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, and Miami among others. We have data for 4 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

    55

    Origination Dollar Volume (All Markets)

    $10,985,000

    Awards

    RED CROWN 30 Year Conventional Loans gold RED CROWN 30 Year Conventional Loans gold
    Show all (2) 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) 39 $8,275,000 $212,179 $3,534 4.48%
    Outside of Metro Areas 14 $2,380,000 $170,000 $3,291 4.95%
    OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $235,000 $235,000 $3,568 5.38%
    Miami, OK (FHA|USDA|VA) 1 $95,000 $95,000 $2,755 3.50%
    Red Crown's top markets include Tulsa, Oklahoma City, and Miami 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: 52
    MORTGAGE CLEARING CORPORATION
    Similarity Rank: 65
    OKLAHOMA CENTRAL Credit Union
    Similarity Rank: 632
    SpiritBank
    Similarity Rank: 684
    Tulsa Federal Credit Union
    Similarity Rank: 700
    TTCU Federal Credit Union
    Similarity Rank: 750
    Tinker Federal Credit Union
    Similarity Rank: 798
    Armstrong Bank
    Similarity Rank: 1180
    VILLAGE CAPITAL MORTGAGE
    Similarity Rank: 1188
    Firstar Bank
    Similarity Rank: 1430

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 55 $10,985,000 $199,727 $3,459 4.60%

    For 2022, Red Crown's most frequently originated type of loan was Conventional, with 55 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 26 $5,020,000 $193,077 $3,513 4.24%
    Home Purchase 25 $5,035,000 $201,400 $3,529 4.78%
    Home Improvement 2 $390,000 $195,000 $2,757 6.81%
    Refi 2 $540,000 $270,000 $2,580 4.81%

    For 2022, Red Crown's most frequently cited loan purpose was Cash Out Refi, with 26 originations. The 2nd most popular reason was Home Purchase, with 25 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 44 $10,310,000 $234,318 $3,670 4.55%
    10 Year 6 $250,000 $41,667 $2,130 4.73%
    15 Year 4 $380,000 $95,000 $3,252 5.13%
    20 Year 1 $45,000 $45,000 $2,943 3.75%

    For 2022, Red Crown's most frequently cited loan duration was 30 Year, with 44 originations. The 2nd most popular length was 10 Year, with 6 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 55 $10,985,000 $199,727

    Red Crown's average total fees were $3,670, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 55 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 24 $4,660,000 $194,167
    5-6% 10 $1,920,000 $192,000
    4-5% 9 $1,715,000 $190,556
    6-7% 6 $1,620,000 $270,000
    2.5-3% 3 $735,000 $245,000
    7-8% 2 $290,000 $145,000
    Over 8% 1 $45,000 $45,000

    During 2022, Red Crown's average interest rate for loans was 4.55%, while their most frequently originated rate bucket for loans was 3-4%, with 24 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 24 $3,480,000 $145,000 $3,403 4.57%
    $200k-400k 13 $3,855,000 $296,538 $3,872 4.74%
    $100,000 or less 12 $650,000 $54,167 $2,730 4.54%
    $400k-600k 4 $1,760,000 $440,000 $3,929 4.31%
    $600k-1MM 2 $1,240,000 $620,000 $4,870 4.94%

    2022 saw Red Crown place emphasis on $100k-200k loans with 24 originations, totaling $3,480,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 14 $2,210,000 $157,857 $3,345 4.18%
    $50k or less 12 $1,130,000 $94,167 $3,167 4.73%
    $100k-150k 10 $2,470,000 $247,000 $3,493 4.48%
    $150k-250k 8 $2,570,000 $321,250 $3,720 4.69%
    $75k-100k 8 $1,400,000 $175,000 $3,566 4.86%
    $250k+ 2 $1,040,000 $520,000 $4,436 6.69%

    Red Crown lent most frequently to those with incomes in the $50k-75k range, with 14 originations. The second most popular income band? $50k or less, with 12 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 12 $3,090,000 $257,500 $3,675 4.71%
    30-36% 10 $1,890,000 $189,000 $3,479 5.06%
    <20% 7 $945,000 $135,000 $3,048 3.75%
    38% 5 $1,475,000 $295,000 $3,659 4.05%
    44% 3 $325,000 $108,333 $3,174 3.88%
    39% 3 $385,000 $128,333 $3,160 3.33%
    40% 3 $625,000 $208,333 $3,453 5.79%
    41% 2 $290,000 $145,000 $3,531 5.63%
    45% 2 $400,000 $200,000 $3,601 4.13%
    46% 2 $270,000 $135,000 $4,912 6.06%
    50-60% 2 $840,000 $420,000 $4,089 4.63%
    >60% 1 $15,000 $15,000 $664 6.00%
    42% 1 $165,000 $165,000 $3,403 4.88%
    36% 1 $165,000 $165,000 $3,312 3.25%
    47% 1 $105,000 $105,000 $2,705 5.38%

    Red Crown lent most frequently to those with DTI ratios of 20-30%, with 12 originations. The next most common DTI ratio? 30-36%, with 10 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 47 $9,375,000 $199,468 $3,507 4.58%
    American Indian 5 $1,195,000 $239,000 $3,508 4.73%
    Black 3 $415,000 $138,333 $2,622 4.75%

    Approval Rates

    Total approvals of all applications
    79.80%

    Red Crown has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    56.36%

    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 55 $10,985,000 $199,727

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    55 $10,985,000 $199,727

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $430,000 $71,667 $3,720 4.33%
    40-60% 5 $1,215,000 $243,000 $4,090 5.23%
    60-80% 14 $3,070,000 $219,286 $3,441 4.05%
    80-100% 26 $6,080,000 $233,846 $3,557 4.55%
    Under 20% 4 $190,000 $47,500 $1,706 6.44%