Generations Community Federal Credit Union Mortgage Rates, Fees & Info

San Antonio, TX

LEI: 549300UX6CADCIYJ3506

Tax ID: 74-1117333

5 stars - Updated: 3/3/24 - out of 5 stars, based on 20 reviews

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

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Mortgage Data

Review & Overview

Generations Community Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Generations Community Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: San Antonio, Austin, Houston, College Station, and Cape Coral among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

Generations Community 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. Generations Community Federal Credit Union is typically a low 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.23% 3/3/24
30 Year Conventional Refi 6.22% 3/3/24
30 Year Cash-out Refi 6.79% 3/3/24
15 Year Conventional Purchase 5.81% 3/3/24
15 Year Conventional Refi 5.69% 3/3/24
15 Year Cash-out Refi 5.69% 3/3/24
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.

Generations Community Federal Credit Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Generations Community Federal Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

393

Origination Dollar Volume (All Markets)

$58,565,000

Awards

Generations Community Federal Credit Union 30 Year Conventional Loans gold Generations Community Federal Credit Union 30 Year Conventional Loans bronze
Show all (2) awards

Relative Rate

Generations Community Federal Credit Union's average 30 year fixed mortgage rate was 4.35%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of -0.41%.

Relative Fees (Closing Costs)

Generations Community Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $4,358.

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.

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
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 376 $54,550,000 $145,080 $1,383 4.44%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 4 $1,510,000 $377,500 $6,723 6.02%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 3 $575,000 $191,667 $1,468 4.24%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 3 $535,000 $178,333 $2,310 5.33%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $345,000 $345,000 $4,461 3.88%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $245,000 $245,000 $0 6.24%
CORPUS CHRISTI, TX (FHA|USDA|VA) 1 $215,000 $215,000 $3,926 5.05%
Rockport, TX (FHA|USDA|VA) 1 $205,000 $205,000 $4,494 4.70%
LUBBOCK, TX (FHA|USDA|VA) 1 $205,000 $205,000 $3,528 3.38%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $145,000 $145,000 $0 3.86%
Outside of Metro Areas 1 $35,000 $35,000 $0 4.10%
Generations Community Federal Credit Union's top markets include San Antonio, Austin, Houston, College Station, and Cape Coral among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Generations Community Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    AAXY L.L.C.
    Similarity Rank: 324
    ALL WESTERN MORTGAGE, INC.
    Similarity Rank: 546
    CAPITAL PLUS FINANCIAL, LLC
    Similarity Rank: 666
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 780
    OCEANSIDE MORTGAGE COMPANY
    Similarity Rank: 980
    HOME FINANCING UNLIMITED, INC.
    Similarity Rank: 1474
    PRIORITY HOME MORTGAGE, L.P.
    Similarity Rank: 1608
    Opendoor Home Loans LLC
    Similarity Rank: 1620
    FC LENDING, LTD.
    Similarity Rank: 1756

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 376 $56,670,000 $150,718 $1,443 4.38%
    HELOC 17 $1,895,000 $111,471 n/a 6.24%

    For 2022, Generations Community Federal Credit Union's most frequently originated type of loan was Conventional, with 376 originations. Their 2nd most popular type was HELOC, with 17 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 315 $38,365,000 $121,794 $699 4.55%
    Home Purchase 55 $16,705,000 $303,727 $4,701 4.53%
    Refi 23 $3,495,000 $151,957 $3,013 3.17%

    For 2022, Generations Community Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 315 originations. The 2nd most popular reason was Home Purchase, with 55 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 169 $15,605,000 $92,337 $764 4.40%
    20 Year 97 $13,345,000 $137,577 $1,143 4.81%
    30 Year 63 $17,535,000 $278,333 $4,358 4.35%
    10 Year 34 $2,520,000 $74,118 $478 4.30%
    Other 20 $8,890,000 $444,500 $333 4.54%
    5 Year 10 $670,000 $67,000 $254 3.33%

