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 Cash Out Refi and Home Improvement loans. Genco Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Waco, Lufkin, and Killeen 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

    66

    Origination Dollar Volume (All Markets)

    $4,910,000

    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) 50 $3,490,000 $69,800 $0 0.00%
    Lufkin, TX (FHA|USDA|VA) 13 $935,000 $71,923 $0 0.00%
    KILLEEN-TEMPLE, TX (FHA|USDA|VA) 2 $370,000 $185,000 $0 0.00%
    Outside of Metro Areas 1 $115,000 $115,000 $0 0.00%
    Genco Federal Credit Union's top markets include Waco, Lufkin, and Killeen among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 66 $4,910,000 $74,394 $0 0.00%

    For 2018, Genco Federal Credit Union's most frequently originated type of loan was Conventional, with 66 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 26 $2,310,000 $88,846 $0 0.00%
    Home Improvement 22 $1,110,000 $50,455 $0 0.00%
    Home Purchase 8 $960,000 $120,000 $0 0.00%
    Other 7 $295,000 $42,143 $0 0.00%
    Refi 3 $235,000 $78,333 $0 0.00%

    For 2018, Genco Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 26 originations. The 2nd most popular reason was Home Improvement, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 66 $4,910,000 $74,394 $0 0.00%

    For 2018, Genco Federal Credit Union's most frequently cited loan duration was Other, with 66 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 51 $2,755,000 $54,020 $0 0.00%
    $100k-200k 13 $1,715,000 $131,923 $0 0.00%
    $200k-400k 2 $440,000 $220,000 $0 0.00%

    2018 saw Genco Federal Credit Union place emphasis on $100,000 or less loans with 51 originations, totaling $2,755,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 20 $1,500,000 $75,000 $0 0.00%
    $50k-75k 19 $1,435,000 $75,526 $0 0.00%
    $50k or less 12 $650,000 $54,167 $0 0.00%
    $100k-150k 10 $1,000,000 $100,000 $0 0.00%
    $150k-250k 5 $325,000 $65,000 $0 0.00%

    Genco Federal Credit Union lent most frequently to those with incomes in the $75k-100k range, with 20 originations. The second most popular income band? $50k-75k, with 19 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 66 $4,910,000 $74,394 $0 0.00%

    Genco Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 66 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 51 $3,875,000 $75,980 $0 0.00%
    Not provided 9 $535,000 $59,444 $0 0.00%
    Asian 2 $280,000 $140,000 $0 0.00%
    American Indian 2 $110,000 $55,000 $0 0.00%
    Black 2 $110,000 $55,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    53.04%

    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
    56.06%

    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 66 $4,910,000 $74,394

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 66 $4,910,000 $74,394