Mortgage Financial Group Rates, Fees & Info
TAVARES, FLLEI: 5493004KSBZEBHIMRT79
Tax ID: 54-2096352
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Mortgage Data
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 Deltona among others. We have data for 24 markets. (Some data included below & more in-depth data is available with an active subscription.)Mortgage Financial Group has an above 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.94% | 4/21/24 |
| 30 Year Conventional Refi | 6.44% | 4/21/24 |
| 30 Year Cash-out Refi | 6.92% | 4/21/24 |
| 30 Year FHA Purchase | 7.47% | 4/21/24 |
| 30 Year VA Purchase | 6.84% | 4/21/24 |
| 30 Year USDA Purchase | 6.93% | 4/21/24 |
| 15 Year Conventional Purchase | 6.30% | 4/21/24 |
| 15 Year Conventional Refi | 5.88% | 4/21/24 |
| 15 Year Cash-out Refi | 5.88% | 4/21/24 |
| 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
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This is not an official calculator from Mortgage Financial Group. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
342Origination Dollar Volume (All Markets)
$63,370,000Top 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) | 202 | $40,180,000 | $198,911 | $7,160 | 4.33% |
| Outside of Metro Areas | 42 | $6,920,000 | $164,762 | $5,621 | 4.42% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 22 | $3,180,000 | $144,545 | $5,955 | 4.64% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 18 | $2,500,000 | $138,889 | $5,704 | 4.63% |
| OCALA, FL (FHA|USDA|VA) | 13 | $1,945,000 | $149,615 | $6,736 | 4.63% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 7 | $1,235,000 | $176,429 | $7,341 | 4.39% |
| THE VILLAGES, FL (FHA|USDA|VA) | 6 | $1,230,000 | $205,000 | $6,853 | 4.25% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 4 | $990,000 | $247,500 | $8,404 | 4.28% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 4 | $700,000 | $175,000 | $6,754 | 4.50% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 3 | $685,000 | $228,333 | $7,227 | 4.67% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $8,564 | 4.44% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 4 | $640,000 | $160,000 | $4,640 | 5.06% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $6,406 | 4.56% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $12,504 | 4.00% |
| Athens, TN (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $4,693 | 3.81% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $9,082 | 4.50% |
| Mount Airy, NC (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $4,806 | 4.50% |
| Cullowhee, NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $5,250 | 3.63% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $5,772 | 5.83% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $6,524 | 4.50% |
| Sanford, NC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $6,019 | 5.13% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $6,052 | 4.13% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $4,035 | 5.88% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $4,705 | 4.88% |
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.
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Product Mix
For 2019, Mortgage Financial Group's most frequently originated type of loan was FHA, with 156 originations. Their 2nd most popular type was Conventional, with 108 originations.
Loan Reason
For 2019, Mortgage Financial Group's most frequently cited loan purpose was Home Purchase, with 296 originations. The 2nd most popular reason was Cash Out Refi, with 31 originations.
Loan Duration/Length
For 2019, Mortgage Financial Group's most frequently cited loan duration was 30 Year, with 336 originations. The 2nd most popular length was 15 Year, with 5 originations.
Origination Fees/Closing Costs
Mortgage Financial Group's average total fees were $6,775, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 100 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 185 | $34,155,000 | $184,622 |
| 3-4% | 107 | $20,715,000 | $193,598 |
| 5-6% | 49 | $8,425,000 | $171,939 |
During 2019, Mortgage Financial Group's average interest rate for loans was 4.42%, while their most frequently originated rate bucket for loans was 4-5%, with 185 originations.
Loan Sizing
2019 saw Mortgage Financial Group place emphasis on $100k-200k loans with 183 originations, totaling $27,505,000 in origination value.
Applicant Income
Mortgage Financial Group lent most frequently to those with incomes in the $50k-75k range, with 116 originations. The second most popular income band? $50k or less, with 115 originations.
Applicant Debt to Income Ratio
Mortgage Financial Group lent most frequently to those with DTI ratios of 20-30%, with 49 originations. The next most common DTI ratio? 30-36%, with 46 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.37%
Mortgage Financial Group has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination74.85%
Mortgage Financial Group has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 342 | $63,370,000 | $185,292 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 18 | $2,110,000 | $117,222 |
| Single Family (1-4 Units):Site-Built | 324 | $61,260,000 | $189,074 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| 360 MORTGAGE GROUP LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |
| 360 MORTGAGE GROUP LLC | FHA mortgage | Trouble during payment process | 1 | 50.0% |