George Mason Mortgage Rates, Fees & Info

Fairfax, VA

LEI: 2549006II76YXSS5XM65

Tax ID: 54-2024584

5 stars - Updated: 4/14/24 - out of 5 stars, based on 55 reviews

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

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Mortgage Data

Review & Overview

George Mason Mortgage is a small mortgage company specializing in Home Purchase 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 by origination volume include: Washington, Richmond, Baltimore, Miami, and Hilton Head Island among others. We have data for 59 markets. (Some data included below & more in-depth data is available with an active subscription.)

George Mason Mortgage has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. George Mason Mortgage is typically an average 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 relatively high 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.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.41% 4/14/24
30 Year Conventional Refi 6.45% 4/14/24
30 Year Cash-out Refi 6.70% 4/14/24
30 Year FHA Purchase 7.38% 4/14/24
30 Year FHA Refi 7.02% 4/14/24
30 Year VA Purchase 6.22% 4/14/24
30 Year VA Refi 5.86% 4/14/24
30 Year USDA Purchase 6.49% 4/14/24
30 Year USDA Refi 6.27% 4/14/24
15 Year Conventional Purchase 5.82% 4/14/24
15 Year Conventional Refi 5.89% 4/14/24
15 Year Cash-out Refi 5.89% 4/14/24
15 Year VA Purchase 6.53% 4/14/24
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.

George Mason Mortgage Mortgage Calculator






Your Estimates

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

This is not an official calculator from George Mason Mortgage. 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

2,990

Origination Dollar Volume (All Markets)

$1,236,000,000
Show all (13) awards

Relative Rate

George Mason Mortgage's average 30 year fixed mortgage rate was 6.3%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.18%.

Relative Fees (Closing Costs)

George Mason Mortgage's average total fees/closing costs for a 30 year fixed rate mortgage were $7,633.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1,234 $600,250,000 $486,426 $8,307 6.51%
RICHMOND, VA (FHA|USDA|VA) 876 $289,240,000 $330,183 $6,327 5.82%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 280 $109,670,000 $391,679 $7,890 6.45%
Outside of Metro Areas 177 $56,215,000 $317,599 $7,373 6.62%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 8 $28,110,000 $3,513,750 $34,744 6.70%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 49 $27,895,000 $569,286 $7,132 6.47%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 68 $20,340,000 $299,118 $8,014 6.50%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 31 $12,295,000 $396,613 $10,345 6.56%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 36 $10,930,000 $303,611 $6,861 6.28%
HARRISONBURG, VA (FHA|USDA|VA) 33 $9,405,000 $285,000 $5,628 6.64%
SALISBURY, MD-DE (FHA|USDA|VA) 19 $8,485,000 $446,579 $6,137 6.00%
WINCHESTER, VA-WV (FHA|USDA|VA) 14 $5,320,000 $380,000 $7,895 6.26%
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 17 $4,995,000 $293,824 $8,945 6.50%
YORK-HANOVER, PA (FHA|USDA|VA) 14 $4,500,000 $321,429 $6,777 6.34%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 16 $4,480,000 $280,000 $5,292 6.48%
Elizabeth City, NC (FHA|USDA|VA) 13 $3,805,000 $292,692 $9,200 6.42%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 8 $3,350,000 $418,750 $7,520 6.84%
STAUNTON, VA (FHA|USDA|VA) 12 $2,840,000 $236,667 $5,856 6.53%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 6 $2,840,000 $473,333 $5,909 6.38%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 8 $2,410,000 $301,250 $5,250 6.83%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 3 $2,375,000 $791,667 $6,281 6.83%
Kill Devil Hills, NC (FHA|USDA|VA) 4 $2,250,000 $562,500 $8,216 6.63%
RALEIGH-CARY, NC (FHA|USDA|VA) 3 $2,125,000 $708,333 $4,723 6.54%
ROANOKE, VA (FHA|USDA|VA) 3 $1,805,000 $601,667 $4,743 6.38%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 2 $1,440,000 $720,000 $5,580 6.25%
LYNCHBURG, VA (FHA|USDA|VA) 4 $1,280,000 $320,000 $14,042 7.34%
Easton, MD (FHA|USDA|VA) 4 $1,220,000 $305,000 $6,758 6.81%
GETTYSBURG, PA (FHA|USDA|VA) 4 $1,220,000 $305,000 $8,843 6.13%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 4 $1,200,000 $300,000 $6,795 6.65%
WILMINGTON, NC (FHA|USDA|VA) 2 $1,200,000 $600,000 $13,352 5.87%
CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 2 $970,000 $485,000 $7,577 6.38%
PORT ST. LUCIE, FL (FHA|USDA|VA) 2 $820,000 $410,000 $8,575 6.62%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 2 $790,000 $395,000 $11,925 6.81%
WARNER ROBINS, GA (FHA|USDA|VA) 2 $760,000 $380,000 $14,692 5.43%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $565,000 $565,000 $5,737 7.13%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $525,000 $525,000 $13,387 6.25%
SAVANNAH, GA (FHA|USDA|VA) 2 $520,000 $260,000 $9,674 7.24%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $505,000 $505,000 $6,969 7.13%
Georgetown, SC (FHA|USDA|VA) 1 $485,000 $485,000 $5,366 6.88%
Seneca, SC (FHA|USDA|VA) 1 $455,000 $455,000 $6,981 6.88%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $435,000 $435,000 $18,177 7.13%
WINSTON-SALEM, NC (FHA|USDA|VA) 2 $430,000 $215,000 $4,038 6.56%
COLUMBIA, SC (FHA|USDA|VA) 1 $425,000 $425,000 $11,406 7.49%
COLUMBUS, OH (FHA|USDA|VA) 1 $415,000 $415,000 $2,804 7.49%
CUMBERLAND, MD-WV (FHA|USDA|VA) 2 $400,000 $200,000 $5,567 6.56%
Cambridge, MD (FHA|USDA|VA) 1 $395,000 $395,000 $6,484 6.49%
PITTSBURGH, PA (FHA|USDA|VA) 1 $375,000 $375,000 $13,825 6.25%
LANCASTER, PA (FHA|USDA|VA) 2 $370,000 $185,000 $7,338 6.81%
Henderson, NC (FHA|USDA|VA) 1 $365,000 $365,000 $9,406 6.99%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $345,000 $345,000 $11,917 6.38%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $315,000 $315,000 $4,621 6.63%
BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 2 $290,000 $145,000 $4,082 7.25%
STATE COLLEGE, PA (FHA|USDA|VA) 1 $285,000 $285,000 $4,731 7.00%
Sevierville, TN (FHA|USDA|VA) 1 $255,000 $255,000 $0 6.99%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $255,000 $255,000 $0 8.63%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 1 $245,000 $245,000 $8,835 5.63%
FAYETTEVILLE, NC (FHA|USDA|VA) 1 $225,000 $225,000 $7,882 5.99%
CANTON-MASSILLON, OH (FHA|USDA|VA) 1 $215,000 $215,000 $8,580 6.49%
Washington, NC (FHA|USDA|VA) 1 $75,000 $75,000 $4,289 6.62%
George Mason Mortgage's top markets include Washington, Richmond, Baltimore, Miami, and Hilton Head Island among others.

