Gulf Coast Educators Federal Credit Union Mortgage Rates, Fees & Info

Pasadena, TX

LEI: 549300HC2W2SFF3LU356

Tax ID: 74-1109899

3.6 stars - out of 5 stars, based on 21 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Gulf Coast Educators Federal Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. Gulf Coast Educators Federal Credit Union has a high proportion of conventional loans. Their top markets include Houston, Dallas, San Antonio, Brenham, and College Station among others. Gulf Coast Educators Federal Credit Union has an above average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors. Gulf Coast Educators Federal Credit Union is typically an average fee lendor.


Originations

439

Origination Dollar Volume (All Markets)

$87,235,000

Relative Rate

Gulf Coast Educators Federal Credit Union's average 30 year fixed rate mortgage of loans were 3.4%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.25%.

Relative Fees

Gulf Coast Educators Federal Credit Union's average total fees for a 30 year fixed rate mortgage are $5,393.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 411 $80,975,000 $197,019 $4,551 3.50%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 6 $1,800,000 $300,000 $5,646 3.53%
Outside of Metro Areas 5 $1,235,000 $247,000 $6,861 3.17%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 3 $685,000 $228,333 $4,855 2.88%
Brenham, TX (FHA|USDA|VA) 1 $365,000 $365,000 $5,735 2.88%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $295,000 $295,000 $6,354 3.75%
ABILENE, TX (FHA|USDA|VA) 1 $285,000 $285,000 $5,935 3.60%
CORPUS CHRISTI, TX (FHA|USDA|VA) 1 $285,000 $285,000 $5,711 3.60%
SAN ANGELO, TX (FHA|USDA|VA) 1 $275,000 $275,000 $5,038 4.00%
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 2 $260,000 $130,000 $2,706 3.86%
BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 2 $250,000 $125,000 $4,065 4.62%
WICHITA FALLS, TX (FHA|USDA|VA) 1 $145,000 $145,000 $4,255 3.38%
LONGVIEW, TX (FHA|USDA|VA) 1 $135,000 $135,000 $4,875 3.60%
WACO, TX (FHA|USDA|VA) 1 $95,000 $95,000 $4,149 3.75%
Borger, TX (FHA|USDA|VA) 1 $85,000 $85,000 $3,943 3.60%
El Campo, TX (FHA|USDA|VA) 1 $65,000 $65,000 $120 5.74%

Gulf Coast Educators Federal Credit Union's top markets include Houston, Dallas, San Antonio, Brenham, and College Station among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 439 $87,235,000 $198,713 $4,587 3.51%

For the 2021 period, Gulf Coast Educators Federal Credit Union's most frequently originated loan type of loans were Conventional, with 439 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 199 $46,835,000 $235,352 $5,718 3.52%
Refi 119 $22,765,000 $191,303 $4,429 2.96%
Cash Out Refi 52 $7,430,000 $142,885 $2,569 4.01%
Other 39 $6,215,000 $159,359 $2,944 3.92%
Home Improvement 30 $3,990,000 $133,000 $2,717 4.16%

For the 2021, Gulf Coast Educators Federal Credit Union's most frequently cited loan purpose of loans were Home Purchase, with 199 originations. The 2nd most popular reason of loans were Refi, with 119 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 291 $66,875,000 $229,811 $5,393 3.40%
20 Year 59 $9,835,000 $166,695 $3,322 3.83%
15 Year 54 $7,980,000 $147,778 $3,423 3.47%
10 Year 25 $2,065,000 $82,600 $1,529 4.07%
5 Year 10 $480,000 $48,000 $0 3.64%

For the 2021, Gulf Coast Educators Federal Credit Union's most frequently cited loan length of loans were 30 Year, with 291 originations. The 2nd most popular length of loans were 20 Year, with 59 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 335 $73,095,000 $218,194
$<1k 75 $8,575,000 $114,333
$5k+ 9 $2,445,000 $271,667
$3k-4k 3 $735,000 $245,000

