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

Pasadena, TX

LEI: 549300HC2W2SFF3LU356

Tax ID: 74-1109899

5 stars - Updated: 6/17/24 - out of 5 stars, based on 21 reviews

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

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Mortgage Data

Review & Overview

Gulf Coast Educators Federal Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Gulf Coast Educators Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Houston, Dallas, San Antonio, Austin, and El Paso among others. We have data for 22 markets. (Some data included below & more in-depth data is available with an active subscription.)

Gulf Coast Educators Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Gulf Coast Educators Federal Credit Union is typically an average 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
30 Year Conventional Purchase 6.43% 6/17/24
30 Year Conventional Refi 6.17% 6/17/24
30 Year Cash-out Refi 6.46% 6/17/24
15 Year Conventional Purchase 5.51% 6/17/24
15 Year Conventional Refi 5.90% 6/17/24
15 Year Cash-out Refi 5.90% 6/17/24
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 Coast Educators Federal 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 Coast Educators Federal 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

425

Origination Dollar Volume (All Markets)

$86,735,000

Awards

GULF COAST EDUCATORS FEDERAL CREDIT UNION 30 Year Conventional Loans bronze GULF COAST EDUCATORS FEDERAL CREDIT UNION 30 Year Conventional Loans silver GULF COAST EDUCATORS FEDERAL CREDIT UNION 30 Year Conventional Loans bronze
Show all (3) awards

Relative Rate

Gulf Coast Educators Federal Credit Union's average 30 year fixed mortgage rate was 6.25%.

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

This yields a difference of -0.23%.

Relative Fees (Closing Costs)

Gulf Coast Educators Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $6,403.

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
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 386 $76,200,000 $197,409 $4,083 6.94%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 8 $3,070,000 $383,750 $6,978 6.05%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 4 $1,240,000 $310,000 $5,537 6.18%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 3 $1,145,000 $381,667 $5,115 5.95%
Outside of Metro Areas 5 $785,000 $157,000 $4,344 6.86%
EL PASO, TX (FHA|USDA|VA) 2 $530,000 $265,000 $5,366 6.61%
Big Spring, TX (FHA|USDA|VA) 1 $495,000 $495,000 $5,894 5.63%
BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 2 $300,000 $150,000 $3,222 6.87%
WACO, TX (FHA|USDA|VA) 1 $295,000 $295,000 $5,395 6.75%
TYLER, TX (FHA|USDA|VA) 1 $295,000 $295,000 $6,174 6.25%
ODESSA, TX (FHA|USDA|VA) 1 $285,000 $285,000 $6,259 6.63%
AMARILLO, TX (FHA|USDA|VA) 1 $275,000 $275,000 $5,496 6.00%
Gainesville, TX (FHA|USDA|VA) 1 $265,000 $265,000 $5,234 6.23%
Uvalde, TX (FHA|USDA|VA) 1 $235,000 $235,000 $4,193 5.63%
LONGVIEW, TX (FHA|USDA|VA) 1 $235,000 $235,000 $5,455 6.25%
BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 1 $205,000 $205,000 $4,527 6.63%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $205,000 $205,000 $5,814 5.88%
Lufkin, TX (FHA|USDA|VA) 1 $195,000 $195,000 $5,899 7.00%
CORPUS CHRISTI, TX (FHA|USDA|VA) 1 $155,000 $155,000 $3,863 7.75%
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 1 $135,000 $135,000 $5,084 6.38%
LUBBOCK, TX (FHA|USDA|VA) 1 $125,000 $125,000 $5,016 6.50%
WICHITA FALLS, TX (FHA|USDA|VA) 1 $65,000 $65,000 $3,110 6.25%
Gulf Coast Educators Federal Credit Union's top markets include Houston, Dallas, San Antonio, Austin, and El Paso among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against GULF COAST EDUCATORS FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 425 $86,735,000 $204,082 $4,201 6.89%

    For 2023, Gulf Coast Educators Federal Credit Union's most frequently originated type of loan was Conventional, with 425 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 233 $66,105,000 $283,712 $6,413 6.24%
    Cash Out Refi 182 $17,940,000 $98,571 $1,228 7.79%
    Refi 10 $2,690,000 $269,000 $6,774 5.68%

    For 2023, Gulf Coast Educators Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 233 originations. The 2nd most popular reason was Cash Out Refi, with 182 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 247 $69,825,000 $282,692 $6,403 6.25%
    20 Year 88 $8,690,000 $98,750 $1,078 8.29%
    10 Year 51 $3,475,000 $68,137 $883 7.38%
    15 Year 30 $4,150,000 $138,333 $1,942 7.26%
    5 Year 8 $390,000 $48,750 $108 6.87%
    Other 1 $205,000 $205,000 $4,934 5.88%

