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, Refi, and Home Purchase loans. Industrial Cu Of Whatcom County has a high proportion of conventional loans. Their top two markets are Bellingham and Oak Harbor .

    Industrial Cu Of Whatcom County 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. 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.

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

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    Originations

    65

    Origination Dollar Volume (All Markets)

    $12,625,000

    Awards

    INDUSTRIAL CU OF WHATCOM COUNTY 30 Year Conventional Loans gold INDUSTRIAL CU OF WHATCOM COUNTY 30 Year Conventional Loans bronze INDUSTRIAL CU OF WHATCOM COUNTY 30 Year Conventional Loans gold INDUSTRIAL CU OF WHATCOM COUNTY 30 Year Conventional Loans gold
    Show all (4) awards

    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
    BELLINGHAM, WA (FHA|USDA|VA) 61 $11,915,000 $195,328 $2,325 4.29%
    Outside of Metro Areas 2 $360,000 $180,000 $2,983 4.38%
    Oak Harbor, WA (FHA|USDA|VA) 2 $350,000 $175,000 $2,333 4.41%
    Industrial Cu Of Whatcom County's top markets include Bellingham and Oak Harbor 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.

    INDUSTRIAL CU OF WHATCOM COUNTY
    Similarity Rank: 9
    BKCO MORTGAGE, LLC
    Similarity Rank: 66
    WHATCOM EDUCATIONAL CREDIT UNION
    Similarity Rank: 294
    Peoples Bank
    Similarity Rank: 846
    Bank of the Pacific
    Similarity Rank: 999
    Alaska USA Mortgage Company LLC
    Similarity Rank: 1015
    Heritage Bank
    Similarity Rank: 1260
    Banner Bank
    Similarity Rank: 2528
    Boeing Employees Credit Union
    Similarity Rank: 2610
    HomeStreet Bank
    Similarity Rank: 4576

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 65 $12,625,000 $194,231 $2,346 4.29%

    For 2019, Industrial Cu Of Whatcom County's most frequently originated type of loan was Conventional, with 65 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 42 $6,740,000 $160,476 $2,077 4.50%
    Refi 12 $2,920,000 $243,333 $2,569 3.80%
    Home Purchase 10 $2,940,000 $294,000 $3,293 3.72%
    Home Improvement 1 $25,000 $25,000 $1,478 6.17%

    For 2019, Industrial Cu Of Whatcom County's most frequently cited loan purpose was Cash Out Refi, with 42 originations. The 2nd most popular reason was Refi, with 12 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 32 $8,280,000 $258,750 $2,613 3.82%
    15 Year 29 $3,775,000 $130,172 $2,208 4.71%
    30+ year 2 $420,000 $210,000 $1,514 5.19%
    10 Year 1 $15,000 $15,000 $0 7.02%
    20 Year 1 $135,000 $135,000 $1,785 0.00%

    For 2019, Industrial Cu Of Whatcom County's most frequently cited loan duration was 30 Year, with 32 originations. The 2nd most popular length was 15 Year, with 29 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 64 $12,530,000 $195,781
    $1k-2k 1 $95,000 $95,000

    Industrial Cu Of Whatcom County's average total fees were $2,613, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 64 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 34 $8,810,000 $259,118
    4-5% 17 $2,625,000 $154,412
    6-7% 5 $195,000 $39,000
    5-6% 4 $480,000 $120,000
    7-8% 2 $80,000 $40,000

    During 2019, Industrial Cu Of Whatcom County's average interest rate for loans was 3.82%, while their most frequently originated rate bucket for loans was 3-4%, with 34 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 26 $7,300,000 $280,769 $2,674 3.74%
    $100,000 or less 19 $1,015,000 $53,421 $1,319 5.33%
    $100k-200k 16 $2,500,000 $156,250 $2,376 4.11%
    $400k-600k 4 $1,810,000 $452,500 $4,959 3.76%

    2019 saw Industrial Cu Of Whatcom County place emphasis on $200k-400k loans with 26 originations, totaling $7,300,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 23 $5,495,000 $238,913 $2,560 4.13%
    $50k-75k 15 $3,125,000 $208,333 $2,395 4.19%
    $50k or less 15 $1,705,000 $113,667 $1,713 4.58%
    $150k-250k 6 $1,310,000 $218,333 $3,081 4.49%
    $100k-150k 4 $500,000 $125,000 $2,170 4.58%
    $250k+ 2 $490,000 $245,000 $2,388 3.71%

    Industrial Cu Of Whatcom County lent most frequently to those with incomes in the $75k-100k range, with 23 originations. The second most popular income band? $50k-75k, with 15 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 12 $2,120,000 $176,667 $1,731 4.06%
    30-36% 11 $2,155,000 $195,909 $2,248 4.61%
    <20% 9 $945,000 $105,000 $1,800 4.55%
    50-60% 7 $1,485,000 $212,143 $2,440 4.41%
    47% 4 $710,000 $177,500 $2,574 3.79%
    39% 4 $820,000 $205,000 $2,596 4.83%
    >60% 3 $705,000 $235,000 $2,813 4.21%
    41% 2 $230,000 $115,000 $1,657 3.80%
    44% 2 $750,000 $375,000 $2,977 3.53%
    46% 2 $680,000 $340,000 $4,439 3.78%
    40% 2 $520,000 $260,000 $3,108 3.76%
    48% 2 $480,000 $240,000 $3,283 3.95%
    37% 1 $25,000 $25,000 $1,478 6.17%
    42% 1 $305,000 $305,000 $2,578 3.31%
    43% 1 $235,000 $235,000 $2,893 3.85%
    36% 1 $75,000 $75,000 $2,023 6.20%
    49% 1 $385,000 $385,000 $4,669 3.94%

    Industrial Cu Of Whatcom County lent most frequently to those with DTI ratios of 20-30%, with 12 originations. The next most common DTI ratio? 30-36%, with 11 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 65 $12,625,000 $194,231 $2,346 4.29%

    Approval Rates

    Total approvals of all applications
    89.09%

    Industrial Cu Of Whatcom County has an average approval rate.

    Pick Rate

    Approvals leading to origination
    49.23%

    Industrial Cu Of Whatcom County 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 65 $12,625,000 $194,231

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 2 $60,000 $30,000
    Single Family (1-4 Units):Site-Built 63 $12,565,000 $199,444

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 10 $1,380,000 $138,000 $2,008 4.33%
    40-60% 15 $2,915,000 $194,333 $2,370 4.06%
    60-80% 24 $6,880,000 $286,667 $2,982 3.96%
    80-100% 3 $835,000 $278,333 $2,238 3.80%
    Under 20% 13 $615,000 $47,308 $1,427 5.20%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Integrity Financial Corp. DBA US Loan Servicing Other type of mortgage Closing on a mortgage 1 100.0%