GTE Financial Mortgage Interest Rate and Cost Review

Is GTE Financial a cheap or expensive mortgage lender? We compare the interest rates and closing costs charged by GTE Financial with other lenders for comparable mortgages. Nationally, here is what we find:

Interest Ratelower than average (-0.14%)
Loan Related Closing Costssimilar to average (-$224)
National Rate and Closing Cost Rating(4.5)

On average, GTE Financial’s interest rates were lower than those of other lenders (-0.14%) for a comparable set of borrowers. Its average total loan related closing cost was similar to those of other lenders, with a difference of -$224. Overall, combining interest rates and closing costs we estimate that GTE Financial tends to be a cheap lender, and give it a National Rate and Closing Costs Rating of 4.5 out of 5.0 stars.

GTE Financial’s Rates by Area

Mortgage lenders often set different rates in different geographical markets. In particular, among the markets we track GTE Financial was most active in:

  1. Tampa, FL
  2. Lakeland, FL
  3. Gainesville, FL
  4. North Port, FL
  5. Orlando, FL

You can click through to check out GTE Financial’s mortgage rate competitiveness by area. Or, for our data driven ranking of all the top mortgage lenders by area, click here.

GTE Financial’s Rates by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, GTE Financial originated Conforming, FHA and VA mortgages for new home purchases. It also originated Conforming mortgages for refinances. We breakdown its interest rate and total loan related closing cost difference relative to other lenders for comparable mortgages by type in the table below.

New Purchase MortgagesConformingFHAVA
Interest Rate Difference-0.16%-0.14%-0.06%
Loan Related Closing Cost Difference-$9+$12+$97
Cost Adjusted Rate Difference-0.18%-0.14%-0.05%
Star Rating(4.5)(4.0)(4.0)
Refinance MortgagesConforming
Interest Rate Difference-0.14%
Loan Related Closing Cost Difference-$375
Cost Adjusted Rate Difference-0.21%
Star Rating(4.5)

As a summary, GTE Financial is cheap for Conforming, FHA and VA purchase mortgages. For refinancing mortgages, GTE Financial is cheap for Conforming mortgage refinance. Nevertheless, individual circumstances can matter, and we always recommend shopping among several lenders in your area before signing.

Other information about GTE Financial:

Registered name: GTE Financial
Registered city and state: Tampa, FL, 33602
Regulator: National Credit Union Administration (NCUA)

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for GTE Financial’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.