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, Cash Out 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, North Port, Lakeland, Orlando, and Miami 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% 11/22/24
    30 Year Conventional Purchase 6.62% 11/22/24
    30 Year Conventional Refi 6.85% 11/22/24
    30 Year Cash-out Refi 6.77% 11/22/24
    30 Year FHA Purchase 7.86% 11/22/24
    30 Year VA Purchase 6.27% 11/22/24
    15 Year Conventional Purchase 7.41% 11/22/24
    15 Year Conventional Refi 7.32% 11/22/24
    15 Year Cash-out Refi 7.32% 11/22/24
    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

    1,847

    Origination Dollar Volume (All Markets)

    $282,645,000

    Awards

    GTE Federal Credit Union 30 Year Conventional Loans silver GTE Federal Credit Union 30 Year Conventional Loans silver GTE Federal Credit Union 30 Year Conventional Loans silver GTE Federal Credit Union 30 Year Conventional Loans bronze
    Show all (4) 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) 1,475 $221,785,000 $150,363 $3,056 3.80%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 90 $14,770,000 $164,111 $2,918 3.70%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 69 $9,785,000 $141,812 $2,950 3.72%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 40 $8,110,000 $202,750 $3,606 3.57%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 29 $7,355,000 $253,621 $3,492 3.83%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 40 $5,450,000 $136,250 $2,658 3.82%
    OCALA, FL (FHA|USDA|VA) 46 $5,240,000 $113,913 $2,613 3.63%
    JACKSONVILLE, FL (FHA|USDA|VA) 9 $1,855,000 $206,111 $3,110 3.76%
    GAINESVILLE, FL (FHA|USDA|VA) 11 $1,365,000 $124,091 $2,991 4.22%
    PUNTA GORDA, FL (FHA|USDA|VA) 7 $1,065,000 $152,143 $2,927 3.82%
    THE VILLAGES, FL (FHA|USDA|VA) 3 $955,000 $318,333 $4,659 3.33%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 4 $770,000 $192,500 $3,913 2.94%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 4 $660,000 $165,000 $2,597 4.14%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 2 $520,000 $260,000 $4,430 3.13%
    Lake City, FL (FHA|USDA|VA) 2 $520,000 $260,000 $4,285 3.19%
    Key West, FL (FHA|USDA|VA) 1 $425,000 $425,000 $3,163 3.25%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 2 $410,000 $205,000 $3,642 3.13%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 3 $365,000 $121,667 $1,828 4.67%
    Outside of Metro Areas 2 $320,000 $160,000 $3,925 2.81%
    TALLAHASSEE, FL (FHA|USDA|VA) 2 $260,000 $130,000 $3,812 4.88%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $175,000 $175,000 $3,222 2.88%
    SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $105,000 $105,000 $3,117 2.25%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $105,000 $105,000 $3,832 2.50%
    Palatka, FL (FHA|USDA|VA) 1 $105,000 $105,000 $2,964 3.00%
    Arcadia, FL (FHA|USDA|VA) 1 $105,000 $105,000 $3,699 3.13%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $65,000 $65,000 $1,645 2.13%
    Gte Federal Credit Union's top markets include Tampa, North Port, Lakeland, Orlando, and Miami 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.

    DADE COUNTY FEDERAL CREDIT UNION
    Similarity Rank: 167
    POWER FINANCIAL
    Similarity Rank: 768
    NEAL COMMUNITIES FUNDING, LLC
    Similarity Rank: 1048
    LAUNCH FEDERAL CREDIT UNION
    Similarity Rank: 1272
    We Florida Financial
    Similarity Rank: 1770
    SAN ANTONIO CITIZENS
    Similarity Rank: 1792
    RAILROAD & INDUSTRIAL
    Similarity Rank: 1974
    Citizens First Bank
    Similarity Rank: 2128
    AMERANT BANK, NATIONAL ASSOCIATION
    Similarity Rank: 2134
    MIAMI FIREFIGHTERS FCU
    Similarity Rank: 2205

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,567 $257,215,000 $164,145 $2,952 3.62%
    HELOC 248 $18,310,000 $73,831 n/a 4.85%
    FHA 30 $6,510,000 $217,000 $7,831 3.18%
    VA 2 $610,000 $305,000 $7,540 3.13%

    For 2021, Gte Federal Credit Union's most frequently originated type of loan was Conventional, with 1,567 originations. Their 2nd most popular type was HELOC, with 248 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 724 $116,920,000 $161,492 $2,997 3.51%
    Cash Out Refi 370 $66,990,000 $181,054 $3,769 3.34%
    Home Improvement 303 $27,225,000 $89,851 $1,772 4.52%
    Home Purchase 300 $63,330,000 $211,100 $4,182 3.44%
    Other 150 $8,180,000 $54,533 $126 5.36%

