George Mason Mortgage Rates, Fees & Info

Fairfax, VA

LEI: 2549006II76YXSS5XM65

Tax ID: 54-2024584

2020 Data | 2019 Data | 2018 Data


Overview

George Mason Mortgage is a mid-sized mortgage company specializing in Refi and 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 include Washington, Frederick, Richmond, Baltimore, and Virginia Beach among others. They have an above average approval rate for mortages when compared nationally -- and 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

15,390

Origination Dollar Volume (All Markets)

$5,760,250,000

Relative Rate

George Mason Mortgage 's average 30 year fixed rate mortgage was 3.15%.

The 2020 average 30 year fixed rate mortgage across all markets was 3.36%.

This yields a difference of -0.21%.

Relative Fees

George Mason Mortgage 's average total fees for a 30 year fixed rate mortgage are $5,211.

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 $5,021.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 12,640 $4,703,790,000 $372,135 $4,351 3.13%
VA 1,569 $724,615,000 $461,832 $7,901 2.89%
FHA 992 $288,540,000 $290,867 $9,125 3.15%
USDA 189 $43,305,000 $229,127 $6,227 3.00%

For the 2020 period, George Mason Mortgage 's most frequently originated loan type was Conventional, with 12,640 originations. Their 2nd most popular type is VA, with 1,569 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 7,212 $2,754,480,000 $381,930 $3,931 3.05%
Home Purchase 6,781 $2,520,015,000 $371,629 $6,324 3.14%
Cash Out Refi 1,372 $477,420,000 $347,974 $4,485 3.20%
Home Improvement 25 $8,335,000 $333,400 $14,514 3.38%

For the 2020, George Mason Mortgage 's most frequently cited loan purpose was Refi, with 7,212 originations. The 2nd most popular reason was Home Purchase, with 6,781 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 13,423 $5,112,855,000 $380,903 $5,211 3.14%
15 Year 1,282 $383,950,000 $299,493 $3,474 2.72%
20 Year 379 $115,245,000 $304,077 $3,572 3.02%
Other 146 $52,470,000 $359,384 $3,651 3.10%
30+ year 91 $81,225,000 $892,582 $13,026 3.79%
10 Year 69 $14,505,000 $210,217 $3,059 2.70%

For the 2020, George Mason Mortgage 's most frequently cited loan length was 30 Year, with 13,423 originations. The 2nd most popular length was 15 Year, with 1,282 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 12,137 $4,607,105,000 $379,592
$2k-3k 1,028 $344,880,000 $335,486
$<1k 988 $223,290,000 $226,002
$3k-4k 755 $292,885,000 $387,927
$5k+ 482 $292,090,000 $605,996

