Mortgage Financial Services Rates, Fees & Info

BATON ROUGE, LA

LEI: 5493009F6BJDCZMZ7Y26

Tax ID: 20-8468035

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 Antonio, Houston, San Angelo, and Little Rock among others. We have data for 72 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 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 6.83% 3/28/24
30 Year Conventional Refi 6.61% 3/28/24
30 Year Cash-out Refi 6.97% 3/28/24
30 Year FHA Purchase 7.61% 3/28/24
30 Year FHA Refi 7.22% 3/28/24
30 Year VA Purchase 6.50% 3/28/24
30 Year VA Refi 6.08% 3/28/24
30 Year USDA Purchase 7.02% 3/28/24
30 Year USDA Refi 6.81% 3/28/24
15 Year Conventional Purchase 6.26% 3/28/24
15 Year Conventional Refi 6.41% 3/28/24
15 Year Cash-out Refi 6.41% 3/28/24
15 Year VA Purchase 6.26% 3/28/24
15 Year VA Refi 6.46% 3/28/24
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

3,056

Origination Dollar Volume (All Markets)

$628,000,000
Show all (6) awards

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) 612 $160,520,000 $262,288 $8,142 4.42%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 332 $75,020,000 $225,964 $7,897 4.49%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 255 $62,065,000 $243,392 $6,859 4.44%
SAN ANGELO, TX (FHA|USDA|VA) 321 $59,115,000 $184,159 $5,741 4.32%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 263 $42,595,000 $161,958 $4,889 4.37%
TEXARKANA, TX-AR (FHA|USDA|VA) 189 $31,835,000 $168,439 $5,247 4.33%
TYLER, TX (FHA|USDA|VA) 135 $26,345,000 $195,148 $6,590 4.37%
LAREDO, TX (FHA|USDA|VA) 137 $26,155,000 $190,912 $7,223 4.46%
Outside of Metro Areas 164 $25,100,000 $153,049 $5,934 4.40%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 78 $23,110,000 $296,282 $7,032 3.99%
LAFAYETTE, LA (FHA|USDA|VA) 80 $15,180,000 $189,750 $6,096 4.52%
PINE BLUFF, AR (FHA|USDA|VA) 114 $13,310,000 $116,754 $4,428 4.44%
LONGVIEW, TX (FHA|USDA|VA) 80 $12,970,000 $162,125 $6,198 4.67%
ABILENE, TX (FHA|USDA|VA) 30 $5,700,000 $190,000 $4,606 3.83%
BATON ROUGE, LA (FHA|USDA|VA) 19 $5,245,000 $276,053 $6,231 4.20%
Gainesville, TX (FHA|USDA|VA) 21 $5,135,000 $244,524 $8,078 4.27%
SHERMAN-DENISON, TX (FHA|USDA|VA) 16 $3,260,000 $203,750 $8,030 4.64%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 15 $2,985,000 $199,000 $5,374 4.05%
Opelousas, LA (FHA|USDA|VA) 20 $2,900,000 $145,000 $5,877 4.31%
VICTORIA, TX (FHA|USDA|VA) 14 $2,450,000 $175,000 $5,782 4.91%
CORPUS CHRISTI, TX (FHA|USDA|VA) 8 $2,280,000 $285,000 $6,735 4.32%
LAKE CHARLES, LA (FHA|USDA|VA) 12 $2,010,000 $167,500 $6,324 4.53%
Athens, TX (FHA|USDA|VA) 13 $1,965,000 $151,154 $5,801 4.31%
BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 11 $1,685,000 $153,182 $7,126 5.32%
HOT SPRINGS, AR (FHA|USDA|VA) 9 $1,655,000 $183,889 $5,905 4.74%
Jacksonville, TX (FHA|USDA|VA) 9 $1,495,000 $166,111 $7,092 4.44%
SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 5 $1,055,000 $211,000 $6,878 3.98%
LUBBOCK, TX (FHA|USDA|VA) 8 $930,000 $116,250 $4,465 4.36%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 5 $885,000 $177,000 $5,343 4.53%
