Hapo Community Credit Union Mortgage Rates, Fees & Info

Richland, WA

LEI: 54930097J3TUZXBXXE75

Tax ID: 91-1792217

5 stars - out of 5 stars, based on 26 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Hapo Community Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Hapo Community Credit Union has a high proportion of conventional loans. Their top markets include Kennewick, Yakima, Hermiston, Portland, and Walla Walla among others. Hapo Community Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Hapo Community Credit Union is typically an average fee lendor.


Originations

700

Origination Dollar Volume (All Markets)

$150,360,000

Awards

HAPO COMMUNITY CREDIT UNION 30 Year Conventional Loans silver HAPO COMMUNITY CREDIT UNION 30 Year Conventional Loans bronze
Show all (2) awards

Relative Rate

Hapo Community Credit Union's average 30 year fixed rate mortgage of loans were 3.34%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.19%.

Relative Fees

Hapo Community Credit Union's average total fees for a 30 year fixed rate mortgage are $4,049.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 452 $102,610,000 $227,013 $3,458 3.34%
YAKIMA, WA (FHA|USDA|VA) 132 $22,180,000 $168,030 $3,427 3.30%
Hermiston-Pendleton, OR (FHA|USDA|VA) 30 $7,130,000 $237,667 $3,183 3.59%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 30 $6,770,000 $225,667 $2,742 3.70%
WALLA WALLA, WA (FHA|USDA|VA) 31 $6,265,000 $202,097 $3,062 3.31%
Outside of Metro Areas 2 $1,180,000 $590,000 $6,672 3.13%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 7 $1,105,000 $157,857 $2,253 3.52%
Ellensburg, WA (FHA|USDA|VA) 1 $605,000 $605,000 $6,963 3.50%
Othello, WA (FHA|USDA|VA) 3 $575,000 $191,667 $3,507 3.63%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 2 $390,000 $195,000 $1,398 3.75%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $335,000 $335,000 $7,066 4.38%
BEND, OR (FHA|USDA|VA) 1 $325,000 $325,000 $6,744 2.88%
Outside of Metro Areas 2 $320,000 $160,000 $4,063 3.47%
Moses Lake, WA (FHA|USDA|VA) 2 $230,000 $115,000 $3,114 3.13%
LONGVIEW, WA (FHA|USDA|VA) 1 $195,000 $195,000 $2,217 3.38%
Pullman, WA (FHA|USDA|VA) 1 $75,000 $75,000 $959 5.00%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 1 $35,000 $35,000 $1,202 4.00%
ALBANY-LEBANON, OR (FHA|USDA|VA) 1 $35,000 $35,000 $1,072 4.25%

Hapo Community Credit Union's top markets include Kennewick, Yakima, Hermiston, Portland, and Walla Walla among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 700 $150,360,000 $214,800 $3,389 3.36%

For the 2021 period, Hapo Community Credit Union's most frequently originated loan type of loans were Conventional, with 700 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 170 $57,610,000 $338,882 $4,834 3.26%
Cash Out Refi 169 $37,715,000 $223,166 $3,521 3.39%
Home Improvement 160 $22,830,000 $142,688 $2,687 3.54%
Refi 128 $24,110,000 $188,359 $3,136 2.94%
Other 73 $8,095,000 $110,890 $1,779 3.87%

For the 2021, Hapo Community Credit Union's most frequently cited loan purpose of loans were Home Purchase, with 170 originations. The 2nd most popular reason of loans were Cash Out Refi, with 169 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 366 $97,180,000 $265,519 $4,049 3.34%
15 Year 226 $30,800,000 $136,283 $2,328 3.41%
10 Year 47 $7,065,000 $150,319 $1,839 3.38%
20 Year 46 $8,260,000 $179,565 $3,484 3.25%
30+ year 7 $4,655,000 $665,000 $12,656 3.50%
1 Year 4 $1,280,000 $320,000 $1,241 3.56%
5 Year 3 $385,000 $128,333 $1,020 4.66%
Other 1 $735,000 $735,000 $12,330 3.25%

For the 2021, Hapo Community Credit Union's most frequently cited loan length of loans were 30 Year, with 366 originations. The 2nd most popular length of loans were 15 Year, with 226 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 220 $35,170,000 $159,864
$<1k 217 $32,915,000 $151,682
$2k-3k 153 $38,775,000 $253,431
$3k-4k 85 $28,225,000 $332,059
$5k+ 23 $12,225,000 $531,522

