Genco Federal Credit Union Mortgage Rates, Fees & Info
Waco, TXLEI: 549300S63J8KM7BY5617
Tax ID: 74-1200767
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Genco Federal Credit Union is a smaller credit union specializing in Refi loans. Genco Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Waco, Lufkin, Killeen, San Antonio, and Tyler among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Genco 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.
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Originations
60Origination 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 |
|---|---|---|---|---|---|
| WACO, TX (FHA|USDA|VA) | 38 | $4,800,000 | $126,316 | $0 | 0.00% |
| Lufkin, TX (FHA|USDA|VA) | 17 | $1,725,000 | $101,471 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $380,000 | $190,000 | $0 | 0.00% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| TYLER, TX (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 60 | $7,150,000 | $119,167 | $0 | 0.00% |
For 2021, Genco Federal Credit Union's most frequently originated type of loan was Conventional, with 60 originations.
Loan Reason
For 2021, Genco Federal Credit Union's most frequently cited loan purpose was Refi, with 28 originations. The 2nd most popular reason was Home Improvement, with 13 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 60 | $7,150,000 | $119,167 | $0 | 0.00% |
For 2021, Genco Federal Credit Union's most frequently cited loan duration was Other, with 60 originations.
Loan Sizing
2021 saw Genco Federal Credit Union place emphasis on $100,000 or less loans with 27 originations, totaling $1,595,000 in origination value.
Applicant Income
Genco Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 18 originations. The second most popular income band? $50k or less, with 14 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 60 | $7,150,000 | $119,167 | $0 | 0.00% |
Genco Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 60 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 48 | $5,880,000 | $122,500 | $0 | 0.00% |
| Not provided | 11 | $1,235,000 | $112,273 | $0 | 0.00% |
| Black | 1 | $35,000 | $35,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications70.83%
Genco Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination35.00%
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 | 60 | $7,150,000 | $119,167 |