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

Port Angeles, WA

LEI: 549300XW2H531FLD3I90

Tax ID: 91-0369590

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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 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.

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 6.44% 12/16/24
30 Year Conventional Refi 5.96% 12/16/24
30 Year Cash-out Refi 6.57% 12/16/24
30 Year VA Purchase 6.17% 12/16/24
30 Year VA Refi 6.27% 12/16/24
30 Year USDA Purchase 6.07% 12/16/24
15 Year Conventional Purchase 6.21% 12/16/24
15 Year Conventional Refi 6.06% 12/16/24
15 Year Cash-out Refi 6.06% 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.

First Federal Savings And Loan Association Of Port Angeles Mortgage Calculator






Your Estimates

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

This is not an official calculator from First Federal Savings And Loan Association Of Port Angeles. 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

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

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)
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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