First Federal Savings And Loan Association Of Port Angeles Mortgage Rates, Fees & Info

Port Angeles, WA

LEI: 549300XW2H531FLD3I90

Tax ID: 91-0369590

5 stars

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

Review & Overview

First Federal Savings And Loan Association Of Port Angeles is a smaller mortgage company specializing in Home Purchase and Refi loans. First Federal Savings And Loan Association Of Port Angeles has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Seattle, Port Angeles, Bremerton, Bellingham, and Kennewick among others. We have data for 24 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Federal Savings And Loan Association Of Port Angeles 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. First Federal Savings And Loan Association Of Port Angeles 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 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.

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
30 Year Conventional Purchase	6.56%	3/19/23
30 Year Conventional Refi	6.44%	3/19/23
30 Year Cash-out Refi	6.57%	3/19/23
30 Year VA Purchase	6.45%	3/19/23
30 Year VA Refi	6.27%	3/19/23
30 Year USDA Purchase	6.69%	3/19/23
30 Year USDA Refi	6.27%	3/19/23
15 Year Conventional Purchase	6.05%	3/19/23
15 Year Conventional Refi	6.05%	3/19/23
15 Year Cash-out Refi	6.05%	3/19/23
15 Year VA Refi	5.75%	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

758

Origination Dollar Volume (All Markets)

$511,290,000

Employee count

289

Awards

First Federal Savings and Loan Association of Port Angeles 30 Year Conventional Loans silver

First Federal Savings and Loan Association of Port Angeles 30 Year Conventional Loans bronze

Show all (2) awards

Relative Rate

First Federal Savings And Loan Association Of Port Angeles's average 30 year fixed mortgage rate was 3.13%.

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

This yields a difference of -0.02%.

Relative Fees (Closing Costs)

First Federal Savings And Loan Association Of Port Angeles's average total fees/closing costs for a 30 year fixed rate mortgage were $3,692.

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
Seattle-Tacoma-Bellevue, WA (FHA\|USDA\|VA)	139	$221,175,000	$1,591,187	$5,420	3.50%
Port Angeles, WA (FHA\|USDA\|VA)	307	$86,645,000	$282,231	$3,247	3.07%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA\|USDA\|VA)	77	$54,395,000	$706,429	$3,923	3.22%
BELLINGHAM, WA (FHA\|USDA\|VA)	70	$36,240,000	$517,714	$3,594	3.08%
Outside of Metro Areas	100	$33,690,000	$336,900	$3,425	3.16%
KENNEWICK-RICHLAND, WA (FHA\|USDA\|VA)	2	$17,020,000	$8,510,000	$0	3.95%
Outside of Metro Areas	4	$14,530,000	$3,632,500	$0	3.75%
OLYMPIA-LACEY-TUMWATER, WA (FHA\|USDA\|VA)	5	$8,205,000	$1,641,000	$3,514	3.53%
Shelton, WA (FHA\|USDA\|VA)	15	$7,355,000	$490,333	$4,826	3.55%
WENATCHEE, WA (FHA\|USDA\|VA)	7	$5,925,000	$846,429	$3,387	3.37%
Ellensburg, WA (FHA\|USDA\|VA)	8	$5,450,000	$681,250	$6,032	3.23%
MOUNT VERNON-ANACORTES, WA (FHA\|USDA\|VA)	5	$3,555,000	$711,000	$3,467	3.35%
LONGVIEW, WA (FHA\|USDA\|VA)	2	$3,040,000	$1,520,000	$0	4.08%
Hermiston-Pendleton, OR (FHA\|USDA\|VA)	1	$2,965,000	$2,965,000	$0	3.82%
Prineville, OR (FHA\|USDA\|VA)	2	$2,590,000	$1,295,000	$0	4.25%
ALBANY-LEBANON, OR (FHA\|USDA\|VA)	1	$2,385,000	$2,385,000	$0	3.61%
SPOKANE-SPOKANE VALLEY, WA (FHA\|USDA\|VA)	3	$1,845,000	$615,000	$3,962	3.08%
YAKIMA, WA (FHA\|USDA\|VA)	1	$1,425,000	$1,425,000	$0	3.55%
Centralia, WA (FHA\|USDA\|VA)	2	$1,010,000	$505,000	$3,457	2.85%
WALLA WALLA, WA (FHA\|USDA\|VA)	1	$765,000	$765,000	$7,331	3.13%
Oak Harbor, WA (FHA\|USDA\|VA)	3	$745,000	$248,333	$2,596	2.63%
Brookings, OR (FHA\|USDA\|VA)	1	$155,000	$155,000	$3,035	3.25%
Moses Lake, WA (FHA\|USDA\|VA)	1	$105,000	$105,000	$1,282	3.38%
Klamath Falls, OR (FHA\|USDA\|VA)	1	$75,000	$75,000	$0	3.38%

