Genco Federal Credit Union Mortgage Rates, Fees & Info

Waco, TX

LEI: 549300S63J8KM7BY5617

Tax ID: 74-1200767

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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

    Genco Federal Credit Union is a smaller credit union specializing in Other, Home Purchase, and Refi loans. Genco Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Waco, Lufkin, and Nacogdoches among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Genco Federal Credit Union has a below 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

    36

    Origination Dollar Volume (All Markets)

    $4,360,000

    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
    WACO, TX (FHA|USDA|VA) 24 $3,170,000 $132,083 $0 0.00%
    Lufkin, TX (FHA|USDA|VA) 7 $635,000 $90,714 $0 0.00%
    Outside of Metro Areas 4 $490,000 $122,500 $0 0.00%
    Nacogdoches, TX (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
    Genco Federal Credit Union's top markets include Waco, Lufkin, and Nacogdoches among others.

    Their top states include:
  • Texas (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 36 $4,360,000 $121,111 $0 0.00%

    For 2023, Genco Federal Credit Union's most frequently originated type of loan was Conventional, with 36 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 12 $1,050,000 $87,500 $0 0.00%
    Home Improvement 9 $595,000 $66,111 $0 0.00%
    Home Purchase 6 $940,000 $156,667 $0 0.00%
    Refi 6 $1,510,000 $251,667 $0 0.00%
    Cash Out Refi 3 $265,000 $88,333 $0 0.00%

    For 2023, Genco Federal Credit Union's most frequently cited loan purpose was Other, with 12 originations. The 2nd most popular reason was Home Improvement, with 9 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 36 $4,360,000 $121,111 $0 0.00%

    For 2023, Genco Federal Credit Union's most frequently cited loan duration was Other, with 36 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 22 $1,600,000 $72,727 $0 0.00%
    $100k-200k 11 $1,495,000 $135,909 $0 0.00%
    $200k-400k 2 $540,000 $270,000 $0 0.00%
    $600k-1MM 1 $725,000 $725,000 $0 0.00%

    2023 saw Genco Federal Credit Union place emphasis on $100,000 or less loans with 22 originations, totaling $1,600,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 12 $970,000 $80,833 $0 0.00%
    $50k-75k 10 $1,190,000 $119,000 $0 0.00%
    $100k-150k 8 $820,000 $102,500 $0 0.00%
    $150k-250k 5 $655,000 $131,000 $0 0.00%
    $250k+ 1 $725,000 $725,000 $0 0.00%

    Genco Federal Credit Union lent most frequently to those with incomes in the $75k-100k range, with 12 originations. The second most popular income band? $50k-75k, with 10 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 36 $4,360,000 $121,111 $0 0.00%

    Genco Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 36 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 30 $3,550,000 $118,333 $0 0.00%
    Not provided 4 $660,000 $165,000 $0 0.00%
    Black 2 $150,000 $75,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    54.32%

    Genco Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    0.00%

    Genco Federal Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 36 $4,360,000 $121,111

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    36 $4,360,000 $121,111