Wheatland Bank Mortgage Rates, Fees & Info

Spokane, WA

LEI: 549300YD9NNO7W7TSI64

Tax ID: 91-1055499

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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

    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 19 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.

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    Originations

    370

    Origination Dollar Volume (All Markets)

    $110,500,000

    Awards

    Wheatland Bank FHA Loans gold Wheatland Bank 30 Year Conventional Loans gold Wheatland Bank 30 Year Conventional Loans bronze
    Show all (3) 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) 165 $46,685,000 $282,939 $9,169 5.42%
    Moses Lake, WA (FHA|USDA|VA) 55 $14,915,000 $271,182 $10,729 5.68%
    WENATCHEE, WA (FHA|USDA|VA) 33 $12,935,000 $391,970 $12,969 6.65%
    YAKIMA, WA (FHA|USDA|VA) 44 $10,000,000 $227,273 $8,464 6.09%
    KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 23 $9,315,000 $405,000 $8,026 5.65%
    Outside of Metro Areas 9 $4,635,000 $515,000 $11,533 6.36%
    Outside of Metro Areas 14 $2,340,000 $167,143 $7,015 5.74%
    Othello, WA (FHA|USDA|VA) 8 $1,790,000 $223,750 $8,329 5.11%
    WALLA WALLA, WA (FHA|USDA|VA) 3 $1,505,000 $501,667 $11,227 7.04%
    Sandpoint, ID (FHA|USDA|VA) 4 $1,230,000 $307,500 $8,118 7.06%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 2 $1,220,000 $610,000 $10,542 5.75%
    BOISE CITY, ID (FHA|USDA|VA) 2 $950,000 $475,000 $7,046 6.56%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $945,000 $945,000 $16,699 6.25%
    BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 1 $725,000 $725,000 $23,542 7.25%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $435,000 $435,000 $22,438 6.13%
    OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 1 $405,000 $405,000 $8,276 7.00%
    MEDFORD, OR (FHA|USDA|VA) 1 $205,000 $205,000 $8,598 6.00%
    Pullman, WA (FHA|USDA|VA) 2 $180,000 $90,000 $0 3.63%
    Ellensburg, WA (FHA|USDA|VA) 1 $85,000 $85,000 $0 6.75%
    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)
  • California (FHA|USDA|VA)
  • Oregon (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.

    Yakima Federal Savings and Loan Association
    Similarity Rank: 35
    Solarity Credit Union
    Similarity Rank: 55
    Cashmere Valley Bank
    Similarity Rank: 140
    LO, INC.
    Similarity Rank: 492
    LPMC, LLC
    Similarity Rank: 504
    CU HOME MORTGAGE SOLUTIONS, LLC
    Similarity Rank: 693
    HAPO COMMUNITY CREDIT UNION
    Similarity Rank: 855
    HOMEAMERICAN MORTGAGE CORPORATION
    Similarity Rank: 1276
    MORTGAGE LENDING GROUP LLC
    Similarity Rank: 1408
    America's Credit Union
    Similarity Rank: 1610

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 261 $76,105,000 $291,590 $8,537 5.33%
    FHA 90 $27,480,000 $305,333 $14,053 6.80%
    VA 19 $6,915,000 $363,947 $12,682 6.33%

    For 2023, Wheatland Bank's most frequently originated type of loan was Conventional, with 261 originations. Their 2nd most popular type was FHA, with 90 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 337 $100,325,000 $297,700 $10,165 5.64%
    Cash Out Refi 22 $6,820,000 $310,000 $7,350 6.78%
    Home Improvement 4 $900,000 $225,000 $5,249 6.97%
    Other 4 $1,280,000 $320,000 $8,940 6.59%
    Refi 3 $1,175,000 $391,667 $6,008 6.17%

    For 2023, Wheatland Bank's most frequently cited loan purpose was Home Purchase, with 337 originations. The 2nd most popular reason was Cash Out Refi, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 357 $102,505,000 $287,129 $9,934 5.70%
    15 Year 6 $1,730,000 $288,333 $6,143 6.27%
    10 Year 5 $5,705,000 $1,141,000 $0 6.95%
    20 Year 1 $205,000 $205,000 $8,970 6.63%
    Other 1 $355,000 $355,000 $0 7.15%

