Washington State Bank Mortgage Rates, Fees & Info
Washington, IALEI: 549300L5PI87OOVHD857
Tax ID: 42-0586885
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 loans. Washington State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Iowa City, Fairfield, Pella, Des Moines, and Oskaloosa among others. We have data for 12 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 an above average pick rate when compared to similar lenders.
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Originations
246Origination Dollar Volume (All Markets)
$36,200,000Top 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 |
|---|---|---|---|---|---|
| IOWA CITY, IA (FHA|USDA|VA) | 78 | $10,650,000 | $136,538 | $0 | 0.00% |
| Fairfield, IA (FHA|USDA|VA) | 51 | $6,735,000 | $132,059 | $0 | 0.00% |
| Outside of Metro Areas | 39 | $4,075,000 | $104,487 | $0 | 0.00% |
| Pella, IA (FHA|USDA|VA) | 16 | $4,010,000 | $250,625 | $0 | 0.00% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 16 | $3,820,000 | $238,750 | $0 | 0.00% |
| Oskaloosa, IA (FHA|USDA|VA) | 16 | $2,330,000 | $145,625 | $0 | 0.00% |
| Muscatine, IA (FHA|USDA|VA) | 8 | $1,610,000 | $201,250 | $0 | 0.00% |
| CEDAR RAPIDS, IA (FHA|USDA|VA) | 12 | $1,530,000 | $127,500 | $0 | 0.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $655,000 | $655,000 | $0 | 0.00% |
| Ottumwa, IA (FHA|USDA|VA) | 5 | $345,000 | $69,000 | $0 | 0.00% |
| AMES, IA (FHA|USDA|VA) | 3 | $325,000 | $108,333 | $0 | 0.00% |
| WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 246 | $36,200,000 | $147,154 | $0 | 0.00% |
For 2023, Washington State Bank's most frequently originated type of loan was Conventional, with 246 originations.
Loan Reason
For 2023, Washington State Bank's most frequently cited loan purpose was Home Purchase, with 165 originations. The 2nd most popular reason was Home Improvement, with 36 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 246 | $36,200,000 | $147,154 | $0 | 0.00% |
For 2023, Washington State Bank's most frequently cited loan duration was Other, with 246 originations.
Loan Sizing
2023 saw Washington State Bank place emphasis on $100,000 or less loans with 102 originations, totaling $5,490,000 in origination value.
Applicant Income
Washington State Bank lent most frequently to those with incomes in the $50k-75k range, with 50 originations. The second most popular income band? $100k-150k, with 48 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 246 | $36,200,000 | $147,154 | $0 | 0.00% |
Washington State Bank lent most frequently to those with DTI ratios of Exempt%, with 246 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.74%
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 origination94.31%
Washington State Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 246 | $36,200,000 | $147,154 |