Florida Mortgage Rates, Fees & Info
Gainesville, FLLEI: 5493006ZBGVXBAMCRG16
Tax ID: 59-0773154
2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Overview
Florida is a smaller mortgage company specializing in Cash Out Refi and Home Purchase loans. Florida has a high proportion of conventional loans. Their top markets include Ocala, Gainesville, Tampa, Deltona, and Lake City among others. Florida has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Florida is typically an average fee lendor.Originations
1,427Origination Dollar Volume (All Markets)
$156,445,000Awards
FLORIDA - 2021
FLORIDA is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
Work for FLORIDA?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
Relative Rate
Florida's average 30 year fixed rate mortgage of loans were
3.77%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of 0.62%.
Relative Fees
Florida's average total fees for a 30 year fixed rate
mortgage are $4,066.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| OCALA, FL (FHA|USDA|VA) | 548 | $52,410,000 | $95,639 | $3,757 | 3.11% |
| GAINESVILLE, FL (FHA|USDA|VA) | 375 | $51,205,000 | $136,547 | $3,942 | 2.86% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 54 | $9,390,000 | $173,889 | $4,716 | 2.05% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 87 | $8,465,000 | $97,299 | $3,781 | 2.74% |
| Lake City, FL (FHA|USDA|VA) | 71 | $6,425,000 | $90,493 | $3,782 | 3.70% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 56 | $5,650,000 | $100,893 | $4,062 | 2.15% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 48 | $5,510,000 | $114,792 | $3,726 | 3.03% |
| Outside of Metro Areas | 66 | $5,490,000 | $83,182 | $3,686 | 3.76% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 49 | $4,795,000 | $97,857 | $3,906 | 3.29% |
| Palatka, FL (FHA|USDA|VA) | 16 | $1,350,000 | $84,375 | $4,438 | 2.85% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 11 | $1,025,000 | $93,182 | $2,094 | 2.29% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 8 | $1,020,000 | $127,500 | $4,113 | 1.54% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 5 | $975,000 | $195,000 | $3,235 | 1.92% |
| THE VILLAGES, FL (FHA|USDA|VA) | 9 | $825,000 | $91,667 | $4,060 | 3.54% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 6 | $600,000 | $100,000 | $0 | 0.99% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 7 | $545,000 | $77,857 | $4,393 | 1.78% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 3 | $305,000 | $101,667 | $0 | 0.99% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 3 | $135,000 | $45,000 | $4,796 | 4.50% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 2 | $120,000 | $60,000 | $0 | 0.99% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $4,744 | 5.50% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $4,026 | 5.75% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.99% |
Florida's top markets include Ocala, Gainesville, Tampa, Deltona, and Lake City among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 1,427 | $156,445,000 | $109,632 | $3,844 | 2.97% |
For the 2021 period, Florida's most frequently originated loan type of loans were Conventional, with 1,427 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Improvement | 423 | $26,845,000 | $63,463 | $0 | 2.20% |
| Other | 279 | $16,195,000 | $58,047 | $0 | 2.71% |
| Cash Out Refi | 277 | $50,215,000 | $181,282 | $3,910 | 3.59% |
| Home Purchase | 267 | $38,855,000 | $145,524 | $4,187 | 3.89% |
| Refi | 181 | $24,335,000 | $134,448 | $3,508 | 2.85% |
For the 2021, Florida's most frequently cited loan purpose of loans were Home Improvement, with 423 originations. The 2nd most popular reason of loans were Other, with 279 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20 Year | 687 | $54,215,000 | $78,916 | $3,744 | 1.52% |
| 30 Year | 340 | $58,100,000 | $170,882 | $4,066 | 3.77% |
| Other | 215 | $8,845,000 | $41,140 | $1,065 | 5.95% |
| 15 Year | 130 | $18,790,000 | $144,538 | $3,722 | 2.84% |
| 10 Year | 45 | $12,695,000 | $282,111 | $2,450 | 4.93% |
| 5 Year | 7 | $3,725,000 | $532,143 | $2,526 | 4.35% |
| 3 Year | 3 | $75,000 | $25,000 | $0 | 3.58% |
For the 2021, Florida's most frequently cited loan length of loans were 20 Year, with 687 originations. The 2nd most popular length of loans were 30 Year, with 340 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 472 | $70,860,000 | $150,127 |
