Gte Federal Credit Union Mortgage Rates, Fees & Info

Tampa, FL

LEI: 549300ZIQ24V0C88AC41

Tax ID: 59-0642956

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • 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

    Gte Federal Credit Union is a smaller credit union specializing in Refi, Home Purchase, and Cash Out Refi 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, North Port, Lakeland, Orlando, and Ocala among others. We have data for 26 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 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
    Home Equity Line of Credit (HELOC) 6.63% 4/18/24
    30 Year Conventional Purchase 6.62% 4/18/24
    30 Year Conventional Refi 6.85% 4/18/24
    30 Year Cash-out Refi 6.77% 4/18/24
    30 Year FHA Purchase 7.86% 4/18/24
    30 Year VA Purchase 6.27% 4/18/24
    15 Year Conventional Purchase 7.41% 4/18/24
    15 Year Conventional Refi 7.32% 4/18/24
    15 Year Cash-out Refi 7.32% 4/18/24
    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






    Your Estimates

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

    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

    2,433

    Origination Dollar Volume (All Markets)

    $286,445,000
    Show all (6) awards

    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) 1,930 $225,230,000 $116,699 $2,549 4.91%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 121 $16,535,000 $136,653 $2,713 4.99%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 118 $12,620,000 $106,949 $2,265 4.85%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 46 $7,250,000 $157,609 $2,990 5.03%
    OCALA, FL (FHA|USDA|VA) 72 $5,620,000 $78,056 $1,584 4.91%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 40 $4,620,000 $115,500 $3,101 4.66%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 27 $3,425,000 $126,852 $2,764 4.92%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 13 $2,045,000 $157,308 $2,934 4.61%
    JACKSONVILLE, FL (FHA|USDA|VA) 6 $1,530,000 $255,000 $7,547 5.29%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 6 $1,200,000 $200,000 $4,119 4.27%
    GAINESVILLE, FL (FHA|USDA|VA) 8 $1,110,000 $138,750 $2,390 4.32%
    PUNTA GORDA, FL (FHA|USDA|VA) 8 $940,000 $117,500 $2,730 4.84%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 7 $925,000 $132,143 $3,464 4.44%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 6 $830,000 $138,333 $2,964 4.57%
    TALLAHASSEE, FL (FHA|USDA|VA) 5 $615,000 $123,000 $4,119 3.93%
    SEBRING-AVON PARK, FL (FHA|USDA|VA) 4 $400,000 $100,000 $2,802 4.25%
    Key West, FL (FHA|USDA|VA) 1 $375,000 $375,000 $7,909 4.13%
    Outside of Metro Areas 4 $270,000 $67,500 $2,272 4.56%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $205,000 $205,000 $2,418 4.63%
    THE VILLAGES, FL (FHA|USDA|VA) 1 $205,000 $205,000 $0 5.75%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $130,000 $65,000 $0 5.25%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $110,000 $55,000 $0 5.22%
    Arcadia, FL (FHA|USDA|VA) 1 $85,000 $85,000 $2,418 2.88%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 2 $80,000 $40,000 $238 6.97%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $65,000 $65,000 $0 3.97%
    Lake City, FL (FHA|USDA|VA) 1 $25,000 $25,000 $0 4.97%
    Gte Federal Credit Union's top markets include Tampa, North Port, Lakeland, Orlando, and Ocala among others.

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

    • 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.

    METROPLEX MORTGAGE SERVICES, INC.
    Similarity Rank: 75
    POWER FINANCIAL
    Similarity Rank: 188
    McCoy Federal Credit Union
    Similarity Rank: 342
    We Florida Financial
    Similarity Rank: 572
    AMERANT BANK, NATIONAL ASSOCIATION
    Similarity Rank: 755
    ADDITION FINANCIAL
    Similarity Rank: 910
    SOUTH FLORIDA EDUCATIONAL
    Similarity Rank: 940
    RAILROAD & INDUSTRIAL
    Similarity Rank: 1056
    SAN ANTONIO CITIZENS
    Similarity Rank: 1105
    BANKING MORTGAGE SERVICES, B.M.S. CORP.
    Similarity Rank: 1230

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,839 $240,005,000 $130,508 $2,388 4.72%
    HELOC 530 $34,070,000 $64,283 n/a 5.62%
    FHA 53 $9,435,000 $178,019 $6,910 3.99%
    VA 11 $2,935,000 $266,818 $8,486 3.81%

    For 2019, Gte Federal Credit Union's most frequently originated type of loan was Conventional, with 1,839 originations. Their 2nd most popular type was HELOC, with 530 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 628 $78,680,000 $125,287 $2,238 4.69%
    Home Purchase 566 $103,400,000 $182,686 $4,218 4.28%
    Home Improvement 469 $28,515,000 $60,800 $890 5.55%
    Other 425 $18,405,000 $43,306 $57 6.04%
    Cash Out Refi 343 $57,435,000 $167,449 $3,752 4.00%
    NA 2 $10,000 $5,000 $259 4.63%

