Midflorida Mortgage Rates, Fees & Info

Lakeland, FL

LEI: 549300K7224BC1IAX207

Tax ID: 59-6194363

5 stars - Updated: 12/2/24 - out of 5 stars, based on 56 reviews

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

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Mortgage Data

Review & Overview

Midflorida is a smaller mortgage company specializing in Home Purchase loans. Midflorida has a high proportion of conventional loans. Their top markets by origination volume include: Lakeland, Tampa, Orlando, Naples, and Port St. Lucie among others. We have data for 33 markets. (Some data included below & more in-depth data is available with an active subscription.)

Midflorida 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. Midflorida 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 relatively high 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.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.27% 12/2/24
30 Year Conventional Purchase 5.89% 12/2/24
30 Year Conventional Refi 6.48% 12/2/24
30 Year Cash-out Refi 6.46% 12/2/24
30 Year FHA Purchase 6.13% 12/2/24
30 Year FHA Refi 6.27% 12/2/24
30 Year VA Purchase 5.27% 12/2/24
30 Year VA Refi 6.27% 12/2/24
30 Year USDA Purchase 5.83% 12/2/24
30 Year USDA Refi 6.27% 12/2/24
15 Year Conventional Purchase 5.58% 12/2/24
15 Year Conventional Refi 6.48% 12/2/24
15 Year Cash-out Refi 6.48% 12/2/24
15 Year FHA Refi 5.68% 12/2/24
15 Year VA Purchase 4.53% 12/2/24
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.

Midflorida Mortgage Calculator






Your Estimates

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

This is not an official calculator from Midflorida. 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

3,083

Origination Dollar Volume (All Markets)

$545,425,000
Show all (23) awards

Relative Rate

Midflorida's average 30 year fixed mortgage rate was 6.16%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.32%.

Relative Fees (Closing Costs)

Midflorida's average total fees/closing costs for a 30 year fixed rate mortgage were $4,927.

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 $9,089.

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
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1,035 $137,465,000 $132,816 $2,140 6.12%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 756 $129,610,000 $171,442 $2,499 5.97%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 181 $38,875,000 $214,779 $2,770 6.07%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 54 $37,660,000 $697,407 $6,704 5.60%
PORT ST. LUCIE, FL (FHA|USDA|VA) 223 $35,045,000 $157,152 $2,634 5.90%
OCALA, FL (FHA|USDA|VA) 152 $28,960,000 $190,526 $3,489 5.84%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 100 $25,910,000 $259,100 $3,723 5.92%
SEBRING-AVON PARK, FL (FHA|USDA|VA) 190 $20,310,000 $106,895 $1,935 6.13%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 27 $17,395,000 $644,259 $8,222 5.68%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 15 $10,105,000 $673,667 $2,029 6.11%
THE VILLAGES, FL (FHA|USDA|VA) 57 $9,005,000 $157,982 $3,168 5.75%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 86 $8,540,000 $99,302 $1,350 6.16%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 26 $7,600,000 $292,308 $5,130 5.54%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 19 $5,575,000 $293,421 $6,030 6.18%
GAINESVILLE, FL (FHA|USDA|VA) 24 $5,090,000 $212,083 $4,415 6.41%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 24 $4,930,000 $205,417 $4,251 5.96%
Wauchula, FL (FHA|USDA|VA) 24 $4,150,000 $172,917 $4,264 6.02%
PUNTA GORDA, FL (FHA|USDA|VA) 9 $3,705,000 $411,667 $7,177 5.97%
Okeechobee, FL (FHA|USDA|VA) 23 $3,385,000 $147,174 $2,851 6.27%
JACKSONVILLE, FL (FHA|USDA|VA) 11 $2,805,000 $255,000 $3,984 6.67%
Outside of Metro Areas 16 $2,760,000 $172,500 $3,603 6.32%
Arcadia, FL (FHA|USDA|VA) 15 $1,735,000 $115,667 $2,250 5.99%
TALLAHASSEE, FL (FHA|USDA|VA) 4 $1,110,000 $277,500 $5,798 5.88%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $890,000 $445,000 $4,746 6.69%
Cullowhee, NC (FHA|USDA|VA) 2 $610,000 $305,000 $7,330 7.25%
KNOXVILLE, TN (FHA|USDA|VA) 1 $575,000 $575,000 $7,085 6.75%
SIOUX FALLS, SD (FHA|USDA|VA) 1 $485,000 $485,000 $3,085 6.25%
SAVANNAH, GA (FHA|USDA|VA) 1 $305,000 $305,000 $8,660 6.38%
Clewiston, FL (FHA|USDA|VA) 1 $285,000 $285,000 $6,630 5.75%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $205,000 $205,000 $0 6.25%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $195,000 $195,000 $2,611 6.75%
VALDOSTA, GA (FHA|USDA|VA) 1 $95,000 $95,000 $2,808 6.63%
Palatka, FL (FHA|USDA|VA) 1 $55,000 $55,000 $86 7.38%
Midflorida's top markets include Lakeland, Tampa, Orlando, Naples, and Port St. Lucie among others.

