Guaranty Mortgage Services Rates, Fees & Info

SPRINGFIELD, IL

LEI: 549300GSN9VF5S618659

Tax ID: 52-2084053

Latest/2023 | 2022 Data | 2021 Data | 2020 Data |

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Mortgage Data

Review & 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 by origination volume include: Atlanta, Gainesville, Cookeville, Columbus, and Jefferson among others. We have data for 20 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 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 6.99% 3/27/24
30 Year Conventional Refi 6.99% 3/27/24
30 Year Cash-out Refi 7.10% 3/27/24
30 Year FHA Purchase 7.72% 3/27/24
30 Year FHA Refi 6.27% 3/27/24
30 Year VA Purchase 6.65% 3/27/24
30 Year USDA Purchase 6.91% 3/27/24
15 Year Conventional Purchase 6.28% 3/27/24
15 Year Conventional Refi 6.63% 3/27/24
15 Year Cash-out Refi 6.63% 3/27/24
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.

Guaranty Mortgage Services Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Guaranty Mortgage 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

508

Origination Dollar Volume (All Markets)

$120,700,000

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) 188 $51,870,000 $275,904 $6,831 3.29%
GAINESVILLE, GA (FHA|USDA|VA) 64 $17,520,000 $273,750 $6,431 3.37%
Cookeville, TN (FHA|USDA|VA) 76 $15,160,000 $199,474 $5,885 3.36%
COLUMBUS, GA-AL (FHA|USDA|VA) 70 $15,120,000 $216,000 $6,617 3.28%
Jefferson, GA (FHA|USDA|VA) 21 $5,365,000 $255,476 $6,637 3.19%
Outside of Metro Areas 31 $5,345,000 $172,419 $5,121 3.41%
Crossville, TN (FHA|USDA|VA) 31 $5,075,000 $163,710 $5,632 3.30%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 6 $1,390,000 $231,667 $7,166 3.13%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 5 $795,000 $159,000 $4,611 3.70%
Dayton, TN (FHA|USDA|VA) 4 $660,000 $165,000 $6,098 3.31%
KNOXVILLE, TN (FHA|USDA|VA) 2 $370,000 $185,000 $5,199 3.38%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $365,000 $365,000 $8,763 3.88%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 2 $290,000 $145,000 $3,844 3.06%
McMinnville, TN (FHA|USDA|VA) 1 $225,000 $225,000 $5,275 3.13%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $215,000 $215,000 $6,035 3.63%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $205,000 $205,000 $5,008 3.38%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $205,000 $205,000 $5,602 3.50%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $185,000 $185,000 $4,888 3.13%
Tullahoma-Manchester, TN (FHA|USDA|VA) 1 $175,000 $175,000 $4,846 3.88%
Cornelia, GA (FHA|USDA|VA) 1 $165,000 $165,000 $4,494 3.88%
Guaranty Mortgage Services's top markets include Atlanta, Gainesville, Cookeville, Columbus, and Jefferson among others.

Their top states include:
  • Georgia (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • 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.

    Wilson Bank And Trust
    Similarity Rank: 240
    SmartBank
    Similarity Rank: 720
    Emory Alliance Credit Union
    Similarity Rank: 855
    SANCTUARY HOME MORTGAGE LLC
    Similarity Rank: 932
    Credence Funding Corporation
    Similarity Rank: 1560
    AMERICAN HOME MORTGAGE, INC.
    Similarity Rank: 1792
    COCA-COLA
    Similarity Rank: 2496
    Origin Bank
    Similarity Rank: 2592
    Kwik Mortgage Corporation
    Similarity Rank: 3026

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 376 $93,750,000 $249,335 $5,971 3.28%
    VA 49 $12,145,000 $247,857 $7,004 3.50%
    FHA 47 $9,185,000 $195,426 $8,855 3.33%
    USDA 36 $5,620,000 $156,111 $6,328 3.43%

    For 2020, Guaranty Mortgage Services's most frequently originated type of loan was Conventional, with 376 originations. Their 2nd most popular type was VA, with 49 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 396 $96,500,000 $243,687 $6,576 3.33%
    Refi 88 $19,460,000 $221,136 $5,520 3.16%
    Cash Out Refi 24 $4,740,000 $197,500 $5,943 3.67%

    For 2020, Guaranty Mortgage Services's most frequently cited loan purpose was Home Purchase, with 396 originations. The 2nd most popular reason was Refi, with 88 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 463 $111,845,000 $241,566 $6,487 3.36%
    15 Year 33 $6,705,000 $203,182 $5,120 2.86%
    20 Year 10 $2,010,000 $201,000 $5,428 3.17%
    10 Year 2 $140,000 $70,000 $2,936 3.44%

