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

2021 Data | 2020 Data | 2019 Data | 2018 Data


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 include Orlando, Port St. Lucie, Miami, Tampa, and Deltona among others. Fidelity Funding Mortgage Corp. has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Fidelity Funding Mortgage Corp. is typically an average fee lendor.


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 rate mortgage of loans were 3.14%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.01%.

Relative Fees

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

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

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.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average 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 the 2021 period, Fidelity Funding Mortgage Corp.'s most frequently originated loan type of loans were Conventional, with 522 originations. Their 2nd most popular type is FHA, with 86 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average 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 the 2021, Fidelity Funding Mortgage Corp.'s most frequently cited loan purpose of loans were Home Purchase, with 383 originations. The 2nd most popular reason of loans were 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 the 2021, Fidelity Funding Mortgage Corp.'s most frequently cited loan length of loans were 30 Year, with 631 originations. The 2nd most popular length of loans were 15 Year, with 28 originations.

Origination Fees

Origination Fee 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
$3k-4k 34 $12,760,000 $375,294
$5k+ 29 $19,285,000 $665,000

$5,177 of loans were Fidelity Funding Mortgage Corp.'s average total fees, while their most frequently occuring range of origination fees 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 of loans were 3.14%, while their most frequently originated rate bucket of loans were 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
96.42%

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
67.56%

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%