Red Crown Mortgage Rates, Fees & Info

Tulsa, OK

LEI: 549300O86UUZZGSLX538

Tax ID: 73-0581984

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Red Crown is a smaller mortgage company specializing in Cash Out Refi and Home Purchase loans. Red Crown has a high proportion of conventional loans. Their top markets by origination volume include: Tulsa, Oklahoma City, Tahlequah, Fort Smith, and Muskogee among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    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% 5/4/24
    30 Year Conventional Refi 6.43% 5/4/24
    30 Year Cash-out Refi 6.43% 5/4/24
    15 Year Conventional Purchase 6.73% 5/4/24
    15 Year Conventional Refi 5.68% 5/4/24
    15 Year Cash-out Refi 5.68% 5/4/24
    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

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

    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

    104

    Origination Dollar Volume (All Markets)

    $18,230,000

    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) 73 $13,695,000 $187,603 $3,148 3.20%
    Outside of Metro Areas 27 $3,905,000 $144,630 $3,002 3.40%
    OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $195,000 $195,000 $2,993 2.75%
    Tahlequah, OK (FHA|USDA|VA) 1 $195,000 $195,000 $3,036 3.63%
    FORT SMITH, AR-OK (FHA|USDA|VA) 1 $155,000 $155,000 $3,121 3.38%
    Muskogee, OK (FHA|USDA|VA) 1 $85,000 $85,000 $2,776 4.63%
    Red Crown's top markets include Tulsa, Oklahoma City, Tahlequah, Fort Smith, and Muskogee among others.

    Their top states include:
  • Oklahoma (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.

    RED CROWN
    Similarity Rank: 408
    MORTGAGE CLEARING CORPORATION
    Similarity Rank: 437
    OKLAHOMA CENTRAL Credit Union
    Similarity Rank: 456
    SpiritBank
    Similarity Rank: 606
    OKLAHOMA'S
    Similarity Rank: 684
    Tulsa Federal Credit Union
    Similarity Rank: 819
    Central Bank of Oklahoma
    Similarity Rank: 888
    Armstrong Bank
    Similarity Rank: 1247
    TTCU Federal Credit Union
    Similarity Rank: 1430
    Mabrey Bank
    Similarity Rank: 1564

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 104 $18,230,000 $175,288 $3,103 3.27%

    For 2020, Red Crown's most frequently originated type of loan was Conventional, with 104 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 49 $9,235,000 $188,469 $3,117 3.25%
    Home Purchase 29 $5,115,000 $176,379 $3,250 3.40%
    Refi 19 $2,855,000 $150,263 $2,987 3.00%
    Home Improvement 7 $1,025,000 $146,429 $2,712 3.61%

    For 2020, Red Crown's most frequently cited loan purpose was Cash Out Refi, with 49 originations. The 2nd most popular reason was Home Purchase, with 29 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 60 $10,880,000 $181,333 $3,085 3.45%
    15 Year 25 $3,675,000 $147,000 $3,083 2.88%
    20 Year 14 $3,270,000 $233,571 $3,458 3.01%
    10 Year 4 $320,000 $80,000 $2,341 3.63%
    Other 1 $85,000 $85,000 $2,776 4.63%

    For 2020, Red Crown's most frequently cited loan duration was 30 Year, with 60 originations. The 2nd most popular length was 15 Year, with 25 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 99 $16,635,000 $168,030
    $1k-2k 3 $955,000 $318,333
    $2k-3k 2 $640,000 $320,000

    Red Crown's average total fees were $3,085, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 99 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 55 $10,065,000 $183,000
    2.5-3% 44 $7,710,000 $175,227
    4-5% 4 $430,000 $107,500
    5-6% 1 $25,000 $25,000

    During 2020, Red Crown's average interest rate for loans was 3.45%, while their most frequently originated rate bucket for loans was 3-4%, with 55 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 48 $7,480,000 $155,833 $3,021 3.22%
    $200k-400k 30 $7,800,000 $260,000 $3,285 3.20%
    $100,000 or less 23 $1,585,000 $68,913 $2,830 3.49%
    $400k-600k 3 $1,365,000 $455,000 $4,697 3.08%

    2020 saw Red Crown place emphasis on $100k-200k loans with 48 originations, totaling $7,480,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 24 $2,280,000 $95,000 $2,958 3.42%
    $100k-150k 23 $4,305,000 $187,174 $3,008 3.33%
    $50k-75k 20 $3,440,000 $172,000 $3,133 3.22%
    $75k-100k 19 $2,845,000 $149,737 $3,060 3.20%
    $150k-250k 14 $4,020,000 $287,143 $3,437 3.08%
    $250k+ 3 $1,125,000 $375,000 $3,807 3.33%

    Red Crown lent most frequently to those with incomes in the $50k or less range, with 24 originations. The second most popular income band? $100k-150k, with 23 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 29 $5,675,000 $195,690 $3,181 3.34%
    30-36% 25 $4,095,000 $163,800 $3,127 3.15%
    <20% 17 $3,235,000 $190,294 $3,097 3.01%
    40% 6 $980,000 $163,333 $2,893 3.29%
    36% 4 $680,000 $170,000 $3,729 3.13%
    39% 4 $720,000 $180,000 $3,007 3.25%
    44% 4 $570,000 $142,500 $2,489 3.91%
    43% 4 $580,000 $145,000 $2,921 3.00%
    42% 3 $505,000 $168,333 $3,239 3.54%
    38% 2 $360,000 $180,000 $3,044 3.63%
    46% 2 $420,000 $210,000 $3,286 3.25%
    49% 1 $85,000 $85,000 $3,120 4.50%
    41% 1 $55,000 $55,000 $2,799 3.25%
    45% 1 $85,000 $85,000 $2,776 4.63%
    37% 1 $185,000 $185,000 $2,663 3.63%

    Red Crown lent most frequently to those with DTI ratios of 20-30%, with 29 originations. The next most common DTI ratio? 30-36%, with 25 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 83 $15,105,000 $181,988 $3,119 3.26%
    American Indian 13 $1,775,000 $136,538 $2,930 3.40%
    Not provided 5 $925,000 $185,000 $3,430 3.05%
    Asian 3 $425,000 $141,667 $2,880 3.33%

    Approval Rates

    Total approvals of all applications
    79.35%

    Red Crown has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    59.62%

    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 104 $18,230,000 $175,288

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 104 $18,230,000 $175,288

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $570,000 $95,000 $2,898 2.92%
    40-60% 12 $1,540,000 $128,333 $2,967 3.06%
    60-80% 34 $6,910,000 $203,235 $3,291 3.19%
    80-100% 50 $9,150,000 $183,000 $3,075 3.37%
    Under 20% 2 $60,000 $30,000 $2,043 4.50%