$5,211 was George Mason Mortgage 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 12,137 originations.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 7,368 $3,186,130,000 $432,428 $5,295 3.10%
FREDERICK-GAITHERSBURG-ROCKVILLE, MD 1,605 $688,455,000 $428,944 $5,023 3.08%
RICHMOND, VA 1,914 $518,180,000 $270,731 $4,777 3.16%
BALTIMORE-COLUMBIA-TOWSON, MD 1,406 $465,430,000 $331,031 $4,874 3.11%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 694 $212,670,000 $306,441 $5,740 3.11%
Outside of Metro Areas 615 $162,055,000 $263,504 $4,799 3.09%
HILTON HEAD ISLAND-BLUFFTON, SC 231 $83,905,000 $363,225 $3,846 3.13%
RALEIGH-CARY, NC 160 $51,840,000 $324,000 $3,231 3.07%
WINCHESTER, VA-WV 138 $38,880,000 $281,739 $4,281 3.10%
HAGERSTOWN-MARTINSBURG, MD-WV 173 $38,055,000 $219,971 $4,518 3.07%
SALISBURY, MD-DE 97 $33,025,000 $340,464 $4,469 3.05%
HARRISONBURG, VA 125 $29,885,000 $239,080 $3,975 3.10%
CHARLOTTE-CONCORD-GASTONIA, NC-SC 91 $28,875,000 $317,308 $3,976 3.10%
CHARLOTTESVILLE, VA 95 $27,925,000 $293,947 $4,177 3.13%
CHAMBERSBURG-WAYNESBORO, PA 46 $11,020,000 $239,565 $5,646 3.09%
STAUNTON, VA 45 $10,435,000 $231,889 $5,140 3.17%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 33 $10,305,000 $312,273 $4,864 3.09%
WILMINGTON, DE-MD-NJ 34 $10,070,000 $296,176 $5,440 3.14%
CHARLESTON-NORTH CHARLESTON, SC 22 $8,270,000 $375,909 $4,710 2.92%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 28 $8,030,000 $286,786 $3,786 3.12%
NORTH PORT-SARASOTA-BRADENTON, FL 24 $7,930,000 $330,417 $4,187 3.06%
DURHAM-CHAPEL HILL, NC 25 $7,525,000 $301,000 $3,279 3.02%
PHILADELPHIA, PA 18 $7,510,000 $417,222 $5,478 3.14%
YORK-HANOVER, PA 30 $6,580,000 $219,333 $5,159 2.96%
TAMPA-ST. PETERSBURG-CLEARWATER, FL 23 $6,485,000 $281,957 $4,849 3.06%
LYNCHBURG, VA 22 $5,750,000 $261,364 $4,150 2.98%
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 17 $5,685,000 $334,412 $6,401 2.82%
WILMINGTON, NC 12 $5,460,000 $455,000 $3,177 3.11%
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 17 $5,365,000 $315,588 $4,326 3.11%
JACKSONVILLE, FL 14 $5,230,000 $373,571 $6,009 3.01%
ORLANDO-KISSIMMEE-SANFORD, FL 16 $4,820,000 $301,250 $4,421 3.28%
MIAMI-MIAMI BEACH-KENDALL, FL 16 $4,180,000 $261,250 $5,252 3.04%
GREENVILLE-ANDERSON, SC 13 $3,655,000 $281,154 $2,970 2.95%
PALM BAY-MELBOURNE-TITUSVILLE, FL 11 $3,605,000 $327,727 $5,960 2.83%
CALIFORNIA-LEXINGTON PARK, MD 10 $3,360,000 $336,000 $3,391 3.05%
GETTYSBURG, PA 14 $3,150,000 $225,000 $5,590 3.11%
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 9 $3,035,000 $337,222 $5,554 2.93%
ROANOKE, VA 9 $2,925,000 $325,000 $3,999 3.08%
PITTSBURGH, PA 11 $2,705,000 $245,909 $4,170 3.02%
WINSTON-SALEM, NC 9 $2,535,000 $281,667 $5,338 3.12%
COLUMBIA, SC 10 $2,310,000 $231,000 $2,703 3.17%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 5 $1,985,000 $397,000 $7,528 2.92%
