Seattle Bank Mortgage Rates, Fees & Info
Seattle, WALEI: 549300X01FL2VJJGCI54
Tax ID: 91-1984151
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Seattle Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Seattle Bank has a high proportion of conventional loans. Their top markets by origination volume include: Seattle, Phoenix, and Bremerton among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Seattle Bank 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. Seattle Bank is typically a high 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.
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Originations
17Origination Dollar Volume (All Markets)
$45,055,000Top 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 |
|---|---|---|---|---|---|
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 14 | $41,260,000 | $2,947,143 | $67,029 | 4.59% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $2,605,000 | $2,605,000 | $33,005 | 4.63% |
| Outside of Metro Areas | 1 | $825,000 | $825,000 | $0 | 5.50% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $7,010 | 3.63% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 17 | $45,055,000 | $2,650,294 | $53,594 | 4.59% |
For 2022, Seattle Bank's most frequently originated type of loan was Conventional, with 17 originations.
Loan Reason
For 2022, Seattle Bank's most frequently cited loan purpose was Home Purchase, with 8 originations. The 2nd most popular reason was Cash Out Refi, with 8 originations.
Loan Duration/Length
For 2022, Seattle Bank's most frequently cited loan duration was 10 Year, with 8 originations. The 2nd most popular length was 30 Year, with 7 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $5k+ | 6 | $26,180,000 | $4,363,333 |
| $4k-5k | 1 | $365,000 | $365,000 |
Seattle Bank's average total fees were $53,594, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 6 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 9 | $30,405,000 | $3,378,333 |
| 5-6% | 5 | $10,275,000 | $2,055,000 |
| 3-4% | 2 | $3,370,000 | $1,685,000 |
| 2.5-3% | 1 | $1,005,000 | $1,005,000 |
During 2022, Seattle Bank's average interest rate for loans was 4.02%, while their most frequently originated rate bucket for loans was 4-5%, with 9 originations.
Loan Sizing
2022 saw Seattle Bank place emphasis on $1MM+ loans with 13 originations, totaling $42,105,000 in origination value.
Applicant Income
Seattle Bank lent most frequently to those with incomes in the $250k+ range, with 5 originations. The second most popular income band? $150k-250k, with 1 originations.
Applicant Debt to Income Ratio
Seattle Bank lent most frequently to those with DTI ratios of <20%, with 2 originations. The next most common DTI ratio? 20-30%, with 2 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.43%
Seattle Bank has an average approval rate.
Pick Rate
Approvals leading to origination88.24%
Seattle Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 17 | $45,055,000 | $2,650,294 |