Mount Pleasant, TX (FHA|USDA|VA) 6 $860,000 $143,333 $5,537 4.40%
MIDLAND, TX (FHA|USDA|VA) 3 $855,000 $285,000 $7,350 4.58%
Fredericksburg, TX (FHA|USDA|VA) 3 $825,000 $275,000 $7,101 4.50%
Port Lavaca, TX (FHA|USDA|VA) 4 $650,000 $162,500 $6,633 4.66%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 4 $610,000 $152,500 $6,499 4.38%
Palestine, TX (FHA|USDA|VA) 4 $610,000 $152,500 $5,861 4.09%
Nacogdoches, TX (FHA|USDA|VA) 3 $575,000 $191,667 $6,074 4.92%
Kerrville, TX (FHA|USDA|VA) 3 $515,000 $171,667 $5,916 5.21%
Forrest City, AR (FHA|USDA|VA) 6 $490,000 $81,667 $3,833 4.77%
JONESBORO, AR (FHA|USDA|VA) 3 $445,000 $148,333 $4,324 4.71%
AMARILLO, TX (FHA|USDA|VA) 2 $410,000 $205,000 $5,074 4.75%
Stephenville, TX (FHA|USDA|VA) 1 $345,000 $345,000 $4,910 3.63%
Huntsville, TX (FHA|USDA|VA) 1 $345,000 $345,000 $6,572 4.00%
Malvern, AR (FHA|USDA|VA) 2 $320,000 $160,000 $4,759 4.25%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $315,000 $315,000 $3,692 4.38%
WICHITA FALLS, TX (FHA|USDA|VA) 3 $305,000 $101,667 $3,428 4.33%
Helena-West Helena, AR (FHA|USDA|VA) 2 $300,000 $150,000 $5,027 4.06%
KNOXVILLE, TN (FHA|USDA|VA) 1 $275,000 $275,000 $4,357 4.13%
Jennings, LA (FHA|USDA|VA) 2 $270,000 $135,000 $8,142 4.81%
BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 2 $270,000 $135,000 $5,882 4.88%
Granbury, TX (FHA|USDA|VA) 1 $255,000 $255,000 $3,106 3.38%
Brenham, TX (FHA|USDA|VA) 1 $205,000 $205,000 $8,712 4.50%
Alice, TX (FHA|USDA|VA) 1 $205,000 $205,000 $4,568 4.88%
Andrews, TX (FHA|USDA|VA) 1 $205,000 $205,000 $12,041 4.38%
WACO, TX (FHA|USDA|VA) 1 $205,000 $205,000 $6,629 3.50%
Russellville, AR (FHA|USDA|VA) 1 $185,000 $185,000 $2,226 4.25%
Rockport, TX (FHA|USDA|VA) 1 $185,000 $185,000 $3,287 4.38%
Big Spring, TX (FHA|USDA|VA) 1 $185,000 $185,000 $11,169 3.63%
Vernon, TX (FHA|USDA|VA) 1 $175,000 $175,000 $5,665 4.00%
Del Rio, TX (FHA|USDA|VA) 1 $165,000 $165,000 $8,327 4.25%
Pearsall, TX (FHA|USDA|VA) 1 $165,000 $165,000 $6,907 5.13%
Arkadelphia, AR (FHA|USDA|VA) 2 $160,000 $80,000 $2,784 5.63%
Lufkin, TX (FHA|USDA|VA) 1 $145,000 $145,000 $8,189 4.75%
EL PASO, TX (FHA|USDA|VA) 1 $135,000 $135,000 $6,320 4.63%
Hope, AR (FHA|USDA|VA) 1 $135,000 $135,000 $5,066 3.75%
Uvalde, TX (FHA|USDA|VA) 1 $125,000 $125,000 $6,280 4.75%
Paris, TX (FHA|USDA|VA) 1 $115,000 $115,000 $4,801 5.38%
Searcy, AR (FHA|USDA|VA) 1 $95,000 $95,000 $2,674 3.50%
Sulphur Springs, TX (FHA|USDA|VA) 1 $95,000 $95,000 $4,311 4.50%
HAMMOND, LA (FHA|USDA|VA) 1 $85,000 $85,000 $4,018 4.00%
Brownwood, TX (FHA|USDA|VA) 2 $80,000 $40,000 $4,869 5.81%
Levelland, TX (FHA|USDA|VA) 1 $75,000 $75,000 $4,990 3.88%
Camden, AR (FHA|USDA|VA) 1 $75,000 $75,000 $1,699 5.13%
Mortgage Financial Services's top markets include Dallas, San Antonio, Houston, San Angelo, and Little Rock among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)
  • Louisiana (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Mississippi (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.

