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. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top (well, only) market is Anchorage.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% | 5/4/24 |
| 30 Year Conventional Refi | 4.89% | 5/4/24 |
| 30 Year FHA Purchase | 6.00% | 5/4/24 |
| 30 Year VA Purchase | 5.03% | 5/4/24 |
| 15 Year Conventional Refi | 5.68% | 5/4/24 |
| 15 Year Cash-out Refi | 5.68% | 5/4/24 |
| 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
31Origination Dollar Volume (All Markets)
$9,485,000Top 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 |
|---|---|---|---|---|---|
| ANCHORAGE, AK (FHA|USDA|VA) | 27 | $7,955,000 | $294,630 | $8,083 | 4.58% |
| Outside of Metro Areas | 4 | $1,530,000 | $382,500 | $0 | 3.99% |
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.
Similarity Rank: 36
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 20 | $6,050,000 | $302,500 | $0 | 4.65% |
| VA | 9 | $3,255,000 | $361,667 | $10,675 | 4.07% |
| FHA | 2 | $180,000 | $90,000 | $2,898 | 5.06% |
For 2022, Guaranty Mortgage Service's most frequently originated type of loan was Conventional, with 20 originations. Their 2nd most popular type was VA, with 9 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 28 | $8,500,000 | $303,571 | $8,083 | 4.68% |
| Refi | 2 | $820,000 | $410,000 | $0 | 3.37% |
| Cash Out Refi | 1 | $165,000 | $165,000 | $0 | 1.99% |
For 2022, Guaranty Mortgage Service's most frequently cited loan purpose was Home Purchase, with 28 originations. The 2nd most popular reason was Refi, with 2 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 29 | $8,775,000 | $302,586 | $8,083 | 4.64% |
| 15 Year | 2 | $710,000 | $355,000 | $0 | 2.49% |
For 2022, Guaranty Mortgage Service's most frequently cited loan duration was 30 Year, with 29 originations. The 2nd most popular length was 15 Year, with 2 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 1 | $105,000 | $105,000 |
| $3k-4k | 1 | $405,000 | $405,000 |
| $4k-5k | 1 | $435,000 | $435,000 |
Guaranty Mortgage Service's average total fees were $8,083, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1 originations.
Interest Rates
During 2022, Guaranty Mortgage Service's average interest rate for loans was 4.64%, while their most frequently originated rate bucket for loans was 4-5%, with 10 originations.
Loan Sizing
2022 saw Guaranty Mortgage Service place emphasis on $200k-400k loans with 16 originations, totaling $4,860,000 in origination value.
Applicant Income
Guaranty Mortgage Service lent most frequently to those with incomes in the $100k-150k range, with 9 originations. The second most popular income band? $75k-100k, with 8 originations.
Applicant Debt to Income Ratio
Guaranty Mortgage Service lent most frequently to those with DTI ratios of 30-36%, with 7 originations. The next most common DTI ratio? 42%, with 4 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
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 origination87.10%
Guaranty Mortgage Service has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 31 | $9,485,000 | $305,968 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| GUARANTEED RATE INC. | Conventional home mortgage | Trouble during payment process | 1 | 50.0% |
| GUARANTEED RATE INC. | FHA mortgage | Trouble during payment process | 1 | 50.0% |