Red Crown Mortgage Rates, Fees & Info
Tulsa, OKLEI: 549300O86UUZZGSLX538
Tax ID: 73-0581984
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Mortgage Data
Review & Overview
Red Crown is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Red Crown has a high proportion of conventional loans. Their top (well, only) market is Tulsa.Red Crown has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Red Crown 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.20% | 4/5/25 |
| 30 Year Conventional Refi | 7.65% | 4/5/25 |
| 30 Year Cash-out Refi | 7.31% | 4/5/25 |
| 15 Year Conventional Purchase | 6.88% | 4/5/25 |
| 15 Year Conventional Refi | 6.82% | 4/5/25 |
| 15 Year Cash-out Refi | 6.82% | 4/5/25 |
| 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. | ||
Red Crown Mortgage Calculator
Your Estimates
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This is not an official calculator from Red Crown. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
19Origination Dollar Volume (All Markets)
$3,025,000Relative Rate
Red Crown's average 30 year fixed mortgage rate was
7.19%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.64%.
Relative Fees (Closing Costs)
Red Crown's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,804.
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 $8,356.
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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 10 | $1,700,000 | $170,000 | $3,397 | 7.38% |
| TULSA, OK (FHA|USDA|VA) | 9 | $1,325,000 | $147,222 | $3,175 | 7.18% |
Similar Lenders
We use machine learning to identify the top lenders compared against RED CROWN based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 19 | $3,025,000 | $159,211 | $3,292 | 7.28% |
For 2024, Red Crown's most frequently originated type of loan was Conventional, with 19 originations.
Loan Reason
For 2024, Red Crown's most frequently cited loan purpose was Home Purchase, with 8 originations. The 2nd most popular reason was Cash Out Refi, with 8 originations.
Loan Duration/Length
For 2024, Red Crown's most frequently cited loan duration was 30 Year, with 10 originations. The 2nd most popular length was 10 Year, with 4 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 19 | $3,025,000 | $159,211 |
Red Crown's average total fees were $3,804, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 19 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 9 | $1,965,000 | $218,333 |
| 6-7% | 7 | $895,000 | $127,857 |
| Over 8% | 3 | $165,000 | $55,000 |
During 2024, Red Crown's average interest rate for loans was 7.19%, while their most frequently originated rate bucket for loans was 7-8%, with 9 originations.
Loan Sizing
2024 saw Red Crown place emphasis on $100,000 or less loans with 8 originations, totaling $470,000 in origination value.
Applicant Income
Red Crown lent most frequently to those with incomes in the $50k-75k range, with 6 originations. The second most popular income band? $100k-150k, with 5 originations.
Applicant Debt to Income Ratio
Red Crown lent most frequently to those with DTI ratios of 30-36%, with 7 originations. The next most common DTI ratio? 38%, with 3 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications66.67%
Red Crown has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination42.11%
Red Crown 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 | 19 | $3,025,000 | $159,211 |