Guaranty Mortgage Service Rates, Fees & Info
WATERLOO, IALEI: 5493005YTC55FC2VCK79
Tax ID: 56-2488476
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Mortgage Data
Review & Overview
Guaranty Mortgage Service is a smaller mortgage company specializing in Home Purchase loans. Guaranty Mortgage Service has a high proportion of conventional loans. Their top markets by origination volume include: Anchorage, Colorado Springs, and Juneau among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Guaranty Mortgage Service 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. Guaranty Mortgage Service 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 5.74% | 11/21/24 |
| 30 Year Conventional Refi | 4.89% | 11/21/24 |
| 30 Year FHA Purchase | 6.00% | 11/21/24 |
| 30 Year VA Purchase | 5.03% | 11/21/24 |
| 15 Year Conventional Refi | 5.68% | 11/21/24 |
| 15 Year Cash-out Refi | 5.68% | 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. | ||
Guaranty Mortgage Service Mortgage Calculator
Your Estimates
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This is not an official calculator from Guaranty Mortgage Service. 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
41Origination Dollar Volume (All Markets)
$14,605,000Awards
GUARANTY MORTGAGE SERVICE - 2021
GUARANTY MORTGAGE SERVICE is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| ANCHORAGE, AK (FHA|USDA|VA) | 36 | $12,910,000 | $358,611 | $7,622 | 2.75% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 2 | $910,000 | $455,000 | $17,964 | 2.88% |
| Outside of Metro Areas | 2 | $410,000 | $205,000 | $6,406 | 2.13% |
| Juneau, AK (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $1,879 | 2.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against GUARANTY MORTGAGE SERVICE 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
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 22 | $7,660,000 | $348,182 | $4,885 | 2.93% |
| VA | 19 | $6,945,000 | $365,526 | $9,037 | 2.46% |
For 2021, Guaranty Mortgage Service's most frequently originated type of loan was Conventional, with 22 originations. Their 2nd most popular type was VA, with 19 originations.
Loan Reason
For 2021, Guaranty Mortgage Service's most frequently cited loan purpose was Home Purchase, with 27 originations. The 2nd most popular reason was Refi, with 10 originations.
Loan Duration/Length
For 2021, Guaranty Mortgage Service's most frequently cited loan duration was 30 Year, with 38 originations. The 2nd most popular length was 15 Year, with 1 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $5k+ | 2 | $800,000 | $400,000 |
| $1k-2k | 1 | $155,000 | $155,000 |
| $2k-3k | 1 | $175,000 | $175,000 |
| $3k-4k | 1 | $235,000 | $235,000 |
| $4k-5k | 1 | $235,000 | $235,000 |
Guaranty Mortgage Service's average total fees were $8,075, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 2 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 19 | $6,725,000 | $353,947 |
| <2.5% | 14 | $4,880,000 | $348,571 |
| 3-4% | 8 | $3,000,000 | $375,000 |
During 2021, Guaranty Mortgage Service's average interest rate for loans was 2.72%, while their most frequently originated rate bucket for loans was 2.5-3%, with 19 originations.
Loan Sizing
2021 saw Guaranty Mortgage Service place emphasis on $200k-400k loans with 21 originations, totaling $6,595,000 in origination value.
Applicant Income
Guaranty Mortgage Service lent most frequently to those with incomes in the $100k-150k range, with 10 originations. The second most popular income band? $75k-100k, with 10 originations.
Applicant Debt to Income Ratio
Guaranty Mortgage Service lent most frequently to those with DTI ratios of 50-60%, with 6 originations. The next most common DTI ratio? 30-36%, with 5 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.08%
Guaranty Mortgage Service has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination80.49%
Guaranty Mortgage Service has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 41 | $14,605,000 | $356,220 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| GUARANTY HOME MORTGAGE CORPORATION | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |