Gecu Mortgage Rates, Fees & Info

El Paso, TX

LEI: 549300IV3BQZRSE82O16

Tax ID: 74-0650998

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

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Mortgage Data

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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.27% 3/28/24
30 Year Conventional Purchase 7.00% 3/28/24
30 Year Conventional Refi 6.66% 3/28/24
30 Year Cash-out Refi 9.23% 3/28/24
30 Year FHA Purchase 6.27% 3/28/24
30 Year VA Purchase 6.27% 3/28/24
15 Year Conventional Purchase 7.06% 3/28/24
15 Year Conventional Refi 6.09% 3/28/24
15 Year Cash-out Refi 6.09% 3/28/24
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

2,072

Origination Dollar Volume (All Markets)

$270,730,000

Awards

GECU 30 Year Conventional Loans gold
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) 1,992 $257,670,000 $129,352 $2,795 3.55%
Outside of Metro Areas 80 $13,060,000 $163,250 $3,310 3.51%
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: 124
    EVOLVE
    Similarity Rank: 272
    EL PASO AREA TEACHERS
    Similarity Rank: 510
    PATRIOT MORTGAGE COMPANY
    Similarity Rank: 696
    Citizens Bank of Las Cruces
    Similarity Rank: 1024
    First American Bank
    Similarity Rank: 1054
    Rocky Mountain Mortgage Company
    Similarity Rank: 1290
    SECURITY SERVICE
    Similarity Rank: 1344
    FirstLight Federal Credit Union
    Similarity Rank: 1560
    CADENCE LENDING GROUP, INC.
    Similarity Rank: 1924

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,072 $270,730,000 $130,661 $2,815 3.55%

    For 2021, Gecu's most frequently originated type of loan was Conventional, with 2,072 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 814 $138,610,000 $170,283 $3,255 3.52%
    Refi 792 $96,050,000 $121,275 $2,956 2.76%
    Cash Out Refi 227 $22,095,000 $97,335 $2,277 4.89%
    Home Improvement 178 $11,020,000 $61,910 $1,467 5.04%
    Other 61 $2,955,000 $48,443 $1,100 4.99%

    For 2021, Gecu's most frequently cited loan purpose was Home Purchase, with 814 originations. The 2nd most popular reason was Refi, with 792 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 918 $148,940,000 $162,244 $3,216 3.57%
    15 Year 691 $75,625,000 $109,443 $2,777 3.34%
    20 Year 247 $27,055,000 $109,534 $2,383 3.77%
    10 Year 138 $9,680,000 $70,145 $1,671 4.02%
    Other 47 $6,135,000 $130,532 $2,385 3.36%
    5 Year 31 $3,295,000 $106,290 $877 4.34%

    For 2021, Gecu's most frequently cited loan duration was 30 Year, with 918 originations. The 2nd most popular length was 15 Year, with 691 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,359 $155,325,000 $114,294
    $1k-2k 315 $37,395,000 $118,714
    $2k-3k 268 $42,370,000 $158,097
    $3k-4k 86 $18,540,000 $215,581
    $4k-5k 19 $5,495,000 $289,211
    $5k+ 13 $5,425,000 $417,308

    Gecu's average total fees were $3,216, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,359 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 655 $98,845,000 $150,908
    3-4% 474 $68,860,000 $145,274
    <2.5% 391 $50,605,000 $129,425
    4-5% 281 $26,705,000 $95,036
    5-6% 195 $20,045,000 $102,795
    6-7% 30 $2,210,000 $73,667
    7-8% 23 $1,855,000 $80,652
    Over 8% 23 $1,605,000 $69,783

    During 2021, Gecu's average interest rate for loans was 3.57%, while their most frequently originated rate bucket for loans was 2.5-3%, with 655 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 990 $141,220,000 $142,646 $2,997 3.32%
    $100,000 or less 794 $50,370,000 $63,438 $1,965 4.00%
    $200k-400k 270 $66,710,000 $247,074 $4,334 3.15%
    $400k-600k 14 $6,550,000 $467,857 $8,195 2.77%
    $1MM+ 3 $5,115,000 $1,705,000 $0 3.73%
    $600k-1MM 1 $765,000 $765,000 $14,095 3.38%

    2021 saw Gecu place emphasis on $100k-200k loans with 990 originations, totaling $141,220,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 612 $74,490,000 $121,716 $2,659 3.50%
    $50k or less 563 $53,565,000 $95,142 $2,416 3.63%
    $100k-150k 371 $56,515,000 $152,332 $3,141 3.50%
    $75k-100k 353 $47,905,000 $135,708 $2,882 3.56%
    $150k-250k 136 $24,090,000 $177,132 $3,554 3.67%
    $250k+ 28 $8,220,000 $293,571 $5,475 3.08%

    Gecu lent most frequently to those with incomes in the $50k-75k range, with 612 originations. The second most popular income band? $50k or less, with 563 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 377 $51,155,000 $135,690 $2,960 3.34%
    20-30% 368 $50,650,000 $137,636 $2,998 3.24%
    <20% 185 $20,055,000 $108,405 $2,578 3.39%
    50-60% 156 $15,810,000 $101,346 $2,261 4.56%
    >60% 110 $9,010,000 $81,909 $1,989 5.16%
    38% 79 $11,075,000 $140,190 $2,738 3.36%
    46% 75 $9,725,000 $129,667 $2,984 3.59%
    43% 73 $10,435,000 $142,945 $2,811 3.35%
    44% 70 $9,700,000 $138,571 $3,095 3.28%
    41% 66 $7,750,000 $117,424 $2,751 3.62%
    42% 66 $10,080,000 $152,727 $3,421 3.30%
    37% 64 $8,740,000 $136,563 $2,898 3.44%
    36% 61 $8,175,000 $134,016 $2,840 3.19%
    48% 58 $7,430,000 $128,103 $2,891 3.54%
    49% 58 $7,540,000 $130,000 $3,088 3.34%
    39% 55 $7,325,000 $133,182 $2,823 3.37%
    47% 49 $6,765,000 $138,061 $2,885 3.36%
    45% 47 $6,795,000 $144,574 $2,994 3.85%
    40% 46 $6,570,000 $142,826 $2,774 3.35%

    Gecu lent most frequently to those with DTI ratios of 30-36%, with 377 originations. The next most common DTI ratio? 20-30%, with 368 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,766 $221,900,000 $125,651 $2,781 3.55%
    Not provided 266 $38,670,000 $145,376 $3,026 3.48%
    Not applicable 8 $5,840,000 $730,000 $0 4.32%
    Asian 11 $1,895,000 $172,273 $3,140 3.65%
    Black 12 $1,490,000 $124,167 $2,871 4.04%
    American Indian 7 $765,000 $109,286 $2,845 4.25%
    Native Hawaiian or Islander 1 $85,000 $85,000 $3,247 4.25%
    Filipino 1 $85,000 $85,000 $2,081 4.75%

    Approval Rates

    Total approvals of all applications
    84.60%

    Gecu has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    43.34%

    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 2,072 $270,730,000 $130,661

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,072 $270,730,000 $130,661

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 214 $12,030,000 $56,215 $1,668 4.04%
    40-60% 331 $31,875,000 $96,299 $2,615 3.47%
    60-80% 642 $91,060,000 $141,838 $3,014 3.32%
    80-100% 766 $131,690,000 $171,919 $3,378 3.39%
    Under 20% 119 $4,075,000 $34,244 $733 5.16%