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 and Home Purchase loans. Florida has a high proportion of conventional loans. Their top markets by origination volume include: Ocala, Gainesville, Tampa, Deltona, and Lake City among others. We have data for 22 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% 4/14/24
    30 Year Conventional Purchase 6.93% 4/14/24
    30 Year Conventional Refi 6.77% 4/14/24
    30 Year Cash-out Refi 7.14% 4/14/24
    30 Year FHA Purchase 8.29% 4/14/24
    30 Year FHA Refi 6.27% 4/14/24
    30 Year VA Purchase 6.27% 4/14/24
    30 Year USDA Purchase 7.08% 4/14/24
    15 Year Conventional Purchase 5.88% 4/14/24
    15 Year Conventional Refi 5.97% 4/14/24
    15 Year Cash-out Refi 5.97% 4/14/24
    15 Year FHA Purchase 6.75% 4/14/24
    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

    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

    1,427

    Origination Dollar Volume (All Markets)

    $156,445,000

    Awards

    FLORIDA 30 Year Conventional Loans silver
    Show all (1) 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) 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.

    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.

    SHELTER MORTGAGE COMPANY, L.L.C.
    Similarity Rank: 893
    LAUNCH FEDERAL CREDIT UNION
    Similarity Rank: 1672
    SAN ANTONIO CITIZENS
    Similarity Rank: 1792
    RAILROAD & INDUSTRIAL
    Similarity Rank: 1974
    Citizens First Bank
    Similarity Rank: 2128
    Brannen Bank
    Similarity Rank: 3258
    Patriot Lending Services, Inc.
    Similarity Rank: 3294
    INSIGHT
    Similarity Rank: 3809
    Beach Community Mortgage Services, Inc.
    Similarity Rank: 4085
    JAX
    Similarity Rank: 4158

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 799 $50,555,000 $63,273 n/a 2.31%
    Conventional 628 $105,890,000 $168,615 $3,844 3.81%

    For 2021, Florida's most frequently originated type of loan was HELOC, with 799 originations. Their 2nd most popular type was Conventional, with 628 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Florida's most frequently cited loan purpose was Home Improvement, with 423 originations. The 2nd most popular reason was 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 2021, Florida's most frequently cited loan duration was 20 Year, with 687 originations. The 2nd most popular length was 30 Year, with 340 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost 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 14 $2,630,000 $187,857
    $5k+ 5 $1,305,000 $261,000
    $4k-5k 2 $440,000 $220,000

    Florida's average total fees were $4,066, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.77%, while their most frequently originated rate bucket for loans was <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 or Islander 2 $100,000 $50,000 $0 2.75%

    Approval Rates

    Total approvals of all applications
    81.08%

    Florida has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    18.29%

    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%