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% 12/16/24
    30 Year Conventional Purchase 7.00% 12/16/24
    30 Year Conventional Refi 6.66% 12/16/24
    30 Year Cash-out Refi 9.23% 12/16/24
    30 Year FHA Purchase 6.27% 12/16/24
    30 Year VA Purchase 6.27% 12/16/24
    15 Year Conventional Purchase 7.06% 12/16/24
    15 Year Conventional Refi 6.09% 12/16/24
    15 Year Cash-out Refi 6.09% 12/16/24
    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

    2,453

    Origination Dollar Volume (All Markets)

    $312,085,000

    Awards

    GECU 30 Year Conventional Loans silver
    Show all (1) 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) 2,279 $282,665,000 $124,030 $3,276 3.82%
    Outside of Metro Areas 174 $29,420,000 $169,080 $3,930 3.58%
    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: 118
    EVOLVE
    Similarity Rank: 126
    EL PASO AREA TEACHERS
    Similarity Rank: 364
    White Sands Federal Credit Union
    Similarity Rank: 450
    Pioneer Bank
    Similarity Rank: 525
    PATRIOT MORTGAGE COMPANY
    Similarity Rank: 664
    First American Bank
    Similarity Rank: 684
    Citizens Bank of Las Cruces
    Similarity Rank: 1152
    Rocky Mountain Mortgage Company
    Similarity Rank: 1245
    FirstLight Federal Credit Union
    Similarity Rank: 1246

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,450 $311,780,000 $127,257 $3,323 3.80%
    HELOC 3 $305,000 $101,667 n/a 5.50%

    For 2020, Gecu's most frequently originated type of loan was Conventional, with 2,450 originations. Their 2nd most popular type was HELOC, with 3 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,092 $157,120,000 $143,883 $3,520 3.84%
    Refi 928 $121,510,000 $130,938 $3,762 3.06%
    Cash Out Refi 230 $21,360,000 $92,870 $2,118 5.24%
    Home Improvement 149 $9,025,000 $60,570 $1,601 5.42%
    Other 54 $3,070,000 $56,852 $1,688 5.19%

    For 2020, Gecu's most frequently cited loan purpose was Home Purchase, with 1,092 originations. The 2nd most popular reason was Refi, with 928 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,147 $174,565,000 $152,193 $3,681 3.81%
    15 Year 833 $94,555,000 $113,511 $3,342 3.54%
    20 Year 222 $24,230,000 $109,144 $2,691 4.33%
    10 Year 163 $11,045,000 $67,761 $2,049 4.31%
    Other 50 $5,290,000 $105,800 $2,986 3.51%
    5 Year 35 $1,885,000 $53,857 $1,487 4.56%
    1 Year 1 $155,000 $155,000 $0 4.75%
    30+ year 1 $305,000 $305,000 $6,105 4.25%
    3 Year 1 $55,000 $55,000 $451 4.63%

    For 2020, Gecu's most frequently cited loan duration was 30 Year, with 1,147 originations. The 2nd most popular length was 15 Year, with 833 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 902 $94,410,000 $104,667
    $2k-3k 710 $107,550,000 $151,479
    $1k-2k 527 $48,795,000 $92,590
    $3k-4k 151 $35,965,000 $238,179
    $4k-5k 23 $7,855,000 $341,522
    $5k+ 9 $4,725,000 $525,000

    Gecu's average total fees were $3,681, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 902 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 798 $115,590,000 $144,850
    3-4% 764 $108,240,000 $141,675
    4-5% 363 $33,205,000 $91,474
    5-6% 251 $24,695,000 $98,386
    <2.5% 131 $18,465,000 $140,954
    6-7% 83 $7,305,000 $88,012
    Over 8% 37 $2,395,000 $64,730
    7-8% 26 $2,190,000 $84,231

