Gulf Coast Educators Federal Credit Union Mortgage Rates, Fees & Info
Pasadena, TXLEI: 549300HC2W2SFF3LU356
Tax ID: 74-1109899
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Mortgage Data
Review & Overview
Gulf Coast Educators Federal Credit Union is a smaller credit union specializing in Home Purchase loans. Gulf Coast Educators Federal Credit Union has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Houston, San Antonio, Austin, Dallas, and College Station among others. We have data for 9 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. 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.43% | 12/16/24 |
| 30 Year Conventional Refi | 6.17% | 12/16/24 |
| 30 Year Cash-out Refi | 6.46% | 12/16/24 |
| 15 Year Conventional Purchase | 5.51% | 12/16/24 |
| 15 Year Conventional Refi | 5.90% | 12/16/24 |
| 15 Year Cash-out Refi | 5.90% | 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 Coast Educators Federal Credit Union Mortgage Calculator
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
315Origination Dollar Volume (All Markets)
$46,855,000Top 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) | 301 | $45,005,000 | $149,518 | $3,790 | 5.30% |
| Outside of Metro Areas | 5 | $445,000 | $89,000 | $3,928 | 4.72% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $4,967 | 4.56% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $5,365 | 4.75% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $5,202 | 5.00% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $2,830 | 7.75% |
| Nacogdoches, TX (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,940 | 4.88% |
| BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $4,746 | 4.63% |
| Lufkin, TX (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $475 | 5.49% |
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 | 313 | $46,695,000 | $149,185 | $3,808 | 5.29% |
| FHA | 1 | $115,000 | $115,000 | $2,626 | 4.74% |
| USDA | 1 | $45,000 | $45,000 | $1,145 | 6.49% |
For 2018, Gulf Coast Educators Federal Credit Union's most frequently originated type of loan was Conventional, with 313 originations. Their 2nd most popular type was FHA, with 1 originations.
Loan Reason
For 2018, Gulf Coast Educators Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 177 originations. The 2nd most popular reason was Other, with 78 originations.
Loan Duration/Length
For 2018, Gulf Coast Educators Federal Credit Union's most frequently cited loan duration was 30 Year, with 169 originations. The 2nd most popular length was 20 Year, with 48 originations.
Origination Fees/Closing Costs
Gulf Coast Educators Federal Credit Union's average total fees were $5,393, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 161 originations.
Interest Rates
During 2018, Gulf Coast Educators Federal Credit Union's average interest rate for loans was 4.91%, while their most frequently originated rate bucket for loans was 4-5%, with 182 originations.
Loan Sizing
2018 saw Gulf Coast Educators Federal Credit Union place emphasis on $100k-200k loans with 119 originations, totaling $18,075,000 in origination value.
Applicant Income
Gulf Coast Educators Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 122 originations. The second most popular income band? $50k-75k, with 90 originations.
Applicant Debt to Income Ratio
Gulf Coast Educators Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 58 originations. The next most common DTI ratio? 30-36%, with 49 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 315 | $46,855,000 | $148,746 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 315 | $46,855,000 | $148,746 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Gulf Coast Real Estate Emerald Coast, LLC, d/b/a Motto Mortgage On The Gulf | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |