GTE Financial is a member-owned, not-for-profit credit union and direct mortgage lender headquartered in Tampa, Florida. Founded in 1935, it has evolved from serving telephone company employees to becoming one of the largest locally owned financial institutions in the nation, with over 20 community financial centers in the Tampa Bay area and membership available nationwide.
See today’s mortgage interest rates on TrueRate.
How GTE Financial compares to other lenders
| Headquarters | Tampa, Florida |
| Website | gtefinancial.org |
| Rate | 0.21% less than the median rate |
| Lender fees | $1,250 (median) |
| Savings after 1 year, compared to the median interest rate | $1,058 |
| Savings after 10 years, compared to the median interest rate | $7,234 |
| Added cost after 1 year (vs. Tomo Mortgage) | $1,520 |
| Added cost after 10 years (vs. Tomo Mortgage) | $3,950 |
For a $400,000 mortgage, GTE Financial’s rates and lender fees will likely result in savings of around $1,050 in the first year and around $7,230 after 10 years compared to the median lender. Borrowers should rate shop and compare GTE Financial to lower cost lenders such as Tomo Mortgage to see if larger savings can be achieved.
What customers are saying
GTE Financial’s mortgage lending receives predominantly negative sentiment on third-party review platforms. The most substantiated negative feedback, found on PissedConsumer, Yelp, and BBB, centers on poor customer service, frequent administrative errors, high and sometimes undisclosed fees, and significant delays in processing payments or resolving issues. Customers also report frustration with unhelpful staff, lack of callbacks, and policies that result in unexpected account or inactivity fees.
The most frequent positive sentiment, seen on Yelp, highlights knowledgeable staff and a quick loan process for some borrowers, with a few noting that certain employees were helpful and efficient during their transactions1. Overall, while some borrowers experience smooth closings, complaints about reliability and customer service are far more common.
How to compare mortgage lenders
Interest rates. Comparing rates between lenders isn’t always straightforward. Many promote low headline rates that require paying “points” upfront to buy down the interest rate. To make a true comparison, focus on the par rate (0 points) and the APR, which reflects both the interest rate and any lender fees. Even small differences can translate into significant savings over the life of the loan.
Lender fees or loan origination fees. Many lenders charge fees that add thousands to the cost of a loan. It’s important to look at both the rate and the fees together to understand the true cost of borrowing. For a $400,000 mortgage, avoiding even a $1,000 fee could contribute to meaningful savings in the first year and over the long term.
On-time close rate. Most lenders do not publicly share their on-time close rates. However, it’s a critical factor—especially if your home contract has tight deadlines. Asking about their process for meeting close dates, including underwriting and document review timelines, can give you more confidence when choosing a lender.
Pre-approval and offer letters. Some lenders offer fast pre-qualifications that may not be fully underwritten, which can weaken your offer in competitive markets. It’s important to ask whether a lender’s pre-approvals are fully underwritten and how credible their letters are when presented with an offer.
Customer satisfaction. If detailed customer review data isn’t readily available, check third-party review sites or ask the lender for references. It’s important to understand how they handle communication, responsiveness, and issue resolution throughout the loan process.
Employee reviews. Company culture often influences how clients are treated. A lender with strong employee satisfaction typically delivers better service, more organized processing, and a smoother overall experience for borrowers.
To better understand how we compare mortgage rates fairly, see our TrueRate Methodology.
If you’re ready to start your journey to homeownership, get pre-approved with Tomo Mortgage today.