Florida Mortgage Rates, Fees & Info

Gainesville, FL

LEI: 5493006ZBGVXBAMCRG16

Tax ID: 59-0773154

5 stars - Updated: 4/5/25 - out of 5 stars, based on 31 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • 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, Orlando, Deltona, and Jacksonville among others. We have data for 22 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 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 about average 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.72% 4/5/25
    30 Year Conventional Purchase 6.32% 4/5/25
    30 Year Conventional Refi 6.29% 4/5/25
    30 Year Cash-out Refi 6.44% 4/5/25
    30 Year FHA Purchase 7.41% 4/5/25
    30 Year FHA Refi 6.87% 4/5/25
    30 Year VA Purchase 7.32% 4/5/25
    30 Year USDA Purchase 6.98% 4/5/25
    15 Year Conventional Purchase 6.49% 4/5/25
    15 Year Conventional Refi 6.04% 4/5/25
    15 Year Cash-out Refi 6.04% 4/5/25
    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






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

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    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    954

    Origination Dollar Volume (All Markets)

    $99,970,000

    Awards

    FLORIDA 30 Year Conventional Loans silver FLORIDA 30 Year Conventional Loans gold FLORIDA 30 Year Conventional Loans silver
    Show all (3) awards

    Relative Rate

    Florida's average 30 year fixed mortgage rate was 6.64%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of 0.09%.

    Relative Fees (Closing Costs)

    Florida's average total fees/closing costs for a 30 year fixed rate mortgage were $4,740.

    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 $8,356.

    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) 338 $29,440,000 $87,101 $3,404 7.35%
    GAINESVILLE, FL (FHA|USDA|VA) 204 $22,860,000 $112,059 $4,312 7.64%
    Outside of Metro Areas 68 $6,720,000 $98,824 $4,012 7.61%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 47 $6,525,000 $138,830 $4,045 7.17%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 62 $6,140,000 $99,032 $2,763 7.15%
    JACKSONVILLE, FL (FHA|USDA|VA) 34 $5,770,000 $169,706 $4,177 7.59%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 37 $5,455,000 $147,432 $4,672 7.06%
    THE VILLAGES, FL (FHA|USDA|VA) 27 $4,825,000 $178,704 $4,366 7.01%
    Lake City, FL (FHA|USDA|VA) 45 $3,565,000 $79,222 $3,215 8.21%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 31 $3,175,000 $102,419 $3,192 7.48%
    Palatka, FL (FHA|USDA|VA) 21 $2,175,000 $103,571 $4,337 7.13%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 11 $965,000 $87,727 $0 6.30%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 8 $770,000 $96,250 $0 6.74%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 5 $645,000 $129,000 $0 5.99%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 4 $240,000 $60,000 $4,290 8.91%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 4 $170,000 $42,500 $0 6.62%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 3 $135,000 $45,000 $0 10.38%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $105,000 $105,000 $0 8.75%
    TALLAHASSEE, FL (FHA|USDA|VA) 1 $95,000 $95,000 $0 10.00%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $85,000 $85,000 $0 5.99%
    SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $55,000 $55,000 $0 7.99%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $55,000 $55,000 $0 5.99%
    Florida's top markets include Ocala, Gainesville, Orlando, Deltona, and Jacksonville among others.

    Their top states include:
  • Florida (FHA|USDA|VA)

    • 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.

    SAN ANTONIO CITIZENS
    Similarity Rank: 156
    JAX
    Similarity Rank: 540
    Shea Mortgage Inc.
    Similarity Rank: 572
    INSIGHT
    Similarity Rank: 721
    First Home Bank
    Similarity Rank: 784
    FLORIDA
    Similarity Rank: 792
    COMMUNITY FIRST CREDIT UNION OF FLO
    Similarity Rank: 1102
    Citizens First Bank
    Similarity Rank: 1125
    ADDITION FINANCIAL
    Similarity Rank: 1155
    Grow Financial Federal Credit Union
    Similarity Rank: 1170

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 660 $46,550,000 $70,530 n/a 7.35%
    Conventional 294 $53,420,000 $181,701 $3,693 7.60%

    For 2024, Florida's most frequently originated type of loan was HELOC, with 660 originations. Their 2nd most popular type was Conventional, with 294 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 360 $24,240,000 $67,333 $10 7.82%
    Home Improvement 297 $20,365,000 $68,569 $0 7.42%
    Home Purchase 195 $39,815,000 $204,179 $5,428 6.67%
    Cash Out Refi 90 $14,290,000 $158,778 $3,752 7.57%
    Refi 12 $1,260,000 $105,000 $3,056 7.21%

