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. Mortgage Financial Group has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Orlando, Ocala, Greensboro, The Villages, and Winston among others. We have data for 27 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.

    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% 12/3/24
    30 Year Conventional Refi 6.44% 12/3/24
    30 Year Cash-out Refi 6.92% 12/3/24
    30 Year FHA Purchase 7.47% 12/3/24
    30 Year VA Purchase 6.84% 12/3/24
    30 Year USDA Purchase 6.93% 12/3/24
    15 Year Conventional Purchase 6.30% 12/3/24
    15 Year Conventional Refi 5.88% 12/3/24
    15 Year Cash-out Refi 5.88% 12/3/24
    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

    488

    Origination Dollar Volume (All Markets)

    $96,190,000

    Awards

    MORTGAGE FINANCIAL GROUP FHA Loans silver MORTGAGE FINANCIAL GROUP FHA Loans bronze MORTGAGE FINANCIAL GROUP 30 Year Conventional Loans gold
    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) 280 $58,020,000 $207,214 $6,612 3.19%
    Outside of Metro Areas 64 $10,590,000 $165,469 $5,347 3.15%
    OCALA, FL (FHA|USDA|VA) 36 $5,960,000 $165,556 $6,146 3.24%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 30 $5,570,000 $185,667 $5,889 3.28%
    THE VILLAGES, FL (FHA|USDA|VA) 19 $3,855,000 $202,895 $5,357 3.27%
    WINSTON-SALEM, NC (FHA|USDA|VA) 21 $3,465,000 $165,000 $4,638 3.01%
    Cullowhee, NC (FHA|USDA|VA) 6 $1,180,000 $196,667 $5,125 3.02%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 5 $915,000 $183,000 $5,583 3.10%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $680,000 $340,000 $6,251 3.06%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 2 $600,000 $300,000 $12,578 2.69%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $550,000 $275,000 $4,125 2.94%
    RALEIGH-CARY, NC (FHA|USDA|VA) 2 $540,000 $270,000 $3,173 3.06%
    Pinehurst-Southern Pines, NC (FHA|USDA|VA) 3 $535,000 $178,333 $5,136 3.13%
    WILMINGTON, NC (FHA|USDA|VA) 1 $515,000 $515,000 $3,445 2.75%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $425,000 $425,000 $2,885 2.75%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 3 $425,000 $141,667 $5,068 3.50%
    Athens, TN (FHA|USDA|VA) 1 $375,000 $375,000 $2,363 2.25%
    JACKSONVILLE, FL (FHA|USDA|VA) 1 $365,000 $365,000 $4,448 3.00%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $295,000 $295,000 $2,852 3.13%
    VALDOSTA, GA (FHA|USDA|VA) 1 $235,000 $235,000 $10,673 3.25%
    Lake City, FL (FHA|USDA|VA) 1 $225,000 $225,000 $8,130 2.63%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $225,000 $225,000 $6,075 2.88%
    North Wilkesboro, NC (FHA|USDA|VA) 1 $155,000 $155,000 $3,313 3.00%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $155,000 $155,000 $6,805 4.00%
    JACKSONVILLE, NC (FHA|USDA|VA) 1 $115,000 $115,000 $7,406 2.75%
    Brevard, NC (FHA|USDA|VA) 1 $115,000 $115,000 $0 2.75%
    GAINESVILLE, FL (FHA|USDA|VA) 1 $105,000 $105,000 $6,863 5.00%
    Mortgage Financial Group's top markets include Orlando, Ocala, Greensboro, The Villages, and Winston 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.

    THE MONEY HOUSE INC.
    Similarity Rank: 946
    Credence Funding Corporation
    Similarity Rank: 1080
    AMERICAN HERITAGE CAPITAL, L.P.
    Similarity Rank: 1134
    VYSTAR
    Similarity Rank: 1150
    PREFERRED LENDING SERVICES, LLC
    Similarity Rank: 1280
    Piedmont Federal Savings Bank
    Similarity Rank: 1930
    Citizens First Bank
    Similarity Rank: 2368
    JET HOMELOANS, LLC
    Similarity Rank: 2480
    HOMEAMERICAN MORTGAGE CORPORATION
    Similarity Rank: 2574
    BANKERS MORTGAGE LENDING, INC.
    Similarity Rank: 2576

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 252 $51,800,000 $205,556 $4,825 3.21%
    FHA 138 $26,100,000 $189,130 $7,963 3.11%
    USDA 58 $9,510,000 $163,966 $5,810 3.26%
    VA 40 $8,780,000 $219,500 $8,760 3.16%

    For 2020, Mortgage Financial Group's most frequently originated type of loan was Conventional, with 252 originations. Their 2nd most popular type was FHA, with 138 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 336 $66,110,000 $196,756 $6,664 3.23%
    Refi 93 $19,055,000 $204,892 $4,887 2.95%
    Cash Out Refi 59 $11,025,000 $186,864 $5,260 3.26%

