Gulf Winds Credit Union Mortgage Rates, Fees & Info

Pensacola, FL

LEI: 254900N33AYNKI4VCV72

Tax ID: 59-6143861

5 stars - Updated: 12/16/24 - out of 5 stars, based on 19 reviews

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Gulf Winds Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Gulf Winds Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Pensacola, Tallahassee, Daphne, Atmore, and Crestview among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Gulf Winds 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. Gulf Winds 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 relatively high 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
    Home Equity Line of Credit (HELOC) 6.27% 12/16/24
    30 Year Conventional Purchase 6.57% 12/16/24
    30 Year Conventional Refi 6.13% 12/16/24
    30 Year Cash-out Refi 6.59% 12/16/24
    30 Year VA Purchase 6.27% 12/16/24
    30 Year VA Refi 6.27% 12/16/24
    30 Year USDA Purchase 6.27% 12/16/24
    30 Year USDA Refi 6.27% 12/16/24
    15 Year Conventional Purchase 5.85% 12/16/24
    15 Year Conventional Refi 5.96% 12/16/24
    15 Year Cash-out Refi 5.96% 12/16/24
    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.

    Gulf Winds Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Gulf Winds 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

    361

    Origination Dollar Volume (All Markets)

    $50,665,000

    Awards

    Gulf Winds Credit Union 30 Year Conventional Loans gold Gulf Winds Credit Union 30 Year Conventional Loans bronze Gulf Winds Credit Union 30 Year Conventional Loans gold Gulf Winds Credit Union 30 Year Conventional Loans gold
    Show all (4) awards

    Relative Rate

    Gulf Winds Credit Union's average 30 year fixed mortgage rate was 6.69%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of 0.21%.

    Relative Fees (Closing Costs)

    Gulf Winds Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $3,487.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

    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
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 252 $34,680,000 $137,619 $1,481 6.61%
    Outside of Metro Areas 12 $3,040,000 $253,333 $2,491 6.52%
    TALLAHASSEE, FL (FHA|USDA|VA) 31 $2,935,000 $94,677 $952 6.31%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 19 $2,645,000 $139,211 $1,025 6.81%
    Atmore, AL (FHA|USDA|VA) 25 $2,215,000 $88,600 $966 6.49%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 6 $1,960,000 $326,667 $2,519 6.01%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $670,000 $335,000 $5,641 7.00%
    MOBILE, AL (FHA|USDA|VA) 3 $525,000 $175,000 $981 5.85%
    MONTGOMERY, AL (FHA|USDA|VA) 2 $470,000 $235,000 $2,790 7.88%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $375,000 $375,000 $3,870 5.28%
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $355,000 $355,000 $2,511 5.44%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $325,000 $325,000 $2,435 5.59%
    DOTHAN, AL (FHA|USDA|VA) 3 $165,000 $55,000 $1,115 5.86%
    Thomasville, GA (FHA|USDA|VA) 1 $135,000 $135,000 $3,087 5.70%
    Ozark, AL (FHA|USDA|VA) 1 $125,000 $125,000 $2,716 4.65%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $45,000 $45,000 $345 7.05%
    Gulf Winds Credit Union's top markets include Pensacola, Tallahassee, Daphne, Atmore, and Crestview among others.

    Their top states include:
  • Florida (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Gulf Winds Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    MORTGAGE ONE OF THE SOUTH, INC.
    Similarity Rank: 42
    Gulf Winds Credit Union
    Similarity Rank: 80
    FIRST COMMERCE CREDIT UNION
    Similarity Rank: 138
    Envision Credit Union
    Similarity Rank: 240
    DSLD MORTGAGE, LLC
    Similarity Rank: 342
    HARVESTERS FEDERAL CREDIT UNION
    Similarity Rank: 504
    Pen Air Federal Credit Union
    Similarity Rank: 741
    FIRST FLORIDA Credit Union
    Similarity Rank: 851
    INSPIRE HOME LOANS INC.
    Similarity Rank: 1352
    HOMETRUST MORTGAGE COMPANY
    Similarity Rank: 1400

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 314 $45,310,000 $144,299 $1,456 6.15%
    HELOC 47 $5,355,000 $113,936 n/a 9.27%

    For 2023, Gulf Winds Credit Union's most frequently originated type of loan was Conventional, with 314 originations. Their 2nd most popular type was HELOC, with 47 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 280 $26,370,000 $94,179 $852 6.81%
    Home Purchase 69 $20,985,000 $304,130 $3,381 5.57%
    Refi 11 $3,245,000 $295,000 $2,239 5.84%
    Home Improvement 1 $65,000 $65,000 $0 9.75%

