Kitsap Credit Union Mortgage Rates, Fees & Info

Bremerton, WA

LEI: 549300YEI60WAHWQ3110

Tax ID: 91-0333066

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • 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

    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 Ellensburg among others. We have data for 8 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 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.

    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% 12/16/24
    30 Year Conventional Purchase 6.50% 12/16/24
    30 Year Conventional Refi 6.64% 12/16/24
    30 Year Cash-out Refi 6.81% 12/16/24
    30 Year VA Purchase 6.72% 12/16/24
    30 Year USDA Purchase 6.20% 12/16/24
    15 Year Conventional Purchase 5.98% 12/16/24
    15 Year Conventional Refi 6.34% 12/16/24
    15 Year Cash-out Refi 6.34% 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.

    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

    590

    Origination Dollar Volume (All Markets)

    $49,410,000

    Awards

    KITSAP Credit Union 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
    BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 492 $42,350,000 $86,077 $2,512 4.84%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 47 $3,835,000 $81,596 $2,506 4.89%
    Shelton, WA (FHA|USDA|VA) 27 $1,455,000 $53,889 $1,281 4.82%
    Outside of Metro Areas 17 $1,185,000 $69,706 $2,217 4.80%
    Port Angeles, WA (FHA|USDA|VA) 4 $360,000 $90,000 $925 5.04%
    Ellensburg, WA (FHA|USDA|VA) 1 $155,000 $155,000 $0 5.00%
    WALLA WALLA, WA (FHA|USDA|VA) 1 $45,000 $45,000 $0 5.57%
    OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 1 $25,000 $25,000 $0 5.00%
    Kitsap Credit Union's top markets include Bremerton, Seattle, Shelton, Port Angeles, and Ellensburg among others.

    Their top states include:
  • Washington (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: 208
    Sno Falls Credit Union
    Similarity Rank: 309
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 614
    SALAL
    Similarity Rank: 1515
    NorthWest Plus Credit Union
    Similarity Rank: 1736
    MORTGAGE LENDING GROUP LLC
    Similarity Rank: 1870
    SOUND
    Similarity Rank: 1892
    U S WIDE FINANCIAL LLC
    Similarity Rank: 2132
    Silicon Valley Bank
    Similarity Rank: 2379
    Shea Mortgage Inc.
    Similarity Rank: 2616

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 329 $31,355,000 $95,304 $2,359 4.82%
    HELOC 261 $18,055,000 $69,176 n/a 4.88%

    For 2018, Kitsap Credit Union's most frequently originated type of loan was Conventional, with 329 originations. Their 2nd most popular type was HELOC, with 261 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 258 $14,400,000 $55,814 $792 4.90%
    Other 178 $10,350,000 $58,146 $764 4.93%
    Refi 95 $8,855,000 $93,211 $2,799 4.62%
    Home Purchase 36 $11,790,000 $327,500 $3,436 4.84%
    Cash Out Refi 23 $4,015,000 $174,565 $4,342 4.57%

    For 2018, Kitsap Credit Union's most frequently cited loan purpose was Home Improvement, with 258 originations. The 2nd most popular reason was Other, with 178 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 352 $25,360,000 $72,045 $975 4.69%
    15 Year 201 $11,035,000 $54,900 $1,493 5.10%
    30 Year 26 $5,390,000 $207,308 $4,357 4.70%
    20 Year 6 $1,010,000 $168,333 $4,118 4.63%
    10 Year 5 $6,615,000 $1,323,000 $229 7.00%

    For 2018, Kitsap Credit Union's most frequently cited loan duration was Other, with 352 originations. The 2nd most popular length was 15 Year, with 201 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 52 $3,910,000 $75,192
    $2k-3k 16 $2,340,000 $146,250
    $1k-2k 9 $1,405,000 $156,111
    $3k-4k 7 $1,535,000 $219,286
    $4k-5k 4 $1,280,000 $320,000
    $5k+ 1 $465,000 $465,000

    Kitsap Credit Union's average total fees were $4,357, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 52 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 384 $30,770,000 $80,130
    5-6% 175 $15,915,000 $90,943
    3-4% 27 $2,615,000 $96,852
    7-8% 4 $110,000 $27,500

