We Florida Financial Mortgage Rates, Fees & Info

Margate, FL

LEI: 254900XS6ZEOAD9Q6N72

Tax ID: 59-0709646

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

Latest/2021 | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • SimulatedRates™
  • Review & Overview

    We Florida Financial is a smaller mortgage company specializing in Cash Out Refi and Refi loans. We Florida Financial has a high proportion of conventional loans. Their top markets by origination volume include: Miami, Ocala, Port St. Lucie, Deltona, and Cape Coral among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)

    We Florida Financial has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. We Florida Financial 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    SimulatedRates™

    Mortgage Type
    Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.86% 12/4/22
    30 Year Conventional Refi 6.75% 12/4/22
    30 Year Cash-out Refi 6.80% 12/4/22
    15 Year Conventional Purchase 6.09% 12/4/22
    15 Year Conventional Refi 6.06% 12/4/22
    15 Year Cash-out Refi 6.06% 12/4/22
    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.


    Originations

    241

    Origination Dollar Volume (All Markets)

    $33,855,000

    Awards

    We Florida Financial 30 Year Conventional Loans gold We Florida Financial 30 Year Conventional Loans bronze
    Show all (2) awards

    Relative Rate

    We Florida Financial's average 30 year fixed mortgage rate was 2.97%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.18%.

    Relative Fees (Closing Costs)

    We Florida Financial's average total fees/closing costs for a 30 year fixed rate mortgage were $3,741.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

    Top 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
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 216 $30,470,000 $141,065 $2,162 3.20%
    OCALA, FL (FHA|USDA|VA) 3 $645,000 $215,000 $3,366 2.92%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 6 $520,000 $86,667 $1,675 3.17%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $400,000 $200,000 $1,904 2.93%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $380,000 $190,000 $4,065 2.88%
    JACKSONVILLE, FL (FHA|USDA|VA) 2 $320,000 $160,000 $2,213 3.91%
    THE VILLAGES, FL (FHA|USDA|VA) 1 $305,000 $305,000 $3,601 2.88%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $235,000 $235,000 $3,877 3.13%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $235,000 $235,000 $495 3.79%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $160,000 $80,000 $1,724 3.43%
    Palatka, FL (FHA|USDA|VA) 1 $55,000 $55,000 $295 3.99%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $45,000 $45,000 $295 3.99%
    SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $35,000 $35,000 $295 4.79%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $25,000 $25,000 $295 3.99%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $25,000 $25,000 $295 3.99%
    We Florida Financial's top markets include Miami, Ocala, Port St. Lucie, Deltona, and Cape Coral among others.

    Their top states include:
  • Florida (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against We Florida Financial based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    DADE COUNTY FEDERAL CREDIT UNION
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    OCEANSIDE MORTGAGE COMPANY
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    We Florida Financial
    Similarity Rank: 1770
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    Similarity Rank: 1950
    AMERANT BANK, NATIONAL ASSOCIATION
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    MIAMI FIREFIGHTERS FCU
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    Suncoast Credit Union
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    SOUTH FLORIDA EDUCATIONAL
    Similarity Rank: 3054
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    Similarity Rank: 3808

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 241 $33,855,000 $140,477 $2,143 3.22%

    For 2021, We Florida Financial's most frequently originated type of loan was Conventional, with 241 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 69 $4,715,000 $68,333 $553 3.71%
    Cash Out Refi 64 $13,000,000 $203,125 $3,192 2.90%
    Refi 45 $7,865,000 $174,778 $2,911 2.81%
    Home Purchase 35 $6,645,000 $189,857 $3,738 2.98%
    Other 28 $1,630,000 $58,214 $439 3.69%

    For 2021, We Florida Financial's most frequently cited loan purpose was Home Improvement, with 69 originations. The 2nd most popular reason was Cash Out Refi, with 64 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 76 $17,060,000 $224,474 $3,741 2.97%
    10 Year 58 $3,720,000 $64,138 $300 4.14%
    15 Year 50 $9,430,000 $188,600 $3,443 2.49%
    5 Year 27 $945,000 $35,000 $262 3.13%
    Other 20 $1,200,000 $60,000 $286 3.66%
    20 Year 10 $1,500,000 $150,000 $2,982 2.79%