    For 2023, Gulf Winds Credit Union's most frequently cited loan purpose was Cash Out Refi, with 280 originations. The 2nd most popular reason was Home Purchase, with 69 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 194 $11,730,000 $60,464 $365 6.52%
    30 Year 157 $38,625,000 $246,019 $3,487 6.69%
    5 Year 10 $310,000 $31,000 $292 5.03%

    For 2023, Gulf Winds Credit Union's most frequently cited loan duration was Other, with 194 originations. The 2nd most popular length was 30 Year, with 157 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 310 $43,350,000 $139,839
    $2k-3k 3 $1,345,000 $448,333
    $1k-2k 1 $615,000 $615,000

    Gulf Winds Credit Union's average total fees were $3,487, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 310 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 119 $18,385,000 $154,496
    Over 8% 74 $7,080,000 $95,676
    6-7% 68 $9,300,000 $136,765
    4-5% 52 $12,500,000 $240,385
    7-8% 48 $3,400,000 $70,833

    During 2023, Gulf Winds Credit Union's average interest rate for loans was 6.69%, while their most frequently originated rate bucket for loans was 5-6%, with 119 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 213 $11,155,000 $52,371 $420 6.68%
    $200k-400k 65 $18,075,000 $278,077 $3,285 5.91%
    $100k-200k 63 $8,815,000 $139,921 $1,920 7.15%
    $400k-600k 12 $6,050,000 $504,167 $4,757 5.35%
    $600k-1MM 6 $4,160,000 $693,333 $5,152 5.62%
    $1MM+ 2 $2,410,000 $1,205,000 $6,068 5.12%

    2023 saw Gulf Winds Credit Union place emphasis on $100,000 or less loans with 213 originations, totaling $11,155,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 109 $14,845,000 $136,193 $1,315 6.68%
    $75k-100k 67 $7,195,000 $107,388 $1,169 6.54%
    $50k-75k 66 $6,840,000 $103,636 $1,494 6.55%
    $150k-250k 56 $10,560,000 $188,571 $1,945 6.83%
    $50k or less 44 $2,600,000 $59,091 $870 6.06%
    $250k+ 19 $8,625,000 $453,947 $3,293 6.22%

    Gulf Winds Credit Union lent most frequently to those with incomes in the $100k-150k range, with 109 originations. The second most popular income band? $75k-100k, with 67 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 69 $7,935,000 $115,000 $1,076 6.46%
    20-30% 62 $9,460,000 $152,581 $1,403 6.32%
    <20% 21 $2,345,000 $111,667 $935 6.57%
    49% 20 $2,330,000 $116,500 $1,533 7.35%
    43% 19 $1,835,000 $96,579 $1,102 6.49%
    39% 18 $2,990,000 $166,111 $1,826 7.09%
    41% 17 $2,445,000 $143,824 $1,759 6.80%
    47% 17 $1,085,000 $63,824 $699 6.63%
    38% 17 $3,015,000 $177,353 $2,060 6.10%
    44% 16 $2,440,000 $152,500 $1,701 6.43%
    40% 15 $2,655,000 $177,000 $1,821 6.37%
    45% 15 $2,245,000 $149,667 $1,699 6.97%
    42% 13 $2,275,000 $175,000 $1,528 6.25%
    37% 11 $2,085,000 $189,545 $1,722 6.13%
    36% 11 $1,305,000 $118,636 $1,150 7.39%
    46% 8 $1,630,000 $203,750 $2,959 6.33%
    48% 8 $1,660,000 $207,500 $2,199 6.35%
    50-60% 4 $930,000 $232,500 $2,907 6.45%

    Gulf Winds Credit Union lent most frequently to those with DTI ratios of 30-36%, with 69 originations. The next most common DTI ratio? 20-30%, with 62 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 289 $39,715,000 $137,422 $1,431 6.54%
    Not provided 41 $6,085,000 $148,415 $1,553 6.66%
    Black 18 $1,550,000 $86,111 $1,202 6.88%
    Asian 2 $1,280,000 $640,000 $3,358 6.25%
    American Indian 8 $1,260,000 $157,500 $1,622 5.39%
    Other Asian 1 $525,000 $525,000 $4,575 5.43%
    Asian Indian 1 $205,000 $205,000 $0 8.50%
    Filipino 1 $45,000 $45,000 $505 9.54%

    Approval Rates

    Total approvals of all applications
    88.04%

    Gulf Winds Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    -26.04%

    Gulf Winds 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 361 $50,665,000 $140,346

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    361 $50,665,000 $140,346

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 95 $8,295,000 $87,316 $570 6.85%
    40-60% 36 $6,430,000 $178,611 $1,884 6.91%
    60-80% 37 $12,835,000 $346,892 $3,898 5.75%
    80-100% 54 $16,270,000 $301,296 $3,353 5.62%
    Under 20% 139 $6,835,000 $49,173 $382 6.83%