Government Employees Federal Credit Union Mortgage Rates, Fees & Info

Austin, TX

LEI: 5493005O0QVSV3RWRR20

Tax ID: 74-0650996

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

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