Is Golden Empire Mortgage a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Golden Empire Mortgage to those of other lenders for a comparable set of borrowers. Here is our review of Golden Empire Mortgage nationally:
|Review Item||Golden Empire Mortgage|
|Interest Rate||similar to other lenders (-0.00%)|
|Loan Related Closing Costs||higher than other lenders (+$728)|
|National Rate and Closing Cost Star Rating||(4)|
On average, Golden Empire Mortgage’s interest rates were similar to those of other lenders (-0.00%). On the other hand, its loan related closing costs were higher than those of other lenders, with a difference of +$728. Overall, combining interest rates and closing costs we estimate that Golden Empire Mortgage tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 4 out of 5 stars.
We maintain our independence by not accepting any money from the mortgage lenders we review. To visit Golden Empire Mortgage, check out its website at: https://www.gemcorp.com.
Golden Empire Mortgage’s Rate Review by City
Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders by city, click here. In particular, among the cities we track Golden Empire Mortgage was most active in:
In addition, Golden Empire Mortgage is our top ranked/best mortgage lender in terms of interest rate and closing costs in:
- Bakersfield, CA, overall
Golden Empire Mortgage’s Rate Review by Mortgage Type
Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Golden Empire Mortgage originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases. It also originated Conforming, FHA, Jumbo and VA mortgages for refinances. Its average interest rate and total loan related closing cost difference relative to other lenders for comparable borrowers by mortgages type is as follows.
|New Purchase Mortgages||Conforming||FHA||Jumbo||USDA||VA|
|Interest Rate Difference||-0.06%||+0.05%||+0.05%||+0.00%||+0.09%|
|Loan Related Closing Cost Difference||+$720||+$1530||+$420||+$92||+$248|
|Cost Adjusted Rate Difference||-0.30%||+0.13%||+0.06%||+0.01%||+0.10%|
|National Star Rating|
|Interest Rate Difference||+0.00%||+0.07%||+0.03%||+0.09%|
|Loan Related Closing Cost Difference||+$357||+$207||+$242||+$29|
|Cost Adjusted Rate Difference||+0.02%||+0.08%||+0.04%||+0.09%|
|Average Star Rating|
As a summary, Golden Empire Mortgage is cheap for Conforming purchase mortgages. It is similar to other lenders for USDA purchase mortgages. It is more expensive than other lenders for FHA, Jumbo and VA purchase mortgages. For refinancing mortgages, Golden Empire Mortgage is similar to other lenders for Conforming and Jumbo mortgage refinance. It is more expensive than other lenders for FHA and VA mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.
Other information about Golden Empire Mortgage:
Registered city and state: Bakersfield, CA, 93309
Regulator: United States Department of Housing and Urban Development (HUD)
* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Golden Empire Mortgage’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.