Fidelity Funding Mortgage Corp. Rates, Fees & Info

Lake Mary, FL

LEI: 5493009UERHLQ7BG5D32

Tax ID: 59-3225526

2.4 stars - out of 5 stars, based on 17 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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 loans. Fidelity Funding Mortgage Corp. has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 7.15% 5/28/23
    30 Year Conventional Refi 6.51% 5/28/23
    30 Year Cash-out Refi 6.96% 5/28/23
    30 Year FHA Purchase 7.40% 5/28/23
    30 Year FHA Refi 6.85% 5/28/23
    30 Year VA Purchase 6.32% 5/28/23
    30 Year VA Refi 6.01% 5/28/23
    30 Year USDA Purchase 7.03% 5/28/23
    15 Year Conventional Purchase 6.28% 5/28/23
    15 Year Conventional Refi 6.24% 5/28/23
    15 Year Cash-out Refi 6.24% 5/28/23
    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.

    Fidelity Funding Mortgage Corp. Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Fidelity Funding Mortgage Corp.. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

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


    Originations

    296

    Origination Dollar Volume (All Markets)

    $106,220,000
    Show all (10) awards

    Relative Rate

    Fidelity Funding Mortgage Corp.'s average 30 year fixed mortgage rate was 5.1%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of 0.34%.

    Relative Fees (Closing Costs)

    Fidelity Funding Mortgage Corp.'s average total fees/closing costs for a 30 year fixed rate mortgage were $8,059.

    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) 86 $31,350,000 $364,535 $7,614 5.00%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 91 $29,415,000 $323,242 $7,979 5.02%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 27 $15,395,000 $570,185 $8,526 4.51%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 31 $12,495,000 $403,065 $9,665 5.25%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 32 $9,120,000 $285,000 $7,117 5.14%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 5 $1,665,000 $333,000 $10,250 5.55%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 4 $1,300,000 $325,000 $9,033 6.59%
    JACKSONVILLE, FL (FHA|USDA|VA) 2 $830,000 $415,000 $13,098 4.75%
    PUNTA GORDA, FL (FHA|USDA|VA) 2 $810,000 $405,000 $11,700 4.69%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 3 $645,000 $215,000 $4,010 4.04%
    OCALA, FL (FHA|USDA|VA) 3 $565,000 $188,333 $4,793 5.50%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $555,000 $555,000 $6,010 3.75%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 2 $540,000 $270,000 $9,252 6.06%
    SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $375,000 $375,000 $3,317 7.88%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $245,000 $245,000 $5,321 3.50%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $225,000 $225,000 $7,091 6.63%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $205,000 $205,000 $8,769 5.63%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $185,000 $185,000 $11,441 6.63%
    THE VILLAGES, FL (FHA|USDA|VA) 1 $185,000 $185,000 $3,492 4.38%
    TALLAHASSEE, FL (FHA|USDA|VA) 1 $115,000 $115,000 $3,581 3.50%
    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
    Citizens First Bank
    Similarity Rank: 1272
    ALL WESTERN MORTGAGE, INC.
    Similarity Rank: 1274
    SAN ANTONIO CITIZENS
    Similarity Rank: 1280
    RAILROAD & INDUSTRIAL
    Similarity Rank: 1410
    We Florida Financial
    Similarity Rank: 1416
    LAUNCH FEDERAL CREDIT UNION
    Similarity Rank: 1672
    AMERANT BANK, NATIONAL ASSOCIATION
    Similarity Rank: 1746
    IVY MORTGAGE, INC.
    Similarity Rank: 2242
    INSIGHT
    Similarity Rank: 2930

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 230 $83,820,000 $364,435 $7,109 5.08%
    FHA 37 $11,595,000 $313,378 $12,151 5.10%
    VA 25 $10,015,000 $400,600 $10,154 4.73%
    FHA 2 $290,000 $145,000 $0 3.48%
    USDA 2 $500,000 $250,000 $6,337 4.88%

    For 2022, Fidelity Funding Mortgage Corp.'s most frequently originated type of loan was Conventional, with 230 originations. Their 2nd most popular type was FHA, with 37 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 235 $84,935,000 $361,426 $8,087 5.18%
    Cash Out Refi 50 $16,720,000 $334,400 $7,810 4.75%
    Refi 11 $4,565,000 $415,000 $6,917 3.39%

    For 2022, Fidelity Funding Mortgage Corp.'s most frequently cited loan purpose was Home Purchase, with 235 originations. The 2nd most popular reason was Cash Out Refi, with 50 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 282 $102,360,000 $362,979 $8,059 5.10%
    15 Year 10 $2,660,000 $266,000 $4,627 3.63%
    Other 3 $865,000 $288,333 $28,708 4.49%
    20 Year 1 $335,000 $335,000 $3,558 3.38%

