Fidelity Funding Mortgage Corp. Rates, Fees & Info

Lake Mary, FL

LEI: 5493009UERHLQ7BG5D32

Tax ID: 59-3225526

4.6 stars - out of 5 stars, based on 26 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Fidelity Funding Mortgage Corp. is a smaller mortgage company specializing in Home Purchase, Refi, and Cash Out Refi loans. Fidelity Funding Mortgage Corp. has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Orlando, Port St. Lucie, Miami, Tampa, and Deltona among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Fidelity Funding Mortgage Corp. has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Fidelity Funding Mortgage Corp. is typically an average 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
    30 Year Conventional Purchase 7.08% 11/26/22
    30 Year Conventional Refi 6.85% 11/26/22
    30 Year Cash-out Refi 7.14% 11/26/22
    30 Year FHA Purchase 7.57% 11/26/22
    30 Year FHA Refi 7.16% 11/26/22
    30 Year VA Purchase 6.59% 11/26/22
    30 Year VA Refi 6.19% 11/26/22
    30 Year USDA Purchase 6.95% 11/26/22
    30 Year USDA Refi 6.91% 11/26/22
    15 Year Conventional Purchase 6.33% 11/26/22
    15 Year Conventional Refi 6.13% 11/26/22
    15 Year Cash-out Refi 6.13% 11/26/22
    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.


    Originations

    666

    Origination Dollar Volume (All Markets)

    $190,500,000
    Show all (10) awards

    Relative Rate

    Fidelity Funding Mortgage Corp.'s average 30 year fixed mortgage rate was 3.14%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.01%.

    Relative Fees (Closing Costs)

    Fidelity Funding Mortgage Corp.'s average total fees/closing costs for a 30 year fixed rate mortgage were $5,177.

    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 $4,750.

    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
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 246 $69,770,000 $283,618 $5,023 3.07%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 145 $43,395,000 $299,276 $5,364 3.05%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 70 $25,690,000 $367,000 $4,855 3.17%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 86 $23,970,000 $278,721 $4,958 3.16%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 52 $11,630,000 $223,654 $4,890 3.09%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 11 $3,175,000 $288,636 $5,968 2.85%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 13 $2,665,000 $205,000 $4,515 3.23%
    OCALA, FL (FHA|USDA|VA) 8 $1,490,000 $186,250 $5,365 3.56%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 6 $1,320,000 $220,000 $5,750 3.21%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 5 $1,255,000 $251,000 $8,742 3.15%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $1,015,000 $1,015,000 $6,945 4.50%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 5 $825,000 $165,000 $4,606 3.52%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 5 $785,000 $157,000 $2,983 3.05%
    TALLAHASSEE, FL (FHA|USDA|VA) 2 $710,000 $355,000 $4,679 3.00%
    Key West, FL (FHA|USDA|VA) 1 $625,000 $625,000 $16,182 4.13%
    JACKSONVILLE, FL (FHA|USDA|VA) 2 $590,000 $295,000 $6,544 5.69%
    Okeechobee, FL (FHA|USDA|VA) 3 $575,000 $191,667 $5,136 3.33%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $370,000 $185,000 $3,469 2.88%
    THE VILLAGES, FL (FHA|USDA|VA) 2 $350,000 $175,000 $3,910 2.75%
    GAINESVILLE, FL (FHA|USDA|VA) 1 $295,000 $295,000 $5,053 3.25%
    Fidelity Funding Mortgage Corp.'s top markets include Orlando, Port St. Lucie, Miami, Tampa, and Deltona among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against FIDELITY FUNDING MORTGAGE CORP. based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    DADE COUNTY FEDERAL CREDIT UNION
    Similarity Rank: 167
    POWER FINANCIAL
    Similarity Rank: 768
    LAUNCH FEDERAL CREDIT UNION
    Similarity Rank: 1672
    Citizens First Bank
    Similarity Rank: 1696
    We Florida Financial
    Similarity Rank: 1770
    SAN ANTONIO CITIZENS
    Similarity Rank: 1792
    RAILROAD & INDUSTRIAL
    Similarity Rank: 1974
    AMERANT BANK, NATIONAL ASSOCIATION
    Similarity Rank: 2134
    MIAMI FIREFIGHTERS FCU
    Similarity Rank: 2205
    Brannen Bank
    Similarity Rank: 2802

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 522 $152,910,000 $292,931 $4,465 3.19%
    FHA 86 $21,360,000 $248,372 $7,560 2.92%
    VA 40 $12,110,000 $302,750 $7,812 2.64%
    USDA 18 $4,120,000 $228,889 $5,815 2.78%

    For 2021, Fidelity Funding Mortgage Corp.'s most frequently originated type of loan was Conventional, with 522 originations. Their 2nd most popular type was FHA, with 86 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 383 $112,315,000 $293,251 $5,557 3.16%
    Refi 149 $39,005,000 $261,779 $3,927 2.87%
    Cash Out Refi 131 $38,565,000 $294,389 $5,092 3.25%
    Home Improvement 3 $615,000 $205,000 $5,891 2.79%