ASHEVILLE, NC 5 $1,795,000 $359,000 $3,918 2.92%
DOVER, DE 5 $1,765,000 $353,000 $7,633 2.83%
GREENSBORO-HIGH POINT, NC 9 $1,725,000 $191,667 $4,047 3.29%
HARRISBURG-CARLISLE, PA 13 $1,725,000 $132,692 $3,755 2.74%
GREENVILLE, NC 5 $1,715,000 $343,000 $2,889 3.05%
PORT ST. LUCIE, FL 4 $1,600,000 $400,000 $5,818 3.00%
HICKORY-LENOIR-MORGANTON, NC 5 $1,585,000 $317,000 $2,370 3.03%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 4 $1,490,000 $372,500 $5,404 2.84%
SAVANNAH, GA 2 $1,270,000 $635,000 $7,491 3.88%
CAPE CORAL-FORT MYERS, FL 5 $1,265,000 $253,000 $4,412 2.85%
NAPLES-MARCO ISLAND, FL 4 $1,100,000 $275,000 $5,579 2.84%
LOUISVILLE/JEFFERSON COUNTY, KY-IN 3 $985,000 $328,333 $3,597 3.32%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ 3 $925,000 $308,333 $4,111 2.79%
FAYETTEVILLE, NC 4 $910,000 $227,500 $9,510 3.28%
CLEVELAND-ELYRIA, OH 3 $885,000 $295,000 $3,205 2.75%
PUNTA GORDA, FL 2 $730,000 $365,000 $5,407 2.88%
WARNER ROBINS, GA 2 $730,000 $365,000 $9,340 3.06%
JACKSONVILLE, NC 3 $695,000 $231,667 $4,280 2.79%
LANCASTER, PA 3 $675,000 $225,000 $4,010 2.87%
OCALA, FL 2 $660,000 $330,000 $4,180 3.37%
AUGUSTA-RICHMOND COUNTY, GA-SC 3 $655,000 $218,333 $3,119 2.75%
SEBASTIAN-VERO BEACH, FL 2 $640,000 $320,000 $4,103 3.50%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 2 $610,000 $305,000 $3,783 2.99%
BLACKSBURG-CHRISTIANSBURG, VA 3 $575,000 $191,667 $4,109 3.25%
COLUMBUS, OH 1 $505,000 $505,000 $4,367 3.38%
BURLINGTON, NC 4 $480,000 $120,000 $2,746 3.40%
GAINESVILLE, GA 1 $475,000 $475,000 $4,574 3.63%
PENSACOLA-FERRY PASS-BRENT, FL 2 $450,000 $225,000 $2,954 2.81%
KNOXVILLE, TN 2 $430,000 $215,000 $2,658 2.69%
NEW BERN, NC 2 $430,000 $215,000 $2,860 2.62%
GAINESVILLE, FL 1 $405,000 $405,000 $4,956 2.75%
FLORENCE, SC 1 $385,000 $385,000 $3,584 2.38%
MORGANTOWN, WV 2 $380,000 $190,000 $3,622 3.12%
PARKERSBURG-VIENNA, WV 1 $365,000 $365,000 $4,405 2.99%
READING, PA 2 $340,000 $170,000 $3,853 3.38%
DAYTON-KETTERING, OH 2 $330,000 $165,000 $5,639 3.25%
GOLDSBORO, NC 2 $320,000 $160,000 $4,955 2.88%
STATE COLLEGE, PA 1 $295,000 $295,000 $3,975 2.99%
JOHNSON CITY, TN 1 $275,000 $275,000 $14,441 3.13%
SPARTANBURG, SC 1 $275,000 $275,000 $2,161 2.88%
THE VILLAGES, FL 1 $265,000 $265,000 $2,639 3.75%
CUMBERLAND, MD-WV 2 $230,000 $115,000 $3,206 3.18%
LEBANON, PA 1 $225,000 $225,000 $3,931 3.25%
LAKELAND-WINTER HAVEN, FL 1 $185,000 $185,000 $3,060 2.49%
KINGSPORT-BRISTOL, TN-VA 1 $185,000 $185,000 $3,675 2.88%
BRUNSWICK, GA 1 $185,000 $185,000 $3,364 2.75%
WHEELING, WV-OH 1 $175,000 $175,000 $3,560 3.25%
HUNTINGTON-ASHLAND, WV-KY-OH 1 $165,000 $165,000 $3,258 3.63%
TALLAHASSEE, FL 1 $155,000 $155,000 $3,638 3.13%
TOLEDO, OH 1 $155,000 $155,000 $3,559 2.99%
JOHNSTOWN, PA 1 $145,000 $145,000 $6,767 2.63%
BLOOMSBURG-BERWICK, PA 1 $105,000 $105,000 $2,864 2.99%

