Great Western Financial Services Mortgage Rates, Fees & Info

PLANO, TX

LEI: 549300W3T1IBMEUW8789

Tax ID: 75-1794257

3.6 stars - out of 5 stars, based on 45 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Review & Overview

    Great Western Financial Services is a smaller mortgage company specializing in Home Purchase and Refi loans. Great Western Financial 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: Dallas, Houston, Austin, Tampa, and San Antonio among others. We have data for 88 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Great Western Financial 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. Great Western Financial 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 7.04% 12/4/22
    30 Year Conventional Refi 6.87% 12/4/22
    30 Year Cash-out Refi 7.08% 12/4/22
    30 Year FHA Purchase 7.89% 12/4/22
    30 Year FHA Refi 7.57% 12/4/22
    30 Year VA Purchase 6.67% 12/4/22
    30 Year VA Refi 6.38% 12/4/22
    30 Year USDA Purchase 7.02% 12/4/22
    15 Year Conventional Purchase 6.12% 12/4/22
    15 Year Conventional Refi 6.09% 12/4/22
    15 Year Cash-out Refi 6.09% 12/4/22
    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.


    Originations

    1,996

    Origination Dollar Volume (All Markets)

    $545,210,000

    Relative Rate

    Great Western Financial Services's average 30 year fixed mortgage rate was 3.21%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of 0.06%.

    Relative Fees (Closing Costs)

    Great Western Financial Services's average total fees/closing costs for a 30 year fixed rate mortgage were $5,939.

