Gmfs Mortgage Rates, Fees & Info

CAMDEN, DE

LEI: 549300MCPCNPQAOB4032

Tax ID: 72-1441479

5 stars - Updated: 2/26/24 - out of 5 stars, based on 95 reviews

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Gmfs is a small mortgage company specializing in Home Purchase loans. Gmfs has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Baton Rouge, New Orleans, Huntsville, Lafayette, and Tallahassee among others. We have data for 156 markets. (Some data included below & more in-depth data is available with an active subscription.)

Gmfs 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. Gmfs 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 6.63% 2/26/24
30 Year Conventional Refi 6.54% 2/26/24
30 Year Cash-out Refi 6.75% 2/26/24
30 Year FHA Purchase 7.22% 2/26/24
30 Year FHA Refi 7.03% 2/26/24
30 Year VA Purchase 6.19% 2/26/24
30 Year VA Refi 5.93% 2/26/24
30 Year USDA Purchase 6.67% 2/26/24
30 Year USDA Refi 6.63% 2/26/24
15 Year Conventional Purchase 5.93% 2/26/24
15 Year Conventional Refi 5.97% 2/26/24
15 Year Cash-out Refi 5.97% 2/26/24
15 Year FHA Purchase 7.17% 2/26/24
15 Year FHA Refi 5.68% 2/26/24
15 Year VA Purchase 5.42% 2/26/24
15 Year VA Refi 6.11% 2/26/24
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.

Gmfs Mortgage Calculator






Your Estimates

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

This is not an official calculator from Gmfs. 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

9,018

Origination Dollar Volume (All Markets)

$2,364,020,000
Show all (111) awards

Relative Rate

Gmfs's average 30 year fixed mortgage rate was 4.76%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of -0%.

Relative Fees (Closing Costs)

Gmfs's average total fees/closing costs for a 30 year fixed rate mortgage were $5,064.

