Washington State Bank Mortgage Rates, Fees & Info

Washington, LA

LEI: 549300KNRT5UGNCSXM31

Tax ID: 72-0347070

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

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Mortgage Data

Review & Overview

Washington State Bank is a smaller bank specializing in Home Purchase and Refi loans. Washington State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Lafayette, Hammond, Baton Rouge, Opelousas, and Monroe among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

Washington State Bank 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.

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Originations

47

Origination Dollar Volume (All Markets)

$6,715,000

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
LAFAYETTE, LA (FHA|USDA|VA) 13 $1,735,000 $133,462 $0 0.00%
HAMMOND, LA (FHA|USDA|VA) 1 $1,385,000 $1,385,000 $0 0.00%
BATON ROUGE, LA (FHA|USDA|VA) 2 $1,040,000 $520,000 $0 0.00%
Opelousas, LA (FHA|USDA|VA) 13 $955,000 $73,462 $0 0.00%
Outside of Metro Areas 12 $820,000 $68,333 $0 0.00%
MONROE, LA (FHA|USDA|VA) 2 $270,000 $135,000 $0 0.00%
ALEXANDRIA, LA (FHA|USDA|VA) 2 $230,000 $115,000 $0 0.00%
Fort Polk South, LA (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
Jennings, LA (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
Washington State Bank's top markets include Lafayette, Hammond, Baton Rouge, Opelousas, and Monroe among others.

Their top states include:
  • Louisiana (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 47 $6,715,000 $142,872 $0 0.00%

    For 2023, Washington State Bank's most frequently originated type of loan was Conventional, with 47 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 31 $4,565,000 $147,258 $0 0.00%
    Refi 12 $1,970,000 $164,167 $0 0.00%
    Home Improvement 4 $180,000 $45,000 $0 0.00%

    For 2023, Washington State Bank's most frequently cited loan purpose was Home Purchase, with 31 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
    Other 47 $6,715,000 $142,872 $0 0.00%

    For 2023, Washington State Bank's most frequently cited loan duration was Other, with 47 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 27 $1,445,000 $53,519 $0 0.00%
    $100k-200k 16 $2,160,000 $135,000 $0 0.00%
    $1MM+ 2 $2,390,000 $1,195,000 $0 0.00%
    $200k-400k 1 $205,000 $205,000 $0 0.00%
    $400k-600k 1 $515,000 $515,000 $0 0.00%

    2023 saw Washington State Bank place emphasis on $100,000 or less loans with 27 originations, totaling $1,445,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 8 $270,000 $33,750 $0 0.00%
    $75k-100k 7 $795,000 $113,571 $0 0.00%
    $50k-75k 4 $210,000 $52,500 $0 0.00%
    $100k-150k 3 $295,000 $98,333 $0 0.00%
    $250k+ 3 $1,195,000 $398,333 $0 0.00%
    $150k-250k 1 $45,000 $45,000 $0 0.00%

    Washington State Bank lent most frequently to those with incomes in the $50k or less range, with 8 originations. The second most popular income band? $75k-100k, with 7 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 47 $6,715,000 $142,872 $0 0.00%

    Washington State Bank lent most frequently to those with DTI ratios of Exempt%, with 47 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 21 $3,905,000 $185,952 $0 0.00%
    White 18 $1,560,000 $86,667 $0 0.00%
    Black 8 $1,250,000 $156,250 $0 0.00%

    Approval Rates

    Total approvals of all applications
    98.36%

    Washington State Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    74.47%

    Washington State Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 47 $6,715,000 $142,872

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    47 $6,715,000 $142,872