    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
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1,042 $307,020,000 $294,645 $5,895 3.14%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 268 $74,680,000 $278,657 $5,909 3.14%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 85 $28,815,000 $339,000 $5,632 3.04%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 76 $20,200,000 $265,789 $5,763 3.22%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 67 $15,945,000 $237,985 $5,512 3.01%
    Outside of Metro Areas 54 $9,500,000 $175,926 $5,647 3.29%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 33 $9,495,000 $287,727 $6,033 3.17%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 15 $3,845,000 $256,333 $5,596 3.22%
    JACKSONVILLE, FL (FHA|USDA|VA) 14 $3,760,000 $268,571 $4,715 3.38%
    LUBBOCK, TX (FHA|USDA|VA) 16 $3,280,000 $205,000 $4,544 3.18%
    WACO, TX (FHA|USDA|VA) 12 $2,910,000 $242,500 $5,666 2.96%
    KILLEEN-TEMPLE, TX (FHA|USDA|VA) 16 $2,890,000 $180,625 $5,103 3.26%
    SHERMAN-DENISON, TX (FHA|USDA|VA) 13 $2,805,000 $215,769 $5,494 3.15%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 13 $2,785,000 $214,231 $5,791 3.31%
    CORPUS CHRISTI, TX (FHA|USDA|VA) 10 $2,620,000 $262,000 $7,472 3.33%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 8 $2,420,000 $302,500 $5,927 3.11%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 9 $2,345,000 $260,556 $6,430 3.43%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 8 $2,240,000 $280,000 $7,957 2.97%
    Granbury, TX (FHA|USDA|VA) 6 $2,160,000 $360,000 $5,459 2.92%
    Athens, TX (FHA|USDA|VA) 10 $2,050,000 $205,000 $4,720 3.20%
    OKLAHOMA CITY, OK (FHA|USDA|VA) 10 $1,990,000 $199,000 $6,413 3.10%
    EL PASO, TX (FHA|USDA|VA) 10 $1,980,000 $198,000 $4,462 2.99%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 8 $1,930,000 $241,250 $6,169 3.02%
    TYLER, TX (FHA|USDA|VA) 9 $1,785,000 $198,333 $4,847 3.17%
    ODESSA, TX (FHA|USDA|VA) 9 $1,715,000 $190,556 $5,159 3.14%
    AMARILLO, TX (FHA|USDA|VA) 8 $1,650,000 $206,250 $4,795 3.13%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 8 $1,620,000 $202,500 $5,905 3.58%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 5 $1,525,000 $305,000 $5,273 2.98%
    WICHITA FALLS, TX (FHA|USDA|VA) 10 $1,500,000 $150,000 $5,005 3.55%
    MIDLAND, TX (FHA|USDA|VA) 4 $1,420,000 $355,000 $8,567 3.19%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 7 $1,375,000 $196,429 $5,127 2.95%
    BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 10 $1,280,000 $128,000 $5,566 3.50%
    LONGVIEW, TX (FHA|USDA|VA) 6 $1,180,000 $196,667 $6,028 3.23%
    TALLAHASSEE, FL (FHA|USDA|VA) 5 $1,145,000 $229,000 $5,803 2.93%
    OCALA, FL (FHA|USDA|VA) 5 $1,045,000 $209,000 $5,628 3.25%
    PUNTA GORDA, FL (FHA|USDA|VA) 5 $965,000 $193,000 $5,555 3.08%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 3 $865,000 $288,333 $6,914 3.54%
    COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 4 $860,000 $215,000 $3,864 2.88%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 2 $850,000 $425,000 $3,065 2.69%
    Paris, TX (FHA|USDA|VA) 4 $850,000 $212,500 $4,517 3.44%
    TEXARKANA, TX-AR (FHA|USDA|VA) 4 $790,000 $197,500 $5,384 2.78%
    MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 6 $770,000 $128,333 $5,719 3.06%
    Mount Pleasant, TX (FHA|USDA|VA) 4 $740,000 $185,000 $5,204 3.13%
    CLARKSVILLE, TN-KY (FHA|USDA|VA) 4 $730,000 $182,500 $4,565 3.50%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 3 $715,000 $238,333 $6,484 3.21%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 4 $690,000 $172,500 $3,452 2.78%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $650,000 $325,000 $4,723 3.06%
    LAREDO, TX (FHA|USDA|VA) 3 $615,000 $205,000 $5,043 3.17%
    BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 4 $600,000 $150,000 $5,072 3.38%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 2 $590,000 $295,000 $6,968 3.50%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 3 $535,000 $178,333 $7,216 3.25%
    Lake City, FL (FHA|USDA|VA) 3 $455,000 $151,667 $5,110 3.46%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $455,000 $455,000 $2,940 2.25%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 3 $435,000 $145,000 $4,498 3.17%
    SEBRING-AVON PARK, FL (FHA|USDA|VA) 3 $405,000 $135,000 $4,864 2.88%
    Stephenville, TX (FHA|USDA|VA) 2 $400,000 $200,000 $4,076 3.00%
    GAINESVILLE, FL (FHA|USDA|VA) 3 $365,000 $121,667 $4,102 2.79%
    Clearlake, CA (FHA|USDA|VA) 1 $365,000 $365,000 $3,545 2.88%
    Mineral Wells, TX (FHA|USDA|VA) 1 $355,000 $355,000 $4,974 3.00%
    SAN ANGELO, TX (FHA|USDA|VA) 2 $330,000 $165,000 $5,168 3.63%
    Corsicana, TX (FHA|USDA|VA) 2 $320,000 $160,000 $4,233 3.06%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $315,000 $315,000 $2,670 3.38%
    Jacksonville, TX (FHA|USDA|VA) 1 $265,000 $265,000 $9,136 3.00%
    ALBUQUERQUE, NM (FHA|USDA|VA) 1 $265,000 $265,000 $3,646 2.75%
    Steamboat Springs, CO (FHA|USDA|VA) 1 $245,000 $245,000 $3,821 2.75%
    Big Spring, TX (FHA|USDA|VA) 1 $225,000 $225,000 $4,923 3.25%
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 1 $225,000 $225,000 $3,060 3.50%
    Bonham, TX (FHA|USDA|VA) 2 $220,000 $110,000 $5,591 4.06%
    KNOXVILLE, TN (FHA|USDA|VA) 2 $210,000 $105,000 $3,455 2.94%
    JACKSON, TN (FHA|USDA|VA) 1 $205,000 $205,000 $10,865 3.00%
    Palestine, TX (FHA|USDA|VA) 1 $185,000 $185,000 $7,728 2.88%
    Borger, TX (FHA|USDA|VA) 1 $185,000 $185,000 $8,510 3.63%
    ABILENE, TX (FHA|USDA|VA) 1 $175,000 $175,000 $5,755 3.13%
    Sevierville, TN (FHA|USDA|VA) 1 $175,000 $175,000 $6,696 3.75%
    Sulphur Springs, TX (FHA|USDA|VA) 1 $175,000 $175,000 $8,162 3.13%
    El Campo, TX (FHA|USDA|VA) 1 $165,000 $165,000 $5,552 2.63%
    Fredericksburg, TX (FHA|USDA|VA) 1 $165,000 $165,000 $4,253 2.75%
    Pecos, TX (FHA|USDA|VA) 1 $165,000 $165,000 $8,909 3.00%
    CLEVELAND, TN (FHA|USDA|VA) 1 $145,000 $145,000 $3,507 3.50%
    Pampa, TX (FHA|USDA|VA) 1 $125,000 $125,000 $5,782 4.25%
    Ponca City, OK (FHA|USDA|VA) 1 $115,000 $115,000 $4,570 2.88%
    Gainesville, TX (FHA|USDA|VA) 1 $105,000 $105,000 $3,883 4.13%
    Tullahoma-Manchester, TN (FHA|USDA|VA) 1 $105,000 $105,000 $5,111 3.75%
    Snyder, TX (FHA|USDA|VA) 1 $105,000 $105,000 $7,371 3.00%
    VICTORIA, TX (FHA|USDA|VA) 1 $95,000 $95,000 $5,514 4.38%
    Elk City, OK (FHA|USDA|VA) 1 $95,000 $95,000 $5,448 3.75%
    Zapata, TX (FHA|USDA|VA) 1 $75,000 $75,000 $5,779 4.25%
    Dumas, TX (FHA|USDA|VA) 1 $75,000 $75,000 $3,695 3.25%
    Great Western Financial Services's top markets include Dallas, Houston, Austin, Tampa, and San Antonio among others.

