Gibraltar Mortgage Services Interest Rate and Cost Review

Is Gibraltar Mortgage Services a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Gibraltar Mortgage Services to those of other lenders for a comparable set of borrowers. Here is our review of Gibraltar Mortgage Services nationally:

Review ItemGibraltar Mortgage Services
Interest Ratesimilar to other lenders (+0.09%)
Loan Related Closing Costshigher than other lenders (+$735)
National Rate and Closing Cost Star Rating(3)

On average, Gibraltar Mortgage Services’s interest rates were similar to those of other lenders (+0.09%). On the other hand, its loan related closing costs were higher than those of other lenders, with a difference of +$735. Overall, combining interest rates and closing costs we estimate that Gibraltar Mortgage Services tends to be an expensive lender, and give it a National Rate and Closing Costs Rating of 3 out of 5 stars. We maintain our independence by not accepting any money from the mortgage lenders we review. To visit Gibraltar Mortgage Services, its website is located at: https://www.gibraltarlending.com.

Gibraltar Mortgage Services’s Rate Review by City

Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders in your area, click here. In particular, among the cities we track Gibraltar Mortgage Services was most active in:

  1. Houston, TX
  2. San Antonio, TX
  3. Austin, TX
  4. College Station, TX
  5. Killeen, TX

Gibraltar Mortgage Services’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, Gibraltar Mortgage Services originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases. It also originated Conforming 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.

Purchase/Refinance:
New Purchase MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference+0.08%+0.19%+0.05%-0.01%+0.03%
Loan Related Closing Cost Difference+$888+$669+$527+$58+$504
Cost Adjusted Rate Difference+0.14%+0.23%+0.06%-0.01%+0.06%
National Star Rating(3)(2.5)(3)(3.5)(3)
Refinance MortgagesConformingVA
Interest Rate Difference-0.08%+0.03%
Loan Related Closing Cost Difference+$134-$29
Cost Adjusted Rate Difference-0.08%+0.02%
Average Star Rating(4)(3.5)

As a summary, Gibraltar Mortgage Services is similar to other lenders for USDA purchase mortgages. It is more expensive than other lenders for Conforming, FHA, Jumbo and VA purchase mortgages. For refinancing mortgages, Gibraltar Mortgage Services is cheap for Conforming mortgage refinance. It is similar to other lenders for 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 Gibraltar Mortgage Services:

Registered name: Gibraltar Mortgage Services
Registered city and state: Houston, TX, 77056
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 Gibraltar Mortgage Services’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.