Hapo Community Credit Union Mortgage Rates, Fees & Info

Richland, WA

LEI: 54930097J3TUZXBXXE75

Tax ID: 91-1792217

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

Review & Overview

Hapo Community Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Hapo Community Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Kennewick, Yakima, Portland, Hermiston, and Walla Walla among others. We have data for 20 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 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	6.53%	12/16/24
30 Year Conventional Refi	6.80%	12/16/24
30 Year Cash-out Refi	6.83%	12/16/24
30 Year FHA Purchase	6.17%	12/16/24
30 Year FHA Refi	6.27%	12/16/24
30 Year VA Purchase	5.87%	12/16/24
15 Year Conventional Purchase	6.22%	12/16/24
15 Year Conventional Refi	6.26%	12/16/24
15 Year Cash-out Refi	6.26%	12/16/24
15 Year FHA Purchase	5.68%	12/16/24
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

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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

582

Origination Dollar Volume (All Markets)

$81,460,000

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)	387	$53,925,000	$139,341	$1,910	4.63%
YAKIMA, WA (FHA\|USDA\|VA)	88	$10,560,000	$120,000	$2,569	4.54%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA\|USDA\|VA)	34	$6,510,000	$191,471	$2,683	4.43%
Hermiston-Pendleton, OR (FHA\|USDA\|VA)	24	$2,580,000	$107,500	$2,161	4.68%
WALLA WALLA, WA (FHA\|USDA\|VA)	18	$2,120,000	$117,778	$1,878	4.55%
Seattle-Tacoma-Bellevue, WA (FHA\|USDA\|VA)	11	$2,035,000	$185,000	$2,782	4.94%
Outside of Metro Areas	4	$570,000	$142,500	$1,903	4.53%
SPOKANE-SPOKANE VALLEY, WA (FHA\|USDA\|VA)	2	$540,000	$270,000	$6,288	5.44%
Sandpoint, ID (FHA\|USDA\|VA)	1	$475,000	$475,000	$7,680	3.63%
Brookings, OR (FHA\|USDA\|VA)	1	$345,000	$345,000	$9,256	3.50%
WENATCHEE, WA (FHA\|USDA\|VA)	1	$315,000	$315,000	$4,779	4.13%
Moses Lake, WA (FHA\|USDA\|VA)	2	$300,000	$150,000	$3,731	3.94%
Othello, WA (FHA\|USDA\|VA)	2	$300,000	$150,000	$3,896	5.44%
Newport, OR (FHA\|USDA\|VA)	1	$275,000	$275,000	$3,334	3.88%
TUCSON, AZ (FHA\|USDA\|VA)	1	$215,000	$215,000	$5,027	3.13%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA\|USDA\|VA)	1	$125,000	$125,000	$2,519	4.38%
BELLINGHAM, WA (FHA\|USDA\|VA)	1	$85,000	$85,000	$750	5.50%
SALEM, OR (FHA\|USDA\|VA)	1	$75,000	$75,000	$0	4.75%
OLYMPIA-LACEY-TUMWATER, WA (FHA\|USDA\|VA)	1	$65,000	$65,000	$988	5.75%
Ellensburg, WA (FHA\|USDA\|VA)	1	$45,000	$45,000	$0	4.75%

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

Their top states include:

Washington (FHA|USDA|VA)

Oregon (FHA|USDA|VA)

Idaho (FHA|USDA|VA)

Arizona (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.

INROADS
Similarity Rank: 549

Yakima Federal Savings and Loan Association
Similarity Rank: 618

iQ Credit Union
Similarity Rank: 851

Clackamas Federal Credit Union
Similarity Rank: 918

OREGONIANS CREDIT UNION
Similarity Rank: 948

WASHINGTON STATE EMPLOYEES Credit Union
Similarity Rank: 972

CASTPARTS EMPLOYEES
Similarity Rank: 1170

Consolidated Federal Credit Union
Similarity Rank: 1220

First Federal
Similarity Rank: 1240

Solarity Credit Union
Similarity Rank: 1343

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	582	$81,460,000	$139,966	$2,136	4.61%

For 2019, Hapo Community Credit Union's most frequently originated type of loan was Conventional, with 582 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Improvement	197	$16,165,000	$82,056	$1,050	4.83%
Cash Out Refi	127	$18,355,000	$144,528	$2,366	4.64%
Home Purchase	107	$26,905,000	$251,449	$4,089	4.26%
Other	77	$5,425,000	$70,455	$754	5.01%
Refi	74	$14,610,000	$197,432	$3,251	4.06%

For 2019, Hapo Community Credit Union's most frequently cited loan purpose was Home Improvement, with 197 originations. The 2nd most popular reason was Cash Out Refi, with 127 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
15 Year	295	$25,405,000	$86,119	$1,005	4.77%
30 Year	194	$45,860,000	$236,392	$4,055	4.31%
10 Year	64	$4,430,000	$69,219	$927	4.81%
20 Year	24	$4,670,000	$194,583	$3,495	4.27%
1 Year	4	$910,000	$227,500	$3,486	6.50%
Other	1	$185,000	$185,000	$4,908	3.88%

