Spokane Teachers Mortgage Rates, Fees & Info

Liberty Lake, WA

LEI: 549300TUSRLWD8ETNR90

Tax ID: 91-0565128

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
  • 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

    Spokane Teachers is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Spokane Teachers 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: Spokane, Sandpoint, Kennewick, Seattle, and Portland among others. We have data for 30 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 a low 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) 6.27% 12/16/24
    30 Year Conventional Purchase 6.27% 12/16/24
    30 Year Conventional Refi 6.28% 12/16/24
    30 Year Cash-out Refi 6.51% 12/16/24
    30 Year FHA Purchase 6.27% 12/16/24
    30 Year FHA Refi 6.27% 12/16/24
    30 Year VA Purchase 6.27% 12/16/24
    30 Year USDA Purchase 6.27% 12/16/24
    15 Year Conventional Purchase 5.79% 12/16/24
    15 Year Conventional Refi 6.21% 12/16/24
    15 Year Cash-out Refi 6.21% 12/16/24
    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.

    Spokane Teachers Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Spokane Teachers. 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

    2,681

    Origination Dollar Volume (All Markets)

    $292,345,000

    Awards

    SPOKANE TEACHERS 30 Year Conventional Loans gold
    Show all (1) 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
    SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 1,998 $214,200,000 $107,207 $3,349 5.63%
    Outside of Metro Areas 368 $39,810,000 $108,179 $3,587 5.86%
    Outside of Metro Areas 101 $9,265,000 $91,733 $3,253 5.87%
    Sandpoint, ID (FHA|USDA|VA) 64 $9,030,000 $141,094 $3,983 5.76%
    KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 48 $6,960,000 $145,000 $3,536 6.33%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 30 $4,350,000 $145,000 $4,270 5.68%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 8 $1,580,000 $197,500 $6,061 5.54%
    Moses Lake, WA (FHA|USDA|VA) 8 $1,050,000 $131,250 $2,775 5.85%
    WENATCHEE, WA (FHA|USDA|VA) 10 $750,000 $75,000 $3,067 6.24%
    WALLA WALLA, WA (FHA|USDA|VA) 7 $705,000 $100,714 $3,897 6.44%
    Pullman, WA (FHA|USDA|VA) 9 $685,000 $76,111 $2,966 5.18%
    OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 2 $590,000 $295,000 $5,935 4.38%
    EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 2 $370,000 $185,000 $5,916 5.12%
    YAKIMA, WA (FHA|USDA|VA) 1 $355,000 $355,000 $6,247 4.88%
    GRANTS PASS, OR (FHA|USDA|VA) 1 $305,000 $305,000 $5,651 4.63%
    Hermiston-Pendleton, OR (FHA|USDA|VA) 1 $245,000 $245,000 $3,061 4.50%
    Port Angeles, WA (FHA|USDA|VA) 2 $220,000 $110,000 $4,002 4.43%
    Oak Harbor, WA (FHA|USDA|VA) 2 $210,000 $105,000 $0 5.99%
    Ellensburg, WA (FHA|USDA|VA) 2 $190,000 $95,000 $2,262 4.92%
    LEWISTON, ID-WA (FHA|USDA|VA) 2 $180,000 $90,000 $1,806 5.12%
    BOISE CITY, ID (FHA|USDA|VA) 2 $180,000 $90,000 $3,886 4.50%
    BELLINGHAM, WA (FHA|USDA|VA) 1 $175,000 $175,000 $0 5.49%
    Moscow, ID (FHA|USDA|VA) 2 $170,000 $85,000 $2,650 5.81%
    Shelton, WA (FHA|USDA|VA) 1 $155,000 $155,000 $3,896 4.38%
    Othello, WA (FHA|USDA|VA) 2 $150,000 $75,000 $3,313 6.87%
    BEND, OR (FHA|USDA|VA) 1 $135,000 $135,000 $3,644 3.88%
    SALEM, OR (FHA|USDA|VA) 2 $110,000 $55,000 $1,081 6.12%
    BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 2 $100,000 $50,000 $0 7.12%
    IDAHO FALLS, ID (FHA|USDA|VA) 1 $85,000 $85,000 $0 4.75%
    TWIN FALLS, ID (FHA|USDA|VA) 1 $35,000 $35,000 $0 8.99%
    Spokane Teachers's top markets include Spokane, Sandpoint, Kennewick, Seattle, and Portland among others.

