Red Canoe Credit Union Mortgage Rates, Fees & Info

Longview, WA

LEI: 54930007KK7ZS3IJVC25

Tax ID: 91-0565155

1 stars - Updated: 10/13/24 - out of 5 stars, based on 22 reviews

Latest/2023 | 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 Home Improvement and Home Purchase loans. Red Canoe Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Longview, Seattle, Portland, Centralia, and Olympia among others. We have data for 33 markets. (Some data included below & more in-depth data is available with an active subscription.)

Red Canoe Credit Union has an above 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 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.

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) 5.87% 10/13/24
30 Year Conventional Purchase 6.81% 10/13/24
30 Year Conventional Refi 6.71% 10/13/24
30 Year Cash-out Refi 7.00% 10/13/24
15 Year Conventional Purchase 7.60% 10/13/24
15 Year Conventional Refi 6.23% 10/13/24
15 Year Cash-out Refi 6.23% 10/13/24
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.

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

500

Origination Dollar Volume (All Markets)

$91,530,000

Awards

RED CANOE CREDIT UNION 30 Year Conventional Loans bronze RED CANOE CREDIT UNION 30 Year Conventional Loans gold RED CANOE CREDIT UNION 30 Year Conventional Loans gold RED CANOE CREDIT UNION 30 Year Conventional Loans silver
Show all (4) awards

Relative Rate

Red Canoe Credit Union's average 30 year fixed mortgage rate was 6.1%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.38%.

Relative Fees (Closing Costs)

Red Canoe Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $16,631.

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 $9,089.

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) 191 $23,815,000 $124,686 $1,563 7.56%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 118 $18,620,000 $157,797 $3,594 7.67%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 53 $13,405,000 $252,925 $7,882 7.32%
Outside of Metro Areas 26 $5,570,000 $214,231 $5,528 7.34%
Centralia, WA (FHA|USDA|VA) 25 $3,405,000 $136,200 $3,413 7.38%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 10 $3,070,000 $307,000 $7,601 7.25%
EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 7 $2,945,000 $420,714 $14,917 6.18%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 5 $2,115,000 $423,000 $24,873 7.25%
ALBANY-LEBANON, OR (FHA|USDA|VA) 18 $2,040,000 $113,333 $2,117 7.74%
Newport, OR (FHA|USDA|VA) 4 $2,030,000 $507,500 $17,794 5.94%
Port Angeles, WA (FHA|USDA|VA) 3 $1,925,000 $641,667 $18,724 5.92%
Oak Harbor, WA (FHA|USDA|VA) 3 $1,505,000 $501,667 $20,258 6.41%
MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 2 $1,450,000 $725,000 $29,725 5.38%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 3 $1,345,000 $448,333 $29,439 6.67%
Sandpoint, ID (FHA|USDA|VA) 3 $1,315,000 $438,333 $15,519 6.17%
Coos Bay, OR (FHA|USDA|VA) 3 $975,000 $325,000 $20,562 6.75%
Outside of Metro Areas 1 $665,000 $665,000 $19,973 5.25%
Astoria, OR (FHA|USDA|VA) 2 $610,000 $305,000 $20,073 7.50%
WALLA WALLA, WA (FHA|USDA|VA) 1 $555,000 $555,000 $0 6.25%
BEND, OR (FHA|USDA|VA) 3 $545,000 $181,667 $4,414 7.66%
Hood River, OR (FHA|USDA|VA) 1 $535,000 $535,000 $16,107 5.75%
YAKIMA, WA (FHA|USDA|VA) 1 $475,000 $475,000 $14,685 4.75%
Jackson, WY-ID (FHA|USDA|VA) 1 $465,000 $465,000 $14,226 5.88%
WENATCHEE, WA (FHA|USDA|VA) 1 $455,000 $455,000 $1,134 5.99%
Roseburg, OR (FHA|USDA|VA) 1 $365,000 $365,000 $20,035 5.50%
CORVALLIS, OR (FHA|USDA|VA) 2 $300,000 $150,000 $617 7.49%
Aberdeen, WA (FHA|USDA|VA) 2 $260,000 $130,000 $0 7.49%
SALEM, OR (FHA|USDA|VA) 4 $220,000 $55,000 $511 8.62%
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 1 $205,000 $205,000 $0 8.00%
BELLINGHAM, WA (FHA|USDA|VA) 2 $180,000 $90,000 $228 9.12%
Ellensburg, WA (FHA|USDA|VA) 1 $105,000 $105,000 $0 10.00%
Shelton, WA (FHA|USDA|VA) 1 $35,000 $35,000 $3 7.24%
Hermiston-Pendleton, OR (FHA|USDA|VA) 1 $25,000 $25,000 $1 9.74%
Red Canoe Credit Union's top markets include Longview, Seattle, Portland, Centralia, and Olympia 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.

