General Electric Credit Union Mortgage Rates, Fees & InfoCincinnati, OH
Tax ID: 31-0568628
Latest/2021 | 2020 Data | 2019 Data | 2018 Data
Review & OverviewGeneral Electric Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. General Electric Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Cincinnati, Columbus, Dayton, North Port, and Crestview among others. We have data for 24 markets. (Some data included below & more in-depth data is available with an active subscription.)
General Electric Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. General Electric 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.
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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.38%||3/19/23|
|30 Year Conventional Refi||6.33%||3/19/23|
|30 Year Cash-out Refi||6.46%||3/19/23|
|15 Year Conventional Purchase||6.18%||3/19/23|
|15 Year Conventional Refi||6.01%||3/19/23|
|15 Year Cash-out Refi||6.01%||3/19/23|
|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.|
Origination Dollar Volume (All Markets)$473,475,000
General Electric Credit Union's average 30 year fixed mortgage rate was
The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.
This yields a difference of -0.29%.
Relative Fees (Closing Costs)
General Electric Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,109.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.
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|
|CINCINNATI, OH-KY-IN (FHA|USDA|VA)||1,235||$369,695,000||$299,348||$2,609||2.90%|
|COLUMBUS, OH (FHA|USDA|VA)||11||$52,655,000||$4,786,818||$2,153||3.25%|
|DAYTON-KETTERING, OH (FHA|USDA|VA)||33||$32,655,000||$989,545||$2,414||3.12%|
|Outside of Metro Areas||18||$4,700,000||$261,111||$2,540||2.70%|
|North Port-Sarasota-Bradenton, FL (FHA|USDA|VA)||4||$3,950,000||$987,500||$7,899||3.09%|
|CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA)||2||$2,650,000||$1,325,000||$9,389||3.00%|
|NAPLES-MARCO ISLAND, FL (FHA|USDA|VA)||2||$1,480,000||$740,000||$7,307||2.44%|
|LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA)||2||$1,030,000||$515,000||$1,753||2.75%|
|TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA)||2||$970,000||$485,000||$3,918||3.13%|
|KNOXVILLE, TN (FHA|USDA|VA)||1||$725,000||$725,000||$1,801||2.50%|
|CLEVELAND-ELYRIA, OH (FHA|USDA|VA)||3||$425,000||$141,667||$2,154||2.54%|
|Wilmington, OH (FHA|USDA|VA)||3||$405,000||$135,000||$1,207||2.63%|
|Madison, IN (FHA|USDA|VA)||2||$370,000||$185,000||$2,194||2.75%|
|CANTON-MASSILLON, OH (FHA|USDA|VA)||1||$335,000||$335,000||$1,781||3.13%|
|HOMOSASSA SPRINGS, FL (FHA|USDA|VA)||1||$245,000||$245,000||$2,758||2.50%|
|CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA)||1||$225,000||$225,000||$3,484||2.50%|
|CLARKSVILLE, TN-KY (FHA|USDA|VA)||1||$215,000||$215,000||$3,502||2.88%|
|Central City, KY (FHA|USDA|VA)||1||$185,000||$185,000||$1,982||2.38%|
|PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA)||1||$165,000||$165,000||$4,854||2.63%|
|COLUMBUS, IN (FHA|USDA|VA)||1||$125,000||$125,000||$974||2.38%|
|Athens, OH (FHA|USDA|VA)||1||$105,000||$105,000||$3,307||2.75%|
|Maysville, KY (FHA|USDA|VA)||1||$85,000||$85,000||$1,530||2.50%|
|Greenville, OH (FHA|USDA|VA)||1||$55,000||$55,000||$653||2.50%|
|INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA)||1||$25,000||$25,000||$0||2.49%|
We use machine learning to identify the top lenders compared against GENERAL ELECTRIC 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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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2021, General Electric Credit Union's most frequently originated type of loan was Conventional, with 1,047 originations. Their 2nd most popular type was HELOC, with 282 originations.
For 2021, General Electric Credit Union's most frequently cited loan purpose was Refi, with 729 originations. The 2nd most popular reason was Other, with 319 originations.
For 2021, General Electric Credit Union's most frequently cited loan duration was 15 Year, with 421 originations. The 2nd most popular length was 30 Year, with 413 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
General Electric Credit Union's average total fees were $4,109, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 722 originations.
|Loan Rate||Originations||Total Value||Average Loan|
During 2021, General Electric Credit Union's average interest rate for loans was 2.86%, while their most frequently originated rate bucket for loans was <2.5%, with 609 originations.
2021 saw General Electric Credit Union place emphasis on $100,000 or less loans with 426 originations, totaling $23,360,000 in origination value.
General Electric Credit Union lent most frequently to those with incomes in the $100k-150k range, with 296 originations. The second most popular income band? $150k-250k, with 267 originations.
Applicant Debt to Income Ratio
General Electric Credit Union lent most frequently to those with DTI ratios of 20-30%, with 423 originations. The next most common DTI ratio? <20%, with 287 originations.
Approval RatesTotal approvals of all applications
General Electric Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick RateApprovals leading to origination
General Electric Credit Union has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|