$4,049 of loans were Hapo Community Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 220 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 357 $83,635,000 $234,272
2.5-3% 220 $47,180,000 $214,455
4-5% 76 $11,250,000 $148,026
<2.5% 45 $7,935,000 $176,333
5-6% 2 $360,000 $180,000

During 2021, Hapo Community Credit Union's average interest rate of loans were 3.34%, while their most frequently originated rate bucket of loans were 3-4%, with 357 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 273 $77,115,000 $282,473 $4,159 3.19%
$100k-200k 222 $33,130,000 $149,234 $2,989 3.29%
$100,000 or less 152 $9,300,000 $61,184 $1,538 3.77%
$400k-600k 41 $19,635,000 $478,902 $5,501 3.30%
$600k-1MM 9 $6,385,000 $709,444 $11,042 3.58%
$1MM+ 3 $4,795,000 $1,598,333 $10,657 3.67%

2021 saw Hapo Community Credit Union place emphasis on $200k-400k loans with 273 originations, totaling $77,115,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 155 $29,025,000 $187,258 $3,360 3.34%
$75k-100k 155 $30,335,000 $195,710 $3,241 3.33%
$100k-150k 148 $33,940,000 $229,324 $3,385 3.43%
$50k or less 119 $16,375,000 $137,605 $2,892 3.27%
$150k-250k 93 $26,025,000 $279,839 $3,792 3.45%
$250k+ 23 $10,665,000 $463,696 $5,698 3.43%

Hapo Community Credit Union lent most frequently to those with incomes in the $50k-75k range, with 155 originations. The second most popular income band? $75k-100k, with 155 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 185 $40,105,000 $216,784 $3,487 3.27%
30-36% 139 $27,135,000 $195,216 $3,147 3.37%
<20% 79 $13,055,000 $165,253 $2,824 3.26%
40% 33 $7,035,000 $213,182 $3,312 3.53%
36% 31 $6,715,000 $216,613 $3,248 3.47%
42% 29 $6,235,000 $215,000 $4,086 3.44%
37% 29 $5,835,000 $201,207 $3,494 3.51%
39% 29 $6,475,000 $223,276 $3,468 3.27%
41% 26 $6,570,000 $252,692 $3,543 3.20%
38% 26 $5,630,000 $216,538 $3,203 3.43%
44% 23 $4,805,000 $208,913 $3,461 3.39%
43% 19 $3,845,000 $202,368 $3,098 3.80%
45% 12 $2,610,000 $217,500 $3,971 3.43%
46% 11 $3,365,000 $305,909 $4,230 3.44%
49% 8 $1,970,000 $246,250 $3,957 3.55%
47% 6 $2,070,000 $345,000 $6,093 3.40%
48% 6 $1,720,000 $286,667 $4,921 3.12%
50-60% 5 $1,315,000 $263,000 $2,787 3.55%
>60% 2 $820,000 $410,000 $5,417 3.63%

Hapo Community Credit Union lent most frequently to those with DTI ratios of 20-30%, with 185 originations. The next most common DTI ratio? 30-36%, with 139 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 593 $124,785,000 $210,430 $3,417 3.35%
Not provided 88 $18,120,000 $205,909 $3,113 3.43%
Not applicable 2 $3,050,000 $1,525,000 $0 4.25%
Asian 8 $1,920,000 $240,000 $3,690 3.23%
Black 5 $1,315,000 $263,000 $3,975 3.10%
American Indian 3 $885,000 $295,000 $4,132 3.46%
Asian Indian 1 $285,000 $285,000 $0 5.49%

Approval Rates

Total approvals of all applications
86.01%

Hapo Community Credit Union has an average approval rate.

Pick Rate

Approvals leading to origination
80.72%

Hapo Community Credit Union has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 700 $150,360,000 $214,800

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
700 $150,360,000 $214,800

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 101 $10,535,000 $104,307 $2,170 3.35%
40-60% 160 $29,460,000 $184,125 $3,161 3.06%
60-80% 225 $66,325,000 $294,778 $4,385 3.37%
80-100% 128 $39,600,000 $309,375 $4,496 3.24%
Under 20% 86 $4,440,000 $51,628 $1,074 4.13%