Spokane Teachers Mortgage Rates, Fees & Info

Liberty Lake, WA

LEI: 549300TUSRLWD8ETNR90

Tax ID: 91-0565128

3.2 stars - out of 5 stars, based on 75 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Review & Overview

    Spokane Teachers is a small mortgage company specializing in Cash Out Refi and Home Purchase loans. Spokane Teachers has a high proportion of conventional loans. Their top markets by origination volume include: Spokane, Kennewick, Sandpoint, Seattle, and Yakima among others. We have data for 42 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Spokane Teachers 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. 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type
    Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 7.31% 3/19/23
    30 Year Conventional Purchase 6.48% 3/19/23
    30 Year Conventional Refi 6.43% 3/19/23
    30 Year Cash-out Refi 6.54% 3/19/23
    30 Year FHA Purchase 6.27% 3/19/23
    30 Year FHA Refi 6.27% 3/19/23
    30 Year VA Purchase 6.27% 3/19/23
    30 Year VA Refi 6.27% 3/19/23
    30 Year USDA Purchase 6.27% 3/19/23
    15 Year Conventional Purchase 5.93% 3/19/23
    15 Year Conventional Refi 5.91% 3/19/23
    15 Year Cash-out Refi 5.91% 3/19/23
    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.


    Originations

    5,673

    Origination Dollar Volume (All Markets)

    $1,135,635,000

    Awards

    SPOKANE TEACHERS 30 Year Conventional Loans bronze SPOKANE TEACHERS 30 Year Conventional Loans bronze
    Show all (2) awards

    Relative Rate

    Spokane Teachers's average 30 year fixed mortgage rate was 3.65%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of 0.5%.

    Relative Fees (Closing Costs)

    Spokane Teachers's average total fees/closing costs for a 30 year fixed rate mortgage were $5,008.

    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
    SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 3,995 $721,905,000 $180,702 $4,407 3.43%
    Outside of Metro Areas 769 $202,565,000 $263,414 $5,594 3.52%
    KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 250 $64,220,000 $256,880 $4,844 3.44%
    Sandpoint, ID (FHA|USDA|VA) 184 $35,050,000 $190,489 $6,179 3.48%
    Outside of Metro Areas 192 $32,280,000 $168,125 $4,678 3.36%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 65 $28,335,000 $435,923 $6,366 3.49%
    YAKIMA, WA (FHA|USDA|VA) 15 $8,805,000 $587,000 $4,121 3.51%
    Moses Lake, WA (FHA|USDA|VA) 39 $7,385,000 $189,359 $4,940 3.37%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 13 $3,545,000 $272,692 $5,936 3.04%
    Othello, WA (FHA|USDA|VA) 23 $3,445,000 $149,783 $3,822 3.74%
    Pullman, WA (FHA|USDA|VA) 17 $3,285,000 $193,235 $4,220 2.95%
    BOISE CITY, ID (FHA|USDA|VA) 12 $2,410,000 $200,833 $4,172 3.01%
    WENATCHEE, WA (FHA|USDA|VA) 8 $2,150,000 $268,750 $6,246 3.45%
    Aberdeen, WA (FHA|USDA|VA) 3 $2,075,000 $691,667 $4,321 3.12%
    Ellensburg, WA (FHA|USDA|VA) 10 $2,030,000 $203,000 $6,539 4.01%
    BELLINGHAM, WA (FHA|USDA|VA) 7 $1,715,000 $245,000 $5,507 3.30%
    MISSOULA, MT (FHA|USDA|VA) 4 $1,590,000 $397,500 $11,593 3.44%
    WALLA WALLA, WA (FHA|USDA|VA) 8 $1,340,000 $167,500 $6,384 3.65%
    Moscow, ID (FHA|USDA|VA) 7 $1,225,000 $175,000 $4,336 3.80%
    BEND, OR (FHA|USDA|VA) 3 $1,065,000 $355,000 $6,180 2.71%
    OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 5 $1,055,000 $211,000 $4,766 3.37%
    LEWISTON, ID-WA (FHA|USDA|VA) 6 $950,000 $158,333 $4,363 3.17%
    MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 3 $905,000 $301,667 $4,917 2.88%
    BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 8 $890,000 $111,250 $2,065 3.48%
    Hermiston-Pendleton, OR (FHA|USDA|VA) 6 $870,000 $145,000 $4,320 3.45%
    Hood River, OR (FHA|USDA|VA) 1 $545,000 $545,000 $16,871 2.75%
    Centralia, WA (FHA|USDA|VA) 1 $545,000 $545,000 $9,314 3.00%
    Port Angeles, WA (FHA|USDA|VA) 3 $475,000 $158,333 $4,086 2.63%
    BILLINGS, MT (FHA|USDA|VA) 1 $385,000 $385,000 $6,830 3.00%
    EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 1 $345,000 $345,000 $6,544 3.50%
    Newport, OR (FHA|USDA|VA) 1 $335,000 $335,000 $7,570 3.00%
    Kalispell, MT (FHA|USDA|VA) 1 $325,000 $325,000 $2,340 2.88%
    La Grande, OR (FHA|USDA|VA) 2 $290,000 $145,000 $4,798 3.06%
    Helena, MT (FHA|USDA|VA) 1 $245,000 $245,000 $6,361 2.75%
    ALBANY-LEBANON, OR (FHA|USDA|VA) 1 $235,000 $235,000 $6,957 2.88%
    Bozeman, MT (FHA|USDA|VA) 1 $165,000 $165,000 $3,691 2.88%
    Oak Harbor, WA (FHA|USDA|VA) 2 $160,000 $80,000 $0 4.49%
    LONGVIEW, WA (FHA|USDA|VA) 1 $145,000 $145,000 $3,134 2.38%
    GRANTS PASS, OR (FHA|USDA|VA) 1 $105,000 $105,000 $3,122 3.13%
    Rexburg, ID (FHA|USDA|VA) 1 $105,000 $105,000 $0 4.74%
    Klamath Falls, OR (FHA|USDA|VA) 1 $75,000 $75,000 $0 4.74%
    The Dalles, OR (FHA|USDA|VA) 1 $65,000 $65,000 $0 3.74%
    Spokane Teachers's top markets include Spokane, Kennewick, Sandpoint, Seattle, and Yakima among others.

