South Florida Educational Mortgage Rates, Fees & Info

Miami, FL

LEI: 549300GL556PQ7WG0G08

Tax ID: 59-0630270

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • 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

    South Florida Educational is a smaller mortgage company specializing in Other, Cash Out Refi, and Home Purchase loans. South Florida Educational has a high proportion of conventional loans. Their top markets by origination volume include: Miami, Naples, Key West, and Tampa among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    South Florida Educational has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. South Florida Educational 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 6.53% 12/16/24
    30 Year Conventional Refi 6.41% 12/16/24
    30 Year Cash-out Refi 6.61% 12/16/24
    15 Year Conventional Purchase 6.13% 12/16/24
    15 Year Conventional Refi 6.00% 12/16/24
    15 Year Cash-out Refi 6.00% 12/16/24
    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.

    South Florida Educational Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from South Florida Educational. 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

    197

    Origination Dollar Volume (All Markets)

    $24,125,000

    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
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 194 $23,890,000 $123,144 $4,059 5.12%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $125,000 $125,000 $6,395 4.38%
    Key West, FL (FHA|USDA|VA) 1 $85,000 $85,000 $0 3.79%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $25,000 $25,000 $0 4.50%
    South Florida Educational's top markets include Miami, Naples, Key West, and Tampa among others.

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

    • Similar Lenders

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

    We Florida Financial
    Similarity Rank: 312
    Natbank
    Similarity Rank: 392
    POWER FINANCIAL
    Similarity Rank: 432
    SOUTH FLORIDA EDUCATIONAL
    Similarity Rank: 836
    MIAMI FIREFIGHTERS FCU
    Similarity Rank: 912
    Guardians Credit Union
    Similarity Rank: 948
    Biscayne Bank
    Similarity Rank: 1014
    TrustCo Bank
    Similarity Rank: 1275
    TROPICAL FINANCIAL CREDIT UNION
    Similarity Rank: 1938
    BRIGHTSTAR
    Similarity Rank: 2275

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 166 $21,460,000 $129,277 $4,079 4.96%
    HELOC 31 $2,665,000 $85,968 n/a 5.84%

    For 2018, South Florida Educational's most frequently originated type of loan was Conventional, with 166 originations. Their 2nd most popular type was HELOC, with 31 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 65 $5,205,000 $80,077 $2,333 5.66%
    Home Improvement 50 $3,470,000 $69,400 $1,901 5.49%
    Cash Out Refi 41 $6,965,000 $169,878 $4,634 4.37%
    Home Purchase 31 $6,965,000 $224,677 $5,881 4.56%
    Refi 10 $1,520,000 $152,000 $3,464 4.18%

    For 2018, South Florida Educational's most frequently cited loan purpose was Other, with 65 originations. The 2nd most popular reason was Home Improvement, with 50 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 53 $11,675,000 $220,283 $5,455 4.63%
    15 Year 47 $4,385,000 $93,298 $3,292 5.34%
    20 Year 40 $5,040,000 $126,000 $4,577 5.20%
    10 Year 26 $1,780,000 $68,462 $2,135 5.74%
    5 Year 16 $630,000 $39,375 $831 4.69%
    Other 15 $615,000 $41,000 $753 5.12%

    For 2018, South Florida Educational's most frequently cited loan duration was 30 Year, with 53 originations. The 2nd most popular length was 15 Year, with 47 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 96 $9,460,000 $98,542
    $4k-5k 16 $3,120,000 $195,000
    $3k-4k 12 $1,380,000 $115,000
    $5k+ 12 $2,950,000 $245,833
    $2k-3k 5 $1,035,000 $207,000
    $1k-2k 2 $240,000 $120,000

    South Florida Educational's average total fees were $5,455, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 96 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 106 $16,080,000 $151,698
    5-6% 29 $2,425,000 $83,621
    3-4% 28 $3,760,000 $134,286
    6-7% 18 $980,000 $54,444
    7-8% 9 $575,000 $63,889
    Over 8% 7 $305,000 $43,571

