Gecu Mortgage Rates, Fees & Info

El Paso, TX

LEI: 549300IV3BQZRSE82O16

Tax ID: 74-0650998

5 stars - Updated: 9/25/23 - out of 5 stars, based on 37 reviews

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Gecu is a smaller mortgage company specializing in Home Purchase 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.27% 9/25/23
    30 Year Conventional Purchase 7.00% 9/25/23
    30 Year Conventional Refi 6.66% 9/25/23
    30 Year Cash-out Refi 9.23% 9/25/23
    30 Year FHA Purchase 6.27% 9/25/23
    30 Year VA Purchase 6.27% 9/25/23
    15 Year Conventional Purchase 7.06% 9/25/23
    15 Year Conventional Refi 6.09% 9/25/23
    15 Year Cash-out Refi 6.09% 9/25/23
    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.

    Gecu Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Gecu. 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

    1,388

    Origination Dollar Volume (All Markets)

    $185,310,000

    Awards

    GECU 30 Year Conventional Loans gold
    Show all (1) awards

    Relative Rate

    Gecu's average 30 year fixed mortgage rate was 5.63%.

    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.

    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) 1,325 $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%
    Gecu's top markets include El Paso, Las Cruces, Alamogordo, and Ruidoso among others.

    Their top states include:
  • Texas (FHA|USDA|VA)
  • New Mexico (FHA|USDA|VA)

    • 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.

    PATRIOT MORTGAGE COMPANY
    Similarity Rank: 174
    Citizens Bank of Las Cruces
    Similarity Rank: 182
    EVOLVE
    Similarity Rank: 204
    GECU
    Similarity Rank: 310
    EL PASO AREA TEACHERS
    Similarity Rank: 612
    Rocky Mountain Mortgage Company
    Similarity Rank: 645
    FirstLight Federal Credit Union
    Similarity Rank: 660
    CADENCE LENDING GROUP, INC.
    Similarity Rank: 1036
    SECURITY SERVICE
    Similarity Rank: 1376
    Low VA Rates, LLC
    Similarity Rank: 3934

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,386 $184,890,000 $133,398 $2,603 5.90%
    HELOC 2 $420,000 $210,000 n/a 4.63%

    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.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 552 $103,430,000 $187,373 $3,492 5.47%
    Home Improvement 272 $16,940,000 $62,279 $1,319 7.38%
    Refi 258 $36,540,000 $141,628 $2,978 3.70%
    Cash Out Refi 216 $23,560,000 $109,074 $2,177 6.98%
    Other 90 $4,840,000 $53,778 $1,089 7.73%

    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.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 588 $107,000,000 $181,973 $3,394 5.63%
    15 Year 442 $45,220,000 $102,308 $2,392 5.69%
    20 Year 175 $14,925,000 $85,286 $1,743 6.97%
    10 Year 126 $14,200,000 $112,698 $1,306 6.34%
    5 Year 31 $1,195,000 $38,548 $892 6.54%
    Other 25 $2,565,000 $102,600 $2,034 5.45%
    1 Year 1 $205,000 $205,000 $0 3.75%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,001 $107,555,000 $107,448
    $1k-2k 155 $24,195,000 $156,097
    $2k-3k 140 $22,510,000 $160,786
    $3k-4k 55 $13,325,000 $242,273
    $4k-5k 16 $4,980,000 $311,250
    $5k+ 4 $1,810,000 $452,500

    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.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 289 $46,665,000 $161,471
    3-4% 226 $41,800,000 $184,956
    6-7% 208 $25,350,000 $121,875
    Over 8% 206 $17,600,000 $85,437
    7-8% 190 $17,960,000 $94,526
    4-5% 187 $25,925,000 $138,636
    2.5-3% 42 $5,090,000 $121,190
    <2.5% 39 $4,475,000 $114,744

    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.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 621 $36,035,000 $58,027 $1,536 6.49%
    $100k-200k 509 $72,355,000 $142,151 $2,936 5.50%
    $200k-400k 239 $61,025,000 $255,335 $4,415 5.29%
    $400k-600k 14 $6,790,000 $485,000 $8,020 4.72%
    $1MM+ 4 $8,460,000 $2,115,000 $10,152 4.86%
    $600k-1MM 1 $645,000 $645,000 $6,004 6.88%

    2022 saw Gecu place emphasis on $100,000 or less loans with 621 originations, totaling $36,035,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 398 $47,110,000 $118,367 $2,497 5.71%
    $50k or less 315 $26,855,000 $85,254 $2,096 5.89%
    $100k-150k 276 $41,520,000 $150,435 $2,858 5.87%
    $75k-100k 250 $32,410,000 $129,640 $2,556 6.20%
    $150k-250k 109 $18,595,000 $170,596 $3,231 6.17%
    $250k+ 25 $8,305,000 $332,200 $5,617 5.17%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 193 $27,085,000 $140,337 $2,968 5.32%
    50-60% 186 $18,250,000 $98,118 $2,086 6.98%
    >60% 177 $15,455,000 $87,316 $1,866 7.69%
    20-30% 172 $23,830,000 $138,547 $2,736 5.01%
    <20% 86 $10,130,000 $117,791 $2,543 5.34%
    49% 55 $8,245,000 $149,909 $2,904 5.90%
    48% 47 $6,535,000 $139,043 $2,801 6.02%
    43% 46 $6,720,000 $146,087 $3,205 5.13%
    38% 43 $6,505,000 $151,279 $2,922 4.91%
    42% 43 $6,605,000 $153,605 $2,972 5.95%
    37% 39 $5,625,000 $144,231 $2,754 5.23%
    40% 39 $5,095,000 $130,641 $2,595 5.55%
    41% 39 $5,725,000 $146,795 $3,045 5.14%
    39% 38 $4,830,000 $127,105 $2,466 5.60%
    44% 37 $5,545,000 $149,865 $3,124 5.96%
    46% 35 $4,355,000 $124,429 $2,469 5.59%
    47% 35 $4,835,000 $138,143 $2,656 5.58%
    45% 32 $4,730,000 $147,813 $2,592 5.33%
    36% 31 $4,695,000 $151,452 $3,296 5.46%

    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.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,097 $135,725,000 $123,724 $2,539 5.88%
    Not provided 259 $37,265,000 $143,880 $2,906 5.92%
    Not applicable 13 $10,065,000 $774,231 $0 5.64%
    Black 14 $1,740,000 $124,286 $2,346 6.61%
    Asian 4 $410,000 $102,500 $1,957 5.94%
    American Indian 1 $105,000 $105,000 $628 8.00%

    Approval Rates

    Total approvals of all applications
    80.88%

    Gecu has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    39.12%

    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 1,388 $185,310,000 $133,509

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,388 $185,310,000 $133,509

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 214 $14,520,000 $67,850 $1,471 6.70%
    40-60% 227 $24,555,000 $108,172 $2,468 5.45%
    60-80% 327 $56,215,000 $171,911 $3,196 5.48%
    80-100% 420 $82,770,000 $197,071 $3,646 5.31%
    Under 20% 200 $7,250,000 $36,250 $819 7.45%