Mortgage Financial Services Rates, Fees & Info

BATON ROUGE, LA

LEI: 5493009F6BJDCZMZ7Y26

Tax ID: 20-8468035

3.9 stars - Updated: 6/23/24 - out of 5 stars, based on 45 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

Mortgage Data

Review & Overview

Mortgage Financial Services is a smaller mortgage company specializing in Home Purchase loans. Mortgage Financial Services has a high proportion of conventional loans. They have a a high proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Dallas, San Angelo, Houston, San Antonio, and Texarkana among others. We have data for 81 markets. (Some data included below & more in-depth data is available with an active subscription.)

Mortgage Financial Services 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. Mortgage Financial Services is typically a high 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 relatively high 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 6.83% 6/23/24
30 Year Conventional Refi 6.61% 6/23/24
30 Year Cash-out Refi 6.97% 6/23/24
30 Year FHA Purchase 7.61% 6/23/24
30 Year FHA Refi 7.22% 6/23/24
30 Year VA Purchase 6.50% 6/23/24
30 Year VA Refi 6.08% 6/23/24
30 Year USDA Purchase 7.02% 6/23/24
30 Year USDA Refi 6.81% 6/23/24
15 Year Conventional Purchase 6.26% 6/23/24
15 Year Conventional Refi 6.41% 6/23/24
15 Year Cash-out Refi 6.41% 6/23/24
15 Year VA Purchase 6.26% 6/23/24
15 Year VA Refi 6.46% 6/23/24
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.

Mortgage Financial Services Mortgage Calculator






Your Estimates

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

This is not an official calculator from Mortgage Financial Services. 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

2,059

Origination Dollar Volume (All Markets)

$534,045,000
Show all (8) awards

Relative Rate

Mortgage Financial Services's average 30 year fixed mortgage rate was 6.74%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.26%.

Relative Fees (Closing Costs)

Mortgage Financial Services's average total fees/closing costs for a 30 year fixed rate mortgage were $9,435.

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 $9,089.