    For 2020, Mortgage Financial Group's most frequently cited loan purpose was Home Purchase, with 336 originations. The 2nd most popular reason was Refi, with 93 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 463 $91,915,000 $198,521 $6,276 3.19%
    15 Year 9 $1,395,000 $155,000 $4,209 2.88%
    20 Year 6 $1,300,000 $216,667 $4,486 2.98%
    Other 6 $1,150,000 $191,667 $3,782 3.25%
    10 Year 4 $430,000 $107,500 $2,627 3.09%

    For 2020, Mortgage Financial Group's most frequently cited loan duration was 30 Year, with 463 originations. The 2nd most popular length was 15 Year, with 9 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 134 $22,620,000 $168,806
    $2k-3k 129 $21,625,000 $167,636
    $<1k 97 $20,675,000 $213,144
    $3k-4k 83 $18,905,000 $227,771
    $4k-5k 31 $8,195,000 $264,355
    $5k+ 14 $4,170,000 $297,857

    Mortgage Financial Group's average total fees were $6,276, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 134 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 196 $38,010,000 $193,929
    2.5-3% 193 $39,655,000 $205,466
    <2.5% 56 $11,490,000 $205,179
    4-5% 40 $6,780,000 $169,500
    5-6% 2 $140,000 $70,000
    6-7% 1 $115,000 $115,000

    During 2020, Mortgage Financial Group's average interest rate for loans was 3.19%, while their most frequently originated rate bucket for loans was 3-4%, with 196 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 256 $39,090,000 $152,695 $5,506 3.21%
    $200k-400k 193 $50,875,000 $263,601 $7,334 3.09%
    $100,000 or less 31 $2,375,000 $76,613 $4,187 3.58%
    $400k-600k 8 $3,850,000 $481,250 $6,007 3.08%

    2020 saw Mortgage Financial Group place emphasis on $100k-200k loans with 256 originations, totaling $39,090,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 158 $22,250,000 $140,823 $5,622 3.20%
    $50k-75k 125 $23,435,000 $187,480 $6,168 3.22%
    $75k-100k 89 $19,285,000 $216,685 $6,670 3.18%
    $100k-150k 81 $20,585,000 $254,136 $6,832 3.10%
    $150k-250k 27 $7,655,000 $283,519 $5,646 3.23%
    $250k+ 8 $2,980,000 $372,500 $5,685 2.98%

    Mortgage Financial Group lent most frequently to those with incomes in the $50k or less range, with 158 originations. The second most popular income band? $50k-75k, with 125 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 104 $21,150,000 $203,365 $5,803 3.21%
    20-30% 76 $14,600,000 $192,105 $5,521 3.16%
    40% 32 $6,610,000 $206,563 $6,423 3.21%
    <20% 31 $6,025,000 $194,355 $4,652 3.17%
    38% 23 $4,755,000 $206,739 $5,946 2.89%
    39% 21 $4,155,000 $197,857 $6,336 3.26%
    50-60% 21 $3,965,000 $188,810 $8,223 3.46%
    37% 20 $4,400,000 $220,000 $6,796 3.16%
    44% 19 $3,285,000 $172,895 $5,022 3.22%
    41% 19 $3,835,000 $201,842 $6,930 3.20%
    46% 18 $3,350,000 $186,111 $6,266 3.40%
    42% 17 $3,215,000 $189,118 $6,037 3.01%
    43% 17 $3,465,000 $203,824 $9,715 3.15%
    49% 17 $3,385,000 $199,118 $5,940 2.96%
    48% 14 $3,190,000 $227,857 $7,266 3.33%
    36% 11 $1,895,000 $172,273 $5,492 3.13%
    45% 11 $2,115,000 $192,273 $7,253 3.03%
    47% 10 $1,770,000 $177,000 $6,403 3.03%
    >60% 1 $235,000 $235,000 $14,690 3.50%

    Mortgage Financial Group lent most frequently to those with DTI ratios of 30-36%, with 104 originations. The next most common DTI ratio? 20-30%, with 76 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 455 $89,545,000 $196,802 $6,125 3.18%
    Black 15 $3,165,000 $211,000 $7,723 3.23%
    Not provided 14 $2,970,000 $212,143 $5,785 3.11%
    Asian 4 $510,000 $127,500 $4,940 3.34%

    Approval Rates

    Total approvals of all applications
    98.15%

    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 origination
    81.56%

    Mortgage Financial Group has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 488 $96,190,000 $197,111

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 26 $3,520,000 $135,385
    Single Family (1-4 Units):Site-Built 462 $92,670,000 $200,584

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 11 $1,755,000 $159,545 $3,943 3.30%
    40-60% 40 $7,110,000 $177,750 $4,674 3.02%
    60-80% 146 $29,450,000 $201,712 $4,973 3.23%
    80-100% 282 $55,820,000 $197,943 $6,935 3.18%
    Over 100% 6 $1,770,000 $295,000 $13,588 3.13%
    Under 20% 1 $65,000 $65,000 $3,193 3.63%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    MORTGAGE FINANCIAL SERVICES FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%