Mortgage Financial Group Rates, Fees & Info

TAVARES, FL

LEI: 5493004KSBZEBHIMRT79

Tax ID: 54-2096352

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Mortgage Financial Group is a smaller mortgage company specializing in Home Purchase loans. They have a a high proportion of FHA loans. Mortgage Financial Group has a high proportion of conventional loans. Their top markets by origination volume include: Orlando, Greensboro, Winston, Ocala, and Atlanta among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Mortgage Financial Group 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. Mortgage Financial Group 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 6.94% 11/21/24
    30 Year Conventional Refi 6.44% 11/21/24
    30 Year Cash-out Refi 6.92% 11/21/24
    30 Year FHA Purchase 7.47% 11/21/24
    30 Year VA Purchase 6.84% 11/21/24
    30 Year USDA Purchase 6.93% 11/21/24
    15 Year Conventional Purchase 6.30% 11/21/24
    15 Year Conventional Refi 5.88% 11/21/24
    15 Year Cash-out Refi 5.88% 11/21/24
    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.

    Mortgage Financial Group Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Mortgage Financial Group. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    199

    Origination Dollar Volume (All Markets)

    $37,485,000

    Awards

    MORTGAGE FINANCIAL GROUP USDA Loans gold MORTGAGE FINANCIAL GROUP USDA Loans bronze MORTGAGE FINANCIAL GROUP 30 Year Conventional Loans bronze
    Show all (3) awards

    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
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 117 $23,845,000 $203,803 $6,443 4.72%
    Outside of Metro Areas 41 $7,115,000 $173,537 $5,241 4.43%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 9 $1,345,000 $149,444 $5,782 4.81%
    WINSTON-SALEM, NC (FHA|USDA|VA) 9 $1,155,000 $128,333 $5,126 4.78%
    OCALA, FL (FHA|USDA|VA) 6 $860,000 $143,333 $5,798 4.54%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $420,000 $210,000 $4,255 4.56%
    RALEIGH-CARY, NC (FHA|USDA|VA) 2 $420,000 $210,000 $3,883 4.69%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $335,000 $335,000 $6,886 3.75%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $310,000 $155,000 $7,062 4.88%
    Boone, NC (FHA|USDA|VA) 1 $285,000 $285,000 $6,126 4.38%
    THE VILLAGES, FL (FHA|USDA|VA) 2 $250,000 $125,000 $4,769 5.19%
    FAYETTEVILLE, NC (FHA|USDA|VA) 1 $245,000 $245,000 $5,888 4.38%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $245,000 $245,000 $8,478 4.00%
    Cullowhee, NC (FHA|USDA|VA) 1 $155,000 $155,000 $6,721 4.38%
    CLEVELAND, TN (FHA|USDA|VA) 1 $145,000 $145,000 $2,548 4.38%
    KNOXVILLE, TN (FHA|USDA|VA) 1 $135,000 $135,000 $4,578 3.75%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $115,000 $115,000 $4,329 4.25%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $105,000 $105,000 $3,449 5.38%
    Mortgage Financial Group's top markets include Orlando, Greensboro, Winston, Ocala, and Atlanta among others.

    Their top states include:
  • Florida (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)

    • Similar Lenders

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

    McCoy Federal Credit Union
    Similarity Rank: 60
    Brannen Bank
    Similarity Rank: 450
    CRESCENT MORTGAGE COMPANY
    Similarity Rank: 560
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 614
    TrustCo Bank
    Similarity Rank: 700
    CAMPUS USA
    Similarity Rank: 837
    HOMESERVICES LENDING, LLC
    Similarity Rank: 884
    FLORIDA
    Similarity Rank: 1216
    ADDITION FINANCIAL
    Similarity Rank: 1222
    WATSON MORTGAGE CORP.
    Similarity Rank: 1254

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    FHA 86 $15,320,000 $178,140 $7,368 4.61%
    Conventional 74 $14,420,000 $194,865 $4,263 4.73%
    VA 21 $5,125,000 $244,048 $6,986 4.67%
    USDA 18 $2,620,000 $145,556 $5,266 4.44%

    For 2018, Mortgage Financial Group's most frequently originated type of loan was FHA, with 86 originations. Their 2nd most popular type was Conventional, with 74 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 174 $33,620,000 $193,218 $6,174 4.64%
    Cash Out Refi 22 $3,220,000 $146,364 $4,738 4.70%
    Refi 3 $645,000 $215,000 $4,026 4.21%

    For 2018, Mortgage Financial Group's most frequently cited loan purpose was Home Purchase, with 174 originations. The 2nd most popular reason was Cash Out Refi, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 195 $36,865,000 $189,051 $6,014 4.65%
    15 Year 2 $440,000 $220,000 $5,599 4.00%
    10 Year 1 $75,000 $75,000 $3,263 4.13%
    20 Year 1 $105,000 $105,000 $3,449 5.38%

    For 2018, Mortgage Financial Group's most frequently cited loan duration was 30 Year, with 195 originations. The 2nd most popular length was 15 Year, with 2 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 67 $14,505,000 $216,493
    $2k-3k 54 $9,010,000 $166,852
    $1k-2k 35 $4,295,000 $122,714
    $3k-4k 24 $6,010,000 $250,417
    $4k-5k 5 $1,555,000 $311,000
    $5k+ 1 $315,000 $315,000

