Red Canoe Credit Union Mortgage Rates, Fees & Info

Longview, WA

LEI: 54930007KK7ZS3IJVC25

Tax ID: 91-0565155

Latest/2023 | 2022 Data | 2021 Data | 2020 Data |

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Mortgage Data

Review & Overview

Red Canoe Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. Red Canoe Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Longview, Seattle, Portland, Albany, and Centralia 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 above 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 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) 5.87% 3/27/24
30 Year Conventional Purchase 6.81% 3/27/24
30 Year Conventional Refi 6.71% 3/27/24
30 Year Cash-out Refi 7.00% 3/27/24
15 Year Conventional Purchase 7.60% 3/27/24
15 Year Conventional Refi 6.23% 3/27/24
15 Year Cash-out Refi 6.23% 3/27/24
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

724

Origination Dollar Volume (All Markets)

$152,620,000

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) 428 $82,370,000 $192,453 $0 3.39%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 102 $26,230,000 $257,157 $0 3.44%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 59 $14,475,000 $245,339 $0 3.35%
Outside of Metro Areas 30 $6,080,000 $202,667 $0 3.15%
ALBANY-LEBANON, OR (FHA|USDA|VA) 30 $5,940,000 $198,000 $0 3.36%
Centralia, WA (FHA|USDA|VA) 29 $5,125,000 $176,724 $0 3.91%
BEND, OR (FHA|USDA|VA) 8 $2,080,000 $260,000 $0 3.45%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 8 $1,810,000 $226,250 $0 4.47%
Aberdeen, WA (FHA|USDA|VA) 6 $1,380,000 $230,000 $0 3.81%
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 1 $1,295,000 $1,295,000 $0 4.50%
SALEM, OR (FHA|USDA|VA) 5 $1,255,000 $251,000 $0 3.28%
BELLINGHAM, WA (FHA|USDA|VA) 3 $885,000 $295,000 $0 3.25%
Newport, OR (FHA|USDA|VA) 2 $580,000 $290,000 $0 2.69%
CORVALLIS, OR (FHA|USDA|VA) 3 $525,000 $175,000 $0 3.83%
MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 1 $455,000 $455,000 $0 3.13%
Moses Lake, WA (FHA|USDA|VA) 1 $395,000 $395,000 $0 3.00%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 2 $340,000 $170,000 $0 3.25%
Astoria, OR (FHA|USDA|VA) 1 $285,000 $285,000 $0 2.88%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 1 $255,000 $255,000 $0 3.25%
Hermiston-Pendleton, OR (FHA|USDA|VA) 1 $245,000 $245,000 $0 2.75%
YAKIMA, WA (FHA|USDA|VA) 1 $225,000 $225,000 $0 2.88%
EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 1 $205,000 $205,000 $0 3.25%
LEWISTON, ID-WA (FHA|USDA|VA) 1 $185,000 $185,000 $0 2.75%
Red Canoe Credit Union's top markets include Longview, Seattle, Portland, Albany, and Centralia among others.

Their top states include:
  • Washington (FHA|USDA|VA)
  • Oregon (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 724 $152,620,000 $210,801 $0 3.41%

    For 2020, Red Canoe Credit Union's most frequently originated type of loan was Conventional, with 724 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 306 $65,600,000 $214,379 $0 3.19%
    Refi 205 $45,975,000 $224,268 $0 2.96%
    Other 100 $17,950,000 $179,500 $0 4.29%
    Home Purchase 70 $18,420,000 $263,143 $0 3.62%
    Home Improvement 43 $4,675,000 $108,721 $0 4.81%

    For 2020, Red Canoe Credit Union's most frequently cited loan purpose was Cash Out Refi, with 306 originations. The 2nd most popular reason was Refi, with 205 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 368 $88,040,000 $239,239 $0 3.26%
    15 Year 214 $43,470,000 $203,131 $0 3.01%
    20 Year 131 $20,675,000 $157,824 $0 4.40%
    5 Year 11 $435,000 $39,545 $0 4.72%

    For 2020, Red Canoe Credit Union's most frequently cited loan duration was 30 Year, with 368 originations. The 2nd most popular length was 15 Year, with 214 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 293 $63,385,000 $216,331
    3-4% 280 $64,990,000 $232,107
    4-5% 50 $11,570,000 $231,400
    <2.5% 46 $9,320,000 $202,609
    5-6% 23 $1,205,000 $52,391
    6-7% 20 $1,420,000 $71,000
    Over 8% 7 $395,000 $56,429
    7-8% 5 $335,000 $67,000

    During 2020, Red Canoe Credit Union's average interest rate for loans was 3.26%, while their most frequently originated rate bucket for loans was 2.5-3%, with 293 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 324 $89,010,000 $274,722 $0 3.15%
    $100k-200k 251 $38,995,000 $155,359 $0 3.15%
    $100,000 or less 113 $7,055,000 $62,434 $0 4.79%
    $400k-600k 34 $15,520,000 $456,471 $0 3.35%
    $1MM+ 1 $1,295,000 $1,295,000 $0 4.50%
    $600k-1MM 1 $745,000 $745,000 $0 2.75%

    2020 saw Red Canoe Credit Union place emphasis on $200k-400k loans with 324 originations, totaling $89,010,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 175 $31,135,000 $177,914 $0 3.44%
    $100k-150k 163 $39,565,000 $242,730 $0 3.33%
    $75k-100k 162 $35,190,000 $217,222 $0 3.32%
    $50k or less 113 $14,225,000 $125,885 $0 3.53%
    $150k-250k 83 $22,235,000 $267,892 $0 3.26%
    $250k+ 14 $4,340,000 $310,000 $0 3.90%

    Red Canoe Credit Union lent most frequently to those with incomes in the $50k-75k range, with 175 originations. The second most popular income band? $100k-150k, with 163 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 166 $34,910,000 $210,301 $0 3.15%
    30-36% 157 $32,685,000 $208,185 $0 3.32%
    <20% 61 $11,505,000 $188,607 $0 3.09%
    41% 37 $7,395,000 $199,865 $0 3.69%
    42% 36 $7,670,000 $213,056 $0 3.75%
    40% 36 $7,790,000 $216,389 $0 3.30%
    44% 34 $7,040,000 $207,059 $0 4.20%
    36% 34 $7,120,000 $209,412 $0 3.16%
    39% 30 $6,180,000 $206,000 $0 3.45%
    37% 29 $5,935,000 $204,655 $0 3.64%
    43% 29 $5,435,000 $187,414 $0 3.87%
    38% 23 $4,995,000 $217,174 $0 3.39%
    45% 11 $2,555,000 $232,273 $0 3.53%
    46% 10 $1,840,000 $184,000 $0 3.56%
    49% 6 $920,000 $153,333 $0 3.23%
    47% 5 $1,455,000 $291,000 $0 3.40%
    48% 2 $440,000 $220,000 $0 2.94%

    Red Canoe Credit Union lent most frequently to those with DTI ratios of 20-30%, with 166 originations. The next most common DTI ratio? 30-36%, with 157 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 597 $121,635,000 $203,744 $0 3.39%
    Not provided 85 $19,245,000 $226,412 $0 3.37%
    Not applicable 14 $5,930,000 $423,571 $0 4.65%
    Asian 16 $3,930,000 $245,625 $0 3.31%
    American Indian 7 $1,055,000 $150,714 $0 3.96%
    Native Hawaiian or Islander 3 $445,000 $148,333 $0 3.92%
    Black 2 $380,000 $190,000 $0 3.13%

    Approval Rates

    Total approvals of all applications
    94.69%

    Red Canoe Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    67.96%

    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
    Exempt 724 $152,620,000 $210,801

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $2,285,000 $761,667
    Single Family (1-4 Units):Manufactured 62 $9,460,000 $152,581
    Single Family (1-4 Units):Site-Built 659 $140,875,000 $213,771

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 94 $11,570,000 $123,085 $0 3.46%
    40-60% 220 $42,660,000 $193,909 $0 3.03%
    60-80% 285 $73,845,000 $259,105 $0 3.20%
    80-100% 58 $16,570,000 $285,690 $0 3.35%
    Under 20% 53 $2,715,000 $51,226 $0 5.82%