Hapo Community Credit Union Mortgage Rates, Fees & Info

Richland, WA

LEI: 54930097J3TUZXBXXE75

Tax ID: 91-1792217

5 stars - Updated: 4/14/24 - out of 5 stars, based on 21 reviews

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

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Mortgage Data

Review & Overview

Hapo Community Credit Union is a smaller credit union specializing in Home Purchase loans. Hapo Community Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Kennewick, Yakima, Walla Walla, Portland, and Hermiston among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)

Hapo Community 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. Hapo Community 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 relatively high 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 6.53% 4/14/24
30 Year Conventional Refi 6.80% 4/14/24
30 Year Cash-out Refi 6.83% 4/14/24
30 Year FHA Purchase 6.17% 4/14/24
30 Year FHA Refi 6.27% 4/14/24
30 Year VA Purchase 5.87% 4/14/24
15 Year Conventional Purchase 6.22% 4/14/24
15 Year Conventional Refi 6.26% 4/14/24
15 Year Cash-out Refi 6.26% 4/14/24
15 Year FHA Purchase 5.68% 4/14/24
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.

Hapo Community Credit Union Mortgage Calculator






Your Estimates

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

This is not an official calculator from Hapo Community 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

452

Origination Dollar Volume (All Markets)

$76,630,000

Relative Rate

Hapo Community Credit Union's average 30 year fixed mortgage rate was 6.64%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.16%.

Relative Fees (Closing Costs)

Hapo Community Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $7,559.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 272 $51,870,000 $190,699 $3,185 6.99%
YAKIMA, WA (FHA|USDA|VA) 85 $10,855,000 $127,706 $3,236 6.86%
WALLA WALLA, WA (FHA|USDA|VA) 23 $3,355,000 $145,870 $2,357 7.07%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 17 $2,125,000 $125,000 $2,401 6.78%
Hermiston-Pendleton, OR (FHA|USDA|VA) 26 $2,070,000 $79,615 $2,164 6.80%
LONGVIEW, WA (FHA|USDA|VA) 3 $1,385,000 $461,667 $10,714 6.21%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 6 $990,000 $165,000 $2,559 6.92%
Moses Lake, WA (FHA|USDA|VA) 4 $630,000 $157,500 $4,907 6.09%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 2 $620,000 $310,000 $6,258 6.81%
Outside of Metro Areas 4 $580,000 $145,000 $4,032 6.84%
BEND, OR (FHA|USDA|VA) 1 $545,000 $545,000 $9,627 6.63%
Outside of Metro Areas 2 $460,000 $230,000 $4,443 6.94%
Oak Harbor, WA (FHA|USDA|VA) 1 $425,000 $425,000 $9,333 7.00%
Centralia, WA (FHA|USDA|VA) 1 $215,000 $215,000 $5,082 6.38%
Shelton, WA (FHA|USDA|VA) 1 $195,000 $195,000 $2,523 6.25%
WENATCHEE, WA (FHA|USDA|VA) 1 $105,000 $105,000 $1,933 6.88%
Othello, WA (FHA|USDA|VA) 1 $85,000 $85,000 $915 6.50%
Astoria, OR (FHA|USDA|VA) 1 $85,000 $85,000 $1,339 6.25%
Ellensburg, WA (FHA|USDA|VA) 1 $35,000 $35,000 $499 8.38%
Hapo Community Credit Union's top markets include Kennewick, Yakima, Walla Walla, Portland, and Hermiston 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 HAPO COMMUNITY CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Baker Boyer National Bank
    Similarity Rank: 45
    Solarity Credit Union
    Similarity Rank: 55
    INROADS
    Similarity Rank: 238
    Wheatland Bank
    Similarity Rank: 456
    Clackamas Federal Credit Union
    Similarity Rank: 776
    HAPO COMMUNITY CREDIT UNION
    Similarity Rank: 855
    SPOKANE TEACHERS
    Similarity Rank: 928
    NUMERICA CREDIT UNION
    Similarity Rank: 946

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 452 $76,630,000 $169,535 $3,162 6.93%

    For 2023, Hapo Community Credit Union's most frequently originated type of loan was Conventional, with 452 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 141 $11,255,000 $79,823 $1,195 7.19%
    Home Purchase 115 $45,005,000 $391,348 $8,308 6.55%
    Other 111 $8,485,000 $76,441 $1,065 7.04%
    Cash Out Refi 79 $11,115,000 $140,696 $2,712 6.89%
    Refi 6 $770,000 $128,333 $3,712 6.94%

    For 2023, Hapo Community Credit Union's most frequently cited loan purpose was Home Improvement, with 141 originations. The 2nd most popular reason was Home Purchase, with 115 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 262 $21,820,000 $83,282 $1,021 7.14%
    30 Year 128 $40,070,000 $313,047 $7,559 6.64%
    10 Year 41 $2,215,000 $54,024 $852 6.71%
    30+ year 15 $11,505,000 $767,000 $17,314 6.45%
    20 Year 5 $715,000 $143,000 $5,636 7.15%
    Other 1 $305,000 $305,000 $10,667 5.88%

    For 2023, Hapo Community Credit Union's most frequently cited loan duration was 15 Year, with 262 originations. The 2nd most popular length was 30 Year, with 128 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 294 $24,250,000 $82,483
    $5k+ 70 $34,320,000 $490,286
    $4k-5k 30 $8,440,000 $281,333
    $2k-3k 27 $3,665,000 $135,741
    $3k-4k 27 $5,655,000 $209,444
    $1k-2k 4 $300,000 $75,000

    Hapo Community Credit Union's average total fees were $7,559, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 294 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 232 $37,450,000 $161,422
    7-8% 81 $16,355,000 $201,914
    Over 8% 81 $7,155,000 $88,333
    5-6% 53 $13,995,000 $264,057
    4-5% 5 $1,675,000 $335,000

    During 2023, Hapo Community Credit Union's average interest rate for loans was 6.64%, while their most frequently originated rate bucket for loans was 6-7%, with 232 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 221 $12,065,000 $54,593 $912 7.16%
    $100k-200k 105 $14,045,000 $133,762 $2,299 6.81%
    $200k-400k 85 $24,945,000 $293,471 $6,928 6.69%
    $400k-600k 28 $13,440,000 $480,000 $9,915 6.48%
    $600k-1MM 8 $5,310,000 $663,750 $12,578 6.38%
    $1MM+ 5 $6,825,000 $1,365,000 $23,284 6.73%

    2023 saw Hapo Community Credit Union place emphasis on $100,000 or less loans with 221 originations, totaling $12,065,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 115 $18,655,000 $162,217 $3,281 6.97%
    $75k-100k 100 $13,020,000 $130,200 $2,669 7.03%
    $150k-250k 92 $19,290,000 $209,674 $3,326 6.82%
    $50k-75k 76 $8,520,000 $112,105 $2,854 6.98%
    $50k or less 36 $3,520,000 $97,778 $2,865 6.77%
    $250k+ 31 $13,155,000 $424,355 $5,297 6.88%

    Hapo Community Credit Union lent most frequently to those with incomes in the $100k-150k range, with 115 originations. The second most popular income band? $75k-100k, with 100 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 95 $12,525,000 $131,842 $2,661 6.94%
    30-36% 87 $13,135,000 $150,977 $2,750 6.94%
    <20% 33 $5,515,000 $167,121 $3,440 6.64%
    42% 28 $5,750,000 $205,357 $3,832 6.75%
    37% 26 $4,650,000 $178,846 $2,219 7.26%
    39% 26 $3,150,000 $121,154 $2,212 7.12%
    36% 25 $2,665,000 $106,600 $2,341 7.20%
    40% 24 $4,140,000 $172,500 $2,992 7.07%
    41% 23 $5,195,000 $225,870 $4,372 6.65%
    38% 20 $3,230,000 $161,500 $2,636 7.24%
    44% 13 $2,345,000 $180,385 $3,355 6.79%
    43% 13 $2,485,000 $191,154 $3,058 7.21%
    45% 11 $2,785,000 $253,182 $3,914 6.72%
    46% 7 $1,685,000 $240,714 $7,086 6.48%
    47% 7 $2,585,000 $369,286 $5,536 6.63%
    48% 6 $2,030,000 $338,333 $8,089 6.81%
    49% 5 $1,635,000 $327,000 $6,982 6.88%
    50-60% 2 $810,000 $405,000 $12,224 5.38%
    >60% 1 $315,000 $315,000 $7,607 6.25%

    Hapo Community Credit Union lent most frequently to those with DTI ratios of 20-30%, with 95 originations. The next most common DTI ratio? 30-36%, with 87 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 384 $64,360,000 $167,604 $3,122 6.94%
    Not provided 46 $8,130,000 $176,739 $3,041 6.91%
    Black 7 $1,555,000 $222,143 $4,768 7.09%
    Asian 6 $1,370,000 $228,333 $3,998 7.23%
    American Indian 7 $955,000 $136,429 $3,561 6.41%
    Native Hawaiian or Islander 2 $260,000 $130,000 $3,893 6.56%

    Approval Rates

    Total approvals of all applications
    74.50%

    Hapo Community Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    69.47%

    Hapo Community 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 452 $76,630,000 $169,535

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    452 $76,630,000 $169,535

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 113 $14,085,000 $124,646 $2,053 6.90%
    40-60% 34 $7,180,000 $211,176 $4,586 6.47%
    60-80% 55 $21,755,000 $395,545 $8,078 6.53%
    80-100% 56 $21,670,000 $386,964 $8,322 6.83%
    Under 20% 194 $11,940,000 $61,546 $880 7.17%