    Mortgage Financial Group's average total fees were $6,014, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 67 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 145 $27,325,000 $188,448
    5-6% 35 $6,225,000 $177,857
    3-4% 19 $3,935,000 $207,105

    During 2018, Mortgage Financial Group's average interest rate for loans was 4.65%, while their most frequently originated rate bucket for loans was 4-5%, with 145 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 103 $15,435,000 $149,854 $5,577 4.60%
    $200k-400k 73 $19,565,000 $268,014 $7,209 4.63%
    $100,000 or less 21 $1,655,000 $78,810 $3,481 4.88%
    $400k-600k 2 $830,000 $415,000 $8,414 4.81%

    2018 saw Mortgage Financial Group place emphasis on $100k-200k loans with 103 originations, totaling $15,435,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 62 $8,290,000 $133,710 $5,136 4.56%
    $50k-75k 56 $9,990,000 $178,393 $6,445 4.71%
    $75k-100k 36 $7,490,000 $208,056 $6,255 4.73%
    $100k-150k 32 $8,010,000 $250,313 $6,467 4.65%
    $150k-250k 11 $3,005,000 $273,182 $6,237 4.52%
    $250k+ 2 $700,000 $350,000 $5,280 4.25%

    Mortgage Financial Group lent most frequently to those with incomes in the $50k or less range, with 62 originations. The second most popular income band? $50k-75k, with 56 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 29 $4,375,000 $150,862 $5,694 4.66%
    20-30% 25 $4,245,000 $169,800 $5,321 4.57%
    50-60% 22 $5,110,000 $232,273 $8,867 4.70%
    42% 13 $2,335,000 $179,615 $4,456 4.80%
    47% 12 $2,370,000 $197,500 $7,112 4.70%
    37% 12 $1,910,000 $159,167 $5,504 4.57%
    39% 11 $1,875,000 $170,455 $5,338 4.56%
    44% 9 $1,465,000 $162,778 $5,220 4.75%
    <20% 8 $1,690,000 $211,250 $4,346 4.36%
    38% 8 $1,810,000 $226,250 $6,218 4.69%
    46% 8 $1,900,000 $237,500 $7,787 4.41%
    41% 7 $1,195,000 $170,714 $6,627 4.70%
    49% 7 $1,695,000 $242,143 $6,326 4.73%
    43% 7 $995,000 $142,143 $5,619 4.75%
    40% 5 $965,000 $193,000 $5,491 4.50%
    48% 5 $925,000 $185,000 $5,115 4.60%
    36% 5 $1,185,000 $237,000 $5,498 5.13%
    45% 3 $745,000 $248,333 $3,863 4.42%
    >60% 3 $695,000 $231,667 $4,478 4.54%

    Mortgage Financial Group lent most frequently to those with DTI ratios of 30-36%, with 29 originations. The next most common DTI ratio? 20-30%, with 25 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 183 $34,295,000 $187,404 $6,050 4.63%
    Black 9 $1,785,000 $198,333 $5,346 4.94%
    Not provided 5 $905,000 $181,000 $4,985 4.58%
    Asian 2 $500,000 $250,000 $5,251 5.06%

    Approval Rates

    Total approvals of all applications
    88.62%

    Mortgage Financial Group has an average approval rate.

    Pick Rate

    Approvals leading to origination
    56.28%

    Mortgage Financial Group 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 199 $37,485,000 $188,367

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 3 $305,000 $101,667
    Single Family (1-4 Units):Site-Built 196 $37,180,000 $189,694

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 3 $295,000 $98,333 $2,946 4.38%
    40-60% 5 $405,000 $81,000 $2,827 4.45%
    60-80% 36 $7,300,000 $202,778 $4,808 4.76%
    80-100% 152 $29,080,000 $191,316 $6,434 4.64%
    Over 100% 3 $405,000 $135,000 $5,540 4.17%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    360 MORTGAGE GROUP LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 4.5%
    360 MORTGAGE GROUP LLC Conventional home mortgage Incorrect information on your report 1 4.5%
    360 MORTGAGE GROUP LLC Conventional home mortgage Trouble during payment process 2 9.1%
    360 MORTGAGE GROUP LLC FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 4.5%
    360 MORTGAGE GROUP LLC FHA mortgage Struggling to pay mortgage 1 4.5%
    360 MORTGAGE GROUP LLC FHA mortgage Trouble during payment process 2 9.1%
    360 MORTGAGE GROUP LLC Other type of mortgage Struggling to pay mortgage 2 9.1%
    360 MORTGAGE GROUP LLC VA mortgage Closing on a mortgage 1 4.5%
    360 MORTGAGE GROUP LLC VA mortgage Incorrect information on your report 1 4.5%
    360 MORTGAGE GROUP LLC VA mortgage Struggling to pay mortgage 7 31.8%
    360 MORTGAGE GROUP LLC VA mortgage Trouble during payment process 3 13.6%