whatcom County has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    525.0 1 $45,000 $45,000
    NA 173 $30,905,000 $178,642

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 5 $965,000 $193,000
    Single Family (1-4 Units):Site-Built 169 $29,985,000 $177,426

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 27 $3,035,000 $112,407 $1,693 4.44%
    40-60% 30 $6,350,000 $211,667 $2,180 4.02%
    60-80% 69 $15,955,000 $231,232 $1,834 4.31%
    80-100% 18 $4,280,000 $237,778 $1,873 4.33%
    Under 20% 30 $1,330,000 $44,333 $1,435 4.95%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Integrity First Financial Group VA mortgage Closing on a mortgage 1 100.0%