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

Jump to:

  • 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 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.

    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
    Home Equity Line of Credit (HELOC) 6.27% 4/28/24
    30 Year Conventional Purchase 6.27% 4/28/24
    30 Year Conventional Refi 6.28% 4/28/24
    30 Year Cash-out Refi 6.51% 4/28/24
    30 Year FHA Purchase 6.27% 4/28/24
    30 Year FHA Refi 6.27% 4/28/24
    30 Year VA Purchase 6.27% 4/28/24
    30 Year USDA Purchase 6.27% 4/28/24
    15 Year Conventional Purchase 5.79% 4/28/24
    15 Year Conventional Refi 6.21% 4/28/24
    15 Year Cash-out Refi 6.21% 4/28/24
    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

    4,090

    Origination Dollar Volume (All Markets)

    $860,590,000

    Awards

    SPOKANE TEACHERS 30 Year Conventional Loans bronze SPOKANE TEACHERS 30 Year Conventional Loans silver SPOKANE TEACHERS 30 Year Conventional Loans bronze SPOKANE TEACHERS 30 Year Conventional Loans silver
    Show all (4) 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) 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%
    Spokane Teachers's top markets include Spokane, Seattle, Kennewick, Sandpoint, and Moses Lake 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.

    Yakima Federal Savings and Loan Association
    Similarity Rank: 125
    Potlatch No. 1 Financial Credit Union
    Similarity Rank: 552
    SOUND
    Similarity Rank: 625
    America's Credit Union
    Similarity Rank: 945
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 1053
    NorthWest Plus Credit Union
    Similarity Rank: 1323
    HAPO COMMUNITY CREDIT UNION
    Similarity Rank: 1344
    Qualstar Credit Union
    Similarity Rank: 1518
    First Federal Savings and Loan Association of Port Angeles
    Similarity Rank: 1760
    CU HOME MORTGAGE SOLUTIONS, LLC
    Similarity Rank: 1833

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 2,685 $288,975,000 $107,626 n/a 5.73%
    Conventional 1,405 $571,615,000 $406,843 $4,743 4.91%

    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.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 1,605 $134,945,000 $84,078 $815 5.68%
    Other 928 $85,540,000 $92,177 $701 6.18%
    Home Purchase 654 $342,740,000 $524,067 $7,126 4.83%
    Refi 498 $192,910,000 $387,369 $3,978 5.33%
    Cash Out Refi 405 $104,455,000 $257,914 $5,278 4.00%

    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.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 3,494 $518,810,000 $148,486 $5,940 5.45%
    15 Year 207 $33,525,000 $161,957 $3,194 4.53%
    20 Year 177 $21,385,000 $120,819 $1,766 6.41%
    10 Year 151 $246,685,000 $1,633,675 $617 5.75%
    30+ year 28 $17,760,000 $634,286 $20,134 4.50%
    5 Year 27 $1,295,000 $47,963 $348 5.73%
    Other 6 $21,130,000 $3,521,667 $11,444 4.61%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 363 $31,805,000 $87,617
    $2k-3k 245 $54,465,000 $222,306
    $5k+ 212 $106,500,000 $502,358
    $3k-4k 184 $52,740,000 $286,630
    $1k-2k 127 $17,595,000 $138,543
    $4k-5k 127 $43,755,000 $344,528

    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.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 977 $238,025,000 $243,628
    6-7% 898 $108,430,000 $120,746
    4-5% 751 $258,645,000 $344,401
    5-6% 730 $166,470,000 $228,041
    7-8% 326 $34,800,000 $106,748
    Over 8% 256 $18,280,000 $71,406
    2.5-3% 92 $27,020,000 $293,696
    <2.5% 60 $8,920,000 $148,667

