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 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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SimulatedRates™Mortgage Type |
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. | ||
Originations
1,388Origination Dollar Volume (All Markets)
$185,310,000Awards
GECU - 2022
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For 2022, less than of lenders were eligible for this award.
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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% |
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: 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
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
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
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.
Interest Rates
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
2022 saw Gecu place emphasis on $100,000 or less loans with 621 originations, totaling $36,035,000 in origination value.
Applicant Income
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.
Ethnicity Mix
Approval Rates
Total approvals of all applications80.88%
Gecu has a below average approval rate.
Pick Rate
Approvals leading to origination39.12%
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 |