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

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Mortgage Data

Review & Overview

Mortgage Financial Services is a small mortgage company specializing in Home Purchase and Refi loans. Mortgage Financial Services has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Dallas, San Antonio, Houston, Tyler, and San Angelo among others. We have data for 87 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 an above 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

7,227

Origination Dollar Volume (All Markets)

$1,659,645,000
Show all (25) 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) 1,546 $422,690,000 $273,409 $6,632 3.08%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 820 $214,600,000 $261,707 $6,837 3.08%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 677 $173,335,000 $256,034 $6,607 3.05%
TYLER, TX (FHA|USDA|VA) 477 $102,865,000 $215,650 $7,047 3.04%
SAN ANGELO, TX (FHA|USDA|VA) 461 $99,085,000 $214,935 $5,679 3.03%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 301 $92,075,000 $305,897 $5,499 3.01%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 526 $83,220,000 $158,213 $4,855 3.18%
BATON ROUGE, LA (FHA|USDA|VA) 311 $74,275,000 $238,826 $6,813 3.00%
TEXARKANA, TX-AR (FHA|USDA|VA) 309 $58,225,000 $188,430 $5,066 3.05%
LAREDO, TX (FHA|USDA|VA) 264 $54,930,000 $208,068 $7,860 3.06%
Outside of Metro Areas 282 $53,410,000 $189,397 $5,634 3.14%
PINE BLUFF, AR (FHA|USDA|VA) 214 $27,920,000 $130,467 $5,103 3.29%
LONGVIEW, TX (FHA|USDA|VA) 123 $21,065,000 $171,260 $6,312 3.20%
EL PASO, TX (FHA|USDA|VA) 87 $16,225,000 $186,494 $6,808 3.00%
LAFAYETTE, LA (FHA|USDA|VA) 99 $16,095,000 $162,576 $6,103 3.25%
LAKE CHARLES, LA (FHA|USDA|VA) 65 $12,665,000 $194,846 $5,920 3.26%
ABILENE, TX (FHA|USDA|VA) 55 $11,735,000 $213,364 $4,825 2.95%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 61 $11,375,000 $186,475 $4,991 3.22%
Gainesville, TX (FHA|USDA|VA) 41 $10,605,000 $258,659 $5,961 3.11%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 38 $9,520,000 $250,526 $5,916 2.96%
Athens, TX (FHA|USDA|VA) 47 $9,425,000 $200,532 $6,171 3.15%
Searcy, AR (FHA|USDA|VA) 48 $8,280,000 $172,500 $5,196 2.95%
CORPUS CHRISTI, TX (FHA|USDA|VA) 21 $5,145,000 $245,000 $6,528 3.34%
Opelousas, LA (FHA|USDA|VA) 32 $4,840,000 $151,250 $5,077 3.15%
Jacksonville, TX (FHA|USDA|VA) 18 $4,070,000 $226,111 $7,502 3.33%
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 21 $4,015,000 $191,190 $6,302 2.95%
SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 18 $3,820,000 $212,222 $5,708 3.06%
SHERMAN-DENISON, TX (FHA|USDA|VA) 18 $3,780,000 $210,000 $6,325 3.47%
LUBBOCK, TX (FHA|USDA|VA) 18 $3,660,000 $203,333 $6,743 3.20%
DeRidder, LA (FHA|USDA|VA) 17 $3,105,000 $182,647 $5,019 3.23%
MIDLAND, TX (FHA|USDA|VA) 9 $2,795,000 $310,556 $5,444 2.92%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 12 $2,760,000 $230,000 $6,044 3.15%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 12 $2,730,000 $227,500 $5,515 2.99%
BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 15 $2,585,000 $172,333 $6,530 3.37%
Brenham, TX (FHA|USDA|VA) 8 $2,340,000 $292,500 $6,141 2.92%
HAMMOND, LA (FHA|USDA|VA) 12 $2,150,000 $179,167 $5,221 2.80%
Bonham, TX (FHA|USDA|VA) 6 $2,080,000 $346,667 $5,426 3.12%
BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 11 $1,815,000 $165,000 $6,954 2.86%
AMARILLO, TX (FHA|USDA|VA) 7 $1,795,000 $256,429 $5,503 2.75%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 7 $1,795,000 $256,429 $6,518 3.48%
Jennings, LA (FHA|USDA|VA) 11 $1,545,000 $140,455 $5,306 3.65%
Fredericksburg, TX (FHA|USDA|VA) 4 $1,340,000 $335,000 $6,306 3.56%
Rockport, TX (FHA|USDA|VA) 5 $1,275,000 $255,000 $6,292 3.47%
WACO, TX (FHA|USDA|VA) 4 $990,000 $247,500 $5,267 3.31%
Nacogdoches, TX (FHA|USDA|VA) 6 $890,000 $148,333 $6,308 3.37%
Lufkin, TX (FHA|USDA|VA) 4 $760,000 $190,000 $7,555 3.16%
Granbury, TX (FHA|USDA|VA) 3 $745,000 $248,333 $4,166 3.29%
ALEXANDRIA, LA (FHA|USDA|VA) 4 $730,000 $182,500 $5,876 2.87%
Bogalusa, LA (FHA|USDA|VA) 4 $610,000 $152,500 $4,308 3.22%
Natchez, MS-LA (FHA|USDA|VA) 5 $575,000 $115,000 $5,403 3.64%
Russellville, AR (FHA|USDA|VA) 3 $565,000 $188,333 $4,162 3.50%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $515,000 $515,000 $3,907 2.63%
El Campo, TX (FHA|USDA|VA) 3 $515,000 $171,667 $7,162 3.13%
JONESBORO, AR (FHA|USDA|VA) 4 $510,000 $127,500 $4,741 2.73%
Palestine, TX (FHA|USDA|VA) 4 $500,000 $125,000 $5,151 2.81%
Paragould, AR (FHA|USDA|VA) 4 $480,000 $120,000 $3,916 3.28%
Fort Polk South, LA (FHA|USDA|VA) 2 $470,000 $235,000 $3,789 2.75%
Ruston, LA (FHA|USDA|VA) 1 $455,000 $455,000 $5,382 2.63%
HOT SPRINGS, AR (FHA|USDA|VA) 4 $430,000 $107,500 $3,934 3.69%
Malvern, AR (FHA|USDA|VA) 3 $405,000 $135,000 $5,121 2.83%
Forrest City, AR (FHA|USDA|VA) 3 $375,000 $125,000 $5,973 3.00%
Mount Pleasant, TX (FHA|USDA|VA) 2 $340,000 $170,000 $5,955 3.56%
Beeville, TX (FHA|USDA|VA) 1 $335,000 $335,000 $8,739 3.88%
Sevierville, TN (FHA|USDA|VA) 2 $330,000 $165,000 $3,070 3.24%
Huntsville, TX (FHA|USDA|VA) 1 $325,000 $325,000 $9,296 2.50%
Mineral Wells, TX (FHA|USDA|VA) 2 $320,000 $160,000 $4,190 3.00%
Kerrville, TX (FHA|USDA|VA) 1 $305,000 $305,000 $3,733 2.75%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $275,000 $275,000 $8,358 2.75%
El Dorado, AR (FHA|USDA|VA) 2 $270,000 $135,000 $3,815 2.75%
Del Rio, TX (FHA|USDA|VA) 1 $265,000 $265,000 $3,942 2.50%
WICHITA FALLS, TX (FHA|USDA|VA) 2 $260,000 $130,000 $6,231 2.69%
Kingsville, TX (FHA|USDA|VA) 1 $255,000 $255,000 $5,689 3.63%
Sweetwater, TX (FHA|USDA|VA) 1 $255,000 $255,000 $7,843 3.00%
MONROE, LA (FHA|USDA|VA) 1 $255,000 $255,000 $3,271 3.99%
Stephenville, TX (FHA|USDA|VA) 1 $245,000 $245,000 $8,736 3.88%
Sulphur Springs, TX (FHA|USDA|VA) 1 $225,000 $225,000 $8,923 2.75%
Raymondville, TX (FHA|USDA|VA) 1 $225,000 $225,000 $12,272 3.63%
Port Lavaca, TX (FHA|USDA|VA) 1 $215,000 $215,000 $5,790 3.25%
Brownwood, TX (FHA|USDA|VA) 1 $215,000 $215,000 $7,791 2.75%
JACKSON, MS (FHA|USDA|VA) 1 $185,000 $185,000 $3,897 3.75%
Andrews, TX (FHA|USDA|VA) 1 $175,000 $175,000 $3,463 2.50%
HOUMA-THIBODAUX, LA (FHA|USDA|VA) 1 $175,000 $175,000 $4,181 2.25%
Corsicana, TX (FHA|USDA|VA) 1 $175,000 $175,000 $9,268 3.63%
VICTORIA, TX (FHA|USDA|VA) 1 $145,000 $145,000 $3,171 2.50%
ODESSA, TX (FHA|USDA|VA) 1 $105,000 $105,000 $6,499 3.13%
Minden, LA (FHA|USDA|VA) 1 $95,000 $95,000 $3,066 4.63%
JACKSON, TN (FHA|USDA|VA) 1 $95,000 $95,000 $5,735 2.88%
Mortgage Financial Services's top markets include Dallas, San Antonio, Houston, Tyler, and San Angelo among others.

