Group Mortgage Rates, Fees & Info

WILMINGTON, DE

LEI: 5493002N80S5V3OY3S68

Tax ID: 38-3922561

4.6 stars - out of 5 stars, based on 34 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Group Mortgage is a smaller mortgage company specializing in Home Purchase and Refi loans. Group Mortgage has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include Fort Collins, Greeley, Colorado Springs, Denver, and Boulder among others. Group 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. Group Mortgage is typically an average fee lendor.


Originations

1,133

Origination Dollar Volume (All Markets)

$405,055,000

Relative Rate

Group Mortgage 's average 30 year fixed rate mortgage of loans were 3.13%.

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

This yields a difference of -0.02%.

Relative Fees

Group Mortgage 's average total fees for a 30 year fixed rate mortgage are $5,208.

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
FORT COLLINS, CO (FHA|USDA|VA) 676 $235,680,000 $348,639 $4,830 3.06%
GREELEY, CO (FHA|USDA|VA) 220 $75,990,000 $345,409 $5,429 3.14%
COLORADO SPRINGS, CO (FHA|USDA|VA) 128 $50,410,000 $393,828 $5,637 3.08%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 47 $18,195,000 $387,128 $5,437 3.02%
BOULDER, CO (FHA|USDA|VA) 11 $6,755,000 $614,091 $5,735 3.07%
Outside of Metro Areas 11 $5,115,000 $465,000 $4,183 3.08%
RALEIGH-CARY, NC (FHA|USDA|VA) 6 $2,220,000 $370,000 $4,337 2.77%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 5 $1,885,000 $377,000 $5,802 3.08%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 3 $1,015,000 $338,333 $4,206 2.67%
Rockport, TX (FHA|USDA|VA) 2 $840,000 $420,000 $6,505 3.00%
CHEYENNE, WY (FHA|USDA|VA) 2 $770,000 $385,000 $6,499 2.88%
Breckenridge, CO (FHA|USDA|VA) 2 $580,000 $290,000 $4,309 3.13%
Fort Morgan, CO (FHA|USDA|VA) 2 $530,000 $265,000 $5,103 3.38%
Steamboat Springs, CO (FHA|USDA|VA) 1 $495,000 $495,000 $3,690 3.25%
GRAND JUNCTION, CO (FHA|USDA|VA) 2 $490,000 $245,000 $8,597 3.06%
Edwards, CO (FHA|USDA|VA) 1 $475,000 $475,000 $3,515 3.13%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $475,000 $475,000 $0 3.25%
Glenwood Springs, CO (FHA|USDA|VA) 1 $405,000 $405,000 $3,827 3.00%
Laramie, WY (FHA|USDA|VA) 1 $405,000 $405,000 $4,476 2.75%
Boone, NC (FHA|USDA|VA) 1 $365,000 $365,000 $0 3.38%
WINSTON-SALEM, NC (FHA|USDA|VA) 1 $315,000 $315,000 $3,328 2.75%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $305,000 $305,000 $6,027 2.88%
Durango, CO (FHA|USDA|VA) 1 $275,000 $275,000 $3,455 2.88%
Montrose, CO (FHA|USDA|VA) 1 $245,000 $245,000 $2,890 3.25%
PUEBLO, CO (FHA|USDA|VA) 2 $240,000 $120,000 $3,881 3.88%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $195,000 $195,000 $4,564 3.13%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $175,000 $175,000 $3,041 2.75%
LUBBOCK, TX (FHA|USDA|VA) 1 $115,000 $115,000 $0 3.63%
GREENVILLE, NC (FHA|USDA|VA) 1 $95,000 $95,000 $4,874 3.00%

Group Mortgage 's top markets include Fort Collins, Greeley, Colorado Springs, Denver, and Boulder among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,025 $362,015,000 $353,185 $4,615 3.10%
VA 66 $28,500,000 $431,818 $7,489 2.74%
FHA 42 $14,540,000 $346,190 $10,876 3.09%

For the 2021 period, Group Mortgage 's most frequently originated loan type of loans were Conventional, with 1,025 originations. Their 2nd most popular type is VA, with 66 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 621 $242,055,000 $389,783 $5,646 3.11%
Refi 305 $95,135,000 $311,918 $4,091 2.95%
Cash Out Refi 189 $62,705,000 $331,772 $4,773 3.18%
Other 16 $4,700,000 $293,750 $4,093 3.16%
Home Improvement 2 $460,000 $230,000 $5,873 3.13%

For the 2021, Group Mortgage 's most frequently cited loan purpose of loans were Home Purchase, with 621 originations. The 2nd most popular reason of loans were Refi, with 305 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 1,014 $368,840,000 $363,748 $5,208 3.13%
15 Year 71 $22,495,000 $316,831 $4,085 2.51%
20 Year 24 $6,910,000 $287,917 $3,916 2.90%
Other 18 $4,840,000 $268,889 $4,127 3.15%
10 Year 6 $1,970,000 $328,333 $3,861 2.48%

