Wheatland Bank Mortgage Rates, Fees & Info

Spokane, WA

LEI: 549300YD9NNO7W7TSI64

Tax ID: 91-1055499

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Mortgage Data

Bank 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, Wenatchee, Moses Lake, Kennewick, and Yakima among others. We have data for 30 markets. (Some data included below & more in-depth data is available with an active subscription.)

Wheatland 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. 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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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 5.86% 3/28/24
30 Year Conventional Refi 6.76% 3/28/24
30 Year Cash-out Refi 6.82% 3/28/24
30 Year FHA Purchase 7.84% 3/28/24
30 Year FHA Refi 6.27% 3/28/24
30 Year VA Purchase 6.46% 3/28/24
15 Year Conventional Purchase 6.13% 3/28/24
15 Year Conventional Refi 5.82% 3/28/24
15 Year Cash-out Refi 5.82% 3/28/24
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.

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

840

Origination Dollar Volume (All Markets)

$228,320,000

Employee count

142

Awards

Wheatland Bank 30 Year Conventional Loans bronze
Show all (1) 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) 527 $135,035,000 $256,233 $5,562 2.77%
WENATCHEE, WA (FHA|USDA|VA) 98 $33,450,000 $341,327 $4,956 2.99%
Moses Lake, WA (FHA|USDA|VA) 81 $22,995,000 $283,889 $5,043 3.01%
Outside of Metro Areas 36 $7,150,000 $198,611 $5,585 2.84%
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 24 $6,080,000 $253,333 $4,825 2.85%
YAKIMA, WA (FHA|USDA|VA) 18 $5,760,000 $320,000 $6,966 2.76%
Outside of Metro Areas 12 $4,020,000 $335,000 $7,338 3.29%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 11 $3,325,000 $302,273 $4,235 3.03%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 4 $1,250,000 $312,500 $4,496 3.38%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 2 $1,210,000 $605,000 $4,943 3.31%
Othello, WA (FHA|USDA|VA) 4 $930,000 $232,500 $5,029 3.16%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $755,000 $755,000 $5,099 3.50%
WALLA WALLA, WA (FHA|USDA|VA) 2 $550,000 $275,000 $4,212 3.00%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 1 $545,000 $545,000 $4,421 2.88%
Moscow, ID (FHA|USDA|VA) 2 $540,000 $270,000 $5,305 3.50%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $505,000 $505,000 $0 3.63%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 2 $420,000 $210,000 $3,157 3.00%
Aberdeen, WA (FHA|USDA|VA) 1 $415,000 $415,000 $5,303 3.00%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $395,000 $395,000 $9,070 2.88%
Ellensburg, WA (FHA|USDA|VA) 2 $380,000 $190,000 $6,567 3.44%
Sandpoint, ID (FHA|USDA|VA) 1 $355,000 $355,000 $6,480 2.75%
MISSOULA, MT (FHA|USDA|VA) 1 $355,000 $355,000 $4,299 2.99%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 1 $305,000 $305,000 $11,126 2.88%
BELLINGHAM, WA (FHA|USDA|VA) 1 $295,000 $295,000 $5,834 2.00%
BOISE CITY, ID (FHA|USDA|VA) 1 $285,000 $285,000 $3,295 2.75%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $265,000 $265,000 $2,750 2.63%
Pullman, WA (FHA|USDA|VA) 1 $225,000 $225,000 $7,562 3.00%
FRESNO, CA (FHA|USDA|VA) 1 $205,000 $205,000 $2,199 2.50%
BILLINGS, MT (FHA|USDA|VA) 1 $165,000 $165,000 $7,557 3.75%
Sonora, CA (FHA|USDA|VA) 1 $155,000 $155,000 $3,839 3.50%
Wheatland Bank's top markets include Spokane, Wenatchee, Moses Lake, Kennewick, and Yakima among others.

