George Mason Mortgage Rates, Fees & Info

Fairfax, VA

LEI: 2549006II76YXSS5XM65

Tax ID: 54-2024584

4.3 stars - out of 5 stars, based on 112 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

George Mason Mortgage is a mid-sized mortgage company specializing in Home Purchase and Refi loans. George Mason Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Washington, Richmond, Baltimore, Virginia Beach, and Hilton Head Island among others. George Mason Mortgage has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. George Mason Mortgage is typically an average fee lendor.


Originations

12,567

Origination Dollar Volume (All Markets)

$5,033,785,000
Show all (8) awards

Relative Rate

George Mason Mortgage 's average 30 year fixed rate mortgage of loans were 3%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.15%.

Relative Fees

George Mason Mortgage 's average total fees for a 30 year fixed rate mortgage are $5,880.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 6,700 $3,195,420,000 $476,928 $5,983 2.92%
RICHMOND, VA (FHA|USDA|VA) 1,826 $532,440,000 $291,588 $5,104 3.01%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1,212 $421,820,000 $348,036 $5,417 2.92%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 654 $204,600,000 $312,844 $6,224 3.02%
Outside of Metro Areas 482 $131,810,000 $273,465 $5,049 3.04%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 208 $94,100,000 $452,404 $4,490 3.04%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 146 $38,490,000 $263,630 $5,346 3.00%
SALISBURY, MD-DE (FHA|USDA|VA) 91 $34,905,000 $383,571 $5,443 2.98%
WINCHESTER, VA-WV (FHA|USDA|VA) 95 $26,645,000 $280,474 $4,960 3.03%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 78 $26,150,000 $335,256 $4,409 2.94%
HARRISONBURG, VA (FHA|USDA|VA) 98 $26,130,000 $266,633 $4,269 3.14%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 74 $24,790,000 $335,000 $4,693 2.87%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 56 $19,700,000 $351,786 $5,892 2.83%
RALEIGH-CARY, NC (FHA|USDA|VA) 58 $18,750,000 $323,276 $3,187 2.78%
YORK-HANOVER, PA (FHA|USDA|VA) 67 $17,595,000 $262,612 $5,933 2.93%
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 62 $15,690,000 $253,065 $6,217 2.96%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 49 $14,545,000 $296,837 $4,698 3.09%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 37 $14,285,000 $386,081 $6,255 2.75%
STAUNTON, VA (FHA|USDA|VA) 64 $14,270,000 $222,969 $5,262 3.05%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 39 $13,255,000 $339,872 $5,265 3.02%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 28 $9,350,000 $333,929 $6,987 3.06%
Elizabeth City, NC (FHA|USDA|VA) 33 $8,815,000 $267,121 $7,674 3.05%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 18 $8,180,000 $454,444 $3,573 2.86%
Kill Devil Hills, NC (FHA|USDA|VA) 17 $7,065,000 $415,588 $6,520 3.07%
CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 12 $6,290,000 $524,167 $5,812 2.99%
Easton, MD (FHA|USDA|VA) 13 $5,925,000 $455,769 $4,554 3.00%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 13 $5,845,000 $449,615 $6,156 3.15%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 17 $5,765,000 $339,118 $4,895 2.99%
BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 14 $5,300,000 $378,571 $4,313 3.04%
JACKSONVILLE, FL (FHA|USDA|VA) 15 $3,745,000 $249,667 $3,958 2.85%
GETTYSBURG, PA (FHA|USDA|VA) 13 $3,715,000 $285,769 $5,273 2.92%
ROANOKE, VA (FHA|USDA|VA) 12 $3,650,000 $304,167 $3,939 2.87%
Morehead City, NC (FHA|USDA|VA) 12 $3,550,000 $295,833 $4,222 3.08%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 9 $3,345,000 $371,667 $6,726 3.03%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 11 $3,115,000 $283,182 $3,024 2.93%
SAVANNAH, GA (FHA|USDA|VA) 8 $3,020,000 $377,500 $5,727 2.79%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 7 $2,855,000 $407,857 $5,612 2.85%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 6 $2,480,000 $413,333 $7,460 3.14%
LANCASTER, PA (FHA|USDA|VA) 9 $2,325,000 $258,333 $4,250 3.05%
PITTSBURGH, PA (FHA|USDA|VA) 10 $2,320,000 $232,000 $4,961 3.11%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 7 $2,165,000 $309,286 $4,661 2.92%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 6 $2,030,000 $338,333 $5,127 3.33%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 6 $1,880,000 $313,333 $5,619 2.77%
LYNCHBURG, VA (FHA|USDA|VA) 5 $1,865,000 $373,000 $5,982 2.90%
WILMINGTON, NC (FHA|USDA|VA) 6 $1,670,000 $278,333 $3,730 3.06%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 3 $1,655,000 $551,667 $9,980 3.00%
COLUMBUS, OH (FHA|USDA|VA) 5 $1,545,000 $309,000 $5,071 2.88%
WINSTON-SALEM, NC (FHA|USDA|VA) 6 $1,540,000 $256,667 $3,043 2.77%
