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1st Security Bank of Washington
Bank|Mountlake Terrace, WA|Multi-Region
Loans Originated
1,021
Applications
1,367
Volume
$559 million
Offers loans directly to consumers
Overall Pricing
Acceptable
Overall Pull Through
Strong
Safe Rate Awards⭐FHA Superstar
Pricing and Pullthrough Overview
Average Rate Spread
+0.190%
The average of the lender's APR minus the market's average APR (APOR)
Average Net Fees
$4,255
Borrower paid Origination Charges - Lender Credits
Pullthrough Rate
74.7%
Percentage of applications that result in closed loans
Safe Rate's Summary
What They Do Well
- Strong pull through performance
- Particularly strong in Conventional and FHA and VA and Jumbo loans
Things to Think About
- Pricing may be below industry average
- Higher than average fees ($4,255)
Report Card
1st Security Bank of Washington performance at a glance
| Category | Rating | Grade | Details |
|---|---|---|---|
Pricing Rate competitiveness | Acceptable | Near industry average | |
Pull Through Closing Strength | Strong | Highly Competitive | |
Products Loan Type Specialists | Specialization score by loan product | ||
Conventional | Strong | Highly Competitive | |
FHA | Strong | Highly Competitive | |
VA | Strong | Highly Competitive | |
Jumbo | Strong | Highly Competitive | |
Purpose Reason specialization | Specialization score by loan purpose | ||
Purchase | Strong | Highly Competitive | |
Refinance | Sound | Industry Standard | |
Places Geographic coverage | Strong | Multi-Regional · 9 metro areas · 6 states |
Rating Scale:
Exceptional (80-100)
Strong (60-79)
Sound (40-59)
Acceptable (20-39)
Mediocre (0-19)
Typical Borrower Profile
Average Loan Amount
$548,036
Average Borrower Income
$202,346
Average Property Value
$751,621
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | Sound | Strong | Acceptable | Strong | 703 | 68.9% | +0.214% | $4,250 |
FHA Loans | Strong | Strong | Sound | Exceptional | 174 | 17.0% | +0.250% | $4,486 |
VA Loans | Sound | Strong | Acceptable | Strong | 56 | 5.5% | -0.433% | $4,188 |
Jumbo Loans | Acceptable | Strong | Mediocre | Sound | 86 | 8.4% | +0.209% | $3,784 |
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | Sound | Strong | Acceptable | Strong | 945 | 92.6% | +0.195% | $4,236 |
Refinance | Sound | Sound | Acceptable | Sound | 76 | 7.4% | +0.147% | $4,428 |
Geographic Coverage
Metro Areas
8
States Served
6
We count Washington DC as a state
Avg Place Specialization
Strong
States with Loan Originations
AZCAIDNVORWA
Top Metro Areas by Place Specialization Score
1
Kennewick, WAMSA
Volume: 245Mix: 24.00%
Place Specialization
Exceptional
2
Seattle, WAMSA
Volume: 221Mix: 21.65%
Place Specialization
Exceptional
3
Tacoma, WAMSA
Volume: 98Mix: 9.60%
Place Specialization
Strong
4
Everett, WA, WAMSA
Volume: 98Mix: 9.60%
Place Specialization
Strong
5
Bremerton, WAMSA
Volume: 44Mix: 4.31%
Place Specialization
Strong
6
Olympia, WAMSA
Volume: 27Mix: 2.64%
Place Specialization
Sound
7
Portland, OR-WAMSA
Volume: 50Mix: 4.90%
Place Specialization
Sound
8
Yakima, WA, WAMSA
Volume: 25Mix: 2.45%
Place Specialization
Sound
Top States by Place Specialization Score
1
WAState
Volume: 935Mix: 91.58%
Place Specialization
Exceptional
2
ORState
Volume: 45Mix: 4.41%
Place Specialization
Sound
3
IDState
Volume: 13Mix: 1.27%
Place Specialization
Sound
4
AZState
Volume: 10Mix: 0.98%
Place Specialization
Acceptable
5
CAState
Volume: 10Mix: 0.98%
Place Specialization
Acceptable
How We Rank Lenders
Our rankings use geometric mean scoring across equally-weighted categories. This rewards lenders who perform consistently well across all metrics, not just excel in one area.
Our Point System (Max 30 Points)
10
Pricing
Rate and fee competitiveness (33%)
10
Pull Through
Reliability in closing loans (33%)
10
Product
Specialization in the loan type (33%)
💎
Champion(80%+ = 24-30 points)
⭐
Superstar(60-79% = 18-23 points)
Data Integrity & Updates
Data is updated quarterly based on the latest HMDA filings and proprietary SafeRate analysis. All metrics are calculated using standardized methodologies to ensure fair comparison across lenders.
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