Their top states include:
  • Washington (FHA|USDA|VA)
  • Idaho (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Montana (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 676 $180,220,000 $266,598 $4,173 2.77%
    FHA 117 $32,495,000 $277,735 $9,862 3.26%
    VA 47 $15,605,000 $332,021 $8,672 2.97%

    For 2021, Wheatland Bank's most frequently originated type of loan was Conventional, with 676 originations. Their 2nd most popular type was FHA, with 117 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 556 $151,610,000 $272,680 $6,285 2.74%
    Refi 146 $39,490,000 $270,479 $3,447 2.96%
    Cash Out Refi 128 $35,060,000 $273,906 $4,711 3.17%
    Other 6 $1,510,000 $251,667 $5,138 3.15%
    Home Improvement 4 $650,000 $162,500 $4,372 3.22%

    For 2021, Wheatland Bank's most frequently cited loan purpose was Home Purchase, with 556 originations. The 2nd most popular reason was Refi, with 146 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 757 $193,875,000 $256,110 $5,630 2.84%
    15 Year 52 $17,520,000 $336,923 $3,355 2.68%
    10 Year 13 $11,825,000 $909,615 $2,988 3.65%
    20 Year 10 $1,730,000 $173,000 $4,725 3.17%
    Other 6 $2,640,000 $440,000 $3,564 2.98%
    3 Year 1 $325,000 $325,000 $0 4.25%
    5 Year 1 $405,000 $405,000 $0 4.25%

    For 2021, Wheatland Bank's most frequently cited loan duration was 30 Year, with 757 originations. The 2nd most popular length was 15 Year, with 52 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 300 $80,910,000 $269,700
    $<1k 227 $39,465,000 $173,855
    $2k-3k 129 $36,895,000 $286,008
    $3k-4k 67 $18,915,000 $282,313
    $4k-5k 40 $12,340,000 $308,500
    $5k+ 20 $8,980,000 $449,000

    Wheatland Bank's average total fees were $5,630, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 300 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 394 $128,060,000 $325,025
    2.5-3% 275 $77,745,000 $282,709
    <2.5% 144 $14,930,000 $103,681
    4-5% 27 $7,585,000 $280,926

    During 2021, Wheatland Bank's average interest rate for loans was 2.84%, while their most frequently originated rate bucket for loans was 3-4%, with 394 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 462 $132,940,000 $287,749 $5,855 3.17%
    $100k-200k 162 $26,220,000 $161,852 $4,058 3.12%
    $100,000 or less 108 $2,370,000 $21,944 $3,089 0.66%
    $400k-600k 86 $40,180,000 $467,209 $5,450 3.13%
    $600k-1MM 16 $11,620,000 $726,250 $10,668 3.62%
    $1MM+ 6 $14,990,000 $2,498,333 $0 3.79%

    2021 saw Wheatland Bank place emphasis on $200k-400k loans with 462 originations, totaling $132,940,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 271 $62,655,000 $231,199 $5,618 2.77%
    $50k or less 162 $26,720,000 $164,938 $4,832 2.70%
    $75k-100k 156 $42,320,000 $271,282 $5,352 2.94%
    $100k-150k 141 $43,725,000 $310,106 $5,916 2.81%
    $150k-250k 64 $23,820,000 $372,188 $5,480 3.16%
    $250k+ 16 $5,880,000 $367,500 $5,903 3.20%

    Wheatland Bank lent most frequently to those with incomes in the $50k-75k range, with 271 originations. The second most popular income band? $50k or less, with 162 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 143 $35,305,000 $246,888 $5,239 2.84%
    20-30% 129 $31,945,000 $247,636 $4,315 2.96%
    44% 69 $16,975,000 $246,014 $6,104 2.80%
    42% 51 $12,995,000 $254,804 $5,683 2.78%
    43% 43 $9,575,000 $222,674 $6,335 2.69%
    38% 40 $9,680,000 $242,000 $5,132 3.10%
    36% 39 $9,655,000 $247,564 $5,404 2.54%
    41% 39 $10,765,000 $276,026 $5,339 2.84%
    <20% 38 $10,150,000 $267,105 $4,095 2.98%
    49% 34 $7,470,000 $219,706 $8,189 2.40%
    40% 31 $8,275,000 $266,935 $5,188 3.00%
    46% 30 $7,150,000 $238,333 $6,120 2.75%
    37% 30 $7,790,000 $259,667 $5,724 2.80%
    45% 27 $8,095,000 $299,815 $5,149 2.94%
    39% 25 $7,285,000 $291,400 $4,765 3.12%
    47% 21 $5,185,000 $246,905 $7,823 2.56%
    48% 19 $4,975,000 $261,842 $6,686 2.76%
    50-60% 13 $3,735,000 $287,308 $7,937 2.66%