CUMBERLAND, MD-WV (FHA|USDA|VA) 4 $1,510,000 $377,500 $3,437 2.93%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 6 $1,450,000 $241,667 $5,914 2.89%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 4 $1,440,000 $360,000 $3,031 2.90%
ASHEVILLE, NC (FHA|USDA|VA) 5 $1,295,000 $259,000 $2,896 3.09%
DOVER, DE (FHA|USDA|VA) 3 $1,145,000 $381,667 $5,155 2.58%
JACKSONVILLE, NC (FHA|USDA|VA) 6 $1,140,000 $190,000 $5,040 3.02%
Ellensburg, WA (FHA|USDA|VA) 1 $1,095,000 $1,095,000 $4,948 3.13%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 5 $1,055,000 $211,000 $4,962 3.08%
FAYETTEVILLE, NC (FHA|USDA|VA) 10 $1,050,000 $105,000 $3,412 3.39%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 5 $1,035,000 $207,000 $3,305 3.15%
KNOXVILLE, TN (FHA|USDA|VA) 2 $1,000,000 $500,000 $20,588 2.38%
PORT ST. LUCIE, FL (FHA|USDA|VA) 3 $995,000 $331,667 $5,219 3.25%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 4 $990,000 $247,500 $3,385 2.81%
COLUMBIA, SC (FHA|USDA|VA) 5 $975,000 $195,000 $5,206 2.67%
Cambridge, MD (FHA|USDA|VA) 3 $955,000 $318,333 $3,905 3.04%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 4 $940,000 $235,000 $5,688 3.09%
Georgetown, SC (FHA|USDA|VA) 2 $810,000 $405,000 $3,303 2.62%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 2 $800,000 $400,000 $3,527 3.25%
OCALA, FL (FHA|USDA|VA) 2 $760,000 $380,000 $4,745 3.31%
GREENVILLE, NC (FHA|USDA|VA) 5 $745,000 $149,000 $3,084 3.17%
Roanoke Rapids, NC (FHA|USDA|VA) 3 $715,000 $238,333 $3,706 3.04%
BURLINGTON, NC (FHA|USDA|VA) 4 $660,000 $165,000 $3,080 2.87%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $655,000 $655,000 $28,565 2.63%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 2 $650,000 $325,000 $3,765 2.81%
NEW BERN, NC (FHA|USDA|VA) 3 $625,000 $208,333 $3,316 2.75%
BRUNSWICK, GA (FHA|USDA|VA) 2 $600,000 $300,000 $3,526 2.81%
Shelby, NC (FHA|USDA|VA) 2 $550,000 $275,000 $3,087 2.88%
PANAMA CITY, FL (FHA|USDA|VA) 2 $550,000 $275,000 $8,841 3.43%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 2 $530,000 $265,000 $8,278 3.31%
PUNTA GORDA, FL (FHA|USDA|VA) 2 $500,000 $250,000 $6,229 2.75%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 2 $500,000 $250,000 $4,196 3.68%
WARNER ROBINS, GA (FHA|USDA|VA) 1 $455,000 $455,000 $5,677 2.49%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 2 $450,000 $225,000 $3,512 2.87%
JOHNSTOWN, PA (FHA|USDA|VA) 1 $445,000 $445,000 $6,482 2.99%
Pottsville, PA (FHA|USDA|VA) 1 $405,000 $405,000 $5,668 3.13%
LEBANON, PA (FHA|USDA|VA) 2 $370,000 $185,000 $4,064 2.75%
AKRON, OH (FHA|USDA|VA) 1 $365,000 $365,000 $4,171 3.13%
BECKLEY, WV (FHA|USDA|VA) 2 $360,000 $180,000 $3,480 3.63%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 2 $350,000 $175,000 $5,304 2.49%
Tullahoma-Manchester, TN (FHA|USDA|VA) 1 $345,000 $345,000 $3,764 3.38%
EAST STROUDSBURG, PA (FHA|USDA|VA) 1 $305,000 $305,000 $5,300 3.49%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $305,000 $305,000 $3,830 3.38%
SUMTER, SC (FHA|USDA|VA) 1 $295,000 $295,000 $4,050 2.13%
MORGANTOWN, WV (FHA|USDA|VA) 1 $295,000 $295,000 $9,000 2.99%
Selinsgrove, PA (FHA|USDA|VA) 1 $285,000 $285,000 $6,269 2.99%
THE VILLAGES, FL (FHA|USDA|VA) 1 $275,000 $275,000 $4,186 2.75%
Oil City, PA (FHA|USDA|VA) 1 $275,000 $275,000 $8,511 2.99%
Fairmont, WV (FHA|USDA|VA) 1 $265,000 $265,000 $3,634 2.88%
BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 1 $265,000 $265,000 $4,067 2.63%
Big Stone Gap, VA (FHA|USDA|VA) 1 $265,000 $265,000 $3,676 2.88%
Sevierville, TN (FHA|USDA|VA) 1 $255,000 $255,000 $7,031 3.25%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 2 $250,000 $125,000 $3,426 3.19%
Clarksburg, WV (FHA|USDA|VA) 1 $245,000 $245,000 $3,400 2.25%
Somerset, PA (FHA|USDA|VA) 1 $235,000 $235,000 $4,702 2.99%
Danville, VA (FHA|USDA|VA) 1 $225,000 $225,000 $4,911 2.49%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 1 $225,000 $225,000 $2,791 3.25%
Ashtabula, OH (FHA|USDA|VA) 1 $225,000 $225,000 $3,760 2.88%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 1 $215,000 $215,000 $3,165 2.88%
HINESVILLE, GA (FHA|USDA|VA) 1 $205,000 $205,000 $3,898 2.63%
Martinsville, VA (FHA|USDA|VA) 2 $190,000 $95,000 $5,966 3.62%
Marion, NC (FHA|USDA|VA) 1 $185,000 $185,000 $2,747 2.63%
LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) 1 $165,000 $165,000 $3,219 3.63%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 1 $115,000 $115,000 $3,305 2.99%
St. Marys, GA (FHA|USDA|VA) 1 $115,000 $115,000 $4,595 3.49%
DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $105,000 $105,000 $2,803 2.25%
Athens, OH (FHA|USDA|VA) 1 $95,000 $95,000 $5,017 3.75%
TALLAHASSEE, FL (FHA|USDA|VA) 1 $95,000 $95,000 $3,315 2.99%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $85,000 $85,000 $3,387 3.38%
Lewistown, PA (FHA|USDA|VA) 1 $65,000 $65,000 $3,718 3.25%

