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 above average approval rate when compared to the average across all lenders.
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Originations
28Origination Dollar Volume (All Markets)
$2,460,000Top 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) | 26 | $2,330,000 | $89,615 | $0 | 0.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $35,000 | $35,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 28 | $2,460,000 | $87,857 | $0 | 0.00% |
For 2019, Gulf Credit Union's most frequently originated type of loan was Conventional, with 28 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 19 | $1,405,000 | $73,947 | $0 | 0.00% |
| Home Purchase | 6 | $750,000 | $125,000 | $0 | 0.00% |
| Refi | 3 | $305,000 | $101,667 | $0 | 0.00% |
For 2019, Gulf Credit Union's most frequently cited loan purpose was Cash Out Refi, with 19 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 | 28 | $2,460,000 | $87,857 | $0 | 0.00% |
For 2019, Gulf Credit Union's most frequently cited loan duration was Other, with 28 originations.
Loan Sizing
2019 saw Gulf Credit Union place emphasis on $100,000 or less loans with 21 originations, totaling $1,335,000 in origination value.
Applicant Income
Gulf Credit Union lent most frequently to those with incomes in the $50k-75k range, with 12 originations. The second most popular income band? $150k-250k, with 5 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 28 | $2,460,000 | $87,857 | $0 | 0.00% |
Gulf Credit Union lent most frequently to those with DTI ratios of Exempt%, with 28 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 27 | $2,345,000 | $86,852 | $0 | 0.00% |
| Black | 1 | $115,000 | $115,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications90.70%
Gulf Credit Union has an average approval rate.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 28 | $2,460,000 | $87,857 |