Red Crown Mortgage Rates, Fees & Info

Tulsa, OK

LEI: 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 two markets are Tulsa and Austin .

Red Crown 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. 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 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 6.61% 12/16/24
30 Year Conventional Refi 6.43% 12/16/24
30 Year Cash-out Refi 6.43% 12/16/24
15 Year Conventional Purchase 6.73% 12/16/24
15 Year Conventional Refi 5.68% 12/16/24
15 Year Cash-out Refi 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.

Red Crown Mortgage Calculator






Your Estimates

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This is not an official calculator from Red Crown. 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

49

Origination Dollar Volume (All Markets)

$7,295,000

Awards

RED CROWN 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
TULSA, OK (FHA|USDA|VA) 36 $5,270,000 $146,389 $2,666 4.73%
Outside of Metro Areas 12 $1,580,000 $131,667 $2,781 4.58%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $445,000 $445,000 $4,563 4.63%
Red Crown's top markets include Tulsa and Austin among others.

Their top states include:
  • Oklahoma (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • 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.

    Tulsa Federal Credit Union
    Similarity Rank: 42
    RED CROWN
    Similarity Rank: 66
    MORTGAGE CLEARING CORPORATION
    Similarity Rank: 192
    Central Bank of Oklahoma
    Similarity Rank: 294
    TTCU Federal Credit Union
    Similarity Rank: 297
    The First State Bank
    Similarity Rank: 306
    Truity Federal Credit Union
    Similarity Rank: 656
    Mabrey Bank
    Similarity Rank: 748
    American Bank of Oklahoma
    Similarity Rank: 880
    COMMUNICATION
    Similarity Rank: 1040

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 49 $7,295,000 $148,878 $2,733 4.69%

    For 2018, Red Crown's most frequently originated type of loan was Conventional, with 49 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 23 $4,155,000 $180,652 $2,997 4.56%
    Cash Out Refi 15 $1,685,000 $112,333 $2,218 5.18%
    Home Improvement 6 $690,000 $115,000 $2,772 4.31%
    Refi 5 $765,000 $153,000 $3,019 4.33%

    For 2018, Red Crown's most frequently cited loan purpose was Home Purchase, with 23 originations. The 2nd most popular reason was Cash Out Refi, with 15 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 26 $4,640,000 $178,462 $2,982 4.66%
    15 Year 7 $1,025,000 $146,429 $2,705 4.36%
    10 Year 6 $270,000 $45,000 $1,673 5.44%
    20 Year 6 $890,000 $148,333 $2,906 4.46%
    Other 4 $470,000 $117,500 $2,497 4.75%

    For 2018, Red Crown's most frequently cited loan duration was 30 Year, with 26 originations. The 2nd most popular length was 15 Year, with 7 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 49 $7,295,000 $148,878

    Red Crown's average total fees were $2,982, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 49 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 40 $6,770,000 $169,250
    3-4% 4 $320,000 $80,000
    5-6% 4 $160,000 $40,000
    6-7% 1 $45,000 $45,000

    During 2018, Red Crown's average interest rate for loans was 4.66%, while their most frequently originated rate bucket for loans was 4-5%, with 40 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 20 $1,160,000 $58,000 $2,309 4.91%
    $100k-200k 17 $2,365,000 $139,118 $2,767 4.51%
    $200k-400k 9 $2,445,000 $271,667 $3,124 4.57%
    $400k-600k 3 $1,325,000 $441,667 $4,196 4.71%

    2018 saw Red Crown place emphasis on $100,000 or less loans with 20 originations, totaling $1,160,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 11 $1,895,000 $172,273 $2,694 4.83%
    $50k-75k 11 $1,285,000 $116,818 $2,655 4.64%
    $50k or less 9 $545,000 $60,556 $2,727 4.58%
    $75k-100k 9 $1,105,000 $122,778 $2,515 4.58%
    $150k-250k 7 $1,975,000 $282,143 $3,049 4.82%
    $250k+ 2 $490,000 $245,000 $3,285 4.81%

    Red Crown lent most frequently to those with incomes in the $100k-150k range, with 11 originations. The second most popular income band? $50k-75k, with 11 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 17 $2,185,000 $128,529 $2,693 4.71%
    30-36% 14 $2,220,000 $158,571 $2,725 4.78%
    <20% 5 $615,000 $123,000 $2,809 4.50%
    38% 3 $615,000 $205,000 $2,465 4.50%
    41% 2 $320,000 $160,000 $3,119 4.63%
    36% 2 $270,000 $135,000 $2,912 4.75%
    47% 1 $275,000 $275,000 $3,515 4.25%
    37% 1 $25,000 $25,000 $1,202 6.00%
    42% 1 $165,000 $165,000 $2,734 4.75%

    Red Crown lent most frequently to those with DTI ratios of 20-30%, with 17 originations. The next most common DTI ratio? 30-36%, with 14 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 41 $6,415,000 $156,463 $2,738 4.71%
    American Indian 5 $605,000 $121,000 $2,756 4.75%
    Not provided 2 $180,000 $90,000 $2,650 4.38%
    Black 1 $95,000 $95,000 $2,581 4.25%

    Approval Rates

    Total approvals of all applications
    86.42%

    Red Crown has an average approval rate.

    Pick Rate

    Approvals leading to origination
    57.14%

    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 49 $7,295,000 $148,878

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 2 $310,000 $155,000
    Single Family (1-4 Units):Site-Built 47 $6,985,000 $148,617

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $365,000 $73,000 $2,807 4.10%
    40-60% 4 $510,000 $127,500 $2,814 4.56%
    60-80% 17 $2,605,000 $153,235 $2,797 4.58%
    80-100% 17 $3,505,000 $206,176 $3,099 4.58%
    Under 20% 5 $205,000 $41,000 $1,122 6.15%