Bac Florida Bank Mortgage Rates, Fees & Info
Coral Gables, FLLEI: 5493006Q0EMYD3OJ8N13
Tax ID: 59-1485307
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Mortgage Data
Review & Overview
Bac Florida Bank is a smaller bank specializing in Home Purchase loans. Bac Florida Bank has a high proportion of conventional loans. Their top markets by origination volume include: Miami, Orlando, Lakeland, Houston, and New York among others. We have data for 22 markets. (Some data included below & more in-depth data is available with an active subscription.)Bac Florida Bank 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. Bac Florida Bank 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 relatively high 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.63% | 11/17/24 |
| 30 Year Conventional Refi | 7.52% | 11/17/24 |
| 30 Year Cash-out Refi | 7.71% | 11/17/24 |
| 15 Year Conventional Purchase | 5.68% | 11/17/24 |
| 15 Year Conventional Refi | 5.68% | 11/17/24 |
| 15 Year Cash-out Refi | 5.68% | 11/17/24 |
| 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. | ||
Bac Florida Bank Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Bac Florida Bank. 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
1,010Origination Dollar Volume (All Markets)
$518,190,000Relative Rate
Bac Florida Bank's average 30 year fixed mortgage rate was
7.37%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.89%.
Relative Fees (Closing Costs)
Bac Florida Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $21,951.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
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 |
|---|---|---|---|---|---|
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 523 | $311,345,000 | $595,306 | $21,360 | 7.36% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 267 | $113,335,000 | $424,476 | $29,020 | 7.37% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 81 | $22,525,000 | $278,086 | $0 | 7.34% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 41 | $13,385,000 | $326,463 | $0 | 7.45% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 7 | $11,605,000 | $1,657,857 | $11,306 | 7.32% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 18 | $7,250,000 | $402,778 | $13,175 | 7.24% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 12 | $6,260,000 | $521,667 | $0 | 7.79% |
| Glenwood Springs, CO (FHA|USDA|VA) | 5 | $5,925,000 | $1,185,000 | $0 | 6.55% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 11 | $5,105,000 | $464,091 | $0 | 7.56% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 14 | $4,320,000 | $308,571 | $0 | 7.39% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 9 | $4,145,000 | $460,556 | $15,440 | 7.50% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $4,005,000 | $4,005,000 | $54,541 | 6.25% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 6 | $2,370,000 | $395,000 | $0 | 7.48% |
| OCALA, FL (FHA|USDA|VA) | 1 | $1,715,000 | $1,715,000 | $0 | 6.50% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 3 | $1,125,000 | $375,000 | $0 | 7.67% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 3 | $1,065,000 | $355,000 | $0 | 7.42% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 2 | $1,040,000 | $520,000 | $0 | 7.56% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $0 | 7.56% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $7,777 | 7.00% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 7.75% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 6.88% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 7.63% |
Similar Lenders
We use machine learning to identify the top lenders compared against BAC Florida Bank 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 |
|---|---|---|---|---|---|
| Conventional | 1,010 | $518,190,000 | $513,059 | $21,951 | 7.36% |
For 2023, Bac Florida Bank's most frequently originated type of loan was Conventional, with 1,010 originations.
Loan Reason
For 2023, Bac Florida Bank's most frequently cited loan purpose was Home Purchase, with 965 originations. The 2nd most popular reason was Refi, with 21 originations.
Loan Duration/Length
For 2023, Bac Florida Bank's most frequently cited loan duration was 30 Year, with 1,005 originations. The 2nd most popular length was 10 Year, with 3 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $5k+ | 69 | $63,525,000 | $920,652 |
| $4k-5k | 3 | $865,000 | $288,333 |
| $3k-4k | 1 | $255,000 | $255,000 |
Bac Florida Bank's average total fees were $21,951, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 69 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 603 | $284,315,000 | $471,501 |
| 6-7% | 338 | $196,490,000 | $581,331 |
| Over 8% | 66 | $30,500,000 | $462,121 |
| 5-6% | 3 | $6,885,000 | $2,295,000 |
During 2023, Bac Florida Bank's average interest rate for loans was 7.37%, while their most frequently originated rate bucket for loans was 7-8%, with 603 originations.
Loan Sizing
2023 saw Bac Florida Bank place emphasis on $200k-400k loans with 562 originations, totaling $162,630,000 in origination value.
Applicant Income
Bac Florida Bank lent most frequently to those with incomes in the $250k+ range, with 193 originations. The second most popular income band? $150k-250k, with 136 originations.
Applicant Debt to Income Ratio
Bac Florida Bank lent most frequently to those with DTI ratios of 20-30%, with 102 originations. The next most common DTI ratio? <20%, with 100 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.79%
Bac Florida Bank has an average approval rate.
Pick Rate
Approvals leading to origination85.94%
Bac Florida Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,010 | $518,190,000 | $513,059 |