Bank Of Whittier Mortgage Rates, Fees & Info

Whittier, CA

LEI: 549300Q4JBLTKDC7J303

Tax ID: 95-3741119

5 stars - Updated: 3/29/24 - out of 5 stars, based on 9 reviews

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

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Mortgage Data

Review & Overview

Bank Of Whittier is a smaller bank specializing in Home Purchase loans. Bank Of Whittier has a high proportion of conventional loans. Their top markets by origination volume include: Dallas, New York, Austin, Detroit, and Albuquerque among others. We have data for 34 markets. (Some data included below & more in-depth data is available with an active subscription.)

Bank Of Whittier has an 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 Whittier 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 relatively high 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 6.87% 3/29/24
30 Year Conventional Refi 6.24% 3/29/24
30 Year Cash-out Refi 6.71% 3/29/24
15 Year Conventional Purchase 6.21% 3/29/24
15 Year Conventional Refi 5.81% 3/29/24
15 Year Cash-out Refi 5.81% 3/29/24
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 Whittier Mortgage Calculator






Your Estimates

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

This is not an official calculator from Bank Of Whittier. 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

85

Origination Dollar Volume (All Markets)

$35,955,000

Relative Rate

Bank Of Whittier's average 30 year fixed mortgage rate was 6.98%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.5%.

Relative Fees (Closing Costs)

Bank Of Whittier's average total fees/closing costs for a 30 year fixed rate mortgage were $7,282.

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 $9,089.

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
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 29 $11,855,000 $408,793 $7,125 6.91%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 6 $4,340,000 $723,333 $11,861 6.83%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 3 $2,615,000 $871,667 $11,897 6.73%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 3 $2,345,000 $781,667 $10,298 6.90%
ALBUQUERQUE, NM (FHA|USDA|VA) 6 $1,540,000 $256,667 $3,459 6.88%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $1,365,000 $1,365,000 $31,145 7.25%
BATON ROUGE, LA (FHA|USDA|VA) 2 $1,060,000 $530,000 $10,996 6.69%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 1 $965,000 $965,000 $4,877 6.75%
RICHMOND, VA (FHA|USDA|VA) 2 $920,000 $460,000 $4,369 6.63%
HUNTSVILLE, AL (FHA|USDA|VA) 1 $725,000 $725,000 $10,364 6.88%
TOLEDO, OH (FHA|USDA|VA) 2 $710,000 $355,000 $2,950 6.85%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 2 $670,000 $335,000 $8,072 6.75%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 2 $640,000 $320,000 $4,350 6.40%
SHERMAN-DENISON, TX (FHA|USDA|VA) 2 $610,000 $305,000 $10,017 7.01%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 3 $555,000 $185,000 $5,526 6.79%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $415,000 $415,000 $14,419 6.88%
BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 1 $405,000 $405,000 $8,884 8.50%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1 $385,000 $385,000 $3,428 6.63%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $355,000 $355,000 $6,556 7.45%
READING, PA (FHA|USDA|VA) 1 $325,000 $325,000 $4,591 7.25%
BANGOR, ME (FHA|USDA|VA) 1 $325,000 $325,000 $3,278 7.35%
SALT LAKE CITY, UT (FHA|USDA|VA) 1 $305,000 $305,000 $2,800 6.63%
KANSAS CITY, MO-KS (FHA|USDA|VA) 2 $280,000 $140,000 $3,148 7.06%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $265,000 $265,000 $6,619 6.88%
COLUMBUS, OH (FHA|USDA|VA) 1 $265,000 $265,000 $4,237 7.13%
PITTSBURGH, PA (FHA|USDA|VA) 1 $265,000 $265,000 $7,147 6.88%
TUCSON, AZ (FHA|USDA|VA) 1 $245,000 $245,000 $4,638 7.75%
DOVER, DE (FHA|USDA|VA) 1 $225,000 $225,000 $8,593 6.63%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 1 $205,000 $205,000 $4,417 6.50%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $205,000 $205,000 $3,623 7.25%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $195,000 $195,000 $4,240 6.13%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 1 $165,000 $165,000 $6,379 6.88%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $125,000 $125,000 $3,191 7.95%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $85,000 $85,000 $2,839 7.00%
Bank Of Whittier's top markets include Dallas, New York, Austin, Detroit, and Albuquerque among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • New Mexico (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 85 $35,955,000 $423,000 $7,244 6.91%

    For 2023, Bank Of Whittier's most frequently originated type of loan was Conventional, with 85 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 67 $30,675,000 $457,836 $7,467 6.88%
    Cash Out Refi 17 $4,995,000 $293,824 $6,570 7.03%
    Refi 1 $285,000 $285,000 $3,792 6.63%

