Crossfire Financial Network Mortgage Rates, Fees & Info
HOMESTEAD, FLLEI: 54930064IXFLV6MQAL59
Tax ID: 65-0447670
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Mortgage Data
Review & Overview
Crossfire Financial Network is a smaller mortgage company specializing in Home Purchase loans. They have a a high proportion of FHA loans. Crossfire Financial Network has a high proportion of conventional loans. Their top two markets are Miami and North Port .Crossfire Financial Network 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. Crossfire Financial Network 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.
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Originations
12Origination Dollar Volume (All Markets)
$4,690,000Top 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 |
|---|---|---|---|---|---|
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 11 | $4,325,000 | $393,182 | $16,801 | 6.83% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $9,490 | 7.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against CROSSFIRE FINANCIAL NETWORK 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
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| FHA | 7 | $2,865,000 | $409,286 | $19,343 | 6.80% |
| Conventional | 5 | $1,825,000 | $365,000 | $11,779 | 6.90% |
For 2023, Crossfire Financial Network's most frequently originated type of loan was FHA, with 7 originations. Their 2nd most popular type was Conventional, with 5 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 11 | $4,325,000 | $393,182 | $16,801 | 6.83% |
| Refi | 1 | $365,000 | $365,000 | $9,490 | 7.00% |
For 2023, Crossfire Financial Network's most frequently cited loan purpose was Home Purchase, with 11 originations. The 2nd most popular reason was Refi, with 1 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 12 | $4,690,000 | $390,833 | $16,191 | 6.84% |
For 2023, Crossfire Financial Network's most frequently cited loan duration was 30 Year, with 12 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $5k+ | 11 | $4,435,000 | $403,182 |
| $1k-2k | 1 | $255,000 | $255,000 |
Crossfire Financial Network's average total fees were $16,191, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 11 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 7 | $2,485,000 | $355,000 |
| 7-8% | 4 | $1,710,000 | $427,500 |
| 5-6% | 1 | $495,000 | $495,000 |
During 2023, Crossfire Financial Network's average interest rate for loans was 6.84%, while their most frequently originated rate bucket for loans was 6-7%, with 7 originations.
Loan Sizing
2023 saw Crossfire Financial Network place emphasis on $400k-600k loans with 6 originations, totaling $2,840,000 in origination value.
Applicant Income
Crossfire Financial Network lent most frequently to those with incomes in the $100k-150k range, with 9 originations. The second most popular income band? $75k-100k, with 2 originations.
Applicant Debt to Income Ratio
Crossfire Financial Network lent most frequently to those with DTI ratios of 50-60%, with 3 originations. The next most common DTI ratio? 45%, with 2 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 10 | $3,910,000 | $391,000 | $15,652 | 6.88% |
| Black | 2 | $780,000 | $390,000 | $18,885 | 6.69% |
Approval Rates
Total approvals of all applications100.00%
Crossfire Financial Network has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination66.67%
Crossfire Financial Network 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 | 12 | $4,690,000 | $390,833 |