Gulf Winds Credit Union Mortgage Rates, Fees & Info

Pensacola, FL

LEI: 254900N33AYNKI4VCV72

Tax ID: 59-6143861

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Mortgage Data

Review & Overview

Gulf Winds Credit Union is a smaller credit union specializing in Cash Out Refi, 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, Atmore, Daphne, and Crestview among others. We have data for 8 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 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
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

420

Origination Dollar Volume (All Markets)

$55,020,000

Awards

Gulf Winds Credit Union 30 Year Conventional Loans silver Gulf Winds Credit Union 30 Year Conventional Loans bronze
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
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 299 $40,035,000 $133,896 $2,962 3.51%
Outside of Metro Areas 55 $8,025,000 $145,909 $2,985 3.44%
TALLAHASSEE, FL (FHA|USDA|VA) 28 $3,000,000 $107,143 $2,816 3.46%
Atmore, AL (FHA|USDA|VA) 24 $2,510,000 $104,583 $2,416 3.40%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 10 $1,230,000 $123,000 $2,346 3.66%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $130,000 $65,000 $3,180 3.25%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $65,000 $65,000 $2,984 3.13%
MOBILE, AL (FHA|USDA|VA) 1 $25,000 $25,000 $0 4.75%
Gulf Winds Credit Union's top markets include Pensacola, Tallahassee, Atmore, Daphne, and Crestview among others.

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

    Eglin Federal Credit Union
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 380 $52,300,000 $137,632 $2,912 3.36%
    HELOC 40 $2,720,000 $68,000 n/a 4.83%

    For 2020, Gulf Winds Credit Union's most frequently originated type of loan was Conventional, with 380 originations. Their 2nd most popular type was HELOC, with 40 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 273 $25,665,000 $94,011 $2,782 3.70%
    Refi 97 $17,855,000 $184,072 $2,772 3.06%
    Home Purchase 50 $11,500,000 $230,000 $3,454 3.23%

    For 2020, Gulf Winds Credit Union's most frequently cited loan purpose was Cash Out Refi, with 273 originations. The 2nd most popular reason was Refi, with 97 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 170 $32,710,000 $192,412 $3,028 3.31%
    Other 102 $5,530,000 $54,216 $0 3.96%
    15 Year 75 $11,265,000 $150,200 $2,678 2.91%
    20 Year 50 $4,630,000 $92,600 $2,820 4.52%
    5 Year 23 $885,000 $38,478 $0 2.59%

    For 2020, Gulf Winds Credit Union's most frequently cited loan duration was 30 Year, with 170 originations. The 2nd most popular length was Other, with 102 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 344 $45,560,000 $132,442
    $1k-2k 25 $4,175,000 $167,000
    $2k-3k 8 $1,110,000 $138,750
    $3k-4k 1 $315,000 $315,000
    $4k-5k 1 $345,000 $345,000
    $5k+ 1 $795,000 $795,000

    Gulf Winds Credit Union's average total fees were $3,028, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 344 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 178 $25,520,000 $143,371
    2.5-3% 143 $22,415,000 $156,748
    4-5% 55 $4,545,000 $82,636
    5-6% 23 $1,555,000 $67,609
    <2.5% 15 $805,000 $53,667
    6-7% 5 $145,000 $29,000
    7-8% 1 $35,000 $35,000

    During 2020, Gulf Winds Credit Union's average interest rate for loans was 3.31%, while their most frequently originated rate bucket for loans was 3-4%, with 178 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 186 $9,530,000 $51,237 $2,431 3.84%
    $100k-200k 156 $22,760,000 $145,897 $2,713 3.20%
    $200k-400k 69 $18,105,000 $262,391 $3,150 3.31%
    $400k-600k 7 $3,195,000 $456,429 $4,458 3.00%
    $600k-1MM 2 $1,430,000 $715,000 $23,225 3.75%

    2020 saw Gulf Winds Credit Union place emphasis on $100,000 or less loans with 186 originations, totaling $9,530,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 116 $12,440,000 $107,241 $2,597 3.48%
    $75k-100k 95 $12,675,000 $133,421 $2,907 3.50%
    $100k-150k 87 $13,115,000 $150,747 $3,096 3.53%
    $50k or less 66 $5,950,000 $90,152 $2,553 3.45%
    $150k-250k 45 $6,985,000 $155,222 $2,982 3.49%
    $250k+ 10 $3,340,000 $334,000 $7,572 3.74%

    Gulf Winds Credit Union lent most frequently to those with incomes in the $50k-75k range, with 116 originations. The second most popular income band? $75k-100k, with 95 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 126 $15,620,000 $123,968 $2,756 3.35%
    30-36% 76 $11,910,000 $156,711 $3,340 3.47%
    <20% 63 $9,185,000 $145,794 $2,897 3.24%
    39% 19 $2,405,000 $126,579 $2,920 3.35%
    40% 17 $2,155,000 $126,765 $2,829 3.68%
    42% 14 $1,680,000 $120,000 $3,014 3.85%
    37% 14 $2,100,000 $150,000 $3,068 3.73%
    38% 14 $1,770,000 $126,429 $2,473 3.63%
    43% 14 $1,580,000 $112,857 $2,640 3.73%
    41% 10 $1,080,000 $108,000 $2,803 3.70%
    36% 9 $765,000 $85,000 $2,652 3.90%
    45% 9 $735,000 $81,667 $2,495 4.07%
    47% 9 $995,000 $110,556 $3,034 3.50%
    48% 7 $1,205,000 $172,143 $3,041 3.66%
    49% 7 $515,000 $73,571 $3,938 4.39%
    46% 4 $420,000 $105,000 $2,885 4.28%
    50-60% 4 $350,000 $87,500 $2,640 3.44%
    44% 4 $550,000 $137,500 $2,555 4.13%

    Gulf Winds Credit Union lent most frequently to those with DTI ratios of 20-30%, with 126 originations. The next most common DTI ratio? 30-36%, with 76 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 355 $46,695,000 $131,535 $2,924 3.50%
    Not provided 43 $5,395,000 $125,465 $2,758 3.54%
    Asian 8 $1,440,000 $180,000 $3,665 3.30%
    Black 9 $915,000 $101,667 $2,653 3.49%
    American Indian 3 $235,000 $78,333 $2,402 3.58%
    Other Pacific Islander 1 $195,000 $195,000 $3,147 3.00%
    Filipino 1 $145,000 $145,000 $2,301 3.25%

    Approval Rates

    Total approvals of all applications
    83.76%

    Gulf Winds Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    21.90%

    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 420 $55,020,000 $131,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 420 $55,020,000 $131,000

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 78 $5,720,000 $73,333 $2,720 3.83%
    40-60% 70 $8,580,000 $122,571 $2,654 3.24%
    60-80% 121 $22,625,000 $186,983 $3,087 3.15%
    80-100% 75 $15,415,000 $205,533 $2,834 3.42%
    Under 20% 76 $2,680,000 $35,263 $0 4.03%