    INROADS
    Similarity Rank: 238
    LO, INC.
    Similarity Rank: 492
    CU HOME MORTGAGE SOLUTIONS, LLC
    Similarity Rank: 693
    Clackamas Federal Credit Union
    Similarity Rank: 776
    COLUMBIA COMMUNITY CREDIT UNION
    Similarity Rank: 988
    ADVANTIS
    Similarity Rank: 1288
    FIBRE FEDERAL CREDIT UNION
    Similarity Rank: 1386
    MORTGAGE LENDING GROUP LLC
    Similarity Rank: 1408

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 382 $79,040,000 $206,911 $4,848 7.20%
    HELOC 118 $12,490,000 $105,847 n/a 8.28%

    For 2023, Red Canoe Credit Union's most frequently originated type of loan was Conventional, with 382 originations. Their 2nd most popular type was HELOC, with 118 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 218 $20,170,000 $92,523 $439 7.79%
    Home Purchase 126 $54,540,000 $432,857 $14,705 6.55%
    Other 87 $8,335,000 $95,805 $345 7.80%
    Refi 43 $5,505,000 $128,023 $912 7.67%
    Cash Out Refi 26 $2,980,000 $114,615 $1,641 7.53%

    For 2023, Red Canoe Credit Union's most frequently cited loan purpose was Home Improvement, with 218 originations. The 2nd most popular reason was Home Purchase, with 126 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 258 $24,730,000 $95,853 $389 7.63%
    Other 118 $12,490,000 $105,847 $0 8.28%
    30 Year 104 $52,960,000 $509,231 $16,631 6.10%
    5 Year 11 $445,000 $40,455 $153 6.56%
    15 Year 9 $905,000 $100,556 $2,255 8.53%

    For 2023, Red Canoe Credit Union's most frequently cited loan duration was 20 Year, with 258 originations. The 2nd most popular length was Other, with 118 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 266 $24,450,000 $91,917
    $5k+ 84 $47,360,000 $563,810
    $2k-3k 10 $1,710,000 $171,000
    $3k-4k 8 $1,780,000 $222,500
    $4k-5k 8 $2,600,000 $325,000
    $1k-2k 6 $1,140,000 $190,000

    Red Canoe Credit Union's average total fees were $16,631, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 266 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 234 $25,710,000 $109,872
    Over 8% 120 $10,430,000 $86,917
    6-7% 85 $21,525,000 $253,235
    5-6% 57 $31,535,000 $553,246
    4-5% 4 $2,330,000 $582,500

    During 2023, Red Canoe Credit Union's average interest rate for loans was 6.10%, while their most frequently originated rate bucket for loans was 7-8%, with 234 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 250 $13,850,000 $55,400 $233 7.85%
    $100k-200k 115 $15,855,000 $137,870 $1,241 7.78%
    $200k-400k 56 $14,840,000 $265,000 $4,830 7.14%
    $400k-600k 52 $25,350,000 $487,500 $14,603 6.10%
    $600k-1MM 24 $18,330,000 $763,750 $26,416 5.71%
    $1MM+ 3 $3,305,000 $1,101,667 $46,417 5.42%

    2023 saw Red Canoe Credit Union place emphasis on $100,000 or less loans with 250 originations, totaling $13,850,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 143 $24,665,000 $172,483 $3,886 7.53%
    $150k-250k 141 $35,935,000 $254,858 $7,954 7.20%
    $75k-100k 90 $11,000,000 $122,222 $2,605 7.48%
    $50k-75k 65 $5,975,000 $91,923 $1,587 7.58%
    $250k+ 32 $12,570,000 $392,813 $17,175 7.21%
    $50k or less 28 $1,330,000 $47,500 $249 8.26%

    Red Canoe Credit Union lent most frequently to those with incomes in the $100k-150k range, with 143 originations. The second most popular income band? $150k-250k, with 141 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 76 $13,100,000 $172,368 $4,180 7.34%
    44% 72 $13,500,000 $187,500 $4,827 7.57%
    20-30% 66 $7,610,000 $115,303 $1,759 7.31%
    43% 44 $8,630,000 $196,136 $7,068 7.48%
    41% 34 $5,860,000 $172,353 $3,257 7.71%
    40% 28 $6,120,000 $218,571 $7,349 7.57%
    39% 28 $5,030,000 $179,643 $3,600 7.71%
    37% 24 $3,950,000 $164,583 $4,306 7.31%
    42% 23 $3,365,000 $146,304 $4,264 7.64%
    38% 19 $5,035,000 $265,000 $9,649 7.30%
    <20% 17 $2,425,000 $142,647 $1,768 7.29%
    47% 16 $4,470,000 $279,375 $9,761 7.15%
    36% 16 $3,370,000 $210,625 $4,843 7.67%
    45% 13 $3,855,000 $296,538 $12,012 7.13%
    46% 11 $2,375,000 $215,909 $7,230 7.63%
    49% 7 $1,795,000 $256,429 $5,194 7.35%
    48% 4 $890,000 $222,500 $7,063 6.94%
    >60% 1 $45,000 $45,000 $0 7.75%

    Red Canoe Credit Union lent most frequently to those with DTI ratios of 30-36%, with 76 originations. The next most common DTI ratio? 44%, with 72 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 385 $65,855,000 $171,052 $4,282 7.50%
    Not provided 84 $19,430,000 $231,310 $6,768 7.19%
    Asian 13 $3,085,000 $237,308 $5,214 7.18%
    Black 7 $1,405,000 $200,714 $6,832 8.06%
    Native Hawaiian or Islander 5 $1,255,000 $251,000 $18,091 7.60%
    Asian Indian 2 $260,000 $130,000 $0 8.63%
    American Indian 3 $175,000 $58,333 $269 8.07%
    Other Asian 1 $65,000 $65,000 $9 6.99%

    Approval Rates

    Total approvals of all applications
    94.97%

    Red Canoe Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    72.00%

    Red Canoe Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 500 $91,530,000 $183,060

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    500 $91,530,000 $183,060

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 99 $14,295,000 $144,394 $917 7.74%
    40-60% 50 $15,530,000 $310,600 $7,239 6.90%
    60-80% 64 $31,510,000 $492,344 $15,532 6.34%
    80-100% 25 $12,085,000 $483,400 $17,752 6.58%
    Under 20% 261 $18,005,000 $68,985 $324 7.81%