Great Western Financial Services Mortgage Rates, Fees & Info

PLANO, TX

LEI: 549300W3T1IBMEUW8789

Tax ID: 75-1794257

2.1 stars - Updated: 3/24/24 - out of 5 stars, based on 31 reviews

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

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Mortgage Data

Review & Overview

Great Western Financial Services is a smaller mortgage company specializing in Home Purchase 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, Tampa, Austin, and San Antonio among others. We have data for 74 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 a high 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 6.94% 3/24/24
30 Year Conventional Refi 6.70% 3/24/24
30 Year Cash-out Refi 6.95% 3/24/24
30 Year FHA Purchase 7.47% 3/24/24
30 Year FHA Refi 6.27% 3/24/24
30 Year VA Purchase 6.28% 3/24/24
30 Year VA Refi 6.32% 3/24/24
30 Year USDA Purchase 6.70% 3/24/24
15 Year Conventional Purchase 6.16% 3/24/24
15 Year Conventional Refi 6.32% 3/24/24
15 Year Cash-out Refi 6.32% 3/24/24
15 Year FHA Purchase 7.45% 3/24/24
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.

Great Western Financial Services Mortgage Calculator






Your Estimates

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

This is not an official calculator from Great Western Financial Services. 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

973

Origination Dollar Volume (All Markets)

$307,225,000

Relative Rate

Great Western Financial Services's average 30 year fixed mortgage rate was 4.94%.

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

This yields a difference of 0.18%.

Relative Fees (Closing Costs)

Great Western Financial Services's average total fees/closing costs for a 30 year fixed rate mortgage were $8,857.

