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 Home Improvement and Other 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 Show Low among others. We have data for 14 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.

    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
    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

    532

    Origination Dollar Volume (All Markets)

    $44,670,000

    Awards

    Canyon State Credit Union 30 Year Conventional Loans gold
    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
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 469 $39,385,000 $83,977 $956 6.01%
    Payson, AZ (FHA|USDA|VA) 21 $1,485,000 $70,714 $1,028 5.64%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 15 $1,145,000 $76,333 $800 6.71%
    TUCSON, AZ (FHA|USDA|VA) 12 $950,000 $79,167 $703 6.70%
    Show Low, AZ (FHA|USDA|VA) 5 $355,000 $71,000 $1,149 6.10%
    BOISE CITY, ID (FHA|USDA|VA) 1 $305,000 $305,000 $4,086 3.75%
    Nogales, AZ (FHA|USDA|VA) 1 $305,000 $305,000 $5,230 6.50%
    SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) 2 $290,000 $145,000 $3,024 5.56%
    TOPEKA, KS (FHA|USDA|VA) 1 $225,000 $225,000 $3,401 3.63%
    FLAGSTAFF, AZ (FHA|USDA|VA) 1 $75,000 $75,000 $0 4.75%
    HANFORD-CORCORAN, CA (FHA|USDA|VA) 1 $65,000 $65,000 $3,318 5.00%
    Safford, AZ (FHA|USDA|VA) 1 $45,000 $45,000 $462 8.00%
    LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $25,000 $25,000 $0 6.50%
    YUMA, AZ (FHA|USDA|VA) 1 $15,000 $15,000 $0 4.75%
    Canyon State Credit Union's top markets include Phoenix, Payson, Prescott Valley, Tucson, and Show Low among others.

    Their top states include:
  • Arizona (FHA|USDA|VA)
  • Idaho (FHA|USDA|VA)
  • Kansas (FHA|USDA|VA)
  • California (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.

    First Credit Union
    Similarity Rank: 450
    AERO Federal Credit Union
    Similarity Rank: 894
    BLUE BRICK FINANCIAL LLC
    Similarity Rank: 1598
    OneAZ Credit Union
    Similarity Rank: 1651
    ARIZONA CENTRAL
    Similarity Rank: 1672
    THE ANDERSON FINANCIAL GROUP, INC.
    Similarity Rank: 1768
    Opendoor Home Loans LLC
    Similarity Rank: 2180
    DEFINE MORTGAGE SOLUTIONS, LLC
    Similarity Rank: 2387
    CREDIT UNION WEST
    Similarity Rank: 2440
    SUBURBAN MORTGAGE, INC.
    Similarity Rank: 2600

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 377 $33,205,000 $88,077 $990 6.24%
    HELOC 155 $11,465,000 $73,968 n/a 5.50%

    For 2022, Canyon State Credit Union's most frequently originated type of loan was Conventional, with 377 originations. Their 2nd most popular type was HELOC, with 155 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 233 $14,955,000 $64,185 $277 5.95%
    Other 209 $12,365,000 $59,163 $303 6.60%
    Cash Out Refi 43 $8,325,000 $193,605 $3,315 4.19%
    Refi 24 $2,420,000 $100,833 $1,552 5.93%
    Home Purchase 23 $6,605,000 $287,174 $4,836 5.07%

    For 2022, Canyon State Credit Union's most frequently cited loan purpose was Home Improvement, with 233 originations. The 2nd most popular reason was Other, with 209 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 160 $12,320,000 $77,000 $3,639 5.45%
    15 Year 159 $12,565,000 $79,025 $635 6.55%
    10 Year 85 $4,005,000 $47,118 $286 6.49%
    5 Year 58 $2,200,000 $37,931 $315 6.48%
    30 Year 54 $12,470,000 $230,926 $3,808 4.82%
    Other 16 $1,110,000 $69,375 $334 6.41%

    For 2022, Canyon State Credit Union's most frequently cited loan duration was 20 Year, with 160 originations. The 2nd most popular length was 15 Year, with 159 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 328 $22,600,000 $68,902
    $1k-2k 28 $6,120,000 $218,571
    $2k-3k 12 $2,100,000 $175,000
    $5k+ 5 $1,385,000 $277,000
    $4k-5k 2 $490,000 $245,000
    $3k-4k 1 $445,000 $445,000

