Gain Federal Credit Union Mortgage Rates, Fees & Info
Burbank, CALEI: 549300M0SDF90SCNIY89
Tax ID: 95-1684020
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Mortgage Data
Review & Overview
Gain Federal Credit Union is a smaller credit union specializing in Home Improvement, Cash Out Refi, and Home Purchase loans. Gain Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, Oxnard, Lake Havasu City, and San Diego among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)Gain Federal 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. Gain Federal Credit Union is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 11/22/24 |
| 30 Year Conventional Purchase | 5.48% | 11/22/24 |
| 30 Year Conventional Refi | 5.68% | 11/22/24 |
| 30 Year Cash-out Refi | 5.62% | 11/22/24 |
| 15 Year Conventional Purchase | 5.69% | 11/22/24 |
| 15 Year Conventional Refi | 5.09% | 11/22/24 |
| 15 Year Cash-out Refi | 5.09% | 11/22/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Gain Federal Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
268Origination Dollar Volume (All Markets)
$59,240,000Awards
Gain Federal Credit Union - 2022
Gain Federal Credit Union is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 224 | $49,600,000 | $221,429 | $3,269 | 3.32% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 18 | $4,220,000 | $234,444 | $3,979 | 3.18% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 8 | $1,560,000 | $195,000 | $3,124 | 3.06% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 3 | $1,355,000 | $451,667 | $6,719 | 3.08% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $4,055 | 4.38% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $7,377 | 3.00% |
| BOISE CITY, ID (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $10,221 | 4.25% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $4,371 | 3.50% |
| SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,854 | 3.50% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 3 | $165,000 | $55,000 | $0 | 2.91% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,962 | 4.75% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 3.75% |
| MADERA, CA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 3.75% |
| RENO, NV (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 5.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against Gain Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 159 | $45,995,000 | $289,277 | $3,377 | 3.55% |
| HELOC | 109 | $13,245,000 | $121,514 | n/a | 2.99% |
For 2022, Gain Federal Credit Union's most frequently originated type of loan was Conventional, with 159 originations. Their 2nd most popular type was HELOC, with 109 originations.
Loan Reason
For 2022, Gain Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 127 originations. The 2nd most popular reason was Other, with 63 originations.
Loan Duration/Length
For 2022, Gain Federal Credit Union's most frequently cited loan duration was Other, with 109 originations. The 2nd most popular length was 30 Year, with 58 originations.
Origination Fees/Closing Costs
Gain Federal Credit Union's average total fees were $8,263, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 99 originations.
Interest Rates
During 2022, Gain Federal Credit Union's average interest rate for loans was 3.43%, while their most frequently originated rate bucket for loans was 2.5-3%, with 164 originations.
Loan Sizing
2022 saw Gain Federal Credit Union place emphasis on $100k-200k loans with 86 originations, totaling $11,190,000 in origination value.
Applicant Income
Gain Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 92 originations. The second most popular income band? $100k-150k, with 85 originations.
Applicant Debt to Income Ratio
Gain Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 44 originations. The next most common DTI ratio? 30-36%, with 44 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications81.52%
Gain Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination70.15%
Gain Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 268 | $59,240,000 | $221,045 |