    For 2021, Gte Federal Credit Union's most frequently cited loan purpose was Refi, with 724 originations. The 2nd most popular reason was Cash Out Refi, with 370 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 773 $170,895,000 $221,080 $4,126 3.38%
    15 Year 634 $73,640,000 $116,151 $2,109 3.85%
    20 Year 318 $29,670,000 $93,302 $3,356 4.48%
    Other 92 $3,700,000 $40,217 $169 4.64%
    10 Year 26 $2,800,000 $107,692 $2,887 2.48%
    30+ year 4 $1,940,000 $485,000 $8,369 3.00%

    For 2021, Gte Federal Credit Union's most frequently cited loan duration was 30 Year, with 773 originations. The 2nd most popular length was 15 Year, with 634 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 776 $154,620,000 $199,253
    $<1k 625 $66,315,000 $106,104
    $2k-3k 100 $23,330,000 $233,300
    $3k-4k 34 $8,610,000 $253,235
    $5k+ 13 $5,675,000 $436,538
    $4k-5k 11 $2,865,000 $260,455

    Gte Federal Credit Union's average total fees were $4,126, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 776 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 717 $152,635,000 $212,880
    2.5-3% 365 $65,705,000 $180,014
    4-5% 327 $24,945,000 $76,284
    5-6% 167 $9,665,000 $57,874
    <2.5% 163 $23,675,000 $145,245
    6-7% 107 $5,995,000 $56,028
    7-8% 1 $25,000 $25,000

    During 2021, Gte 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 717 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 715 $38,635,000 $54,035 $1,091 4.52%
    $100k-200k 640 $93,200,000 $145,625 $3,452 3.33%
    $200k-400k 422 $111,820,000 $264,976 $4,424 3.28%
    $400k-600k 49 $23,165,000 $472,755 $5,335 3.35%
    $600k-1MM 20 $14,820,000 $741,000 $8,848 3.37%
    $1MM+ 1 $1,005,000 $1,005,000 $4,231 3.75%

    2021 saw Gte Federal Credit Union place emphasis on $100,000 or less loans with 715 originations, totaling $38,635,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 502 $65,750,000 $130,976 $3,014 3.69%
    $50k or less 392 $41,730,000 $106,454 $2,854 3.58%
    $100k-150k 348 $57,050,000 $163,937 $2,881 3.97%
    $75k-100k 327 $48,715,000 $148,976 $3,002 3.87%
    $150k-250k 185 $39,715,000 $214,676 $3,484 3.99%
    $250k+ 47 $19,015,000 $404,574 $6,196 3.72%

    Gte Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 502 originations. The second most popular income band? $50k or less, with 392 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 387 $58,135,000 $150,220 $2,946 3.69%
    30-36% 381 $60,715,000 $159,357 $3,015 3.76%
    <20% 132 $17,960,000 $136,061 $3,010 3.51%
    42% 100 $12,850,000 $128,500 $2,283 4.36%
    40% 83 $11,615,000 $139,940 $2,694 4.09%
    44% 81 $13,955,000 $172,284 $3,614 3.50%
    41% 80 $11,080,000 $138,500 $2,542 4.03%
    43% 77 $12,985,000 $168,636 $3,595 3.47%
    39% 75 $11,695,000 $155,933 $3,361 3.92%
    37% 69 $12,815,000 $185,725 $2,753 4.06%
    49% 68 $10,530,000 $154,853 $3,349 3.56%
    38% 67 $10,235,000 $152,761 $3,131 3.91%
    36% 57 $8,485,000 $148,860 $3,133 3.87%
    47% 55 $8,805,000 $160,091 $3,605 3.65%
    48% 46 $6,640,000 $144,348 $3,261 3.88%
    46% 45 $7,225,000 $160,556 $3,305 3.86%
    45% 35 $5,055,000 $144,429 $2,929 3.70%
    50-60% 9 $1,865,000 $207,222 $6,823 3.24%

    Gte Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 387 originations. The next most common DTI ratio? 30-36%, with 381 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,424 $216,450,000 $152,001 $3,012 3.80%
    Not provided 181 $30,025,000 $165,884 $3,087 3.68%
    Black 166 $23,610,000 $142,229 $3,101 3.82%
    Asian 52 $8,790,000 $169,038 $3,482 3.60%
    American Indian 19 $2,905,000 $152,895 $3,625 3.40%
    Native Hawaiian or Islander 4 $710,000 $177,500 $4,024 2.63%
    Asian Indian 1 $155,000 $155,000 $3,197 2.50%

    Approval Rates

    Total approvals of all applications
    77.86%

    Gte Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    57.99%

    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 1,847 $282,645,000 $153,029

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,847 $282,645,000 $153,029

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 345 $31,605,000 $91,609 $2,129 4.01%
    40-60% 350 $54,450,000 $155,571 $3,238 3.16%
    60-80% 515 $114,555,000 $222,437 $4,016 3.31%
    80-100% 252 $66,080,000 $262,222 $4,692 3.29%
    Over 100% 1 $305,000 $305,000 $11,919 3.13%
    Under 20% 384 $15,650,000 $40,755 $267 5.09%