    Canyon State Credit Union's average total fees were $3,808, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 328 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 148 $10,630,000 $71,824
    5-6% 144 $10,220,000 $70,972
    3-4% 85 $11,485,000 $135,118
    7-8% 79 $4,695,000 $59,430
    4-5% 39 $5,225,000 $133,974
    Over 8% 33 $1,615,000 $48,939
    2.5-3% 3 $685,000 $228,333
    <2.5% 1 $115,000 $115,000

    During 2022, Canyon State Credit Union's average interest rate for loans was 4.82%, while their most frequently originated rate bucket for loans was 6-7%, with 148 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 395 $18,865,000 $47,759 $376 6.30%
    $100k-200k 91 $12,005,000 $131,923 $1,655 5.50%
    $200k-400k 38 $10,110,000 $266,053 $3,785 4.58%
    $400k-600k 8 $3,690,000 $461,250 $6,656 5.17%

    2022 saw Canyon State Credit Union place emphasis on $100,000 or less loans with 395 originations, totaling $18,865,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 136 $11,650,000 $85,662 $771 6.26%
    $75k-100k 128 $9,090,000 $71,016 $790 6.13%
    $50k-75k 121 $8,255,000 $68,223 $1,066 5.86%
    $150k-250k 74 $7,990,000 $107,973 $743 6.33%
    $50k or less 52 $4,150,000 $79,808 $2,001 5.25%
    $250k+ 21 $3,535,000 $168,333 $1,605 5.55%

    Canyon State Credit Union lent most frequently to those with incomes in the $100k-150k range, with 136 originations. The second most popular income band? $75k-100k, with 128 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 100 $8,830,000 $88,300 $1,060 5.86%
    20-30% 89 $7,455,000 $83,764 $1,083 5.80%
    41% 33 $2,655,000 $80,455 $1,113 6.03%
    42% 33 $3,535,000 $107,121 $1,368 6.05%
    44% 32 $2,920,000 $91,250 $919 6.32%
    46% 28 $1,510,000 $53,929 $470 6.08%
    37% 26 $2,320,000 $89,231 $875 5.81%
    <20% 25 $2,505,000 $100,200 $1,558 5.22%
    40% 24 $1,650,000 $68,750 $465 6.68%
    39% 21 $1,735,000 $82,619 $796 6.39%
    45% 21 $1,475,000 $70,238 $318 6.33%
    43% 19 $1,485,000 $78,158 $1,673 6.03%
    38% 19 $1,185,000 $62,368 $426 6.42%
    47% 16 $1,910,000 $119,375 $1,549 6.39%
    36% 15 $1,195,000 $79,667 $745 6.52%
    50-60% 13 $1,065,000 $81,923 $537 5.73%
    48% 7 $525,000 $75,000 $382 6.64%
    49% 6 $450,000 $75,000 $1,866 5.65%
    >60% 3 $135,000 $45,000 $1,091 6.00%

    Canyon State Credit Union lent most frequently to those with DTI ratios of 30-36%, with 100 originations. The next most common DTI ratio? 20-30%, with 89 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 470 $35,910,000 $76,404 $695 6.09%
    Not provided 39 $6,685,000 $171,410 $3,348 5.25%
    Black 10 $950,000 $95,000 $1,846 6.15%
    American Indian 6 $530,000 $88,333 $959 6.13%
    Asian 5 $525,000 $105,000 $3,581 4.88%
    Native Hawaiian or Islander 2 $70,000 $35,000 $277 7.00%

    Approval Rates

    Total approvals of all applications
    75.84%

    Canyon State Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    86.47%

    Canyon State Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 532 $44,670,000 $83,966

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    532 $44,670,000 $83,966

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 66 $8,650,000 $131,061 $1,334 5.68%
    40-60% 30 $6,340,000 $211,333 $3,424 4.37%
    60-80% 16 $4,630,000 $289,375 $3,859 4.25%
    80-100% 13 $3,885,000 $298,846 $5,325 5.26%
    Under 20% 407 $21,165,000 $52,002 $313 6.30%