Their top states include:
  • Florida (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • South Dakota (FHA|USDA|VA)
  • Similar Lenders

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

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,111 $429,255,000 $203,342 $2,681 6.69%
    HELOC 972 $116,170,000 $119,516 n/a 4.58%

    For 2023, Midflorida's most frequently originated type of loan was Conventional, with 2,111 originations. Their 2nd most popular type was HELOC, with 972 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 1,184 $89,700,000 $75,760 $267 5.84%
    Home Purchase 886 $329,180,000 $371,535 $5,990 6.16%
    Other 498 $43,560,000 $87,470 $535 6.10%
    Refi 429 $62,955,000 $146,748 $552 6.13%
    Cash Out Refi 86 $20,030,000 $232,907 $4,284 6.17%

    For 2023, Midflorida's most frequently cited loan purpose was Home Improvement, with 1,184 originations. The 2nd most popular reason was Home Purchase, with 886 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 1,151 $134,945,000 $117,242 $380 5.07%
    30 Year 601 $181,255,000 $301,589 $4,927 6.16%
    10 Year 489 $43,635,000 $89,233 $208 6.87%
    15 Year 334 $42,420,000 $127,006 $1,126 7.19%
    30+ year 227 $122,095,000 $537,863 $8,684 6.22%
    5 Year 192 $8,440,000 $43,958 $169 6.49%
    Other 67 $3,855,000 $57,537 $672 6.82%
    1 Year 16 $8,560,000 $535,000 $2,745 7.21%
    3 Year 6 $220,000 $36,667 $192 6.67%

    For 2023, Midflorida's most frequently cited loan duration was 20 Year, with 1,151 originations. The 2nd most popular length was 30 Year, with 601 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,523 $193,445,000 $127,016
    $2k-3k 169 $67,015,000 $396,538
    $1k-2k 152 $29,590,000 $194,671
    $3k-4k 94 $32,550,000 $346,277
    $5k+ 72 $55,360,000 $768,889
    $4k-5k 69 $29,745,000 $431,087

    Midflorida's average total fees were $4,927, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,523 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 893 $166,725,000 $186,702
    7-8% 613 $85,015,000 $138,687
    5-6% 509 $154,215,000 $302,976
    3-4% 486 $56,010,000 $115,247
    4-5% 480 $69,400,000 $144,583
    Over 8% 100 $12,350,000 $123,500
    <2.5% 2 $1,710,000 $855,000

    During 2023, Midflorida's average interest rate for loans was 6.16%, while their most frequently originated rate bucket for loans was 6-7%, with 893 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,617 $80,665,000 $49,886 $364 6.13%
    $100k-200k 635 $85,875,000 $135,236 $2,459 5.85%
    $200k-400k 531 $148,405,000 $279,482 $5,140 5.93%
    $400k-600k 174 $82,030,000 $471,437 $7,100 6.09%
    $600k-1MM 81 $58,595,000 $723,395 $9,770 5.98%
    $1MM+ 45 $89,855,000 $1,996,778 $14,627 5.77%

