Florida Mortgage Rates, Fees & Info

Gainesville, FL

LEI: 5493006ZBGVXBAMCRG16

Tax ID: 59-0773154

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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 Cash Out Refi, Home Purchase, and Refi loans. Florida has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Ocala, Gainesville, Deltona, Lake City, 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 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) 6.27% 11/22/24
    30 Year Conventional Purchase 6.93% 11/22/24
    30 Year Conventional Refi 6.77% 11/22/24
    30 Year Cash-out Refi 7.14% 11/22/24
    30 Year FHA Purchase 8.29% 11/22/24
    30 Year FHA Refi 6.27% 11/22/24
    30 Year VA Purchase 6.27% 11/22/24
    30 Year USDA Purchase 7.08% 11/22/24
    15 Year Conventional Purchase 5.88% 11/22/24
    15 Year Conventional Refi 5.97% 11/22/24
    15 Year Cash-out Refi 5.97% 11/22/24
    15 Year FHA Purchase 6.75% 11/22/24
    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






    Your Estimates

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


    Originations

    1,504

    Origination Dollar Volume (All Markets)

    $165,630,000

    Awards

    FLORIDA 30 Year Conventional Loans gold FLORIDA 30 Year Conventional Loans bronze FLORIDA 30 Year Conventional Loans bronze FLORIDA 30 Year Conventional Loans bronze
    Show all (4) awards

    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) 590 $59,130,000 $100,220 $3,417 3.61%
    GAINESVILLE, FL (FHA|USDA|VA) 424 $50,290,000 $118,608 $3,612 3.41%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 105 $14,575,000 $138,810 $3,801 3.05%
    Outside of Metro Areas 78 $7,340,000 $94,103 $3,343 4.81%
    Lake City, FL (FHA|USDA|VA) 73 $6,265,000 $85,822 $3,292 4.09%
    JACKSONVILLE, FL (FHA|USDA|VA) 43 $5,805,000 $135,000 $3,266 3.23%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 54 $5,460,000 $101,111 $3,269 3.65%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 47 $4,685,000 $99,681 $3,898 2.92%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 32 $4,120,000 $128,750 $3,327 3.18%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 5 $2,135,000 $427,000 $4,351 3.33%
    THE VILLAGES, FL (FHA|USDA|VA) 13 $1,795,000 $138,077 $2,902 3.83%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 11 $1,135,000 $103,182 $2,725 2.35%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 5 $795,000 $159,000 $4,419 2.60%
    Palatka, FL (FHA|USDA|VA) 8 $540,000 $67,500 $2,587 4.31%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 7 $515,000 $73,571 $2,223 3.14%
    TALLAHASSEE, FL (FHA|USDA|VA) 3 $505,000 $168,333 $3,780 4.42%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $265,000 $265,000 $4,532 5.12%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $95,000 $95,000 $3,434 3.00%
    PUNTA GORDA, FL (FHA|USDA|VA) 2 $90,000 $45,000 $0 0.99%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.99%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $25,000 $25,000 $0 0.99%
    Florida's top markets include Ocala, Gainesville, Deltona, Lake City, 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.

    METROPLEX MORTGAGE SERVICES, INC.
    Similarity Rank: 496
    THE MONEY HOUSE INC.
    Similarity Rank: 946
    LAUNCH FEDERAL CREDIT UNION
    Similarity Rank: 1170
    SAN ANTONIO CITIZENS
    Similarity Rank: 1170
    Midwest Mortgage Associates Corporation
    Similarity Rank: 1518
    RAILROAD & INDUSTRIAL
    Similarity Rank: 2045
    Citizens First Bank
    Similarity Rank: 2080
    Kwik Mortgage Corporation
    Similarity Rank: 2492
    DEVELOPER'S MORTGAGE COMPANY
    Similarity Rank: 2580
    SHELTER MORTGAGE COMPANY, L.L.C.
    Similarity Rank: 2921

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 853 $131,115,000 $153,710 $3,482 3.87%
    HELOC 650 $34,380,000 $52,892 n/a 3.11%
    FHA 1 $135,000 $135,000 $5,484 5.00%

    For 2020, Florida's most frequently originated type of loan was Conventional, with 853 originations. Their 2nd most popular type was HELOC, with 650 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 341 $49,825,000 $146,114 $3,465 3.80%
    Home Improvement 333 $16,575,000 $49,775 $0 2.88%
    Home Purchase 322 $45,770,000 $142,143 $3,942 3.99%
    Other 281 $15,205,000 $54,110 $72 4.06%
    Refi 227 $38,255,000 $168,524 $3,361 2.86%

    For 2020, Florida's most frequently cited loan purpose was Cash Out Refi, with 341 originations. The 2nd most popular reason was Home Improvement, with 333 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 521 $90,955,000 $174,578 $3,761 3.58%
    20 Year 506 $39,330,000 $77,727 $3,423 1.99%
    Other 285 $10,855,000 $38,088 $108 6.27%
    15 Year 150 $20,840,000 $138,933 $3,290 3.21%
    10 Year 36 $3,400,000 $94,444 $2,448 4.65%
    3 Year 5 $235,000 $47,000 $0 3.25%
    5 Year 1 $15,000 $15,000 $1,966 6.00%

