Florida Mortgage Rates, Fees & Info
Gainesville, FLLEI: 5493006ZBGVXBAMCRG16
Tax ID: 59-0773154
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Florida is a smaller mortgage company specializing in Home Purchase loans. Florida has a high proportion of conventional loans. Their top markets by origination volume include: Ocala, Gainesville, Deltona, Lake City, and Homosassa Springs among others. We have data for 16 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 11/21/24 |
| 30 Year Conventional Purchase | 6.93% | 11/21/24 |
| 30 Year Conventional Refi | 6.77% | 11/21/24 |
| 30 Year Cash-out Refi | 7.14% | 11/21/24 |
| 30 Year FHA Purchase | 8.29% | 11/21/24 |
| 30 Year FHA Refi | 6.27% | 11/21/24 |
| 30 Year VA Purchase | 6.27% | 11/21/24 |
| 30 Year USDA Purchase | 7.08% | 11/21/24 |
| 15 Year Conventional Purchase | 5.88% | 11/21/24 |
| 15 Year Conventional Refi | 5.97% | 11/21/24 |
| 15 Year Cash-out Refi | 5.97% | 11/21/24 |
| 15 Year FHA Purchase | 6.75% | 11/21/24 |
| 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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This is not an official calculator from Florida. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
897Origination Dollar Volume (All Markets)
$65,095,000Top 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 | $23,290,000 | $68,905 | $3,132 | 5.76% |
| GAINESVILLE, FL (FHA|USDA|VA) | 284 | $21,630,000 | $76,162 | $3,482 | 5.67% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 79 | $7,065,000 | $89,430 | $3,717 | 5.46% |
| Lake City, FL (FHA|USDA|VA) | 52 | $3,270,000 | $62,885 | $3,230 | 5.77% |
| Outside of Metro Areas | 56 | $3,130,000 | $55,893 | $2,994 | 6.36% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 24 | $1,780,000 | $74,167 | $3,605 | 5.95% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 22 | $1,570,000 | $71,364 | $4,413 | 6.33% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 10 | $1,040,000 | $104,000 | $3,462 | 6.39% |
| Palatka, FL (FHA|USDA|VA) | 11 | $705,000 | $64,091 | $4,234 | 5.83% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 6 | $580,000 | $96,667 | $3,633 | 5.57% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 3 | $445,000 | $148,333 | $3,793 | 4.79% |
| THE VILLAGES, FL (FHA|USDA|VA) | 7 | $375,000 | $53,571 | $3,184 | 5.66% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $70,000 | $35,000 | $0 | 5.07% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 5.00% |
| Arcadia, FL (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 8.63% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 8.63% |
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: 60
Similarity Rank: 192
Similarity Rank: 531
Similarity Rank: 636
Similarity Rank: 754
Similarity Rank: 924
Similarity Rank: 988
Similarity Rank: 1023
Similarity Rank: 1272
Similarity Rank: 1330
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 501 | $21,135,000 | $42,186 | n/a | 5.88% |
| Conventional | 396 | $43,960,000 | $111,010 | $3,328 | 5.63% |
For 2018, Florida's most frequently originated type of loan was HELOC, with 501 originations. Their 2nd most popular type was Conventional, with 396 originations.
Loan Reason
For 2018, Florida's most frequently cited loan purpose was Other, with 300 originations. The 2nd most popular reason was Home Purchase, with 209 originations.
Loan Duration/Length
For 2018, Florida's most frequently cited loan duration was Other, with 428 originations. The 2nd most popular length was 30 Year, with 218 originations.
Origination Fees/Closing Costs
Florida's average total fees were $3,905, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 269 originations.
Interest Rates
During 2018, Florida's average interest rate for loans was 5.15%, while their most frequently originated rate bucket for loans was 4-5%, with 309 originations.
Loan Sizing
2018 saw Florida place emphasis on $100,000 or less loans with 675 originations, totaling $29,125,000 in origination value.
Applicant Income
Florida lent most frequently to those with incomes in the $50k or less range, with 284 originations. The second most popular income band? $50k-75k, with 244 originations.
Applicant Debt to Income Ratio
Florida lent most frequently to those with DTI ratios of 30-36%, with 206 originations. The next most common DTI ratio? 20-30%, with 200 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications71.46%
Florida has a below average approval rate.
Pick Rate
Approvals leading to origination59.64%
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 | 897 | $65,095,000 | $72,570 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 113 | $5,725,000 | $50,664 |
| Single Family (1-4 Units):Site-Built | 784 | $59,370,000 | $75,727 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FLORIDA HOME TRUST MORTGAGE | Conventional home mortgage | Trouble during payment process | 1 | 100.0% |