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
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 308 $103,960,000 $337,532 $12,756 6.76%
SAN ANGELO, TX (FHA|USDA|VA) 223 $59,655,000 $267,511 $8,149 6.69%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 187 $51,595,000 $275,909 $10,431 6.77%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 158 $51,330,000 $324,873 $12,818 6.70%
TEXARKANA, TX-AR (FHA|USDA|VA) 142 $30,450,000 $214,437 $7,321 6.76%
Outside of Metro Areas 112 $24,160,000 $215,714 $7,961 6.94%
TYLER, TX (FHA|USDA|VA) 103 $23,435,000 $227,524 $8,807 6.81%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 95 $21,525,000 $226,579 $6,708 6.56%
ABILENE, TX (FHA|USDA|VA) 98 $21,470,000 $219,082 $8,317 6.81%
LONGVIEW, TX (FHA|USDA|VA) 50 $11,970,000 $239,400 $9,027 6.96%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 31 $11,815,000 $381,129 $11,919 6.69%
PINE BLUFF, AR (FHA|USDA|VA) 75 $11,525,000 $153,667 $6,505 6.79%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 40 $9,590,000 $239,750 $8,691 6.79%
Searcy, AR (FHA|USDA|VA) 42 $8,600,000 $204,762 $7,152 6.55%
LAREDO, TX (FHA|USDA|VA) 35 $7,785,000 $222,429 $11,317 6.67%
SPRINGFIELD, MO (FHA|USDA|VA) 30 $7,540,000 $251,333 $6,495 6.80%
EL PASO, TX (FHA|USDA|VA) 37 $7,515,000 $203,108 $8,262 6.78%
BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 28 $6,820,000 $243,571 $10,328 6.45%
SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 26 $6,490,000 $249,615 $7,041 6.41%
BATON ROUGE, LA (FHA|USDA|VA) 22 $5,880,000 $267,273 $7,761 6.59%
LAFAYETTE, LA (FHA|USDA|VA) 19 $4,025,000 $211,842 $6,204 6.74%
LAKE CHARLES, LA (FHA|USDA|VA) 18 $3,480,000 $193,333 $6,380 6.68%
Jacksonville, TX (FHA|USDA|VA) 11 $2,935,000 $266,818 $10,079 6.67%
Gainesville, TX (FHA|USDA|VA) 8 $2,870,000 $358,750 $10,571 6.83%
MIDLAND, TX (FHA|USDA|VA) 9 $2,595,000 $288,333 $12,989 5.92%
Granbury, TX (FHA|USDA|VA) 8 $2,400,000 $300,000 $12,385 6.48%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 5 $2,105,000 $421,000 $9,018 6.40%
Athens, TX (FHA|USDA|VA) 9 $1,825,000 $202,778 $10,019 6.87%
DeRidder, LA (FHA|USDA|VA) 11 $1,765,000 $160,455 $5,352 6.33%
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 5 $1,565,000 $313,000 $13,223 6.42%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 7 $1,515,000 $216,429 $10,507 6.53%
Fort Polk South, LA (FHA|USDA|VA) 7 $1,325,000 $189,286 $6,087 6.84%
Uvalde, TX (FHA|USDA|VA) 7 $1,315,000 $187,857 $6,556 6.59%
Eagle Pass, TX (FHA|USDA|VA) 6 $1,270,000 $211,667 $10,738 7.04%
SHERMAN-DENISON, TX (FHA|USDA|VA) 3 $1,105,000 $368,333 $15,627 6.96%
Mount Pleasant, TX (FHA|USDA|VA) 3 $955,000 $318,333 $11,911 5.96%
Huntsville, TX (FHA|USDA|VA) 3 $925,000 $308,333 $16,391 7.42%
WACO, TX (FHA|USDA|VA) 3 $925,000 $308,333 $13,308 6.88%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 4 $920,000 $230,000 $7,494 6.97%
FORT SMITH, AR-OK (FHA|USDA|VA) 3 $825,000 $275,000 $4,149 6.91%
BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 5 $825,000 $165,000 $8,070 6.98%
Brownwood, TX (FHA|USDA|VA) 3 $795,000 $265,000 $11,982 6.96%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $725,000 $725,000 $11,514 6.13%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $685,000 $685,000 $14,169 7.25%
Nacogdoches, TX (FHA|USDA|VA) 3 $685,000 $228,333 $6,794 6.96%
CORPUS CHRISTI, TX (FHA|USDA|VA) 2 $620,000 $310,000 $10,396 6.62%
Mineral Wells, TX (FHA|USDA|VA) 2 $470,000 $235,000 $9,777 6.19%
Palestine, TX (FHA|USDA|VA) 3 $465,000 $155,000 $9,556 7.71%
HOT SPRINGS, AR (FHA|USDA|VA) 3 $455,000 $151,667 $4,767 6.79%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $425,000 $425,000 $0 7.50%
Hope, AR (FHA|USDA|VA) 2 $420,000 $210,000 $3,040 6.56%
KNOXVILLE, TN (FHA|USDA|VA) 1 $415,000 $415,000 $11,611 7.38%
Big Spring, TX (FHA|USDA|VA) 2 $410,000 $205,000 $6,507 5.87%
Port Lavaca, TX (FHA|USDA|VA) 1 $405,000 $405,000 $16,111 5.99%
WICHITA FALLS, TX (FHA|USDA|VA) 2 $400,000 $200,000 $8,632 7.13%
Sweetwater, TX (FHA|USDA|VA) 2 $390,000 $195,000 $10,457 7.81%
Pearsall, TX (FHA|USDA|VA) 1 $385,000 $385,000 $15,318 6.13%
Helena-West Helena, AR (FHA|USDA|VA) 4 $360,000 $90,000 $5,737 6.94%
LUBBOCK, TX (FHA|USDA|VA) 2 $360,000 $180,000 $4,560 6.75%
Del Rio, TX (FHA|USDA|VA) 2 $350,000 $175,000 $10,310 8.00%
Fredericksburg, TX (FHA|USDA|VA) 1 $345,000 $345,000 $5,367 6.13%
Opelousas, LA (FHA|USDA|VA) 2 $320,000 $160,000 $6,427 6.63%
HOUMA-THIBODAUX, LA (FHA|USDA|VA) 2 $290,000 $145,000 $7,322 6.94%
Rockport, TX (FHA|USDA|VA) 1 $285,000 $285,000 $16,584 6.38%
VICTORIA, TX (FHA|USDA|VA) 2 $280,000 $140,000 $9,266 6.63%
Forrest City, AR (FHA|USDA|VA) 2 $280,000 $140,000 $6,950 7.06%
Natchitoches, LA (FHA|USDA|VA) 1 $265,000 $265,000 $9,132 6.75%
MOBILE, AL (FHA|USDA|VA) 1 $225,000 $225,000 $5,744 5.63%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $205,000 $205,000 $7,723 7.25%
Lebanon, MO (FHA|USDA|VA) 1 $185,000 $185,000 $8,964 6.63%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $175,000 $175,000 $7,395 7.13%
OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $175,000 $175,000 $4,026 6.75%
JOPLIN, MO (FHA|USDA|VA) 1 $165,000 $165,000 $3,585 6.38%
Branson, MO (FHA|USDA|VA) 1 $165,000 $165,000 $3,745 6.99%
Lufkin, TX (FHA|USDA|VA) 1 $155,000 $155,000 $6,114 7.75%
Morgan City, LA (FHA|USDA|VA) 1 $145,000 $145,000 $3,668 6.75%
Levelland, TX (FHA|USDA|VA) 1 $135,000 $135,000 $5,034 6.63%
Paris, TX (FHA|USDA|VA) 1 $135,000 $135,000 $7,392 8.50%
Plainview, TX (FHA|USDA|VA) 1 $125,000 $125,000 $5,595 6.00%
Lamesa, TX (FHA|USDA|VA) 1 $105,000 $105,000 $2,702 6.25%
ALEXANDRIA, LA (FHA|USDA|VA) 1 $85,000 $85,000 $3,745 6.13%
Mortgage Financial Services's top markets include Dallas, San Angelo, Houston, San Antonio, and Texarkana among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)
  • Louisiana (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Similar Lenders

