Wheatland Bank Mortgage Rates, Fees & Info

Spokane, WA

LEI: 549300YD9NNO7W7TSI64

Tax ID: 91-1055499

4.4 stars - Updated: 9/18/23 - out of 5 stars, based on 20 reviews

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Wheatland Bank is a smaller bank specializing in Home Purchase loans. Wheatland Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Spokane, Moses Lake, Wenatchee, Yakima, and Kennewick among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)

Wheatland Bank 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. Wheatland Bank 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.

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
30 Year Conventional Purchase 5.86% 9/18/23
30 Year Conventional Refi 6.76% 9/18/23
30 Year Cash-out Refi 6.82% 9/18/23
30 Year FHA Purchase 7.84% 9/18/23
30 Year FHA Refi 6.27% 9/18/23
30 Year VA Purchase 6.46% 9/18/23
15 Year Conventional Purchase 6.13% 9/18/23
15 Year Conventional Refi 5.82% 9/18/23
15 Year Cash-out Refi 5.82% 9/18/23
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.

Wheatland Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from Wheatland Bank. 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

410

Origination Dollar Volume (All Markets)

$122,370,000

Awards

Wheatland Bank 30 Year Conventional Loans bronze
Show all (1) awards

Relative Rate

Wheatland Bank's average 30 year fixed mortgage rate was 4.59%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of -0.17%.

Relative Fees (Closing Costs)

Wheatland Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $7,612.

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
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 207 $61,525,000 $297,222 $7,937 4.45%
Moses Lake, WA (FHA|USDA|VA) 53 $17,095,000 $322,547 $7,821 4.37%
WENATCHEE, WA (FHA|USDA|VA) 43 $15,185,000 $353,140 $7,871 5.06%
YAKIMA, WA (FHA|USDA|VA) 56 $15,000,000 $267,857 $6,461 4.89%
Outside of Metro Areas 19 $4,435,000 $233,421 $5,497 4.88%
Outside of Metro Areas 7 $2,525,000 $360,714 $10,464 5.43%
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 7 $1,885,000 $269,286 $7,511 4.43%
WALLA WALLA, WA (FHA|USDA|VA) 5 $1,485,000 $297,000 $6,056 6.60%
Astoria, OR (FHA|USDA|VA) 1 $635,000 $635,000 $9,417 3.50%
Pullman, WA (FHA|USDA|VA) 3 $565,000 $188,333 $9,071 3.83%
Othello, WA (FHA|USDA|VA) 2 $490,000 $245,000 $6,507 5.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $485,000 $485,000 $5,817 3.88%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 2 $300,000 $150,000 $0 3.94%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 2 $300,000 $150,000 $0 3.88%
TUCSON, AZ (FHA|USDA|VA) 1 $285,000 $285,000 $5,160 4.00%
LEWISTON, ID-WA (FHA|USDA|VA) 1 $175,000 $175,000 $4,787 6.50%
Wheatland Bank's top markets include Spokane, Moses Lake, Wenatchee, Yakima, and Kennewick among others.

Their top states include:
  • Washington (FHA|USDA|VA)
  • Idaho (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Oregon (FHA|USDA|VA)
  • Montana (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Wheatland Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    SPOKANE FIREFIGHTERS CREDIT UNION
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 315 $92,775,000 $294,524 $6,576 4.46%
    FHA 73 $21,625,000 $296,233 $11,692 5.27%
    VA 22 $7,970,000 $362,273 $10,757 4.66%

    For 2022, Wheatland Bank's most frequently originated type of loan was Conventional, with 315 originations. Their 2nd most popular type was FHA, with 73 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 343 $101,645,000 $296,341 $7,788 4.61%
    Cash Out Refi 43 $13,025,000 $302,907 $7,281 4.73%
    Refi 14 $4,740,000 $338,571 $5,034 4.71%
    Other 8 $2,760,000 $345,000 $6,292 4.23%
    Home Improvement 2 $200,000 $100,000 $5,025 4.94%

    For 2022, Wheatland Bank's most frequently cited loan purpose was Home Purchase, with 343 originations. The 2nd most popular reason was Cash Out Refi, with 43 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 384 $112,200,000 $292,188 $7,612 4.59%
    10 Year 11 $6,625,000 $602,273 $0 5.43%
    15 Year 7 $1,725,000 $246,429 $6,860 3.54%
    Other 5 $1,155,000 $231,000 $6,917 6.73%
    20 Year 2 $400,000 $200,000 $6,941 4.75%
    1 Year 1 $265,000 $265,000 $5,024 5.00%

    For 2022, Wheatland Bank's most frequently cited loan duration was 30 Year, with 384 originations. The 2nd most popular length was 10 Year, with 11 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 79 $32,295,000 $408,797
    $3k-4k 78 $20,950,000 $268,590
    $4k-5k 72 $23,320,000 $323,889
    $1k-2k 60 $20,250,000 $337,500
    $<1k 50 $1,840,000 $36,800
    $2k-3k 40 $11,110,000 $277,750

