Guaranty Mortgage Services Rates, Fees & Info

SPRINGFIELD, IL

LEI: 549300GSN9VF5S618659

Tax ID: 52-2084053

2 stars - out of 5 stars, based on 19 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Guaranty Mortgage Services is a smaller mortgage company specializing in Home Purchase loans. Guaranty Mortgage 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 include Atlanta, Gainesville, Cookeville, Columbus, and Crossville among others. Guaranty Mortgage Services has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Guaranty Mortgage Services is typically a high fee lendor.


Originations

368

Origination Dollar Volume (All Markets)

$96,180,000

Relative Rate

Guaranty Mortgage Services 's average 30 year fixed rate mortgage of loans were 3.36%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.21%.

Relative Fees

Guaranty Mortgage Services 's average total fees for a 30 year fixed rate mortgage are $7,094.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 125 $37,505,000 $300,040 $7,482 3.30%
GAINESVILLE, GA (FHA|USDA|VA) 55 $16,315,000 $296,636 $7,629 3.28%
Cookeville, TN (FHA|USDA|VA) 51 $11,445,000 $224,412 $6,178 3.35%
COLUMBUS, GA-AL (FHA|USDA|VA) 49 $10,545,000 $215,204 $6,884 3.30%
Outside of Metro Areas 32 $6,880,000 $215,000 $6,400 3.31%
Crossville, TN (FHA|USDA|VA) 21 $3,595,000 $171,190 $5,158 3.35%
Jefferson, GA (FHA|USDA|VA) 9 $3,095,000 $343,889 $7,376 3.37%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 5 $1,025,000 $205,000 $5,599 3.20%
KNOXVILLE, TN (FHA|USDA|VA) 3 $915,000 $305,000 $6,478 3.00%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $660,000 $330,000 $7,735 3.75%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 3 $625,000 $208,333 $6,051 3.29%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $575,000 $575,000 $10,210 2.88%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $545,000 $545,000 $11,646 3.13%
Cornelia, GA (FHA|USDA|VA) 1 $355,000 $355,000 $7,296 3.25%
HUNTSVILLE, AL (FHA|USDA|VA) 1 $345,000 $345,000 $12,214 3.25%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 2 $340,000 $170,000 $4,545 3.69%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $265,000 $265,000 $5,409 3.13%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $265,000 $265,000 $10,907 2.99%
Lewisburg, TN (FHA|USDA|VA) 1 $245,000 $245,000 $6,058 3.25%
SAVANNAH, GA (FHA|USDA|VA) 1 $185,000 $185,000 $5,522 3.25%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 1 $165,000 $165,000 $5,161 2.99%
MACON-BIBB COUNTY, GA (FHA|USDA|VA) 1 $145,000 $145,000 $4,012 3.13%
Dayton, TN (FHA|USDA|VA) 1 $145,000 $145,000 $4,554 3.99%

Guaranty Mortgage Services 's top markets include Atlanta, Gainesville, Cookeville, Columbus, and Crossville among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 292 $78,120,000 $267,534 $6,365 3.26%
FHA 47 $10,545,000 $224,362 $9,896 3.56%
VA 25 $6,775,000 $271,000 $8,357 3.39%
USDA 4 $740,000 $185,000 $6,820 3.03%

For the 2021 period, Guaranty Mortgage Services 's most frequently originated loan type of loans were Conventional, with 292 originations. Their 2nd most popular type is FHA, with 47 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 273 $74,355,000 $272,363 $7,342 3.31%
Refi 58 $14,480,000 $249,655 $5,856 3.15%
Cash Out Refi 37 $7,345,000 $198,514 $5,835 3.53%

For the 2021, Guaranty Mortgage Services 's most frequently cited loan purpose of loans were Home Purchase, with 273 originations. The 2nd most popular reason of loans were Refi, with 58 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 337 $89,365,000 $265,178 $7,094 3.36%
15 Year 24 $4,840,000 $201,667 $5,270 2.65%
20 Year 5 $1,535,000 $307,000 $6,632 3.12%
Other 2 $440,000 $220,000 $4,716 3.13%

For the 2021, Guaranty Mortgage Services 's most frequently cited loan length of loans were 30 Year, with 337 originations. The 2nd most popular length of loans were 15 Year, with 24 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$3k-4k 203 $52,975,000 $260,961
$2k-3k 95 $14,385,000 $151,421
$5k+ 60 $27,210,000 $453,500
$1k-2k 6 $930,000 $155,000
$<1k 4 $680,000 $170,000

