Fidelity Funding Mortgage Corp. Rates, Fees & InfoLake Mary, FL
Tax ID: 59-3225526
Review & OverviewFidelity 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.
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|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.|
Origination Dollar Volume (All Markets)$190,500,000
Fidelity Funding Mortgage Corp.'s average 30 year fixed mortgage rate was
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.
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%|
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.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
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.
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 Length||Originations||Total Value||Average Loan||Average Fees||Average Rate|
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|
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.
|Loan Rate||Originations||Total Value||Average Loan|
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.
2021 saw Fidelity Funding Mortgage Corp. place emphasis on $200k-400k loans with 376 originations, totaling $105,230,000 in origination value.
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
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.
Approval RatesTotal approvals of all applications
Fidelity Funding Mortgage Corp. has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick RateApprovals leading to origination
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|
|Bank Name||Product||Issue||2021 CPFB Complaints||% of Total Issues|
|Fidelity Direct Mortgage, LLC||FHA mortgage||Closing on a mortgage||2||100.0%|