Kitsap Credit Union Mortgage Rates, Fees & Info
Bremerton, WALEI: 549300YEI60WAHWQ3110
Tax ID: 91-0333066
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Mortgage Data
Review & Overview
Kitsap Credit Union is a smaller credit union specializing in Home Improvement and Home Purchase loans. Kitsap Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Bremerton, Seattle, Shelton, Kennewick, and Aberdeen among others. We have data for 11 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.68% | 4/18/24 |
| 30 Year Conventional Purchase | 6.50% | 4/18/24 |
| 30 Year Conventional Refi | 6.64% | 4/18/24 |
| 30 Year Cash-out Refi | 6.81% | 4/18/24 |
| 30 Year VA Purchase | 6.72% | 4/18/24 |
| 30 Year USDA Purchase | 6.20% | 4/18/24 |
| 15 Year Conventional Purchase | 5.98% | 4/18/24 |
| 15 Year Conventional Refi | 6.34% | 4/18/24 |
| 15 Year Cash-out Refi | 6.34% | 4/18/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
643Origination Dollar Volume (All Markets)
$62,535,000Awards
KITSAP Credit Union - 2019
KITSAP Credit Union is a 2019 , due to their low .
For 2019, less than of lenders were eligible for this award.
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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) | 497 | $50,425,000 | $101,459 | $2,454 | 5.22% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 65 | $4,655,000 | $71,615 | $1,957 | 5.35% |
| Outside of Metro Areas | 30 | $3,400,000 | $113,333 | $3,279 | 4.94% |
| Shelton, WA (FHA|USDA|VA) | 39 | $2,725,000 | $69,872 | $2,318 | 5.18% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $3,167 | 3.13% |
| Aberdeen, WA (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $636 | 5.60% |
| Port Angeles, WA (FHA|USDA|VA) | 4 | $250,000 | $62,500 | $900 | 5.52% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $4,532 | 4.85% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,385 | 4.63% |
| Centralia, WA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 5.57% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $1,318 | 4.57% |
Their top states include:
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 335 | $39,525,000 | $117,985 | $2,443 | 5.04% |
| HELOC | 308 | $23,010,000 | $74,708 | n/a | 5.41% |
For 2019, Kitsap Credit Union's most frequently originated type of loan was Conventional, with 335 originations. Their 2nd most popular type was HELOC, with 308 originations.
Loan Reason
For 2019, Kitsap Credit Union's most frequently cited loan purpose was Home Improvement, with 267 originations. The 2nd most popular reason was Other, with 193 originations.
Loan Duration/Length
For 2019, Kitsap Credit Union's most frequently cited loan duration was Other, with 392 originations. The 2nd most popular length was 15 Year, with 182 originations.
Origination Fees/Closing Costs
Kitsap Credit Union's average total fees were $3,392, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 274 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 427 | $36,505,000 | $85,492 |
| 4-5% | 144 | $15,310,000 | $106,319 |
| 3-4% | 60 | $9,900,000 | $165,000 |
| 7-8% | 10 | $430,000 | $43,000 |
| 2.5-3% | 2 | $390,000 | $195,000 |
During 2019, Kitsap Credit Union's average interest rate for loans was 4.24%, while their most frequently originated rate bucket for loans was 5-6%, with 427 originations.
Loan Sizing
2019 saw Kitsap Credit Union place emphasis on $100,000 or less loans with 468 originations, totaling $22,380,000 in origination value.
Applicant Income
Kitsap Credit Union lent most frequently to those with incomes in the $50k-75k range, with 179 originations. The second most popular income band? $100k-150k, with 167 originations.
Applicant Debt to Income Ratio
Kitsap Credit Union lent most frequently to those with DTI ratios of 20-30%, with 157 originations. The next most common DTI ratio? 30-36%, with 127 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications78.01%
Kitsap Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination64.70%
Kitsap Credit Union 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 | 643 | $62,535,000 | $97,255 |