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 (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
38Origination Dollar Volume (All Markets)
$3,860,000Top 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) | 35 | $3,715,000 | $106,143 | $0 | 0.00% |
| Outside of Metro Areas | 3 | $145,000 | $48,333 | $0 | 0.00% |
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
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
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
Approval Rates
Total approvals of all applications90.16%
Gulf Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination71.05%
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 |