Gmfs Mortgage Rates, Fees & Info
CAMDEN, DELEI: 549300MCPCNPQAOB4032
Tax ID: 72-1441479
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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, Lafayette, Huntsville, and Mobile among others. We have data for 99 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 a low 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.
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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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
5,391Origination Dollar Volume (All Markets)
$1,112,195,000Awards
GMFS - 2018
GMFS is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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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) | 1,919 | $422,325,000 | $220,076 | $3,445 | 4.78% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1,054 | $229,580,000 | $217,818 | $3,574 | 4.77% |
| LAFAYETTE, LA (FHA|USDA|VA) | 294 | $55,790,000 | $189,762 | $2,901 | 4.83% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 162 | $34,680,000 | $214,074 | $3,057 | 4.51% |
| MOBILE, AL (FHA|USDA|VA) | 192 | $33,300,000 | $173,438 | $2,654 | 4.77% |
| HAMMOND, LA (FHA|USDA|VA) | 152 | $28,330,000 | $186,382 | $3,549 | 4.76% |
| LAKE CHARLES, LA (FHA|USDA|VA) | 148 | $27,700,000 | $187,162 | $3,082 | 4.78% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 80 | $20,320,000 | $254,000 | $5,199 | 4.62% |
| HOUMA-THIBODAUX, LA (FHA|USDA|VA) | 99 | $18,005,000 | $181,869 | $3,431 | 4.64% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 90 | $17,710,000 | $196,778 | $2,979 | 4.76% |
| Outside of Metro Areas | 85 | $14,505,000 | $170,647 | $3,026 | 4.67% |
| MACON-BIBB COUNTY, GA (FHA|USDA|VA) | 68 | $13,250,000 | $194,853 | $2,495 | 4.62% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 55 | $12,125,000 | $220,455 | $3,849 | 4.84% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 58 | $11,910,000 | $205,345 | $3,361 | 4.59% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 71 | $11,055,000 | $155,704 | $2,889 | 4.82% |
| MONROE, LA (FHA|USDA|VA) | 68 | $10,760,000 | $158,235 | $4,082 | 4.61% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 41 | $10,755,000 | $262,317 | $1,322 | 4.63% |
| SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) | 53 | $10,305,000 | $194,434 | $4,280 | 4.54% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 40 | $10,090,000 | $252,250 | $1,481 | 4.89% |
| MONTGOMERY, AL (FHA|USDA|VA) | 40 | $7,750,000 | $193,750 | $2,169 | 4.82% |
| Opelousas, LA (FHA|USDA|VA) | 49 | $7,275,000 | $148,469 | $2,684 | 5.13% |
| ALEXANDRIA, LA (FHA|USDA|VA) | 36 | $6,790,000 | $188,611 | $4,378 | 4.55% |
| Minden, LA (FHA|USDA|VA) | 27 | $4,755,000 | $176,111 | $3,985 | 4.56% |
| Picayune, MS (FHA|USDA|VA) | 31 | $4,525,000 | $145,968 | $3,412 | 4.56% |
| FORT SMITH, AR-OK (FHA|USDA|VA) | 33 | $4,495,000 | $136,212 | $3,062 | 4.33% |
| ABILENE, TX (FHA|USDA|VA) | 26 | $4,480,000 | $172,308 | $3,408 | 4.64% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 23 | $4,015,000 | $174,565 | $3,858 | 4.52% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 17 | $3,975,000 | $233,824 | $3,921 | 4.57% |
| Natchez, MS-LA (FHA|USDA|VA) | 20 | $3,870,000 | $193,500 | $3,468 | 4.69% |
| Bogalusa, LA (FHA|USDA|VA) | 23 | $3,715,000 | $161,522 | $2,709 | 4.71% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 4 | $3,610,000 | $902,500 | $8,919 | 4.28% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 18 | $3,460,000 | $192,222 | $4,353 | 4.28% |
| DECATUR, AL (FHA|USDA|VA) | 16 | $3,070,000 | $191,875 | $3,790 | 4.61% |
| JACKSON, MS (FHA|USDA|VA) | 15 | $2,855,000 | $190,333 | $3,406 | 4.43% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 12 | $2,790,000 | $232,500 | $5,170 | 4.63% |
| Morgan City, LA (FHA|USDA|VA) | 18 | $2,760,000 | $153,333 | $3,455 | 4.56% |
| Natchitoches, LA (FHA|USDA|VA) | 14 | $2,660,000 | $190,000 | $3,984 | 4.77% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 13 | $2,585,000 | $198,846 | $5,131 | 4.77% |
| Enterprise, AL (FHA|USDA|VA) | 14 | $2,470,000 | $176,429 | $1,886 | 4.71% |
| Albertville, AL (FHA|USDA|VA) | 16 | $2,470,000 | $154,375 | $2,708 | 4.52% |
| Jennings, LA (FHA|USDA|VA) | 12 | $2,150,000 | $179,167 | $3,905 | 4.60% |
| Russellville, AR (FHA|USDA|VA) | 13 | $2,125,000 | $163,462 | $3,567 | 4.62% |
| Ruston, LA (FHA|USDA|VA) | 10 | $1,910,000 | $191,000 | $4,612 | 4.60% |
| DOTHAN, AL (FHA|USDA|VA) | 8 | $1,730,000 | $216,250 | $4,115 | 4.72% |
| Malvern, AR (FHA|USDA|VA) | 11 | $1,525,000 | $138,636 | $1,678 | 4.75% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 7 | $1,515,000 | $216,429 | $3,021 | 4.63% |
| Columbus, MS (FHA|USDA|VA) | 7 | $1,505,000 | $215,000 | $4,026 | 4.57% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 12 | $1,420,000 | $118,333 | $1,933 | 4.94% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 4 | $1,380,000 | $345,000 | $6,067 | 4.41% |
| DeRidder, LA (FHA|USDA|VA) | 7 | $1,225,000 | $175,000 | $2,835 | 5.04% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 6 | $1,090,000 | $181,667 | $2,110 | 4.52% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 4 | $1,020,000 | $255,000 | $2,470 | 5.16% |
| WARNER ROBINS, GA (FHA|USDA|VA) | 7 | $975,000 | $139,286 | $2,851 | 4.46% |
| Alexander City, AL (FHA|USDA|VA) | 4 | $910,000 | $227,500 | $1,805 | 4.41% |
| Brookhaven, MS (FHA|USDA|VA) | 5 | $895,000 | $179,000 | $4,615 | 4.25% |
| HATTIESBURG, MS (FHA|USDA|VA) | 5 | $865,000 | $173,000 | $5,361 | 4.60% |
| Fort Polk South, LA (FHA|USDA|VA) | 6 | $810,000 | $135,000 | $2,911 | 4.75% |
