Gmfs Mortgage Rates, Fees & Info

CAMDEN, DE

LEI: 549300MCPCNPQAOB4032

Tax ID: 72-1441479

5 stars - Updated: 12/16/24 - out of 5 stars, based on 72 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • 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. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Baton Rouge, New Orleans, Huntsville, Lafayette, and Birmingham among others. We have data for 160 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 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.

    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% 12/16/24
    30 Year Conventional Refi 6.54% 12/16/24
    30 Year Cash-out Refi 6.75% 12/16/24
    30 Year FHA Purchase 7.22% 12/16/24
    30 Year FHA Refi 7.03% 12/16/24
    30 Year VA Purchase 6.19% 12/16/24
    30 Year VA Refi 5.93% 12/16/24
    30 Year USDA Purchase 6.67% 12/16/24
    30 Year USDA Refi 6.63% 12/16/24
    15 Year Conventional Purchase 5.93% 12/16/24
    15 Year Conventional Refi 5.97% 12/16/24
    15 Year Cash-out Refi 5.97% 12/16/24
    15 Year FHA Purchase 7.17% 12/16/24
    15 Year FHA Refi 5.68% 12/16/24
    15 Year VA Purchase 5.42% 12/16/24
    15 Year VA Refi 6.11% 12/16/24
    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

    5,245

    Origination Dollar Volume (All Markets)

    $1,420,285,000
    Show all (44) awards

    Relative Rate

    Gmfs's average 30 year fixed mortgage rate was 6.69%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of 0.21%.

    Relative Fees (Closing Costs)

    Gmfs's average total fees/closing costs for a 30 year fixed rate mortgage were $5,695.

    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 $9,089.