    For 2023, Bank Of Whittier's most frequently cited loan purpose was Home Purchase, with 67 originations. The 2nd most popular reason was Cash Out Refi, with 17 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 56 $22,660,000 $404,643 $7,282 6.98%
    15 Year 21 $11,175,000 $532,143 $8,176 6.78%
    10 Year 5 $1,555,000 $311,000 $4,303 6.80%
    Other 2 $310,000 $155,000 $5,445 7.00%
    20 Year 1 $255,000 $255,000 $3,888 5.98%

    For 2023, Bank Of Whittier's most frequently cited loan duration was 30 Year, with 56 originations. The 2nd most popular length was 15 Year, with 21 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 23 $14,675,000 $638,043
    $1k-2k 20 $5,710,000 $285,500
    $<1k 18 $7,110,000 $395,000
    $2k-3k 12 $3,380,000 $281,667
    $4k-5k 8 $3,700,000 $462,500
    $3k-4k 4 $1,380,000 $345,000

    Bank Of Whittier's average total fees were $7,282, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 23 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 51 $22,145,000 $434,216
    7-8% 30 $12,270,000 $409,000
    5-6% 3 $1,135,000 $378,333
    Over 8% 1 $405,000 $405,000

    During 2023, Bank Of Whittier's average interest rate for loans was 6.98%, while their most frequently originated rate bucket for loans was 6-7%, with 51 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 42 $12,140,000 $289,048 $5,816 6.94%
    $600k-1MM 14 $10,080,000 $720,000 $8,475 6.75%
    $400k-600k 11 $5,435,000 $494,091 $9,161 7.16%
    $100k-200k 10 $1,590,000 $159,000 $3,803 6.83%
    $1MM+ 5 $6,515,000 $1,303,000 $20,409 6.89%
    $100,000 or less 3 $195,000 $65,000 $4,007 6.58%

    2023 saw Bank Of Whittier place emphasis on $200k-400k loans with 42 originations, totaling $12,140,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 34 $21,230,000 $624,412 $9,066 6.90%
    $150k-250k 22 $6,720,000 $305,455 $6,850 7.01%
    $100k-150k 21 $6,345,000 $302,143 $6,082 7.01%
    $75k-100k 7 $1,475,000 $210,714 $3,662 6.43%
    $50k-75k 1 $185,000 $185,000 $3,469 6.25%

    Bank Of Whittier lent most frequently to those with incomes in the $250k+ range, with 34 originations. The second most popular income band? $150k-250k, with 22 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 27 $13,275,000 $491,667 $7,907 6.73%
    20-30% 20 $6,780,000 $339,000 $5,601 6.88%
    <20% 12 $3,280,000 $273,333 $6,249 6.99%
    42% 9 $4,965,000 $551,667 $10,772 6.97%
    38% 4 $1,200,000 $300,000 $4,622 7.25%
    43% 3 $2,145,000 $715,000 $9,320 6.71%
    39% 2 $850,000 $425,000 $5,254 7.56%
    36% 2 $830,000 $415,000 $9,475 7.88%
    37% 2 $880,000 $440,000 $4,865 6.61%
    40% 2 $1,180,000 $590,000 $8,941 6.88%
    41% 1 $265,000 $265,000 $7,147 6.88%
    48% 1 $305,000 $305,000 $7,657 7.75%

    Bank Of Whittier lent most frequently to those with DTI ratios of 30-36%, with 27 originations. The next most common DTI ratio? 20-30%, with 20 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Asian 49 $21,335,000 $435,408 $7,749 6.90%
    Not provided 12 $6,070,000 $505,833 $8,220 6.88%
    White 15 $5,705,000 $380,333 $5,244 6.84%
    Black 8 $2,450,000 $306,250 $5,442 7.11%
    Other Asian 1 $395,000 $395,000 $15,255 6.88%

    Approval Rates

    Total approvals of all applications
    87.43%

    Bank Of Whittier has an average approval rate.

    Pick Rate

    Approvals leading to origination
    34.12%

    Bank Of Whittier 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 85 $35,955,000 $423,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    85 $35,955,000 $423,000

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 9 $3,155,000 $350,556 $5,865 7.01%
    40-60% 15 $6,545,000 $436,333 $6,716 6.87%
    60-80% 32 $11,590,000 $362,188 $7,362 6.91%
    80-100% 25 $14,085,000 $563,400 $8,501 6.90%
    Under 20% 4 $580,000 $145,000 $3,538 6.89%