First Federal Savings And Loan Association Of Port Angeles's top markets include Seattle, Port Angeles, Bremerton, Bellingham, and Kennewick 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 First Federal Savings and Loan Association of Port Angeles 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	740	$505,010,000	$682,446	$3,620	3.22%
VA	16	$5,590,000	$349,375	$6,533	2.88%
USDA	2	$690,000	$345,000	$6,092	2.81%

For 2021, First Federal Savings And Loan Association Of Port Angeles's most frequently originated type of loan was Conventional, with 740 originations. Their 2nd most popular type was VA, with 16 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	282	$330,930,000	$1,173,511	$5,448	3.45%
Refi	262	$120,670,000	$460,573	$2,745	2.97%
Cash Out Refi	158	$46,230,000	$292,595	$3,286	3.04%
Home Improvement	39	$11,335,000	$290,641	$886	3.62%
Other	17	$2,125,000	$125,000	$1,652	3.53%

For 2021, First Federal Savings And Loan Association Of Port Angeles's most frequently cited loan purpose was Home Purchase, with 282 originations. The 2nd most popular reason was Refi, with 262 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	373	$156,265,000	$418,941	$3,692	3.13%
15 Year	151	$26,555,000	$175,861	$1,927	2.80%
30+ year	109	$74,365,000	$682,248	$6,376	3.52%
10 Year	46	$102,690,000	$2,232,391	$1,126	3.64%
20 Year	33	$8,275,000	$250,758	$3,236	2.91%
Other	22	$62,870,000	$2,857,727	$3,792	4.18%
5 Year	12	$37,710,000	$3,142,500	$0	4.08%
3 Year	7	$36,465,000	$5,209,286	$0	4.01%
1 Year	5	$6,095,000	$1,219,000	$0	4.80%

For 2021, First Federal Savings And Loan Association Of Port Angeles's most frequently cited loan duration was 30 Year, with 373 originations. The 2nd most popular length was 15 Year, with 151 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	397	$150,975,000	$380,290
$1k-2k	130	$36,980,000	$284,462
$2k-3k	48	$18,010,000	$375,208
$4k-5k	21	$12,015,000	$572,143
$5k+	17	$22,765,000	$1,339,118
$3k-4k	11	$5,715,000	$519,545

First Federal Savings And Loan Association Of Port Angeles's average total fees were $3,692, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 397 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
3-4%	357	$302,915,000	$848,501
2.5-3%	286	$97,100,000	$339,510
<2.5%	64	$19,060,000	$297,813
4-5%	46	$81,420,000	$1,770,000
5-6%	5	$10,795,000	$2,159,000

During 2021, First Federal Savings And Loan Association Of Port Angeles's average interest rate for loans was 3.13%, while their most frequently originated rate bucket for loans was 3-4%, with 357 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	234	$68,870,000	$294,316	$3,432	3.11%
$100k-200k	147	$21,755,000	$147,993	$2,420	2.91%
$400k-600k	147	$70,615,000	$480,374	$4,558	3.26%
$1MM+	97	$289,565,000	$2,985,206	$8,024	3.70%
$600k-1MM	73	$56,685,000	$776,507	$5,819	3.40%
$100,000 or less	60	$3,800,000	$63,333	$1,192	3.20%

