Midflorida Mortgage Rates, Fees & Info
Lakeland, FLLEI: 549300K7224BC1IAX207
Tax ID: 59-6194363
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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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 12/29/24 |
| 30 Year Conventional Purchase | 5.89% | 12/29/24 |
| 30 Year Conventional Refi | 6.48% | 12/29/24 |
| 30 Year Cash-out Refi | 6.46% | 12/29/24 |
| 30 Year FHA Purchase | 6.13% | 12/29/24 |
| 30 Year FHA Refi | 6.27% | 12/29/24 |
| 30 Year VA Purchase | 5.27% | 12/29/24 |
| 30 Year VA Refi | 6.27% | 12/29/24 |
| 30 Year USDA Purchase | 5.83% | 12/29/24 |
| 30 Year USDA Refi | 6.27% | 12/29/24 |
| 15 Year Conventional Purchase | 5.58% | 12/29/24 |
| 15 Year Conventional Refi | 6.48% | 12/29/24 |
| 15 Year Cash-out Refi | 6.48% | 12/29/24 |
| 15 Year FHA Refi | 5.68% | 12/29/24 |
| 15 Year VA Purchase | 4.53% | 12/29/24 |
| 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
3,083Origination Dollar Volume (All Markets)
$545,425,000Awards
MIDFLORIDA - 2023
MIDFLORIDA is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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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% |
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.
Similarity Rank: 261
Similarity Rank: 456
Similarity Rank: 459
Similarity Rank: 660
Similarity Rank: 700
Similarity Rank: 741
Similarity Rank: 804
Similarity Rank: 825
Similarity Rank: 858
Similarity Rank: 882
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
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
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
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
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
2023 saw Midflorida place emphasis on $100,000 or less loans with 1,617 originations, totaling $80,665,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications62.58%
Midflorida has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination66.14%
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 |