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 and Refi 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 about average 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

    2,344

    Origination Dollar Volume (All Markets)

    $268,330,000

    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) 2,260 $256,460,000 $113,478 $2,412 4.95%
    Outside of Metro Areas 84 $11,870,000 $141,310 $2,570 4.68%
    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.

    GECU
    Similarity Rank: 72
    White Sands Federal Credit Union
    Similarity Rank: 72
    EVOLVE
    Similarity Rank: 91
    Pioneer Bank
    Similarity Rank: 234
    EL PASO AREA TEACHERS
    Similarity Rank: 270
    PATRIOT MORTGAGE COMPANY
    Similarity Rank: 346
    Citizens Bank of Las Cruces
    Similarity Rank: 432
    First American Bank
    Similarity Rank: 459
    CADENCE LENDING GROUP, INC.
    Similarity Rank: 612
    Rocky Mountain Mortgage Company
    Similarity Rank: 620

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,344 $268,330,000 $114,475 $2,418 4.94%

    For 2019, Gecu's most frequently originated type of loan was Conventional, with 2,344 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,250 $167,830,000 $134,264 $2,577 4.67%
    Refi 449 $53,795,000 $119,811 $2,879 3.98%
    Cash Out Refi 315 $27,895,000 $88,556 $2,054 6.02%
    Home Improvement 210 $11,610,000 $55,286 $1,578 6.19%
    Other 120 $7,200,000 $60,000 $1,498 6.28%

    For 2019, Gecu's most frequently cited loan purpose was Home Purchase, with 1,250 originations. The 2nd most popular reason was Refi, with 449 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,206 $172,210,000 $142,794 $2,736 4.68%
    15 Year 631 $63,075,000 $99,960 $2,505 4.93%
    10 Year 215 $11,155,000 $51,884 $1,454 5.63%
    20 Year 201 $15,355,000 $76,393 $1,688 5.68%
    5 Year 59 $4,135,000 $70,085 $1,254 5.45%
    Other 31 $2,365,000 $76,290 $1,822 4.67%
    3 Year 1 $35,000 $35,000 $1,018 6.00%

    For 2019, Gecu's most frequently cited loan duration was 30 Year, with 1,206 originations. The 2nd most popular length was 15 Year, with 631 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,671 $179,365,000 $107,340
    $1k-2k 230 $24,690,000 $107,348
    $2k-3k 225 $30,615,000 $136,067
    $3k-4k 40 $8,440,000 $211,000
    $4k-5k 9 $2,995,000 $332,778
    $5k+ 3 $2,285,000 $761,667

    Gecu's average total fees were $2,736, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,671 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 772 $106,920,000 $138,497
    4-5% 651 $81,015,000 $124,447
    5-6% 448 $41,230,000 $92,031
    6-7% 261 $21,575,000 $82,663
    7-8% 99 $8,375,000 $84,596
    Over 8% 95 $6,625,000 $69,737
    2.5-3% 18 $2,590,000 $143,889

    During 2019, Gecu's average interest rate for loans was 4.68%, while their most frequently originated rate bucket for loans was 3-4%, with 772 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,151 $70,355,000 $61,125 $1,870 5.37%
    $100k-200k 989 $138,355,000 $139,894 $2,694 4.56%
    $200k-400k 187 $46,195,000 $247,032 $3,957 4.34%
    $400k-600k 8 $3,690,000 $461,250 $7,344 4.12%
    $600k-1MM 5 $3,875,000 $775,000 $9,688 5.04%
    $1MM+ 4 $5,860,000 $1,465,000 $13,437 3.99%

    2019 saw Gecu place emphasis on $100,000 or less loans with 1,151 originations, totaling $70,355,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 781 $65,345,000 $83,668 $2,171 5.11%
    $50k-75k 662 $72,700,000 $109,819 $2,303 4.85%
    $75k-100k 382 $46,600,000 $121,990 $2,527 4.84%
    $100k-150k 361 $48,835,000 $135,277 $2,623 4.85%
    $150k-250k 120 $18,380,000 $153,167 $3,090 4.89%
    $250k+ 23 $9,645,000 $419,348 $5,537 4.62%

    Gecu lent most frequently to those with incomes in the $50k or less range, with 781 originations. The second most popular income band? $50k-75k, with 662 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 434 $49,570,000 $114,217 $2,466 4.62%
    30-36% 398 $48,010,000 $120,628 $2,468 4.65%
    50-60% 217 $21,715,000 $100,069 $2,352 5.86%
    <20% 176 $16,980,000 $96,477 $2,234 4.54%
    >60% 160 $13,530,000 $84,563 $2,243 6.21%
    39% 80 $10,750,000 $134,375 $2,636 4.81%
    41% 80 $9,370,000 $117,125 $2,356 4.78%
    37% 79 $9,285,000 $117,532 $2,280 4.65%
    45% 74 $8,110,000 $109,595 $2,434 4.85%
    49% 72 $8,150,000 $113,194 $2,377 5.28%
    43% 72 $9,320,000 $129,444 $2,535 5.03%
    40% 68 $8,470,000 $124,559 $2,644 5.16%
    42% 64 $8,100,000 $126,563 $2,656 4.68%
    44% 63 $7,105,000 $112,778 $2,294 4.72%
    38% 62 $7,330,000 $118,226 $2,538 4.80%
    47% 59 $6,005,000 $101,780 $2,116 5.03%
    36% 59 $6,915,000 $117,203 $2,442 4.56%
    48% 56 $6,470,000 $115,536 $2,551 4.69%
    46% 56 $6,320,000 $112,857 $2,484 4.77%

    Gecu lent most frequently to those with DTI ratios of 20-30%, with 434 originations. The next most common DTI ratio? 30-36%, with 398 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,030 $225,640,000 $111,153 $2,417 4.93%
    Not provided 279 $33,045,000 $118,441 $2,399 4.97%
    Not applicable 15 $6,825,000 $455,000 $0 5.46%
    Black 14 $2,110,000 $150,714 $2,826 4.78%
    Asian 4 $430,000 $107,500 $2,492 5.19%
    Korean 2 $280,000 $140,000 $2,571 4.56%

    Approval Rates

    Total approvals of all applications
    85.92%

    Gecu has an average approval rate.

    Pick Rate

    Approvals leading to origination
    50.30%

    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 2,344 $268,330,000 $114,475

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 12 $6,500,000 $541,667
    Single Family (1-4 Units):Site-Built 2,332 $261,830,000 $112,277

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 220 $10,650,000 $48,409 $1,566 5.46%
    40-60% 270 $22,670,000 $83,963 $2,173 5.12%
    60-80% 616 $70,100,000 $113,799 $2,659 4.86%
    80-100% 1,066 $159,790,000 $149,897 $2,813 4.60%
    Under 20% 172 $5,120,000 $29,767 $554 6.36%