Great Western Financial Services Mortgage Rates, Fees & Info
PLANO, TXLEI: 549300W3T1IBMEUW8789
Tax ID: 75-1794257
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
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 include Dallas, Houston, Austin, Tampa, and San Antonio among others. Great Western Financial Services has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Great Western Financial Services is typically an average fee lendor.Originations
1,996Origination Dollar Volume (All Markets)
$545,210,000Relative Rate
Great Western Financial Services 's average 30 year fixed rate mortgage of loans were
3.21%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of 0.06%.
Relative Fees
Great Western Financial Services 's average total fees for a 30 year fixed rate
mortgage are $5,939.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| 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.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average 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 the 2021 period, Great Western Financial Services 's most frequently originated loan type of loans were Conventional, with 1,598 originations. Their 2nd most popular type is FHA, with 306 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average 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 the 2021, Great Western Financial Services 's most frequently cited loan purpose of loans were Home Purchase, with 1,368 originations. The 2nd most popular reason of loans were 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 the 2021, Great Western Financial Services 's most frequently cited loan length of loans were 30 Year, with 1,795 originations. The 2nd most popular length of loans were 15 Year, with 169 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 1,461 | $398,855,000 | $273,001 |
| $2k-3k | 241 | $59,515,000 | $246,950 |
| $3k-4k | 183 | $51,285,000 | $280,246 |
| $5k+ | 67 | $25,145,000 | $375,299 |
| $<1k | 44 | $10,410,000 | $236,591 |
$5,939 of loans were Great Western Financial Services 's average total fees, while their most frequently occuring range of origination fees 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 of loans were 3.21%, while their most frequently originated rate bucket of loans were 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 applications92.44%
Great Western Financial Services has an average approval rate.
Pick Rate
Approvals leading to origination61.38%
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% |
