Canyon State Credit Union Mortgage Rates, Fees & Info

Phoenix, AZ

LEI: 5493002IVUY1DY0ZCL83

Tax ID: 86-6050693

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

    Canyon State Credit Union is a smaller credit union specializing in Refi and Cash Out Refi loans. Canyon State Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Phoenix, Payson, Prescott Valley, Tucson, and Flagstaff among others. We have data for 11 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.

    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
    30 Year Conventional Purchase 6.59% 11/22/24
    30 Year Conventional Refi 6.08% 11/22/24
    30 Year Cash-out Refi 6.35% 11/22/24
    15 Year Conventional Purchase 5.66% 11/22/24
    15 Year Conventional Refi 7.12% 11/22/24
    15 Year Cash-out Refi 7.12% 11/22/24
    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






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Canyon State 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

    761

    Origination Dollar Volume (All Markets)

    $129,775,000

    Awards

    Canyon State Credit Union 30 Year Conventional Loans gold Canyon State Credit Union 30 Year Conventional Loans gold Canyon State Credit Union 30 Year Conventional Loans silver Canyon State Credit Union 30 Year Conventional Loans silver
    Show all (4) 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
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 698 $119,680,000 $171,461 $2,014 3.71%
    Payson, AZ (FHA|USDA|VA) 23 $3,305,000 $143,696 $1,870 3.97%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 12 $2,150,000 $179,167 $2,358 3.42%
    TUCSON, AZ (FHA|USDA|VA) 10 $1,450,000 $145,000 $2,082 3.25%
    FLAGSTAFF, AZ (FHA|USDA|VA) 6 $1,270,000 $211,667 $1,872 3.29%
    Outside of Metro Areas 4 $850,000 $212,500 $2,954 3.90%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $455,000 $455,000 $2,259 3.50%
    Nogales, AZ (FHA|USDA|VA) 2 $270,000 $135,000 $3,893 3.31%
    LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 2 $190,000 $95,000 $1,982 2.69%
    SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) 1 $85,000 $85,000 $2,629 2.75%
    Show Low, AZ (FHA|USDA|VA) 2 $70,000 $35,000 $0 4.88%
    Canyon State Credit Union's top markets include Phoenix, Payson, Prescott Valley, Tucson, and Flagstaff among others.

    Their top states include:
  • Arizona (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)

    • 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.

    BLUE BRICK FINANCIAL LLC
    Similarity Rank: 825
    First Credit Union
    Similarity Rank: 1034
    TRI-EMERALD FINANCIAL GROUP, INC.
    Similarity Rank: 1054
    ARIZONA CENTRAL
    Similarity Rank: 1056
    Armed Forces Bank
    Similarity Rank: 1136
    ALTITUDE FINANCIAL CORPORATION
    Similarity Rank: 1218
    Canyon State Credit Union
    Similarity Rank: 2453
    Western State Bank
    Similarity Rank: 2900
    Bank of Whittier
    Similarity Rank: 3105
    West Gate Bank
    Similarity Rank: 3456

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 680 $123,480,000 $181,588 $2,022 3.60%
    HELOC 80 $5,970,000 $74,625 n/a 4.57%
    Reverse Mortgage 1 $325,000 $325,000 $0 3.00%

    For 2020, Canyon State Credit Union's most frequently originated type of loan was Conventional, with 680 originations. Their 2nd most popular type was HELOC, with 80 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 307 $60,745,000 $197,866 $2,059 3.11%
    Cash Out Refi 219 $47,745,000 $218,014 $2,392 3.14%
    Home Improvement 124 $7,200,000 $58,065 $447 5.24%
    Other 69 $3,775,000 $54,710 $7 5.70%
    Home Purchase 42 $10,310,000 $245,476 $3,833 3.19%

    For 2020, Canyon State Credit Union's most frequently cited loan purpose was Refi, with 307 originations. The 2nd most popular reason was Cash Out Refi, with 219 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 367 $83,715,000 $228,106 $2,487 3.25%
    15 Year 211 $29,025,000 $137,559 $1,668 3.66%
    Other 89 $6,715,000 $75,449 $994 4.62%
    10 Year 39 $2,025,000 $51,923 $192 5.74%
    20 Year 37 $7,825,000 $211,486 $2,378 3.01%
    5 Year 18 $470,000 $26,111 $0 5.85%

    For 2020, Canyon State Credit Union's most frequently cited loan duration was 30 Year, with 367 originations. The 2nd most popular length was 15 Year, with 211 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 550 $99,740,000 $181,345
    $1k-2k 72 $13,730,000 $190,694
    $2k-3k 20 $4,270,000 $213,500
    $3k-4k 10 $2,990,000 $299,000
    $4k-5k 4 $1,560,000 $390,000

