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% | 4/18/24 |
| 30 Year Conventional Purchase | 7.00% | 4/18/24 |
| 30 Year Conventional Refi | 6.66% | 4/18/24 |
| 30 Year Cash-out Refi | 9.23% | 4/18/24 |
| 30 Year FHA Purchase | 6.27% | 4/18/24 |
| 30 Year VA Purchase | 6.27% | 4/18/24 |
| 15 Year Conventional Purchase | 7.06% | 4/18/24 |
| 15 Year Conventional Refi | 6.09% | 4/18/24 |
| 15 Year Cash-out Refi | 6.09% | 4/18/24 |
| 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™
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
1,492Origination 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: 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 |