    Their top states include:
  • Washington (FHA|USDA|VA)
  • Idaho (FHA|USDA|VA)
  • Oregon (FHA|USDA|VA)
  • Montana (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against SPOKANE TEACHERS based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    SPOKANE FIREFIGHTERS CREDIT UNION
    Similarity Rank: 360
    Bank of the Pacific
    Similarity Rank: 1682
    HAPO COMMUNITY CREDIT UNION
    Similarity Rank: 1692
    SOUND
    Similarity Rank: 2037
    America's Credit Union
    Similarity Rank: 2352
    VERITY
    Similarity Rank: 2550
    LO, INC.
    Similarity Rank: 2560
    CU HOME MORTGAGE SOLUTIONS, LLC
    Similarity Rank: 2590
    Solarity Credit Union
    Similarity Rank: 2744

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 3,262 $909,010,000 $278,666 $4,702 2.92%
    HELOC 2,411 $226,625,000 $93,996 n/a 4.14%

    For 2021, Spokane Teachers's most frequently originated type of loan was Conventional, with 3,262 originations. Their 2nd most popular type was HELOC, with 2,411 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 1,897 $496,585,000 $261,774 $4,628 3.09%
    Home Improvement 1,271 $95,415,000 $75,071 $1,947 4.17%
    Refi 980 $201,150,000 $205,255 $4,086 2.70%
    Other 837 $80,455,000 $96,123 $998 4.25%
    Home Purchase 688 $262,030,000 $380,858 $6,314 3.11%

    For 2021, Spokane Teachers's most frequently cited loan purpose was Cash Out Refi, with 1,897 originations. The 2nd most popular reason was Home Improvement, with 1,271 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 4,386 $751,730,000 $171,393 $5,008 3.65%
    15 Year 795 $149,825,000 $188,459 $3,923 2.40%
    20 Year 293 $59,315,000 $202,440 $4,096 3.02%
    10 Year 127 $140,985,000 $1,110,118 $1,548 3.56%
    30+ year 48 $23,840,000 $496,667 $14,495 2.96%
    5 Year 15 $535,000 $35,667 $610 6.14%
    Other 9 $9,405,000 $1,045,000 $8,645 3.34%

    For 2021, Spokane Teachers's most frequently cited loan duration was 30 Year, with 4,386 originations. The 2nd most popular length was 15 Year, with 795 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 1,005 $197,465,000 $196,483
    $3k-4k 663 $180,255,000 $271,878
    $1k-2k 557 $66,565,000 $119,506
    $4k-5k 304 $107,390,000 $353,257
    $5k+ 304 $146,960,000 $483,421
    $<1k 224 $43,000,000 $191,964

    Spokane Teachers's average total fees were $5,008, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 1,005 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 2,530 $519,330,000 $205,269
    2.5-3% 1,589 $411,425,000 $258,921
    <2.5% 745 $136,145,000 $182,745
    4-5% 595 $56,585,000 $95,101
    5-6% 84 $4,860,000 $57,857
    6-7% 65 $3,635,000 $55,923
    Over 8% 42 $2,360,000 $56,190
    7-8% 23 $1,295,000 $56,304