    Their top states include:
  • Texas (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Similar Lenders

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

    AMOCO
    Similarity Rank: 405
    United Heritage Credit Union
    Similarity Rank: 636
    Alliance Credit Union
    Similarity Rank: 1044
    First United Bank
    Similarity Rank: 1190
    LAUNCH FEDERAL CREDIT UNION
    Similarity Rank: 1272
    SCHLUMBERGER EMPLOYEES CREDIT UNION
    Similarity Rank: 1320
    U S WIDE FINANCIAL LLC
    Similarity Rank: 1512
    Southwest Bank
    Similarity Rank: 1615
    Citizens First Bank
    Similarity Rank: 1696

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,598 $441,910,000 $276,539 $5,018 3.16%
    FHA 306 $75,430,000 $246,503 $9,162 3.19%
    VA 89 $27,195,000 $305,562 $7,856 2.85%
    USDA 3 $675,000 $225,000 $6,954 2.83%

    For 2021, Great Western Financial Services's most frequently originated type of loan was Conventional, with 1,598 originations. Their 2nd most popular type was FHA, with 306 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,368 $381,190,000 $278,648 $6,374 3.18%
    Refi 406 $109,790,000 $270,419 $4,094 3.00%
    Cash Out Refi 221 $54,055,000 $244,593 $5,229 3.24%
    Home Improvement 1 $175,000 $175,000 $4,341 3.13%

    For 2021, Great Western Financial Services's most frequently cited loan purpose was Home Purchase, with 1,368 originations. The 2nd most popular reason was Refi, with 406 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,795 $497,395,000 $277,100 $5,939 3.21%
    15 Year 169 $40,015,000 $236,775 $4,421 2.59%
    20 Year 17 $4,545,000 $267,353 $4,489 3.08%
    Other 13 $2,865,000 $220,385 $3,846 3.10%
    10 Year 2 $390,000 $195,000 $3,911 2.56%

    For 2021, Great Western Financial Services's most frequently cited loan duration was 30 Year, with 1,795 originations. The 2nd most popular length was 15 Year, with 169 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,461 $398,855,000 $273,001
    $2k-3k 241 $59,515,000 $246,950
    $3k-4k 133 $34,925,000 $262,594
    $5k+ 67 $25,145,000 $375,299
    $4k-5k 50 $16,360,000 $327,200
    $<1k 44 $10,410,000 $236,591

