Guaranty Mortgage Services Rates, Fees & Info
SPRINGFIELD, ILLEI: 549300GSN9VF5S618659
Tax ID: 52-2084053
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage 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
368Origination Dollar Volume (All Markets)
$96,180,000Relative 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 applications97.32%
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 origination66.22%
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% |
