Great Western Financial Services Mortgage Rates, Fees & Info
PLANO, TXLEI: 549300W3T1IBMEUW8789
Tax ID: 75-1794257
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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, Austin, San Antonio, and Waco among others. We have data for 64 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.94% | 12/18/24 |
| 30 Year Conventional Refi | 6.70% | 12/18/24 |
| 30 Year Cash-out Refi | 6.95% | 12/18/24 |
| 30 Year FHA Purchase | 7.47% | 12/18/24 |
| 30 Year FHA Refi | 6.27% | 12/18/24 |
| 30 Year VA Purchase | 6.28% | 12/18/24 |
| 30 Year VA Refi | 6.32% | 12/18/24 |
| 30 Year USDA Purchase | 6.70% | 12/18/24 |
| 15 Year Conventional Purchase | 6.16% | 12/18/24 |
| 15 Year Conventional Refi | 6.32% | 12/18/24 |
| 15 Year Cash-out Refi | 6.32% | 12/18/24 |
| 15 Year FHA Purchase | 7.45% | 12/18/24 |
| 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
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This is not an official calculator from Great Western Financial Services. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,732Origination Dollar Volume (All Markets)
$410,510,000Top 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) | 1,199 | $303,565,000 | $253,182 | $5,882 | 4.38% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 180 | $37,370,000 | $207,611 | $5,591 | 4.39% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 65 | $16,665,000 | $256,385 | $5,738 | 4.53% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 52 | $10,310,000 | $198,269 | $4,915 | 4.36% |
| Outside of Metro Areas | 48 | $8,860,000 | $184,583 | $5,429 | 4.51% |
| WACO, TX (FHA|USDA|VA) | 10 | $2,300,000 | $230,000 | $5,935 | 4.66% |
| LUBBOCK, TX (FHA|USDA|VA) | 12 | $2,120,000 | $176,667 | $6,437 | 4.39% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 15 | $2,045,000 | $136,333 | $4,557 | 4.60% |
| EL PASO, TX (FHA|USDA|VA) | 13 | $1,605,000 | $123,462 | $4,439 | 4.62% |
| Granbury, TX (FHA|USDA|VA) | 7 | $1,395,000 | $199,286 | $5,629 | 4.27% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 8 | $1,290,000 | $161,250 | $4,416 | 5.06% |
| Athens, TX (FHA|USDA|VA) | 7 | $1,275,000 | $182,143 | $4,329 | 4.77% |
| TYLER, TX (FHA|USDA|VA) | 7 | $1,225,000 | $175,000 | $4,396 | 4.05% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 2 | $1,210,000 | $605,000 | $5,747 | 3.81% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 8 | $1,200,000 | $150,000 | $4,768 | 4.55% |
| BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) | 8 | $1,030,000 | $128,750 | $4,596 | 4.84% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 2 | $860,000 | $430,000 | $3,377 | 4.50% |
| ODESSA, TX (FHA|USDA|VA) | 4 | $810,000 | $202,500 | $7,142 | 4.97% |
| MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) | 5 | $735,000 | $147,000 | $6,152 | 4.10% |
| Rockport, TX (FHA|USDA|VA) | 2 | $720,000 | $360,000 | $5,670 | 3.81% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 4 | $690,000 | $172,500 | $5,107 | 4.34% |
| LONGVIEW, TX (FHA|USDA|VA) | 4 | $660,000 | $165,000 | $4,001 | 4.28% |
| SAN ANGELO, TX (FHA|USDA|VA) | 3 | $655,000 | $218,333 | $9,393 | 4.42% |
| Brenham, TX (FHA|USDA|VA) | 2 | $630,000 | $315,000 | $5,971 | 4.00% |
| ABILENE, TX (FHA|USDA|VA) | 3 | $545,000 | $181,667 | $3,988 | 4.33% |
| BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) | 5 | $545,000 | $109,000 | $4,664 | 4.78% |
| Lufkin, TX (FHA|USDA|VA) | 4 | $530,000 | $132,500 | $4,314 | 4.31% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $1,771 | 4.63% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $3,405 | 4.38% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $2,815 | 4.38% |
| Bonham, TX (FHA|USDA|VA) | 3 | $435,000 | $145,000 | $5,120 | 4.46% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 3 | $435,000 | $145,000 | $3,580 | 4.83% |
| REDDING, CA (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $3,611 | 5.44% |
| Stephenville, TX (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $7,533 | 5.38% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $4,765 | 4.38% |
| WICHITA FALLS, TX (FHA|USDA|VA) | 3 | $405,000 | $135,000 | $5,453 | 4.63% |
| MIDLAND, TX (FHA|USDA|VA) | 3 | $405,000 | $135,000 | $4,278 | 4.54% |
| Alice, TX (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $10,289 | 4.13% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $7,405 | 3.50% |
| Corsicana, TX (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $4,930 | 4.69% |
