Canyon State Credit Union Mortgage Rates, Fees & Info
Phoenix, AZLEI: 5493002IVUY1DY0ZCL83
Tax ID: 86-6050693
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Mortgage Data
Review & Overview
Canyon State Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. Canyon State Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Phoenix, Payson, Flagstaff, Prescott Valley, and Tucson among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)Canyon State 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. Canyon State 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 |
|---|---|---|
| 30 Year Conventional Purchase | 6.59% | 4/28/24 |
| 30 Year Conventional Refi | 6.08% | 4/28/24 |
| 30 Year Cash-out Refi | 6.35% | 4/28/24 |
| 15 Year Conventional Purchase | 5.66% | 4/28/24 |
| 15 Year Conventional Refi | 7.12% | 4/28/24 |
| 15 Year Cash-out Refi | 7.12% | 4/28/24 |
| 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. | ||
Canyon State Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
281Origination Dollar Volume (All Markets)
$27,365,000Awards
Canyon State Credit Union - 2019
Canyon State Credit Union is a 2019 , due to their low .
For 2019, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 244 | $23,340,000 | $95,656 | $1,056 | 5.36% |
| Payson, AZ (FHA|USDA|VA) | 19 | $2,085,000 | $109,737 | $1,612 | 4.69% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 4 | $730,000 | $182,500 | $2,012 | 4.78% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 5 | $625,000 | $125,000 | $1,364 | 5.45% |
| TUCSON, AZ (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $1,236 | 4.75% |
| Outside of Metro Areas | 1 | $125,000 | $125,000 | $0 | 5.99% |
| Show Low, AZ (FHA|USDA|VA) | 3 | $115,000 | $38,333 | $779 | 5.63% |
| SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,434 | 4.38% |
| Nogales, AZ (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 5.50% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 6.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Canyon State 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 | 240 | $24,930,000 | $103,875 | $1,104 | 5.18% |
| HELOC | 41 | $2,435,000 | $59,390 | n/a | 6.06% |
For 2019, Canyon State Credit Union's most frequently originated type of loan was Conventional, with 240 originations. Their 2nd most popular type was HELOC, with 41 originations.
Loan Reason
For 2019, Canyon State Credit Union's most frequently cited loan purpose was Other, with 88 originations. The 2nd most popular reason was Home Improvement, with 67 originations.
Loan Duration/Length
For 2019, Canyon State Credit Union's most frequently cited loan duration was 15 Year, with 75 originations. The 2nd most popular length was 30 Year, with 67 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 219 | $20,945,000 | $95,639 |
| $1k-2k | 13 | $2,955,000 | $227,308 |
| $2k-3k | 3 | $815,000 | $271,667 |
Canyon State Credit Union's average total fees were $2,465, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 219 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 71 | $3,635,000 | $51,197 |
| 4-5% | 69 | $9,145,000 | $132,536 |
| 3-4% | 63 | $10,855,000 | $172,302 |
| 6-7% | 45 | $2,205,000 | $49,000 |
| 7-8% | 33 | $1,525,000 | $46,212 |
During 2019, Canyon State Credit Union's average interest rate for loans was 4.25%, while their most frequently originated rate bucket for loans was 5-6%, with 71 originations.
Loan Sizing
2019 saw Canyon State Credit Union place emphasis on $100,000 or less loans with 175 originations, totaling $7,705,000 in origination value.
Applicant Income
Canyon State Credit Union lent most frequently to those with incomes in the $50k-75k range, with 84 originations. The second most popular income band? $75k-100k, with 68 originations.
Applicant Debt to Income Ratio
Canyon State Credit Union lent most frequently to those with DTI ratios of 20-30%, with 69 originations. The next most common DTI ratio? 30-36%, with 51 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications72.34%
Canyon State Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination78.29%
Canyon State Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 1 | $55,000 | $55,000 |
| NA | 280 | $27,310,000 | $97,536 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 3 | $265,000 | $88,333 |
| Single Family (1-4 Units):Site-Built | 278 | $27,100,000 | $97,482 |