Gulf Credit Union Mortgage Rates, Fees & Info

Groves, TX

LEI: 549300JPKIA8GCDBEI29

Tax ID: 74-1110172

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    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 a below average pick rate when compared to similar lenders.

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    Originations

    33

    Origination Dollar Volume (All Markets)

    $3,655,000

    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) 31 $3,375,000 $108,871 $0 0.00%
    Outside of Metro Areas 1 $235,000 $235,000 $0 0.00%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
    Gulf Credit Union's top markets include Beaumont and Houston among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 33 $3,655,000 $110,758 $0 0.00%

    For 2018, Gulf Credit Union's most frequently originated type of loan was Conventional, with 33 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 24 $2,060,000 $85,833 $0 0.00%
    Home Purchase 6 $1,060,000 $176,667 $0 0.00%
    Refi 3 $535,000 $178,333 $0 0.00%

    For 2018, Gulf Credit Union's most frequently cited loan purpose was Cash Out Refi, with 24 originations. The 2nd most popular reason was Home Purchase, with 6 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 33 $3,655,000 $110,758 $0 0.00%

    For 2018, Gulf Credit Union's most frequently cited loan duration was Other, with 33 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 18 $1,230,000 $68,333 $0 0.00%
    $100k-200k 10 $1,250,000 $125,000 $0 0.00%
    $200k-400k 5 $1,175,000 $235,000 $0 0.00%

    2018 saw Gulf Credit Union place emphasis on $100,000 or less loans with 18 originations, totaling $1,230,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 10 $1,080,000 $108,000 $0 0.00%
    $100k-150k 8 $940,000 $117,500 $0 0.00%
    $50k-75k 8 $900,000 $112,500 $0 0.00%
    $150k-250k 3 $365,000 $121,667 $0 0.00%
    $50k or less 3 $295,000 $98,333 $0 0.00%

    Gulf Credit Union lent most frequently to those with incomes in the $75k-100k range, with 10 originations. The second most popular income band? $100k-150k, with 8 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 33 $3,655,000 $110,758 $0 0.00%

    Gulf Credit Union lent most frequently to those with DTI ratios of Exempt%, with 33 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 31 $3,455,000 $111,452 $0 0.00%
    Asian 1 $125,000 $125,000 $0 0.00%
    Not applicable 1 $75,000 $75,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    84.62%

    Gulf Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    78.79%

    Gulf Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 33 $3,655,000 $110,758

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 33 $3,655,000 $110,758

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Gulf Coast Real Estate Emerald Coast, LLC, d/b/a Motto Mortgage On The Gulf Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%