Gecu Mortgage Rates, Fees & Info

El Paso, TX

LEI: 549300IV3BQZRSE82O16

Tax ID: 74-0650998

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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 (well, only) market is El Paso.

    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% 4/21/24
    30 Year Conventional Purchase 7.00% 4/21/24
    30 Year Conventional Refi 6.66% 4/21/24
    30 Year Cash-out Refi 9.23% 4/21/24
    30 Year FHA Purchase 6.27% 4/21/24
    30 Year VA Purchase 6.27% 4/21/24
    15 Year Conventional Purchase 7.06% 4/21/24
    15 Year Conventional Refi 6.09% 4/21/24
    15 Year Cash-out Refi 6.09% 4/21/24
    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

    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

    2,030

    Origination Dollar Volume (All Markets)

    $208,440,000

    Awards

    GECU 30 Year Conventional Loans gold GECU 30 Year Conventional Loans bronze
    Show all (2) awards

    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) 1,958 $199,280,000 $101,777 $2,333 5.76%
    Outside of Metro Areas 72 $9,160,000 $127,222 $2,677 5.60%
    Gecu's top markets include and El Paso 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.

    EVOLVE
    Similarity Rank: 48
    GECU
    Similarity Rank: 92
    Pioneer Bank
    Similarity Rank: 189
    PATRIOT MORTGAGE COMPANY
    Similarity Rank: 242
    Rocky Mountain Mortgage Company
    Similarity Rank: 385
    FirstLight Federal Credit Union
    Similarity Rank: 432
    Citizens Bank of Las Cruces
    Similarity Rank: 672
    SECURITY SERVICE
    Similarity Rank: 832
    LEGACY MORTGAGE LLC
    Similarity Rank: 858
    Stifel Bank and Trust
    Similarity Rank: 1029

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,030 $208,440,000 $102,680 $2,345 5.75%

    For 2018, Gecu's most frequently originated type of loan was Conventional, with 2,030 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,099 $140,975,000 $128,276 $2,614 5.26%
    Cash Out Refi 313 $25,795,000 $82,412 $2,110 6.76%
    Refi 270 $23,690,000 $87,741 $2,574 4.93%
    Home Improvement 237 $12,505,000 $52,764 $1,581 7.17%
    Other 111 $5,475,000 $49,324 $1,446 6.73%

    For 2018, Gecu's most frequently cited loan purpose was Home Purchase, with 1,099 originations. The 2nd most popular reason was Cash Out Refi, with 313 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,048 $137,830,000 $131,517 $2,674 5.45%
    15 Year 524 $43,260,000 $82,557 $2,302 5.90%
    20 Year 184 $14,420,000 $78,370 $1,868 6.19%
    10 Year 183 $9,075,000 $49,590 $1,550 6.26%
    5 Year 55 $2,005,000 $36,455 $1,126 6.61%
    Other 33 $1,685,000 $51,061 $1,638 6.02%
    3 Year 3 $165,000 $55,000 $2,330 6.67%

    For 2018, Gecu's most frequently cited loan duration was 30 Year, with 1,048 originations. The 2nd most popular length was 15 Year, with 524 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,062 $100,490,000 $94,623
    $2k-3k 202 $27,870,000 $137,970
    $1k-2k 182 $17,840,000 $98,022
    $3k-4k 26 $5,680,000 $218,462
    $4k-5k 4 $1,410,000 $352,500
    $5k+ 1 $455,000 $455,000

    Gecu's average total fees were $2,674, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,062 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 769 $99,535,000 $129,434
    5-6% 529 $48,565,000 $91,805
    6-7% 315 $25,925,000 $82,302
    Over 8% 179 $12,485,000 $69,749
    7-8% 151 $12,575,000 $83,278
    3-4% 87 $9,355,000 $107,529

    During 2018, Gecu's average interest rate for loans was 5.45%, while their most frequently originated rate bucket for loans was 4-5%, with 769 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,103 $67,375,000 $61,083 $1,849 6.13%
    $100k-200k 796 $108,150,000 $135,867 $2,726 5.33%
    $200k-400k 127 $31,155,000 $245,315 $4,089 5.15%
    $400k-600k 4 $1,760,000 $440,000 $7,192 4.59%

    2018 saw Gecu place emphasis on $100,000 or less loans with 1,103 originations, totaling $67,375,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 807 $63,795,000 $79,052 $2,018 5.82%
    $50k-75k 566 $58,860,000 $103,993 $2,423 5.75%
    $75k-100k 283 $31,855,000 $112,562 $2,465 5.68%
    $100k-150k 265 $36,055,000 $136,057 $2,713 5.76%
    $150k-250k 86 $13,490,000 $156,860 $3,075 5.40%
    $250k+ 21 $4,175,000 $198,810 $3,723 5.14%

    Gecu lent most frequently to those with incomes in the $50k or less range, with 807 originations. The second most popular income band? $50k-75k, with 566 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 330 $35,500,000 $107,576 $2,399 5.35%
    30-36% 285 $30,825,000 $108,158 $2,474 5.38%
    50-60% 223 $19,365,000 $86,839 $2,206 6.67%
    >60% 221 $16,415,000 $74,276 $2,036 7.02%
    <20% 135 $13,205,000 $97,815 $2,368 5.26%
    46% 76 $7,880,000 $103,684 $2,070 5.64%
    40% 76 $7,920,000 $104,211 $2,270 5.56%
    49% 74 $8,780,000 $118,649 $2,558 5.60%
    44% 66 $6,750,000 $102,273 $2,330 5.86%
    45% 60 $6,700,000 $111,667 $2,652 5.77%
    47% 59 $6,455,000 $109,407 $2,499 5.38%
    42% 58 $6,850,000 $118,103 $2,564 5.65%
    41% 56 $5,740,000 $102,500 $2,296 5.52%
    37% 54 $5,850,000 $108,333 $2,354 5.26%
    48% 53 $6,925,000 $130,660 $2,712 5.25%
    39% 52 $6,480,000 $124,615 $2,610 5.18%
    36% 51 $5,375,000 $105,392 $2,204 5.56%
    43% 50 $5,470,000 $109,400 $2,240 5.72%
    38% 50 $5,890,000 $117,800 $2,221 5.30%

    Gecu lent most frequently to those with DTI ratios of 20-30%, with 330 originations. The next most common DTI ratio? 30-36%, with 285 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,859 $188,755,000 $101,536 $2,327 5.77%
    Not provided 127 $14,665,000 $115,472 $2,553 5.51%
    Black 27 $2,735,000 $101,296 $2,075 5.92%
    Asian 10 $1,530,000 $153,000 $3,585 4.69%
    American Indian 4 $360,000 $90,000 $2,448 6.88%
    Not applicable 2 $210,000 $105,000 $0 6.75%
    Korean 1 $185,000 $185,000 $2,612 5.13%

    Approval Rates

    Total approvals of all applications
    83.72%

    Gecu has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    56.95%

    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 2,030 $208,440,000 $102,680

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $205,000 $205,000
    Single Family (1-4 Units):Site-Built 2,029 $208,235,000 $102,629

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 211 $8,685,000 $41,161 $1,393 6.31%
    40-60% 256 $17,640,000 $68,906 $2,072 6.17%
    60-80% 477 $49,605,000 $103,994 $2,506 5.81%
    80-100% 972 $129,460,000 $133,189 $2,735 5.33%
    Under 20% 114 $3,050,000 $26,754 $725 7.08%