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

    JEFFERSON FINANCIAL
    Similarity Rank: 80
    GREATER NEW ORLEANS
    Similarity Rank: 100
    First Security Bank
    Similarity Rank: 102
    State Bank of De Kalb
    Similarity Rank: 120
    MATTAMY HOME FUNDING, LLC
    Similarity Rank: 135
    VeraBank
    Similarity Rank: 155
    Eureka Homestead
    Similarity Rank: 228
    KEESLER
    Similarity Rank: 231
    Austin Bank, Texas
    Similarity Rank: 240

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 987 $266,655,000 $270,167 $7,866 6.74%
    FHA 825 $197,175,000 $239,000 $11,256 6.79%
    VA 184 $59,960,000 $325,870 $10,292 6.55%
    USDA 63 $10,255,000 $162,778 $6,130 6.55%

    For 2023, Mortgage Financial Services's most frequently originated type of loan was Conventional, with 987 originations. Their 2nd most popular type was FHA, with 825 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,903 $484,525,000 $254,611 $9,363 6.74%
    Refi 156 $49,520,000 $317,436 $10,109 6.71%

    For 2023, Mortgage Financial Services's most frequently cited loan purpose was Home Purchase, with 1,903 originations. The 2nd most popular reason was Refi, with 156 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,028 $526,010,000 $259,374 $9,435 6.74%
    15 Year 19 $5,545,000 $291,842 $8,985 6.21%
    20 Year 7 $1,955,000 $279,286 $8,477 6.46%
    10 Year 4 $210,000 $52,500 $1,956 6.40%
    Other 1 $325,000 $325,000 $12,862 8.25%

    For 2023, Mortgage Financial Services's most frequently cited loan duration was 30 Year, with 2,028 originations. The 2nd most popular length was 15 Year, with 19 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 589 $204,855,000 $347,801
    $1k-2k 418 $100,620,000 $240,718
    $2k-3k 289 $60,475,000 $209,256
    $4k-5k 260 $62,330,000 $239,731
    $3k-4k 240 $51,330,000 $213,875
    $<1k 228 $48,020,000 $210,614

    Mortgage Financial Services's average total fees were $9,435, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 589 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 1,176 $303,060,000 $257,704
    7-8% 539 $137,535,000 $255,167
    5-6% 270 $74,940,000 $277,556
    Over 8% 62 $14,440,000 $232,903
    4-5% 12 $4,070,000 $339,167