    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) 1,541 $414,575,000 $269,030 $5,654 6.71%
    NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 777 $210,355,000 $270,727 $5,833 6.62%
    HUNTSVILLE, AL (FHA|USDA|VA) 246 $90,690,000 $368,659 $5,875 6.50%
    LAFAYETTE, LA (FHA|USDA|VA) 255 $60,955,000 $239,039 $5,345 6.79%
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 149 $50,815,000 $341,040 $6,320 6.45%
    TALLAHASSEE, FL (FHA|USDA|VA) 146 $47,880,000 $327,945 $5,593 6.54%
    Outside of Metro Areas 173 $37,205,000 $215,058 $5,254 6.86%
    LAKE CHARLES, LA (FHA|USDA|VA) 128 $30,490,000 $238,203 $5,513 6.73%
    HAMMOND, LA (FHA|USDA|VA) 116 $29,790,000 $256,810 $6,523 6.52%
    MOBILE, AL (FHA|USDA|VA) 113 $29,495,000 $261,018 $5,159 6.56%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 87 $24,255,000 $278,793 $6,365 7.28%
    GULFPORT-BILOXI, MS (FHA|USDA|VA) 97 $24,215,000 $249,639 $5,158 7.02%
    HOUMA-THIBODAUX, LA (FHA|USDA|VA) 89 $20,495,000 $230,281 $5,300 6.51%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 58 $19,430,000 $335,000 $5,244 6.60%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 46 $18,760,000 $407,826 $9,229 6.87%
    MONTGOMERY, AL (FHA|USDA|VA) 68 $15,570,000 $228,971 $4,270 6.80%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 49 $14,395,000 $293,776 $6,323 6.77%
    ALEXANDRIA, LA (FHA|USDA|VA) 67 $14,375,000 $214,552 $4,987 6.57%
    MONROE, LA (FHA|USDA|VA) 57 $14,205,000 $249,211 $4,779 6.76%
    Opelousas, LA (FHA|USDA|VA) 54 $11,630,000 $215,370 $5,092 6.72%
    MACON-BIBB COUNTY, GA (FHA|USDA|VA) 40 $11,330,000 $283,250 $5,664 6.74%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 27 $11,285,000 $417,963 $5,175 6.80%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 31 $11,275,000 $363,710 $6,889 6.56%
    Picayune, MS (FHA|USDA|VA) 48 $10,310,000 $214,792 $5,408 6.64%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 31 $9,015,000 $290,806 $9,509 6.61%
    Russellville, AR (FHA|USDA|VA) 40 $8,210,000 $205,250 $4,449 6.48%
    Albertville, AL (FHA|USDA|VA) 27 $7,795,000 $288,704 $6,577 6.55%
    SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 30 $7,380,000 $246,000 $6,180 6.57%
    HATTIESBURG, MS (FHA|USDA|VA) 31 $6,895,000 $222,419 $4,867 6.47%
    DECATUR, AL (FHA|USDA|VA) 24 $6,350,000 $264,583 $5,689 7.09%
    Natchitoches, LA (FHA|USDA|VA) 25 $6,295,000 $251,800 $4,874 6.84%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 13 $6,165,000 $474,231 $8,103 6.14%
    Bogalusa, LA (FHA|USDA|VA) 27 $6,105,000 $226,111 $5,616 6.87%
    Tupelo, MS (FHA|USDA|VA) 33 $5,625,000 $170,455 $4,690 6.64%
    GADSDEN, AL (FHA|USDA|VA) 22 $5,410,000 $245,909 $4,536 6.54%
    LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 16 $4,770,000 $298,125 $6,104 6.43%
    Malvern, AR (FHA|USDA|VA) 24 $4,500,000 $187,500 $5,097 6.24%
    DeRidder, LA (FHA|USDA|VA) 14 $3,710,000 $265,000 $5,469 6.76%
    Thomasville, GA (FHA|USDA|VA) 13 $3,425,000 $263,462 $4,234 6.32%
    Ruston, LA (FHA|USDA|VA) 15 $3,375,000 $225,000 $5,787 6.96%
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 9 $3,045,000 $338,333 $7,610 6.42%
    Jennings, LA (FHA|USDA|VA) 12 $2,980,000 $248,333 $5,071 6.88%
    Morgan City, LA (FHA|USDA|VA) 22 $2,930,000 $133,182 $4,200 6.96%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 7 $2,825,000 $403,571 $7,514 6.39%
    PROVO-OREM, UT (FHA|USDA|VA) 2 $2,740,000 $1,370,000 $4,712 10.20%
    GAINESVILLE, GA (FHA|USDA|VA) 8 $2,630,000 $328,750 $7,044 6.62%
    Alexander City, AL (FHA|USDA|VA) 10 $2,610,000 $261,000 $4,576 6.62%
    Corinth, MS (FHA|USDA|VA) 13 $2,575,000 $198,077 $4,557 6.87%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 7 $2,485,000 $355,000 $7,668 6.97%
    Scottsboro, AL (FHA|USDA|VA) 8 $2,430,000 $303,750 $7,344 6.87%