| GADSDEN, AL (FHA|USDA|VA) | 5 | $755,000 | $151,000 | $3,252 | 4.48% |
| PANAMA CITY, FL (FHA|USDA|VA) | 3 | $655,000 | $218,333 | $2,935 | 4.83% |
| MIDLAND, TX (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $8,957 | 4.88% |
| HOT SPRINGS, AR (FHA|USDA|VA) | 4 | $570,000 | $142,500 | $4,009 | 4.22% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 3 | $555,000 | $185,000 | $3,945 | 5.00% |
| Fort Payne, AL (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $2,495 | 5.00% |
| LaGrange, GA-AL (FHA|USDA|VA) | 4 | $520,000 | $130,000 | $3,273 | 4.56% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $7,022 | 4.56% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $3,983 | 4.56% |
| Athens, TX (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $4,152 | 3.88% |
| WACO, TX (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $5,200 | 4.75% |
| FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $3,284 | 4.63% |
| Jefferson, GA (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $1,142 | 4.25% |
| AUBURN-OPELIKA, AL (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $3,309 | 4.31% |
| LONGVIEW, TX (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $2,705 | 4.75% |
| Sevierville, TN (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $4,283 | 4.31% |
| Shelbyville, TN (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $12,251 | 4.50% |
| TYLER, TX (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $7,072 | 4.63% |
| TULSA, OK (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $5,154 | 5.00% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 3 | $285,000 | $95,000 | $2,114 | 4.67% |
| Oxford, MS (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,394 | 4.25% |
| PROVO-OREM, UT (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $5,468 | 5.38% |
| Bonham, TX (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $2,891 | 4.88% |
| Jasper, AL (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $2,452 | 4.25% |
| Talladega-Sylacauga, AL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $6,342 | 4.88% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $1,739 | 5.00% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $5,777 | 4.50% |
| Gainesville, TX (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,207 | 4.75% |
| Weatherford, OK (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,111 | 4.63% |
| El Dorado, AR (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $7,229 | 5.13% |
| Ozark, AL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,278 | 4.88% |
| Atmore, AL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $1,894 | 5.00% |
| Vicksburg, MS (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,278 | 4.75% |
| Calhoun, GA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $1,842 | 4.50% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,819 | 4.50% |
| SAN ANGELO, TX (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $5,126 | 5.13% |
| Scottsboro, AL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,159 | 5.25% |
| Vidalia, GA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 4.00% |
| McComb, MS (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $1,667 | 3.75% |
| Cedartown, GA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $1,128 | 4.50% |
| Harrison, AR (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,009 | 4.50% |
| TUSCALOOSA, AL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,488 | 5.38% |
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
For 2018, Gmfs's most frequently originated type of loan was Conventional, with 3,005 originations. Their 2nd most popular type was FHA, with 1,323 originations.
Loan Reason
For 2018, Gmfs's most frequently cited loan purpose was Home Purchase, with 4,325 originations. The 2nd most popular reason was Refi, with 535 originations.
Loan Duration/Length
For 2018, Gmfs's most frequently cited loan duration was 30 Year, with 5,089 originations. The 2nd most popular length was 15 Year, with 210 originations.
Origination Fees/Closing Costs
Gmfs's average total fees were $3,360, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 3,874 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 3,856 | $819,320,000 | $212,479 |
| 5-6% | 1,092 | $202,090,000 | $185,064 |
| 3-4% | 399 | $83,185,000 | $208,484 |
| 6-7% | 41 | $6,745,000 | $164,512 |
| 7-8% | 1 | $585,000 | $585,000 |
During 2018, Gmfs's average interest rate for loans was 4.76%, while their most frequently originated rate bucket for loans was 4-5%, with 3,856 originations.
Loan Sizing
2018 saw Gmfs place emphasis on $100k-200k loans with 2,664 originations, totaling $407,570,000 in origination value.
Applicant Income
Gmfs lent most frequently to those with incomes in the $50k-75k range, with 1,547 originations. The second most popular income band? $50k or less, with 1,189 originations.
Applicant Debt to Income Ratio
Gmfs lent most frequently to those with DTI ratios of 30-36%, with 1,041 originations. The next most common DTI ratio? 20-30%, with 971 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.70%
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 origination61.40%
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 | 5,391 | $1,112,195,000 | $206,306 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 5,391 | $1,112,195,000 | $206,306 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| GMFS, LLC | Conventional home mortgage | Trouble during payment process | 7 | 70.0% |
| GMFS, LLC | FHA mortgage | Trouble during payment process | 2 | 20.0% |
| GMFS, LLC | Other type of mortgage | Closing on a mortgage | 1 | 10.0% |