Group Mortgage Rates, Fees & Info
WILMINGTON, DELEI: 5493002N80S5V3OY3S68
Tax ID: 38-3922561
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Mortgage Data
Review & 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 by origination volume include: Fort Collins, Greeley, Colorado Springs, Denver, and Boulder among others. We have data for 29 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% | 11/21/24 |
| 30 Year Conventional Refi | 6.39% | 11/21/24 |
| 30 Year Cash-out Refi | 6.66% | 11/21/24 |
| 30 Year FHA Purchase | 7.41% | 11/21/24 |
| 30 Year VA Purchase | 6.12% | 11/21/24 |
| 30 Year VA Refi | 6.27% | 11/21/24 |
| 15 Year Conventional Purchase | 6.14% | 11/21/24 |
| 15 Year Conventional Refi | 5.74% | 11/21/24 |
| 15 Year Cash-out Refi | 5.74% | 11/21/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,133Origination Dollar Volume (All Markets)
$405,055,000Top 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) | 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% |
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.
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Product Mix
For 2021, Group Mortgage's most frequently originated type of loan was Conventional, with 1,025 originations. Their 2nd most popular type was VA, with 66 originations.
Loan Reason
For 2021, Group Mortgage's most frequently cited loan purpose was Home Purchase, with 621 originations. The 2nd most popular reason was Refi, with 305 originations.
Loan Duration/Length
For 2021, Group Mortgage's most frequently cited loan duration was 30 Year, with 1,014 originations. The 2nd most popular length was 15 Year, with 71 originations.
Origination Fees/Closing Costs
Group Mortgage's average total fees were $5,208, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.13%, while their most frequently originated rate bucket for loans was 3-4%, with 534 originations.
Loan Sizing
2021 saw Group Mortgage place emphasis on $200k-400k loans with 663 originations, totaling $202,775,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications99.37%
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 origination88.88%
Group Mortgage has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,133 | $405,055,000 | $357,507 |
LTV Distribution
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% |