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
BATON ROUGE, LA (FHA|USDA|VA) 2,602 $683,510,000 $262,686 $5,041 4.74%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 1,519 $417,705,000 $274,987 $5,439 4.68%
HUNTSVILLE, AL (FHA|USDA|VA) 333 $106,365,000 $319,414 $4,664 4.48%
LAFAYETTE, LA (FHA|USDA|VA) 438 $105,940,000 $241,872 $4,775 4.58%
TALLAHASSEE, FL (FHA|USDA|VA) 327 $101,605,000 $310,719 $4,368 4.53%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 275 $92,625,000 $336,818 $4,692 4.47%
HAMMOND, LA (FHA|USDA|VA) 227 $55,375,000 $243,943 $5,328 4.81%
Outside of Metro Areas 266 $55,240,000 $207,669 $4,335 4.53%
MOBILE, AL (FHA|USDA|VA) 204 $47,370,000 $232,206 $4,139 4.53%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 142 $45,350,000 $319,366 $4,669 4.57%
LAKE CHARLES, LA (FHA|USDA|VA) 168 $37,930,000 $225,774 $4,984 4.68%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 149 $37,105,000 $249,027 $4,813 4.87%
HOUMA-THIBODAUX, LA (FHA|USDA|VA) 151 $33,485,000 $221,755 $5,847 4.61%
MONROE, LA (FHA|USDA|VA) 152 $33,030,000 $217,303 $4,405 4.53%
MONTGOMERY, AL (FHA|USDA|VA) 138 $31,260,000 $226,522 $5,042 4.73%
ALEXANDRIA, LA (FHA|USDA|VA) 137 $30,935,000 $225,803 $4,713 4.76%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 125 $30,415,000 $243,320 $5,295 5.03%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 92 $27,140,000 $295,000 $5,381 4.42%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 79 $23,155,000 $293,101 $5,518 4.64%
SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 83 $22,625,000 $272,590 $6,001 4.43%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 54 $20,150,000 $373,148 $6,773 4.49%
Natchitoches, LA (FHA|USDA|VA) 82 $19,410,000 $236,707 $4,147 4.60%
Russellville, AR (FHA|USDA|VA) 74 $15,870,000 $214,459 $3,439 4.31%
Tupelo, MS (FHA|USDA|VA) 81 $14,025,000 $173,148 $4,014 4.68%
Albertville, AL (FHA|USDA|VA) 55 $13,625,000 $247,727 $4,710 4.27%
MACON-BIBB COUNTY, GA (FHA|USDA|VA) 51 $13,315,000 $261,078 $4,888 4.48%
Opelousas, LA (FHA|USDA|VA) 59 $12,965,000 $219,746 $4,963 4.94%
Picayune, MS (FHA|USDA|VA) 54 $11,810,000 $218,704 $4,973 4.50%
DECATUR, AL (FHA|USDA|VA) 45 $11,635,000 $258,556 $4,566 4.67%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 26 $9,640,000 $370,769 $5,404 5.10%
ABILENE, TX (FHA|USDA|VA) 31 $8,015,000 $258,548 $3,961 5.10%
Thomasville, GA (FHA|USDA|VA) 35 $7,515,000 $214,714 $4,125 4.25%
JACKSON, MS (FHA|USDA|VA) 24 $7,080,000 $295,000 $4,878 4.70%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 23 $6,625,000 $288,043 $6,673 4.55%
Malvern, AR (FHA|USDA|VA) 37 $6,565,000 $177,432 $3,832 4.10%
HOT SPRINGS, AR (FHA|USDA|VA) 19 $6,145,000 $323,421 $4,432 5.20%
Natchez, MS-LA (FHA|USDA|VA) 35 $6,085,000 $173,857 $3,929 4.53%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 16 $6,010,000 $375,625 $5,904 4.45%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 20 $5,740,000 $287,000 $4,637 4.56%
Bogalusa, LA (FHA|USDA|VA) 28 $5,710,000 $203,929 $4,339 4.78%
DeRidder, LA (FHA|USDA|VA) 22 $5,490,000 $249,545 $4,540 5.04%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 22 $5,480,000 $249,091 $4,734 4.43%
Jennings, LA (FHA|USDA|VA) 19 $4,445,000 $233,947 $5,085 5.11%
HATTIESBURG, MS (FHA|USDA|VA) 19 $4,415,000 $232,368 $6,146 5.26%
Ruston, LA (FHA|USDA|VA) 19 $4,395,000 $231,316 $5,731 5.17%
Greenwood, MS (FHA|USDA|VA) 19 $4,065,000 $213,947 $4,741 5.32%
GAINESVILLE, GA (FHA|USDA|VA) 14 $4,030,000 $287,857 $5,253 4.23%
Morgan City, LA (FHA|USDA|VA) 25 $3,985,000 $159,400 $4,045 4.31%
Corinth, MS (FHA|USDA|VA) 27 $3,885,000 $143,889 $4,509 4.18%