    HOT SPRINGS, AR (FHA|USDA|VA) 10 $2,250,000 $225,000 $3,442 7.23%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 6 $2,100,000 $350,000 $9,568 7.34%
    Minden, LA (FHA|USDA|VA) 13 $2,095,000 $161,154 $4,678 7.17%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 5 $1,965,000 $393,000 $9,571 6.58%
    WARNER ROBINS, GA (FHA|USDA|VA) 10 $1,930,000 $193,000 $4,676 7.20%
    FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 8 $1,880,000 $235,000 $6,100 6.97%
    JACKSON, MS (FHA|USDA|VA) 9 $1,835,000 $203,889 $7,688 6.65%
    TUSCALOOSA, AL (FHA|USDA|VA) 8 $1,800,000 $225,000 $7,225 6.36%
    AUBURN-OPELIKA, AL (FHA|USDA|VA) 7 $1,735,000 $247,857 $4,531 6.52%
    Natchez, MS-LA (FHA|USDA|VA) 8 $1,710,000 $213,750 $4,090 6.55%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 3 $1,695,000 $565,000 $5,705 6.66%
    Vicksburg, MS (FHA|USDA|VA) 7 $1,675,000 $239,286 $4,434 6.66%
    McComb, MS (FHA|USDA|VA) 9 $1,675,000 $186,111 $5,425 6.16%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 4 $1,660,000 $415,000 $9,535 6.69%
    Fort Payne, AL (FHA|USDA|VA) 7 $1,575,000 $225,000 $5,724 6.55%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 6 $1,430,000 $238,333 $0 7.52%
    ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 4 $1,400,000 $350,000 $4,750 6.41%
    SPARTANBURG, SC (FHA|USDA|VA) 4 $1,370,000 $342,500 $8,337 6.34%
    Fort Polk South, LA (FHA|USDA|VA) 6 $1,350,000 $225,000 $7,053 6.69%
    Troy, AL (FHA|USDA|VA) 5 $1,325,000 $265,000 $3,355 6.70%
    GREELEY, CO (FHA|USDA|VA) 3 $1,205,000 $401,667 $6,481 7.27%
    Starkville, MS (FHA|USDA|VA) 4 $1,200,000 $300,000 $5,362 6.44%
    JACKSONVILLE, FL (FHA|USDA|VA) 3 $1,165,000 $388,333 $5,116 7.08%
    Brookhaven, MS (FHA|USDA|VA) 4 $1,120,000 $280,000 $6,327 7.19%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 4 $1,030,000 $257,500 $4,126 7.25%
    SHERMAN-DENISON, TX (FHA|USDA|VA) 2 $960,000 $480,000 $16,380 6.50%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 3 $935,000 $311,667 $4,608 6.46%
    Jefferson, GA (FHA|USDA|VA) 2 $920,000 $460,000 $7,347 7.38%
    ST. GEORGE, UT (FHA|USDA|VA) 4 $920,000 $230,000 $0 7.34%
    Cornelia, GA (FHA|USDA|VA) 3 $915,000 $305,000 $15,838 6.67%
    Jasper, AL (FHA|USDA|VA) 2 $890,000 $445,000 $6,128 6.44%
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 3 $865,000 $288,333 $4,351 6.46%
    Cullman, AL (FHA|USDA|VA) 2 $830,000 $415,000 $917 6.06%
    JONESBORO, AR (FHA|USDA|VA) 3 $805,000 $268,333 $3,683 7.38%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 6 $750,000 $125,000 $3,384 7.17%
    Laurel, MS (FHA|USDA|VA) 4 $730,000 $182,500 $6,103 7.34%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 3 $725,000 $241,667 $3,763 7.42%
    Greenwood, MS (FHA|USDA|VA) 5 $705,000 $141,000 $3,361 6.42%
    KNOXVILLE, TN (FHA|USDA|VA) 3 $705,000 $235,000 $10,101 6.17%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 4 $700,000 $175,000 $8,226 6.96%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 3 $655,000 $218,333 $5,239 6.67%
    ABILENE, TX (FHA|USDA|VA) 2 $630,000 $315,000 $1,460 7.94%
    Selma, AL (FHA|USDA|VA) 3 $615,000 $205,000 $4,692 6.08%
    DOTHAN, AL (FHA|USDA|VA) 2 $610,000 $305,000 $4,126 6.38%
    Tullahoma-Manchester, TN (FHA|USDA|VA) 1 $585,000 $585,000 $6,834 7.13%
    Columbus, MS (FHA|USDA|VA) 2 $570,000 $285,000 $7,204 7.69%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $540,000 $270,000 $12,993 6.44%
    LONGVIEW, TX (FHA|USDA|VA) 2 $530,000 $265,000 $3,468 7.13%
    LaGrange, GA-AL (FHA|USDA|VA) 2 $520,000 $260,000 $6,710 5.94%
    BRUNSWICK, GA (FHA|USDA|VA) 2 $510,000 $255,000 $8,590 6.69%
    Oxford, MS (FHA|USDA|VA) 2 $500,000 $250,000 $3,560 6.69%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 2 $490,000 $245,000 $6,365 7.04%
    Dyersburg, TN (FHA|USDA|VA) 2 $480,000 $240,000 $5,362 6.56%
    ASHEVILLE, NC (FHA|USDA|VA) 1 $455,000 $455,000 $0 7.08%
    OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 2 $450,000 $225,000 $0 7.65%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $435,000 $435,000 $3,898 5.63%
    Statesboro, GA (FHA|USDA|VA) 1 $425,000 $425,000 $6,233 5.99%
    BOULDER, CO (FHA|USDA|VA) 1 $415,000 $415,000 $0 7.52%
    Pinehurst-Southern Pines, NC (FHA|USDA|VA) 1 $395,000 $395,000 $2,952 6.88%
    North Wilkesboro, NC (FHA|USDA|VA) 1 $385,000 $385,000 $13,988 8.13%
    Moultrie, GA (FHA|USDA|VA) 2 $380,000 $190,000 $1,840 6.81%
    WACO, TX (FHA|USDA|VA) 1 $375,000 $375,000 $0 8.00%
    SAVANNAH, GA (FHA|USDA|VA) 3 $375,000 $125,000 $5,321 6.83%
    LUBBOCK, TX (FHA|USDA|VA) 1 $355,000 $355,000 $12,926 6.75%
    Talladega-Sylacauga, AL (FHA|USDA|VA) 1 $355,000 $355,000 $0 6.38%
    Atmore, AL (FHA|USDA|VA) 2 $350,000 $175,000 $1,764 6.81%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $345,000 $345,000 $3,935 6.88%
    West Point, MS (FHA|USDA|VA) 2 $330,000 $165,000 $9,062 7.25%
    HINESVILLE, GA (FHA|USDA|VA) 1 $315,000 $315,000 $650 6.13%
    Paragould, AR (FHA|USDA|VA) 1 $305,000 $305,000 $9,686 7.25%
    BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 1 $305,000 $305,000 $7,290 5.63%
    JOHNSON CITY, TN (FHA|USDA|VA) 2 $300,000 $150,000 $4,159 6.75%
    SPRINGFIELD, MO (FHA|USDA|VA) 1 $295,000 $295,000 $0 7.51%
    RALEIGH-CARY, NC (FHA|USDA|VA) 1 $295,000 $295,000 $3,846 7.00%
    Ozark, AL (FHA|USDA|VA) 2 $280,000 $140,000 $3,426 5.94%
    Crossville, TN (FHA|USDA|VA) 1 $265,000 $265,000 $5,286 6.25%
    TULSA, OK (FHA|USDA|VA) 1 $265,000 $265,000 $4,277 7.25%
    Dublin, GA (FHA|USDA|VA) 1 $255,000 $255,000 $541 3.13%
    Athens, TN (FHA|USDA|VA) 1 $245,000 $245,000 $4,921 7.75%
    Brevard, NC (FHA|USDA|VA) 1 $245,000 $245,000 $8,101 7.00%
    FORT SMITH, AR-OK (FHA|USDA|VA) 2 $240,000 $120,000 $4,635 6.48%
    Seneca, SC (FHA|USDA|VA) 1 $235,000 $235,000 $6,987 6.25%
    COLUMBUS, GA-AL (FHA|USDA|VA) 1 $225,000 $225,000 $6,448 6.50%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $225,000 $225,000 $0 7.71%
    JACKSON, TN (FHA|USDA|VA) 1 $225,000 $225,000 $5,064 6.38%
    Milledgeville, GA (FHA|USDA|VA) 1 $215,000 $215,000 $5,168 7.63%
    EL PASO, TX (FHA|USDA|VA) 1 $215,000 $215,000 $6,061 6.75%
    OCALA, FL (FHA|USDA|VA) 1 $215,000 $215,000 $3,610 7.38%
    VALDOSTA, GA (FHA|USDA|VA) 1 $215,000 $215,000 $3,700 5.63%
    Truckee-Grass Valley, CA (FHA|USDA|VA) 1 $205,000 $205,000 $0 7.41%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $205,000 $205,000 $0 7.63%
    FORT COLLINS, CO (FHA|USDA|VA) 1 $205,000 $205,000 $0 7.41%
    HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $195,000 $195,000 $2,711 7.25%
    Cedar City, UT (FHA|USDA|VA) 1 $185,000 $185,000 $0 6.76%
    THE VILLAGES, FL (FHA|USDA|VA) 1 $185,000 $185,000 $0 7.38%
    Toccoa, GA (FHA|USDA|VA) 2 $180,000 $90,000 $5,397 6.75%
    Camden, AR (FHA|USDA|VA) 1 $175,000 $175,000 $6,735 6.50%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $175,000 $175,000 $0 6.99%
    Lufkin, TX (FHA|USDA|VA) 1 $165,000 $165,000 $5,410 5.99%
    LYNCHBURG, VA (FHA|USDA|VA) 1 $165,000 $165,000 $0 7.60%
    COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $155,000 $155,000 $5,781 7.50%
    ROME, GA (FHA|USDA|VA) 1 $155,000 $155,000 $4,060 6.25%
    Cleveland, MS (FHA|USDA|VA) 1 $145,000 $145,000 $5,006 6.25%
    Newport, TN (FHA|USDA|VA) 1 $145,000 $145,000 $0 7.63%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $135,000 $135,000 $0 7.40%
    BLOOMINGTON, IL (FHA|USDA|VA) 1 $115,000 $115,000 $0 7.13%
    SALT LAKE CITY, UT (FHA|USDA|VA) 1 $105,000 $105,000 $4,208 6.63%
    Searcy, AR (FHA|USDA|VA) 1 $105,000 $105,000 $3,224 8.63%
    KANKAKEE, IL (FHA|USDA|VA) 1 $85,000 $85,000 $0 7.00%
    Wilson, NC (FHA|USDA|VA) 1 $75,000 $75,000 $0 7.60%
    Gmfs's top markets include Baton Rouge, New Orleans, Huntsville, Lafayette, and Birmingham among others.

