Group Mortgage Rates, Fees & Info

WILMINGTON, DE

LEI: 5493002N80S5V3OY3S68

Tax ID: 38-3922561

3.6 stars - Updated: 2/19/24 - out of 5 stars, based on 22 reviews

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

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Mortgage Data

Review & Overview

Group Mortgage is a smaller mortgage company specializing in Home Purchase 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 by origination volume include: Fort Collins, Greeley, Colorado Springs, Denver, and Grand Junction among others. We have data for 24 markets. (Some data included below & more in-depth data is available with an active subscription.)

Group 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. Group 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 about average 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 6.56% 2/19/24
30 Year Conventional Refi 6.39% 2/19/24
30 Year Cash-out Refi 6.66% 2/19/24
30 Year FHA Purchase 7.41% 2/19/24
30 Year VA Purchase 6.12% 2/19/24
30 Year VA Refi 6.27% 2/19/24
15 Year Conventional Purchase 6.14% 2/19/24
15 Year Conventional Refi 5.74% 2/19/24
15 Year Cash-out Refi 5.74% 2/19/24
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.

Group Mortgage Mortgage Calculator






Your Estimates

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

This is not an official calculator from Group 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

490

Origination Dollar Volume (All Markets)

$209,390,000

Relative Rate

Group Mortgage's average 30 year fixed mortgage rate was 4.84%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of 0.08%.

Relative Fees (Closing Costs)

Group Mortgage's average total fees/closing costs for a 30 year fixed rate mortgage were $7,670.

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 $4,750.

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
FORT COLLINS, CO (FHA|USDA|VA) 234 $104,260,000 $445,556 $6,881 4.70%
GREELEY, CO (FHA|USDA|VA) 94 $37,240,000 $396,170 $8,409 4.73%
COLORADO SPRINGS, CO (FHA|USDA|VA) 73 $32,715,000 $448,151 $8,352 4.79%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 27 $12,875,000 $476,852 $7,658 4.74%
GRAND JUNCTION, CO (FHA|USDA|VA) 18 $5,610,000 $311,667 $8,027 4.58%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 7 $2,855,000 $407,857 $11,289 5.64%
BOULDER, CO (FHA|USDA|VA) 5 $2,615,000 $523,000 $7,869 4.70%
Outside of Metro Areas 5 $1,955,000 $391,000 $5,729 5.95%
Steamboat Springs, CO (FHA|USDA|VA) 5 $1,785,000 $357,000 $6,665 6.23%
Edwards, CO (FHA|USDA|VA) 2 $1,180,000 $590,000 $3,800 4.50%
RALEIGH-CARY, NC (FHA|USDA|VA) 2 $950,000 $475,000 $10,292 5.19%
CHEYENNE, WY (FHA|USDA|VA) 3 $775,000 $258,333 $3,902 5.38%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 2 $690,000 $345,000 $8,914 3.50%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 2 $670,000 $335,000 $10,404 6.25%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 2 $660,000 $330,000 $9,491 5.38%
CORPUS CHRISTI, TX (FHA|USDA|VA) 1 $555,000 $555,000 $13,184 5.38%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $325,000 $325,000 $6,189 3.88%
SHERMAN-DENISON, TX (FHA|USDA|VA) 1 $315,000 $315,000 $7,277 5.63%
VICTORIA, TX (FHA|USDA|VA) 1 $285,000 $285,000 $8,174 3.25%
Laramie, WY (FHA|USDA|VA) 1 $265,000 $265,000 $0 6.88%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $245,000 $245,000 $8,528 5.25%
Gillette, WY (FHA|USDA|VA) 1 $195,000 $195,000 $6,203 5.63%
PUEBLO, CO (FHA|USDA|VA) 1 $185,000 $185,000 $5,466 3.75%
Elizabeth City, NC (FHA|USDA|VA) 1 $185,000 $185,000 $3,796 6.50%
Group Mortgage's top markets include Fort Collins, Greeley, Colorado Springs, Denver, and Grand Junction among others.

Their top states include:
  • Colorado (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Wyoming (FHA|USDA|VA)
  • Similar Lenders

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

    The District Federal Credit Union
    Similarity Rank: 588
    U S WIDE FINANCIAL LLC
    Similarity Rank: 768
    DENVER COMMUNITY
    Similarity Rank: 1078
    AVENTA Credit Union
    Similarity Rank: 1085
    FOOTHILLS
    Similarity Rank: 1116
    INFINITY MORTGAGE HOLDINGS, LLC
    Similarity Rank: 1178
    Red Rocks Credit Union
    Similarity Rank: 1464
    PRIORITY HOME MORTGAGE, L.P.
    Similarity Rank: 1488
    PARTNERS UNITED FINANCIAL, LLC
    Similarity Rank: 1962
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 2184

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 425 $178,535,000 $420,082 $6,885 4.79%
    VA 44 $23,480,000 $533,636 $11,355 4.81%
    FHA 21 $7,375,000 $351,190 $12,269 4.54%

    For 2022, Group Mortgage's most frequently originated type of loan was Conventional, with 425 originations. Their 2nd most popular type was VA, with 44 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 433 $186,935,000 $431,721 $7,637 4.89%
    Cash Out Refi 43 $17,085,000 $397,326 $7,472 3.96%
    Refi 8 $3,100,000 $387,500 $6,483 3.69%
    Other 6 $2,270,000 $378,333 $5,687 3.75%