McComb, MS (FHA|USDA|VA) 14 $3,180,000 $227,143 $6,246 4.30%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 7 $3,155,000 $450,714 $5,097 3.57%
GADSDEN, AL (FHA|USDA|VA) 17 $3,105,000 $182,647 $3,465 4.77%
Vicksburg, MS (FHA|USDA|VA) 13 $2,975,000 $228,846 $3,202 4.25%
WARNER ROBINS, GA (FHA|USDA|VA) 10 $2,650,000 $265,000 $5,233 4.65%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 6 $2,500,000 $416,667 $8,437 4.52%
PANAMA CITY, FL (FHA|USDA|VA) 5 $2,445,000 $489,000 $7,568 5.25%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 7 $2,285,000 $326,429 $12,592 4.82%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 6 $2,220,000 $370,000 $5,622 3.94%
Alexander City, AL (FHA|USDA|VA) 9 $2,155,000 $239,444 $3,540 4.26%
TUSCALOOSA, AL (FHA|USDA|VA) 9 $2,155,000 $239,444 $6,712 5.30%
SAVANNAH, GA (FHA|USDA|VA) 7 $2,135,000 $305,000 $6,235 5.57%
FORT SMITH, AR-OK (FHA|USDA|VA) 8 $1,970,000 $246,250 $6,125 4.30%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 10 $1,960,000 $196,000 $4,856 4.31%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 5 $1,885,000 $377,000 $4,501 4.53%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 7 $1,845,000 $263,571 $3,868 3.89%
Troy, AL (FHA|USDA|VA) 7 $1,795,000 $256,429 $4,718 5.02%
JOHNSON CITY, TN (FHA|USDA|VA) 9 $1,705,000 $189,444 $4,396 3.36%
Cullman, AL (FHA|USDA|VA) 4 $1,650,000 $412,500 $7,366 4.44%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 5 $1,645,000 $329,000 $5,481 4.45%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 4 $1,630,000 $407,500 $10,520 4.25%
FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 6 $1,620,000 $270,000 $3,173 5.33%
PROVO-OREM, UT (FHA|USDA|VA) 3 $1,485,000 $495,000 $3,613 4.00%
KNOXVILLE, TN (FHA|USDA|VA) 7 $1,455,000 $207,857 $4,452 4.28%
Fort Payne, AL (FHA|USDA|VA) 9 $1,395,000 $155,000 $2,436 3.94%
Granbury, TX (FHA|USDA|VA) 3 $1,385,000 $461,667 $13,220 4.92%
VALDOSTA, GA (FHA|USDA|VA) 6 $1,380,000 $230,000 $4,904 4.06%
ANNISTON-OXFORD, AL (FHA|USDA|VA) 4 $1,370,000 $342,500 $7,220 4.19%
Brookhaven, MS (FHA|USDA|VA) 5 $1,305,000 $261,000 $3,850 5.42%
ST. LOUIS, MO-IL (FHA|USDA|VA) 8 $1,300,000 $162,500 $3,983 4.76%
DOTHAN, AL (FHA|USDA|VA) 5 $1,255,000 $251,000 $3,758 3.95%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 5 $1,245,000 $249,000 $4,877 4.90%
Jefferson, GA (FHA|USDA|VA) 3 $1,235,000 $411,667 $7,267 4.46%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 6 $1,230,000 $205,000 $4,749 4.98%
Minden, LA (FHA|USDA|VA) 5 $1,105,000 $221,000 $6,383 4.05%
Fort Polk South, LA (FHA|USDA|VA) 6 $1,040,000 $173,333 $4,157 4.06%
Scottsboro, AL (FHA|USDA|VA) 5 $1,035,000 $207,000 $4,944 4.70%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 2 $990,000 $495,000 $6,884 3.44%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 3 $985,000 $328,333 $2,181 5.83%
Columbus, MS (FHA|USDA|VA) 4 $940,000 $235,000 $5,610 5.40%
WINSTON-SALEM, NC (FHA|USDA|VA) 2 $930,000 $465,000 $6,584 4.44%
RALEIGH-CARY, NC (FHA|USDA|VA) 4 $920,000 $230,000 $4,342 4.03%
Bainbridge, GA (FHA|USDA|VA) 2 $910,000 $455,000 $6,047 5.06%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 2 $860,000 $430,000 $10,877 4.94%
Moultrie, GA (FHA|USDA|VA) 3 $815,000 $271,667 $2,912 3.71%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 2 $790,000 $395,000 $6,961 3.63%
Talladega-Sylacauga, AL (FHA|USDA|VA) 3 $765,000 $255,000 $4,390 4.25%
TYLER, TX (FHA|USDA|VA) 2 $750,000 $375,000 $5,471 4.69%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 2 $740,000 $370,000 $13,269 4.93%
COLUMBUS, GA-AL (FHA|USDA|VA) 3 $735,000 $245,000 $8,694 5.17%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 4 $730,000 $182,500 $5,985 4.09%
LONGVIEW, TX (FHA|USDA|VA) 2 $670,000 $335,000 $3,031 3.75%