    For 2019, Gte Federal Credit Union's most frequently cited loan purpose was Refi, with 628 originations. The 2nd most popular reason was Home Purchase, with 566 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 810 $161,760,000 $199,704 $4,419 4.10%
    15 Year 725 $70,725,000 $97,552 $1,428 5.19%
    20 Year 578 $41,450,000 $71,713 $3,454 5.48%
    Other 299 $10,205,000 $34,130 $46 5.32%
    10 Year 21 $2,305,000 $109,762 $3,051 3.23%

    For 2019, Gte Federal Credit Union's most frequently cited loan duration was 30 Year, with 810 originations. The 2nd most popular length was 15 Year, with 725 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 792 $149,300,000 $188,510
    $<1k 466 $31,560,000 $67,725
    $2k-3k 122 $25,490,000 $208,934
    $3k-4k 41 $8,815,000 $215,000
    $5k+ 18 $7,720,000 $428,889
    $4k-5k 13 $2,505,000 $192,692

    Gte Federal Credit Union's average total fees were $4,419, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 792 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 708 $129,570,000 $183,008
    5-6% 612 $40,120,000 $65,556
    4-5% 611 $84,765,000 $138,732
    6-7% 339 $17,305,000 $51,047
    7-8% 96 $4,470,000 $46,563
    2.5-3% 62 $9,860,000 $159,032
    Over 8% 4 $120,000 $30,000
    <2.5% 1 $235,000 $235,000

    During 2019, Gte Federal Credit Union's average interest rate for loans was 4.10%, while their most frequently originated rate bucket for loans was 3-4%, with 708 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,299 $62,245,000 $47,918 $650 5.55%
    $100k-200k 710 $102,880,000 $144,901 $3,553 4.28%
    $200k-400k 379 $99,025,000 $261,280 $4,595 3.94%
    $400k-600k 41 $18,845,000 $459,634 $6,777 3.92%
    $600k-1MM 3 $2,185,000 $728,333 $21,849 4.42%
    $1MM+ 1 $1,265,000 $1,265,000 $27,828 4.63%

    2019 saw Gte Federal Credit Union place emphasis on $100,000 or less loans with 1,299 originations, totaling $62,245,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 632 $65,190,000 $103,149 $2,476 4.88%
    $50k or less 580 $46,170,000 $79,603 $2,103 4.85%
    $100k-150k 472 $64,330,000 $136,292 $2,651 4.97%
    $75k-100k 446 $52,960,000 $118,744 $2,548 4.97%
    $150k-250k 207 $35,895,000 $173,406 $3,008 4.94%
    $250k+ 40 $11,560,000 $289,000 $7,478 4.75%

    Gte Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 632 originations. The second most popular income band? $50k or less, with 580 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 491 $55,585,000 $113,208 $2,296 4.78%
    30-36% 489 $58,385,000 $119,397 $2,493 4.94%
    <20% 173 $17,025,000 $98,410 $2,095 4.61%
    41% 116 $14,610,000 $125,948 $2,691 4.94%
    43% 104 $13,770,000 $132,404 $2,894 4.82%
    42% 102 $11,700,000 $114,706 $2,492 5.02%
    39% 99 $13,125,000 $132,576 $2,917 4.99%
    37% 99 $10,255,000 $103,586 $2,215 4.93%
    40% 95 $11,155,000 $117,421 $2,445 4.96%
    36% 89 $10,375,000 $116,573 $2,736 4.93%
    44% 87 $11,555,000 $132,816 $3,325 4.59%
    38% 82 $10,020,000 $122,195 $2,568 4.99%
    50-60% 80 $6,760,000 $84,500 $1,493 5.65%
    46% 70 $8,270,000 $118,143 $2,799 4.99%
    49% 69 $7,795,000 $112,971 $2,685 5.04%
    45% 65 $8,955,000 $137,769 $2,903 4.98%
    48% 63 $8,765,000 $139,127 $3,403 4.81%
    47% 59 $8,115,000 $137,542 $3,261 4.93%
    >60% 1 $225,000 $225,000 $4,011 3.75%

    Gte Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 491 originations. The next most common DTI ratio? 30-36%, with 489 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,919 $220,455,000 $114,880 $2,449 4.95%
    Not provided 211 $32,515,000 $154,100 $3,551 4.28%
    Black 236 $25,800,000 $109,322 $2,359 5.03%
    Asian 55 $6,155,000 $111,909 $2,304 4.85%
    American Indian 8 $880,000 $110,000 $2,740 4.89%
    Filipino 1 $215,000 $215,000 $4,156 4.00%
    Native Hawaiian or Islander 1 $185,000 $185,000 $4,049 4.25%
    Asian Indian 1 $175,000 $175,000 $1,798 3.13%
    Other Pacific Islander 1 $65,000 $65,000 $70 6.22%

    Approval Rates

    Total approvals of all applications
    78.27%

    Gte Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    37.36%

    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 2,433 $286,445,000 $117,733

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 52 $3,690,000 $70,962
    Single Family (1-4 Units):Site-Built 2,381 $282,755,000 $118,755

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 470 $31,470,000 $66,957 $823 5.49%
    40-60% 302 $38,880,000 $128,742 $2,738 4.36%
    60-80% 516 $95,920,000 $185,891 $3,786 4.12%
    80-100% 449 $93,025,000 $207,183 $4,544 4.14%
    Over 100% 4 $1,600,000 $400,000 $16,400 4.19%
    Under 20% 692 $25,550,000 $36,922 $129 5.80%