2021 saw First Federal Savings And Loan Association Of Port Angeles place emphasis on $200k-400k loans with 234 originations, totaling $68,870,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	152	$53,770,000	$353,750	$3,561	3.16%
$150k-250k	136	$64,720,000	$475,882	$4,248	3.13%
$50k-75k	125	$26,955,000	$215,640	$2,845	3.04%
$75k-100k	98	$28,050,000	$286,224	$3,753	3.07%
$250k+	84	$79,680,000	$948,571	$6,178	3.25%
$50k or less	66	$8,950,000	$135,606	$2,202	2.93%

First Federal Savings And Loan Association Of Port Angeles lent most frequently to those with incomes in the $100k-150k range, with 152 originations. The second most popular income band? $150k-250k, with 136 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	167	$57,225,000	$342,665	$3,603	3.07%
30-36%	112	$47,050,000	$420,089	$3,784	3.21%
<20%	98	$29,050,000	$296,429	$2,922	2.91%
42%	33	$15,665,000	$474,697	$4,326	3.28%
39%	28	$14,180,000	$506,429	$4,483	3.21%
41%	26	$9,780,000	$376,154	$3,842	3.07%
43%	26	$12,290,000	$472,692	$4,064	3.13%
40%	24	$11,480,000	$478,333	$3,693	3.13%
36%	23	$9,415,000	$409,348	$4,554	3.20%
37%	20	$12,170,000	$608,500	$3,777	3.09%
38%	20	$9,560,000	$478,000	$5,178	3.09%
44%	19	$6,565,000	$345,526	$3,186	3.11%
47%	17	$5,665,000	$333,235	$2,930	3.24%
46%	15	$7,985,000	$532,333	$3,385	3.09%
45%	13	$4,235,000	$325,769	$4,331	3.01%
48%	12	$5,050,000	$420,833	$4,026	3.36%
49%	10	$3,640,000	$364,000	$3,429	3.16%
50-60%	8	$3,090,000	$386,250	$3,794	3.13%

First Federal Savings And Loan Association Of Port Angeles lent most frequently to those with DTI ratios of 20-30%, with 167 originations. The next most common DTI ratio? 30-36%, with 112 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
Not applicable	84	$246,010,000	$2,928,690	$0	3.97%
White	544	$210,240,000	$386,471	$3,662	3.11%
Not provided	68	$29,020,000	$426,765	$4,238	3.15%
Asian	47	$21,635,000	$460,319	$3,707	3.09%
American Indian	12	$2,850,000	$237,500	$2,757	3.13%
Black	3	$1,535,000	$511,667	$3,911	3.41%

Approval Rates

Total approvals of all applications
94.48%

First Federal Savings And Loan Association Of Port Angeles has an average approval rate.

Pick Rate

Approvals leading to origination
80.08%

First Federal Savings And Loan Association Of Port Angeles has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	758	$511,290,000	$674,525

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	758	$511,290,000	$674,525

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	144	$34,150,000	$237,153	$2,519	2.93%
40-60%	207	$150,245,000	$725,821	$3,501	3.11%
60-80%	276	$274,130,000	$993,225	$4,609	3.38%
80-100%	74	$34,230,000	$462,568	$4,859	3.14%
Over 100%	1	$425,000	$425,000	$15,464	3.25%
Under 20%	55	$18,085,000	$328,818	$1,388	3.53%