    For 2023, Gulf Coast Educators Federal Credit Union's most frequently cited loan duration was 30 Year, with 247 originations. The 2nd most popular length was 20 Year, with 88 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 245 $66,765,000 $272,510
    $<1k 151 $11,485,000 $76,060
    $5k+ 24 $7,290,000 $303,750
    $4k-5k 3 $755,000 $251,667
    $3k-4k 2 $440,000 $220,000

    Gulf Coast Educators Federal Credit Union's average total fees were $6,403, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 245 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 186 $45,150,000 $242,742
    5-6% 106 $28,950,000 $273,113
    Over 8% 66 $4,430,000 $67,121
    7-8% 62 $7,170,000 $115,645
    4-5% 5 $1,035,000 $207,000

    During 2023, Gulf Coast Educators Federal Credit Union's average interest rate for loans was 6.25%, while their most frequently originated rate bucket for loans was 6-7%, with 186 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 197 $54,395,000 $276,117 $6,351 6.18%
    $100,000 or less 125 $6,995,000 $55,960 $509 8.10%
    $100k-200k 72 $10,440,000 $145,000 $3,182 7.09%
    $400k-600k 26 $11,620,000 $446,923 $7,775 6.15%
    $600k-1MM 5 $3,285,000 $657,000 $7,896 5.85%

    2023 saw Gulf Coast Educators Federal Credit Union place emphasis on $200k-400k loans with 197 originations, totaling $54,395,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 140 $28,370,000 $202,643 $4,382 7.16%
    $150k-250k 112 $29,590,000 $264,196 $5,225 6.57%
    $75k-100k 69 $10,135,000 $146,884 $2,782 7.20%
    $50k-75k 66 $9,470,000 $143,485 $3,777 6.78%
    $250k+ 28 $8,200,000 $292,857 $4,736 6.43%
    $50k or less 9 $885,000 $98,333 $1,378 6.45%

    Gulf Coast Educators Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 140 originations. The second most popular income band? $150k-250k, with 112 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 105 $23,035,000 $219,381 $4,618 6.65%
    30-36% 83 $18,725,000 $225,602 $4,708 6.66%
    44% 26 $4,720,000 $181,538 $3,745 7.54%
    38% 21 $3,655,000 $174,048 $3,547 7.28%
    39% 21 $4,615,000 $219,762 $4,896 6.59%
    <20% 20 $4,020,000 $201,000 $4,082 6.23%
    41% 17 $3,465,000 $203,824 $4,638 7.25%
    37% 17 $3,395,000 $199,706 $4,063 6.70%
    36% 16 $3,130,000 $195,625 $3,705 7.06%
    40% 16 $3,210,000 $200,625 $3,700 7.19%
    43% 15 $2,675,000 $178,333 $4,421 7.01%
    42% 14 $2,080,000 $148,571 $3,112 7.08%
    46% 13 $3,105,000 $238,846 $5,672 6.38%
    47% 12 $1,740,000 $145,000 $2,049 7.55%
    50-60% 10 $1,860,000 $186,000 $1,966 7.93%
    45% 9 $1,485,000 $165,000 $2,760 7.77%
    48% 4 $730,000 $182,500 $3,208 7.93%
    49% 4 $680,000 $170,000 $2,753 7.21%
    >60% 2 $410,000 $205,000 $5,363 6.13%

    Gulf Coast Educators Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 105 originations. The next most common DTI ratio? 30-36%, with 83 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 324 $67,060,000 $206,975 $4,366 6.79%
    Not provided 60 $10,750,000 $179,167 $3,295 7.25%
    Black 27 $5,045,000 $186,852 $3,449 7.52%
    Asian 11 $3,075,000 $279,545 $5,729 6.28%
    American Indian 2 $520,000 $260,000 $5,606 6.46%
    Native Hawaiian or Islander 1 $285,000 $285,000 $5,995 6.63%

    Approval Rates

    Total approvals of all applications
    92.60%

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

    Pick Rate

    Approvals leading to origination
    90.59%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 425 $86,735,000 $204,082

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    425 $86,735,000 $204,082

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 55 $5,435,000 $98,818 $1,198 7.88%
    40-60% 31 $4,865,000 $156,935 $2,247 6.92%
    60-80% 70 $17,660,000 $252,286 $5,044 6.43%
    80-100% 174 $49,550,000 $284,770 $6,511 6.20%
    Over 100% 19 $5,795,000 $305,000 $7,497 6.65%
    Under 20% 76 $3,430,000 $45,132 $284 8.21%