    ARKANSAS Federal Credit Union
    Similarity Rank: 90
    State Bank of De Kalb
    Similarity Rank: 128
    First Security Bank
    Similarity Rank: 180
    First Castle Federal Credit Union
    Similarity Rank: 180
    First State Bank
    Similarity Rank: 187
    AAXY L.L.C.
    Similarity Rank: 192
    First Community Bank
    Similarity Rank: 195
    Eureka Homestead
    Similarity Rank: 201
    SOUTHERN LENDING SERVICES, LTD.
    Similarity Rank: 220

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,456 $324,600,000 $222,940 $5,540 4.43%
    FHA 1,113 $199,005,000 $178,801 $7,858 4.48%
    VA 340 $84,200,000 $247,647 $7,531 4.07%
    USDA 147 $20,195,000 $137,381 $5,106 4.29%

    For 2019, Mortgage Financial Services's most frequently originated type of loan was Conventional, with 1,456 originations. Their 2nd most popular type was FHA, with 1,113 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2,509 $496,365,000 $197,834 $6,713 4.43%
    Refi 353 $88,395,000 $250,411 $5,853 4.15%
    Cash Out Refi 193 $43,235,000 $224,016 $6,343 4.59%
    Other 1 $5,000 $5,000 $225 4.75%

    For 2019, Mortgage Financial Services's most frequently cited loan purpose was Home Purchase, with 2,509 originations. The 2nd most popular reason was Refi, with 353 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,864 $592,890,000 $207,015 $6,672 4.42%
    15 Year 123 $23,025,000 $187,195 $5,448 3.88%
    20 Year 34 $6,880,000 $202,353 $5,855 4.24%
    10 Year 21 $1,695,000 $80,714 $1,817 4.00%
    Other 14 $3,510,000 $250,714 $8,409 6.48%

    For 2019, Mortgage Financial Services's most frequently cited loan duration was 30 Year, with 2,864 originations. The 2nd most popular length was 15 Year, with 123 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,609 $306,025,000 $190,196
    $2k-3k 495 $87,895,000 $177,566
    $<1k 267 $59,925,000 $224,438
    $3k-4k 263 $54,175,000 $205,989
    $5k+ 251 $79,195,000 $315,518
    $4k-5k 164 $39,220,000 $239,146

    Mortgage Financial Services's average total fees were $6,672, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,609 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 1,630 $319,190,000 $195,822
    3-4% 1,001 $228,645,000 $228,417
    5-6% 379 $67,935,000 $179,248
    6-7% 15 $3,955,000 $263,667
    2.5-3% 13 $2,995,000 $230,385
    7-8% 9 $2,485,000 $276,111
    Over 8% 8 $2,730,000 $341,250
    <2.5% 1 $65,000 $65,000

    During 2019, Mortgage Financial Services's average interest rate for loans was 4.42%, while their most frequently originated rate bucket for loans was 4-5%, with 1,630 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 1,377 $209,005,000 $151,783 $5,820 4.48%
    $200k-400k 1,215 $326,685,000 $268,877 $7,804 4.29%
    $100,000 or less 321 $24,195,000 $75,374 $4,137 4.55%
    $400k-600k 134 $60,840,000 $454,030 $8,729 4.25%
    $600k-1MM 8 $5,580,000 $697,500 $15,400 5.20%
    $1MM+ 1 $1,695,000 $1,695,000 $14,307 3.88%

