Gulf Credit Union Mortgage Rates, Fees & Info
Groves, TXLEI: 549300JPKIA8GCDBEI29
Tax ID: 74-1110172
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Mortgage Data
Review & Overview
Gulf Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Gulf Credit Union has a high proportion of conventional loans. Their top two markets are Beaumont and Houston .Gulf Credit Union has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders.
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Originations
50Origination Dollar Volume (All Markets)
$5,840,000Top 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 |
|---|---|---|---|---|---|
| BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) | 44 | $4,830,000 | $109,773 | $0 | 0.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 4 | $560,000 | $140,000 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $450,000 | $225,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 50 | $5,840,000 | $116,800 | $0 | 0.00% |
For 2024, Gulf Credit Union's most frequently originated type of loan was Conventional, with 50 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 40 | $4,050,000 | $101,250 | $0 | 0.00% |
| Home Purchase | 9 | $1,665,000 | $185,000 | $0 | 0.00% |
| Refi | 1 | $125,000 | $125,000 | $0 | 0.00% |
For 2024, Gulf Credit Union's most frequently cited loan purpose was Cash Out Refi, with 40 originations. The 2nd most popular reason was Home Purchase, with 9 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 50 | $5,840,000 | $116,800 | $0 | 0.00% |
For 2024, Gulf Credit Union's most frequently cited loan duration was Other, with 50 originations.
Loan Sizing
2024 saw Gulf Credit Union place emphasis on $100,000 or less loans with 25 originations, totaling $1,565,000 in origination value.
Applicant Income
Gulf Credit Union lent most frequently to those with incomes in the $100k-150k range, with 19 originations. The second most popular income band? $150k-250k, with 10 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 50 | $5,840,000 | $116,800 | $0 | 0.00% |
Gulf Credit Union lent most frequently to those with DTI ratios of Exempt%, with 50 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications84.85%
Gulf Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination94.00%
Gulf Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 50 | $5,840,000 | $116,800 |