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

2021 Data | 2020 Data | 2019 Data | 2018 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

1,996

Origination Dollar Volume (All Markets)

$545,210,000

Relative 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 applications
92.44%

Great Western Financial Services has an average approval rate.

Pick Rate

Approvals leading to origination
61.38%

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%