    For 2021, We Florida Financial's most frequently cited loan duration was 30 Year, with 76 originations. The 2nd most popular length was 10 Year, with 58 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 132 $27,000,000 $204,545
    $<1k 107 $6,375,000 $59,579
    $2k-3k 1 $235,000 $235,000
    $3k-4k 1 $245,000 $245,000

    We Florida Financial's average total fees were $3,741, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 132 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 95 $16,785,000 $176,684
    3-4% 90 $8,780,000 $97,556
    <2.5% 38 $7,090,000 $186,579
    4-5% 18 $1,200,000 $66,667

    During 2021, We Florida Financial's average interest rate for loans was 2.97%, while their most frequently originated rate bucket for loans was 2.5-3%, with 95 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 115 $5,695,000 $49,522 $739 3.58%
    $200k-400k 64 $16,790,000 $262,344 $3,678 2.89%
    $100k-200k 53 $7,545,000 $142,358 $2,939 2.90%
    $400k-600k 9 $3,825,000 $425,000 $4,480 2.79%

    2021 saw We Florida Financial place emphasis on $100,000 or less loans with 115 originations, totaling $5,695,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 80 $11,670,000 $145,875 $1,998 3.25%
    $75k-100k 53 $8,255,000 $155,755 $2,243 3.11%
    $50k-75k 50 $6,310,000 $126,200 $2,266 3.30%
    $150k-250k 28 $4,300,000 $153,571 $1,855 3.20%
    $50k or less 23 $1,995,000 $86,739 $2,529 3.11%
    $250k+ 7 $1,325,000 $189,286 $2,049 3.42%

    We Florida Financial lent most frequently to those with incomes in the $100k-150k range, with 80 originations. The second most popular income band? $75k-100k, with 53 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 54 $5,810,000 $107,593 $1,830 3.26%
    30-36% 40 $4,670,000 $116,750 $1,757 3.34%
    <20% 23 $2,785,000 $121,087 $2,005 2.95%
    44% 17 $2,845,000 $167,353 $2,991 2.94%
    38% 17 $1,995,000 $117,353 $1,673 3.27%
    40% 16 $2,460,000 $153,750 $2,172 3.50%
    41% 13 $1,695,000 $130,385 $1,972 3.38%
    43% 12 $1,730,000 $144,167 $1,644 3.45%
    42% 8 $1,390,000 $173,750 $2,904 3.17%
    39% 7 $825,000 $117,857 $1,692 3.53%
    36% 7 $1,365,000 $195,000 $2,845 2.98%
    45% 7 $1,715,000 $245,000 $3,234 3.01%
    48% 6 $1,650,000 $275,000 $3,975 2.85%
    37% 5 $835,000 $167,000 $2,415 3.18%
    49% 4 $1,090,000 $272,500 $3,868 2.72%
    47% 3 $545,000 $181,667 $2,116 3.16%
    46% 2 $450,000 $225,000 $3,237 3.00%

    We Florida Financial lent most frequently to those with DTI ratios of 20-30%, with 54 originations. The next most common DTI ratio? 30-36%, with 40 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 142 $19,500,000 $137,324 $1,923 3.27%
    Black 64 $9,610,000 $150,156 $2,481 3.17%
    Not provided 30 $3,910,000 $130,333 $2,318 3.14%
    Asian 3 $485,000 $161,667 $2,912 2.67%
    American Indian 1 $225,000 $225,000 $3,322 3.13%
    Asian Indian 1 $125,000 $125,000 $3,074 3.25%

    Approval Rates

    Total approvals of all applications
    86.33%

    We Florida Financial has an average approval rate.

    Pick Rate

    Approvals leading to origination
    64.73%

    We Florida Financial 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 241 $33,855,000 $140,477

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    241 $33,855,000 $140,477

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 41 $4,715,000 $115,000 $1,770 3.34%
    40-60% 44 $8,230,000 $187,045 $3,394 2.72%
    60-80% 56 $12,510,000 $223,393 $3,500 2.91%
    80-100% 16 $4,630,000 $289,375 $4,215 2.96%
    Under 20% 83 $3,715,000 $44,759 $372 3.67%