Westwood Mortgage Rates, Fees & Info
SEATTLE, WALEI: 549300JBTQ88S1XGQG53
Tax ID: 91-1465333
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Westwood Mortgage is a smaller mortgage company specializing in Refi, Cash Out Refi, and Home Purchase loans. Westwood Mortgage has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Seattle, Bremerton, Spokane, Wenatchee, and Oak Harbor among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)Westwood Mortgage has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Westwood Mortgage 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.
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 | 6.00% | 12/16/24 |
| 30 Year Conventional Refi | 5.37% | 12/16/24 |
| 30 Year Cash-out Refi | 6.26% | 12/16/24 |
| 30 Year FHA Purchase | 6.34% | 12/16/24 |
| 30 Year VA Purchase | 5.59% | 12/16/24 |
| 15 Year Conventional Refi | 4.87% | 12/16/24 |
| 15 Year Cash-out Refi | 4.87% | 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. | ||
Westwood Mortgage Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Westwood Mortgage. 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
339Origination Dollar Volume (All Markets)
$158,045,000Top 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 |
|---|---|---|---|---|---|
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 290 | $138,320,000 | $476,966 | $5,064 | 3.03% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 5 | $3,155,000 | $631,000 | $8,093 | 2.87% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 8 | $2,240,000 | $280,000 | $5,502 | 3.31% |
| WENATCHEE, WA (FHA|USDA|VA) | 4 | $1,930,000 | $482,500 | $3,296 | 3.28% |
| Oak Harbor, WA (FHA|USDA|VA) | 4 | $1,890,000 | $472,500 | $3,402 | 3.06% |
| Ellensburg, WA (FHA|USDA|VA) | 5 | $1,605,000 | $321,000 | $3,835 | 2.85% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 4 | $1,540,000 | $385,000 | $4,832 | 3.22% |
| Outside of Metro Areas | 3 | $1,425,000 | $475,000 | $5,391 | 3.12% |
| Pullman, WA (FHA|USDA|VA) | 4 | $1,310,000 | $327,500 | $9,065 | 3.47% |
| BELLINGHAM, WA (FHA|USDA|VA) | 3 | $1,255,000 | $418,333 | $2,930 | 2.92% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 2 | $1,000,000 | $500,000 | $3,966 | 2.75% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 2 | $840,000 | $420,000 | $3,942 | 3.31% |
| WALLA WALLA, WA (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $4,232 | 3.19% |
| Port Angeles, WA (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $5,685 | 3.38% |
| Aberdeen, WA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,843 | 3.13% |
| Centralia, WA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,467 | 2.75% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against WESTWOOD MORTGAGE based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 1682
Similarity Rank: 2037
Similarity Rank: 2352
Similarity Rank: 2550
Similarity Rank: 2560
Similarity Rank: 2590
Similarity Rank: 2850
Similarity Rank: 2961
Similarity Rank: 3224
Similarity Rank: 3933
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 323 | $148,175,000 | $458,746 | $4,901 | 3.06% |
| VA | 15 | $9,315,000 | $621,000 | $7,961 | 2.61% |
| FHA | 1 | $555,000 | $555,000 | $14,318 | 3.63% |
For 2021, Westwood Mortgage's most frequently originated type of loan was Conventional, with 323 originations. Their 2nd most popular type was VA, with 15 originations.
Loan Reason
For 2021, Westwood Mortgage's most frequently cited loan purpose was Refi, with 168 originations. The 2nd most popular reason was Cash Out Refi, with 108 originations.
Loan Duration/Length
For 2021, Westwood Mortgage's most frequently cited loan duration was 30 Year, with 292 originations. The 2nd most popular length was 15 Year, with 29 originations.
Origination Fees/Closing Costs
Westwood Mortgage's average total fees were $5,364, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 197 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 156 | $72,870,000 | $467,115 |
| 3-4% | 148 | $69,430,000 | $469,122 |
| <2.5% | 34 | $15,310,000 | $450,294 |
| 4-5% | 1 | $435,000 | $435,000 |
During 2021, Westwood Mortgage's average interest rate for loans was 3.11%, while their most frequently originated rate bucket for loans was 2.5-3%, with 156 originations.
Loan Sizing
2021 saw Westwood Mortgage place emphasis on $400k-600k loans with 126 originations, totaling $62,100,000 in origination value.
Applicant Income
Westwood Mortgage lent most frequently to those with incomes in the $150k-250k range, with 113 originations. The second most popular income band? $100k-150k, with 89 originations.
Applicant Debt to Income Ratio
Westwood Mortgage lent most frequently to those with DTI ratios of 20-30%, with 94 originations. The next most common DTI ratio? 30-36%, with 57 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.31%
Westwood Mortgage has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination82.60%
Westwood Mortgage has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 339 | $158,045,000 | $466,209 |