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) 454 $165,850,000 $365,308 $9,173 4.82%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 153 $44,385,000 $290,098 $8,062 4.86%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 60 $20,930,000 $348,833 $9,644 5.14%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 38 $15,390,000 $405,000 $8,227 4.58%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 30 $8,310,000 $277,000 $9,131 4.94%
Outside of Metro Areas 22 $5,130,000 $233,182 $10,031 5.32%
JACKSONVILLE, FL (FHA|USDA|VA) 10 $2,750,000 $275,000 $9,607 5.11%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 8 $2,510,000 $313,750 $8,653 4.77%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 11 $2,395,000 $217,727 $7,209 4.57%
LONGVIEW, TX (FHA|USDA|VA) 12 $2,280,000 $190,000 $6,323 4.45%
SHERMAN-DENISON, TX (FHA|USDA|VA) 9 $2,245,000 $249,444 $8,047 5.40%
CORPUS CHRISTI, TX (FHA|USDA|VA) 8 $1,910,000 $238,750 $9,345 4.92%
BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 7 $1,795,000 $256,429 $7,033 4.23%
PORT ST. LUCIE, FL (FHA|USDA|VA) 5 $1,605,000 $321,000 $8,853 4.68%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 6 $1,510,000 $251,667 $8,933 4.58%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 5 $1,275,000 $255,000 $7,202 5.08%
OKLAHOMA CITY, OK (FHA|USDA|VA) 7 $1,255,000 $179,286 $6,189 4.30%
PUNTA GORDA, FL (FHA|USDA|VA) 5 $1,165,000 $233,000 $6,282 4.83%
OCALA, FL (FHA|USDA|VA) 5 $1,105,000 $221,000 $9,274 6.20%
MIDLAND, TX (FHA|USDA|VA) 5 $1,085,000 $217,000 $9,859 5.75%
LUBBOCK, TX (FHA|USDA|VA) 7 $995,000 $142,143 $6,414 4.75%
WACO, TX (FHA|USDA|VA) 5 $965,000 $193,000 $7,288 4.63%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 6 $960,000 $160,000 $7,163 4.98%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 3 $905,000 $301,667 $9,596 4.25%
Granbury, TX (FHA|USDA|VA) 3 $855,000 $285,000 $14,252 4.67%
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 3 $805,000 $268,333 $7,491 4.58%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 3 $785,000 $261,667 $10,773 5.42%
TYLER, TX (FHA|USDA|VA) 2 $740,000 $370,000 $9,775 4.88%
ODESSA, TX (FHA|USDA|VA) 3 $715,000 $238,333 $10,773 4.46%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 4 $690,000 $172,500 $5,741 5.03%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $670,000 $335,000 $9,153 5.44%
SAN ANGELO, TX (FHA|USDA|VA) 3 $665,000 $221,667 $10,458 5.13%
BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 1 $645,000 $645,000 $7,821 5.50%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 3 $635,000 $211,667 $9,712 5.46%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 2 $630,000 $315,000 $9,344 5.94%
AMARILLO, TX (FHA|USDA|VA) 5 $585,000 $117,000 $5,643 5.30%
EL PASO, TX (FHA|USDA|VA) 4 $580,000 $145,000 $4,555 4.44%
WICHITA FALLS, TX (FHA|USDA|VA) 4 $570,000 $142,500 $5,910 5.41%
Sulphur Springs, TX (FHA|USDA|VA) 2 $550,000 $275,000 $7,415 3.56%
Andrews, TX (FHA|USDA|VA) 2 $540,000 $270,000 $9,705 5.56%
KNOXVILLE, TN (FHA|USDA|VA) 3 $445,000 $148,333 $4,268 5.38%
ABILENE, TX (FHA|USDA|VA) 3 $445,000 $148,333 $5,826 5.08%
Big Spring, TX (FHA|USDA|VA) 3 $405,000 $135,000 $5,003 5.04%
Ruidoso, NM (FHA|USDA|VA) 1 $385,000 $385,000 $5,902 3.63%
Bonham, TX (FHA|USDA|VA) 1 $365,000 $365,000 $4,750 5.25%
Cookeville, TN (FHA|USDA|VA) 1 $335,000 $335,000 $9,628 6.00%
JACKSON, TN (FHA|USDA|VA) 3 $335,000 $111,667 $5,100 5.88%
Corsicana, TX (FHA|USDA|VA) 2 $320,000 $160,000 $8,426 5.88%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $305,000 $305,000 $11,352 4.88%
Dumas, TX (FHA|USDA|VA) 1 $295,000 $295,000 $15,116 4.75%
TULSA, OK (FHA|USDA|VA) 1 $295,000 $295,000 $6,596 4.50%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $275,000 $275,000 $11,556 5.25%
Stephenville, TX (FHA|USDA|VA) 1 $265,000 $265,000 $12,724 5.38%
Jasper, IN (FHA|USDA|VA) 1 $255,000 $255,000 $5,613 3.88%
Lamesa, TX (FHA|USDA|VA) 2 $250,000 $125,000 $8,443 5.25%
LAREDO, TX (FHA|USDA|VA) 2 $240,000 $120,000 $6,771 6.50%
Palestine, TX (FHA|USDA|VA) 1 $235,000 $235,000 $4,661 5.13%
TALLAHASSEE, FL (FHA|USDA|VA) 2 $230,000 $115,000 $5,124 5.50%
Bay City, TX (FHA|USDA|VA) 1 $215,000 $215,000 $6,182 3.63%
ALBUQUERQUE, NM (FHA|USDA|VA) 1 $215,000 $215,000 $5,350 4.50%
CLEVELAND, TN (FHA|USDA|VA) 1 $185,000 $185,000 $3,777 4.88%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $165,000 $165,000 $7,296 4.13%
GAINESVILLE, FL (FHA|USDA|VA) 1 $155,000 $155,000 $10,234 5.50%
Kingsville, TX (FHA|USDA|VA) 1 $145,000 $145,000 $9,877 5.25%
Plainview, TX (FHA|USDA|VA) 1 $145,000 $145,000 $4,999 3.75%
Athens, TX (FHA|USDA|VA) 1 $135,000 $135,000 $8,001 4.13%
Alice, TX (FHA|USDA|VA) 1 $125,000 $125,000 $7,242 5.63%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $125,000 $125,000 $7,357 6.00%
Brenham, TX (FHA|USDA|VA) 1 $115,000 $115,000 $5,735 4.88%
McAlester, OK (FHA|USDA|VA) 1 $115,000 $115,000 $7,618 4.75%
Paris, TX (FHA|USDA|VA) 1 $95,000 $95,000 $7,013 5.63%
Athens, TN (FHA|USDA|VA) 1 $85,000 $85,000 $3,495 4.00%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $85,000 $85,000 $6,466 4.25%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 1 $75,000 $75,000 $3,596 3.63%
Great Western Financial Services's top markets include Dallas, Houston, Tampa, Austin, and San Antonio among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)
  • New Mexico (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
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    LAUNCH FEDERAL CREDIT UNION
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    SAN ANTONIO CITIZENS
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 692 $216,410,000 $312,731 $7,398 4.85%
    FHA 206 $57,590,000 $279,563 $12,014 5.01%
    VA 74 $33,090,000 $447,162 $11,481 4.72%
    USDA 1 $135,000 $135,000 $6,735 6.63%

    For 2022, Great Western Financial Services's most frequently originated type of loan was Conventional, with 692 originations. Their 2nd most popular type was FHA, with 206 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 789 $251,565,000 $318,840 $9,152 5.00%
    Cash Out Refi 133 $40,375,000 $303,571 $7,031 4.59%
    Refi 50 $15,090,000 $301,800 $5,635 3.71%
    Home Improvement 1 $195,000 $195,000 $12,236 7.50%

    For 2022, Great Western Financial Services's most frequently cited loan purpose was Home Purchase, with 789 originations. The 2nd most popular reason was Cash Out Refi, with 133 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 915 $294,085,000 $321,404 $8,857 4.94%
    15 Year 51 $11,655,000 $228,529 $6,101 3.91%
    20 Year 5 $1,015,000 $203,000 $5,674 4.75%
    Other 2 $470,000 $235,000 $3,402 3.06%

