Gecu Mortgage Rates, Fees & Info
El Paso, TXLEI: 549300IV3BQZRSE82O16
Tax ID: 74-0650998
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Mortgage Data
Review & Overview
Gecu is a smaller mortgage company specializing in Home Improvement, Cash Out Refi, and Home Purchase loans. Gecu has a high proportion of conventional loans. Their top markets by origination volume include: El Paso, Las Cruces, Alamogordo, San Antonio, and Sherman among others. We have data for 12 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.
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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 12/16/24 |
| 30 Year Conventional Purchase | 7.00% | 12/16/24 |
| 30 Year Conventional Refi | 6.66% | 12/16/24 |
| 30 Year Cash-out Refi | 9.23% | 12/16/24 |
| 30 Year FHA Purchase | 6.27% | 12/16/24 |
| 30 Year VA Purchase | 6.27% | 12/16/24 |
| 15 Year Conventional Purchase | 7.06% | 12/16/24 |
| 15 Year Conventional Refi | 6.09% | 12/16/24 |
| 15 Year Cash-out Refi | 6.09% | 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. | ||
Gecu Mortgage Calculator
Your Estimates
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This is not an official calculator from Gecu. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,492Origination Dollar Volume (All Markets)
$166,680,000Awards
GECU - 2023
GECU is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Gecu's average 30 year fixed mortgage rate was
7.37%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.89%.
Relative Fees (Closing Costs)
Gecu's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,588.
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 |
|---|---|---|---|---|---|
| EL PASO, TX (FHA|USDA|VA) | 1,418 | $156,530,000 | $110,388 | $2,071 | 7.34% |
| LAS CRUCES, NM (FHA|USDA|VA) | 50 | $6,880,000 | $137,600 | $3,009 | 7.09% |
| Alamogordo, NM (FHA|USDA|VA) | 6 | $760,000 | $126,667 | $4,251 | 7.56% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 4 | $610,000 | $152,500 | $3,175 | 7.66% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $10,384 | 7.13% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 3 | $385,000 | $128,333 | $3,367 | 6.50% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 3 | $335,000 | $111,667 | $2,373 | 6.96% |
| Outside of Metro Areas | 2 | $240,000 | $120,000 | $4,305 | 7.13% |
| Deming, NM (FHA|USDA|VA) | 2 | $220,000 | $110,000 | $3,156 | 6.38% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $5,972 | 7.38% |
| MIDLAND, TX (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $1,562 | 6.88% |
| Ruidoso, NM (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $1,523 | 6.25% |
Similar Lenders
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: 18
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Similarity Rank: 196
Similarity Rank: 248
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Similarity Rank: 264
Similarity Rank: 495
Similarity Rank: 568
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 1,491 | $166,145,000 | $111,432 | $2,130 | 7.32% |
| HELOC | 1 | $535,000 | $535,000 | n/a | 7.75% |
For 2023, Gecu's most frequently originated type of loan was Conventional, with 1,491 originations. Their 2nd most popular type was HELOC, with 1 originations.
Loan Reason
For 2023, Gecu's most frequently cited loan purpose was Home Improvement, with 520 originations. The 2nd most popular reason was Cash Out Refi, with 405 originations.
Loan Duration/Length
For 2023, Gecu's most frequently cited loan duration was 15 Year, with 492 originations. The 2nd most popular length was 30 Year, with 443 originations.
Origination Fees/Closing Costs
Gecu's average total fees were $3,588, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,257 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 621 | $72,785,000 | $117,206 |
| 7-8% | 439 | $51,655,000 | $117,665 |
| Over 8% | 283 | $27,025,000 | $95,495 |
| 5-6% | 149 | $15,215,000 | $102,114 |
During 2023, Gecu's average interest rate for loans was 7.37%, while their most frequently originated rate bucket for loans was 6-7%, with 621 originations.
Loan Sizing
2023 saw Gecu place emphasis on $100,000 or less loans with 842 originations, totaling $47,590,000 in origination value.
Applicant Income
Gecu lent most frequently to those with incomes in the $50k-75k range, with 392 originations. The second most popular income band? $100k-150k, with 347 originations.
Applicant Debt to Income Ratio
Gecu lent most frequently to those with DTI ratios of >60%, with 340 originations. The next most common DTI ratio? 50-60%, with 287 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications80.49%
Gecu has a below average approval rate.
Pick Rate
Approvals leading to origination56.30%
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 |
|---|---|---|---|
| NA | 1,492 | $166,680,000 | $111,716 |