Solarity Credit Union Mortgage Rates, Fees & Info

Yakima, WA

LEI: 549300GGB04TG4AH1377

Tax ID: 91-0717156

5 stars - Updated: 2/26/24 - out of 5 stars, based on 20 reviews

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

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Mortgage Data

Review & Overview

Solarity Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Solarity Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Yakima, Seattle, Boise City, Ellensburg, and Mount Vernon among others. We have data for 31 markets. (Some data included below & more in-depth data is available with an active subscription.)

Solarity Credit Union 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. Solarity Credit Union 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.

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
30 Year Conventional Purchase 6.61% 2/26/24
30 Year Conventional Refi 6.60% 2/26/24
30 Year Cash-out Refi 6.70% 2/26/24
30 Year USDA Purchase 7.72% 2/26/24
15 Year Conventional Purchase 5.88% 2/26/24
15 Year Conventional Refi 6.20% 2/26/24
15 Year Cash-out Refi 6.20% 2/26/24
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.

Solarity Credit Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Solarity Credit Union. 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

398

Origination Dollar Volume (All Markets)

$154,450,000

Awards

Solarity Credit Union 30 Year Conventional Loans silver Solarity Credit Union 30 Year Conventional Loans silver
Show all (2) awards

Relative Rate

Solarity Credit Union's average 30 year fixed mortgage rate was 4.77%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of 0.01%.

Relative Fees (Closing Costs)

Solarity Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $4,101.

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

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
YAKIMA, WA (FHA|USDA|VA) 311 $69,145,000 $222,331 $2,613 4.44%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 17 $29,545,000 $1,737,941 $3,892 3.94%
BOISE CITY, ID (FHA|USDA|VA) 1 $12,005,000 $12,005,000 $0 3.25%
Ellensburg, WA (FHA|USDA|VA) 18 $9,470,000 $526,111 $2,344 4.01%
MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 2 $4,830,000 $2,415,000 $0 3.56%
Altus, OK (FHA|USDA|VA) 1 $4,105,000 $4,105,000 $0 5.00%
Outside of Metro Areas 5 $3,215,000 $643,000 $3,071 5.05%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $2,455,000 $2,455,000 $0 3.63%
MEDFORD, OR (FHA|USDA|VA) 3 $2,395,000 $798,333 $0 4.25%
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 9 $2,335,000 $259,444 $5,030 4.10%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 3 $1,725,000 $575,000 $0 4.00%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 4 $1,490,000 $372,500 $4,689 3.94%
DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $1,275,000 $1,275,000 $0 3.63%
Paris, TX (FHA|USDA|VA) 1 $1,235,000 $1,235,000 $0 5.35%
Wabash, IN (FHA|USDA|VA) 1 $1,115,000 $1,115,000 $0 3.75%
Prineville, OR (FHA|USDA|VA) 1 $1,025,000 $1,025,000 $0 4.50%
Mountain Home, ID (FHA|USDA|VA) 1 $935,000 $935,000 $0 5.25%
Moses Lake, WA (FHA|USDA|VA) 5 $905,000 $181,000 $238 4.20%
WARNER ROBINS, GA (FHA|USDA|VA) 1 $785,000 $785,000 $0 6.09%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $705,000 $705,000 $0 4.63%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $635,000 $635,000 $0 5.50%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $575,000 $575,000 $5,646 3.50%
Centralia, WA (FHA|USDA|VA) 1 $555,000 $555,000 $4,916 2.63%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $395,000 $395,000 $2,723 7.00%
WALLA WALLA, WA (FHA|USDA|VA) 1 $375,000 $375,000 $5,827 4.50%
Moscow, ID (FHA|USDA|VA) 1 $275,000 $275,000 $3,507 5.75%
BELLINGHAM, WA (FHA|USDA|VA) 1 $255,000 $255,000 $3,133 3.13%
Outside of Metro Areas 1 $245,000 $245,000 $909 3.88%
WENATCHEE, WA (FHA|USDA|VA) 1 $205,000 $205,000 $2,793 5.25%
LEWISTON, ID-WA (FHA|USDA|VA) 1 $155,000 $155,000 $5,188 4.75%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $85,000 $85,000 $0 3.38%
Solarity Credit Union's top markets include Yakima, Seattle, Boise City, Ellensburg, and Mount Vernon among others.

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

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

    SPOKANE FIREFIGHTERS CREDIT UNION
    Similarity Rank: 315
    ALL WESTERN MORTGAGE, INC.
    Similarity Rank: 648
    Cashmere Valley Bank
    Similarity Rank: 860
    Bank of the Pacific
    Similarity Rank: 1334
    Chicago Financial Services, Inc.
    Similarity Rank: 2139
    IVY MORTGAGE, INC.
    Similarity Rank: 2166
    NorthWest Plus Credit Union
    Similarity Rank: 2303
    VERITY
    Similarity Rank: 2400

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 397 $154,265,000 $388,577 $2,692 4.38%
    USDA 1 $185,000 $185,000 $3,896 6.50%

    For 2022, Solarity Credit Union's most frequently originated type of loan was Conventional, with 397 originations. Their 2nd most popular type was USDA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 165 $82,985,000 $502,939 $1,866 4.16%
    Home Purchase 152 $56,130,000 $369,276 $4,068 4.84%
    Refi 59 $12,025,000 $203,814 $1,759 3.78%
    Other 17 $2,815,000 $165,588 $1,369 4.61%
    Home Improvement 5 $495,000 $99,000 $471 4.65%

