Kitsap Credit Union Mortgage Rates, Fees & Info

Bremerton, WA

LEI: 549300YEI60WAHWQ3110

Tax ID: 91-0333066

5 stars - Updated: 12/4/24 - out of 5 stars, based on 28 reviews

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

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Mortgage Data

Review & Overview

Kitsap Credit Union is a smaller credit union specializing in Home Improvement, Other, and Home Purchase loans. Kitsap Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Bremerton, Seattle, Shelton, Port Angeles, and Centralia among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)

Kitsap Credit Union 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. Kitsap Credit Union 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 relatively high 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
Home Equity Line of Credit (HELOC) 6.68% 12/4/24
30 Year Conventional Purchase 6.50% 12/4/24
30 Year Conventional Refi 6.64% 12/4/24
30 Year Cash-out Refi 6.81% 12/4/24
30 Year VA Purchase 6.72% 12/4/24
30 Year USDA Purchase 6.20% 12/4/24
15 Year Conventional Purchase 5.98% 12/4/24
15 Year Conventional Refi 6.34% 12/4/24
15 Year Cash-out Refi 6.34% 12/4/24
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.

Kitsap Credit Union Mortgage Calculator






Your Estimates

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

This is not an official calculator from Kitsap Credit Union. 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

784

Origination Dollar Volume (All Markets)

$80,350,000

Awards

KITSAP Credit Union 30 Year Conventional Loans bronze KITSAP Credit Union 30 Year Conventional Loans silver KITSAP Credit Union 30 Year Conventional Loans silver
Show all (3) awards

Relative Rate

Kitsap Credit Union's average 30 year fixed mortgage rate was 6.23%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.25%.

Relative Fees (Closing Costs)

Kitsap Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $6,847.

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 $9,089.

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
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 540 $54,440,000 $100,815 $457 7.42%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 123 $12,855,000 $104,512 $846 7.45%
Outside of Metro Areas 46 $4,970,000 $108,043 $1,540 7.33%
Shelton, WA (FHA|USDA|VA) 49 $4,645,000 $94,796 $1,940 7.30%
Port Angeles, WA (FHA|USDA|VA) 7 $1,415,000 $202,143 $6,390 6.96%
Centralia, WA (FHA|USDA|VA) 4 $620,000 $155,000 $2,071 6.97%
Fallon, NV (FHA|USDA|VA) 1 $265,000 $265,000 $4,459 6.63%
WENATCHEE, WA (FHA|USDA|VA) 1 $255,000 $255,000 $0 7.25%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 5 $195,000 $39,000 $0 7.00%
Marietta, OH (FHA|USDA|VA) 1 $185,000 $185,000 $4,987 6.50%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 1 $135,000 $135,000 $0 6.50%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $115,000 $115,000 $0 8.75%
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 1 $75,000 $75,000 $0 7.50%
YAKIMA, WA (FHA|USDA|VA) 1 $75,000 $75,000 $0 7.25%
BELLINGHAM, WA (FHA|USDA|VA) 1 $35,000 $35,000 $0 8.50%
Oak Harbor, WA (FHA|USDA|VA) 1 $35,000 $35,000 $0 7.25%
Aberdeen, WA (FHA|USDA|VA) 1 $35,000 $35,000 $0 7.25%
Kitsap Credit Union's top markets include Bremerton, Seattle, Shelton, Port Angeles, and Centralia among others.

Their top states include:
  • Washington (FHA|USDA|VA)
  • Nevada (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)
  • Similar Lenders

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

    KITSAP Credit Union
    Similarity Rank: 238
    LO, INC.
    Similarity Rank: 492
    CU HOME MORTGAGE SOLUTIONS, LLC
    Similarity Rank: 693
    MORTGAGE LENDING GROUP LLC
    Similarity Rank: 1408
    America's Credit Union
    Similarity Rank: 1610
    South Pacific Financial Corporation
    Similarity Rank: 1716
    East West Bank
    Similarity Rank: 1739
    SOUND
    Similarity Rank: 1782

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 493 $51,915,000 $105,304 $655 7.07%
    HELOC 288 $27,470,000 $95,382 n/a 7.98%
    VA 3 $965,000 $321,667 $15,622 5.96%

    For 2023, Kitsap Credit Union's most frequently originated type of loan was Conventional, with 493 originations. Their 2nd most popular type was HELOC, with 288 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 370 $31,530,000 $85,216 $24 7.49%
    Other 242 $17,570,000 $72,603 $21 7.46%
    Refi 105 $12,595,000 $119,952 $106 7.40%
    Home Purchase 67 $18,655,000 $278,433 $5,373 6.71%

    For 2023, Kitsap Credit Union's most frequently cited loan purpose was Home Improvement, with 370 originations. The 2nd most popular reason was Other, with 242 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 371 $37,055,000 $99,879 $0 7.65%
    15 Year 363 $27,585,000 $75,992 $18 7.25%
    30 Year 41 $15,155,000 $369,634 $6,847 6.23%
    10 Year 9 $555,000 $61,667 $400 8.75%

