Guaranty Mortgage Services Rates, Fees & Info
SPRINGFIELD, ILLEI: 549300GSN9VF5S618659
Tax ID: 52-2084053
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Mortgage Data
Review & Overview
Guaranty Mortgage Services is a smaller mortgage company specializing in 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 by origination volume include: Atlanta, Cookeville, Gainesville, Jefferson, and Crossville among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)Guaranty Mortgage 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. Guaranty Mortgage 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.99% | 3/27/23 |
| 30 Year Conventional Refi | 6.99% | 3/27/23 |
| 30 Year Cash-out Refi | 7.10% | 3/27/23 |
| 30 Year FHA Purchase | 7.72% | 3/27/23 |
| 30 Year FHA Refi | 6.27% | 3/27/23 |
| 30 Year VA Purchase | 6.65% | 3/27/23 |
| 30 Year USDA Purchase | 6.91% | 3/27/23 |
| 15 Year Conventional Purchase | 6.28% | 3/27/23 |
| 15 Year Conventional Refi | 6.63% | 3/27/23 |
| 15 Year Cash-out Refi | 6.63% | 3/27/23 |
| 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. | ||
Originations
195Origination Dollar Volume (All Markets)
$65,005,000Relative Rate
Guaranty Mortgage Services's average 30 year fixed mortgage rate was
5.27%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.51%.
Relative Fees (Closing Costs)
Guaranty Mortgage Services's average total fees/closing costs for a 30 year fixed rate
mortgage were $8,681.
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 $4,750.
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 |
|---|---|---|---|---|---|
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 89 | $33,615,000 | $377,697 | $8,924 | 5.12% |
| Cookeville, TN (FHA|USDA|VA) | 39 | $9,825,000 | $251,923 | $7,032 | 5.21% |
| GAINESVILLE, GA (FHA|USDA|VA) | 19 | $9,385,000 | $493,947 | $11,658 | 5.26% |
| Outside of Metro Areas | 19 | $4,275,000 | $225,000 | $7,300 | 5.62% |
| Jefferson, GA (FHA|USDA|VA) | 8 | $2,870,000 | $358,750 | $9,678 | 4.51% |
| Crossville, TN (FHA|USDA|VA) | 10 | $2,200,000 | $220,000 | $7,559 | 5.46% |
| COLUMBUS, GA-AL (FHA|USDA|VA) | 3 | $715,000 | $238,333 | $6,977 | 5.75% |
| NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $8,607 | 4.44% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $10,150 | 5.50% |
| Toccoa, GA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $7,699 | 5.63% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $9,805 | 4.25% |
| Dayton, TN (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $7,648 | 5.63% |
| McMinnville, TN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $7,643 | 5.63% |
| MACON-BIBB COUNTY, GA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $6,692 | 6.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against GUARANTY MORTGAGE SERVICES based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 14
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Similarity Rank: 2028
Product Mix
For 2022, Guaranty Mortgage Services's most frequently originated type of loan was Conventional, with 151 originations. Their 2nd most popular type was FHA, with 17 originations.
Loan Reason
For 2022, Guaranty Mortgage Services's most frequently cited loan purpose was Home Purchase, with 165 originations. The 2nd most popular reason was Cash Out Refi, with 24 originations.
Loan Duration/Length
For 2022, Guaranty Mortgage Services's most frequently cited loan duration was 30 Year, with 182 originations. The 2nd most popular length was 15 Year, with 10 originations.
Origination Fees/Closing Costs
Guaranty Mortgage Services's average total fees were $8,681, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 84 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 73 | $23,345,000 | $319,795 |
| 4-5% | 52 | $18,690,000 | $359,423 |
| 3-4% | 36 | $11,850,000 | $329,167 |
| 6-7% | 22 | $7,840,000 | $356,364 |
| 7-8% | 12 | $3,280,000 | $273,333 |
During 2022, Guaranty Mortgage Services's average interest rate for loans was 5.27%, while their most frequently originated rate bucket for loans was 5-6%, with 73 originations.
Loan Sizing
2022 saw Guaranty Mortgage Services place emphasis on $200k-400k loans with 110 originations, totaling $31,690,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k or less | 195 | $65,005,000 | $333,359 | $8,562 | 5.21% |
Guaranty Mortgage Services lent most frequently to those with incomes in the $50k or less range, with 195 originations.
Applicant Debt to Income Ratio
Guaranty Mortgage Services lent most frequently to those with DTI ratios of 20-30%, with 28 originations. The next most common DTI ratio? 30-36%, with 27 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.26%
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 origination62.56%
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 | 195 | $65,005,000 | $333,359 |
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% |