Great Basin Federal Credit Union Mortgage Rates, Fees & Info

Reno, NV

LEI: 2549009M5QY5LPV18B47

Tax ID: 88-0062909

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

    Great Basin Federal Credit Union is a smaller credit union specializing in Refi and Cash Out Refi loans. Great Basin Federal Credit Union has a high proportion of conventional loans. Their top two markets are Reno and Fernley .

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    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






    Your Estimates

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

    This is not an official calculator from Great Basin Federal Credit Union. 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

    116

    Origination Dollar Volume (All Markets)

    $17,880,000

    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
    RENO, NV (FHA|USDA|VA) 112 $17,220,000 $153,750 $3,131 4.03%
    Fernley, NV (FHA|USDA|VA) 4 $660,000 $165,000 $3,217 3.53%
    Great Basin Federal Credit Union's top markets include Reno and Fernley among others.

    Their top states include:
  • Nevada (FHA|USDA|VA)

    • 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.

    Great Basin Federal Credit Union
    Similarity Rank: 168
    SNAPFI, INC.
    Similarity Rank: 420
    ONE NEVADA CREDIT UNION
    Similarity Rank: 847
    INFINITY EQUITY GROUP, INC.
    Similarity Rank: 1584
    WESTCOAST MORTGAGE GROUP AND REALTY COMPANY
    Similarity Rank: 1892
    UNIVERSAL MORTGAGE & FINANCE, INC.
    Similarity Rank: 3105
    SYNERGY HOME MORTGAGE, LLC
    Similarity Rank: 3855
    INTERNATIONAL CITY MORTGAGE, INC.
    Similarity Rank: 3953
    Fremont Bank
    Similarity Rank: 4400
    Glacier Bank
    Similarity Rank: 4641

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 60 $14,520,000 $242,000 $3,135 3.43%
    HELOC 56 $3,360,000 $60,000 n/a 4.63%

    For 2020, Great Basin Federal Credit Union's most frequently originated type of loan was Conventional, with 60 originations. Their 2nd most popular type was HELOC, with 56 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 41 $2,375,000 $57,927 $440 4.66%
    Refi 27 $6,475,000 $239,815 $2,912 3.12%
    Cash Out Refi 22 $6,170,000 $280,455 $3,665 3.28%
    Other 18 $910,000 $50,556 $440 5.02%
    Home Purchase 8 $1,950,000 $243,750 $4,058 3.36%

    For 2020, Great Basin Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 41 originations. The 2nd most popular reason was Refi, with 27 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 39 $1,575,000 $40,385 $2,600 4.56%
    30 Year 37 $9,865,000 $266,622 $3,453 3.26%
    30+ year 19 $2,135,000 $112,368 $0 4.59%
    15 Year 13 $2,005,000 $154,231 $2,215 4.08%
    20 Year 8 $2,300,000 $287,500 $3,292 3.28%

    For 2020, Great Basin Federal Credit Union's most frequently cited loan duration was Other, with 39 originations. The 2nd most popular length was 30 Year, with 37 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 43 $10,325,000 $240,116
    $2k-3k 9 $2,835,000 $315,000
    $<1k 5 $205,000 $41,000
    $4k-5k 2 $720,000 $360,000
    $5k+ 1 $435,000 $435,000

    Great Basin Federal Credit Union's average total fees were $3,453, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 43 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 42 $8,100,000 $192,857
    4-5% 29 $1,975,000 $68,103
    2.5-3% 28 $6,810,000 $243,214
    5-6% 11 $545,000 $49,545
    6-7% 5 $205,000 $41,000
    <2.5% 1 $245,000 $245,000

    During 2020, Great Basin Federal Credit Union's average interest rate for loans was 3.26%, while their most frequently originated rate bucket for loans was 3-4%, with 42 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 55 $2,375,000 $43,182 $868 4.78%
    $200k-400k 37 $10,275,000 $277,703 $3,443 3.24%
    $100k-200k 19 $3,075,000 $161,842 $2,792 3.51%
    $400k-600k 5 $2,155,000 $431,000 $4,791 3.12%

    2020 saw Great Basin Federal Credit Union place emphasis on $100,000 or less loans with 55 originations, totaling $2,375,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 33 $6,025,000 $182,576 $3,036 3.81%
    $150k-250k 24 $3,360,000 $140,000 $3,601 4.26%
    $50k-75k 20 $2,820,000 $141,000 $3,003 4.16%
    $50k or less 18 $1,890,000 $105,000 $2,697 3.97%
    $75k-100k 16 $3,030,000 $189,375 $3,591 3.87%
    $250k+ 5 $755,000 $151,000 $3,780 4.10%

    Great Basin Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 33 originations. The second most popular income band? $150k-250k, with 24 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 40 $6,890,000 $172,250 $3,151 3.85%
    <20% 19 $2,665,000 $140,263 $3,122 3.83%
    30-36% 19 $1,275,000 $67,105 $2,395 4.60%
    41% 6 $1,070,000 $178,333 $4,835 3.81%
    39% 5 $645,000 $129,000 $2,748 3.97%
    43% 5 $1,495,000 $299,000 $4,130 3.90%
    37% 4 $470,000 $117,500 $2,119 4.66%
    47% 3 $365,000 $121,667 $3,876 3.71%
    44% 3 $785,000 $261,667 $2,915 3.29%
    40% 3 $465,000 $155,000 $4,138 3.71%
    42% 2 $570,000 $285,000 $2,690 4.19%
    49% 2 $620,000 $310,000 $3,749 3.06%
    50-60% 1 $15,000 $15,000 $440 6.25%
    36% 1 $35,000 $35,000 $0 5.25%
    38% 1 $215,000 $215,000 $2,577 3.38%
    45% 1 $255,000 $255,000 $3,055 3.63%
    48% 1 $45,000 $45,000 $0 5.00%

    Great Basin Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 40 originations. The next most common DTI ratio? <20%, with 19 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 92 $14,680,000 $159,565 $3,104 3.97%
    Not provided 16 $2,660,000 $166,250 $3,619 3.89%
    Asian 6 $430,000 $71,667 $2,226 4.77%
    Black 1 $85,000 $85,000 $0 3.75%
    American Indian 1 $25,000 $25,000 $0 5.00%

    Approval Rates

    Total approvals of all applications
    82.90%

    Great Basin Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    68.97%

    Great Basin Federal Credit Union 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 116 $17,880,000 $154,138

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 116 $17,880,000 $154,138

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $1,420,000 $177,500 $2,574 3.66%
    40-60% 24 $5,880,000 $245,000 $3,084 3.08%
    60-80% 20 $5,940,000 $297,000 $3,661 3.29%
    80-100% 7 $1,885,000 $269,286 $3,818 3.48%
    Under 20% 57 $2,755,000 $48,333 $1,152 4.77%