Their top states include:
  • Virginia (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • District of Columbia (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against George Mason Mortgage based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Republic Bank
    Similarity Rank: 21
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    Similarity Rank: 33
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    ABNB Federal Credit Union
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    JOHNSON MORTGAGE COMPANY, L.L.C.
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    SCIENT Federal Credit Union
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    County Savings Bank
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,446 $1,023,110,000 $418,279 $6,400 6.31%
    FHA 331 $117,725,000 $355,665 $12,869 6.40%
    VA 171 $84,765,000 $495,702 $13,857 6.19%
    USDA 42 $10,400,000 $247,619 $7,727 6.07%

    For 2023, George Mason Mortgage's most frequently originated type of loan was Conventional, with 2,446 originations. Their 2nd most popular type was FHA, with 331 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2,756 $1,152,460,000 $418,164 $7,674 6.37%
    Refi 166 $61,180,000 $368,554 $5,959 5.17%
    Cash Out Refi 55 $19,485,000 $354,273 $8,634 6.53%
    Home Improvement 9 $2,255,000 $250,556 $6,113 6.83%
    Other 4 $620,000 $155,000 $5,129 6.40%

    For 2023, George Mason Mortgage's most frequently cited loan purpose was Home Purchase, with 2,756 originations. The 2nd most popular reason was Refi, with 166 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,802 $1,138,890,000 $406,456 $7,633 6.30%
    30+ year 134 $82,430,000 $615,149 $7,457 6.83%
    15 Year 45 $13,915,000 $309,222 $6,135 5.82%
    10 Year 5 $505,000 $101,000 $4,159 6.10%
    5 Year 3 $45,000 $15,000 $395 0.00%
    20 Year 1 $215,000 $215,000 $7,327 7.25%

    For 2023, George Mason Mortgage's most frequently cited loan duration was 30 Year, with 2,802 originations. The 2nd most popular length was 30+ year, with 134 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,654 $690,020,000 $417,183
    $5k+ 539 $292,265,000 $542,236
    $2k-3k 267 $86,805,000 $325,112
    $4k-5k 216 $76,990,000 $356,435
    $3k-4k 205 $64,275,000 $313,537
    $<1k 41 $7,645,000 $186,463

