Solarity Credit Union Mortgage Rates, Fees & Info

Yakima, WA

LEI: 549300GGB04TG4AH1377

Tax ID: 91-0717156

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Solarity Credit Union is a smaller credit union specializing in Cash Out Refi, 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, Ellensburg, Portland, and Olympia among others. We have data for 28 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 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.

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

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.61% 12/16/24
    30 Year Conventional Refi 6.60% 12/16/24
    30 Year Cash-out Refi 6.70% 12/16/24
    30 Year USDA Purchase 7.72% 12/16/24
    15 Year Conventional Purchase 5.88% 12/16/24
    15 Year Conventional Refi 6.20% 12/16/24
    15 Year Cash-out Refi 6.20% 12/16/24
    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

    933

    Origination Dollar Volume (All Markets)

    $263,615,000

    Awards

    Solarity Credit Union 30 Year Conventional Loans silver Solarity Credit Union 30 Year Conventional Loans silver
    Show all (2) 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
    YAKIMA, WA (FHA|USDA|VA) 772 $158,440,000 $205,233 $3,456 2.92%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 19 $19,305,000 $1,016,053 $4,946 3.20%
    Ellensburg, WA (FHA|USDA|VA) 56 $16,520,000 $295,000 $4,014 2.95%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 7 $13,165,000 $1,880,714 $3,105 3.05%
    OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 7 $7,405,000 $1,057,857 $2,137 3.36%
    BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 2 $6,430,000 $3,215,000 $7,604 3.31%
    Klamath Falls, OR (FHA|USDA|VA) 1 $5,805,000 $5,805,000 $0 3.25%
    Hermiston-Pendleton, OR (FHA|USDA|VA) 1 $5,505,000 $5,505,000 $0 3.50%
    KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 19 $5,185,000 $272,895 $5,568 2.91%
    EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 1 $3,955,000 $3,955,000 $0 3.25%
    Ontario, OR-ID (FHA|USDA|VA) 1 $3,365,000 $3,365,000 $0 3.95%
    WENATCHEE, WA (FHA|USDA|VA) 6 $2,410,000 $401,667 $4,952 3.10%
    BOISE CITY, ID (FHA|USDA|VA) 2 $2,070,000 $1,035,000 $7,773 3.06%
    SPRINGFIELD, IL (FHA|USDA|VA) 1 $1,925,000 $1,925,000 $0 3.50%
    Oak Harbor, WA (FHA|USDA|VA) 1 $1,805,000 $1,805,000 $0 3.40%
    Outside of Metro Areas 9 $1,645,000 $182,778 $3,591 2.87%
    Moses Lake, WA (FHA|USDA|VA) 6 $1,350,000 $225,000 $4,726 2.90%
    SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 4 $1,280,000 $320,000 $5,149 2.94%
    Centralia, WA (FHA|USDA|VA) 3 $1,275,000 $425,000 $4,150 3.07%
    MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 2 $1,040,000 $520,000 $3,987 3.00%
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 2 $750,000 $375,000 $8,580 2.75%
    Port Angeles, WA (FHA|USDA|VA) 2 $700,000 $350,000 $5,208 4.16%
    Aberdeen, WA (FHA|USDA|VA) 4 $620,000 $155,000 $1,672 3.06%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $485,000 $485,000 $9,385 2.75%
    Pullman, WA (FHA|USDA|VA) 1 $365,000 $365,000 $6,458 2.88%
    LINCOLN, NE (FHA|USDA|VA) 1 $285,000 $285,000 $6,090 2.88%
    WALLA WALLA, WA (FHA|USDA|VA) 1 $285,000 $285,000 $0 4.04%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $245,000 $245,000 $6,090 2.63%
    Solarity Credit Union's top markets include Yakima, Seattle, Ellensburg, Portland, and Olympia among others.

    Their top states include:
  • Washington (FHA|USDA|VA)
  • Oregon (FHA|USDA|VA)
  • Idaho (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Nevada (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: 360
    Cashmere Valley Bank
    Similarity Rank: 688
    Yakima Federal Savings and Loan Association
    Similarity Rank: 905
    Bank of the Pacific
    Similarity Rank: 1682
    SOUND
    Similarity Rank: 2037
    Potlatch No. 1 Financial Credit Union
    Similarity Rank: 2088
    America's Credit Union
    Similarity Rank: 2352
    GLOBAL
    Similarity Rank: 2444
    VERITY
    Similarity Rank: 2550
    LO, INC.
    Similarity Rank: 2560

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 932 $263,370,000 $282,586 $3,615 2.94%
    USDA 1 $245,000 $245,000 $5,073 2.63%

    For 2021, Solarity Credit Union's most frequently originated type of loan was Conventional, with 932 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 407 $130,205,000 $319,914 $3,201 3.02%
    Refi 297 $52,775,000 $177,694 $3,148 2.73%
    Home Purchase 207 $77,185,000 $372,874 $5,518 3.09%
    Home Improvement 12 $1,990,000 $165,833 $1,524 2.85%
    Other 10 $1,460,000 $146,000 $2,021 3.04%