    Their top states include:
  • Louisiana (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Georgia (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 3,163 $907,215,000 $286,821 $4,993 6.79%
    FHA 1,176 $285,230,000 $242,543 $7,420 6.59%
    USDA 472 $89,660,000 $189,958 $4,533 6.46%
    VA 389 $127,825,000 $328,599 $6,889 6.33%
    FHA 44 $8,590,000 $195,227 $0 7.49%
    HELOC 1 $1,765,000 $1,765,000 n/a 12.15%

    For 2023, Gmfs's most frequently originated type of loan was Conventional, with 3,163 originations. Their 2nd most popular type was FHA, with 1,176 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 4,275 $1,139,515,000 $266,553 $5,478 6.65%
    Refi 669 $215,055,000 $321,457 $6,463 6.81%
    Cash Out Refi 293 $63,375,000 $216,297 $6,859 6.98%
    Other 5 $945,000 $189,000 $0 7.57%
    Home Improvement 3 $1,395,000 $465,000 $1,290 7.54%

    For 2023, Gmfs's most frequently cited loan purpose was Home Purchase, with 4,275 originations. The 2nd most popular reason was Refi, with 669 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 5,030 $1,373,880,000 $273,137 $5,695 6.69%
    15 Year 129 $31,315,000 $242,752 $5,010 5.98%
    Other 50 $11,060,000 $221,200 $3,854 7.49%
    10 Year 27 $1,105,000 $40,926 $4,107 8.79%
    20 Year 6 $1,530,000 $255,000 $5,560 6.65%
    30+ year 3 $1,395,000 $465,000 $1,290 7.54%

    For 2023, Gmfs's most frequently cited loan duration was 30 Year, with 5,030 originations. The 2nd most popular length was 15 Year, with 129 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 2,143 $561,535,000 $262,032
    $1k-2k 938 $236,660,000 $252,303
    $2k-3k 610 $149,410,000 $244,934
    $5k+ 520 $208,700,000 $401,346
    $3k-4k 458 $118,310,000 $258,319
    $4k-5k 288 $87,060,000 $302,292

    Gmfs's average total fees were $5,695, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2,143 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 2,712 $737,200,000 $271,829
    7-8% 1,400 $365,160,000 $260,829
    5-6% 923 $266,255,000 $288,467
    Over 8% 166 $39,490,000 $237,892
    4-5% 39 $11,895,000 $305,000
    <2.5% 4 $30,000 $7,500
    3-4% 1 $255,000 $255,000

