Spokane Teachers Mortgage Rates, Fees & Info
Liberty Lake, WALEI: 549300TUSRLWD8ETNR90
Tax ID: 91-0565128
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Mortgage Data
Review & Overview
Spokane Teachers is a smaller mortgage company specializing in Cash Out Refi, 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 Bellingham among others. We have data for 33 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 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 4/21/24 |
| 30 Year Conventional Purchase | 6.27% | 4/21/24 |
| 30 Year Conventional Refi | 6.28% | 4/21/24 |
| 30 Year Cash-out Refi | 6.51% | 4/21/24 |
| 30 Year FHA Purchase | 6.27% | 4/21/24 |
| 30 Year FHA Refi | 6.27% | 4/21/24 |
| 30 Year VA Purchase | 6.27% | 4/21/24 |
| 30 Year USDA Purchase | 6.27% | 4/21/24 |
| 15 Year Conventional Purchase | 5.79% | 4/21/24 |
| 15 Year Conventional Refi | 6.21% | 4/21/24 |
| 15 Year Cash-out Refi | 6.21% | 4/21/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
5,091Origination Dollar Volume (All Markets)
$965,315,000Top 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) | 3,670 | $646,180,000 | $176,071 | $4,086 | 3.65% |
| Outside of Metro Areas | 634 | $128,950,000 | $203,391 | $5,184 | 3.81% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 251 | $55,885,000 | $222,649 | $4,825 | 3.67% |
| Sandpoint, ID (FHA|USDA|VA) | 150 | $27,760,000 | $185,067 | $5,707 | 3.59% |
| Outside of Metro Areas | 145 | $25,925,000 | $178,793 | $4,692 | 3.53% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 52 | $18,740,000 | $360,385 | $5,810 | 3.58% |
| BELLINGHAM, WA (FHA|USDA|VA) | 5 | $11,565,000 | $2,313,000 | $5,421 | 3.79% |
| Othello, WA (FHA|USDA|VA) | 9 | $10,145,000 | $1,127,222 | $3,261 | 3.48% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 9 | $6,035,000 | $670,556 | $4,754 | 3.97% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 9 | $5,275,000 | $586,111 | $4,977 | 3.58% |
| Moses Lake, WA (FHA|USDA|VA) | 23 | $3,835,000 | $166,739 | $5,743 | 3.95% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 13 | $3,285,000 | $252,692 | $5,433 | 3.25% |
| Moscow, ID (FHA|USDA|VA) | 14 | $3,010,000 | $215,000 | $6,405 | 3.52% |
| YAKIMA, WA (FHA|USDA|VA) | 15 | $2,795,000 | $186,333 | $4,612 | 4.02% |
| Pullman, WA (FHA|USDA|VA) | 14 | $2,480,000 | $177,143 | $4,239 | 3.38% |
| WENATCHEE, WA (FHA|USDA|VA) | 12 | $2,360,000 | $196,667 | $5,343 | 3.64% |
| WALLA WALLA, WA (FHA|USDA|VA) | 14 | $2,200,000 | $157,143 | $4,499 | 3.94% |
| BEND, OR (FHA|USDA|VA) | 6 | $1,580,000 | $263,333 | $4,782 | 3.77% |
| Oak Harbor, WA (FHA|USDA|VA) | 5 | $1,085,000 | $217,000 | $4,325 | 3.45% |
| EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) | 4 | $970,000 | $242,500 | $4,126 | 4.31% |
| LEWISTON, ID-WA (FHA|USDA|VA) | 7 | $755,000 | $107,857 | $3,879 | 4.07% |
| BOISE CITY, ID (FHA|USDA|VA) | 5 | $615,000 | $123,000 | $4,632 | 3.94% |
| Hermiston-Pendleton, OR (FHA|USDA|VA) | 4 | $610,000 | $152,500 | $4,539 | 3.06% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 4 | $580,000 | $145,000 | $4,664 | 3.81% |
| Ellensburg, WA (FHA|USDA|VA) | 6 | $500,000 | $83,333 | $0 | 4.28% |
| Aberdeen, WA (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $5,715 | 3.44% |
| POCATELLO, ID (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $7,135 | 3.19% |
| GRANTS PASS, OR (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $5,493 | 3.00% |
| MEDFORD, OR (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $7,149 | 2.88% |
| Port Angeles, WA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $4,207 | 3.13% |
| SALEM, OR (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $5,332 | 2.88% |
| Roseburg, OR (FHA|USDA|VA) | 2 | $80,000 | $40,000 | $0 | 4.49% |
| TWIN FALLS, ID (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 6.24% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 3,271 | $824,725,000 | $252,132 | $4,386 | 3.23% |
| HELOC | 1,820 | $140,590,000 | $77,247 | n/a | 4.45% |
For 2020, Spokane Teachers's most frequently originated type of loan was Conventional, with 3,271 originations. Their 2nd most popular type was HELOC, with 1,820 originations.
Loan Reason
For 2020, Spokane Teachers's most frequently cited loan purpose was Cash Out Refi, with 1,616 originations. The 2nd most popular reason was Refi, with 1,268 originations.
Loan Duration/Length
For 2020, Spokane Teachers's most frequently cited loan duration was 30 Year, with 3,879 originations. The 2nd most popular length was 15 Year, with 739 originations.
Origination Fees/Closing Costs
Spokane Teachers's average total fees were $4,602, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 1,081 originations.
Interest Rates
During 2020, Spokane Teachers's average interest rate for loans was 3.82%, while their most frequently originated rate bucket for loans was 3-4%, with 2,518 originations.
Loan Sizing
2020 saw Spokane Teachers place emphasis on $100,000 or less loans with 1,635 originations, totaling $87,555,000 in origination value.
Applicant Income
Spokane Teachers lent most frequently to those with incomes in the $100k-150k range, with 1,319 originations. The second most popular income band? $50k-75k, with 1,134 originations.
Applicant Debt to Income Ratio
Spokane Teachers lent most frequently to those with DTI ratios of 20-30%, with 1,573 originations. The next most common DTI ratio? 30-36%, with 1,014 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.31%
Spokane Teachers has an average approval rate.
Pick Rate
Approvals leading to origination55.51%
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 |
|---|---|---|---|
| NA | 5,091 | $965,315,000 | $189,612 |