Florida Mortgage Rates, Fees & InfoGainesville, FL
Tax ID: 59-0773154
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewFlorida is a smaller mortgage company specializing in Home Improvement and Home Purchase loans. Florida has a high proportion of conventional loans. Their top markets by origination volume include: Ocala, Gainesville, Tampa, Deltona, and Jacksonville among others. We have data for 21 markets. (Some data included below & more in-depth data is available with an active subscription.)
Florida has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Florida is typically a low 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.
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|Simulated Rate||Simulation Date|
|Home Equity Line of Credit (HELOC)||6.27%||3/23/23|
|30 Year Conventional Purchase||6.93%||3/23/23|
|30 Year Conventional Refi||6.77%||3/23/23|
|30 Year Cash-out Refi||7.14%||3/23/23|
|30 Year FHA Purchase||8.29%||3/23/23|
|30 Year FHA Refi||6.27%||3/23/23|
|30 Year VA Purchase||6.27%||3/23/23|
|30 Year USDA Purchase||7.08%||3/23/23|
|15 Year Conventional Purchase||5.88%||3/23/23|
|15 Year Conventional Refi||5.97%||3/23/23|
|15 Year Cash-out Refi||5.97%||3/23/23|
|15 Year FHA Purchase||6.75%||3/23/23|
|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.|
Origination Dollar Volume (All Markets)$132,100,000
Florida's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.51%.
Relative Fees (Closing Costs)
Florida's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,497.
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 $4,750.
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|
|OCALA, FL (FHA|USDA|VA)||505||$40,605,000||$80,406||$3,317||5.40%|
|GAINESVILLE, FL (FHA|USDA|VA)||330||$29,980,000||$90,848||$2,913||5.24%|
|TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA)||52||$15,730,000||$302,500||$3,011||4.25%|
|DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA)||85||$7,205,000||$84,765||$3,976||5.03%|
|Outside of Metro Areas||69||$6,475,000||$93,841||$3,937||5.69%|
|JACKSONVILLE, FL (FHA|USDA|VA)||35||$6,275,000||$179,286||$4,332||5.04%|
|Lake City, FL (FHA|USDA|VA)||60||$5,890,000||$98,167||$4,970||5.25%|
|ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA)||48||$5,010,000||$104,375||$3,202||5.26%|
|HOMOSASSA SPRINGS, FL (FHA|USDA|VA)||55||$4,605,000||$83,727||$3,681||5.06%|
|Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA)||20||$2,500,000||$125,000||$2,140||4.35%|
|North Port-Sarasota-Bradenton, FL (FHA|USDA|VA)||17||$1,715,000||$100,882||$5,239||2.90%|
|THE VILLAGES, FL (FHA|USDA|VA)||15||$1,225,000||$81,667||$2,031||5.42%|
|Palatka, FL (FHA|USDA|VA)||13||$1,025,000||$78,846||$2,917||4.39%|
|CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA)||7||$1,005,000||$143,571||$6,252||4.16%|
|PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA)||8||$910,000||$113,750||$0||5.61%|
|LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA)||7||$805,000||$115,000||$4,320||4.57%|
|PORT ST. LUCIE, FL (FHA|USDA|VA)||6||$440,000||$73,333||$2,403||5.56%|
|TALLAHASSEE, FL (FHA|USDA|VA)||4||$320,000||$80,000||$0||5.65%|
|Okeechobee, FL (FHA|USDA|VA)||1||$165,000||$165,000||$4,506||3.63%|
|PUNTA GORDA, FL (FHA|USDA|VA)||2||$140,000||$70,000||$0||0.99%|
|Sebastian-Vero Beach, FL (FHA|USDA|VA)||1||$75,000||$75,000||$0||6.25%|
We use machine learning to identify the top lenders compared against FLORIDA based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 705
Similarity Rank: 1274
Similarity Rank: 1280
Similarity Rank: 1410
Similarity Rank: 1596
Similarity Rank: 1672
Similarity Rank: 2356
Similarity Rank: 2673
Similarity Rank: 2930
Similarity Rank: 3024
|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Florida's most frequently originated type of loan was HELOC, with 917 originations. Their 2nd most popular type was Conventional, with 423 originations.
For 2022, Florida's most frequently cited loan purpose was Home Improvement, with 472 originations. The 2nd most popular reason was Other, with 436 originations.
For 2022, Florida's most frequently cited loan duration was 20 Year, with 543 originations. The 2nd most popular length was Other, with 444 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Florida's average total fees were $4,497, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 250 originations.
During 2022, Florida's average interest rate for loans was 5.27%, while their most frequently originated rate bucket for loans was 4-5%, with 271 originations.
2022 saw Florida place emphasis on $100,000 or less loans with 939 originations, totaling $46,785,000 in origination value.
Florida lent most frequently to those with incomes in the $50k-75k range, with 332 originations. The second most popular income band? $100k-150k, with 289 originations.
Applicant Debt to Income Ratio
Florida lent most frequently to those with DTI ratios of 30-36%, with 274 originations. The next most common DTI ratio? 20-30%, with 237 originations.
Approval RatesTotal approvals of all applications
Florida has a below average approval rate.
Pick RateApprovals leading to origination
Florida 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|