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, Greensboro, Winston, Ocala, and The Villages among others. We have data for 20 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% 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

    244

    Origination Dollar Volume (All Markets)

    $56,370,000

    Awards

    MORTGAGE FINANCIAL GROUP FHA Loans silver
    Show all (1) 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) 107 $25,165,000 $235,187 $7,287 4.86%
    Outside of Metro Areas 35 $7,225,000 $206,429 $6,528 4.73%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 26 $5,560,000 $213,846 $6,554 5.09%
    WINSTON-SALEM, NC (FHA|USDA|VA) 23 $4,935,000 $214,565 $6,704 5.08%
    OCALA, FL (FHA|USDA|VA) 20 $4,050,000 $202,500 $7,059 5.68%
    THE VILLAGES, FL (FHA|USDA|VA) 10 $2,980,000 $298,000 $7,180 5.41%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 5 $1,225,000 $245,000 $6,483 4.55%
    RALEIGH-CARY, NC (FHA|USDA|VA) 2 $1,090,000 $545,000 $20,203 5.81%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 2 $890,000 $445,000 $13,394 6.00%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $490,000 $245,000 $5,144 5.38%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $385,000 $385,000 $5,144 6.13%
    CLEVELAND, TN (FHA|USDA|VA) 2 $360,000 $180,000 $8,411 5.31%
    Rockingham, NC (FHA|USDA|VA) 1 $335,000 $335,000 $21,637 6.25%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $315,000 $315,000 $9,598 4.00%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $270,000 $135,000 $3,873 4.88%
    Sanford, NC (FHA|USDA|VA) 1 $265,000 $265,000 $10,322 6.63%
    SAVANNAH, GA (FHA|USDA|VA) 1 $265,000 $265,000 $11,870 5.13%
    MORRISTOWN, TN (FHA|USDA|VA) 1 $245,000 $245,000 $5,378 3.00%
    Brevard, NC (FHA|USDA|VA) 1 $215,000 $215,000 $10,646 6.25%
    GAINESVILLE, FL (FHA|USDA|VA) 1 $105,000 $105,000 $5,067 7.00%
    Mortgage Financial Group's top markets include Orlando, Greensboro, Winston, Ocala, and The Villages 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.

    Piedmont Federal Savings Bank
    Similarity Rank: 128
    Suncoast Credit Union
    Similarity Rank: 602
    INSIGHT
    Similarity Rank: 780
    CAMPUS USA
    Similarity Rank: 1008
    TrustCo Bank
    Similarity Rank: 1008
    ADDITION FINANCIAL
    Similarity Rank: 1170
    FLORIDA
    Similarity Rank: 1260
    SPACE COAST Credit Union
    Similarity Rank: 1400
    Citizens First Bank
    Similarity Rank: 1644
    Shea Mortgage Inc.
    Similarity Rank: 1700

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 158 $35,490,000 $224,620 $5,711 4.95%
    FHA 52 $11,870,000 $228,269 $10,461 5.22%
    VA 20 $5,660,000 $283,000 $9,818 5.07%
    USDA 14 $3,350,000 $239,286 $8,369 4.86%

    For 2022, Mortgage Financial Group's most frequently originated type of loan was Conventional, with 158 originations. Their 2nd most popular type was FHA, with 52 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 201 $47,365,000 $235,647 $7,554 5.13%
    Cash Out Refi 34 $6,850,000 $201,471 $6,085 4.63%
    Refi 9 $2,155,000 $239,444 $3,834 3.86%

    For 2022, Mortgage Financial Group's most frequently cited loan purpose was Home Purchase, with 201 originations. The 2nd most popular reason was Cash Out Refi, with 34 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 237 $55,385,000 $233,692 $7,317 5.04%
    15 Year 5 $635,000 $127,000 $3,803 4.18%
    20 Year 2 $350,000 $175,000 $3,314 4.44%

    For 2022, Mortgage Financial Group's most frequently cited loan duration was 30 Year, with 237 originations. The 2nd most popular length was 15 Year, with 5 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $3k-4k 73 $15,305,000 $209,658
    $2k-3k 62 $12,300,000 $198,387
    $1k-2k 40 $8,460,000 $211,500
    $5k+ 28 $10,370,000 $370,357
    $4k-5k 26 $6,410,000 $246,538
    $<1k 15 $3,525,000 $235,000

