Bank Of The Pacific Mortgage Rates, Fees & Info

Aberdeen, WA

LEI: 549300MP3KK77THHQT36

Tax ID: 91-1069728

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

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

    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.

    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 6.49% 10/29/24
    30 Year Conventional Refi 6.55% 10/29/24
    30 Year Cash-out Refi 6.73% 10/29/24
    30 Year FHA Purchase 6.96% 10/29/24
    30 Year VA Purchase 6.13% 10/29/24
    30 Year VA Refi 6.27% 10/29/24
    30 Year USDA Purchase 6.27% 10/29/24
    15 Year Conventional Purchase 6.18% 10/29/24
    15 Year Conventional Refi 6.32% 10/29/24
    15 Year Cash-out Refi 6.32% 10/29/24
    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.

    Bank Of The Pacific Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Bank Of The Pacific. 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

    255

    Origination Dollar Volume (All Markets)

    $107,575,000
    Show all (8) 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
    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%
    Bank Of The Pacific's top markets include Portland, Astoria, Bellingham, Aberdeen, and Olympia among others.

    Their top states include:
  • Washington (FHA|USDA|VA)
  • Oregon (FHA|USDA|VA)
  • Nevada (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Idaho (FHA|USDA|VA)

    • 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.

    People's Community Federal Credit Union
    Similarity Rank: 10
    Olympia Federal Savings & Loan Association
    Similarity Rank: 110
    WHATCOM EDUCATIONAL CREDIT UNION
    Similarity Rank: 558
    SOUND
    Similarity Rank: 625
    Yakima Federal Savings and Loan Association
    Similarity Rank: 700
    OREGONIANS CREDIT UNION
    Similarity Rank: 880
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 1053
    America's Credit Union
    Similarity Rank: 1092
    Wauna Federal Credit Union
    Similarity Rank: 1274
    Qualstar Credit Union
    Similarity Rank: 1518

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 152 $81,300,000 $534,868 $6,547 4.89%
    Cash Out Refi 53 $16,115,000 $304,057 $6,017 4.02%
    Refi 26 $6,630,000 $255,000 $3,186 4.22%
    Home Improvement 15 $1,835,000 $122,333 $1,640 5.47%
    Other 9 $1,695,000 $188,333 $5,028 4.84%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 188 $68,370,000 $363,670 $6,399 4.63%
    10 Year 27 $9,615,000 $356,111 $1,074 5.15%
    15 Year 20 $5,420,000 $271,000 $3,802 3.74%
    Other 9 $13,115,000 $1,457,222 $0 5.60%
    20 Year 7 $1,255,000 $179,286 $2,244 5.41%
    3 Year 3 $7,515,000 $2,505,000 $0 5.38%
    5 Year 1 $2,285,000 $2,285,000 $0 4.25%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 88 $29,490,000 $335,114
    $<1k 33 $7,475,000 $226,515
    $5k+ 23 $10,785,000 $468,913
    $2k-3k 20 $6,160,000 $308,000
    $4k-5k 18 $7,380,000 $410,000
    $3k-4k 15 $4,735,000 $315,667

    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

    Loan Rate Originations Total Value Average Loan
    4-5% 74 $38,820,000 $524,595
    5-6% 65 $31,365,000 $482,538
    3-4% 61 $21,955,000 $359,918
    6-7% 26 $8,300,000 $319,231
    2.5-3% 16 $5,290,000 $330,625
    7-8% 8 $700,000 $87,500
    <2.5% 5 $1,145,000 $229,000

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 101 $30,705,000 $304,010 $5,664 4.50%
    $400k-600k 61 $28,995,000 $475,328 $6,603 4.69%
    $100k-200k 42 $6,550,000 $155,952 $3,725 4.81%
    $100,000 or less 21 $1,075,000 $51,190 $2,454 5.58%
    $600k-1MM 19 $13,395,000 $705,000 $11,556 4.11%
    $1MM+ 11 $26,855,000 $2,441,364 $8,469 4.96%

    2022 saw Bank Of The Pacific place emphasis on $200k-400k loans with 101 originations, totaling $30,705,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 60 $22,600,000 $376,667 $5,986 4.61%
    $100k-150k 52 $18,540,000 $356,538 $6,143 4.45%
    $50k-75k 37 $9,015,000 $243,649 $5,487 4.59%
    $75k-100k 33 $11,395,000 $345,303 $6,955 4.54%
    $250k+ 30 $12,850,000 $428,333 $6,140 5.09%
    $50k or less 17 $1,795,000 $105,588 $3,231 5.08%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 45 $13,885,000 $308,556 $4,867 4.75%
    20-30% 37 $11,355,000 $306,892 $5,537 4.78%
    42% 17 $8,935,000 $525,588 $4,899 4.36%
    36% 13 $3,835,000 $295,000 $4,953 4.56%
    <20% 12 $2,360,000 $196,667 $4,753 4.40%
    40% 12 $3,730,000 $310,833 $6,262 4.52%
    41% 11 $3,785,000 $344,091 $4,802 4.46%
    39% 11 $3,655,000 $332,273 $5,643 4.43%
    38% 10 $3,270,000 $327,000 $5,522 5.07%
    44% 9 $2,745,000 $305,000 $6,486 4.82%
    48% 8 $3,580,000 $447,500 $7,471 4.50%
    37% 8 $2,470,000 $308,750 $3,589 3.31%
    50-60% 7 $2,755,000 $393,571 $9,826 5.39%
    46% 6 $1,990,000 $331,667 $4,676 4.27%
    45% 6 $2,120,000 $353,333 $9,035 4.23%
    43% 6 $2,020,000 $336,667 $6,814 4.42%
    47% 5 $1,135,000 $227,000 $5,149 4.75%
    49% 5 $2,385,000 $477,000 $13,336 4.65%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 191 $63,615,000 $333,063 $5,459 4.62%
    Not applicable 17 $28,035,000 $1,649,118 $0 5.10%
    Not provided 31 $10,215,000 $329,516 $6,189 4.70%
    Asian 11 $4,285,000 $389,545 $8,889 4.48%
    American Indian 2 $870,000 $435,000 $9,870 4.69%
    Black 2 $390,000 $195,000 $0 6.50%
    Native Hawaiian or Islander 1 $165,000 $165,000 $3,483 6.50%

    Approval Rates

    Total approvals of all applications
    95.32%

    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 origination
    29.41%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    255 $107,575,000 $421,863

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 35 $5,785,000 $165,286 $3,915 4.95%
    40-60% 52 $19,820,000 $381,154 $4,915 4.23%
    60-80% 98 $56,180,000 $573,265 $6,870 4.75%
    80-100% 53 $23,735,000 $447,830 $6,734 4.74%
    Over 100% 1 $935,000 $935,000 $44,417 3.13%
    Under 20% 16 $1,120,000 $70,000 $1,471 4.96%

    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%