    For 2020, Florida's most frequently cited loan duration was 30 Year, with 521 originations. The 2nd most popular length was 20 Year, with 506 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 633 $93,965,000 $148,444
    $<1k 148 $22,910,000 $154,797
    $2k-3k 56 $10,630,000 $189,821
    $3k-4k 13 $2,405,000 $185,000
    $5k+ 3 $1,095,000 $365,000
    $4k-5k 1 $245,000 $245,000

    Florida's average total fees were $3,761, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 633 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 504 $42,330,000 $83,988
    2.5-3% 310 $56,810,000 $183,258
    5-6% 209 $16,415,000 $78,541
    3-4% 154 $26,950,000 $175,000
    4-5% 138 $12,190,000 $88,333
    6-7% 89 $6,355,000 $71,404
    Over 8% 60 $2,540,000 $42,333
    7-8% 40 $2,040,000 $51,000

    During 2020, Florida's average interest rate for loans was 3.58%, while their most frequently originated rate bucket for loans was <2.5%, with 504 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 837 $43,035,000 $51,416 $2,786 3.79%
    $100k-200k 471 $67,365,000 $143,025 $3,598 3.30%
    $200k-400k 177 $46,245,000 $261,271 $4,086 3.09%
    $400k-600k 18 $8,250,000 $458,333 $4,910 2.85%
    $600k-1MM 1 $735,000 $735,000 $4,358 4.00%

    2020 saw Florida place emphasis on $100,000 or less loans with 837 originations, totaling $43,035,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 383 $30,385,000 $79,334 $3,329 3.87%
    $50k-75k 382 $38,120,000 $99,791 $3,418 3.89%
    $100k-150k 290 $36,180,000 $124,759 $3,596 3.16%
    $75k-100k 284 $31,560,000 $111,127 $3,507 3.47%
    $150k-250k 130 $21,890,000 $168,385 $3,921 2.94%
    $250k+ 34 $7,410,000 $217,941 $3,637 2.25%

    Florida lent most frequently to those with incomes in the $50k or less range, with 383 originations. The second most popular income band? $50k-75k, with 382 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 372 $42,810,000 $115,081 $3,443 3.35%
    30-36% 302 $35,170,000 $116,457 $3,554 3.70%
    <20% 135 $17,305,000 $128,185 $3,479 3.03%
    42% 96 $8,560,000 $89,167 $3,296 3.92%
    40% 82 $7,140,000 $87,073 $3,795 3.80%
    41% 75 $6,385,000 $85,133 $3,248 3.87%
    36% 63 $5,875,000 $93,254 $3,450 3.84%
    37% 55 $5,955,000 $108,273 $3,364 3.61%
    43% 52 $6,800,000 $130,769 $4,024 3.45%
    38% 52 $5,470,000 $105,192 $3,495 4.42%
    44% 48 $4,990,000 $103,958 $3,260 2.84%
    39% 48 $5,420,000 $112,917 $3,326 3.56%
    45% 35 $3,355,000 $95,857 $3,812 3.66%
    46% 17 $2,155,000 $126,765 $3,456 3.06%
    48% 17 $2,615,000 $153,824 $3,442 3.15%
    50-60% 15 $1,165,000 $77,667 $2,145 2.92%
    47% 13 $1,845,000 $141,923 $3,864 2.48%
    49% 12 $1,820,000 $151,667 $4,057 2.62%
    >60% 4 $170,000 $42,500 $0 3.75%

    Florida lent most frequently to those with DTI ratios of 20-30%, with 372 originations. The next most common DTI ratio? 30-36%, with 302 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,331 $147,935,000 $111,146 $3,483 3.49%
    Black 106 $9,580,000 $90,377 $3,230 4.41%
    Asian 31 $4,495,000 $145,000 $3,992 2.43%
    Not provided 29 $3,065,000 $105,690 $3,864 3.89%
    American Indian 4 $370,000 $92,500 $3,727 4.31%
    Asian Indian 1 $115,000 $115,000 $4,230 4.75%
    Not applicable 1 $35,000 $35,000 $0 0.99%
    Native Hawaiian or Islander 1 $35,000 $35,000 $0 5.13%

    Approval Rates

    Total approvals of all applications
    82.32%

    Florida has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    30.78%

    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 1,504 $165,630,000 $110,126

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 141 $9,245,000 $65,567
    Single Family (1-4 Units):Site-Built 1,363 $156,385,000 $114,736

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 319 $19,755,000 $61,928 $2,044 3.33%
    40-60% 200 $21,950,000 $109,750 $3,264 3.52%
    60-80% 360 $60,580,000 $168,278 $3,627 3.40%
    80-100% 313 $51,955,000 $165,990 $3,831 4.08%
    Under 20% 308 $11,030,000 $35,812 $482 3.38%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    FLORIDA HOME TRUST MORTGAGE Conventional home mortgage Trouble during payment process 1 100.0%