    For 2021, Solarity Credit Union's most frequently cited loan purpose was Cash Out Refi, with 407 originations. The 2nd most popular reason was Refi, with 297 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 493 $112,755,000 $228,712 $5,003 3.07%
    15 Year 307 $52,325,000 $170,440 $1,888 2.68%
    10 Year 78 $74,470,000 $954,744 $761 3.20%
    20 Year 50 $7,600,000 $152,000 $4,018 2.87%
    Other 5 $16,465,000 $3,293,000 $0 3.25%

    For 2021, Solarity Credit Union's most frequently cited loan duration was 30 Year, with 493 originations. The 2nd most popular length was 15 Year, with 307 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 223 $38,155,000 $171,099
    $<1k 213 $34,505,000 $161,995
    $3k-4k 143 $35,455,000 $247,937
    $1k-2k 118 $13,560,000 $114,915
    $4k-5k 70 $22,580,000 $322,571
    $5k+ 46 $19,670,000 $427,609

    Solarity Credit Union's average total fees were $5,003, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 223 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 510 $97,310,000 $190,804
    3-4% 269 $140,535,000 $522,435
    <2.5% 135 $20,865,000 $154,556
    4-5% 19 $4,905,000 $258,158

    During 2021, Solarity Credit Union's average interest rate for loans was 3.07%, while their most frequently originated rate bucket for loans was 2.5-3%, with 510 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 410 $60,830,000 $148,366 $2,958 2.85%
    $200k-400k 331 $89,225,000 $269,562 $4,659 3.04%
    $100,000 or less 116 $8,830,000 $76,121 $1,501 2.75%
    $400k-600k 38 $17,870,000 $470,263 $6,943 3.06%
    $1MM+ 29 $79,255,000 $2,732,931 $11,458 3.47%
    $600k-1MM 9 $7,605,000 $845,000 $10,043 3.67%

    2021 saw Solarity Credit Union place emphasis on $100k-200k loans with 410 originations, totaling $60,830,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 243 $33,975,000 $139,815 $3,207 2.87%
    $50k-75k 226 $41,110,000 $181,903 $3,587 2.90%
    $100k-150k 162 $39,690,000 $245,000 $3,645 2.92%
    $75k-100k 149 $29,105,000 $195,336 $3,823 2.91%
    $150k-250k 95 $27,265,000 $287,000 $4,322 3.03%
    $250k+ 19 $9,705,000 $510,789 $5,230 3.05%

    Solarity Credit Union lent most frequently to those with incomes in the $50k or less range, with 243 originations. The second most popular income band? $50k-75k, with 226 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 209 $41,765,000 $199,833 $3,535 2.85%
    30-36% 182 $34,890,000 $191,703 $3,608 2.84%
    <20% 97 $17,415,000 $179,536 $2,667 2.80%
    42% 44 $8,930,000 $202,955 $3,174 3.04%
    39% 42 $8,150,000 $194,048 $4,020 2.97%
    38% 36 $7,620,000 $211,667 $3,210 3.17%
    37% 34 $6,190,000 $182,059 $2,845 2.93%
    36% 33 $5,795,000 $175,606 $3,203 3.14%
    40% 32 $7,460,000 $233,125 $3,637 3.03%
    44% 31 $5,385,000 $173,710 $4,621 2.89%
    43% 28 $6,180,000 $220,714 $4,792 2.89%
    41% 27 $6,175,000 $228,704 $3,644 3.00%
    49% 26 $5,060,000 $194,615 $4,613 2.93%
    47% 21 $5,555,000 $264,524 $5,537 3.05%
    45% 17 $3,225,000 $189,706 $4,608 2.86%
    46% 16 $3,210,000 $200,625 $4,253 3.03%
    48% 13 $2,875,000 $221,154 $4,949 2.87%
    50-60% 1 $115,000 $115,000 $0 2.75%

    Solarity Credit Union lent most frequently to those with DTI ratios of 20-30%, with 209 originations. The next most common DTI ratio? 30-36%, with 182 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 721 $145,225,000 $201,422 $3,666 2.92%
    Not applicable 39 $82,765,000 $2,122,179 $0 3.60%
    Not provided 139 $27,285,000 $196,295 $3,463 2.87%
    Asian 14 $5,210,000 $372,143 $2,942 3.05%
    American Indian 12 $2,070,000 $172,500 $3,685 2.98%
    Black 5 $675,000 $135,000 $4,721 2.50%
    Native Hawaiian or Islander 2 $280,000 $140,000 $0 3.06%
    Filipino 1 $105,000 $105,000 $937 2.75%

    Approval Rates

    Total approvals of all applications
    81.52%

    Solarity Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    83.82%

    Solarity Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 933 $263,615,000 $282,546

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    933 $263,615,000 $282,546

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 150 $17,400,000 $116,000 $1,687 2.73%
    40-60% 264 $49,070,000 $185,871 $3,199 2.80%
    60-80% 345 $146,975,000 $426,014 $4,186 3.10%
    80-100% 158 $49,170,000 $311,203 $5,466 3.03%
    Under 20% 16 $1,000,000 $62,500 $307 2.87%