$5,393 of loans were Gulf Coast Educators Federal Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 335 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 258 $55,420,000 $214,806
2.5-3% 130 $25,960,000 $199,692
4-5% 24 $2,650,000 $110,417
<2.5% 11 $1,665,000 $151,364
5-6% 7 $645,000 $92,143
6-7% 6 $560,000 $93,333
Over 8% 3 $335,000 $111,667

During 2021, Gulf Coast Educators Federal Credit Union's average interest rate of loans were 3.40%, while their most frequently originated rate bucket of loans were 3-4%, with 258 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 211 $55,455,000 $262,820 $5,594 3.36%
$100k-200k 159 $25,335,000 $159,340 $4,158 3.43%
$100,000 or less 65 $4,455,000 $68,538 $1,595 4.20%
$400k-600k 4 $1,990,000 $497,500 $8,919 3.37%

2021 saw Gulf Coast Educators Federal Credit Union place emphasis on $200k-400k loans with 211 originations, totaling $55,455,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 150 $33,370,000 $222,467 $4,950 3.53%
$50k-75k 142 $23,310,000 $164,155 $4,266 3.65%
$75k-100k 66 $12,000,000 $181,818 $4,100 3.40%
$150k-250k 64 $15,360,000 $240,000 $5,005 3.32%
$50k or less 10 $1,340,000 $134,000 $4,568 3.19%
$250k+ 6 $1,770,000 $295,000 $4,923 3.10%

Gulf Coast Educators Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 150 originations. The second most popular income band? $50k-75k, with 142 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 138 $25,890,000 $187,609 $4,288 3.50%
30-36% 104 $21,900,000 $210,577 $4,885 3.36%
36% 21 $4,275,000 $203,571 $4,830 3.80%
<20% 21 $3,775,000 $179,762 $4,920 3.39%
38% 19 $4,275,000 $225,000 $5,580 3.49%
37% 18 $3,500,000 $194,444 $4,258 3.46%
43% 17 $3,655,000 $215,000 $4,711 3.54%
41% 17 $3,465,000 $203,824 $4,791 3.37%
40% 16 $3,470,000 $216,875 $4,659 3.79%
42% 15 $3,225,000 $215,000 $5,434 3.36%
39% 15 $3,565,000 $237,667 $5,604 3.44%
44% 15 $2,695,000 $179,667 $4,224 3.30%
45% 8 $1,160,000 $145,000 $2,817 3.93%
46% 6 $1,220,000 $203,333 $3,912 4.08%
47% 3 $515,000 $171,667 $1,960 4.29%
49% 3 $215,000 $71,667 $60 5.49%
48% 2 $330,000 $165,000 $2,567 3.73%
50-60% 1 $105,000 $105,000 $525 5.99%

Gulf Coast Educators Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 138 originations. The next most common DTI ratio? 30-36%, with 104 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 323 $64,655,000 $200,170 $4,547 3.50%
Not provided 58 $10,920,000 $188,276 $4,038 3.63%
Black 33 $7,185,000 $217,727 $5,596 3.50%
Asian 12 $2,390,000 $199,167 $5,441 3.23%
American Indian 9 $1,655,000 $183,889 $4,626 3.52%
Other Asian 4 $430,000 $107,500 $4,503 3.21%

Approval Rates

Total approvals of all applications
97.42%

Gulf Coast Educators 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
92.33%

Gulf Coast Educators Federal Credit Union has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 439 $87,235,000 $198,713

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
439 $87,235,000 $198,713

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 35 $2,825,000 $80,714 $1,760 3.81%
40-60% 47 $6,685,000 $142,234 $3,287 3.38%
60-80% 128 $25,950,000 $202,734 $4,348 3.33%
80-100% 206 $47,650,000 $231,311 $5,536 3.51%
Over 100% 13 $3,655,000 $281,154 $5,345 3.78%
Under 20% 10 $470,000 $47,000 $17 4.92%