Red Canoe Credit Union Mortgage Rates, Fees & Info

Longview, WA

LEI: 54930007KK7ZS3IJVC25

Tax ID: 91-0565155

1 stars - Updated: 4/5/25 - out of 5 stars, based on 22 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Red Canoe Credit Union is a smaller credit union specializing in Refi and Home Improvement loans. Red Canoe Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Longview, Seattle, Portland, Centralia, and Shelton among others. We have data for 23 markets. (Some data included below & more in-depth data is available with an active subscription.)

Red Canoe 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. Red Canoe Credit Union is typically a high 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 7.37% 4/5/25
30 Year Conventional Purchase 6.75% 4/5/25
30 Year Conventional Refi 6.76% 4/5/25
30 Year Cash-out Refi 6.78% 4/5/25
15 Year Conventional Purchase 6.29% 4/5/25
15 Year Conventional Refi 11.59% 4/5/25
15 Year Cash-out Refi 11.59% 4/5/25
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.

Red Canoe Credit Union Mortgage Calculator






Your Estimates

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

This is not an official calculator from Red Canoe 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

477

Origination Dollar Volume (All Markets)

$67,635,000

Awards

RED CANOE CREDIT UNION 30 Year Conventional Loans gold RED CANOE CREDIT UNION 30 Year Conventional Loans gold
Show all (2) awards

Relative Rate

Red Canoe Credit Union's average 30 year fixed mortgage rate was 6.05%.

The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

This yields a difference of -0.5%.

Relative Fees (Closing Costs)

Red Canoe Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $22,379.

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 $8,356.

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
LONGVIEW, WA (FHA|USDA|VA) 215 $22,745,000 $105,791 $1,375 8.05%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 104 $15,130,000 $145,481 $2,791 7.88%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 46 $9,080,000 $197,391 $3,976 7.87%
Centralia, WA (FHA|USDA|VA) 32 $3,440,000 $107,500 $686 8.01%
Outside of Metro Areas 18 $3,060,000 $170,000 $6,107 7.47%
Shelton, WA (FHA|USDA|VA) 4 $1,630,000 $407,500 $31,420 6.66%
BELLINGHAM, WA (FHA|USDA|VA) 4 $1,480,000 $370,000 $43,935 7.69%
Jackson, WY-ID (FHA|USDA|VA) 1 $1,255,000 $1,255,000 $59,826 5.50%
BEND, OR (FHA|USDA|VA) 1 $1,185,000 $1,185,000 $54,240 5.50%
CORVALLIS, OR (FHA|USDA|VA) 6 $1,160,000 $193,333 $997 7.79%
ALBANY-LEBANON, OR (FHA|USDA|VA) 17 $1,135,000 $66,765 $511 8.66%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 4 $1,070,000 $267,500 $18,914 7.21%
Ellensburg, WA (FHA|USDA|VA) 3 $985,000 $328,333 $398 7.66%
SALEM, OR (FHA|USDA|VA) 5 $765,000 $153,000 $1,366 8.17%
Newport, OR (FHA|USDA|VA) 3 $665,000 $221,667 $7,560 7.50%
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 2 $660,000 $330,000 $2,768 7.12%
MEDFORD, OR (FHA|USDA|VA) 1 $575,000 $575,000 $39,281 4.88%
Klamath Falls, OR (FHA|USDA|VA) 2 $520,000 $260,000 $19,399 7.63%
GRANTS PASS, OR (FHA|USDA|VA) 1 $375,000 $375,000 $28,421 4.88%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 4 $340,000 $85,000 $1,141 8.69%
Port Angeles, WA (FHA|USDA|VA) 2 $270,000 $135,000 $1,761 6.37%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 1 $75,000 $75,000 $254 7.24%
EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 1 $35,000 $35,000 $0 8.50%
Red Canoe Credit Union's top markets include Longview, Seattle, Portland, Centralia, and Shelton among others.

Their top states include:
  • Washington (FHA|USDA|VA)
  • Oregon (FHA|USDA|VA)
  • Idaho (FHA|USDA|VA)
  • Similar Lenders

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

    RED CANOE CREDIT UNION
    Similarity Rank: 414
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 284 $45,460,000 $160,070 $3,588 7.43%
    HELOC 193 $22,175,000 $114,896 n/a 8.67%

    For 2024, Red Canoe Credit Union's most frequently originated type of loan was Conventional, with 284 originations. Their 2nd most popular type was HELOC, with 193 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 276 $34,620,000 $125,435 $2,107 8.09%
    Home Improvement 96 $16,690,000 $173,854 $9,445 7.75%
    Cash Out Refi 83 $8,225,000 $99,096 $640 7.90%
    Home Purchase 21 $7,825,000 $372,619 $8,108 6.74%
    Other 1 $275,000 $275,000 $0 7.75%

    For 2024, Red Canoe Credit Union's most frequently cited loan purpose was Refi, with 276 originations. The 2nd most popular reason was Home Improvement, with 96 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 232 $22,490,000 $96,940 $502 7.65%
    Other 196 $23,090,000 $117,806 $0 8.67%
    30 Year 39 $21,135,000 $541,923 $22,379 6.05%
    5 Year 7 $415,000 $59,286 $262 6.81%
    15 Year 3 $505,000 $168,333 $4,110 8.38%