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

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 4,387 $1,074,165,000 $244,852 $5,474 3.07%
    FHA 1,772 $346,020,000 $195,271 $7,969 3.17%
    VA 685 $180,245,000 $263,131 $7,244 2.98%
    USDA 383 $59,215,000 $154,608 $5,237 3.12%

    For 2020, Mortgage Financial Services's most frequently originated type of loan was Conventional, with 4,387 originations. Their 2nd most popular type was FHA, with 1,772 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 4,358 $945,440,000 $216,944 $6,763 3.14%
    Refi 2,219 $557,895,000 $251,417 $5,305 2.94%
    Cash Out Refi 650 $156,310,000 $240,477 $5,929 3.24%

    For 2020, Mortgage Financial Services's most frequently cited loan purpose was Home Purchase, with 4,358 originations. The 2nd most popular reason was Refi, with 2,219 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 6,308 $1,462,970,000 $231,923 $6,415 3.13%
    15 Year 566 $123,230,000 $217,721 $5,094 2.69%
    20 Year 211 $49,135,000 $232,867 $5,549 2.96%
    Other 78 $17,940,000 $230,000 $5,461 3.07%
    10 Year 64 $6,370,000 $99,531 $2,334 2.74%

    For 2020, Mortgage Financial Services's most frequently cited loan duration was 30 Year, with 6,308 originations. The 2nd most popular length was 15 Year, with 566 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 3,044 $657,540,000 $216,012
    $<1k 1,259 $297,065,000 $235,953
    $2k-3k 1,137 $229,615,000 $201,948
    $5k+ 743 $237,155,000 $319,186
    $3k-4k 655 $139,805,000 $213,443
    $4k-5k 389 $98,465,000 $253,123

    Mortgage Financial Services's average total fees were $6,415, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 3,044 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 3,225 $773,405,000 $239,816
    3-4% 2,742 $590,680,000 $215,419
    <2.5% 929 $234,925,000 $252,879
    4-5% 315 $58,395,000 $185,381
    5-6% 16 $2,240,000 $140,000

    During 2020, Mortgage Financial Services's average interest rate for loans was 3.13%, while their most frequently originated rate bucket for loans was 2.5-3%, with 3,225 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 3,334 $915,520,000 $274,601 $6,973 3.01%
    $100k-200k 2,879 $447,995,000 $155,608 $5,339 3.17%
    $400k-600k 553 $256,875,000 $464,512 $8,310 2.97%
    $100,000 or less 453 $33,565,000 $74,095 $3,942 3.30%
    $600k-1MM 7 $4,665,000 $666,429 $10,648 2.75%
    $1MM+ 1 $1,025,000 $1,025,000 $19,255 4.38%

