Spokane Teachers Mortgage Rates, Fees & InfoLiberty Lake, WA
Tax ID: 91-0565128
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewSpokane Teachers is a smaller mortgage company specializing in Home Purchase and Refi loans. Spokane Teachers has a high proportion of conventional loans. Their top markets by origination volume include: Spokane, Seattle, Kennewick, Sandpoint, and Moses Lake among others. We have data for 32 markets. (Some data included below & more in-depth data is available with an active subscription.)
Spokane Teachers 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. Spokane Teachers 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.
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|Simulated Rate||Simulation Date|
|Home Equity Line of Credit (HELOC)||6.27%||11/30/23|
|30 Year Conventional Purchase||6.27%||11/30/23|
|30 Year Conventional Refi||6.28%||11/30/23|
|30 Year Cash-out Refi||6.51%||11/30/23|
|30 Year FHA Purchase||6.27%||11/30/23|
|30 Year FHA Refi||6.27%||11/30/23|
|30 Year VA Purchase||6.27%||11/30/23|
|30 Year USDA Purchase||6.27%||11/30/23|
|15 Year Conventional Purchase||5.79%||11/30/23|
|15 Year Conventional Refi||6.21%||11/30/23|
|15 Year Cash-out Refi||6.21%||11/30/23|
|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.|
Spokane Teachers Mortgage Calculator
Your EstimatesEstimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Spokane Teachers. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Origination Dollar Volume (All Markets)$860,590,000
SPOKANE TEACHERS - 2022
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For 2022, less than of lenders were eligible for this award.
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Spokane Teachers's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.69%.
Relative Fees (Closing Costs)
Spokane Teachers's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,940.
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.
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|
|SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA)||2,804||$501,270,000||$178,770||$4,471||5.45%|
|Outside of Metro Areas||487||$121,405,000||$249,292||$5,758||5.51%|
|Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA)||50||$73,620,000||$1,472,400||$3,379||5.42%|
|KENNEWICK-RICHLAND, WA (FHA|USDA|VA)||208||$60,970,000||$293,125||$4,447||5.42%|
|Sandpoint, ID (FHA|USDA|VA)||144||$29,480,000||$204,722||$5,737||5.25%|
|Outside of Metro Areas||168||$26,470,000||$157,560||$5,248||5.09%|
|Moses Lake, WA (FHA|USDA|VA)||44||$8,140,000||$185,000||$4,239||5.76%|
|WENATCHEE, WA (FHA|USDA|VA)||26||$6,750,000||$259,615||$3,111||6.19%|
|Othello, WA (FHA|USDA|VA)||24||$6,680,000||$278,333||$5,252||5.77%|
|YAKIMA, WA (FHA|USDA|VA)||21||$3,185,000||$151,667||$5,678||6.26%|
|Centralia, WA (FHA|USDA|VA)||2||$3,110,000||$1,555,000||$0||5.75%|
|Pullman, WA (FHA|USDA|VA)||15||$2,365,000||$157,667||$4,548||5.21%|
|WALLA WALLA, WA (FHA|USDA|VA)||15||$2,225,000||$148,333||$10,132||5.14%|
|PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA)||13||$2,145,000||$165,000||$7,371||5.33%|
|BOISE CITY, ID (FHA|USDA|VA)||8||$2,090,000||$261,250||$6,368||4.98%|
|BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA)||9||$1,855,000||$206,111||$11,476||5.09%|
|Ellensburg, WA (FHA|USDA|VA)||7||$1,505,000||$215,000||$6,067||5.36%|
|BELLINGHAM, WA (FHA|USDA|VA)||5||$1,415,000||$283,000||$11,166||4.84%|
|OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA)||7||$1,315,000||$187,857||$5,841||6.12%|
|Port Angeles, WA (FHA|USDA|VA)||3||$1,055,000||$351,667||$6,315||6.79%|
|LEWISTON, ID-WA (FHA|USDA|VA)||9||$1,005,000||$111,667||$2,887||5.51%|
|Moscow, ID (FHA|USDA|VA)||3||$665,000||$221,667||$6,061||5.25%|
|BEND, OR (FHA|USDA|VA)||1||$475,000||$475,000||$7,910||4.38%|
|SALEM, OR (FHA|USDA|VA)||2||$450,000||$225,000||$7,452||4.87%|
|Hermiston-Pendleton, OR (FHA|USDA|VA)||4||$250,000||$62,500||$2,730||7.71%|
|MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA)||3||$205,000||$68,333||$0||6.41%|
|MEDFORD, OR (FHA|USDA|VA)||2||$160,000||$80,000||$2,853||4.68%|
|Oak Harbor, WA (FHA|USDA|VA)||1||$125,000||$125,000||$0||5.74%|
|EUGENE-SPRINGFIELD, OR (FHA|USDA|VA)||1||$75,000||$75,000||$0||3.99%|
|Jackson, WY-ID (FHA|USDA|VA)||1||$55,000||$55,000||$0||8.74%|
|Aberdeen, WA (FHA|USDA|VA)||2||$50,000||$25,000||$210||7.62%|
|Roseburg, OR (FHA|USDA|VA)||1||$25,000||$25,000||$0||6.24%|
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Spokane Teachers's most frequently originated type of loan was HELOC, with 2,685 originations. Their 2nd most popular type was Conventional, with 1,405 originations.
For 2022, Spokane Teachers's most frequently cited loan purpose was Home Improvement, with 1,605 originations. The 2nd most popular reason was Other, with 928 originations.
For 2022, Spokane Teachers's most frequently cited loan duration was 30 Year, with 3,494 originations. The 2nd most popular length was 15 Year, with 207 originations.
Origination Fees/Closing Costs
Spokane Teachers's average total fees were $5,940, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 363 originations.
During 2022, Spokane Teachers's average interest rate for loans was 5.45%, while their most frequently originated rate bucket for loans was 3-4%, with 977 originations.
2022 saw Spokane Teachers place emphasis on $100,000 or less loans with 1,954 originations, totaling $107,020,000 in origination value.
Spokane Teachers lent most frequently to those with incomes in the $100k-150k range, with 1,090 originations. The second most popular income band? $75k-100k, with 804 originations.
Applicant Debt to Income Ratio
Spokane Teachers lent most frequently to those with DTI ratios of 20-30%, with 820 originations. The next most common DTI ratio? 30-36%, with 745 originations.
Approval RatesTotal approvals of all applications
Spokane Teachers has an average approval rate.
Pick RateApprovals leading to origination
Spokane Teachers 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|