    2019 saw Mortgage Financial Services place emphasis on $100k-200k loans with 1,377 originations, totaling $209,005,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 818 $141,210,000 $172,628 $6,341 4.46%
    $50k or less 695 $95,655,000 $137,633 $5,355 4.41%
    $100k-150k 601 $149,395,000 $248,577 $7,367 4.36%
    $75k-100k 554 $118,370,000 $213,664 $7,095 4.42%
    $150k-250k 302 $91,860,000 $304,172 $7,325 4.30%
    $250k+ 82 $30,550,000 $372,561 $7,671 4.52%

    Mortgage Financial Services lent most frequently to those with incomes in the $50k-75k range, with 818 originations. The second most popular income band? $50k or less, with 695 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 510 $100,900,000 $197,843 $6,203 4.37%
    20-30% 433 $90,085,000 $208,048 $6,192 4.29%
    50-60% 320 $63,690,000 $199,031 $8,362 4.42%
    <20% 146 $30,520,000 $209,041 $5,301 4.20%
    42% 130 $26,410,000 $203,154 $6,368 4.40%
    44% 129 $28,355,000 $219,806 $6,567 4.58%
    43% 126 $25,960,000 $206,032 $6,692 4.44%
    39% 124 $25,590,000 $206,371 $6,667 4.31%
    40% 122 $24,090,000 $197,459 $6,187 4.43%
    38% 112 $23,930,000 $213,661 $6,808 4.43%
    46% 111 $22,205,000 $200,045 $6,592 4.54%
    45% 103 $21,635,000 $210,049 $6,454 4.39%
    37% 102 $20,510,000 $201,078 $6,273 4.35%
    49% 101 $21,525,000 $213,119 $6,790 4.38%
    47% 100 $21,880,000 $218,800 $6,928 4.45%
    36% 98 $19,370,000 $197,653 $5,742 4.48%
    41% 96 $19,000,000 $197,917 $7,043 4.52%
    48% 93 $20,055,000 $215,645 $7,186 4.48%
    >60% 2 $470,000 $235,000 $5,801 5.00%

    Mortgage Financial Services lent most frequently to those with DTI ratios of 30-36%, with 510 originations. The next most common DTI ratio? 20-30%, with 433 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,474 $503,920,000 $203,686 $6,420 4.38%
    Black 284 $55,040,000 $193,803 $7,148 4.57%
    Not provided 233 $54,575,000 $234,227 $7,560 4.48%
    Asian 53 $11,995,000 $226,321 $6,994 4.24%
    American Indian 10 $2,080,000 $208,000 $7,570 4.57%
    Native Hawaiian or Islander 1 $235,000 $235,000 $9,417 3.83%
    Asian Indian 1 $155,000 $155,000 $3,616 3.88%

    Approval Rates

    Total approvals of all applications
    99.07%

    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
    87.99%

    Mortgage Financial Services has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 3,056 $628,000,000 $205,497

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 29 $2,965,000 $102,241
    Single Family (1-4 Units):Site-Built 3,027 $625,035,000 $206,487

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 34 $4,380,000 $128,824 $4,684 4.18%
    40-60% 121 $22,335,000 $184,587 $5,157 4.15%
    60-80% 578 $128,640,000 $222,561 $5,839 4.42%
    80-100% 2,285 $466,535,000 $204,173 $6,906 4.41%
    Over 100% 1 $305,000 $305,000 $4,845 4.13%
    Under 20% 13 $465,000 $35,769 $1,208 4.24%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    MORTGAGE FIRM, INC., THE Other type of mortgage Trouble during payment process 1 50.0%
    MORTGAGE FIRM, INC., THE Conventional home mortgage Trouble during payment process 1 50.0%