George Mason Mortgage 's top markets include Washington, Richmond, Baltimore, Virginia Beach, and Hilton Head Island among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 10,133 $4,022,525,000 $396,973 $4,685 2.99%
VA 1,284 $656,490,000 $511,285 $9,857 2.66%
FHA 967 $308,815,000 $319,354 $9,928 2.97%
USDA 183 $45,955,000 $251,120 $6,595 2.80%

For the 2021 period, George Mason Mortgage 's most frequently originated loan type of loans were Conventional, with 10,133 originations. Their 2nd most popular type is VA, with 1,284 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 7,110 $2,933,050,000 $412,525 $6,698 3.01%
Refi 3,955 $1,559,925,000 $394,418 $4,081 2.81%
Cash Out Refi 1,475 $531,485,000 $360,329 $4,682 3.05%
Home Improvement 27 $9,325,000 $345,370 $14,852 3.25%

For the 2021, George Mason Mortgage 's most frequently cited loan purpose of loans were Home Purchase, with 7,110 originations. The 2nd most popular reason of loans were Refi, with 3,955 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 11,125 $4,564,075,000 $410,254 $5,880 3.00%
15 Year 1,028 $308,330,000 $299,932 $3,640 2.42%
20 Year 224 $71,850,000 $320,759 $3,744 2.89%
Other 67 $23,825,000 $355,597 $3,740 2.86%
10 Year 64 $12,090,000 $188,906 $3,101 2.36%
30+ year 59 $53,615,000 $908,729 $10,945 3.64%

For the 2021, George Mason Mortgage 's most frequently cited loan length of loans were 30 Year, with 11,125 originations. The 2nd most popular length of loans were 15 Year, with 1,028 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 10,025 $4,063,725,000 $405,359
$2k-3k 816 $275,570,000 $337,708
$3k-4k 658 $254,880,000 $387,356
$<1k 588 $132,780,000 $225,816
$5k+ 465 $294,045,000 $632,355

$5,880 of loans were George Mason Mortgage 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 10,025 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 6,523 $2,674,815,000 $410,059
3-4% 4,251 $1,671,515,000 $393,205
<2.5% 1,678 $659,120,000 $392,801
4-5% 115 $28,335,000 $246,391

