Gte Federal Credit Union Mortgage Rates, Fees & Info
Tampa, FLLEI: 549300ZIQ24V0C88AC41
Tax ID: 59-0642956
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Mortgage Data
Review & Overview
Gte Federal Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Gte Federal Credit Union has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Tampa, Miami, North Port, Orlando, and Lakeland among others. We have data for 23 markets. (Some data included below & more in-depth data is available with an active subscription.)Gte 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. Gte Federal Credit Union is typically an average 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.63% | 11/21/24 |
| 30 Year Conventional Purchase | 6.62% | 11/21/24 |
| 30 Year Conventional Refi | 6.85% | 11/21/24 |
| 30 Year Cash-out Refi | 6.77% | 11/21/24 |
| 30 Year FHA Purchase | 7.86% | 11/21/24 |
| 30 Year VA Purchase | 6.27% | 11/21/24 |
| 15 Year Conventional Purchase | 7.41% | 11/21/24 |
| 15 Year Conventional Refi | 7.32% | 11/21/24 |
| 15 Year Cash-out Refi | 7.32% | 11/21/24 |
| 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. | ||
Gte Federal Credit Union Mortgage Calculator
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This is not an official calculator from Gte 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
2,091Origination Dollar Volume (All Markets)
$233,445,000Awards
GTE Federal Credit Union - 2018
GTE Federal Credit Union is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 714 | $117,080,000 | $163,978 | $4,230 | 4.77% |
| Outside of Metro Areas | 1,127 | $66,895,000 | $59,357 | $679 | 5.42% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 30 | $10,140,000 | $338,000 | $8,560 | 4.73% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 43 | $7,075,000 | $164,535 | $5,089 | 4.84% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 24 | $7,020,000 | $292,500 | $8,700 | 4.76% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 44 | $6,360,000 | $144,545 | $3,969 | 4.66% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 33 | $3,555,000 | $107,727 | $3,410 | 4.94% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 8 | $3,410,000 | $426,250 | $74,297 | 4.52% |
| OCALA, FL (FHA|USDA|VA) | 23 | $2,785,000 | $121,087 | $3,498 | 4.72% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 6 | $1,640,000 | $273,333 | $3,525 | 4.58% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 6 | $1,610,000 | $268,333 | $7,366 | 4.54% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 7 | $1,495,000 | $213,571 | $5,401 | 4.59% |
| GAINESVILLE, FL (FHA|USDA|VA) | 6 | $750,000 | $125,000 | $3,318 | 4.78% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $655,000 | $655,000 | $15,693 | 5.38% |
| Key West, FL (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $17,680 | 4.63% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 5 | $555,000 | $111,000 | $3,685 | 4.64% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 6 | $550,000 | $91,667 | $3,527 | 4.92% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $4,349 | 3.80% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,448 | 5.75% |
| Arcadia, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,222 | 4.00% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $4,233 | 4.75% |
| Lake City, FL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $4,215 | 4.88% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 6.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against GTE Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2018, Gte Federal Credit Union's most frequently originated type of loan was Conventional, with 1,778 originations. Their 2nd most popular type was HELOC, with 267 originations.
Loan Reason
For 2018, Gte Federal Credit Union's most frequently cited loan purpose was Refi, with 654 originations. The 2nd most popular reason was Home Purchase, with 513 originations.
Loan Duration/Length
For 2018, Gte Federal Credit Union's most frequently cited loan duration was 15 Year, with 835 originations. The 2nd most popular length was 30 Year, with 583 originations.
Origination Fees/Closing Costs
Gte Federal Credit Union's average total fees were $5,671, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 449 originations.
Interest Rates
During 2018, Gte Federal Credit Union's average interest rate for loans was 4.69%, while their most frequently originated rate bucket for loans was 4-5%, with 1,063 originations.
Loan Sizing
2018 saw Gte Federal Credit Union place emphasis on $100,000 or less loans with 1,270 originations, totaling $59,260,000 in origination value.
Applicant Income
Gte Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 547 originations. The second most popular income band? $50k or less, with 496 originations.
Applicant Debt to Income Ratio
Gte Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 521 originations. The next most common DTI ratio? 30-36%, with 436 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications71.71%
Gte Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination44.43%
Gte 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 |
|---|---|---|---|
| NA | 2,091 | $233,445,000 | $111,643 |