Florida Mortgage Rates, Fees & Info
Gainesville, FLLEI: 5493006ZBGVXBAMCRG16
Tax ID: 59-0773154
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Mortgage Data
Review & Overview
Florida is a smaller mortgage company specializing in Other, Home Improvement, and Home Purchase loans. Florida has a high proportion of conventional loans. Their top markets by origination volume include: Ocala, Gainesville, Deltona, Tampa, and Lake City among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)Florida has a below 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 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 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 12/16/24 |
| 30 Year Conventional Purchase | 6.93% | 12/16/24 |
| 30 Year Conventional Refi | 6.77% | 12/16/24 |
| 30 Year Cash-out Refi | 7.14% | 12/16/24 |
| 30 Year FHA Purchase | 8.29% | 12/16/24 |
| 30 Year FHA Refi | 6.27% | 12/16/24 |
| 30 Year VA Purchase | 6.27% | 12/16/24 |
| 30 Year USDA Purchase | 7.08% | 12/16/24 |
| 15 Year Conventional Purchase | 5.88% | 12/16/24 |
| 15 Year Conventional Refi | 5.97% | 12/16/24 |
| 15 Year Cash-out Refi | 5.97% | 12/16/24 |
| 15 Year FHA Purchase | 6.75% | 12/16/24 |
| 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. | ||
Florida Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
877Origination Dollar Volume (All Markets)
$80,565,000Awards
FLORIDA - 2023
FLORIDA is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Florida's average 30 year fixed mortgage rate was
6.75%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.27%.
Relative Fees (Closing Costs)
Florida's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,845.
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 |
|---|---|---|---|---|---|
| OCALA, FL (FHA|USDA|VA) | 357 | $26,005,000 | $72,843 | $2,657 | 7.89% |
| GAINESVILLE, FL (FHA|USDA|VA) | 193 | $19,225,000 | $99,611 | $3,948 | 7.73% |
| Outside of Metro Areas | 57 | $5,845,000 | $102,544 | $4,575 | 7.50% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 60 | $5,540,000 | $92,333 | $4,055 | 7.38% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 33 | $4,565,000 | $138,333 | $4,165 | 7.72% |
| Lake City, FL (FHA|USDA|VA) | 37 | $4,025,000 | $108,784 | $4,102 | 8.22% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 37 | $3,765,000 | $101,757 | $4,216 | 7.18% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 27 | $2,435,000 | $90,185 | $2,995 | 7.55% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 8 | $2,200,000 | $275,000 | $3,847 | 6.27% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 21 | $1,935,000 | $92,143 | $4,714 | 7.74% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 4 | $1,200,000 | $300,000 | $0 | 7.25% |
| Palatka, FL (FHA|USDA|VA) | 14 | $1,010,000 | $72,143 | $4,329 | 7.39% |
| THE VILLAGES, FL (FHA|USDA|VA) | 9 | $865,000 | $96,111 | $3,707 | 6.93% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 6 | $510,000 | $85,000 | $4,931 | 5.99% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 3 | $425,000 | $141,667 | $4,439 | 7.13% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $9,175 | 7.19% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $0 | 9.63% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 3 | $225,000 | $75,000 | $0 | 5.99% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 3 | $145,000 | $48,333 | $0 | 10.17% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 5.99% |
Similar Lenders
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: 48
Similarity Rank: 441
Similarity Rank: 459
Similarity Rank: 468
Similarity Rank: 552
Similarity Rank: 574
Similarity Rank: 660
Similarity Rank: 711
Similarity Rank: 741
Similarity Rank: 760
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 602 | $38,250,000 | $63,538 | n/a | 7.72% |
| Conventional | 275 | $42,315,000 | $153,873 | $3,557 | 7.69% |
For 2023, Florida's most frequently originated type of loan was HELOC, with 602 originations. Their 2nd most popular type was Conventional, with 275 originations.
Loan Reason
For 2023, Florida's most frequently cited loan purpose was Other, with 312 originations. The 2nd most popular reason was Home Improvement, with 303 originations.
Loan Duration/Length
For 2023, Florida's most frequently cited loan duration was 20 Year, with 344 originations. The 2nd most popular length was Other, with 304 originations.
Origination Fees/Closing Costs
Florida's average total fees were $4,845, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 153 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 335 | $17,915,000 | $53,478 |
| 5-6% | 292 | $27,280,000 | $93,425 |
| 6-7% | 127 | $24,215,000 | $190,669 |
| 7-8% | 122 | $10,920,000 | $89,508 |
| % | 1 | $235,000 | $235,000 |
During 2023, Florida's average interest rate for loans was 6.75%, while their most frequently originated rate bucket for loans was Over 8%, with 335 originations.
Loan Sizing
2023 saw Florida place emphasis on $100,000 or less loans with 618 originations, totaling $30,570,000 in origination value.
Applicant Income
Florida lent most frequently to those with incomes in the $50k-75k range, with 227 originations. The second most popular income band? $100k-150k, with 213 originations.
Applicant Debt to Income Ratio
Florida lent most frequently to those with DTI ratios of 30-36%, with 192 originations. The next most common DTI ratio? 20-30%, with 161 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications67.38%
Florida has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination-39.79%
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 |
|---|---|---|---|
| NA | 877 | $80,565,000 | $91,864 |