Complaints

Bank Name	Product	Issue	2021 CPFB Complaints	% of Total Issues
FIRST AMERICAN FINANCIAL CORPORATION	Other type of mortgage	Applying for a mortgage or refinancing an existing mortgage	1	14.3%
FIRST AMERICAN FINANCIAL CORPORATION	Conventional home mortgage	Trouble during payment process	3	42.9%
FIRST AMERICAN FINANCIAL CORPORATION	Conventional home mortgage	Applying for a mortgage or refinancing an existing mortgage	1	14.3%
FIRST AMERICAN FINANCIAL CORPORATION	Other type of mortgage	Trouble during payment process	1	14.3%
FIRST AMERICAN FINANCIAL CORPORATION	VA mortgage	Applying for a mortgage or refinancing an existing mortgage	1	14.3%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
First Federal Savings and Loan Association of Port Angeles	105 W 8th St Port Angeles, WA 98362	Full Service B&M	$0
First Federal Savings and Loan Association of Port Angeles	1201 West Washington Street Sequim, WA 98382	Full Service B&M	$172,031
First Federal Savings and Loan Association of Port Angeles	1270 Barkley Boulevard Bellingham, WA 98226	Full Service B&M	$88,344
First Federal Savings and Loan Association of Port Angeles	131 Calawah Way Forks, WA 98331	Full Service B&M	$126,701
First Federal Savings and Loan Association of Port Angeles	1321 Sims Way Port Townsend, WA 98368	Full Service B&M	$192,788
First Federal Savings and Loan Association of Port Angeles	141 West First Street Port Angeles, WA 98362	Limited, Administrative	$0
First Federal Savings and Loan Association of Port Angeles	1603 East First Street Port Angeles, WA 98362	Full Service B&M	$326,170
First Federal Savings and Loan Association of Port Angeles	227 East 6th Street Port Angeles, WA 98362	Full Service B&M	$189,326
First Federal Savings and Loan Association of Port Angeles	3035 Bucklin Hill Rd Silverdale, WA 98383	Full Service B&M	$110,133
First Federal Savings and Loan Association of Port Angeles	323 High School Road Bainbridge Island, WA 98110	Full Service B&M	$46,660
First Federal Savings and Loan Association of Port Angeles	333 North Sequim Avenue Sequim, WA 98382	Full Service B&M	$197,301
First Federal Savings and Loan Association of Port Angeles	960 Harris Avenue, Suite 101 Bellingham, WA 98225	Full Service B&M	$23,079

For 2021, First Federal Savings And Loan Association Of Port Angeles had 12 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$63,817
Net interest income	$59,409
Total noninterest income	$11,785
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$1,062
Trading account gains and fees	$0
Additional Noninterest Income	$10,723
Pre-tax net operating income	$17,957
Securities gains (or losses, -)	$2,410
Income before extraordinary items	$16,804
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$16,804
Minority interest net income	$0
Net income	$16,804
Sale, conversion, retirement of capital stock, net	$2,724
Net operating income	$14,803

First Federal Savings And Loan Association Of Port Angeles's gross interest income from loans was $63,817,000.
First Federal Savings And Loan Association Of Port Angeles's net interest income from loans was $59,409,000.
First Federal Savings And Loan Association Of Port Angeles's fee based income from loans was $1,062,000.
First Federal Savings And Loan Association Of Port Angeles's net income from loans was $16,804,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$4,408
Provision for credit losses	$1,350
Total noninterest expense	$51,887
Salaries and employee benefits	$32,184
Premises and equipment expense	$4,256
Additional noninterest expense	$15,447
Applicable income taxes	$3,563
Net charge-offs	$73
Cash dividends	$1,000

First Federal Savings And Loan Association Of Port Angeles's interest expense for loans was $4,408,000.
First Federal Savings And Loan Association Of Port Angeles's payroll and benefits expense were $32,184,000.
First Federal Savings And Loan Association Of Port Angeles's property, plant and equipment expenses $4,256,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	0.0%
Real Estate loans	0.0%
Construction & Land Development loans	0.0%
Nonfarm, nonresidential loans	0.0%
Multifamily residential loans	0.0%
1-4 family residential loans	0.0%
HELOC loans	0.0%
All other family	0.0%
Commercial & industrial loans	0.0%
Personal loans	0.0%
Credit card loans	0.0%
Other individual loans	0.0%
Auto loans	0.0%
Other consumer loans	0.0%
Unsecured commercial real estate loans	0.0%