    During 2018, South Florida Educational's average interest rate for loans was 4.63%, while their most frequently originated rate bucket for loans was 4-5%, with 106 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 106 $5,080,000 $47,925 $1,605 5.57%
    $100k-200k 45 $6,705,000 $149,000 $4,429 4.59%
    $200k-400k 43 $11,035,000 $256,628 $5,675 4.49%
    $400k-600k 3 $1,305,000 $435,000 $7,110 5.04%

    2018 saw South Florida Educational place emphasis on $100,000 or less loans with 106 originations, totaling $5,080,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 64 $7,150,000 $111,719 $4,183 5.13%
    $100k-150k 52 $6,820,000 $131,154 $4,089 5.34%
    $75k-100k 29 $3,865,000 $133,276 $4,601 4.88%
    $50k or less 28 $2,640,000 $94,286 $3,757 4.91%
    $150k-250k 17 $2,545,000 $149,706 $3,807 5.19%
    $250k+ 5 $805,000 $161,000 $1,961 4.72%

    South Florida Educational lent most frequently to those with incomes in the $50k-75k range, with 64 originations. The second most popular income band? $100k-150k, with 52 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 31 $3,925,000 $126,613 $3,729 5.05%
    20-30% 30 $3,380,000 $112,667 $3,757 4.85%
    50-60% 16 $1,140,000 $71,250 $4,061 5.94%
    49% 14 $1,870,000 $133,571 $4,832 5.00%
    47% 12 $810,000 $67,500 $3,380 5.39%
    40% 9 $1,425,000 $158,333 $3,875 4.94%
    39% 9 $1,015,000 $112,778 $2,498 5.29%
    <20% 9 $815,000 $90,556 $4,700 4.39%
    41% 8 $1,830,000 $228,750 $5,244 4.89%
    48% 8 $870,000 $108,750 $4,577 5.32%
    38% 7 $675,000 $96,429 $4,147 6.58%
    46% 6 $970,000 $161,667 $4,359 4.90%
    44% 6 $860,000 $143,333 $3,668 5.04%
    36% 6 $1,090,000 $181,667 $4,021 4.98%
    43% 6 $700,000 $116,667 $5,143 5.08%
    42% 5 $655,000 $131,000 $4,953 5.15%
    37% 5 $535,000 $107,000 $4,302 4.12%
    45% 4 $660,000 $165,000 $5,970 5.13%
    >60% 2 $270,000 $135,000 $4,507 5.18%

    South Florida Educational lent most frequently to those with DTI ratios of 30-36%, with 31 originations. The next most common DTI ratio? 20-30%, with 30 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 143 $18,285,000 $127,867 $4,244 5.05%
    Black 34 $4,020,000 $118,235 $3,838 5.23%
    Not provided 18 $1,630,000 $90,556 $3,127 5.34%
    Native Hawaiian or Islander 1 $155,000 $155,000 $4,060 4.25%
    American Indian 1 $35,000 $35,000 $0 4.50%

    Approval Rates

    Total approvals of all applications
    63.90%

    South Florida Educational has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    82.23%

    South Florida Educational has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 197 $24,125,000 $122,462

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 197 $24,125,000 $122,462

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 45 $4,535,000 $100,778 $3,173 5.22%
    40-60% 23 $4,115,000 $178,913 $4,539 4.52%
    60-80% 29 $6,645,000 $229,138 $5,427 4.52%
    80-100% 18 $4,420,000 $245,556 $5,695 4.65%
    Under 20% 76 $3,630,000 $47,763 $1,394 5.54%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    STIFEL FINANCIAL CORP. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 25.0%
    STIFEL FINANCIAL CORP. Conventional home mortgage Trouble during payment process 1 25.0%
    STIFEL FINANCIAL CORP. VA mortgage Closing on a mortgage 1 25.0%
    STIFEL FINANCIAL CORP. VA mortgage Trouble during payment process 1 25.0%