    For 2024, Red Canoe Credit Union's most frequently cited loan duration was 20 Year, with 232 originations. The 2nd most popular length was Other, with 196 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 236 $22,750,000 $96,398
    $5k+ 20 $14,300,000 $715,000
    $1k-2k 15 $5,405,000 $360,333
    $2k-3k 6 $1,470,000 $245,000
    $3k-4k 5 $1,155,000 $231,000
    $4k-5k 1 $345,000 $345,000

    Red Canoe Credit Union's average total fees were $22,379, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 236 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 223 $23,145,000 $103,789
    Over 8% 210 $23,960,000 $114,095
    6-7% 25 $7,785,000 $311,400
    5-6% 10 $6,840,000 $684,000
    4-5% 8 $5,830,000 $728,750
    <2.5% 1 $75,000 $75,000

    During 2024, Red Canoe Credit Union's average interest rate for loans was 6.05%, while their most frequently originated rate bucket for loans was 7-8%, with 223 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 259 $14,475,000 $55,888 $399 8.08%
    $100k-200k 129 $17,015,000 $131,899 $767 8.08%
    $200k-400k 55 $14,335,000 $260,636 $3,631 7.85%
    $400k-600k 21 $10,445,000 $497,381 $15,440 6.76%
    $600k-1MM 10 $7,820,000 $782,000 $43,067 5.77%
    $1MM+ 3 $3,545,000 $1,181,667 $47,271 5.75%

    2024 saw Red Canoe Credit Union place emphasis on $100,000 or less loans with 259 originations, totaling $14,475,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 152 $18,180,000 $119,605 $1,182 8.01%
    $150k-250k 98 $20,760,000 $211,837 $6,925 7.61%
    $75k-100k 84 $8,850,000 $105,357 $1,130 8.09%
    $50k-75k 61 $4,665,000 $76,475 $844 8.15%
    $50k or less 38 $1,860,000 $48,947 $887 8.11%
    $250k+ 32 $12,240,000 $382,500 $25,031 7.39%

    Red Canoe Credit Union lent most frequently to those with incomes in the $100k-150k range, with 152 originations. The second most popular income band? $150k-250k, with 98 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 82 $9,960,000 $121,463 $2,604 7.79%
    20-30% 68 $9,700,000 $142,647 $2,438 7.82%
    44% 55 $6,855,000 $124,636 $2,178 8.20%
    43% 45 $6,295,000 $139,889 $4,615 8.04%
    41% 35 $4,345,000 $124,143 $3,121 7.90%
    42% 34 $4,430,000 $130,294 $3,073 8.29%
    38% 23 $2,615,000 $113,696 $3,216 7.87%
    39% 21 $4,115,000 $195,952 $9,423 7.98%
    <20% 19 $2,165,000 $113,947 $941 7.78%
    40% 19 $3,415,000 $179,737 $5,703 7.98%
    36% 18 $2,610,000 $145,000 $9,834 7.84%
    37% 15 $2,775,000 $185,000 $7,353 7.68%
    45% 15 $2,515,000 $167,667 $1,255 8.22%
    50-60% 8 $1,470,000 $183,750 $0 7.44%
    47% 5 $745,000 $149,000 $2,890 7.70%
    46% 5 $1,545,000 $309,000 $2,398 7.35%
    49% 4 $1,500,000 $375,000 $7,736 6.44%
    >60% 3 $285,000 $95,000 $0 8.17%
    48% 1 $55,000 $55,000 $0 9.00%

    Red Canoe Credit Union lent most frequently to those with DTI ratios of 30-36%, with 82 originations. The next most common DTI ratio? 20-30%, with 68 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 385 $49,665,000 $129,000 $2,878 8.00%
    Not provided 60 $12,830,000 $213,833 $6,808 7.60%
    American Indian 14 $2,330,000 $166,429 $3,008 7.18%
    Asian 10 $1,750,000 $175,000 $10,921 8.13%
    Asian Indian 1 $355,000 $355,000 $319 7.24%
    Other Asian 2 $270,000 $135,000 $0 8.00%
    Black 2 $180,000 $90,000 $0 9.75%
    Guamanian 1 $115,000 $115,000 $210 8.24%
    Native Hawaiian or Islander 1 $85,000 $85,000 $0 8.50%
    Filipino 1 $55,000 $55,000 $1,079 7.24%

    Approval Rates

    Total approvals of all applications
    88.09%

    Red Canoe Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    64.57%

    Red Canoe 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 477 $67,635,000 $141,792

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    477 $67,635,000 $141,792

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 133 $20,025,000 $150,564 $708 8.05%
    40-60% 34 $7,900,000 $232,353 $3,692 8.24%
    60-80% 33 $18,365,000 $556,515 $27,579 6.47%
    80-100% 10 $4,610,000 $461,000 $10,650 6.96%
    Under 20% 267 $16,735,000 $62,678 $392 8.05%