    For 2022, Fidelity Funding Mortgage Corp.'s most frequently cited loan duration was 30 Year, with 282 originations. The 2nd most popular length was 15 Year, with 10 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 84 $27,660,000 $329,286
    $5k+ 79 $39,455,000 $499,430
    $<1k 52 $17,090,000 $328,654
    $2k-3k 31 $7,715,000 $248,871
    $3k-4k 27 $7,075,000 $262,037
    $4k-5k 21 $6,935,000 $330,238

    Fidelity Funding Mortgage Corp.'s average total fees were $8,059, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 84 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 83 $29,635,000 $357,048
    3-4% 74 $27,710,000 $374,459
    4-5% 66 $22,030,000 $333,788
    6-7% 36 $13,320,000 $370,000
    7-8% 18 $6,020,000 $334,444
    2.5-3% 12 $4,990,000 $415,833
    Over 8% 7 $2,515,000 $359,286

    During 2022, Fidelity Funding Mortgage Corp.'s average interest rate for loans was 5.10%, while their most frequently originated rate bucket for loans was 5-6%, with 83 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 146 $43,410,000 $297,329 $7,375 5.04%
    $100k-200k 62 $9,710,000 $156,613 $4,368 4.90%
    $400k-600k 58 $27,500,000 $474,138 $10,314 5.23%
    $600k-1MM 17 $12,445,000 $732,059 $14,510 5.07%
    $1MM+ 8 $12,740,000 $1,592,500 $18,947 4.34%
    $100,000 or less 5 $415,000 $83,000 $3,160 5.33%

    2022 saw Fidelity Funding Mortgage Corp. place emphasis on $200k-400k loans with 146 originations, totaling $43,410,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 74 $25,810,000 $348,784 $7,433 5.10%
    $75k-100k 55 $15,645,000 $284,455 $7,544 5.00%
    $150k-250k 53 $23,145,000 $436,698 $9,645 5.28%
    $50k-75k 50 $12,290,000 $245,800 $7,163 4.76%
    $250k+ 32 $24,440,000 $763,750 $11,912 5.14%
    $50k or less 30 $4,390,000 $146,333 $4,306 4.86%

    Fidelity Funding Mortgage Corp. lent most frequently to those with incomes in the $100k-150k range, with 74 originations. The second most popular income band? $75k-100k, with 55 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 54 $20,200,000 $374,074 $7,590 4.65%
    30-36% 40 $13,870,000 $346,750 $7,182 4.71%
    49% 24 $7,710,000 $321,250 $8,554 5.06%
    41% 21 $7,915,000 $376,905 $6,816 4.74%
    50-60% 20 $7,050,000 $352,500 $12,375 4.81%
    44% 17 $4,215,000 $247,941 $6,551 5.51%
    42% 13 $6,185,000 $475,769 $10,515 5.19%
    <20% 11 $5,295,000 $481,364 $6,869 5.82%
    45% 11 $3,595,000 $326,818 $6,541 4.80%
    46% 10 $2,520,000 $252,000 $6,814 5.60%
    39% 10 $6,180,000 $618,000 $9,277 4.99%
    37% 10 $3,090,000 $309,000 $8,050 5.45%
    48% 10 $2,750,000 $275,000 $8,025 6.29%
    40% 9 $3,375,000 $375,000 $6,895 5.01%
    47% 8 $2,900,000 $362,500 $5,893 5.22%
    38% 8 $3,200,000 $400,000 $9,898 5.05%
    43% 8 $2,360,000 $295,000 $8,292 5.36%
    36% 8 $3,020,000 $377,500 $8,882 5.64%

    Fidelity Funding Mortgage Corp. lent most frequently to those with DTI ratios of 20-30%, with 54 originations. The next most common DTI ratio? 30-36%, with 40 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 241 $83,835,000 $347,863 $7,786 5.05%
    Not provided 27 $11,835,000 $438,333 $8,237 4.94%
    Black 17 $5,335,000 $313,824 $7,798 4.84%
    Asian 7 $3,975,000 $567,857 $14,395 4.98%
    American Indian 3 $825,000 $275,000 $8,388 5.46%
    Native Hawaiian or Islander 1 $415,000 $415,000 $9,404 7.00%

    Approval Rates

    Total approvals of all applications
    95.24%

    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
    51.35%

    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 296 $106,220,000 $358,851

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    296 $106,220,000 $358,851

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 11 $1,675,000 $152,273 $4,089 4.99%
    40-60% 34 $9,540,000 $280,588 $6,438 4.55%
    60-80% 99 $40,795,000 $412,071 $8,537 4.86%
    80-100% 147 $52,175,000 $354,932 $7,999 5.30%
    Over 100% 5 $2,035,000 $407,000 $15,360 4.20%