    During 2023, Mortgage Financial Services's average interest rate for loans was 6.74%, while their most frequently originated rate bucket for loans was 6-7%, with 1,176 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,010 $278,900,000 $276,139 $10,204 6.75%
    $100k-200k 688 $108,730,000 $158,038 $6,789 6.75%
    $400k-600k 207 $97,495,000 $470,990 $14,268 6.69%
    $100,000 or less 94 $7,380,000 $78,511 $4,437 6.74%
    $600k-1MM 59 $40,475,000 $686,017 $16,386 6.58%
    $1MM+ 1 $1,065,000 $1,065,000 $4,841 6.75%

    2023 saw Mortgage Financial Services place emphasis on $200k-400k loans with 1,010 originations, totaling $278,900,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 509 $97,145,000 $190,855 $8,172 6.73%
    $100k-150k 496 $141,800,000 $285,887 $10,058 6.77%
    $75k-100k 472 $115,080,000 $243,814 $9,571 6.79%
    $150k-250k 284 $110,750,000 $389,965 $12,146 6.71%
    $50k or less 201 $27,235,000 $135,498 $6,091 6.56%
    $250k+ 97 $42,035,000 $433,351 $11,127 6.84%

    Mortgage Financial Services lent most frequently to those with incomes in the $50k-75k range, with 509 originations. The second most popular income band? $100k-150k, with 496 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 329 $88,535,000 $269,103 $11,608 6.71%
    30-36% 271 $69,765,000 $257,435 $8,741 6.71%
    20-30% 244 $55,370,000 $226,926 $7,456 6.63%
    46% 100 $29,460,000 $294,600 $10,275 6.67%
    43% 98 $28,220,000 $287,959 $9,696 6.73%
    40% 91 $23,235,000 $255,330 $8,641 6.72%
    49% 90 $22,840,000 $253,778 $9,826 6.82%
    47% 89 $25,735,000 $289,157 $10,595 6.75%
    44% 89 $22,795,000 $256,124 $10,276 6.94%
    38% 82 $19,560,000 $238,537 $8,574 6.76%
    48% 81 $22,285,000 $275,123 $10,166 6.76%
    45% 81 $20,775,000 $256,481 $9,379 6.88%
    37% 81 $19,885,000 $245,494 $8,289 6.73%
    42% 78 $20,110,000 $257,821 $9,471 6.81%
    39% 70 $20,970,000 $299,571 $10,287 6.69%
    36% 68 $16,300,000 $239,706 $8,182 6.68%
    41% 63 $16,905,000 $268,333 $8,675 6.93%
    <20% 48 $8,960,000 $186,667 $6,286 6.82%
    >60% 6 $2,340,000 $390,000 $9,954 6.79%

    Mortgage Financial Services lent most frequently to those with DTI ratios of 50-60%, with 329 originations. The next most common DTI ratio? 30-36%, with 271 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,604 $412,660,000 $257,269 $9,117 6.73%
    Not provided 194 $51,160,000 $263,711 $10,021 6.80%
    Black 190 $49,460,000 $260,316 $10,764 6.81%
    Asian 48 $14,620,000 $304,583 $10,776 6.67%
    American Indian 19 $5,195,000 $273,421 $10,777 6.66%
    Asian Indian 2 $540,000 $270,000 $13,709 5.06%
    Native Hawaiian or Islander 2 $410,000 $205,000 $11,170 7.31%

    Approval Rates

    Total approvals of all applications
    96.56%

    Mortgage Financial Services 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
    64.79%

    Mortgage Financial Services has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,059 $534,045,000 $259,371

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,059 $534,045,000 $259,371

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 49 $8,505,000 $173,571 $5,852 6.37%
    40-60% 108 $23,500,000 $217,593 $6,841 6.58%
    60-80% 345 $100,175,000 $290,362 $8,981 6.74%
    80-100% 1,505 $387,775,000 $257,658 $9,637 6.77%
    Over 100% 46 $13,770,000 $299,348 $15,688 6.61%
    Under 20% 6 $320,000 $53,333 $2,347 6.69%