For 2019, Hapo Community Credit Union's most frequently cited loan duration was 15 Year, with 295 originations. The 2nd most popular length was 30 Year, with 194 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	339	$28,915,000	$85,295
$1k-2k	109	$17,525,000	$160,780
$2k-3k	82	$18,590,000	$226,707
$3k-4k	33	$9,805,000	$297,121
$4k-5k	9	$3,015,000	$335,000
$5k+	9	$3,535,000	$392,778

Hapo Community Credit Union's average total fees were $4,055, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 339 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
4-5%	287	$40,785,000	$142,108
5-6%	149	$9,965,000	$66,879
3-4%	136	$29,380,000	$216,029
6-7%	9	$1,215,000	$135,000
2.5-3%	1	$115,000	$115,000

During 2019, Hapo Community Credit Union's average interest rate for loans was 4.31%, while their most frequently originated rate bucket for loans was 4-5%, with 287 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	286	$14,770,000	$51,643	$549	4.98%
$200k-400k	143	$37,405,000	$261,573	$4,128	4.22%
$100k-200k	132	$19,330,000	$146,439	$2,942	4.29%
$400k-600k	20	$9,310,000	$465,500	$5,082	4.23%
$600k-1MM	1	$645,000	$645,000	$9,096	4.75%

2019 saw Hapo Community Credit Union place emphasis on $100,000 or less loans with 286 originations, totaling $14,770,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	141	$20,885,000	$148,121	$2,011	4.65%
$50k-75k	138	$17,110,000	$123,986	$2,141	4.59%
$75k-100k	114	$16,420,000	$144,035	$2,324	4.58%
$150k-250k	88	$14,980,000	$170,227	$2,148	4.74%
$50k or less	87	$8,365,000	$96,149	$2,049	4.53%
$250k+	10	$2,660,000	$266,000	$2,402	4.48%

Hapo Community Credit Union lent most frequently to those with incomes in the $100k-150k range, with 141 originations. The second most popular income band? $50k-75k, with 138 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	154	$20,240,000	$131,429	$2,029	4.62%
30-36%	130	$18,190,000	$139,923	$2,069	4.57%
<20%	57	$7,415,000	$130,088	$2,008	4.45%
42%	34	$4,620,000	$135,882	$1,938	4.64%
43%	27	$5,295,000	$196,111	$3,144	4.41%
38%	27	$3,255,000	$120,556	$1,561	4.88%
37%	26	$2,750,000	$105,769	$1,556	4.82%
41%	25	$4,665,000	$186,600	$3,120	4.64%
39%	23	$3,065,000	$133,261	$2,341	4.73%
44%	21	$3,045,000	$145,000	$2,406	4.54%
36%	19	$2,775,000	$146,053	$2,424	4.47%
40%	19	$1,585,000	$83,421	$1,365	4.91%
46%	7	$1,375,000	$196,429	$2,789	4.70%
45%	4	$960,000	$240,000	$3,633	4.28%
47%	3	$495,000	$165,000	$2,759	4.70%
49%	3	$955,000	$318,333	$3,731	4.92%
48%	2	$410,000	$205,000	$2,311	4.56%
50-60%	1	$365,000	$365,000	$2,200	3.99%

Hapo Community Credit Union lent most frequently to those with DTI ratios of 20-30%, with 154 originations. The next most common DTI ratio? 30-36%, with 130 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	535	$73,525,000	$137,430	$2,093	4.62%
Not provided	31	$5,965,000	$192,419	$2,942	4.38%
Asian	7	$1,095,000	$156,429	$2,515	4.54%
American Indian	4	$500,000	$125,000	$2,611	4.44%
Black	2	$180,000	$90,000	$1,975	4.69%
Asian Indian	1	$115,000	$115,000	$0	4.50%
Native Hawaiian or Islander	2	$80,000	$40,000	$0	5.00%

Approval Rates

Total approvals of all applications
85.89%

Hapo Community Credit Union has an average approval rate.

Pick Rate

Approvals leading to origination
81.79%

Hapo Community Credit Union has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	582	$81,460,000	$139,966

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Single Family (1-4 Units):Manufactured	13	$1,575,000	$121,154
Single Family (1-4 Units):Site-Built	569	$79,885,000	$140,395

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	116	$8,620,000	$74,310	$706	4.83%
40-60%	67	$9,355,000	$139,627	$2,840	4.33%
60-80%	141	$32,255,000	$228,759	$3,896	4.32%
80-100%	92	$24,180,000	$262,826	$3,983	4.20%
Under 20%	166	$7,050,000	$42,470	$343	5.03%