Gecu Mortgage Rates, Fees & InfoEl Paso, TX
Tax ID: 74-0650998
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewGecu is a smaller mortgage company specializing in loans. Gecu has a high proportion of conventional loans. Their top markets by origination volume include: El Paso, Las Cruces, Alamogordo, and Ruidoso among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)
Gecu has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Gecu is typically a low 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.
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|Simulated Rate||Simulation Date|
|Home Equity Line of Credit (HELOC)||6.27%||3/30/23|
|30 Year Conventional Purchase||7.00%||3/30/23|
|30 Year Conventional Refi||6.66%||3/30/23|
|30 Year Cash-out Refi||9.23%||3/30/23|
|30 Year FHA Purchase||6.27%||3/30/23|
|30 Year VA Purchase||6.27%||3/30/23|
|15 Year Conventional Purchase||7.06%||3/30/23|
|15 Year Conventional Refi||6.09%||3/30/23|
|15 Year Cash-out Refi||6.09%||3/30/23|
|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.|
Origination Dollar Volume (All Markets)$185,310,000
Gecu's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.87%.
Relative Fees (Closing Costs)
Gecu's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,394.
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 $4,750.
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|
|EL PASO, TX (FHA|USDA|VA)||1,325||$174,095,000||$131,392||$2,572||5.93%|
|LAS CRUCES, NM (FHA|USDA|VA)||50||$8,210,000||$164,200||$2,984||5.11%|
|Outside of Metro Areas||6||$1,460,000||$243,333||$4,427||6.48%|
|Alamogordo, NM (FHA|USDA|VA)||3||$805,000||$268,333||$5,040||5.08%|
|Ruidoso, NM (FHA|USDA|VA)||4||$740,000||$185,000||$3,301||3.72%|
We use machine learning to identify the top lenders compared against GECU based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 174
Similarity Rank: 182
Similarity Rank: 204
Similarity Rank: 310
Similarity Rank: 612
Similarity Rank: 645
Similarity Rank: 660
Similarity Rank: 1036
Similarity Rank: 1376
Similarity Rank: 3934
|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Gecu's most frequently originated type of loan was Conventional, with 1,386 originations. Their 2nd most popular type was HELOC, with 2 originations.
For 2022, Gecu's most frequently cited loan purpose was Home Purchase, with 552 originations. The 2nd most popular reason was Home Improvement, with 272 originations.
For 2022, Gecu's most frequently cited loan duration was 30 Year, with 588 originations. The 2nd most popular length was 15 Year, with 442 originations.
Origination Fees/Closing Costs
Gecu's average total fees were $3,394, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,001 originations.
During 2022, Gecu's average interest rate for loans was 5.63%, while their most frequently originated rate bucket for loans was 5-6%, with 289 originations.
2022 saw Gecu place emphasis on $100,000 or less loans with 621 originations, totaling $36,035,000 in origination value.
Gecu lent most frequently to those with incomes in the $50k-75k range, with 398 originations. The second most popular income band? $50k or less, with 315 originations.
Applicant Debt to Income Ratio
Gecu lent most frequently to those with DTI ratios of 30-36%, with 193 originations. The next most common DTI ratio? 50-60%, with 186 originations.
Approval RatesTotal approvals of all applications
Gecu has a below average approval rate.
Pick RateApprovals leading to origination
Gecu has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
|Points||Originations||Total Value||Average Loan|