Milledgeville, GA (FHA|USDA|VA) 4 $630,000 $157,500 $3,012 3.44%
Selma, AL (FHA|USDA|VA) 4 $620,000 $155,000 $5,373 4.31%
Oxford, MS (FHA|USDA|VA) 3 $615,000 $205,000 $5,755 5.42%
LUBBOCK, TX (FHA|USDA|VA) 3 $595,000 $198,333 $3,608 4.33%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 2 $570,000 $285,000 $5,286 5.81%
Enterprise, AL (FHA|USDA|VA) 3 $555,000 $185,000 $2,090 4.58%
OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $545,000 $545,000 $8,021 5.13%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 2 $500,000 $250,000 $5,527 4.43%
Eufaula, AL-GA (FHA|USDA|VA) 2 $480,000 $240,000 $8,027 4.81%
JACKSONVILLE, FL (FHA|USDA|VA) 2 $480,000 $240,000 $4,082 5.25%
Cullowhee, NC (FHA|USDA|VA) 1 $465,000 $465,000 $2,987 3.25%
West Point, MS (FHA|USDA|VA) 3 $465,000 $155,000 $6,017 5.25%
Grenada, MS (FHA|USDA|VA) 3 $465,000 $155,000 $3,853 5.00%
Wauchula, FL (FHA|USDA|VA) 2 $450,000 $225,000 $2,129 5.18%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 2 $440,000 $220,000 $3,526 5.44%
Mountain Home, AR (FHA|USDA|VA) 1 $415,000 $415,000 $0 3.38%
SALT LAKE CITY, UT (FHA|USDA|VA) 1 $405,000 $405,000 $7,120 4.13%
Somerset, KY (FHA|USDA|VA) 1 $395,000 $395,000 $1,923 3.63%
LaGrange, GA-AL (FHA|USDA|VA) 2 $390,000 $195,000 $3,773 4.81%
Corsicana, TX (FHA|USDA|VA) 1 $375,000 $375,000 $1,320 7.25%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $375,000 $375,000 $4,635 4.88%
Cleveland, MS (FHA|USDA|VA) 2 $350,000 $175,000 $2,954 5.31%
KANKAKEE, IL (FHA|USDA|VA) 1 $335,000 $335,000 $3,352 5.25%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $325,000 $325,000 $7,947 5.25%
Bay City, TX (FHA|USDA|VA) 1 $325,000 $325,000 $0 5.99%
Cookeville, TN (FHA|USDA|VA) 1 $305,000 $305,000 $14,605 5.25%
LAREDO, TX (FHA|USDA|VA) 1 $305,000 $305,000 $2,598 6.63%
Jasper, AL (FHA|USDA|VA) 1 $275,000 $275,000 $8,956 5.75%
Elizabeth City, NC (FHA|USDA|VA) 1 $275,000 $275,000 $4,877 3.25%
Arkadelphia, AR (FHA|USDA|VA) 2 $270,000 $135,000 $4,549 5.19%
Cedartown, GA (FHA|USDA|VA) 1 $255,000 $255,000 $4,984 4.50%
ROCKFORD, IL (FHA|USDA|VA) 1 $255,000 $255,000 $3,208 5.63%
Ozark, AL (FHA|USDA|VA) 2 $240,000 $120,000 $2,009 3.81%
El Dorado, AR (FHA|USDA|VA) 1 $225,000 $225,000 $2,570 5.38%
Meridian, MS (FHA|USDA|VA) 1 $215,000 $215,000 $4,334 2.63%
SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $215,000 $215,000 $8,445 3.88%
BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 1 $215,000 $215,000 $6,694 6.75%
Georgetown, SC (FHA|USDA|VA) 1 $205,000 $205,000 $3,312 5.13%
Tullahoma-Manchester, TN (FHA|USDA|VA) 1 $195,000 $195,000 $3,453 5.00%
Nacogdoches, TX (FHA|USDA|VA) 1 $185,000 $185,000 $0 4.63%
Big Spring, TX (FHA|USDA|VA) 1 $185,000 $185,000 $1,551 4.63%
Sevierville, TN (FHA|USDA|VA) 1 $175,000 $175,000 $5,011 4.25%
COLUMBIA, SC (FHA|USDA|VA) 1 $175,000 $175,000 $3,547 3.38%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $175,000 $175,000 $2,092 3.50%
Laurel, MS (FHA|USDA|VA) 1 $175,000 $175,000 $1,435 5.63%
Atmore, AL (FHA|USDA|VA) 1 $175,000 $175,000 $3,017 2.63%
SPARTANBURG, SC (FHA|USDA|VA) 1 $175,000 $175,000 $4,631 6.13%
OCALA, FL (FHA|USDA|VA) 1 $155,000 $155,000 $2,512 7.13%
Huntsville, TX (FHA|USDA|VA) 1 $155,000 $155,000 $4,647 3.75%
DALTON, GA (FHA|USDA|VA) 1 $135,000 $135,000 $5,997 5.99%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $125,000 $125,000 $150 3.00%
JONESBORO, AR (FHA|USDA|VA) 1 $115,000 $115,000 $6,689 5.75%
DECATUR, IL (FHA|USDA|VA) 1 $65,000 $65,000 $3,443 4.25%
LOGAN, UT-ID (FHA|USDA|VA) 1 $65,000 $65,000 $0 3.75%
Hope, AR (FHA|USDA|VA) 1 $65,000 $65,000 $2,882 3.00%
Gmfs's top markets include Baton Rouge, New Orleans, Huntsville, Lafayette, and Tallahassee among others.

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

    We use machine learning to identify the top lenders compared against GMFS based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 6,363 $1,737,615,000 $273,081 $4,380 4.66%
    FHA 1,404 $330,910,000 $235,691 $7,098 4.73%
    USDA 774 $145,090,000 $187,455 $4,470 4.63%
    VA 477 $150,405,000 $315,314 $6,828 4.46%

    For 2022, Gmfs's most frequently originated type of loan was Conventional, with 6,363 originations. Their 2nd most popular type was FHA, with 1,404 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 6,587 $1,728,835,000 $262,462 $4,941 4.81%
    Refi 1,451 $410,805,000 $283,119 $4,993 4.17%
    Cash Out Refi 975 $222,515,000 $228,221 $5,140 4.31%
    Home Improvement 5 $1,865,000 $373,000 $7,803 4.37%

    For 2022, Gmfs's most frequently cited loan purpose was Home Purchase, with 6,587 originations. The 2nd most popular reason was Refi, with 1,451 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 8,229 $2,195,435,000 $266,792 $5,064 4.76%
    15 Year 566 $121,850,000 $215,283 $4,004 3.53%
    20 Year 147 $31,395,000 $213,571 $4,037 3.74%
    10 Year 35 $5,325,000 $152,143 $3,940 3.36%
    Other 34 $7,460,000 $219,412 $3,784 3.69%
    30+ year 7 $2,555,000 $365,000 $3,853 3.89%

    For 2022, Gmfs's most frequently cited loan duration was 30 Year, with 8,229 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 3,806 $988,090,000 $259,614
    $1k-2k 1,919 $467,645,000 $243,692
    $2k-3k 1,076 $256,290,000 $238,188
    $3k-4k 715 $193,645,000 $270,832
    $5k+ 607 $233,395,000 $384,506
    $4k-5k 429 $131,095,000 $305,583

    Gmfs's average total fees were $5,064, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 3,806 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 2,516 $663,360,000 $263,657
    5-6% 2,474 $645,710,000 $260,998
    4-5% 2,358 $631,730,000 $267,909
    6-7% 802 $206,450,000 $257,419
    2.5-3% 559 $144,665,000 $258,792
    7-8% 170 $40,100,000 $235,882
    <2.5% 132 $30,440,000 $230,606
    Over 8% 7 $1,565,000 $223,571