Deposits

Type	Value (in 000's)
Total deposits	$1,604,816
Deposits held in domestic offices	$1,604,816
Deposits by Individuals, partnerships, and corporations	$1,436,048
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$168,023
Deposits by Commercial banks and other depository institutions in U.S.	$745
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$690,997
Demand deposits	$381,172
Nontransaction accounts	$913,819
Money market deposit accounts (MMDAs)	$597,816
Other savings deposits (excluding MMDAs)	$68,618
Total time deposits	$247,384
Total time and savings deposits	$1,223,644
Noninterest-bearing deposits	$368,170
Interest-bearing deposits	$1,236,646
Retail deposits	$1,463,997
IRAs and Keogh plan accounts	$32,096
Brokered deposits	$65,734
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$1,917,431
Cash & Balances due from depository institutions	$126,016
Interest-bearing balances	$112,148
Total securities	$344,211
Federal funds sold & reverse repurchase	$0
Net loans and leases	$1,351,305
Loan and leases loss allowance	$15,124
Trading account assets	$0
Bank premises and fixed assets	$25,020
Other real estate owned	$0
Goodwill and other intangibles	$4,465
All other assets	$66,414

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$1,917,431
Total Liabilities	$1,718,771
Total deposits	$1,604,816
Interest-bearing deposits	$1,236,646
Deposits held in domestic offices	$1,604,816
% insured (estimated)	$88
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$97,450
Subordinated debt	$0
All other liabilities	$16,505

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$1,351,305
Loan and leases loss allowance	$15,124
Total loans and leases (domestic)	$1,366,429
All real estate loans	$1,091,422
Real estate loans in domestic offices	$1,091,422
Construction and development loans	$226,553
Residential 1-4 family construction	$68,793
Other construction, all land development and other land	$157,760
Loans secured by nonfarm nonresidential properties	$339,413
Nonfarm nonresidential secured by owner-occupied properties	$100,681
Commercial real estate & other non-farm, non-residential	$238,732
Multifamily residential real estate	$167,542
1-4 family residential loans	$357,914
Farmland loans	$0
Loans held in foreign offices	$0
Farm loans	$1,103
Commercial and industrial loans	$50,948
To non-U.S. addressees	$0
Loans to individuals	$196,150
Credit card loans	$0
Related Plans	$359
Consumer Auto Loans	$125,308
Other loans to individuals	$70,483
All other loans & leases	$26,806
Loans to foreign governments and official institutions	$0
Other loans	$26,334
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$0
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$1,705
Non 1-4 family restructured loans & leases	$0
Total loans and leases (foreign)	$0

First Federal Savings and Loan Association of Port Angeles had $1,351,305,000 of loans outstanding in 2021. $1,091,422,000 of loans were in real estate loans. $226,553,000 of loans were in development loans. $167,542,000 of loans were in multifamily mortgage loans. $357,914,000 of loans were in 1-4 family mortgage loans. $1,103,000 of loans were in farm loans. $0 of loans were in credit card loans. $125,308,000 of loans were in the auto loan category.

Small Business Loans

Categorization	# of Loans in Category	$ amount of loans (in 000's)	Average $/loan
Nonfarm, nonresidential loans - <$1MM	128	$47,626	$372,078
Nonfarm, nonresidential loans - <$100k	9	$219	$24,333
Nonfarm, nonresidential loans - $100-250k	35	$4,859	$138,829
Nonfarm, nonresidential loans - $250k-1MM	84	$42,548	$506,524
Commercial & Industrial, US addressed loans - <$1MM	262	$26,342	$100,542
Commercial & Industrial, US addressed loans - <$100k	165	$3,409	$20,661
Commercial & Industrial, US addressed loans - $100-250k	42	$3,925	$93,452
Commercial & Industrial, US addressed loans - $250k-1MM	55	$19,008	$345,600
Agriculture operations loans - <$1MM	7	$1,103	$157,571
Agriculture operations loans - <$100k	1	$34	$34,000
Agriculture operations loans - $100-250k	4	$644	$161,000
Agriculture operations loans - $250k-1MM	2	$425	$212,500