    For 2023, Wheatland Bank's most frequently cited loan duration was 30 Year, with 357 originations. The 2nd most popular length was 15 Year, with 6 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 134 $55,280,000 $412,537
    $4k-5k 66 $19,420,000 $294,242
    $<1k 62 $3,080,000 $49,677
    $3k-4k 42 $9,450,000 $225,000
    $1k-2k 26 $10,100,000 $388,462
    $2k-3k 24 $5,340,000 $222,500

    Wheatland Bank's average total fees were $9,934, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 134 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 184 $61,110,000 $332,120
    7-8% 77 $28,075,000 $364,610
    <2.5% 53 $665,000 $12,547
    5-6% 51 $19,685,000 $385,980
    Over 8% 3 $945,000 $315,000
    2.5-3% 2 $20,000 $10,000

    During 2023, Wheatland Bank's average interest rate for loans was 5.70%, while their most frequently originated rate bucket for loans was 6-7%, with 184 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 189 $55,635,000 $294,365 $9,416 6.68%
    $400k-600k 64 $29,940,000 $467,813 $11,304 6.70%
    $100,000 or less 60 $1,120,000 $18,667 $4,418 0.97%
    $100k-200k 37 $5,925,000 $160,135 $5,485 6.60%
    $600k-1MM 17 $12,325,000 $725,000 $15,215 6.49%
    $1MM+ 3 $5,555,000 $1,851,667 $24,162 6.18%

    2023 saw Wheatland Bank place emphasis on $200k-400k loans with 189 originations, totaling $55,635,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 105 $20,975,000 $199,762 $8,700 5.26%
    $100k-150k 96 $29,790,000 $310,313 $9,397 5.80%
    $75k-100k 72 $19,060,000 $264,722 $10,777 5.76%
    $150k-250k 44 $20,090,000 $456,591 $11,969 6.45%
    $50k or less 24 $3,060,000 $127,500 $5,753 5.33%
    $250k+ 19 $10,745,000 $565,526 $11,077 6.61%

    Wheatland Bank lent most frequently to those with incomes in the $50k-75k range, with 105 originations. The second most popular income band? $100k-150k, with 96 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 49 $12,455,000 $254,184 $13,918 5.06%
    30-36% 39 $11,985,000 $307,308 $8,278 6.32%
    45% 28 $7,500,000 $267,857 $9,683 5.54%
    48% 28 $7,730,000 $276,071 $11,639 5.31%
    44% 28 $7,870,000 $281,071 $8,149 5.85%
    46% 20 $5,290,000 $264,500 $10,787 5.59%
    47% 20 $5,200,000 $260,000 $10,932 5.43%
    49% 19 $5,425,000 $285,526 $9,978 5.74%
    38% 16 $4,200,000 $262,500 $9,211 5.75%
    43% 16 $3,640,000 $227,500 $8,507 5.13%
    39% 15 $5,905,000 $393,667 $11,514 6.13%
    20-30% 15 $4,425,000 $295,000 $7,946 6.37%
    42% 14 $4,940,000 $352,857 $7,506 6.27%
    37% 14 $4,600,000 $328,571 $9,740 5.67%
    40% 14 $3,930,000 $280,714 $10,825 5.30%
    <20% 12 $4,190,000 $349,167 $8,369 6.36%
    41% 12 $3,190,000 $265,833 $9,009 6.28%
    36% 5 $1,965,000 $393,000 $11,565 6.87%

    Wheatland Bank lent most frequently to those with DTI ratios of 50-60%, with 49 originations. The next most common DTI ratio? 30-36%, with 39 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 284 $82,490,000 $290,458 $9,941 5.82%
    Not provided 65 $17,415,000 $267,923 $9,022 5.30%
    Not applicable 6 $6,060,000 $1,010,000 $0 6.98%
    American Indian 8 $1,980,000 $247,500 $9,672 5.19%
    Asian 2 $1,020,000 $510,000 $10,021 6.56%
    Black 2 $830,000 $415,000 $11,503 6.31%
    Other Asian 3 $705,000 $235,000 $16,405 5.08%

    Approval Rates

    Total approvals of all applications
    87.81%

    Wheatland Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    58.38%

    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 370 $110,500,000 $298,649

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    370 $110,500,000 $298,649

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 11 $3,115,000 $283,182 $5,514 6.83%
    40-60% 36 $11,180,000 $310,556 $6,527 6.41%
    60-80% 54 $22,950,000 $425,000 $9,867 6.70%
    80-100% 206 $68,900,000 $334,466 $10,586 6.68%
    Over 100% 6 $2,510,000 $418,333 $15,646 6.56%
    Under 20% 57 $1,845,000 $32,368 $12,841 0.69%