Red Canoe Credit Union Mortgage Rates, Fees & Info
Longview, WALEI: 54930007KK7ZS3IJVC25
Tax ID: 91-0565155
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Mortgage Data
Review & Overview
Red Canoe Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Red Canoe Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Longview, Seattle, Olympia, Portland, and Albany among others. We have data for 20 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 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) | 5.87% | 4/21/24 |
| 30 Year Conventional Purchase | 6.81% | 4/21/24 |
| 30 Year Conventional Refi | 6.71% | 4/21/24 |
| 30 Year Cash-out Refi | 7.00% | 4/21/24 |
| 15 Year Conventional Purchase | 7.60% | 4/21/24 |
| 15 Year Conventional Refi | 6.23% | 4/21/24 |
| 15 Year Cash-out Refi | 6.23% | 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. | ||
Red Canoe Credit Union Mortgage Calculator
Your Estimates
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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
415Origination Dollar Volume (All Markets)
$66,265,000Top 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) | 229 | $27,355,000 | $119,454 | $506 | 5.50% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 65 | $15,415,000 | $237,154 | $0 | 5.59% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 6 | $9,460,000 | $1,576,667 | $0 | 5.17% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 35 | $3,385,000 | $96,714 | $5,012 | 5.96% |
| ALBANY-LEBANON, OR (FHA|USDA|VA) | 25 | $2,685,000 | $107,400 | $0 | 5.50% |
| Centralia, WA (FHA|USDA|VA) | 18 | $2,490,000 | $138,333 | $0 | 5.20% |
| Outside of Metro Areas | 13 | $1,945,000 | $149,615 | $279 | 5.12% |
| SALEM, OR (FHA|USDA|VA) | 6 | $650,000 | $108,333 | $0 | 6.14% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 3 | $525,000 | $175,000 | $0 | 5.57% |
| EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $0 | 4.81% |
| CORVALLIS, OR (FHA|USDA|VA) | 3 | $315,000 | $105,000 | $0 | 5.41% |
| Newport, OR (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 5.25% |
| WENATCHEE, WA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 4.50% |
| BELLINGHAM, WA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 5.13% |
| Astoria, OR (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $0 | 3.81% |
| LEWISTON, ID-WA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 4.00% |
| Port Angeles, WA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 5.00% |
| BEND, OR (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 4.25% |
| Aberdeen, WA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 4.75% |
| Ellensburg, WA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 4.13% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 415 | $66,265,000 | $159,675 | $592 | 5.50% |
For 2018, Red Canoe Credit Union's most frequently originated type of loan was Conventional, with 415 originations.
Loan Reason
For 2018, Red Canoe Credit Union's most frequently cited loan purpose was Home Improvement, with 102 originations. The 2nd most popular reason was Other, with 101 originations.
Loan Duration/Length
For 2018, Red Canoe Credit Union's most frequently cited loan duration was 20 Year, with 202 originations. The 2nd most popular length was 30 Year, with 128 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 17 | $2,025,000 | $119,118 |
| $3k-4k | 1 | $225,000 | $225,000 |
Red Canoe Credit Union's average total fees were $1,122, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 17 originations.
Interest Rates
During 2018, Red Canoe Credit Union's average interest rate for loans was 4.99%, while their most frequently originated rate bucket for loans was 5-6%, with 188 originations.
Loan Sizing
2018 saw Red Canoe Credit Union place emphasis on $100,000 or less loans with 218 originations, totaling $11,220,000 in origination value.
Applicant Income
Red Canoe Credit Union lent most frequently to those with incomes in the $50k-75k range, with 110 originations. The second most popular income band? $100k-150k, with 98 originations.
Applicant Debt to Income Ratio
Red Canoe Credit Union lent most frequently to those with DTI ratios of 30-36%, with 76 originations. The next most common DTI ratio? 20-30%, with 57 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications88.73%
Red Canoe Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination75.42%
Red Canoe Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 415 | $66,265,000 | $159,675 |