South Florida Educational Mortgage Rates, Fees & Info
Miami, FLLEI: 549300GL556PQ7WG0G08
Tax ID: 59-0630270
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Mortgage Data
Review & Overview
South Florida Educational is a smaller mortgage company specializing in 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, Port St. Lucie, Deltona, Key West, and Tallahassee among others. We have data for 6 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 a high 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.
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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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
186Origination Dollar Volume (All Markets)
$41,010,000Top 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) | 179 | $39,545,000 | $220,922 | $10,445 | 2.97% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $4,671 | 2.88% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $4,657 | 3.00% |
| Key West, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $5,277 | 2.75% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $5,887 | 3.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,097 | 2.88% |
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.
Similarity Rank: 167
Similarity Rank: 768
Similarity Rank: 1584
Similarity Rank: 1770
Similarity Rank: 1950
Similarity Rank: 2134
Similarity Rank: 2205
Similarity Rank: 2730
Similarity Rank: 3054
Similarity Rank: 3808
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 174 | $39,980,000 | $229,770 | $10,209 | 2.91% |
| HELOC | 12 | $1,030,000 | $85,833 | n/a | 3.81% |
For 2021, South Florida Educational's most frequently originated type of loan was Conventional, with 174 originations. Their 2nd most popular type was HELOC, with 12 originations.
Loan Reason
For 2021, South Florida Educational's most frequently cited loan purpose was Cash Out Refi, with 86 originations. The 2nd most popular reason was Refi, with 37 originations.
Loan Duration/Length
For 2021, South Florida Educational's most frequently cited loan duration was 30 Year, with 95 originations. The 2nd most popular length was 15 Year, with 45 originations.
Origination Fees/Closing Costs
South Florida Educational's average total fees were $12,151, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 91 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 89 | $21,175,000 | $237,921 |
| 3-4% | 44 | $10,980,000 | $249,545 |
| <2.5% | 42 | $8,170,000 | $194,524 |
| 4-5% | 6 | $360,000 | $60,000 |
| 5-6% | 5 | $325,000 | $65,000 |
During 2021, South Florida Educational's average interest rate for loans was 3.04%, while their most frequently originated rate bucket for loans was 2.5-3%, with 89 originations.
Loan Sizing
2021 saw South Florida Educational place emphasis on $200k-400k loans with 89 originations, totaling $24,955,000 in origination value.
Applicant Income
South Florida Educational lent most frequently to those with incomes in the $50k-75k range, with 55 originations. The second most popular income band? $75k-100k, with 46 originations.
Applicant Debt to Income Ratio
South Florida Educational lent most frequently to those with DTI ratios of 20-30%, with 40 originations. The next most common DTI ratio? 30-36%, with 38 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications67.31%
South Florida Educational has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination34.41%
South Florida Educational 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 | 186 | $41,010,000 | $220,484 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| STIFEL FINANCIAL CORP. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |