Red Canoe Credit Union Mortgage Rates, Fees & Info

Longview, WA

LEI: 54930007KK7ZS3IJVC25

Tax ID: 91-0565155

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • 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 Albany among others. We have data for 26 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 an average 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.

    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% 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

    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

    681

    Origination Dollar Volume (All Markets)

    $96,505,000

    Awards

    RED CANOE CREDIT UNION 30 Year Conventional Loans bronze
    Show all (1) awards

    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) 335 $40,875,000 $122,015 $2,393 5.39%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 127 $22,535,000 $177,441 $1,588 5.66%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 50 $6,450,000 $129,000 $1,928 5.51%
    Centralia, WA (FHA|USDA|VA) 45 $6,265,000 $139,222 $3,241 4.93%
    ALBANY-LEBANON, OR (FHA|USDA|VA) 33 $4,195,000 $127,121 $1,822 5.30%
    Outside of Metro Areas 23 $3,355,000 $145,870 $3,664 4.97%
    BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 18 $3,020,000 $167,778 $755 4.90%
    OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 12 $2,140,000 $178,333 $3,237 5.78%
    CORVALLIS, OR (FHA|USDA|VA) 7 $1,595,000 $227,857 $6,572 5.27%
    SALEM, OR (FHA|USDA|VA) 7 $1,435,000 $205,000 $6,065 5.50%
    Newport, OR (FHA|USDA|VA) 2 $910,000 $455,000 $12,467 5.75%
    Coos Bay, OR (FHA|USDA|VA) 1 $645,000 $645,000 $18,640 4.75%
    Oak Harbor, WA (FHA|USDA|VA) 2 $540,000 $270,000 $6,705 6.93%
    Shelton, WA (FHA|USDA|VA) 2 $520,000 $260,000 $10,368 4.38%
    SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 2 $430,000 $215,000 $1,949 4.75%
    Astoria, OR (FHA|USDA|VA) 1 $345,000 $345,000 $4,565 3.88%
    BELLINGHAM, WA (FHA|USDA|VA) 2 $290,000 $145,000 $0 5.62%
    KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 1 $195,000 $195,000 $3,457 6.50%
    Port Angeles, WA (FHA|USDA|VA) 2 $190,000 $95,000 $224 5.75%
    EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 2 $190,000 $95,000 $1,870 4.68%
    Klamath Falls, OR (FHA|USDA|VA) 1 $135,000 $135,000 $4,147 4.88%
    BEND, OR (FHA|USDA|VA) 2 $110,000 $55,000 $0 4.75%
    Rexburg, ID (FHA|USDA|VA) 1 $45,000 $45,000 $29 5.99%
    Sandpoint, ID (FHA|USDA|VA) 1 $35,000 $35,000 $0 6.75%
    Aberdeen, WA (FHA|USDA|VA) 1 $35,000 $35,000 $0 7.75%
    WENATCHEE, WA (FHA|USDA|VA) 1 $25,000 $25,000 $197 6.49%
    Red Canoe Credit Union's top markets include Longview, Seattle, Portland, Centralia, and Albany 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.

    People's Community Federal Credit Union
    Similarity Rank: 10
    RED CANOE CREDIT UNION
    Similarity Rank: 624
    SOUND
    Similarity Rank: 625
    Yakima Federal Savings and Loan Association
    Similarity Rank: 700
    OREGONIANS CREDIT UNION
    Similarity Rank: 880
    America's Credit Union
    Similarity Rank: 945
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 1053
    Wauna Federal Credit Union
    Similarity Rank: 1155
    NorthWest Plus Credit Union
    Similarity Rank: 1323
    Qualstar Credit Union
    Similarity Rank: 1518

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 454 $71,920,000 $158,414 $2,490 5.67%
    HELOC 227 $24,585,000 $108,304 n/a 4.85%

    For 2022, Red Canoe Credit Union's most frequently originated type of loan was Conventional, with 454 originations. Their 2nd most popular type was HELOC, with 227 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 343 $32,445,000 $94,592 $708 5.60%
    Other 128 $13,260,000 $103,594 $875 5.63%
    Home Purchase 102 $27,060,000 $265,294 $5,500 5.24%
    Cash Out Refi 89 $17,945,000 $201,629 $4,676 4.67%
    Refi 19 $5,795,000 $305,000 $5,837 4.46%

    For 2022, Red Canoe Credit Union's most frequently cited loan purpose was Home Improvement, with 343 originations. The 2nd most popular reason was Other, with 128 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 273 $25,245,000 $92,473 $413 6.24%
    Other 227 $24,585,000 $108,304 $0 4.85%
    30 Year 127 $35,435,000 $279,016 $7,037 4.89%
    15 Year 37 $10,475,000 $283,108 $4,344 4.56%
    5 Year 17 $765,000 $45,000 $119 4.81%

    For 2022, Red Canoe Credit Union's most frequently cited loan duration was 20 Year, with 273 originations. The 2nd most popular length was Other, with 227 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 282 $23,840,000 $84,539
    $5k+ 52 $18,780,000 $361,154
    $1k-2k 36 $7,090,000 $196,944
    $2k-3k 30 $7,150,000 $238,333
    $3k-4k 20 $4,310,000 $215,500
    $4k-5k 13 $2,965,000 $228,077

    Red Canoe Credit Union's average total fees were $7,037, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 282 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 247 $34,295,000 $138,846
    3-4% 162 $25,150,000 $155,247
    6-7% 122 $16,080,000 $131,803
    4-5% 102 $17,090,000 $167,549
    7-8% 22 $1,850,000 $84,091
    Over 8% 20 $880,000 $44,000
    2.5-3% 6 $1,160,000 $193,333

    During 2022, Red Canoe Credit Union's average interest rate for loans was 4.89%, while their most frequently originated rate bucket for loans was 5-6%, with 247 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 327 $17,295,000 $52,890 $174 5.79%
    $100k-200k 186 $25,530,000 $137,258 $1,975 5.10%
    $200k-400k 137 $35,395,000 $258,358 $6,013 4.96%
    $400k-600k 23 $10,635,000 $462,391 $9,263 5.04%
    $600k-1MM 6 $4,440,000 $740,000 $15,944 4.44%
    $1MM+ 2 $3,210,000 $1,605,000 $19,415 6.00%

    2022 saw Red Canoe Credit Union place emphasis on $100,000 or less loans with 327 originations, totaling $17,295,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 182 $25,460,000 $139,890 $2,727 5.37%
    $75k-100k 139 $16,695,000 $120,108 $2,395 5.44%
    $50k-75k 135 $13,895,000 $102,926 $2,271 5.36%
    $150k-250k 118 $19,780,000 $167,627 $2,432 5.35%
    $50k or less 61 $5,645,000 $92,541 $2,187 5.86%
    $250k+ 24 $7,200,000 $300,000 $4,865 5.38%

    Red Canoe Credit Union lent most frequently to those with incomes in the $100k-150k range, with 182 originations. The second most popular income band? $75k-100k, with 139 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 109 $14,445,000 $132,523 $2,171 5.36%
    20-30% 91 $11,385,000 $125,110 $2,624 5.03%
    44% 54 $7,000,000 $129,630 $2,738 5.74%
    47% 52 $5,340,000 $102,692 $776 5.65%
    41% 39 $5,435,000 $139,359 $3,520 5.07%
    42% 38 $4,810,000 $126,579 $1,602 5.65%
    43% 35 $4,485,000 $128,143 $2,373 5.49%
    45% 30 $4,400,000 $146,667 $2,494 6.03%
    39% 30 $4,200,000 $140,000 $3,486 5.47%
    38% 27 $4,065,000 $150,556 $3,436 5.45%
    <20% 24 $3,240,000 $135,000 $2,134 5.31%
    36% 24 $3,040,000 $126,667 $3,342 5.11%
    46% 23 $3,215,000 $139,783 $2,903 5.46%
    37% 23 $2,685,000 $116,739 $1,415 5.31%
    40% 22 $3,430,000 $155,909 $2,933 5.60%
    49% 22 $4,730,000 $215,000 $3,627 5.58%
    48% 16 $2,770,000 $173,125 $2,983 5.57%

    Red Canoe Credit Union lent most frequently to those with DTI ratios of 30-36%, with 109 originations. The next most common DTI ratio? 20-30%, with 91 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 526 $70,500,000 $134,030 $2,485 5.42%
    Not provided 99 $14,805,000 $149,545 $3,167 5.34%
    Not applicable 21 $7,785,000 $370,714 $0 4.60%
    Black 12 $1,240,000 $103,333 $138 5.97%
    American Indian 10 $960,000 $96,000 $1,328 6.11%
    Asian 7 $635,000 $90,714 $366 4.82%
    Other Asian 3 $455,000 $151,667 $61 6.33%
    Filipino 1 $75,000 $75,000 $0 7.49%
    Native Hawaiian or Islander 2 $50,000 $25,000 $0 4.00%

    Approval Rates

    Total approvals of all applications
    95.73%

    Red Canoe Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    69.02%

    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 681 $96,505,000 $141,711

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    681 $96,505,000 $141,711

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 172 $26,360,000 $153,256 $1,301 5.28%
    40-60% 71 $18,085,000 $254,718 $5,345 4.76%
    60-80% 64 $21,710,000 $339,219 $8,378 4.77%
    80-100% 26 $9,120,000 $350,769 $7,044 4.83%
    Under 20% 347 $20,985,000 $60,476 $163 5.74%