    2023 saw Midflorida place emphasis on $100,000 or less loans with 1,617 originations, totaling $80,665,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 801 $111,345,000 $139,007 $2,368 6.06%
    $150k-250k 633 $128,105,000 $202,378 $3,194 5.97%
    $75k-100k 507 $54,275,000 $107,051 $1,837 6.14%
    $50k-75k 503 $42,455,000 $84,404 $1,688 6.01%
    $250k+ 331 $168,685,000 $509,622 $6,992 5.67%
    $50k or less 250 $16,080,000 $64,320 $1,550 6.13%

    Midflorida lent most frequently to those with incomes in the $100k-150k range, with 801 originations. The second most popular income band? $150k-250k, with 633 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 870 $116,280,000 $133,655 $1,921 6.05%
    30-36% 649 $89,615,000 $138,082 $2,230 6.03%
    <20% 319 $50,745,000 $159,075 $1,911 5.67%
    42% 180 $50,760,000 $282,000 $5,354 6.08%
    39% 140 $24,380,000 $174,143 $3,189 6.11%
    40% 134 $28,160,000 $210,149 $3,645 6.14%
    37% 129 $19,455,000 $150,814 $2,194 6.00%
    36% 123 $19,825,000 $161,179 $2,319 6.18%
    41% 122 $33,670,000 $275,984 $4,070 6.23%
    38% 115 $19,955,000 $173,522 $2,844 5.84%
    43% 62 $10,330,000 $166,613 $2,594 5.68%
    44% 50 $10,080,000 $201,600 $3,537 5.86%
    45% 38 $7,290,000 $191,842 $2,956 5.93%
    46% 30 $5,860,000 $195,333 $3,703 5.93%
    50-60% 24 $8,000,000 $333,333 $2,837 5.93%
    47% 17 $3,875,000 $227,941 $3,640 5.78%
    48% 12 $4,160,000 $346,667 $3,212 6.21%
    49% 12 $4,540,000 $378,333 $6,263 6.29%
    >60% 12 $14,240,000 $1,186,667 $8,295 6.47%

    Midflorida lent most frequently to those with DTI ratios of 20-30%, with 870 originations. The next most common DTI ratio? 30-36%, with 649 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,501 $425,465,000 $170,118 $2,587 5.99%
    Not provided 288 $60,600,000 $210,417 $3,948 6.03%
    Not applicable 34 $21,410,000 $629,706 $0 7.33%
    Black 165 $18,075,000 $109,545 $1,609 6.26%
    Asian 61 $13,955,000 $228,770 $3,392 5.99%
    Asian Indian 12 $2,760,000 $230,000 $2,335 5.50%
    Other Asian 4 $1,320,000 $330,000 $6,370 6.81%
    American Indian 7 $695,000 $99,286 $1,413 6.48%
    Filipino 5 $445,000 $89,000 $195 5.77%
    Vietnamese 1 $355,000 $355,000 $0 4.99%
    Native Hawaiian or Islander 5 $345,000 $69,000 $1,688 6.00%

    Approval Rates

    Total approvals of all applications
    62.58%

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

    Pick Rate

    Approvals leading to origination
    66.14%

    Midflorida 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 3,083 $545,425,000 $176,914

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    3,083 $545,425,000 $176,914

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 642 $95,920,000 $149,408 $1,691 5.89%
    40-60% 339 $127,615,000 $376,445 $4,918 5.93%
    60-80% 428 $158,590,000 $370,537 $6,214 6.18%
    80-100% 210 $72,900,000 $347,143 $5,860 6.37%
    Under 20% 1,464 $90,400,000 $61,749 $256 6.01%