| AMARILLO, TX (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $6,212 | 3.75% |
| Gainesville, TX (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $3,554 | 4.94% |
| Big Spring, TX (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $9,181 | 4.63% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $9,077 | 4.13% |
| GREELEY, CO (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,170 | 4.38% |
| LAREDO, TX (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $3,209 | 4.19% |
| Nacogdoches, TX (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $3,893 | 5.13% |
| Crescent City, CA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $7,357 | 4.13% |
| Kingsville, TX (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,103 | 3.75% |
| Del Rio, TX (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $10,033 | 4.13% |
| Kerrville, TX (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,534 | 4.00% |
| Susanville, CA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $9,436 | 3.88% |
| Beeville, TX (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,769 | 3.88% |
| FRESNO, CA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $6,841 | 4.63% |
| El Campo, TX (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $7,949 | 3.63% |
| Tullahoma-Manchester, TN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,332 | 4.88% |
| Andrews, TX (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,000 | 4.63% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $5,237 | 4.00% |
| OCALA, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $9,153 | 3.75% |
| Sweetwater, TX (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,607 | 5.13% |
| Bay City, TX (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $5,214 | 4.63% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $4,023 | 4.50% |
| Borger, TX (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,404 | 4.63% |
| Jacksonville, TX (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,804 | 5.38% |
Similar Lenders
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Product Mix
For 2019, Great Western Financial Services's most frequently originated type of loan was Conventional, with 1,186 originations. Their 2nd most popular type was FHA, with 391 originations.
Loan Reason
For 2019, Great Western Financial Services's most frequently cited loan purpose was Home Purchase, with 1,262 originations. The 2nd most popular reason was Cash Out Refi, with 251 originations.
Loan Duration/Length
For 2019, Great Western Financial Services's most frequently cited loan duration was 30 Year, with 1,552 originations. The 2nd most popular length was 15 Year, with 148 originations.
Origination Fees/Closing Costs
Great Western Financial Services's average total fees were $5,880, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,241 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 855 | $199,125,000 | $232,895 |
| 3-4% | 587 | $148,855,000 | $253,586 |
| 5-6% | 285 | $60,665,000 | $212,860 |
| 2.5-3% | 3 | $905,000 | $301,667 |
| 6-7% | 2 | $960,000 | $480,000 |
During 2019, Great Western Financial Services's average interest rate for loans was 4.47%, while their most frequently originated rate bucket for loans was 4-5%, with 855 originations.
Loan Sizing
2019 saw Great Western Financial Services place emphasis on $200k-400k loans with 872 originations, totaling $235,120,000 in origination value.
Applicant Income
Great Western Financial Services lent most frequently to those with incomes in the $50k-75k range, with 451 originations. The second most popular income band? $100k-150k, with 431 originations.
Applicant Debt to Income Ratio
Great Western Financial Services lent most frequently to those with DTI ratios of 30-36%, with 288 originations. The next most common DTI ratio? 20-30%, with 229 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.41%
Great Western Financial Services has an average approval rate.
Pick Rate
Approvals leading to origination60.80%
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 | 1,732 | $410,510,000 | $237,015 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 1,732 | $410,510,000 | $237,015 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| GREAT WESTERN BANCORP, INC. | Conventional home mortgage | Struggling to pay mortgage | 1 | 50.0% |
| GREAT WESTERN BANCORP, INC. | Other type of mortgage | Closing on a mortgage | 1 | 50.0% |