An in-depth analysis of the lender GSB Mortgage
A mortgage is one of the biggest financial decisions you’ll ever make, so it’s important to do your research and find a lender who meets your needs. But how do you know which lender to choose? That’s why this unbiased GSB mortgage review can be so helpful. We will give you an honest look at what to expect when you sign up with a particular lender.
In this review, we’ll explore GSB Mortgage, their services, rates, and reviews so at the end you will know if they are the right lender for you or not.
GSB Mortgage offers both fixed-rate and adjustable-rate mortgages (ARMs), conventional loans, jumbo loans, FHA loans, VA loans, and USDA loans. On top of that, they also have rural housing loan programs and non-conforming loans. They are headquartered in Grapevine, Texas and they have been in business since 1989.
GSB Mortgage’s Inc. website is user-friendly and provides detailed information on all of their loan products. They offer a variety of tools to help you calculate your monthly payment and compare different loan options side by side. You can also apply for a loan directly on their website.
|Loan Amount||Up to $1,500,000|
|Loan Terms(Years)||10, 15, 20, and 30 year terms|
|Credit Score Range||N/A|
|No Origination Fee||Yes|
|Mortgage Programs||Conventional, FHA, VA, Jumbo, USDA.|
|Employment Statuses Considered||Full-time employed, part-time employed, self employed.|
|Intended Use||Home purchase and refinancing|
|Joint Loan Applications Accepted||Yes|
|Property Type||Residential, investment and construction|
|Verification Documents Required||Pay stubs and tax returns|
How Much Money Can You Borrow from GSB Mortgage?
If you’re looking to take out a mortgage with GSB, you may be wondering how much money you can borrow. The answer depends on a few factors, including your income, credit score, and debt-to-income ratio.
Income is perhaps the most important factor in determining how much you can borrow from GSB. Your loan amount will be based on your ability to repay the loan, so a higher income will typically mean you can borrow more money. That being said, even if you have a high income, if your credit score is low or your debt-to-income ratio is high, you may still only be able to borrow a smaller amount of money.
Ultimately, the maximum borrowing allowed is up to $1.5 million. Of course, we do advise you to contact your loan officer since they can help you get the best loan amount and interest rate that will suit your needs.
GSB Mortgage Pros & Cons
Like with any other lender, GSB Mortgage Corp has both pros and cons that you should weigh out and consider before signing your name on the dotted line. One of the biggest benefits that working with them gives is that they have been in business for a long time and they are a HUD-accredited company.
On the other hand, they are not a BBB-accredited business even though they have been in business for 36 years. In some cases, this can present a problem regarding the legitimacy of a company.
GSB Mortgage pros:
- HUD accredited
- Long years in business
- Good loan terms
- Big variety of loan
GSB Mortgage cons:
- No BBB accreditation
- They have origination fees
- Long funding time
- There is a mention of interest rates but they are not disclosed on their website
What is the Longest Loan Term You May Obtain from GSB Mortgage?
When it comes to the length of time you can finance a home with GSB Mortgage, they offer some of the longest loan terms in the industry. You may be able to finance your home for up to 30 years with this lender.
So if you are looking for a long-term loan to finance your home, GSB Mortgage should be at the top of your list. But even in case you want to be debt-free faster, they offer 10,15, and 20-year terms that you should take a look at if you don’t mind paying a little more each month.
What Mortgage Rates Do GSB Mortgage Offer?
GSB Mortgage rates are mentioned on their website and you can ask for a loan officer to send them to you, but they are nowhere openly mentioned nor disclosed how much they actually are. This being said, we do recommend you work with a lender that is transparent regarding this. Overall, GSB Mortgage corporation is still a good lender.
What is the Estimated Funding Time?
The estimated funding time for a GSB mortgage is usually between 30 and 45 days. This can be a significant amount of time for some homebuyers, especially if they are in a hurry to close on their new home.
Additionally, there are a few things that can cause delays in the estimated funding time, such as not having all of the necessary information or documentation.
Do They Charge Mortgage Origination Fees?
Yes, GSB mortgage does charge mortgage origination fees for issuing loans to the borrowers. While many look at this as a huge disadvantage, keep in mind that this can keep your interest lower.
Additionally, this amount, which is typically from $1,000 to $5,000 can also be rolled into the loan if that is something you would prefer.
Does GSB Mortgage Charge Prepayment Fees?
GSB Mortgage does not charge prepayment fees. So, in case you are able to pay off your loan early, you will only be responsible for paying the outstanding balance and not any additional charges.
This is a huge plus for any borrowers who can afford to make extra payments.
What Mortgage Programs Are Available?
There are a few different types of mortgage programs available through GSB. The most popular is the 30-year fixed-rate mortgage, which offers a locked-in interest rate for the life of the loan. This loan option is ideal for borrowers who want predictability and stability in their monthly payments.
Other mortgage programs available through GSB include the following:
- Adjustable rate mortgages (ARMs)
- Jumbo loans
- FHA loans
- VA loans
- USDA loans
- Rural housing loan programs
- Non-conforming loans
What Property Usage Types Does GSB Mortgage Allow?
There are a few different types of properties that GSB Mortgage will allow you to use as collateral for your loan. These include:
- Residential properties
- Commercial properties
- Investment properties
Residential properties include houses, apartments, condos, and any other type of housing that is used as a primary residence.
Commercial properties include office buildings, retail stores, warehouses, and any other type of commercial property.
Investment properties include rental properties, vacation homes, and any other type of property that is used as an investment.
How Do People Rate the Customer Service and User Experience?
When it comes to customer service and user experience, GSB Mortgage has a very solid customer rating of 4.1. Many clients praise their customer service, stating they are friendly and helpful. There are also a lot of reviews saying the service GSB Mortgage provides is amazing.
Overall, people are satisfied with them. And in case you want to work with more reliable and legit lenders, feel free to reach us. We can help you find the perfect lender for you and your needs.
Contacts of GSB Mortgage
In case you are interested to work with GSB Mortgage, we will provide you with the needed contact information down below.
Corporate office location and contact details:
201 N Main St. Grapevine, Texas
Main Number: 817-310-1980
Fax Number: 817-421-1912
Other office locations:
2556 Lillian Miller Pkwy Suite 110 Denton, Texas
Availability of GSB Mortgage
In regards to the GSB Mortgage availability, they operate in three states that include the following:
You can reach them via phone numbers they provided on their website or you can reach them directly on their website. Their offices work from Monday to Friday from 9 am until 5 pm.
GSB Mortgage Summary
- GSB Mortgage is a subsidiary of Bank of West that has been in business since 1986.
- They are based in Grapevine, Texas but have an office in Denton as well.
- The company offers both conventional and jumbo mortgages as well as government-based loans like FHA, USDA, and VA.
- Although they have been in business for so long, they have no BBB accreditation, but hold a HUD accreditation.
- Their online reviews are really good and they have 4.1 out of 5 stars.\
FAQs About GSB Mortgage
1. How to Contact GSB Mortgage?
You can contact GSB Mortgage by phone at this number 817-310-1980.
2. What Services Does GSB Mortgage Offer?
They offer mortgage services to borrowers who can qualify for either their conventional or government-backed loans.
3. How Can I Obtain a Loan at GSB Mortgage?
You can go into one of their offices or fill out an online application form if you want to qualify.