    Wheatland Bank's average total fees were $7,612, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 79 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 138 $46,720,000 $338,551
    4-5% 76 $26,800,000 $352,632
    3-4% 71 $24,355,000 $343,028
    6-7% 59 $18,835,000 $319,237
    <2.5% 47 $915,000 $19,468
    7-8% 10 $2,650,000 $265,000
    2.5-3% 6 $1,650,000 $275,000
    Over 8% 3 $445,000 $148,333

    During 2022, Wheatland Bank's average interest rate for loans was 4.59%, while their most frequently originated rate bucket for loans was 5-6%, with 138 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 237 $71,205,000 $300,443 $7,524 5.19%
    $400k-600k 76 $35,220,000 $463,421 $8,602 5.15%
    $100,000 or less 53 $1,135,000 $21,415 $5,010 0.87%
    $100k-200k 32 $5,290,000 $165,313 $5,412 5.45%
    $600k-1MM 11 $7,945,000 $722,273 $9,506 4.50%
    $1MM+ 1 $1,575,000 $1,575,000 $0 3.75%

    2022 saw Wheatland Bank place emphasis on $200k-400k loans with 237 originations, totaling $71,205,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 107 $26,065,000 $243,598 $6,613 4.69%
    $75k-100k 97 $26,245,000 $270,567 $7,588 4.24%
    $100k-150k 91 $31,885,000 $350,385 $8,616 4.58%
    $50k or less 46 $7,770,000 $168,913 $6,210 4.12%
    $150k-250k 43 $17,405,000 $404,767 $8,930 5.58%
    $250k+ 9 $4,335,000 $481,667 $8,466 4.99%

    Wheatland Bank lent most frequently to those with incomes in the $50k-75k range, with 107 originations. The second most popular income band? $75k-100k, with 97 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 51 $17,755,000 $348,137 $7,283 4.91%
    43% 41 $11,145,000 $271,829 $7,267 4.47%
    20-30% 40 $13,180,000 $329,500 $7,076 4.86%
    48% 30 $7,090,000 $236,333 $8,372 4.24%
    45% 26 $6,030,000 $231,923 $6,356 4.21%
    42% 23 $6,445,000 $280,217 $7,606 5.39%
    49% 22 $4,530,000 $205,909 $8,594 3.75%
    44% 22 $5,420,000 $246,364 $8,086 4.38%
    41% 19 $5,675,000 $298,684 $8,744 4.82%
    39% 18 $6,520,000 $362,222 $7,626 5.14%
    46% 18 $4,170,000 $231,667 $7,777 4.40%
    47% 17 $5,225,000 $307,353 $6,779 4.59%
    40% 16 $4,020,000 $251,250 $8,743 4.55%
    36% 12 $3,530,000 $294,167 $6,641 4.23%
    <20% 11 $4,415,000 $401,364 $7,845 4.78%
    37% 11 $3,245,000 $295,000 $5,511 4.18%
    38% 10 $3,570,000 $357,000 $6,699 4.33%
    50-60% 9 $3,295,000 $366,111 $11,574 5.17%
    >60% 1 $275,000 $275,000 $5,925 3.88%

    Wheatland Bank lent most frequently to those with DTI ratios of 30-36%, with 51 originations. The next most common DTI ratio? 43%, with 41 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 327 $98,135,000 $300,107 $7,469 4.71%
    Not provided 50 $13,660,000 $273,200 $8,442 4.28%
    Not applicable 9 $4,835,000 $537,222 $0 5.32%
    Asian 6 $1,930,000 $321,667 $9,867 5.02%
    American Indian 4 $1,180,000 $295,000 $7,559 5.34%
    Black 6 $1,160,000 $193,333 $5,199 3.23%
    Native Hawaiian or Islander 5 $1,055,000 $211,000 $6,968 2.85%
    Filipino 2 $290,000 $145,000 $0 2.00%
    Asian Indian 1 $125,000 $125,000 $3,955 3.00%

    Approval Rates

    Total approvals of all applications
    89.47%

    Wheatland Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    60.00%

    Wheatland Bank 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 410 $122,370,000 $298,463

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    410 $122,370,000 $298,463

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $1,220,000 $152,500 $4,989 4.61%
    40-60% 29 $7,985,000 $275,345 $7,171 4.98%
    60-80% 105 $37,605,000 $358,143 $6,696 5.09%
    80-100% 211 $71,415,000 $338,460 $7,852 5.29%
    Over 100% 8 $3,090,000 $386,250 $15,271 4.66%
    Under 20% 49 $1,055,000 $21,531 $2,547 0.51%