Bank Of The Pacific Mortgage Rates, Fees & Info
Aberdeen, WALEI: 549300MP3KK77THHQT36
Tax ID: 91-1069728
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Mortgage Data
Review & Overview
Bank Of The Pacific is a smaller bank specializing in Home Purchase loans. Bank Of The Pacific 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: Portland, Astoria, Bellingham, Aberdeen, and Olympia among others. We have data for 23 markets. (Some data included below & more in-depth data is available with an active subscription.)Bank Of The Pacific 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. Bank Of The Pacific 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.49% | 9/25/23 |
| 30 Year Conventional Refi | 6.55% | 9/25/23 |
| 30 Year Cash-out Refi | 6.73% | 9/25/23 |
| 30 Year FHA Purchase | 6.96% | 9/25/23 |
| 30 Year VA Purchase | 6.13% | 9/25/23 |
| 30 Year VA Refi | 6.27% | 9/25/23 |
| 30 Year USDA Purchase | 6.27% | 9/25/23 |
| 15 Year Conventional Purchase | 6.18% | 9/25/23 |
| 15 Year Conventional Refi | 6.32% | 9/25/23 |
| 15 Year Cash-out Refi | 6.32% | 9/25/23 |
| 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. | ||
Bank Of The Pacific Mortgage Calculator
Your Estimates
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This is not an official calculator from Bank Of The Pacific. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
255Origination Dollar Volume (All Markets)
$107,575,000Awards
Bank of the Pacific - 2022
Bank of the Pacific is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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Relative Rate
Bank Of The Pacific's average 30 year fixed mortgage rate was
4.63%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.13%.
Relative Fees (Closing Costs)
Bank Of The Pacific's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,399.
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 |
|---|---|---|---|---|---|
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 21 | $19,795,000 | $942,619 | $8,121 | 4.64% |
| Astoria, OR (FHA|USDA|VA) | 32 | $19,190,000 | $599,688 | $7,576 | 4.71% |
| BELLINGHAM, WA (FHA|USDA|VA) | 48 | $18,110,000 | $377,292 | $4,301 | 4.19% |
| Aberdeen, WA (FHA|USDA|VA) | 51 | $11,195,000 | $219,510 | $4,817 | 5.20% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 27 | $10,715,000 | $396,852 | $8,356 | 4.33% |
| SALEM, OR (FHA|USDA|VA) | 10 | $7,150,000 | $715,000 | $8,763 | 5.03% |
| Outside of Metro Areas | 23 | $5,315,000 | $231,087 | $4,093 | 4.63% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 7 | $2,655,000 | $379,286 | $3,928 | 4.34% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 7 | $2,225,000 | $317,857 | $3,994 | 4.89% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 2 | $1,800,000 | $900,000 | $10,006 | 4.13% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 6 | $1,790,000 | $298,333 | $6,539 | 4.44% |
| BEND, OR (FHA|USDA|VA) | 1 | $945,000 | $945,000 | $5,418 | 4.63% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 2 | $910,000 | $455,000 | $0 | 5.81% |
| Centralia, WA (FHA|USDA|VA) | 3 | $835,000 | $278,333 | $3,289 | 4.66% |
| EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) | 2 | $760,000 | $380,000 | $4,073 | 6.13% |
| Shelton, WA (FHA|USDA|VA) | 3 | $735,000 | $245,000 | $7,860 | 4.83% |
| MEDFORD, OR (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $4,030 | 3.50% |
| Oak Harbor, WA (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $7,010 | 5.12% |
| Outside of Metro Areas | 2 | $560,000 | $280,000 | $4,577 | 5.81% |
| CORVALLIS, OR (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $0 | 4.00% |
| YAKIMA, WA (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $0 | 4.56% |
| Fernley, NV (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $8,377 | 3.75% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $4,738 | 5.38% |
Similar Lenders
We use machine learning to identify the top lenders compared against Bank of the Pacific based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 227 | $96,465,000 | $424,956 | $4,780 | 4.72% |
| FHA | 14 | $4,850,000 | $346,429 | $9,720 | 4.50% |
| VA | 14 | $6,260,000 | $447,143 | $13,497 | 4.05% |
For 2022, Bank Of The Pacific's most frequently originated type of loan was Conventional, with 227 originations. Their 2nd most popular type was FHA, with 14 originations.
Loan Reason
For 2022, Bank Of The Pacific's most frequently cited loan purpose was Home Purchase, with 152 originations. The 2nd most popular reason was Cash Out Refi, with 53 originations.
Loan Duration/Length
For 2022, Bank Of The Pacific's most frequently cited loan duration was 30 Year, with 188 originations. The 2nd most popular length was 10 Year, with 27 originations.
Origination Fees/Closing Costs
Bank Of The Pacific's average total fees were $6,399, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 88 originations.
Interest Rates
During 2022, Bank Of The Pacific's average interest rate for loans was 4.63%, while their most frequently originated rate bucket for loans was 4-5%, with 74 originations.
Loan Sizing
2022 saw Bank Of The Pacific place emphasis on $200k-400k loans with 101 originations, totaling $30,705,000 in origination value.
Applicant Income
Bank Of The Pacific lent most frequently to those with incomes in the $150k-250k range, with 60 originations. The second most popular income band? $100k-150k, with 52 originations.
Applicant Debt to Income Ratio
Bank Of The Pacific lent most frequently to those with DTI ratios of 30-36%, with 45 originations. The next most common DTI ratio? 20-30%, with 37 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.32%
Bank Of The Pacific has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination29.41%
Bank Of The Pacific has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 255 | $107,575,000 | $421,863 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| BANK OF NEW YORK MELLON CORPORATION, THE | Reverse mortgage | Struggling to pay mortgage | 1 | 100.0% |