    For 2022, Great Western Financial Services's most frequently cited loan duration was 30 Year, with 915 originations. The 2nd most popular length was 15 Year, with 51 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 336 $109,140,000 $324,821
    $5k+ 243 $91,795,000 $377,757
    $3k-4k 131 $31,345,000 $239,275
    $4k-5k 122 $37,110,000 $304,180
    $2k-3k 116 $28,390,000 $244,741
    $<1k 25 $9,445,000 $377,800

    Great Western Financial Services's average total fees were $8,857, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 336 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 299 $90,945,000 $304,164
    4-5% 256 $80,980,000 $316,328
    3-4% 247 $81,065,000 $328,198
    6-7% 118 $35,740,000 $302,881
    2.5-3% 23 $7,025,000 $305,435
    7-8% 22 $6,090,000 $276,818
    <2.5% 5 $4,005,000 $801,000
    Over 8% 3 $1,375,000 $458,333

    During 2022, Great Western Financial Services's average interest rate for loans was 4.94%, while their most frequently originated rate bucket for loans was 5-6%, with 299 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 510 $148,530,000 $291,235 $8,547 4.89%
    $100k-200k 194 $30,090,000 $155,103 $6,374 4.83%
    $400k-600k 185 $86,555,000 $467,865 $10,796 4.84%
    $600k-1MM 48 $32,550,000 $678,125 $12,939 4.71%
    $100,000 or less 31 $2,585,000 $83,387 $5,226 5.52%
    $1MM+ 5 $6,915,000 $1,383,000 $14,957 4.18%

    2022 saw Great Western Financial Services place emphasis on $200k-400k loans with 510 originations, totaling $148,530,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 285 $99,345,000 $348,579 $9,453 4.87%
    $50k-75k 201 $44,285,000 $220,323 $7,539 4.85%
    $75k-100k 189 $52,045,000 $275,370 $8,618 4.82%
    $150k-250k 168 $70,490,000 $419,583 $9,648 4.93%
    $50k or less 72 $11,530,000 $160,139 $5,823 4.95%
    $250k+ 58 $29,530,000 $509,138 $9,861 4.92%

    Great Western Financial Services lent most frequently to those with incomes in the $100k-150k range, with 285 originations. The second most popular income band? $50k-75k, with 201 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 133 $44,615,000 $335,451 $7,897 4.67%
    20-30% 115 $33,245,000 $289,087 $6,942 4.82%
    50-60% 103 $33,515,000 $325,388 $13,015 5.11%
    44% 58 $19,350,000 $333,621 $8,269 4.88%
    48% 53 $17,785,000 $335,566 $9,290 4.77%
    42% 51 $15,575,000 $305,392 $8,347 4.88%
    40% 50 $13,500,000 $270,000 $7,561 5.03%
    43% 49 $13,805,000 $281,735 $7,981 4.99%
    47% 47 $14,585,000 $310,319 $8,693 4.99%
    49% 41 $14,025,000 $342,073 $9,455 4.82%
    39% 41 $11,075,000 $270,122 $7,404 4.86%
    45% 39 $12,535,000 $321,410 $8,273 4.90%
    38% 38 $12,130,000 $319,211 $7,785 4.76%
    41% 37 $10,565,000 $285,541 $7,705 4.97%
    46% 33 $9,705,000 $294,091 $8,523 5.03%
    37% 30 $11,200,000 $373,333 $10,068 4.70%
    36% 24 $9,800,000 $408,333 $8,901 4.63%
    <20% 23 $7,165,000 $311,522 $9,258 4.91%
    >60% 2 $1,110,000 $555,000 $19,328 5.13%

    Great Western Financial Services lent most frequently to those with DTI ratios of 30-36%, with 133 originations. The next most common DTI ratio? 20-30%, with 115 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 553 $173,575,000 $313,879 $8,656 4.87%
    Not provided 278 $88,590,000 $318,669 $8,537 4.93%
    Black 94 $29,230,000 $310,957 $9,418 4.95%
    Asian 44 $14,320,000 $325,455 $8,564 4.45%
    American Indian 4 $1,510,000 $377,500 $7,023 5.47%

    Approval Rates

    Total approvals of all applications
    92.01%

    Great Western Financial Services has an average approval rate.

    Pick Rate

    Approvals leading to origination
    41.32%

    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 973 $307,225,000 $315,750

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    973 $307,225,000 $315,750

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 23 $3,735,000 $162,391 $5,200 4.95%
    40-60% 57 $14,155,000 $248,333 $6,137 4.61%
    60-80% 289 $91,165,000 $315,450 $7,699 4.76%
    80-100% 586 $189,980,000 $324,198 $9,159 4.96%
    Over 100% 17 $8,075,000 $475,000 $22,515 4.85%
    Under 20% 1 $115,000 $115,000 $5,735 4.88%