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

    Yakima Federal Savings and Loan Association
    Similarity Rank: 96
    Potlatch No. 1 Financial Credit Union
    Similarity Rank: 126
    SPOKANE FIREFIGHTERS CREDIT UNION
    Similarity Rank: 275
    Sno Falls Credit Union
    Similarity Rank: 309
    Idaho Independent Bank
    Similarity Rank: 448
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 614
    HAPO COMMUNITY CREDIT UNION
    Similarity Rank: 620
    IDAHO CENTRAL
    Similarity Rank: 992
    SALAL
    Similarity Rank: 1515
    NorthWest Plus Credit Union
    Similarity Rank: 1736

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 1,460 $89,480,000 $61,288 n/a 6.09%
    Conventional 1,218 $202,320,000 $166,108 $3,414 5.21%
    VA 2 $500,000 $250,000 $8,882 4.31%
    FHA 1 $45,000 $45,000 $0 4.99%

    For 2018, Spokane Teachers's most frequently originated type of loan was HELOC, with 1,460 originations. Their 2nd most popular type was Conventional, with 1,218 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 800 $43,390,000 $54,238 $1,111 6.21%
    Home Purchase 569 $122,385,000 $215,088 $4,360 4.77%
    Cash Out Refi 569 $69,475,000 $122,100 $3,552 5.33%
    Other 545 $31,755,000 $58,266 $570 6.53%
    Refi 198 $25,340,000 $127,980 $3,426 4.96%

    For 2018, Spokane Teachers's most frequently cited loan purpose was Home Improvement, with 800 originations. The 2nd most popular reason was Home Purchase, with 569 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,161 $225,465,000 $104,334 $4,317 5.65%
    15 Year 202 $24,950,000 $123,515 $3,114 4.91%
    20 Year 135 $14,655,000 $108,556 $2,324 6.72%
    10 Year 130 $23,040,000 $177,231 $533 6.22%
    5 Year 37 $1,465,000 $39,595 $623 6.35%
    Other 15 $2,625,000 $175,000 $371 6.18%
    3 Year 1 $145,000 $145,000 $0 4.83%

    For 2018, Spokane Teachers's most frequently cited loan duration was 30 Year, with 2,161 originations. The 2nd most popular length was 15 Year, with 202 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 338 $43,420,000 $128,462
    $2k-3k 259 $48,865,000 $188,668
    $3k-4k 121 $30,595,000 $252,851
    $<1k 85 $11,955,000 $140,647
    $4k-5k 46 $14,840,000 $322,609
    $5k+ 37 $14,095,000 $380,946

    Spokane Teachers's average total fees were $4,317, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 338 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 966 $83,330,000 $86,263
    4-5% 812 $149,800,000 $184,483
    6-7% 436 $21,770,000 $49,931
    Over 8% 163 $6,935,000 $42,546
    3-4% 152 $22,940,000 $150,921
    7-8% 152 $7,570,000 $49,803

    During 2018, Spokane Teachers's average interest rate for loans was 5.65%, while their most frequently originated rate bucket for loans was 5-6%, with 966 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,637 $78,995,000 $48,256 $1,284 6.23%
    $100k-200k 659 $93,375,000 $141,692 $3,626 4.92%
    $200k-400k 337 $88,275,000 $261,944 $5,149 4.72%
    $400k-600k 37 $16,985,000 $459,054 $8,054 4.77%
    $600k-1MM 6 $4,530,000 $755,000 $15,180 4.69%
    $1MM+ 5 $10,185,000 $2,037,000 $0 4.96%

