Government Employees Federal Credit Union Mortgage Rates, Fees & Info

Austin, TX

LEI: 5493005O0QVSV3RWRR20

Tax ID: 74-0650996

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Mortgage Data

Review & Overview

Government Employees Federal Credit Union is a smaller credit union specializing in Cash Out Refi loans. Government Employees Federal Credit Union has a high proportion of conventional loans. Their top (well, only) market is Austin.

Government Employees Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

79

Origination Dollar Volume (All Markets)

$9,295,000

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
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 76 $8,970,000 $118,026 $0 4.05%
Outside of Metro Areas 3 $325,000 $108,333 $0 3.75%
Government Employees Federal Credit Union's top markets include and Austin among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 79 $9,295,000 $117,658 $0 4.04%

    For 2020, Government Employees Federal Credit Union's most frequently originated type of loan was Conventional, with 79 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 79 $9,295,000 $117,658 $0 4.04%

    For 2020, Government Employees Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 79 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 79 $9,295,000 $117,658 $0 4.04%

    For 2020, Government Employees Federal Credit Union's most frequently cited loan duration was Other, with 79 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 44 $4,680,000 $106,364
    4-5% 26 $3,530,000 $135,769
    5-6% 3 $455,000 $151,667
    2.5-3% 2 $60,000 $30,000
    6-7% 2 $350,000 $175,000
    7-8% 2 $220,000 $110,000

    During 2020, Government Employees Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 44 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 40 $2,490,000 $62,250 $0 3.79%
    $100k-200k 27 $4,125,000 $152,778 $0 4.33%
    $200k-400k 12 $2,680,000 $223,333 $0 4.22%

    2020 saw Government Employees Federal Credit Union place emphasis on $100,000 or less loans with 40 originations, totaling $2,490,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 21 $2,815,000 $134,048 $0 3.98%
    $50k-75k 21 $2,385,000 $113,571 $0 4.42%
    $75k-100k 17 $2,085,000 $122,647 $0 3.88%
    $50k or less 11 $1,045,000 $95,000 $0 4.10%
    $150k-250k 8 $810,000 $101,250 $0 3.56%
    $250k+ 1 $155,000 $155,000 $0 3.25%

    Government Employees Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 21 originations. The second most popular income band? $50k-75k, with 21 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 21 $2,285,000 $108,810 $0 4.17%
    20-30% 15 $1,485,000 $99,000 $0 3.93%
    <20% 9 $975,000 $108,333 $0 3.53%
    50-60% 8 $1,200,000 $150,000 $0 3.69%
    39% 5 $515,000 $103,000 $0 3.55%
    44% 3 $385,000 $128,333 $0 4.75%
    36% 3 $375,000 $125,000 $0 3.67%
    48% 3 $575,000 $191,667 $0 4.22%
    >60% 2 $300,000 $150,000 $0 4.50%
    37% 2 $280,000 $140,000 $0 4.20%
    42% 2 $200,000 $100,000 $0 4.00%
    47% 2 $220,000 $110,000 $0 5.00%
    38% 1 $55,000 $55,000 $0 7.25%
    43% 1 $205,000 $205,000 $0 4.50%
    41% 1 $65,000 $65,000 $0 4.25%
    45% 1 $175,000 $175,000 $0 4.50%

    Government Employees Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 21 originations. The next most common DTI ratio? 20-30%, with 15 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 44 $5,300,000 $120,455 $0 3.92%
    Not provided 26 $2,780,000 $106,923 $0 4.09%
    Black 6 $770,000 $128,333 $0 4.79%
    Asian 2 $320,000 $160,000 $0 4.25%
    American Indian 1 $125,000 $125,000 $0 3.50%

    Approval Rates

    Total approvals of all applications
    100.00%

    Government Employees Federal Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    86.08%

    Government Employees Federal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 79 $9,295,000 $117,658

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 79 $9,295,000 $117,658