    During 2023, Gmfs's average interest rate for loans was 6.69%, while their most frequently originated rate bucket for loans was 6-7%, with 2,712 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 2,776 $773,430,000 $278,613 $5,869 6.65%
    $100k-200k 1,462 $230,200,000 $157,456 $4,287 6.74%
    $400k-600k 618 $291,700,000 $472,006 $7,575 6.60%
    $100,000 or less 233 $17,645,000 $75,730 $3,615 7.05%
    $600k-1MM 154 $104,520,000 $678,701 $8,971 6.72%
    $1MM+ 2 $2,790,000 $1,395,000 $9,041 9.51%

    2023 saw Gmfs place emphasis on $200k-400k loans with 2,776 originations, totaling $773,430,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,353 $402,355,000 $297,380 $6,280 6.69%
    $50k-75k 1,170 $227,020,000 $194,034 $4,838 6.59%
    $75k-100k 1,058 $254,220,000 $240,284 $5,341 6.67%
    $150k-250k 890 $333,030,000 $374,191 $6,669 6.74%
    $50k or less 467 $71,175,000 $152,409 $4,118 6.71%
    $250k+ 306 $132,240,000 $432,157 $6,917 6.96%

    Gmfs lent most frequently to those with incomes in the $100k-150k range, with 1,353 originations. The second most popular income band? $50k-75k, with 1,170 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 883 $228,315,000 $258,567 $5,289 6.65%
    20-30% 829 $217,295,000 $262,117 $5,100 6.66%
    50-60% 447 $120,785,000 $270,213 $7,319 6.55%
    40% 239 $69,065,000 $288,975 $5,559 6.71%
    49% 236 $69,300,000 $293,644 $6,026 6.69%
    39% 236 $63,930,000 $270,890 $5,608 6.64%
    38% 227 $64,435,000 $283,855 $5,528 6.68%
    42% 217 $60,905,000 $280,668 $5,670 6.76%
    44% 212 $59,210,000 $279,292 $6,192 6.77%
    <20% 203 $52,015,000 $256,232 $5,246 6.78%
    41% 199 $58,735,000 $295,151 $5,776 6.77%
    46% 190 $54,320,000 $285,895 $5,734 6.78%
    47% 188 $52,330,000 $278,351 $6,062 6.64%
    37% 183 $48,335,000 $264,126 $5,074 6.68%
    45% 183 $48,965,000 $267,568 $5,206 6.72%
    43% 181 $49,965,000 $276,050 $5,797 6.73%
    48% 179 $49,225,000 $275,000 $6,158 6.69%
    36% 156 $40,370,000 $258,782 $5,705 6.70%
    >60% 3 $625,000 $208,333 $5,713 3.83%

    Gmfs lent most frequently to those with DTI ratios of 30-36%, with 883 originations. The next most common DTI ratio? 20-30%, with 829 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 4,020 $1,095,040,000 $272,398 $5,624 6.69%
    Black 567 $141,315,000 $249,233 $6,013 6.70%
    Not provided 425 $115,675,000 $272,176 $5,909 6.75%
    Asian 199 $59,815,000 $300,578 $5,351 6.62%
    American Indian 32 $7,790,000 $243,438 $4,628 6.57%
    Chinese 1 $355,000 $355,000 $10,919 4.25%
    Native Hawaiian or Islander 1 $295,000 $295,000 $0 7.51%

    Approval Rates

    Total approvals of all applications
    95.49%

    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
    68.16%

    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 5,245 $1,420,285,000 $270,788

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    5,245 $1,420,285,000 $270,788

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 154 $27,310,000 $177,338 $4,068 6.71%
    40-60% 406 $95,750,000 $235,837 $5,133 6.67%
    60-80% 1,109 $313,345,000 $282,547 $5,713 6.83%
    80-100% 3,404 $939,660,000 $276,046 $5,610 6.64%
    Over 100% 139 $43,265,000 $311,259 $9,800 6.50%
    Under 20% 33 $955,000 $28,939 $4,097 7.56%