Avista Corporation Credit Union Mortgage Rates, Fees & Info
Spokane, WALEI: Q0IK63NITJD6RJ47SW96
Tax ID: 91-6033165
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Mortgage Data
Review & Overview
Avista Corporation Credit Union is a smaller credit union specializing in Home Improvement, Cash Out Refi, and Home Purchase loans. Avista Corporation Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Spokane, Seattle, Kennewick, Sandpoint, and Lewiston among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Avista Corporation 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. 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 4/21/24 |
| 30 Year Conventional Refi | 6.27% | 4/21/24 |
| 30 Year Cash-out Refi | 6.27% | 4/21/24 |
| 15 Year Conventional Refi | 5.68% | 4/21/24 |
| 15 Year Cash-out Refi | 5.68% | 4/21/24 |
| 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. | ||
Avista Corporation 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
32Origination Dollar Volume (All Markets)
$4,630,000Relative Rate
Avista Corporation Credit Union's average 30 year fixed mortgage rate was
6.47%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.01%.
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) | 22 | $2,510,000 | $114,091 | $0 | 7.77% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 2 | $810,000 | $405,000 | $0 | 6.00% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $0 | 4.88% |
| Sandpoint, ID (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $0 | 7.13% |
| Outside of Metro Areas | 2 | $250,000 | $125,000 | $0 | 6.88% |
| LEWISTON, ID-WA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 7.00% |
| Outside of Metro Areas | 1 | $105,000 | $105,000 | $0 | 8.50% |
| Moses Lake, WA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 8.75% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 19 | $1,605,000 | $84,474 | n/a | 8.51% |
| Conventional | 13 | $3,025,000 | $232,692 | $0 | 6.02% |
For 2023, Avista Corporation Credit Union's most frequently originated type of loan was HELOC, with 19 originations. Their 2nd most popular type was Conventional, with 13 originations.
Loan Reason
For 2023, Avista Corporation Credit Union's most frequently cited loan purpose was Home Improvement, with 16 originations. The 2nd most popular reason was Cash Out Refi, with 10 originations.
Loan Duration/Length
For 2023, Avista Corporation Credit Union's most frequently cited loan duration was 20 Year, with 19 originations. The 2nd most popular length was Other, with 6 originations.
Interest Rates
During 2023, Avista Corporation Credit Union's average interest rate for loans was 6.47%, while their most frequently originated rate bucket for loans was Over 8%, with 17 originations.
Loan Sizing
2023 saw Avista Corporation Credit Union place emphasis on $100,000 or less loans with 18 originations, totaling $1,180,000 in origination value.
Applicant Income
Avista Corporation Credit Union lent most frequently to those with incomes in the $150k-250k range, with 12 originations. The second most popular income band? $100k-150k, with 8 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 32 | $4,630,000 | $144,688 | $0 | 7.50% |
Avista Corporation Credit Union lent most frequently to those with DTI ratios of Exempt%, with 32 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications88.00%
Avista Corporation Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination62.50%
Avista Corporation 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 |
|---|---|---|---|
| Exempt | 32 | $4,630,000 | $144,688 |