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 Home Improvement and Other loans. Great Basin Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Reno, Fernley, Gardnerville Ranchos, and Fallon among others. We have data for 4 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 an average 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 6.84% 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

    181

    Origination Dollar Volume (All Markets)

    $17,535,000

    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) 175 $17,315,000 $98,943 $1,008 5.71%
    Fernley, NV (FHA|USDA|VA) 3 $105,000 $35,000 $220 7.33%
    Gardnerville Ranchos, NV (FHA|USDA|VA) 2 $80,000 $40,000 $440 5.25%
    Fallon, NV (FHA|USDA|VA) 1 $35,000 $35,000 $0 5.00%
    Great Basin Federal Credit Union's top markets include Reno, Fernley, Gardnerville Ranchos, and Fallon 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.

    GREATER NEVADA LLC
    Similarity Rank: 795
    SYNERGY HOME MORTGAGE, LLC
    Similarity Rank: 810
    Operating Engineers Local Union #3
    Similarity Rank: 871
    ONE NEVADA CREDIT UNION
    Similarity Rank: 1608
    STAR ONE CREDIT UNION
    Similarity Rank: 1885
    North American Savings Bank, F.S.B.
    Similarity Rank: 3222
    INFINITY EQUITY GROUP, INC.
    Similarity Rank: 3535
    CLEARPATH LENDING
    Similarity Rank: 4316
    Zions Bank
    Similarity Rank: 5162
    TBI MORTGAGE COMPANY
    Similarity Rank: 5952

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 117 $11,675,000 $99,786 n/a 5.80%
    Conventional 64 $5,860,000 $91,563 $966 5.61%

    For 2022, Great Basin Federal Credit Union's most frequently originated type of loan was HELOC, with 117 originations. Their 2nd most popular type was Conventional, with 64 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 112 $9,890,000 $88,304 $353 5.62%
    Other 59 $4,415,000 $74,831 $172 6.14%
    Home Purchase 6 $2,680,000 $446,667 $6,174 4.75%
    Refi 3 $325,000 $108,333 $3,779 4.62%
    Cash Out Refi 1 $225,000 $225,000 $2,534 3.00%

    For 2022, Great Basin Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 112 originations. The 2nd most popular reason was Other, with 59 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30+ year 62 $8,550,000 $137,903 $0 5.58%
    Other 60 $3,280,000 $54,667 $101 5.98%
    15 Year 52 $2,890,000 $55,577 $376 5.77%
    30 Year 7 $2,815,000 $402,143 $5,967 4.63%

    For 2022, Great Basin Federal Credit Union's most frequently cited loan duration was 30+ year, with 62 originations. The 2nd most popular length was Other, with 60 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 55 $2,705,000 $49,182
    $1k-2k 3 $1,425,000 $475,000
    $2k-3k 3 $625,000 $208,333
    $3k-4k 2 $750,000 $375,000
    $4k-5k 1 $355,000 $355,000

    Great Basin Federal Credit Union's average total fees were $5,967, 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
    4-5% 78 $6,670,000 $85,513
    5-6% 50 $4,990,000 $99,800
    6-7% 23 $2,055,000 $89,348
    7-8% 15 $1,085,000 $72,333
    Over 8% 9 $805,000 $89,444
    3-4% 5 $1,705,000 $341,000
    2.5-3% 1 $225,000 $225,000

    During 2022, Great Basin Federal Credit Union's average interest rate for loans was 4.63%, while their most frequently originated rate bucket for loans was 4-5%, with 78 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 124 $6,560,000 $52,903 $343 5.79%
    $100k-200k 33 $4,045,000 $122,576 $4,145 5.58%
    $200k-400k 22 $5,230,000 $237,727 $5,299 5.76%
    $1MM+ 1 $1,085,000 $1,085,000 $6,818 3.38%
    $600k-1MM 1 $615,000 $615,000 $7,486 5.63%

    2022 saw Great Basin Federal Credit Union place emphasis on $100,000 or less loans with 124 originations, totaling $6,560,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 53 $4,475,000 $84,434 $615 5.69%
    $150k-250k 49 $5,275,000 $107,653 $1,288 5.83%
    $75k-100k 36 $2,690,000 $74,722 $1,289 5.90%
    $250k+ 20 $3,730,000 $186,500 $1,716 5.54%
    $50k-75k 16 $1,010,000 $63,125 $554 5.48%
    $50k or less 7 $355,000 $50,714 $220 5.61%

    Great Basin Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 53 originations. The second most popular income band? $150k-250k, with 49 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 57 $5,415,000 $95,000 $1,083 5.59%
    30-36% 30 $4,110,000 $137,000 $1,464 5.85%
    <20% 20 $1,910,000 $95,500 $1,515 5.29%
    38% 9 $645,000 $71,667 $13 6.47%
    40% 8 $400,000 $50,000 $220 6.34%
    37% 8 $720,000 $90,000 $582 5.63%
    50-60% 6 $410,000 $68,333 $220 6.50%
    36% 6 $710,000 $118,333 $440 5.71%
    41% 6 $840,000 $140,000 $0 5.67%
    43% 6 $760,000 $126,667 $2,659 5.56%
    39% 5 $425,000 $85,000 $0 7.25%
    49% 5 $305,000 $61,000 $0 4.90%
    47% 4 $150,000 $37,500 $440 5.13%
    46% 3 $145,000 $48,333 $0 5.58%
    42% 3 $235,000 $78,333 $0 5.00%
    45% 2 $190,000 $95,000 $440 5.63%
    48% 2 $110,000 $55,000 $440 5.50%
    44% 1 $55,000 $55,000 $0 7.50%

    Great Basin Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 57 originations. The next most common DTI ratio? 30-36%, with 30 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 143 $14,175,000 $99,126 $1,133 5.68%
    Not provided 26 $2,250,000 $86,538 $147 5.95%
    Asian 8 $830,000 $103,750 $0 5.94%
    Asian Indian 2 $160,000 $80,000 $0 5.88%
    Japanese 1 $85,000 $85,000 $0 5.00%
    American Indian 1 $35,000 $35,000 $440 5.25%

    Approval Rates

    Total approvals of all applications
    84.16%

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

    Pick Rate

    Approvals leading to origination
    80.66%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 181 $17,535,000 $96,878

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    181 $17,535,000 $96,878

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 28 $4,950,000 $176,786 $3,893 5.63%
    60-80% 1 $355,000 $355,000 $8,081 5.50%
    80-100% 3 $2,045,000 $681,667 $6,529 4.29%
    Under 20% 149 $10,185,000 $68,356 $267 5.78%