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. 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, Greensboro, Ocala, Winston, and The Villages among others. We have data for 31 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 a high 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
406Origination Dollar Volume (All Markets)
$87,260,000Awards
MORTGAGE FINANCIAL GROUP - 2021
MORTGAGE FINANCIAL GROUP is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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) | 203 | $45,605,000 | $224,655 | $8,797 | 3.08% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 46 | $9,670,000 | $210,217 | $7,624 | 3.08% |
| Outside of Metro Areas | 48 | $8,560,000 | $178,333 | $5,816 | 3.00% |
| OCALA, FL (FHA|USDA|VA) | 26 | $5,070,000 | $195,000 | $9,571 | 3.00% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 20 | $3,800,000 | $190,000 | $6,892 | 3.21% |
| THE VILLAGES, FL (FHA|USDA|VA) | 18 | $3,480,000 | $193,333 | $8,348 | 3.02% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 6 | $1,560,000 | $260,000 | $9,288 | 2.96% |
| GAINESVILLE, FL (FHA|USDA|VA) | 4 | $1,210,000 | $302,500 | $10,225 | 3.47% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 4 | $990,000 | $247,500 | $6,912 | 3.28% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 3 | $815,000 | $271,667 | $8,703 | 2.96% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 2 | $690,000 | $345,000 | $11,558 | 3.56% |
| Cullowhee, NC (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $8,520 | 3.13% |
| Brevard, NC (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $9,656 | 2.75% |
| PANAMA CITY, FL (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $11,831 | 3.44% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $9,937 | 2.88% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $5,421 | 3.13% |
| Lake City, FL (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $8,572 | 2.88% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $17,054 | 2.88% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $10,233 | 3.13% |
| Athens, TN (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $4,657 | 3.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $7,535 | 3.38% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $5,805 | 2.69% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $9,410 | 3.25% |
| Key West, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $22,017 | 2.63% |
| SAVANNAH, GA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 3.00% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,705 | 2.88% |
| Fitzgerald, GA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $9,149 | 3.00% |
| Toccoa, GA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $5,340 | 3.50% |
| North Wilkesboro, NC (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,383 | 3.13% |
| Thomaston, GA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $7,011 | 2.75% |
| Mount Airy, NC (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $4,756 | 3.13% |
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 2021, Mortgage Financial Group's most frequently originated type of loan was Conventional, with 263 originations. Their 2nd most popular type was FHA, with 93 originations.
Loan Reason
For 2021, Mortgage Financial Group's most frequently cited loan purpose was Home Purchase, with 281 originations. The 2nd most popular reason was Refi, with 63 originations.
Loan Duration/Length
For 2021, Mortgage Financial Group's most frequently cited loan duration was 30 Year, with 374 originations. The 2nd most popular length was 15 Year, with 22 originations.
Origination Fees/Closing Costs
Mortgage Financial Group's average total fees were $8,394, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 159 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 204 | $44,670,000 | $218,971 |
| 2.5-3% | 169 | $35,845,000 | $212,101 |
| <2.5% | 29 | $5,885,000 | $202,931 |
| 4-5% | 3 | $655,000 | $218,333 |
| 6-7% | 1 | $205,000 | $205,000 |
During 2021, Mortgage Financial Group's average interest rate for loans was 3.09%, while their most frequently originated rate bucket for loans was 3-4%, with 204 originations.
Loan Sizing
2021 saw Mortgage Financial Group place emphasis on $100k-200k loans with 184 originations, totaling $28,430,000 in origination value.
Applicant Income
Mortgage Financial Group lent most frequently to those with incomes in the $50k-75k range, with 121 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 76 originations. The next most common DTI ratio? 30-36%, with 73 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.02%
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 origination78.08%
Mortgage Financial Group has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1799.9 | 1 | $105,000 | $105,000 |
| 5416.0 | 1 | $225,000 | $225,000 |
| 7360.03 | 1 | $185,000 | $185,000 |
| NA | 403 | $86,745,000 | $215,248 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MORTGAGE INVESTORS GROUP | VA mortgage | Closing on a mortgage | 1 | 50.0% |
| MORTGAGE INVESTORS GROUP | Other type of mortgage | Improper use of your report | 1 | 50.0% |