$7,094 of loans were Guaranty Mortgage Services 's average total fees, while their most frequently occuring range of origination fees were in the $3k-4k bucket, with 203 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 237 $60,865,000 $256,814
2.5-3% 99 $28,825,000 $291,162
4-5% 21 $4,535,000 $215,952
<2.5% 10 $1,800,000 $180,000
7-8% 1 $155,000 $155,000

During 2021, Guaranty Mortgage Services 's average interest rate of loans were 3.36%, while their most frequently originated rate bucket of loans were 3-4%, with 237 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 198 $54,820,000 $276,869 $7,340 3.30%
$100k-200k 117 $18,045,000 $154,231 $5,089 3.36%
$400k-600k 39 $18,425,000 $472,436 $10,446 3.19%
$100,000 or less 9 $775,000 $86,111 $4,202 3.64%
$600k-1MM 4 $3,010,000 $752,500 $12,073 2.94%
$1MM+ 1 $1,105,000 $1,105,000 $17,620 2.63%

2021 saw Guaranty Mortgage Services place emphasis on $200k-400k loans with 198 originations, totaling $54,820,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 98 $21,230,000 $216,633 $5,964 3.20%
$75k-100k 80 $20,140,000 $251,750 $7,628 3.38%
$50k or less 72 $11,730,000 $162,917 $5,447 3.41%
$100k-150k 63 $19,955,000 $316,746 $7,853 3.32%
$150k-250k 42 $16,650,000 $396,429 $8,514 3.17%
$250k+ 12 $6,290,000 $524,167 $9,983 3.53%

Guaranty Mortgage Services lent most frequently to those with incomes in the $50k-75k range, with 98 originations. The second most popular income band? $75k-100k, with 80 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 81 $20,525,000 $253,395 $6,215 3.30%
30-36% 64 $17,250,000 $269,531 $7,161 3.28%
42% 22 $7,620,000 $346,364 $9,056 3.26%
43% 20 $4,990,000 $249,500 $6,972 3.32%
<20% 18 $5,450,000 $302,778 $7,043 3.05%
46% 18 $4,170,000 $231,667 $6,048 3.28%
44% 16 $4,040,000 $252,500 $7,207 3.48%
39% 15 $4,415,000 $294,333 $9,203 3.54%
41% 15 $4,485,000 $299,000 $6,822 3.16%
37% 15 $3,605,000 $240,333 $6,186 3.23%
45% 13 $3,335,000 $256,538 $6,950 3.45%
48% 12 $2,760,000 $230,000 $8,405 3.48%
38% 11 $3,265,000 $296,818 $6,697 3.47%
47% 11 $2,175,000 $197,727 $6,028 3.25%
36% 11 $2,625,000 $238,636 $6,322 3.20%
50-60% 10 $1,870,000 $187,000 $6,991 3.54%
49% 8 $2,180,000 $272,500 $7,620 3.19%
40% 6 $1,140,000 $190,000 $6,395 3.50%
>60% 1 $95,000 $95,000 $4,508 3.13%

Guaranty Mortgage Services lent most frequently to those with DTI ratios of 20-30%, with 81 originations. The next most common DTI ratio? 30-36%, with 64 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 280 $70,860,000 $253,071 $6,723 3.31%
Not provided 39 $10,255,000 $262,949 $7,403 3.35%
Black 26 $7,710,000 $296,538 $7,997 3.28%
Asian 19 $6,275,000 $330,263 $7,898 3.20%
American Indian 3 $815,000 $271,667 $6,607 3.54%
Native Hawaiian 1 $265,000 $265,000 $10,892 3.25%

Approval Rates

Total approvals of all applications
97.32%

Guaranty Mortgage 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
66.22%

Guaranty Mortgage 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 368 $96,180,000 $261,359

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
368 $96,180,000 $261,359

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 9 $1,665,000 $185,000 $5,427 3.21%
40-60% 33 $6,475,000 $196,212 $5,368 3.16%
60-80% 121 $32,635,000 $269,711 $6,382 3.29%
80-100% 194 $51,820,000 $267,113 $7,237 3.35%
Over 100% 11 $3,585,000 $325,909 $14,317 3.35%

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%