    Great Western Financial Services's average total fees were $5,939, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,461 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 1,070 $288,470,000 $269,598
    2.5-3% 710 $197,880,000 $278,704
    <2.5% 148 $42,130,000 $284,662
    4-5% 66 $16,360,000 $247,879
    5-6% 2 $370,000 $185,000

    During 2021, Great Western Financial Services's average interest rate for loans was 3.21%, while their most frequently originated rate bucket for loans was 3-4%, with 1,070 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,061 $300,535,000 $283,256 $6,111 3.13%
    $100k-200k 585 $91,475,000 $156,368 $4,735 3.19%
    $400k-600k 264 $126,240,000 $478,182 $6,760 3.09%
    $100,000 or less 59 $5,025,000 $85,169 $3,986 3.26%
    $600k-1MM 22 $15,440,000 $701,818 $9,315 3.34%
    $1MM+ 5 $6,495,000 $1,299,000 $12,713 2.88%

    2021 saw Great Western Financial Services place emphasis on $200k-400k loans with 1,061 originations, totaling $300,535,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 507 $148,985,000 $293,856 $5,806 3.12%
    $50k-75k 444 $95,350,000 $214,752 $5,799 3.17%
    $75k-100k 409 $106,485,000 $260,355 $6,004 3.18%
    $150k-250k 312 $110,950,000 $355,609 $5,854 3.14%
    $50k or less 209 $34,505,000 $165,096 $5,096 3.09%
    $250k+ 115 $48,935,000 $425,522 $5,883 3.21%

    Great Western Financial Services lent most frequently to those with incomes in the $100k-150k range, with 507 originations. The second most popular income band? $50k-75k, with 444 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 360 $102,370,000 $284,361 $5,049 3.09%
    30-36% 319 $85,885,000 $269,232 $5,185 3.15%
    50-60% 124 $34,300,000 $276,613 $9,516 3.12%
    44% 100 $27,870,000 $278,700 $6,110 3.13%
    42% 96 $27,400,000 $285,417 $5,744 3.23%
    <20% 95 $23,125,000 $243,421 $4,766 2.98%
    41% 92 $25,140,000 $273,261 $5,617 3.23%
    49% 91 $23,655,000 $259,945 $6,071 3.23%
    36% 81 $21,495,000 $265,370 $5,299 3.16%
    43% 73 $21,255,000 $291,164 $5,653 3.23%
    45% 73 $20,615,000 $282,397 $5,952 3.20%
    46% 72 $19,410,000 $269,583 $6,773 3.30%
    37% 70 $19,380,000 $276,857 $5,799 3.20%
    40% 70 $19,610,000 $280,143 $6,123 3.22%
    39% 66 $18,950,000 $287,121 $5,124 3.15%
    38% 66 $17,970,000 $272,273 $5,629 3.20%
    47% 61 $14,605,000 $239,426 $5,920 3.20%
    48% 57 $14,255,000 $250,088 $6,303 3.07%
    >60% 4 $1,180,000 $295,000 $11,381 2.66%

    Great Western Financial Services lent most frequently to those with DTI ratios of 20-30%, with 360 originations. The next most common DTI ratio? 30-36%, with 319 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,226 $333,380,000 $271,925 $5,777 3.17%
    Not provided 537 $147,665,000 $274,981 $5,467 3.12%
    Black 131 $35,475,000 $270,802 $7,018 3.21%
    Asian 98 $27,880,000 $284,490 $5,864 2.98%
    American Indian 4 $810,000 $202,500 $7,340 2.94%

    Approval Rates

    Total approvals of all applications
    92.23%

    Great Western Financial Services has an average approval rate.

    Pick Rate

    Approvals leading to origination
    58.47%

    Great Western Financial 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 1,996 $545,210,000 $273,151

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,996 $545,210,000 $273,151

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 37 $6,605,000 $178,514 $4,125 2.82%
    40-60% 176 $42,380,000 $240,795 $4,457 2.96%
    60-80% 642 $179,010,000 $278,832 $5,045 3.20%
    80-100% 1,120 $310,320,000 $277,071 $6,324 3.17%
    Over 100% 20 $6,640,000 $332,000 $13,888 2.83%
    Under 20% 1 $255,000 $255,000 $5,783 2.88%