    For 2023, Kitsap Credit Union's most frequently cited loan duration was Other, with 371 originations. The 2nd most popular length was 15 Year, with 363 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 314 $25,140,000 $80,064
    $1k-2k 12 $3,610,000 $300,833
    $2k-3k 8 $3,650,000 $456,250
    $5k+ 6 $2,670,000 $445,000
    $3k-4k 1 $615,000 $615,000

    Kitsap Credit Union's average total fees were $6,847, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 314 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 511 $44,495,000 $87,074
    Over 8% 135 $11,755,000 $87,074
    6-7% 115 $15,665,000 $136,217
    5-6% 23 $8,435,000 $366,739

    During 2023, Kitsap Credit Union's average interest rate for loans was 6.23%, while their most frequently originated rate bucket for loans was 7-8%, with 511 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 514 $26,870,000 $52,276 $31 7.46%
    $100k-200k 173 $22,605,000 $130,665 $146 7.46%
    $200k-400k 79 $21,535,000 $272,595 $3,874 7.12%
    $400k-600k 13 $6,085,000 $468,077 $6,764 6.36%
    $600k-1MM 5 $3,255,000 $651,000 $12,011 6.75%

    2023 saw Kitsap Credit Union place emphasis on $100,000 or less loans with 514 originations, totaling $26,870,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 243 $26,045,000 $107,181 $889 7.46%
    $150k-250k 162 $20,660,000 $127,531 $1,072 7.47%
    $75k-100k 154 $13,680,000 $88,831 $838 7.38%
    $50k-75k 125 $8,425,000 $67,400 $514 7.35%
    $50k or less 51 $2,885,000 $56,569 $467 7.08%
    $250k+ 40 $7,470,000 $186,750 $177 7.56%

    Kitsap Credit Union lent most frequently to those with incomes in the $100k-150k range, with 243 originations. The second most popular income band? $150k-250k, with 162 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 154 $12,960,000 $84,156 $221 7.43%
    30-36% 136 $14,050,000 $103,309 $786 7.41%
    50-60% 75 $7,865,000 $104,867 $765 7.58%
    <20% 54 $3,840,000 $71,111 $175 7.14%
    43% 39 $4,205,000 $107,821 $605 7.36%
    39% 33 $3,845,000 $116,515 $29 7.33%
    44% 29 $3,815,000 $131,552 $2,440 7.34%
    41% 29 $3,925,000 $135,345 $1,308 7.45%
    37% 28 $2,370,000 $84,643 $0 7.38%
    49% 27 $3,495,000 $129,444 $1,743 7.45%
    46% 26 $3,110,000 $119,615 $522 7.34%
    47% 25 $3,515,000 $140,600 $3,146 7.43%
    45% 24 $2,460,000 $102,500 $1,298 7.40%
    36% 23 $1,605,000 $69,783 $0 7.65%
    38% 22 $2,810,000 $127,727 $4,203 7.22%
    42% 21 $1,695,000 $80,714 $415 7.22%
    48% 21 $2,395,000 $114,048 $718 7.42%
    40% 16 $1,580,000 $98,750 $935 7.54%
    >60% 1 $105,000 $105,000 $0 8.25%

    Kitsap Credit Union lent most frequently to those with DTI ratios of 20-30%, with 154 originations. The next most common DTI ratio? 30-36%, with 136 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 622 $62,010,000 $99,695 $838 7.40%
    Not provided 93 $10,875,000 $116,935 $842 7.47%
    Asian 34 $3,800,000 $111,765 $123 7.34%
    American Indian 14 $1,330,000 $95,000 $0 7.64%
    Black 10 $930,000 $93,000 $1,122 7.16%
    Not applicable 1 $705,000 $705,000 $0 7.50%
    Native Hawaiian or Islander 7 $395,000 $56,429 $0 7.25%
    Other Asian 1 $155,000 $155,000 $0 7.25%
    Guamanian 1 $105,000 $105,000 $0 7.25%
    Other Pacific Islander 1 $45,000 $45,000 $0 7.25%

    Approval Rates

    Total approvals of all applications
    73.38%

    Kitsap Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    76.28%

    Kitsap Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 784 $80,350,000 $102,487

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    784 $80,350,000 $102,487

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 120 $19,370,000 $161,417 $123 7.46%
    40-60% 30 $7,210,000 $240,333 $1,591 7.03%
    60-80% 9 $2,745,000 $305,000 $3,061 6.61%
    80-100% 28 $11,560,000 $412,857 $6,827 6.24%
    Over 100% 1 $365,000 $365,000 $30,923 5.25%
    Under 20% 596 $39,100,000 $65,604 $28 7.48%