Great Basin Federal Credit Union Mortgage Rates, Fees & Info
Reno, NVLEI: 2549009M5QY5LPV18B47
Tax ID: 88-0062909
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Mortgage Data
Review & Overview
Great Basin Federal Credit Union is a smaller credit union specializing in Home Improvement and Home Purchase loans. Great Basin Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Reno, Carson City, Hanford, and Fernley among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Great Basin Federal 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. Great Basin Federal 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.84% | 11/21/24 |
| 30 Year Conventional Refi | 6.78% | 11/21/24 |
| 15 Year Conventional Refi | 6.85% | 11/21/24 |
| 15 Year Cash-out Refi | 6.85% | 11/21/24 |
| 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. | ||
Great Basin Federal Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
124Origination Dollar Volume (All Markets)
$10,590,000Top 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 |
|---|---|---|---|---|---|
| RENO, NV (FHA|USDA|VA) | 111 | $9,565,000 | $86,171 | $1,737 | 5.52% |
| CARSON CITY, NV (FHA|USDA|VA) | 3 | $445,000 | $148,333 | $2,066 | 5.25% |
| Outside of Metro Areas | 6 | $410,000 | $68,333 | $400 | 5.92% |
| HANFORD-CORCORAN, CA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,128 | 4.63% |
| Fernley, NV (FHA|USDA|VA) | 3 | $65,000 | $21,667 | $400 | 6.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Great Basin Federal Credit Union 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 |
|---|---|---|---|---|---|
| HELOC | 71 | $4,355,000 | $61,338 | n/a | 5.38% |
| Conventional | 53 | $6,235,000 | $117,642 | $1,635 | 5.75% |
For 2018, Great Basin Federal Credit Union's most frequently originated type of loan was HELOC, with 71 originations. Their 2nd most popular type was Conventional, with 53 originations.
Loan Reason
For 2018, Great Basin Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 63 originations. The 2nd most popular reason was Other, with 39 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 15 Year | 79 | $3,155,000 | $39,937 | $511 | 5.76% |
| 30 Year | 45 | $7,435,000 | $165,222 | $3,758 | 5.14% |
For 2018, Great Basin Federal Credit Union's most frequently cited loan duration was 15 Year, with 79 originations. The 2nd most popular length was 30 Year, with 45 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 33 | $1,445,000 | $43,788 |
| $1k-2k | 15 | $3,775,000 | $251,667 |
| $3k-4k | 3 | $705,000 | $235,000 |
| $2k-3k | 1 | $265,000 | $265,000 |
Great Basin Federal Credit Union's average total fees were $3,758, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 33 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 66 | $4,190,000 | $63,485 |
| 4-5% | 33 | $5,305,000 | $160,758 |
| 6-7% | 25 | $1,095,000 | $43,800 |
During 2018, Great Basin Federal Credit Union's average interest rate for loans was 5.14%, while their most frequently originated rate bucket for loans was 5-6%, with 66 originations.
Loan Sizing
2018 saw Great Basin Federal Credit Union place emphasis on $100,000 or less loans with 88 originations, totaling $3,740,000 in origination value.
Applicant Income
Great Basin Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 45 originations. The second most popular income band? $150k-250k, with 24 originations.
Applicant Debt to Income Ratio
Great Basin Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 36 originations. The next most common DTI ratio? <20%, with 22 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications75.77%
Great Basin Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination70.97%
Great Basin Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 124 | $10,590,000 | $85,403 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 124 | $10,590,000 | $85,403 |