    2020 saw Mortgage Financial Services place emphasis on $200k-400k loans with 3,334 originations, totaling $915,520,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 1,801 $338,215,000 $187,793 $6,119 3.13%
    $100k-150k 1,515 $407,795,000 $269,172 $6,648 3.05%
    $75k-100k 1,355 $301,745,000 $222,690 $6,421 3.10%
    $50k or less 1,322 $210,060,000 $158,896 $5,324 3.13%
    $150k-250k 945 $298,885,000 $316,280 $6,678 3.02%
    $250k+ 289 $102,945,000 $356,211 $6,760 2.99%

    Mortgage Financial Services lent most frequently to those with incomes in the $50k-75k range, with 1,801 originations. The second most popular income band? $100k-150k, with 1,515 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,531 $349,725,000 $228,429 $5,804 3.03%
    30-36% 1,269 $297,215,000 $234,212 $6,170 3.08%
    <20% 475 $104,715,000 $220,453 $5,145 2.96%
    50-60% 435 $91,655,000 $210,701 $8,129 3.18%
    39% 287 $65,725,000 $229,007 $6,065 3.08%
    42% 278 $65,280,000 $234,820 $6,600 3.11%
    40% 270 $62,920,000 $233,037 $6,291 3.15%
    44% 261 $59,025,000 $226,149 $6,601 3.23%
    41% 259 $57,935,000 $223,687 $6,215 3.17%
    37% 259 $56,785,000 $219,247 $5,962 3.13%
    38% 256 $56,140,000 $219,297 $5,989 3.13%
    43% 255 $60,145,000 $235,863 $6,460 3.14%
    36% 221 $49,645,000 $224,638 $6,162 3.08%
    46% 202 $47,660,000 $235,941 $6,902 3.10%
    49% 190 $43,710,000 $230,053 $7,509 3.18%
    45% 186 $43,620,000 $234,516 $6,777 3.09%
    47% 178 $41,800,000 $234,831 $6,901 3.09%
    48% 167 $40,145,000 $240,389 $6,718 3.19%
    >60% 3 $895,000 $298,333 $7,835 2.96%

    Mortgage Financial Services lent most frequently to those with DTI ratios of 20-30%, with 1,531 originations. The next most common DTI ratio? 30-36%, with 1,269 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 5,706 $1,320,650,000 $231,449 $6,180 3.08%
    Not provided 649 $151,505,000 $233,444 $6,460 3.07%
    Black 688 $138,740,000 $201,657 $6,484 3.19%
    Asian 139 $38,095,000 $274,065 $6,557 3.18%
    American Indian 37 $8,655,000 $233,919 $5,935 3.08%
    Asian Indian 2 $1,000,000 $500,000 $8,745 2.81%
    Native Hawaiian or Islander 5 $765,000 $153,000 $4,393 2.65%
    Other Asian 1 $235,000 $235,000 $10,066 2.88%

    Approval Rates

    Total approvals of all applications
    98.28%

    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
    97.47%

    Mortgage Financial Services has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 7,227 $1,659,645,000 $229,645

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 35 $4,225,000 $120,714
    Single Family (1-4 Units):Site-Built 7,192 $1,655,420,000 $230,175

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 124 $22,140,000 $178,548 $4,343 2.86%
    40-60% 565 $122,725,000 $217,212 $5,080 2.89%
    60-80% 1,986 $500,860,000 $252,195 $5,576 3.08%
    80-100% 4,278 $954,670,000 $223,158 $6,586 3.13%
    Over 100% 226 $56,220,000 $248,761 $10,306 3.00%
    Under 20% 39 $1,815,000 $46,538 $858 2.74%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    MORTGAGE FINANCIAL SERVICES FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%