    For 2022, Generations Community Federal Credit Union's most frequently cited loan duration was 15 Year, with 169 originations. The 2nd most popular length was 20 Year, with 97 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 345 $44,995,000 $130,420
    $1k-2k 8 $1,410,000 $176,250
    $2k-3k 3 $625,000 $208,333
    $3k-4k 3 $635,000 $211,667
    $4k-5k 2 $170,000 $85,000
    $5k+ 1 $85,000 $85,000

    Generations Community Federal Credit Union's average total fees were $4,358, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 345 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 133 $15,145,000 $113,872
    4-5% 118 $22,700,000 $192,373
    5-6% 74 $11,200,000 $151,351
    6-7% 32 $3,420,000 $106,875
    2.5-3% 21 $3,595,000 $171,190
    7-8% 9 $1,375,000 $152,778
    <2.5% 5 $875,000 $175,000
    % 1 $255,000 $255,000

    During 2022, Generations Community Federal Credit Union's average interest rate for loans was 4.35%, while their most frequently originated rate bucket for loans was 3-4%, with 133 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 203 $12,445,000 $61,305 $713 4.46%
    $100k-200k 116 $16,020,000 $138,103 $1,229 4.48%
    $200k-400k 54 $14,700,000 $272,222 $3,477 4.39%
    $400k-600k 17 $8,315,000 $489,118 $5,370 4.66%
    $600k-1MM 2 $1,280,000 $640,000 $6,548 4.59%
    $1MM+ 1 $5,805,000 $5,805,000 $0 4.25%

    2022 saw Generations Community Federal Credit Union place emphasis on $100,000 or less loans with 203 originations, totaling $12,445,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 16 $3,840,000 $240,000 $4,282 3.95%
    $75k-100k 16 $3,340,000 $208,750 $3,035 3.91%
    $150k-250k 14 $5,440,000 $388,571 $5,571 5.36%
    $100k-150k 13 $3,535,000 $271,923 $4,415 4.96%
    $50k-75k 11 $1,875,000 $170,455 $3,408 4.14%
    $250k+ 4 $1,360,000 $340,000 $4,488 5.01%

    Generations Community Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 16 originations. The second most popular income band? $75k-100k, with 16 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 6 $740,000 $123,333 $1,632 3.86%
    44% 4 $360,000 $90,000 $433 4.50%
    30-36% 4 $680,000 $170,000 $4,498 5.30%
    40% 3 $445,000 $148,333 $3,293 3.41%
    48% 2 $650,000 $325,000 $3,464 3.50%
    39% 2 $460,000 $230,000 $2,481 4.76%
    43% 1 $95,000 $95,000 $3,567 3.63%
    41% 1 $195,000 $195,000 $5,119 4.00%
    <20% 1 $85,000 $85,000 $8,291 5.99%

    Generations Community Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 6 originations. The next most common DTI ratio? 44%, with 4 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 300 $37,910,000 $126,367 $1,354 4.45%
    Not applicable 12 $8,570,000 $714,167 $0 4.96%
    Not provided 45 $8,515,000 $189,222 $2,135 4.45%
    Black 22 $2,220,000 $100,909 $1,163 4.54%
    American Indian 10 $990,000 $99,000 $1,913 4.26%
    Asian 3 $335,000 $111,667 $267 3.97%
    Vietnamese 1 $25,000 $25,000 $0 6.24%

    Approval Rates

    Total approvals of all applications
    71.84%

    Generations Community Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    86.51%

    Generations Community Federal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 393 $58,565,000 $149,020

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    393 $58,565,000 $149,020

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 7 $765,000 $109,286 $1,021 4.93%
    40-60% 5 $945,000 $189,000 $2,453 4.06%
    60-80% 16 $9,080,000 $567,500 $3,742 4.58%
    80-100% 6 $1,380,000 $230,000 $4,819 4.51%
    Under 20% 2 $110,000 $55,000 $450 3.56%