    Wheatland Bank lent most frequently to those with DTI ratios of 30-36%, with 143 originations. The next most common DTI ratio? 20-30%, with 129 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 706 $177,520,000 $251,445 $5,374 2.84%
    Not provided 81 $22,495,000 $277,716 $5,529 2.86%
    Not applicable 12 $18,350,000 $1,529,167 $0 3.91%
    American Indian 17 $3,645,000 $214,412 $7,045 2.44%
    Asian 6 $2,930,000 $488,333 $6,069 3.38%
    Black 11 $2,255,000 $205,000 $6,205 2.66%
    Other Asian 4 $490,000 $122,500 $9,150 1.81%
    Japanese 1 $225,000 $225,000 $5,993 3.25%
    Native Hawaiian or Islander 1 $205,000 $205,000 $3,319 2.88%
    Asian Indian 1 $205,000 $205,000 $3,238 3.50%

    Approval Rates

    Total approvals of all applications
    90.50%

    Wheatland Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    69.05%

    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 840 $228,320,000 $271,810

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    840 $228,320,000 $271,810

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 32 $4,870,000 $152,188 $3,238 2.91%
    40-60% 91 $22,885,000 $251,484 $3,589 2.99%
    60-80% 239 $84,935,000 $355,377 $4,435 3.22%
    80-100% 366 $108,840,000 $297,377 $6,285 3.22%
    Over 100% 13 $4,595,000 $353,462 $13,568 2.99%
    Under 20% 95 $1,265,000 $13,316 $3,541 0.32%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Wheatland Bank 101 E 1st Ave Ritzville, WA 99169 Full Service B&M $35,230
    Wheatland Bank 1015 Central Avenue South Quincy, WA 98848 Full Service B&M $48,918
    Wheatland Bank 10801 N. Newport Highway Spokane, WA 99218 Full Service B&M $28,752
    Wheatland Bank 1115 N Miller Street Wenatchee, WA 98801 Full Service B&M $22,217
    Wheatland Bank 134 East Woodin Ave Chelan, WA 98816 Full Service B&M $11,380
    Wheatland Bank 1442 S. Pioneer Way Moses Lake, WA 98837 Full Service B&M $76,333
    Wheatland Bank 14732 E Indiana Ave Spokane, WA 99216 Full Service B&M $30,021
    Wheatland Bank 201 E Yakima Ave Suite 100 Yakima, WA 98901 Full Service B&M $40,226
    Wheatland Bank 205 S Main St, Suite 1 Ellensburg, WA 98926 Full Service B&M $16,236
    Wheatland Bank 22 East First Avenue Odessa, WA 99159 Full Service B&M $27,928
    Wheatland Bank 222 N. Wall Street, Suite 100 Spokane, WA 99201 Full Service B&M $71,899
    Wheatland Bank 600 Morgan Street Davenport, WA 99122 Full Service B&M $60,334
    Wheatland Bank 8 S.E. Main Street Wilbur, WA 99185 Full Service B&M $45,344
    Wheatland Bank 9715 S Sandifur Parkway Pasco, WA 99301 Full Service B&M $76,238

    For 2021, Wheatland Bank had 14 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $22,091
    Net interest income $21,843
    Total noninterest income $10,954
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $523
    Trading account gains and fees $0
    Additional Noninterest Income $10,431
    Pre-tax net operating income $10,555
    Securities gains (or losses, -) $0
    Income before extraordinary items $8,695
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $8,695
    Minority interest net income $0
    Net income $8,695
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $8,695

    Wheatland Bank's gross interest income from loans was $22,091,000.
    Wheatland Bank's net interest income from loans was $21,843,000.
    Wheatland Bank's fee based income from loans was $523,000.
    Wheatland Bank's net income from loans was $8,695,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $248
    Provision for credit losses $0
    Total noninterest expense $22,242
    Salaries and employee benefits $14,757
    Premises and equipment expense $1,998
    Additional noninterest expense $5,487
    Applicable income taxes $1,860
    Net charge-offs $213
    Cash dividends $580

    Wheatland Bank's interest expense for loans was $248,000.
    Wheatland Bank's payroll and benefits expense were $14,757,000.
    Wheatland Bank's property, plant and equipment expenses $1,998,000.