    During 2020, Gecu's average interest rate for loans was 3.81%, while their most frequently originated rate bucket for loans was 2.5-3%, with 798 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 1,211 $171,655,000 $141,746 $3,652 3.54%
    $100,000 or less 943 $61,535,000 $65,255 $2,279 4.29%
    $200k-400k 284 $70,860,000 $249,507 $5,131 3.33%
    $400k-600k 13 $5,785,000 $445,000 $8,085 3.15%
    $1MM+ 1 $1,255,000 $1,255,000 $19,816 3.55%
    $600k-1MM 1 $995,000 $995,000 $8,778 4.40%

    2020 saw Gecu place emphasis on $100k-200k loans with 1,211 originations, totaling $171,655,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 723 $85,075,000 $117,669 $3,181 3.73%
    $50k or less 651 $60,705,000 $93,249 $2,787 4.05%
    $100k-150k 454 $68,550,000 $150,991 $3,668 3.68%
    $75k-100k 410 $54,830,000 $133,732 $3,509 3.79%
    $150k-250k 162 $29,170,000 $180,062 $4,120 3.53%
    $250k+ 42 $11,230,000 $267,381 $5,460 3.35%

    Gecu lent most frequently to those with incomes in the $50k-75k range, with 723 originations. The second most popular income band? $50k or less, with 651 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 501 $65,045,000 $129,830 $3,468 3.47%
    30-36% 420 $57,210,000 $136,214 $3,529 3.56%
    50-60% 190 $19,840,000 $104,421 $2,730 4.78%
    <20% 154 $20,590,000 $133,701 $3,642 3.30%
    44% 112 $13,930,000 $124,375 $3,329 4.00%
    >60% 103 $8,705,000 $84,515 $2,054 5.52%
    38% 100 $12,100,000 $121,000 $3,149 3.78%
    40% 94 $12,330,000 $131,170 $3,532 3.57%
    39% 80 $11,180,000 $139,750 $3,420 3.71%
    42% 80 $9,910,000 $123,875 $3,187 3.89%
    37% 80 $10,170,000 $127,125 $3,361 3.71%
    36% 77 $9,645,000 $125,260 $3,261 3.81%
    48% 71 $9,975,000 $140,493 $3,444 3.84%
    45% 71 $8,955,000 $126,127 $3,402 3.92%
    47% 68 $8,890,000 $130,735 $3,537 3.69%
    43% 67 $8,395,000 $125,299 $3,244 3.82%
    41% 61 $7,305,000 $119,754 $3,137 3.50%
    46% 58 $7,940,000 $136,897 $3,597 3.47%
    49% 55 $7,445,000 $135,364 $3,481 3.95%

    Gecu lent most frequently to those with DTI ratios of 20-30%, with 501 originations. The next most common DTI ratio? 30-36%, with 420 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,025 $250,775,000 $123,840 $3,267 3.80%
    Not provided 384 $53,380,000 $139,010 $3,595 3.77%
    Black 13 $2,655,000 $204,231 $3,921 3.88%
    Not applicable 11 $2,525,000 $229,545 $0 4.81%
    Asian 14 $1,990,000 $142,143 $3,535 3.49%
    American Indian 3 $265,000 $88,333 $2,441 3.79%
    Native Hawaiian or Islander 2 $260,000 $130,000 $3,274 4.44%
    Filipino 1 $235,000 $235,000 $3,337 3.13%

    Approval Rates

    Total approvals of all applications
    84.68%

    Gecu has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    46.80%

    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 2,453 $312,085,000 $127,226

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 9 $2,325,000 $258,333
    Single Family (1-4 Units):Site-Built 2,444 $309,760,000 $126,743

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 183 $9,845,000 $53,798 $1,793 4.43%
    40-60% 318 $27,400,000 $86,164 $2,845 3.70%
    60-80% 718 $96,830,000 $134,861 $3,600 3.57%
    80-100% 1,118 $174,070,000 $155,698 $3,806 3.66%
    Under 20% 116 $3,940,000 $33,966 $569 5.84%