    George Mason Mortgage's average total fees were $7,633, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,654 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 1,529 $650,495,000 $425,438
    5-6% 618 $273,410,000 $442,411
    7-8% 534 $220,390,000 $412,715
    3-4% 280 $80,290,000 $286,750
    4-5% 14 $5,770,000 $412,143
    Over 8% 12 $5,600,000 $466,667
    <2.5% 3 $45,000 $15,000

    During 2023, George Mason Mortgage's average interest rate for loans was 6.30%, while their most frequently originated rate bucket for loans was 6-7%, with 1,529 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,526 $457,770,000 $299,980 $6,551 6.17%
    $400k-600k 712 $345,330,000 $485,014 $8,668 6.47%
    $600k-1MM 321 $231,915,000 $722,477 $10,906 6.54%
    $100k-200k 269 $42,115,000 $156,561 $5,224 6.34%
    $1MM+ 101 $156,025,000 $1,544,802 $13,063 6.48%
    $100,000 or less 61 $2,845,000 $46,639 $2,689 6.25%

    2023 saw George Mason Mortgage place emphasis on $200k-400k loans with 1,526 originations, totaling $457,770,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 806 $319,590,000 $396,514 $7,753 6.41%
    $75k-100k 588 $177,470,000 $301,820 $6,501 6.21%
    $150k-250k 571 $280,685,000 $491,567 $9,188 6.61%
    $50k-75k 527 $128,245,000 $243,349 $5,929 5.89%
    $250k+ 362 $304,560,000 $841,326 $10,076 6.62%
    $50k or less 127 $21,715,000 $170,984 $4,933 5.56%

    George Mason Mortgage lent most frequently to those with incomes in the $100k-150k range, with 806 originations. The second most popular income band? $75k-100k, with 588 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 574 $240,070,000 $418,240 $6,937 6.28%
    20-30% 426 $186,860,000 $438,638 $7,082 6.19%
    42% 170 $77,560,000 $456,235 $7,677 6.34%
    41% 157 $69,205,000 $440,796 $7,465 6.49%
    49% 154 $58,890,000 $382,403 $7,803 6.54%
    44% 147 $54,015,000 $367,449 $6,413 6.03%
    43% 139 $49,645,000 $357,158 $6,769 6.17%
    40% 132 $57,110,000 $432,652 $7,668 6.34%
    39% 125 $53,575,000 $428,600 $7,921 6.12%
    37% 124 $55,600,000 $448,387 $7,299 6.36%
    38% 119 $49,075,000 $412,395 $6,508 6.25%
    50-60% 117 $51,905,000 $443,632 $14,590 6.29%
    46% 108 $42,480,000 $393,333 $7,919 6.42%
    48% 105 $40,025,000 $381,190 $8,596 6.50%
    36% 105 $43,195,000 $411,381 $7,957 6.40%
    <20% 97 $35,915,000 $370,258 $6,139 6.45%
    45% 94 $34,790,000 $370,106 $7,422 6.57%
    47% 89 $31,835,000 $357,697 $7,846 6.28%
    >60% 8 $4,250,000 $531,250 $15,796 6.22%

    George Mason Mortgage lent most frequently to those with DTI ratios of 30-36%, with 574 originations. The next most common DTI ratio? 20-30%, with 426 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,601 $695,915,000 $434,675 $7,340 6.40%
    Not provided 652 $256,010,000 $392,653 $8,003 6.27%
    Black 549 $200,755,000 $365,674 $7,796 6.10%
    Asian 116 $53,710,000 $463,017 $8,008 6.32%
    Asian Indian 24 $11,540,000 $480,833 $8,432 6.43%
    American Indian 31 $10,775,000 $347,581 $6,959 6.09%
    Other Asian 6 $2,050,000 $341,667 $3,925 7.08%
    Chinese 2 $1,920,000 $960,000 $6,732 5.19%
    Vietnamese 2 $1,230,000 $615,000 $7,780 7.06%
    Native Hawaiian or Islander 3 $765,000 $255,000 $8,875 4.54%
    Other Pacific Islander 1 $495,000 $495,000 $5,160 7.13%
    Korean 1 $445,000 $445,000 $14,600 5.99%
    Filipino 2 $390,000 $195,000 $5,026 5.06%

    Approval Rates

    Total approvals of all applications
    95.61%

    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
    75.35%

    George Mason Mortgage has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,990 $1,236,000,000 $413,378

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,990 $1,236,000,000 $413,378

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 89 $24,775,000 $278,371 $5,354 6.36%
    40-60% 218 $76,290,000 $349,954 $6,430 6.46%
    60-80% 693 $336,655,000 $485,794 $7,558 6.55%
    80-100% 1,903 $774,835,000 $407,165 $7,633 6.20%
    Over 100% 45 $21,035,000 $467,444 $20,008 6.22%
    Under 20% 42 $2,410,000 $57,381 $1,877 6.22%