Gulf Credit Union Mortgage Rates, Fees & Info

Groves, TX

LEI: 549300JPKIA8GCDBEI29

Tax ID: 74-1110172

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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 markets by origination volume include: Beaumont, Houston, and Lufkin among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    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.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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    Originations

    38

    Origination Dollar Volume (All Markets)

    $4,200,000

    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) 32 $3,640,000 $113,750 $0 0.00%
    Outside of Metro Areas 4 $440,000 $110,000 $0 0.00%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.00%
    Lufkin, TX (FHA|USDA|VA) 1 $25,000 $25,000 $0 0.00%
    Gulf Credit Union's top markets include Beaumont, Houston, and Lufkin 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 $4,200,000 $110,526 $0 0.00%

    For 2020, 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 32 $3,350,000 $104,688 $0 0.00%
    Home Purchase 6 $850,000 $141,667 $0 0.00%

    For 2020, Gulf Credit Union's most frequently cited loan purpose was Cash Out Refi, with 32 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 38 $4,200,000 $110,526 $0 0.00%

    For 2020, 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 22 $1,230,000 $55,909 $0 0.00%
    $100k-200k 11 $1,325,000 $120,455 $0 0.00%
    $200k-400k 3 $665,000 $221,667 $0 0.00%
    $400k-600k 2 $980,000 $490,000 $0 0.00%

    2020 saw Gulf Credit Union place emphasis on $100,000 or less loans with 22 originations, totaling $1,230,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 9 $845,000 $93,889 $0 0.00%
    $100k-150k 8 $690,000 $86,250 $0 0.00%
    $75k-100k 7 $755,000 $107,857 $0 0.00%
    $50k-75k 4 $310,000 $77,500 $0 0.00%
    $50k or less 4 $320,000 $80,000 $0 0.00%

    Gulf Credit Union lent most frequently to those with incomes in the $150k-250k range, with 9 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% 38 $4,200,000 $110,526 $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 28 $2,550,000 $91,071 $0 0.00%
    Not applicable 6 $1,280,000 $213,333 $0 0.00%
    Asian 1 $205,000 $205,000 $0 0.00%
    Black 3 $165,000 $55,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    81.03%

    Gulf Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    89.47%

    Gulf Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 38 $4,200,000 $110,526

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 38 $4,200,000 $110,526