    During 2022, Gmfs's average interest rate for loans was 4.76%, while their most frequently originated rate bucket for loans was 3-4%, with 2,516 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 4,792 $1,331,760,000 $277,913 $5,265 4.67%
    $100k-200k 2,689 $417,405,000 $155,227 $3,870 4.63%
    $400k-600k 975 $460,045,000 $471,841 $6,444 4.66%
    $100,000 or less 373 $31,385,000 $84,142 $3,186 4.73%
    $600k-1MM 185 $118,855,000 $642,459 $7,588 4.53%
    $1MM+ 4 $4,570,000 $1,142,500 $11,752 4.69%

    2022 saw Gmfs place emphasis on $200k-400k loans with 4,792 originations, totaling $1,331,760,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 2,271 $471,875,000 $207,783 $4,695 4.68%
    $100k-150k 2,173 $649,345,000 $298,824 $5,343 4.67%
    $75k-100k 1,752 $441,570,000 $252,038 $5,010 4.67%
    $150k-250k 1,223 $448,735,000 $366,913 $5,562 4.74%
    $50k or less 1,213 $190,635,000 $157,160 $4,015 4.46%
    $250k+ 380 $160,650,000 $422,763 $5,919 4.69%

    Gmfs lent most frequently to those with incomes in the $50k-75k range, with 2,271 originations. The second most popular income band? $100k-150k, with 2,173 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,842 $464,810,000 $252,340 $4,501 4.48%
    30-36% 1,674 $433,340,000 $258,865 $4,677 4.63%
    <20% 550 $133,370,000 $242,491 $4,163 4.23%
    50-60% 540 $141,750,000 $262,500 $7,157 4.78%
    40% 381 $100,055,000 $262,612 $4,979 4.72%
    43% 363 $95,475,000 $263,017 $4,911 4.87%
    44% 351 $96,475,000 $274,858 $5,109 4.75%
    37% 336 $89,920,000 $267,619 $4,887 4.81%
    39% 334 $89,370,000 $267,575 $5,080 4.58%
    42% 331 $86,705,000 $261,949 $5,027 4.66%
    49% 329 $93,555,000 $284,362 $5,325 4.80%
    41% 321 $85,445,000 $266,184 $4,865 4.76%
    38% 312 $84,330,000 $270,288 $5,015 4.74%
    36% 290 $77,080,000 $265,793 $4,964 4.72%
    45% 271 $75,855,000 $279,908 $5,331 4.83%
    48% 264 $74,290,000 $281,402 $5,711 4.88%
    46% 256 $67,050,000 $261,914 $5,220 4.99%
    47% 251 $68,925,000 $274,602 $5,212 4.88%
    >60% 4 $1,000,000 $250,000 $6,863 5.16%

    Gmfs lent most frequently to those with DTI ratios of 20-30%, with 1,842 originations. The next most common DTI ratio? 30-36%, with 1,674 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 7,069 $1,863,695,000 $263,643 $4,866 4.65%
    Black 903 $222,465,000 $246,362 $5,623 4.74%
    Not provided 738 $189,880,000 $257,290 $5,189 4.65%
    Asian 261 $76,375,000 $292,625 $5,033 4.56%
    American Indian 33 $7,645,000 $231,667 $4,551 4.69%
    Native Hawaiian or Islander 13 $3,665,000 $281,923 $4,493 4.37%
    Filipino 1 $295,000 $295,000 $4,268 3.38%

    Approval Rates

    Total approvals of all applications
    97.24%

    Gmfs 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
    69.62%

    Gmfs 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 9,018 $2,364,020,000 $262,145

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    9,018 $2,364,020,000 $262,145

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 197 $36,185,000 $183,680 $3,841 4.35%
    40-60% 730 $159,030,000 $217,849 $4,143 4.38%
    60-80% 2,347 $612,965,000 $261,170 $4,745 4.58%
    80-100% 5,535 $1,493,995,000 $269,918 $5,048 4.73%
    Over 100% 195 $60,065,000 $308,026 $9,364 4.67%
    Under 20% 13 $1,475,000 $113,462 $2,844 4.27%