    2018 saw Spokane Teachers place emphasis on $100,000 or less loans with 1,637 originations, totaling $78,995,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 703 $63,525,000 $90,363 $3,097 5.70%
    $100k-150k 594 $64,780,000 $109,057 $3,781 5.82%
    $75k-100k 529 $52,545,000 $99,329 $3,721 5.80%
    $50k or less 401 $36,535,000 $91,110 $3,022 5.38%
    $150k-250k 332 $41,130,000 $123,886 $3,950 5.76%
    $250k+ 69 $11,335,000 $164,275 $4,963 5.52%

    Spokane Teachers lent most frequently to those with incomes in the $50k-75k range, with 703 originations. The second most popular income band? $100k-150k, with 594 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 688 $70,290,000 $102,166 $3,647 5.53%
    30-36% 530 $53,870,000 $101,642 $3,400 5.81%
    <20% 303 $32,145,000 $106,089 $3,290 5.20%
    42% 113 $11,995,000 $106,150 $3,472 5.80%
    38% 110 $10,330,000 $93,909 $3,442 5.92%
    41% 109 $9,605,000 $88,119 $2,889 6.04%
    40% 106 $10,840,000 $102,264 $3,590 5.79%
    37% 98 $10,180,000 $103,878 $3,692 5.82%
    39% 97 $11,295,000 $116,443 $3,480 5.81%
    36% 84 $8,380,000 $99,762 $3,277 5.98%
    44% 73 $9,635,000 $131,986 $3,897 5.58%
    43% 65 $6,705,000 $103,154 $3,256 5.88%
    50-60% 57 $5,035,000 $88,333 $2,469 6.20%
    45% 55 $5,935,000 $107,909 $4,059 5.64%
    46% 42 $4,980,000 $118,571 $3,341 5.96%
    47% 39 $3,665,000 $93,974 $3,028 5.94%
    49% 35 $3,845,000 $109,857 $3,065 5.83%
    48% 31 $3,395,000 $109,516 $2,869 6.08%
    >60% 15 $1,125,000 $75,000 $643 6.23%

    Spokane Teachers lent most frequently to those with DTI ratios of 20-30%, with 688 originations. The next most common DTI ratio? 30-36%, with 530 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,283 $231,725,000 $101,500 $3,345 5.71%
    Not provided 281 $33,905,000 $120,658 $3,994 5.48%
    Not applicable 31 $18,735,000 $604,355 $0 4.97%
    American Indian 29 $2,235,000 $77,069 $2,206 6.35%
    Black 20 $2,180,000 $109,000 $4,169 5.79%
    Asian 15 $1,675,000 $111,667 $4,343 5.35%
    Native Hawaiian or Islander 6 $520,000 $86,667 $3,002 6.72%
    Filipino 5 $445,000 $89,000 $0 5.79%
    Chinese 3 $235,000 $78,333 $0 5.74%
    Japanese 2 $170,000 $85,000 $0 5.62%
    Guamanian 1 $165,000 $165,000 $0 5.74%
    Native Hawaiian 1 $105,000 $105,000 $0 5.24%
    Other Pacific Islander 1 $75,000 $75,000 $0 5.24%
    Korean 1 $65,000 $65,000 $0 6.49%
    Other Asian 1 $55,000 $55,000 $0 10.24%
    Vietnamese 1 $55,000 $55,000 $0 5.49%

    Approval Rates

    Total approvals of all applications
    85.24%

    Spokane Teachers has an average approval rate.

    Pick Rate

    Approvals leading to origination
    58.30%

    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
    0.0 1 $45,000 $45,000
    NA 2,680 $292,300,000 $109,067

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 22 $17,330,000 $787,727
    Single Family (1-4 Units):Manufactured 73 $7,185,000 $98,425
    Single Family (1-4 Units):Site-Built 2,586 $267,830,000 $103,569

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 650 $52,220,000 $80,338 $1,779 5.98%
    40-60% 245 $35,825,000 $146,224 $3,691 4.84%
    60-80% 428 $88,360,000 $206,449 $4,469 4.75%
    80-100% 317 $69,205,000 $218,312 $4,359 4.67%
    Over 100% 1 $2,885,000 $2,885,000 $0 5.34%
    Under 20% 1,039 $43,805,000 $42,161 $631 6.40%