    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 0.1%
    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 $645,594
    Deposits held in domestic offices $645,594
    Deposits by Individuals, partnerships, and corporations $642,547
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $3,047
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $352,862
    Demand deposits $325,524
    Nontransaction accounts $292,732
    Money market deposit accounts (MMDAs) $192,161
    Other savings deposits (excluding MMDAs) $78,399
    Total time deposits $22,172
    Total time and savings deposits $320,070
    Noninterest-bearing deposits $325,524
    Interest-bearing deposits $320,069
    Retail deposits $635,647
    IRAs and Keogh plan accounts $2,958
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $713,419
    Cash & Balances due from depository institutions $53,168
    Interest-bearing balances $44,583
    Total securities $241,567
    Federal funds sold & reverse repurchase $0
    Net loans and leases $381,340
    Loan and leases loss allowance $4,218
    Trading account assets $0
    Bank premises and fixed assets $17,259
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $20,085

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $713,419
    Total Liabilities $651,113
    Total deposits $645,594
    Interest-bearing deposits $320,069
    Deposits held in domestic offices $645,594
    % insured (estimated) $67
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $5,519

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $381,340
    Loan and leases loss allowance $4,218
    Total loans and leases (domestic) $385,558
    All real estate loans $280,123
    Real estate loans in domestic offices $280,123
    Construction and development loans $20,299
    Residential 1-4 family construction $7,697
    Other construction, all land development and other land $12,602
    Loans secured by nonfarm nonresidential properties $131,488
    Nonfarm nonresidential secured by owner-occupied properties $41,358
    Commercial real estate & other non-farm, non-residential $90,130
    Multifamily residential real estate $25,261
    1-4 family residential loans $26,252
    Farmland loans $76,823
    Loans held in foreign offices $0
    Farm loans $81,790
    Commercial and industrial loans $22,172
    To non-U.S. addressees $0
    Loans to individuals $1,473
    Credit card loans $1,114
    Related Plans $177
    Consumer Auto Loans $74
    Other loans to individuals $108
    All other loans & leases $0
    Loans to foreign governments and official institutions $0
    Other loans $0
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Wheatland Bank had $381,340,000 of loans outstanding in 2021. $280,123,000 of loans were in real estate loans. $20,299,000 of loans were in development loans. $25,261,000 of loans were in multifamily mortgage loans. $26,252,000 of loans were in 1-4 family mortgage loans. $81,790,000 of loans were in farm loans. $1,114,000 of loans were in credit card loans. $74,000 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 90 $27,857 $309,522
    Nonfarm, nonresidential loans - <$100k 3 $205 $68,333
    Nonfarm, nonresidential loans - $100-250k 32 $4,205 $131,406
    Nonfarm, nonresidential loans - $250k-1MM 55 $23,447 $426,309
    Commercial & Industrial, US addressed loans - <$1MM 129 $10,750 $83,333
    Commercial & Industrial, US addressed loans - <$100k 70 $1,650 $23,571
    Commercial & Industrial, US addressed loans - $100-250k 22 $2,621 $119,136
    Commercial & Industrial, US addressed loans - $250k-1MM 37 $6,479 $175,108
    Farmland loans - <$1MM 103 $19,778 $192,019
    Farmland loans - <$100k 18 $919 $51,056
    Farmland loans - $100-250k 35 $4,340 $124,000
    Farmland loans - $250k-1MM 50 $14,519 $290,380
    Agriculture operations loans - <$1MM 212 $12,732 $60,057
    Agriculture operations loans - <$100k 79 $1,460 $18,481
    Agriculture operations loans - $100-250k 74 $4,318 $58,351
    Agriculture operations loans - $250k-1MM 59 $6,954 $117,864