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 average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders.
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Originations
54Origination Dollar Volume (All Markets)
$7,150,000Top 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) | 49 | $6,395,000 | $130,510 | $0 | 0.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 3 | $605,000 | $201,667 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $150,000 | $75,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 54 | $7,150,000 | $132,407 | $0 | 0.00% |
For 2022, Gulf Credit Union's most frequently originated type of loan was Conventional, with 54 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 42 | $5,200,000 | $123,810 | $0 | 0.00% |
| Home Purchase | 11 | $1,895,000 | $172,273 | $0 | 0.00% |
| Refi | 1 | $55,000 | $55,000 | $0 | 0.00% |
For 2022, Gulf Credit Union's most frequently cited loan purpose was Cash Out Refi, with 42 originations. The 2nd most popular reason was Home Purchase, with 11 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 54 | $7,150,000 | $132,407 | $0 | 0.00% |
For 2022, Gulf Credit Union's most frequently cited loan duration was Other, with 54 originations.
Loan Sizing
2022 saw Gulf Credit Union place emphasis on $100,000 or less loans with 23 originations, totaling $1,625,000 in origination value.
Applicant Income
Gulf Credit Union lent most frequently to those with incomes in the $100k-150k range, with 18 originations. The second most popular income band? $150k-250k, with 17 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 54 | $7,150,000 | $132,407 | $0 | 0.00% |
Gulf Credit Union lent most frequently to those with DTI ratios of Exempt%, with 54 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications88.46%
Gulf Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination90.74%
Gulf Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 54 | $7,150,000 | $132,407 |