Florida Home Trust Mortgage Rates, Fees & Info

Weston, FL

LEI: 254900JCTXBH1WCEWG62

Tax ID: 27-0022323

1 stars - out of 5 stars, based on 16 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Florida Home Trust Mortgage is a smaller mortgage company specializing in Home Purchase loans. Florida Home Trust Mortgage has a high proportion of conventional loans. Their top markets include Miami, Orlando, Lakeland, Tampa, and Jacksonville among others. Florida Home Trust Mortgage 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. Florida Home Trust Mortgage is typically a high fee lendor.


Originations

272

Origination Dollar Volume (All Markets)

$85,590,000

Relative Rate

Florida Home Trust Mortgage 's average 30 year fixed rate mortgage of loans were 4.28%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 1.13%.

Relative Fees

Florida Home Trust Mortgage 's average total fees for a 30 year fixed rate mortgage are $16,274.

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
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 193 $64,955,000 $336,554 $16,629 4.29%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 73 $19,665,000 $269,384 $13,786 4.26%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 2 $380,000 $190,000 $0 3.88%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $235,000 $235,000 $0 4.25%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $205,000 $205,000 $0 4.13%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $95,000 $95,000 $0 4.75%
GAINESVILLE, FL (FHA|USDA|VA) 1 $55,000 $55,000 $0 4.13%

Florida Home Trust Mortgage 's top markets include Miami, Orlando, Lakeland, Tampa, and Jacksonville among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 272 $85,590,000 $314,669 $16,274 4.28%

For the 2021 period, Florida Home Trust Mortgage 's most frequently originated loan type of loans were Conventional, with 272 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 225 $67,645,000 $300,644 $17,343 4.28%
Cash Out Refi 32 $10,550,000 $329,688 $13,064 4.35%
Refi 15 $7,395,000 $493,000 $0 4.13%

For the 2021, Florida Home Trust Mortgage 's most frequently cited loan purpose of loans were Home Purchase, with 225 originations. The 2nd most popular reason of loans were Cash Out Refi, with 32 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 272 $85,590,000 $314,669 $16,274 4.28%

For the 2021, Florida Home Trust Mortgage 's most frequently cited loan length of loans were 30 Year, with 272 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$5k+ 7 $5,605,000 $800,714
$3k-4k 1 $225,000 $225,000

$16,274 of loans were Florida Home Trust Mortgage 's average total fees, while their most frequently occuring range of origination fees were in the $5k+ bucket, with 7 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
4-5% 188 $57,740,000 $307,128
3-4% 80 $26,370,000 $329,625
5-6% 2 $650,000 $325,000
6-7% 2 $830,000 $415,000

During 2021, Florida Home Trust Mortgage 's average interest rate of loans were 4.28%, while their most frequently originated rate bucket of loans were 4-5%, with 188 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 154 $40,280,000 $261,558 $10,405 4.27%
$100k-200k 57 $9,055,000 $158,860 $0 4.33%
$400k-600k 23 $10,895,000 $473,696 $14,849 4.29%
$600k-1MM 17 $13,705,000 $806,176 $16,897 4.36%
$100,000 or less 13 $935,000 $71,923 $0 4.15%
$1MM+ 8 $10,720,000 $1,340,000 $22,943 4.08%

2021 saw Florida Home Trust Mortgage place emphasis on $200k-400k loans with 154 originations, totaling $40,280,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$250k+ 86 $42,370,000 $492,674 $18,230 4.21%
$100k-150k 70 $16,590,000 $237,000 $10,405 4.32%
$150k-250k 63 $17,525,000 $278,175 $0 4.31%
$75k-100k 31 $6,245,000 $201,452 $0 4.35%
$50k-75k 15 $2,325,000 $155,000 $0 4.36%
$50k or less 7 $535,000 $76,429 $0 3.95%

Florida Home Trust Mortgage lent most frequently to those with incomes in the $250k+ range, with 86 originations. The second most popular income band? $100k-150k, with 70 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
<20% 80 $24,480,000 $306,000 $16,037 4.25%
20-30% 74 $22,810,000 $308,243 $13,064 4.24%
30-36% 65 $20,215,000 $311,000 $14,681 4.35%
38% 12 $4,160,000 $346,667 $0 4.39%
37% 11 $2,095,000 $190,455 $0 4.33%
41% 10 $5,560,000 $556,000 $19,554 4.13%
36% 9 $2,675,000 $297,222 $0 4.43%
39% 6 $2,240,000 $373,333 $0 4.13%
40% 5 $1,355,000 $271,000 $0 4.35%

Florida Home Trust Mortgage lent most frequently to those with DTI ratios of <20%, with 80 originations. The next most common DTI ratio? 20-30%, with 74 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 257 $81,495,000 $317,101 $16,274 4.28%
Asian 12 $3,370,000 $280,833 $0 4.10%
Black 2 $470,000 $235,000 $0 4.63%
Chinese 1 $255,000 $255,000 $0 4.63%

Approval Rates

Total approvals of all applications
97.97%

Florida Home Trust Mortgage has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
76.79%

Florida Home Trust Mortgage has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 272 $85,590,000 $314,669

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
272 $85,590,000 $314,669

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 8 $1,850,000 $231,250 $0 4.33%
40-60% 97 $28,455,000 $293,351 $13,064 4.32%
60-80% 167 $55,285,000 $331,048 $17,343 4.25%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Florida Pro Mortgage LLC Other type of mortgage Closing on a mortgage 1 100.0%