    For 2022, Group Mortgage's most frequently cited loan purpose was Home Purchase, with 433 originations. The 2nd most popular reason was Cash Out Refi, with 43 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 465 $200,405,000 $430,978 $7,670 4.84%
    15 Year 17 $6,305,000 $370,882 $6,295 3.46%
    20 Year 5 $1,905,000 $381,000 $5,061 4.25%
    10 Year 2 $380,000 $190,000 $3,376 4.31%
    Other 1 $395,000 $395,000 $6,556 3.25%

    For 2022, Group Mortgage's most frequently cited loan duration was 30 Year, with 465 originations. The 2nd most popular length was 15 Year, with 17 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 170 $82,000,000 $482,353
    $1k-2k 142 $65,680,000 $462,535
    $3k-4k 49 $14,545,000 $296,837
    $4k-5k 44 $15,100,000 $343,182
    $2k-3k 30 $11,160,000 $372,000
    $<1k 13 $6,065,000 $466,538

    Group Mortgage's average total fees were $7,670, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 170 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 149 $64,575,000 $433,389
    5-6% 137 $55,435,000 $404,635
    3-4% 129 $56,085,000 $434,767
    6-7% 53 $21,635,000 $408,208
    2.5-3% 11 $7,095,000 $645,000
    7-8% 7 $2,655,000 $379,286
    <2.5% 4 $1,910,000 $477,500

    During 2022, Group Mortgage's average interest rate for loans was 4.84%, while their most frequently originated rate bucket for loans was 4-5%, with 149 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 195 $93,885,000 $481,462 $8,290 4.72%
    $200k-400k 183 $57,375,000 $313,525 $6,584 4.90%
    $600k-1MM 69 $47,255,000 $684,855 $8,933 4.51%
    $100k-200k 36 $5,780,000 $160,556 $5,015 4.95%
    $100,000 or less 4 $360,000 $90,000 $3,740 5.84%
    $1MM+ 3 $4,735,000 $1,578,333 $16,221 3.75%

    2022 saw Group Mortgage place emphasis on $400k-600k loans with 195 originations, totaling $93,885,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 159 $67,195,000 $422,610 $8,094 4.86%
    $150k-250k 111 $56,275,000 $506,982 $6,978 4.79%
    $75k-100k 90 $33,230,000 $369,222 $7,165 4.68%
    $250k+ 56 $33,850,000 $604,464 $10,554 4.52%
    $50k-75k 54 $15,530,000 $287,593 $6,473 4.80%
    $50k or less 20 $3,310,000 $165,500 $4,996 5.10%

    Group Mortgage lent most frequently to those with incomes in the $100k-150k range, with 159 originations. The second most popular income band? $150k-250k, with 111 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 95 $40,815,000 $429,632 $7,169 4.55%
    30-36% 77 $33,005,000 $428,636 $7,791 4.91%
    <20% 27 $11,435,000 $423,519 $7,169 4.49%
    40% 25 $10,305,000 $412,200 $8,594 4.78%
    37% 25 $11,025,000 $441,000 $7,536 4.80%
    43% 24 $10,050,000 $418,750 $6,504 4.77%
    46% 24 $8,540,000 $355,833 $5,033 5.18%
    49% 24 $9,710,000 $404,583 $7,999 4.77%
    41% 23 $10,695,000 $465,000 $8,946 4.61%
    44% 21 $8,685,000 $413,571 $8,973 5.21%
    48% 20 $8,200,000 $410,000 $6,802 4.40%
    39% 19 $8,805,000 $463,421 $8,563 4.99%
    38% 18 $8,050,000 $447,222 $6,391 4.55%
    45% 16 $6,190,000 $386,875 $7,618 4.48%
    47% 15 $6,095,000 $406,333 $8,214 5.25%
    36% 14 $6,810,000 $486,429 $8,323 5.14%
    42% 12 $6,380,000 $531,667 $6,751 5.00%
    50-60% 11 $4,595,000 $417,727 $10,130 4.91%

    Group Mortgage lent most frequently to those with DTI ratios of 20-30%, with 95 originations. The next most common DTI ratio? 30-36%, with 77 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 367 $155,385,000 $423,392 $7,529 4.78%
    Not provided 108 $47,460,000 $439,444 $7,634 4.73%
    Asian 7 $3,115,000 $445,000 $8,534 4.89%
    American Indian 4 $1,730,000 $432,500 $9,511 5.19%
    Black 1 $485,000 $485,000 $3,133 5.25%
    Guamanian 1 $415,000 $415,000 $14,366 6.75%
    Chinese 1 $415,000 $415,000 $7,488 3.88%
    Korean 1 $385,000 $385,000 $2,477 4.75%

    Approval Rates

    Total approvals of all applications
    99.67%

    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
    77.76%

    Group Mortgage has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 490 $209,390,000 $427,327

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    490 $209,390,000 $427,327

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 36 $8,740,000 $242,778 $4,938 4.90%
    40-60% 68 $24,360,000 $358,235 $6,567 4.50%
    60-80% 162 $75,110,000 $463,642 $7,910 4.74%
    80-100% 206 $95,140,000 $461,845 $7,790 4.86%
    Over 100% 12 $5,110,000 $425,833 $14,441 5.08%
    Under 20% 6 $930,000 $155,000 $5,836 4.73%