    For 2021, Fidelity Funding Mortgage Corp.'s most frequently cited loan purpose was Home Purchase, with 383 originations. The 2nd most popular reason was Refi, with 149 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 631 $181,575,000 $287,758 $5,177 3.14%
    15 Year 28 $7,230,000 $258,214 $3,896 2.53%
    Other 4 $790,000 $197,500 $3,150 3.09%
    20 Year 3 $905,000 $301,667 $3,319 2.46%

    For 2021, Fidelity Funding Mortgage Corp.'s most frequently cited loan duration was 30 Year, with 631 originations. The 2nd most popular length was 15 Year, with 28 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 407 $101,765,000 $250,037
    $<1k 149 $44,405,000 $298,020
    $2k-3k 47 $12,285,000 $261,383
    $5k+ 29 $19,285,000 $665,000
    $3k-4k 27 $10,885,000 $403,148
    $4k-5k 7 $1,875,000 $267,857

    Fidelity Funding Mortgage Corp.'s average total fees were $5,177, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 407 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 288 $90,340,000 $313,681
    3-4% 272 $70,040,000 $257,500
    <2.5% 65 $18,455,000 $283,923
    4-5% 30 $8,520,000 $284,000
    5-6% 8 $2,160,000 $270,000
    6-7% 2 $750,000 $375,000
    7-8% 1 $235,000 $235,000

    During 2021, Fidelity Funding Mortgage Corp.'s average interest rate for loans was 3.14%, while their most frequently originated rate bucket for loans was 2.5-3%, with 288 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 376 $105,230,000 $279,867 $5,193 3.07%
    $100k-200k 192 $30,660,000 $159,688 $3,819 3.19%
    $400k-600k 68 $32,420,000 $476,765 $6,145 3.10%
    $100,000 or less 15 $1,275,000 $85,000 $3,122 3.26%
    $1MM+ 10 $17,120,000 $1,712,000 $17,422 3.13%
    $600k-1MM 5 $3,795,000 $759,000 $14,647 2.93%

    2021 saw Fidelity Funding Mortgage Corp. place emphasis on $200k-400k loans with 376 originations, totaling $105,230,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 177 $41,205,000 $232,797 $4,956 3.07%
    $100k-150k 138 $41,310,000 $299,348 $5,163 3.24%
    $75k-100k 125 $34,065,000 $272,520 $5,019 3.11%
    $50k or less 99 $17,235,000 $174,091 $4,184 3.05%
    $150k-250k 72 $25,120,000 $348,889 $5,405 3.12%
    $250k+ 45 $28,635,000 $636,333 $7,595 3.19%

    Fidelity Funding Mortgage Corp. lent most frequently to those with incomes in the $50k-75k range, with 177 originations. The second most popular income band? $100k-150k, with 138 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 114 $31,130,000 $273,070 $4,652 3.14%
    20-30% 110 $32,320,000 $293,818 $4,607 3.09%
    44% 41 $15,625,000 $381,098 $6,623 3.17%
    43% 35 $9,215,000 $263,286 $4,478 3.23%
    <20% 33 $9,045,000 $274,091 $4,159 3.09%
    38% 31 $9,045,000 $291,774 $5,423 3.19%
    50-60% 30 $7,910,000 $263,667 $8,170 2.74%
    42% 30 $7,890,000 $263,000 $5,582 3.19%
    40% 28 $7,990,000 $285,357 $5,267 3.13%
    39% 27 $7,665,000 $283,889 $5,177 3.26%
    41% 27 $9,285,000 $343,889 $4,946 3.06%
    36% 24 $5,600,000 $233,333 $4,570 3.27%
    46% 24 $7,350,000 $306,250 $4,822 3.15%
    48% 24 $6,970,000 $290,417 $4,833 2.98%
    49% 24 $6,060,000 $252,500 $5,965 3.06%
    37% 23 $5,435,000 $236,304 $4,782 3.09%
    45% 18 $4,680,000 $260,000 $4,480 3.28%
    47% 12 $4,020,000 $335,000 $6,603 3.23%

    Fidelity Funding Mortgage Corp. lent most frequently to those with DTI ratios of 30-36%, with 114 originations. The next most common DTI ratio? 20-30%, with 110 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 576 $165,520,000 $287,361 $5,164 3.10%
    Not provided 33 $10,095,000 $305,909 $5,020 3.07%
    Black 37 $9,815,000 $265,270 $5,187 3.34%
    Asian 15 $3,505,000 $233,667 $3,158 2.97%
    American Indian 5 $1,565,000 $313,000 $3,741 2.90%

    Approval Rates

    Total approvals of all applications
    95.82%

    Fidelity Funding Mortgage Corp. has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    62.16%

    Fidelity Funding Mortgage Corp. 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 666 $190,500,000 $286,036

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    666 $190,500,000 $286,036

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 23 $3,915,000 $170,217 $3,746 3.00%
    40-60% 80 $24,160,000 $302,000 $4,778 2.95%
    60-80% 265 $74,645,000 $281,679 $4,532 3.18%
    80-100% 288 $83,650,000 $290,451 $5,502 3.11%
    Over 100% 10 $4,130,000 $413,000 $14,417 2.69%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Fidelity Direct Mortgage, LLC FHA mortgage Closing on a mortgage 2 100.0%