    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.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,954 $107,020,000 $54,770 $877 5.87%
    $100k-200k 1,040 $133,030,000 $127,913 $3,246 5.34%
    $200k-400k 774 $216,760,000 $280,052 $5,726 4.83%
    $400k-600k 224 $102,790,000 $458,884 $8,436 4.78%
    $600k-1MM 56 $41,950,000 $749,107 $15,183 4.56%
    $1MM+ 42 $259,040,000 $6,167,619 $24,562 4.63%

    2022 saw Spokane Teachers place emphasis on $100,000 or less loans with 1,954 originations, totaling $107,020,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,090 $161,430,000 $148,101 $4,650 5.55%
    $75k-100k 804 $106,960,000 $133,035 $4,429 5.57%
    $150k-250k 749 $135,265,000 $180,594 $6,419 5.51%
    $50k-75k 746 $88,580,000 $118,740 $4,026 5.46%
    $50k or less 312 $29,590,000 $94,840 $3,584 5.12%
    $250k+ 211 $56,445,000 $267,512 $9,808 5.27%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 820 $116,150,000 $141,646 $4,601 5.14%
    30-36% 745 $106,295,000 $142,678 $4,379 5.34%
    <20% 334 $44,290,000 $132,605 $4,494 4.87%
    50-60% 295 $36,865,000 $124,966 $2,654 6.09%
    42% 177 $29,315,000 $165,621 $6,315 5.60%
    39% 174 $29,130,000 $167,414 $5,513 5.32%
    37% 154 $23,980,000 $155,714 $5,143 5.50%
    43% 138 $22,590,000 $163,696 $4,946 5.70%
    41% 137 $21,355,000 $155,876 $5,474 5.83%
    40% 132 $20,520,000 $155,455 $3,928 5.72%
    36% 125 $20,045,000 $160,360 $4,685 5.55%
    44% 125 $21,605,000 $172,840 $6,469 5.55%
    46% 123 $19,675,000 $159,959 $5,975 5.90%
    38% 118 $14,080,000 $119,322 $3,295 5.85%
    45% 116 $18,690,000 $161,121 $4,909 5.62%
    49% 89 $15,945,000 $179,157 $4,774 5.74%
    47% 80 $12,040,000 $150,500 $5,010 6.14%
    48% 75 $12,025,000 $160,333 $5,006 5.85%
    >60% 73 $14,725,000 $201,712 $5,277 5.35%

    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.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 3,290 $493,060,000 $149,866 $4,792 5.43%
    Not applicable 55 $258,875,000 $4,706,818 $0 4.70%
    Not provided 561 $78,385,000 $139,724 $4,036 5.57%
    Black 47 $10,105,000 $215,000 $6,600 5.70%
    Asian 51 $9,895,000 $194,020 $6,044 5.11%
    American Indian 62 $7,540,000 $121,613 $4,479 5.72%
    Native Hawaiian or Islander 11 $945,000 $85,909 $5,000 5.56%
    Filipino 2 $770,000 $385,000 $6,698 5.25%
    Other Pacific Islander 4 $370,000 $92,500 $0 7.05%
    Asian Indian 3 $365,000 $121,667 $2,859 5.70%
    Korean 1 $105,000 $105,000 $210 6.74%
    Other Asian 1 $65,000 $65,000 $0 12.74%
    Japanese 1 $55,000 $55,000 $0 8.74%
    Chinese 1 $55,000 $55,000 $0 6.24%

    Approval Rates

    Total approvals of all applications
    86.93%

    Spokane Teachers has an average approval rate.

    Pick Rate

    Approvals leading to origination
    66.97%

    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 4,090 $860,590,000 $210,413

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    4,090 $860,590,000 $210,413

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 875 $129,995,000 $148,566 $3,052 5.50%
    40-60% 391 $178,525,000 $456,586 $5,732 4.65%
    60-80% 463 $311,275,000 $672,300 $6,973 4.56%
    80-100% 268 $105,620,000 $394,104 $7,010 4.94%
    Under 20% 2,093 $135,175,000 $64,584 $699 5.84%