    For 2020, Guaranty Mortgage Services's most frequently cited loan duration was 30 Year, with 463 originations. The 2nd most popular length was 15 Year, with 33 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $3k-4k 172 $38,790,000 $225,523
    $2k-3k 163 $24,655,000 $151,258
    $4k-5k 73 $23,525,000 $322,260
    $5k+ 55 $25,255,000 $459,182
    $<1k 25 $5,185,000 $207,400
    $1k-2k 20 $3,290,000 $164,500

    Guaranty Mortgage Services's average total fees were $6,487, while their most frequently occuring range of origination fees (closing costs) were in the $3k-4k bucket, with 172 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 284 $62,920,000 $221,549
    2.5-3% 183 $49,135,000 $268,497
    4-5% 29 $6,105,000 $210,517
    <2.5% 7 $1,815,000 $259,286
    5-6% 5 $725,000 $145,000

    During 2020, Guaranty Mortgage Services's average interest rate for loans was 3.36%, while their most frequently originated rate bucket for loans was 3-4%, with 284 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 235 $63,395,000 $269,766 $6,723 3.24%
    $100k-200k 211 $32,875,000 $155,806 $5,208 3.43%
    $400k-600k 43 $19,935,000 $463,605 $9,639 3.14%
    $100,000 or less 15 $1,235,000 $82,333 $3,746 3.61%
    $600k-1MM 4 $3,260,000 $815,000 $20,725 3.28%

    2020 saw Guaranty Mortgage Services place emphasis on $200k-400k loans with 235 originations, totaling $63,395,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 137 $26,645,000 $194,489 $5,544 3.36%
    $100k-150k 111 $31,335,000 $282,297 $6,946 3.27%
    $50k or less 105 $16,245,000 $154,714 $5,462 3.37%
    $75k-100k 88 $21,180,000 $240,682 $6,416 3.22%
    $150k-250k 54 $19,450,000 $360,185 $7,856 3.37%
    $250k+ 12 $5,580,000 $465,000 $11,404 3.36%

    Guaranty Mortgage Services lent most frequently to those with incomes in the $50k-75k range, with 137 originations. The second most popular income band? $100k-150k, with 111 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 103 $24,295,000 $235,874 $6,175 3.25%
    30-36% 94 $21,850,000 $232,447 $6,549 3.31%
    44% 35 $8,355,000 $238,714 $6,396 3.33%
    <20% 31 $6,325,000 $204,032 $5,469 3.36%
    41% 26 $6,400,000 $246,154 $6,448 3.26%
    40% 23 $5,715,000 $248,478 $6,431 3.25%
    43% 21 $4,955,000 $235,952 $5,858 3.40%
    39% 21 $5,615,000 $267,381 $6,602 3.43%
    42% 19 $5,715,000 $300,789 $6,758 3.30%
    37% 19 $4,425,000 $232,895 $5,865 3.35%
    48% 18 $3,970,000 $220,556 $5,453 3.45%
    49% 16 $4,260,000 $266,250 $6,354 3.22%
    47% 16 $3,540,000 $221,250 $6,276 3.35%
    36% 15 $3,865,000 $257,667 $7,076 3.36%
    45% 14 $2,910,000 $207,857 $6,209 3.38%
    38% 13 $2,925,000 $225,000 $7,293 3.31%
    46% 13 $2,995,000 $230,385 $6,322 3.63%
    50-60% 11 $2,585,000 $235,000 $9,089 3.17%

    Guaranty Mortgage Services lent most frequently to those with DTI ratios of 20-30%, with 103 originations. The next most common DTI ratio? 30-36%, with 94 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 414 $95,510,000 $230,700 $6,254 3.33%
    Not provided 36 $10,500,000 $291,667 $7,766 3.27%
    Asian 30 $8,100,000 $270,000 $6,057 3.36%
    Black 27 $6,395,000 $236,852 $6,394 3.19%
    Native Hawaiian or Islander 1 $195,000 $195,000 $9,228 3.13%

    Approval Rates

    Total approvals of all applications
    97.74%

    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
    72.44%

    Guaranty Mortgage Services has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 508 $120,700,000 $237,598

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 508 $120,700,000 $237,598

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $1,320,000 $165,000 $4,791 3.14%
    40-60% 26 $5,710,000 $219,615 $5,486 3.25%
    60-80% 148 $35,150,000 $237,500 $5,851 3.31%
    80-100% 301 $72,145,000 $239,684 $6,420 3.34%
    Over 100% 24 $6,270,000 $261,250 $10,363 3.35%
    Under 20% 1 $105,000 $105,000 $4,538 2.38%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    GUARANTY HOME MORTGAGE CORPORATION Conventional home mortgage Trouble during payment process 1 100.0%