    For 2022, Solarity Credit Union's most frequently cited loan purpose was Cash Out Refi, with 165 originations. The 2nd most popular reason was Home Purchase, with 152 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 208 $52,860,000 $254,135 $4,101 4.77%
    15 Year 115 $15,645,000 $136,043 $625 3.96%
    10 Year 40 $40,630,000 $1,015,750 $219 4.10%
    Other 21 $41,665,000 $1,984,048 $0 3.75%
    20 Year 12 $2,310,000 $192,500 $4,734 3.85%
    3 Year 1 $405,000 $405,000 $0 4.51%
    5 Year 1 $935,000 $935,000 $0 5.25%

    For 2022, Solarity Credit Union's most frequently cited loan duration was 30 Year, with 208 originations. The 2nd most popular length was 15 Year, with 115 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 136 $18,760,000 $137,941
    $1k-2k 110 $29,190,000 $265,364
    $2k-3k 44 $8,520,000 $193,636
    $4k-5k 16 $4,560,000 $285,000
    $3k-4k 14 $3,270,000 $233,571
    $5k+ 7 $2,795,000 $399,286

    Solarity Credit Union's average total fees were $4,101, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 136 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 147 $83,215,000 $566,088
    4-5% 104 $36,940,000 $355,192
    5-6% 88 $23,920,000 $271,818
    2.5-3% 30 $3,980,000 $132,667
    6-7% 22 $5,200,000 $236,364
    7-8% 4 $780,000 $195,000
    <2.5% 3 $415,000 $138,333

    During 2022, Solarity Credit Union's average interest rate for loans was 4.77%, while their most frequently originated rate bucket for loans was 3-4%, with 147 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 147 $40,535,000 $275,748 $3,942 4.75%
    $100k-200k 118 $16,980,000 $143,898 $2,169 4.22%
    $100,000 or less 70 $4,770,000 $68,143 $696 4.04%
    $1MM+ 25 $70,225,000 $2,809,000 $0 3.87%
    $400k-600k 23 $10,825,000 $470,652 $3,701 4.60%
    $600k-1MM 15 $11,115,000 $741,000 $5,302 4.29%

    2022 saw Solarity Credit Union place emphasis on $200k-400k loans with 147 originations, totaling $40,535,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 113 $19,675,000 $174,115 $2,450 4.30%
    $50k or less 80 $9,590,000 $119,875 $2,267 4.31%
    $75k-100k 77 $16,985,000 $220,584 $3,083 4.51%
    $100k-150k 37 $11,315,000 $305,811 $3,317 4.58%
    $150k-250k 29 $9,425,000 $325,000 $3,402 4.96%
    $250k+ 17 $5,435,000 $319,706 $2,606 4.01%

    Solarity Credit Union lent most frequently to those with incomes in the $50k-75k range, with 113 originations. The second most popular income band? $50k or less, with 80 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 68 $11,720,000 $172,353 $2,078 4.11%
    30-36% 65 $13,605,000 $209,308 $2,463 4.32%
    <20% 26 $4,270,000 $164,231 $1,862 3.87%
    41% 20 $3,290,000 $164,500 $1,853 3.88%
    39% 20 $5,170,000 $258,500 $4,010 4.36%
    42% 20 $4,290,000 $214,500 $2,414 4.80%
    43% 17 $4,865,000 $286,176 $4,093 4.92%
    40% 17 $2,915,000 $171,471 $2,426 4.35%
    38% 17 $3,065,000 $180,294 $1,887 4.52%
    44% 16 $2,990,000 $186,875 $2,713 5.17%
    49% 13 $3,345,000 $257,308 $4,279 5.15%
    37% 13 $2,605,000 $200,385 $2,837 4.56%
    45% 12 $3,070,000 $255,833 $4,233 4.72%
    36% 10 $2,140,000 $214,000 $3,649 4.33%
    47% 9 $2,075,000 $230,556 $3,712 4.83%
    48% 7 $1,935,000 $276,429 $3,545 5.30%
    46% 4 $1,120,000 $280,000 $4,601 4.38%

    Solarity Credit Union lent most frequently to those with DTI ratios of 20-30%, with 68 originations. The next most common DTI ratio? 30-36%, with 65 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 41 $76,815,000 $1,873,537 $0 4.16%
    White 243 $55,835,000 $229,774 $2,790 4.40%
    Not provided 105 $19,985,000 $190,333 $2,512 4.44%
    Asian 5 $1,085,000 $217,000 $3,107 4.30%
    American Indian 4 $730,000 $182,500 $1,553 4.44%

    Approval Rates

    Total approvals of all applications
    72.52%

    Solarity Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    77.64%

    Solarity Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 398 $154,450,000 $388,065

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    398 $154,450,000 $388,065

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 88 $22,420,000 $254,773 $1,036 4.03%
    40-60% 82 $22,630,000 $275,976 $2,222 4.19%
    60-80% 132 $72,380,000 $548,333 $3,835 4.57%
    80-100% 79 $34,015,000 $430,570 $4,065 4.73%
    Under 20% 16 $2,780,000 $173,750 $378 4.17%