For the 2021, Group Mortgage 's most frequently cited loan length of loans were 30 Year, with 1,014 originations. The 2nd most popular length of loans were 15 Year, with 71 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 550 $199,780,000 $363,236
$3k-4k 180 $58,100,000 $322,778
$5k+ 120 $59,020,000 $491,833
$2k-3k 99 $34,385,000 $347,323
$<1k 20 $8,030,000 $401,500

$5,208 of loans were Group Mortgage 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 550 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 534 $188,220,000 $352,472
2.5-3% 500 $184,820,000 $369,640
<2.5% 79 $26,295,000 $332,848
4-5% 20 $5,720,000 $286,000

During 2021, Group Mortgage 's average interest rate of loans were 3.13%, while their most frequently originated rate bucket of loans were 3-4%, with 534 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 663 $202,775,000 $305,845 $4,840 3.08%
$400k-600k 310 $147,900,000 $477,097 $5,297 3.04%
$100k-200k 109 $18,115,000 $166,193 $3,940 3.19%
$600k-1MM 34 $23,810,000 $700,294 $7,813 3.07%
$1MM+ 9 $11,785,000 $1,309,444 $13,416 3.04%
$100,000 or less 8 $670,000 $83,750 $3,508 2.97%

2021 saw Group Mortgage place emphasis on $200k-400k loans with 663 originations, totaling $202,775,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 305 $111,375,000 $365,164 $5,093 3.11%
$150k-250k 243 $100,495,000 $413,560 $4,895 3.07%
$50k-75k 214 $63,490,000 $296,682 $4,829 3.07%
$75k-100k 214 $71,660,000 $334,860 $5,601 3.05%
$250k+ 80 $40,180,000 $502,250 $5,705 3.17%
$50k or less 65 $13,525,000 $208,077 $4,390 3.06%

Group Mortgage lent most frequently to those with incomes in the $100k-150k range, with 305 originations. The second most popular income band? $150k-250k, with 243 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 257 $88,405,000 $343,988 $4,747 3.05%
30-36% 218 $78,750,000 $361,239 $4,790 3.11%
<20% 90 $30,660,000 $340,667 $4,584 3.04%
40% 57 $20,315,000 $356,404 $5,249 3.12%
41% 45 $16,915,000 $375,889 $5,297 3.10%
39% 45 $15,075,000 $335,000 $4,915 3.31%
46% 42 $15,650,000 $372,619 $6,157 3.01%
37% 42 $18,440,000 $439,048 $5,956 3.08%
43% 40 $14,910,000 $372,750 $5,713 3.08%
38% 39 $15,075,000 $386,538 $4,784 3.15%
44% 38 $12,490,000 $328,684 $3,995 3.14%
42% 35 $13,385,000 $382,429 $5,051 3.06%
36% 33 $11,155,000 $338,030 $4,788 3.08%
49% 32 $10,630,000 $332,188 $5,149 3.07%
45% 30 $11,410,000 $380,333 $4,800 3.11%
47% 28 $10,290,000 $367,500 $5,990 3.05%
48% 26 $7,980,000 $306,923 $5,366 3.03%
50-60% 21 $7,915,000 $376,905 $9,315 2.95%
>60% 2 $900,000 $450,000 $8,514 2.88%

Group Mortgage lent most frequently to those with DTI ratios of 20-30%, with 257 originations. The next most common DTI ratio? 30-36%, with 218 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 819 $288,375,000 $352,106 $4,931 3.07%
Not provided 276 $102,420,000 $371,087 $5,341 3.10%
American Indian 17 $7,045,000 $414,412 $6,645 3.14%
Asian 9 $3,095,000 $343,889 $6,448 2.99%
Black 7 $2,045,000 $292,143 $6,726 3.11%
Other Pacific Islander 2 $1,020,000 $510,000 $8,079 3.06%
Filipino 2 $750,000 $375,000 $2,642 2.75%
Chinese 1 $305,000 $305,000 $3,635 3.00%

Approval Rates

Total approvals of all applications
99.44%

Group 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
86.80%

Group Mortgage has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 1,133 $405,055,000 $357,507

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,133 $405,055,000 $357,507

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 47 $10,275,000 $218,617 $3,668 2.93%
40-60% 201 $59,395,000 $295,498 $4,119 2.97%
60-80% 504 $183,760,000 $364,603 $4,750 3.16%
80-100% 372 $148,920,000 $400,323 $5,907 3.05%
Over 100% 5 $2,055,000 $411,000 $15,759 2.85%
Under 20% 4 $650,000 $162,500 $2,857 2.91%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
GRIFFIN FUNDING, INC. Other type of mortgage Closing on a mortgage 1 50.0%
GRIFFIN FUNDING, INC. VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%