Gulf Credit Union Mortgage Rates, Fees & Info

Groves, TX

LEI: 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 (well, only) market is Beaumont.

Gulf Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

38

Origination Dollar Volume (All Markets)

$3,860,000

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
BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 35 $3,715,000 $106,143 $0 0.00%
Outside of Metro Areas 3 $145,000 $48,333 $0 0.00%
Gulf Credit Union's top markets include and Beaumont among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 38 $3,860,000 $101,579 $0 0.00%

    For 2023, Gulf Credit Union's most frequently originated type of loan was Conventional, with 38 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 30 $2,900,000 $96,667 $0 0.00%
    Home Purchase 8 $960,000 $120,000 $0 0.00%

    For 2023, Gulf Credit Union's most frequently cited loan purpose was Cash Out Refi, with 30 originations. The 2nd most popular reason was Home Purchase, with 8 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 38 $3,860,000 $101,579 $0 0.00%

    For 2023, Gulf Credit Union's most frequently cited loan duration was Other, with 38 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 24 $1,440,000 $60,000 $0 0.00%
    $100k-200k 9 $1,125,000 $125,000 $0 0.00%
    $200k-400k 5 $1,295,000 $259,000 $0 0.00%

    2023 saw Gulf Credit Union place emphasis on $100,000 or less loans with 24 originations, totaling $1,440,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 13 $1,215,000 $93,462 $0 0.00%
    $150k-250k 9 $1,315,000 $146,111 $0 0.00%
    $50k-75k 6 $390,000 $65,000 $0 0.00%
    $75k-100k 4 $430,000 $107,500 $0 0.00%
    $50k or less 3 $185,000 $61,667 $0 0.00%
    $250k+ 2 $230,000 $115,000 $0 0.00%

    Gulf Credit Union lent most frequently to those with incomes in the $100k-150k range, with 13 originations. The second most popular income band? $150k-250k, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 38 $3,860,000 $101,579 $0 0.00%

    Gulf Credit Union lent most frequently to those with DTI ratios of Exempt%, with 38 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 32 $3,150,000 $98,438 $0 0.00%
    Asian 1 $285,000 $285,000 $0 0.00%
    Black 3 $215,000 $71,667 $0 0.00%
    Not provided 1 $115,000 $115,000 $0 0.00%
    Not applicable 1 $95,000 $95,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.16%

    Gulf Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    71.05%

    Gulf Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 38 $3,860,000 $101,579

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    38 $3,860,000 $101,579