We Florida Financial Mortgage Rates, Fees & InfoMargate, FL
Tax ID: 59-0709646
Review & OverviewWe 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.
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|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.|
Origination Dollar Volume (All Markets)$33,855,000
We Florida Financial's average 30 year fixed mortgage rate was
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.
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 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.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2021, We Florida Financial's most frequently originated type of loan was Conventional, with 241 originations.
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.
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|
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.
|Loan Rate||Originations||Total Value||Average Loan|
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.
2021 saw We Florida Financial place emphasis on $100,000 or less loans with 115 originations, totaling $5,695,000 in origination value.
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
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.
Approval RatesTotal approvals of all applications
We Florida Financial has an average approval rate.
Pick RateApprovals leading to origination
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|