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

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 7,100 $2,719,550,000 $383,035
2.5-3% 6,685 $2,500,085,000 $373,984
<2.5% 1,229 $441,225,000 $359,011
4-5% 367 $97,145,000 $264,700
5-6% 9 $2,245,000 $249,444

During 2020, George Mason Mortgage 's average interest rate was 3.15%, while their most frequently originated rate bucket was 3-4%, with 7,100 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 7,239 $2,159,525,000 $298,318 $4,689 3.09%
$400k-600k 4,360 $2,102,220,000 $482,161 $5,512 3.07%
$100k-200k 1,805 $288,675,000 $159,931 $3,856 3.15%
$600k-1MM 1,385 $984,425,000 $710,776 $7,228 3.12%
$100,000 or less 444 $17,730,000 $39,932 $1,747 3.37%
$1MM+ 157 $207,675,000 $1,322,771 $11,197 3.34%

2020 saw George Mason Mortgage place emphasis on $200k-400k loans with 7,239 originations, totaling $2,159,525,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 2,389 $906,575,000 $379,479 $6,238 3.17%
$150k-250k 2,078 $982,300,000 $472,714 $6,223 3.17%
$50k-75k 1,644 $385,720,000 $234,623 $5,371 3.20%
$75k-100k 1,558 $477,560,000 $306,521 $5,986 3.17%
$250k+ 1,014 $654,520,000 $645,483 $6,408 3.22%
$50k or less 790 $157,880,000 $199,848 $4,684 3.21%

George Mason Mortgage lent most frequently to those with incomes in the $100k-150k range, with 2,389 originations. The second most popular income band? $150k-250k, with 2,078 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 3,984 $1,513,950,000 $380,008 $4,521 3.08%
30-36% 2,948 $1,107,660,000 $375,733 $4,963 3.13%
<20% 1,454 $527,090,000 $362,510 $3,910 3.03%
42% 534 $198,190,000 $371,142 $5,425 3.19%
40% 527 $189,915,000 $360,370 $5,265 3.15%
44% 526 $175,720,000 $334,068 $6,096 3.20%
41% 500 $187,430,000 $374,860 $5,676 3.20%
38% 493 $187,495,000 $380,314 $5,405 3.18%
39% 486 $175,720,000 $361,564 $5,625 3.17%
36% 484 $174,180,000 $359,876 $5,167 3.13%
43% 480 $163,450,000 $340,521 $5,489 3.23%
37% 475 $169,075,000 $355,947 $5,064 3.15%
49% 333 $125,905,000 $378,093 $6,430 3.11%
45% 306 $106,430,000 $347,810 $5,504 3.12%
48% 304 $109,640,000 $360,658 $5,781 3.11%
46% 274 $99,530,000 $363,248 $5,485 3.13%
47% 263 $92,665,000 $352,338 $5,916 3.11%
50-60% 244 $97,740,000 $400,574 $9,834 3.01%
>60% 9 $5,175,000 $575,000 $10,674 2.98%

George Mason Mortgage lent most frequently to those with DTI ratios of 20-30%, with 3,984 originations. The next most common DTI ratio? 30-36%, with 2,948 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 10,327 $3,835,005,000 $371,357 $4,917 3.11%
Not provided 2,927 $1,171,455,000 $400,224 $5,135 3.08%
Black 1,187 $371,815,000 $313,239 $6,051 3.21%
Asian 713 $288,605,000 $404,776 $4,840 3.02%
Asian Indian 97 $42,545,000 $438,608 $4,658 3.02%
American Indian 56 $18,000,000 $321,429 $5,689 3.17%
Other Asian 30 $10,620,000 $354,000 $4,726 3.13%
Native Hawaiian 16 $6,770,000 $423,125 $5,782 3.19%
Filipino 13 $4,665,000 $358,846 $6,719 3.12%
Korean 11 $4,655,000 $423,182 $5,637 3.02%
Vietnamese 5 $2,305,000 $461,000 $7,361 2.83%
Chinese 4 $1,960,000 $490,000 $4,885 2.84%
Japanese 1 $715,000 $715,000 $4,569 3.63%
Native Hawiian 1 $485,000 $485,000 $4,323 3.88%
Samoan 1 $325,000 $325,000 $4,418 3.25%
Other Pacific Islander 1 $325,000 $325,000 $3,703 2.49%

Approval Rates

Total approvals of all applications
97.47%

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
70.78%

George Mason Mortgage has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 15,390 $5,760,250,000 $374,285

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
Single Family (1-4 Units):Site-Built 15,390 $5,760,250,000 $374,285

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 485 $120,215,000 $247,866 $3,386 2.90%
40-60% 1,911 $668,585,000 $349,861 $3,628 2.97%
60-80% 5,525 $2,132,445,000 $385,963 $4,006 3.13%
80-100% 6,849 $2,678,955,000 $391,145 $6,027 3.13%
Over 100% 339 $153,275,000 $452,139 $15,425 2.95%
Under 20% 281 $6,775,000 $24,110 $652 3.47%