Gateway Metro Federal Credit Union Mortgage Rates, Fees & Info
Shiloh, ILLEI: 549300YOCINIK5RN6R57
Tax ID: 43-0548125
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Mortgage Data
Review & Overview
Gateway Metro Federal Credit Union is a smaller credit union specializing in Home Purchase loans. Gateway Metro Federal Credit Union has a high proportion of conventional loans. Their top (well, only) market is St. Louis.Gateway Metro Federal Credit Union has a below average approval rate when compared to the average across all lenders. Gateway Metro 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.59% | 12/16/24 |
| 30 Year Conventional Refi | 5.98% | 12/16/24 |
| 30 Year Cash-out Refi | 6.52% | 12/16/24 |
| 15 Year Conventional Purchase | 5.86% | 12/16/24 |
| 15 Year Conventional Refi | 5.74% | 12/16/24 |
| 15 Year Cash-out Refi | 5.74% | 12/16/24 |
| 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. | ||
Gateway Metro 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 Gateway Metro 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
1Origination Dollar Volume (All Markets)
$275,000Top 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 |
|---|---|---|---|---|---|
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,236 | 3.38% |
Similar Lenders
We use machine learning to identify the top lenders compared against Gateway Metro Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 328
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Similarity Rank: 910
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Similarity Rank: 1010
Similarity Rank: 1102
Similarity Rank: 1260
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 1 | $275,000 | $275,000 | $3,236 | 3.38% |
For 2021, Gateway Metro Federal Credit Union's most frequently originated type of loan was Conventional, with 1 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 1 | $275,000 | $275,000 | $3,236 | 3.38% |
For 2021, Gateway Metro Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 1 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 1 | $275,000 | $275,000 | $3,236 | 3.38% |
For 2021, Gateway Metro Federal Credit Union's most frequently cited loan duration was 30 Year, with 1 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 1 | $275,000 | $275,000 |
Gateway Metro Federal Credit Union's average total fees were $3,236, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 1 | $275,000 | $275,000 |
During 2021, Gateway Metro Federal Credit Union's average interest rate for loans was 3.38%, while their most frequently originated rate bucket for loans was 3-4%, with 1 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 1 | $275,000 | $275,000 | $3,236 | 3.38% |
2021 saw Gateway Metro Federal Credit Union place emphasis on $200k-400k loans with 1 originations, totaling $275,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k-75k | 1 | $275,000 | $275,000 | $3,236 | 3.38% |
Gateway Metro Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 1 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 40% | 1 | $275,000 | $275,000 | $3,236 | 3.38% |
Gateway Metro Federal Credit Union lent most frequently to those with DTI ratios of 40%, with 1 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not provided | 1 | $275,000 | $275,000 | $3,236 | 3.38% |
Approval Rates
Total approvals of all applications50.00%
Gateway Metro Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1 | $275,000 | $275,000 |