    During 2021, Spokane Teachers's average interest rate for loans was 3.65%, while their most frequently originated rate bucket for loans was 3-4%, with 2,530 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,791 $102,035,000 $56,971 $2,199 4.11%
    $100k-200k 1,780 $247,880,000 $139,258 $3,543 3.22%
    $200k-400k 1,691 $463,785,000 $274,267 $5,022 3.05%
    $400k-600k 335 $157,325,000 $469,627 $7,984 3.05%
    $600k-1MM 51 $38,165,000 $748,333 $13,861 3.06%
    $1MM+ 25 $126,445,000 $5,057,800 $16,580 3.71%

    2021 saw Spokane Teachers place emphasis on $100,000 or less loans with 1,791 originations, totaling $102,035,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,424 $272,410,000 $191,299 $5,307 3.51%
    $50k-75k 1,234 $186,340,000 $151,005 $4,183 3.36%
    $75k-100k 1,072 $184,610,000 $172,211 $4,672 3.47%
    $150k-250k 858 $184,800,000 $215,385 $6,488 3.53%
    $50k or less 678 $83,620,000 $123,333 $3,609 3.30%
    $250k+ 187 $49,845,000 $266,551 $8,299 3.48%

    Spokane Teachers lent most frequently to those with incomes in the $100k-150k range, with 1,424 originations. The second most popular income band? $50k-75k, with 1,234 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,585 $274,305,000 $173,063 $4,419 3.31%
    30-36% 1,086 $196,460,000 $180,902 $4,824 3.48%
    <20% 664 $105,380,000 $158,705 $4,069 3.15%
    40% 219 $39,715,000 $181,347 $4,777 3.62%
    39% 197 $36,555,000 $185,558 $5,051 3.61%
    38% 196 $35,740,000 $182,347 $4,849 3.56%
    42% 192 $37,400,000 $194,792 $5,247 3.61%
    41% 185 $35,125,000 $189,865 $5,277 3.65%
    37% 180 $34,750,000 $193,056 $5,227 3.64%
    36% 165 $32,725,000 $198,333 $4,909 3.45%
    44% 164 $33,450,000 $203,963 $5,100 3.37%
    50-60% 150 $19,190,000 $127,933 $4,568 3.98%
    45% 139 $29,045,000 $208,957 $5,402 3.40%
    43% 113 $23,825,000 $210,841 $5,600 3.38%
    46% 107 $19,445,000 $181,729 $5,130 3.63%
    49% 88 $16,400,000 $186,364 $5,052 3.46%
    47% 74 $11,720,000 $158,378 $4,257 3.60%
    48% 70 $9,930,000 $141,857 $4,300 3.73%
    >60% 49 $7,595,000 $155,000 $3,739 3.96%

    Spokane Teachers lent most frequently to those with DTI ratios of 20-30%, with 1,585 originations. The next most common DTI ratio? 30-36%, with 1,086 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 4,752 $839,820,000 $176,730 $4,678 3.44%
    Not applicable 44 $133,710,000 $3,038,864 $0 3.74%
    Not provided 668 $125,470,000 $187,829 $4,899 3.37%
    Asian 82 $16,270,000 $198,415 $4,940 3.54%
    American Indian 63 $9,555,000 $151,667 $4,007 3.59%
    Black 39 $6,015,000 $154,231 $4,643 4.09%
    Native Hawaiian or Islander 9 $1,315,000 $146,111 $3,484 4.10%
    Filipino 8 $1,220,000 $152,500 $3,999 3.58%
    Other Asian 3 $1,015,000 $338,333 $5,897 2.88%
    Vietnamese 2 $440,000 $220,000 $9,198 3.93%
    Chinese 1 $365,000 $365,000 $6,711 3.13%
    1 $305,000 $305,000 $4,793 2.88%
    Japanese 1 $135,000 $135,000 $0 3.74%

    Approval Rates

    Total approvals of all applications
    91.86%

    Spokane Teachers has an average approval rate.

    Pick Rate

    Approvals leading to origination
    72.41%

    Spokane Teachers has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 5,673 $1,135,635,000 $200,182

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    5,673 $1,135,635,000 $200,182

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1,210 $156,420,000 $129,273 $3,470 3.49%
    40-60% 1,155 $257,575,000 $223,009 $4,288 2.86%
    60-80% 1,257 $486,205,000 $386,798 $5,532 3.10%
    80-100% 407 $134,045,000 $329,349 $5,896 3.06%
    Under 20% 1,644 $101,390,000 $61,673 $1,870 4.16%