    During 2018, Kitsap Credit Union's average interest rate for loans was 4.70%, while their most frequently originated rate bucket for loans was 4-5%, with 384 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 455 $20,745,000 $45,593 $906 4.89%
    $100k-200k 99 $13,375,000 $135,101 $3,142 4.71%
    $200k-400k 34 $8,320,000 $244,706 $4,760 4.67%
    $1MM+ 1 $6,505,000 $6,505,000 $0 6.00%
    $400k-600k 1 $465,000 $465,000 $7,954 3.38%

    2018 saw Kitsap Credit Union place emphasis on $100,000 or less loans with 455 originations, totaling $20,745,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 153 $10,935,000 $71,471 $1,800 4.93%
    $50k-75k 144 $9,370,000 $65,069 $2,344 4.82%
    $75k-100k 136 $10,410,000 $76,544 $3,600 4.83%
    $50k or less 78 $3,960,000 $50,769 $2,009 4.72%
    $150k-250k 59 $5,575,000 $94,492 $1,147 4.86%
    $250k+ 12 $2,160,000 $180,000 $7,954 4.78%

    Kitsap Credit Union lent most frequently to those with incomes in the $100k-150k range, with 153 originations. The second most popular income band? $50k-75k, with 144 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 145 $10,115,000 $69,759 $3,041 4.77%
    30-36% 105 $7,655,000 $72,905 $2,771 4.89%
    <20% 63 $3,785,000 $60,079 $1,526 4.60%
    37% 36 $2,230,000 $61,944 $2,245 4.95%
    43% 23 $2,285,000 $99,348 $3,172 4.95%
    38% 23 $1,775,000 $77,174 $2,554 4.80%
    50-60% 22 $2,190,000 $99,545 $945 4.79%
    36% 22 $1,790,000 $81,364 $3,277 4.92%
    42% 22 $1,470,000 $66,818 $775 4.93%
    39% 19 $1,275,000 $67,105 $3,588 4.97%
    41% 19 $1,645,000 $86,579 $2,888 4.70%
    45% 18 $1,390,000 $77,222 $1,096 5.18%
    46% 17 $1,155,000 $67,941 $3,421 4.96%
    40% 14 $780,000 $55,714 $601 5.07%
    44% 14 $1,030,000 $73,571 $781 4.80%
    48% 11 $1,105,000 $100,455 $4,834 4.93%
    47% 9 $525,000 $58,333 $500 5.24%
    49% 7 $705,000 $100,714 $7,098 4.72%

    Kitsap Credit Union lent most frequently to those with DTI ratios of 20-30%, with 145 originations. The next most common DTI ratio? 30-36%, with 105 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 474 $35,250,000 $74,367 $2,364 4.83%
    Not applicable 1 $6,505,000 $6,505,000 $0 6.00%
    Not provided 79 $5,065,000 $64,114 $2,450 4.91%
    Asian 14 $1,100,000 $78,571 $2,265 4.83%
    Native Hawaiian or Islander 6 $630,000 $105,000 $1,907 5.09%
    Black 10 $570,000 $57,000 $0 4.84%
    American Indian 4 $190,000 $47,500 $0 4.99%
    Other Pacific Islander 1 $55,000 $55,000 $0 5.13%
    Filipino 1 $45,000 $45,000 $0 5.13%

    Approval Rates

    Total approvals of all applications
    76.10%

    Kitsap Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    72.71%

    Kitsap Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 590 $49,410,000 $83,746

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $6,505,000 $6,505,000
    Single Family (1-4 Units):Manufactured 39 $2,195,000 $56,282
    Single Family (1-4 Units):Site-Built 550 $40,710,000 $74,018

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 125 $11,785,000 $94,280 $1,252 4.79%
    40-60% 43 $13,095,000 $304,535 $3,440 4.58%
    60-80% 28 $5,680,000 $202,857 $4,400 4.61%
    80-100% 8 $1,940,000 $242,500 $4,469 4.66%
    Over 100% 1 $255,000 $255,000 $775 4.13%
    Under 20% 385 $16,655,000 $43,260 $742 4.92%