    Canyon State Credit Union's average total fees were $2,487, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 550 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 297 $62,995,000 $212,104
    2.5-3% 220 $43,570,000 $198,045
    <2.5% 75 $12,155,000 $162,067
    5-6% 62 $2,660,000 $42,903
    6-7% 62 $2,900,000 $46,774
    4-5% 38 $5,170,000 $136,053
    7-8% 4 $220,000 $55,000
    Over 8% 3 $105,000 $35,000

    During 2020, Canyon State Credit Union's average interest rate for loans was 3.25%, while their most frequently originated rate bucket for loans was 3-4%, with 297 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 253 $66,135,000 $261,403 $2,568 3.19%
    $100,000 or less 243 $12,885,000 $53,025 $908 4.87%
    $100k-200k 232 $35,130,000 $151,422 $2,068 3.10%
    $400k-600k 31 $14,335,000 $462,419 $2,881 3.28%
    $600k-1MM 2 $1,290,000 $645,000 $2,459 3.56%

    2020 saw Canyon State Credit Union place emphasis on $200k-400k loans with 253 originations, totaling $66,135,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 206 $30,880,000 $149,903 $2,047 3.62%
    $100k-150k 179 $34,505,000 $192,765 $2,023 3.87%
    $75k-100k 153 $27,815,000 $181,797 $2,114 3.61%
    $50k or less 114 $12,800,000 $112,281 $1,935 3.42%
    $150k-250k 76 $16,550,000 $217,763 $2,009 3.94%
    $250k+ 20 $5,590,000 $279,500 $2,079 4.01%

    Canyon State Credit Union lent most frequently to those with incomes in the $50k-75k range, with 206 originations. The second most popular income band? $100k-150k, with 179 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 200 $33,650,000 $168,250 $2,099 3.51%
    30-36% 157 $27,095,000 $172,580 $1,966 3.83%
    <20% 93 $15,885,000 $170,806 $1,959 3.42%
    42% 39 $6,845,000 $175,513 $1,782 3.77%
    43% 28 $5,030,000 $179,643 $2,208 3.61%
    44% 27 $4,475,000 $165,741 $1,843 3.81%
    41% 27 $4,145,000 $153,519 $1,927 4.44%
    38% 26 $3,630,000 $139,615 $1,951 4.10%
    40% 25 $3,995,000 $159,800 $1,876 3.77%
    36% 22 $4,190,000 $190,455 $2,177 3.60%
    37% 21 $4,135,000 $196,905 $2,328 3.81%
    39% 21 $4,315,000 $205,476 $2,042 3.63%
    45% 18 $2,920,000 $162,222 $2,600 3.86%
    46% 14 $2,530,000 $180,714 $2,352 3.61%
    47% 12 $1,750,000 $145,833 $1,801 4.21%
    48% 11 $1,785,000 $162,273 $2,177 3.34%
    49% 8 $1,830,000 $228,750 $1,857 3.52%
    50-60% 5 $435,000 $87,000 $781 5.65%

    Canyon State Credit Union lent most frequently to those with DTI ratios of 20-30%, with 200 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 563 $92,865,000 $164,947 $1,991 3.85%
    Not provided 155 $30,655,000 $197,774 $2,189 3.07%
    Black 22 $3,240,000 $147,273 $1,916 3.87%
    Asian 11 $2,255,000 $205,000 $2,458 3.48%
    American Indian 5 $295,000 $59,000 $0 5.40%
    Asian Indian 1 $225,000 $225,000 $1,704 3.13%
    Native Hawaiian or Islander 1 $165,000 $165,000 $1,704 2.63%
    Not applicable 2 $60,000 $30,000 $0 6.19%
    Other Asian 1 $15,000 $15,000 $0 6.75%

    Approval Rates

    Total approvals of all applications
    84.48%

    Canyon State Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    79.89%

    Canyon State Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 761 $129,775,000 $170,532

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 6 $910,000 $151,667
    Single Family (1-4 Units):Site-Built 755 $128,865,000 $170,682

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 130 $13,380,000 $102,923 $1,735 3.61%
    40-60% 145 $26,215,000 $180,793 $2,099 2.94%
    60-80% 273 $68,295,000 $250,165 $2,478 3.23%
    80-100% 58 $15,240,000 $262,759 $2,905 3.18%
    Under 20% 155 $6,645,000 $42,871 $106 5.52%