    For 2024, Florida's most frequently cited loan purpose was Other, with 360 originations. The 2nd most popular reason was Home Improvement, with 297 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 362 $31,810,000 $87,873 $2,800 6.24%
    Other 332 $17,830,000 $53,705 $498 8.75%
    30 Year 150 $34,660,000 $231,067 $4,740 6.64%
    10 Year 39 $3,415,000 $87,564 $185 9.44%
    30+ year 39 $9,695,000 $248,590 $6,399 6.54%
    15 Year 22 $2,150,000 $97,727 $1,818 9.78%
    5 Year 10 $410,000 $41,000 $185 8.62%

    For 2024, Florida's most frequently cited loan duration was 20 Year, with 362 originations. The 2nd most popular length was Other, with 332 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 181 $41,235,000 $227,818
    $<1k 78 $5,040,000 $64,615
    $2k-3k 18 $3,200,000 $177,778
    $3k-4k 5 $1,115,000 $223,000
    $4k-5k 5 $1,445,000 $289,000

    Florida's average total fees were $4,740, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 181 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 355 $34,695,000 $97,732
    Over 8% 206 $12,640,000 $61,359
    6-7% 204 $39,970,000 $195,931
    7-8% 189 $12,665,000 $67,011

    During 2024, Florida's average interest rate for loans was 6.64%, while their most frequently originated rate bucket for loans was 5-6%, with 355 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 639 $33,735,000 $52,793 $1,122 7.79%
    $100k-200k 196 $26,680,000 $136,122 $4,154 6.87%
    $200k-400k 100 $26,830,000 $268,300 $5,524 6.38%
    $400k-600k 10 $4,650,000 $465,000 $5,926 6.40%
    $600k-1MM 7 $5,385,000 $769,286 $7,483 6.42%
    $1MM+ 2 $2,690,000 $1,345,000 $9,899 6.06%

    2024 saw Florida place emphasis on $100,000 or less loans with 639 originations, totaling $33,735,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 266 $25,440,000 $95,639 $3,444 7.50%
    $50k-75k 200 $15,280,000 $76,400 $3,440 7.78%
    $75k-100k 193 $17,935,000 $92,927 $3,704 7.34%
    $150k-250k 147 $23,105,000 $157,177 $3,749 7.20%
    $50k or less 113 $7,045,000 $62,345 $3,421 7.34%
    $250k+ 35 $11,165,000 $319,000 $6,138 6.53%

    Florida lent most frequently to those with incomes in the $100k-150k range, with 266 originations. The second most popular income band? $50k-75k, with 200 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 234 $23,080,000 $98,632 $3,930 7.46%
    20-30% 176 $19,080,000 $108,409 $3,850 7.34%
    42% 94 $9,620,000 $102,340 $2,705 7.54%
    43% 64 $5,260,000 $82,188 $2,570 7.55%
    39% 59 $5,995,000 $101,610 $4,479 7.33%
    41% 48 $5,430,000 $113,125 $3,378 7.39%
    38% 48 $4,310,000 $89,792 $3,941 7.05%
    37% 46 $5,520,000 $120,000 $3,597 7.92%
    40% 43 $5,335,000 $124,070 $4,222 7.37%
    <20% 38 $5,730,000 $150,789 $4,550 7.62%
    36% 36 $3,400,000 $94,444 $3,122 7.41%
    44% 19 $1,735,000 $91,316 $1,538 7.88%
    45% 19 $1,245,000 $65,526 $1,860 7.32%
    46% 12 $630,000 $52,500 $0 6.16%
    47% 6 $1,260,000 $210,000 $5,713 7.60%
    49% 5 $915,000 $183,000 $5,128 6.47%
    48% 2 $130,000 $65,000 $3,885 6.56%
    50-60% 1 $115,000 $115,000 $0 14.25%
    >60% 1 $35,000 $35,000 $0 5.99%

    Florida lent most frequently to those with DTI ratios of 30-36%, with 234 originations. The next most common DTI ratio? 20-30%, with 176 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 754 $78,100,000 $103,581 $3,690 7.38%
    Not provided 92 $10,340,000 $112,391 $3,614 7.23%
    Black 81 $5,935,000 $73,272 $2,538 8.17%
    Asian 12 $2,630,000 $219,167 $6,274 7.71%
    American Indian 9 $1,505,000 $167,222 $4,879 7.18%
    Not applicable 2 $1,120,000 $560,000 $0 6.83%
    Other Asian 2 $210,000 $105,000 $0 5.99%
    Filipino 1 $85,000 $85,000 $0 6.99%
    Asian Indian 1 $45,000 $45,000 $0 7.99%

    Approval Rates

    Total approvals of all applications
    69.53%

    Florida has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    -33.23%

    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 954 $99,970,000 $104,790

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    954 $99,970,000 $104,790

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 294 $26,120,000 $88,844 $1,796 7.44%
    40-60% 81 $14,985,000 $185,000 $4,072 7.23%
    60-80% 72 $17,750,000 $246,528 $5,445 6.71%
    80-100% 76 $20,430,000 $268,816 $5,226 6.47%
    Under 20% 431 $20,685,000 $47,993 $265 7.74%