| $2k-3k | 76 | $12,940,000 | $170,263 |
| $<1k | 26 | $1,200,000 | $46,154 |
| $3k-4k | 16 | $3,070,000 | $191,875 |
| $5k+ | 5 | $1,305,000 | $261,000 |
$4,066 of loans were Florida's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 472 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| <2.5% | 660 | $51,300,000 | $77,727 |
| 3-4% | 247 | $52,755,000 | $213,583 |
| 2.5-3% | 148 | $22,730,000 | $153,581 |
| 5-6% | 130 | $12,990,000 | $99,923 |
| 4-5% | 120 | $9,350,000 | $77,917 |
| 6-7% | 50 | $3,740,000 | $74,800 |
| Over 8% | 43 | $2,005,000 | $46,628 |
| 7-8% | 29 | $1,575,000 | $54,310 |
During 2021, Florida's average interest rate of loans were 3.77%, while their most frequently originated rate bucket of loans were <2.5%, with 660 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 846 | $43,980,000 | $51,986 | $3,266 | 2.92% |
| $100k-200k | 417 | $57,705,000 | $138,381 | $3,785 | 3.03% |
| $200k-400k | 147 | $37,445,000 | $254,728 | $4,607 | 3.07% |
| $400k-600k | 13 | $6,195,000 | $476,538 | $6,697 | 3.01% |
| $1MM+ | 3 | $10,365,000 | $3,455,000 | $0 | 3.65% |
| $600k-1MM | 1 | $755,000 | $755,000 | $0 | 3.50% |
2021 saw Florida place emphasis on $100,000 or less loans with 846 originations, totaling $43,980,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k-75k | 354 | $33,990,000 | $96,017 | $3,836 | 3.07% |
| $50k or less | 337 | $24,015,000 | $71,261 | $3,483 | 3.33% |
| $100k-150k | 281 | $29,255,000 | $104,110 | $3,986 | 2.72% |
| $75k-100k | 254 | $26,870,000 | $105,787 | $3,803 | 3.15% |
| $150k-250k | 132 | $19,740,000 | $149,545 | $4,909 | 2.15% |
| $250k+ | 36 | $6,110,000 | $169,722 | $5,994 | 1.46% |
Florida lent most frequently to those with incomes in the $50k-75k range, with 354 originations. The second most popular income band? $50k or less, with 337 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 298 | $28,940,000 | $97,114 | $3,691 | 2.68% |
| 30-36% | 297 | $30,605,000 | $103,047 | $3,864 | 3.04% |
| <20% | 100 | $10,330,000 | $103,300 | $3,616 | 2.96% |
| 42% | 86 | $7,430,000 | $86,395 | $4,054 | 3.15% |
| 41% | 74 | $7,040,000 | $95,135 | $3,790 | 3.19% |
| 40% | 71 | $6,815,000 | $95,986 | $4,113 | 3.34% |
| 39% | 65 | $5,865,000 | $90,231 | $3,857 | 2.94% |
| 37% | 64 | $6,380,000 | $99,688 | $4,375 | 3.12% |
| 43% | 54 | $5,710,000 | $105,741 | $3,892 | 2.84% |
| 36% | 52 | $4,510,000 | $86,731 | $3,469 | 2.74% |
| 38% | 51 | $5,945,000 | $116,569 | $3,986 | 3.30% |
| 44% | 48 | $5,370,000 | $111,875 | $4,071 | 3.33% |
| 45% | 45 | $4,325,000 | $96,111 | $3,958 | 3.01% |
| 46% | 32 | $2,860,000 | $89,375 | $4,131 | 2.65% |
| 47% | 18 | $2,460,000 | $136,667 | $3,552 | 2.65% |
| 49% | 15 | $2,475,000 | $165,000 | $4,201 | 2.85% |
| 48% | 13 | $1,855,000 | $142,692 | $3,413 | 2.42% |
| 50-60% | 8 | $900,000 | $112,500 | $0 | 0.99% |
| >60% | 1 | $55,000 | $55,000 | $0 | 0.99% |
Florida lent most frequently to those with DTI ratios of 20-30%, with 298 originations. The next most common DTI ratio? 30-36%, with 297 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 1,181 | $119,125,000 | $100,868 | $3,848 | 2.89% |
| Not applicable | 33 | $16,355,000 | $495,606 | $0 | 3.90% |
| Black | 126 | $11,710,000 | $92,937 | $3,769 | 3.63% |
| Not provided | 59 | $5,965,000 | $101,102 | $4,074 | 2.57% |
| Asian | 18 | $2,600,000 | $144,444 | $3,567 | 3.11% |
| American Indian | 7 | $475,000 | $67,857 | $5,707 | 3.57% |
| Other Pacific Islander | 1 | $115,000 | $115,000 | $4,147 | 5.63% |
| Native Hawaiian | 2 | $100,000 | $50,000 | $0 | 2.75% |
Approval Rates
Total approvals of all applications79.30%
Florida has a below average approval rate.
Pick Rate
Approvals leading to origination36.65%
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 | 1,427 | $156,445,000 | $109,632 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1,427 | $156,445,000 | $109,632 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 342 | $28,190,000 | $82,427 | $3,434 | 2.35% |
| 40-60% | 209 | $24,495,000 | $117,201 | $3,565 | 2.84% |
| 60-80% | 300 | $55,700,000 | $185,667 | $3,893 | 3.48% |
| 80-100% | 170 | $29,760,000 | $175,059 | $4,240 | 4.41% |
| Under 20% | 406 | $18,300,000 | $45,074 | $538 | 2.58% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Florida Pro Mortgage LLC | Other type of mortgage | Closing on a mortgage | 1 | 100.0% |