    Mortgage Financial Group's average total fees were $7,317, while their most frequently occuring range of origination fees (closing costs) were in the $3k-4k bucket, with 73 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 79 $17,525,000 $221,835
    4-5% 65 $16,305,000 $250,846
    3-4% 50 $10,380,000 $207,600
    6-7% 39 $9,575,000 $245,513
    7-8% 7 $1,575,000 $225,000
    2.5-3% 4 $1,010,000 $252,500

    During 2022, Mortgage Financial Group's average interest rate for loans was 5.04%, while their most frequently originated rate bucket for loans was 5-6%, with 79 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 132 $34,760,000 $263,333 $7,894 4.94%
    $100k-200k 95 $14,315,000 $150,684 $5,551 5.06%
    $400k-600k 13 $6,385,000 $491,154 $13,128 5.45%
    $100,000 or less 3 $265,000 $88,333 $4,157 4.88%
    $600k-1MM 1 $645,000 $645,000 $7,313 4.38%

    2022 saw Mortgage Financial Group place emphasis on $200k-400k loans with 132 originations, totaling $34,760,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 75 $16,105,000 $214,733 $6,926 4.82%
    $50k or less 58 $9,020,000 $155,517 $5,630 5.07%
    $75k-100k 44 $9,850,000 $223,864 $6,714 4.98%
    $100k-150k 42 $12,310,000 $293,095 $9,152 5.24%
    $150k-250k 20 $7,130,000 $356,500 $9,751 5.29%
    $250k+ 5 $1,955,000 $391,000 $7,801 4.63%

    Mortgage Financial Group lent most frequently to those with incomes in the $50k-75k range, with 75 originations. The second most popular income band? $50k or less, with 58 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 39 $8,765,000 $224,744 $6,867 4.97%
    20-30% 38 $7,880,000 $207,368 $6,356 4.76%
    45% 15 $3,015,000 $201,000 $5,680 4.72%
    39% 13 $3,415,000 $262,692 $9,323 4.94%
    41% 13 $2,855,000 $219,615 $6,929 4.96%
    49% 13 $2,815,000 $216,538 $7,719 5.23%
    <20% 12 $2,800,000 $233,333 $6,078 4.79%
    50-60% 11 $2,625,000 $238,636 $8,197 5.69%
    37% 11 $2,465,000 $224,091 $5,911 4.72%
    40% 11 $2,805,000 $255,000 $8,096 5.61%
    48% 11 $3,215,000 $292,273 $8,077 4.91%
    44% 10 $2,060,000 $206,000 $7,491 5.35%
    42% 10 $2,220,000 $222,000 $6,937 4.89%
    36% 10 $2,660,000 $266,000 $8,288 4.70%
    47% 8 $2,090,000 $261,250 $9,735 5.41%
    38% 8 $1,500,000 $187,500 $5,837 5.31%
    46% 6 $2,130,000 $355,000 $10,036 5.58%
    43% 5 $1,055,000 $211,000 $7,144 5.00%

    Mortgage Financial Group lent most frequently to those with DTI ratios of 30-36%, with 39 originations. The next most common DTI ratio? 20-30%, with 38 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 214 $49,680,000 $232,150 $7,303 5.01%
    Not provided 16 $3,410,000 $213,125 $5,665 4.80%
    Black 10 $2,330,000 $233,000 $7,065 5.35%
    Asian 3 $705,000 $235,000 $8,565 5.13%
    American Indian 1 $245,000 $245,000 $10,111 5.50%

    Approval Rates

    Total approvals of all applications
    94.24%

    Mortgage Financial Group has an average approval rate.

    Pick Rate

    Approvals leading to origination
    72.54%

    Mortgage Financial Group has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 244 $56,370,000 $231,025

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    244 $56,370,000 $231,025

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 15 $2,065,000 $137,667 $4,605 5.08%
    40-60% 23 $4,025,000 $175,000 $5,082 4.69%
    60-80% 70 $16,870,000 $241,000 $6,536 5.01%
    80-100% 132 $32,180,000 $243,788 $8,093 5.07%
    Over 100% 3 $1,125,000 $375,000 $14,956 4.63%
    Under 20% 1 $105,000 $105,000 $3,121 5.25%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    Mortgage Research Center, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    Mortgage Research Center, LLC VA mortgage Trouble during payment process 1 50.0%