During 2021, George Mason Mortgage 's average interest rate of loans were 3.00%, while their most frequently originated rate bucket of loans were 2.5-3%, with 6,523 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 5,530 $1,636,730,000 $295,973 $5,132 2.95%
$400k-600k 3,353 $1,634,205,000 $487,386 $6,123 2.91%
$100k-200k 1,531 $242,715,000 $158,534 $3,855 3.00%
$600k-1MM 1,507 $1,105,645,000 $733,673 $8,125 2.94%
$100,000 or less 344 $14,270,000 $41,483 $1,910 3.17%
$1MM+ 302 $400,220,000 $1,325,232 $10,333 3.03%

2021 saw George Mason Mortgage place emphasis on $200k-400k loans with 5,530 originations, totaling $1,636,730,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 3,058 $1,200,010,000 $392,417 $5,972 2.95%
$150k-250k 2,799 $1,376,295,000 $491,710 $5,872 2.95%
$75k-100k 2,035 $643,285,000 $316,111 $5,604 2.96%
$50k-75k 1,961 $488,185,000 $248,947 $5,179 2.99%
$250k+ 1,413 $983,325,000 $695,913 $6,305 2.99%
$50k or less 842 $149,740,000 $177,838 $4,561 3.00%

George Mason Mortgage lent most frequently to those with incomes in the $100k-150k range, with 3,058 originations. The second most popular income band? $150k-250k, with 2,799 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 2,958 $1,216,130,000 $411,133 $5,052 2.92%
30-36% 2,293 $929,785,000 $405,488 $5,532 2.99%
<20% 1,172 $459,690,000 $392,227 $4,327 2.87%
42% 474 $194,960,000 $411,308 $6,008 3.05%
41% 459 $181,915,000 $396,329 $6,230 2.98%
36% 456 $180,090,000 $394,934 $5,523 2.98%
40% 453 $188,925,000 $417,053 $5,720 2.99%
38% 450 $177,170,000 $393,711 $6,023 3.02%
39% 448 $186,830,000 $417,031 $5,920 3.04%
43% 435 $155,235,000 $356,862 $6,440 3.02%
44% 423 $152,545,000 $360,626 $6,567 3.04%
37% 419 $164,765,000 $393,234 $5,580 2.96%
50-60% 314 $139,390,000 $443,917 $10,492 2.88%
45% 303 $114,705,000 $378,564 $5,886 2.99%
49% 302 $108,500,000 $359,272 $6,213 2.98%
47% 301 $110,305,000 $366,462 $6,138 2.96%
46% 283 $110,975,000 $392,138 $6,183 2.95%
48% 277 $101,785,000 $367,455 $6,124 3.01%
>60% 22 $12,500,000 $568,182 $17,724 2.65%

George Mason Mortgage lent most frequently to those with DTI ratios of 20-30%, with 2,958 originations. The next most common DTI ratio? 30-36%, with 2,293 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 7,840 $3,159,350,000 $402,978 $5,477 2.95%
Not provided 2,797 $1,145,185,000 $409,433 $5,634 2.94%
Black 1,240 $421,170,000 $339,653 $6,744 3.05%
Asian 507 $225,525,000 $444,822 $5,561 2.90%
Asian Indian 69 $38,795,000 $562,246 $5,460 2.99%
American Indian 50 $17,450,000 $349,000 $7,795 2.94%
Other Asian 29 $9,925,000 $342,241 $5,745 2.83%
Native Hawaiian 9 $4,255,000 $472,778 $5,685 2.89%
Filipino 8 $3,990,000 $498,750 $5,906 2.91%
Korean 5 $2,625,000 $525,000 $6,197 2.90%
Vietnamese 3 $1,875,000 $625,000 $7,051 3.13%
Chinese 4 $1,710,000 $427,500 $6,177 2.90%
Japanese 4 $970,000 $242,500 $3,760 3.13%
Native Hawiian 1 $725,000 $725,000 $10,288 3.13%
Other Pacific Islander 1 $235,000 $235,000 $6,984 3.13%

Approval Rates

Total approvals of all applications
97.48%

George Mason Mortgage has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
72.40%

George Mason Mortgage has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 12,567 $5,033,785,000 $400,556

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
12,567 $5,033,785,000 $400,556

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 447 $110,525,000 $247,260 $3,495 2.73%
40-60% 1,570 $575,910,000 $366,822 $3,946 2.80%
60-80% 4,173 $1,756,025,000 $420,806 $4,521 3.01%
80-100% 5,811 $2,408,225,000 $414,425 $6,500 2.98%
Over 100% 343 $174,995,000 $510,190 $17,910 2.72%
Under 20% 223 $8,105,000 $36,345 $898 3.19%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
GERSHMAN INVESTMENT CORPORATION FHA mortgage Closing on a mortgage 1 100.0%