Midflorida Mortgage Rates, Fees & Info

Lakeland, FL

LEI: 549300K7224BC1IAX207

Tax ID: 59-6194363

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
  • 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

    Midflorida is a smaller mortgage company specializing in Home Purchase and Refi loans. Midflorida has a high proportion of conventional loans. Their top markets by origination volume include: Lakeland, Tampa, Orlando, Sebring, and Port St. Lucie among others. We have data for 28 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 a low 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.

    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% 11/22/24
    30 Year Conventional Purchase 5.89% 11/22/24
    30 Year Conventional Refi 6.48% 11/22/24
    30 Year Cash-out Refi 6.46% 11/22/24
    30 Year FHA Purchase 6.13% 11/22/24
    30 Year FHA Refi 6.27% 11/22/24
    30 Year VA Purchase 5.27% 11/22/24
    30 Year VA Refi 6.27% 11/22/24
    30 Year USDA Purchase 5.83% 11/22/24
    30 Year USDA Refi 6.27% 11/22/24
    15 Year Conventional Purchase 5.58% 11/22/24
    15 Year Conventional Refi 6.48% 11/22/24
    15 Year Cash-out Refi 6.48% 11/22/24
    15 Year FHA Refi 5.68% 11/22/24
    15 Year VA Purchase 4.53% 11/22/24
    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

    2,781

    Origination Dollar Volume (All Markets)

    $396,725,000
    Show all (9) awards

    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) 1,232 $162,690,000 $132,054 $2,838 4.79%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 718 $113,320,000 $157,827 $3,235 4.85%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 159 $27,345,000 $171,981 $3,321 4.86%
    SEBRING-AVON PARK, FL (FHA|USDA|VA) 242 $21,670,000 $89,545 $2,639 4.93%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 115 $17,675,000 $153,696 $2,826 4.87%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 29 $9,575,000 $330,172 $4,696 4.46%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 70 $6,570,000 $93,857 $2,061 4.94%
    Wauchula, FL (FHA|USDA|VA) 37 $5,775,000 $156,081 $3,825 4.51%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 9 $4,755,000 $528,333 $3,009 4.78%
    Arcadia, FL (FHA|USDA|VA) 26 $4,100,000 $157,692 $3,770 4.54%
    OCALA, FL (FHA|USDA|VA) 21 $3,735,000 $177,857 $3,416 4.46%
    PUNTA GORDA, FL (FHA|USDA|VA) 19 $3,545,000 $186,579 $4,071 4.87%
    Okeechobee, FL (FHA|USDA|VA) 28 $2,980,000 $106,429 $2,755 4.65%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 16 $2,620,000 $163,750 $3,918 4.47%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 15 $2,265,000 $151,000 $3,460 4.43%
    THE VILLAGES, FL (FHA|USDA|VA) 7 $1,515,000 $216,429 $3,479 4.57%
    Outside of Metro Areas 9 $1,435,000 $159,444 $3,761 4.11%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 6 $1,350,000 $225,000 $3,776 4.52%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 3 $895,000 $298,333 $6,776 4.67%
    GAINESVILLE, FL (FHA|USDA|VA) 4 $790,000 $197,500 $2,938 3.97%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 7 $725,000 $103,571 $2,959 4.48%
    PANAMA CITY, FL (FHA|USDA|VA) 2 $490,000 $245,000 $3,217 4.13%
    JACKSONVILLE, FL (FHA|USDA|VA) 2 $340,000 $170,000 $3,029 4.37%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $215,000 $215,000 $2,502 4.50%
    Lake City, FL (FHA|USDA|VA) 1 $105,000 $105,000 $0 4.74%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $95,000 $95,000 $3,175 3.50%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $75,000 $75,000 $2,646 3.75%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $75,000 $75,000 $0 5.00%
    Midflorida's top markets include Lakeland, Tampa, Orlando, Sebring, and Port St. Lucie among others.

    Their top states include:
  • Florida (FHA|USDA|VA)
  • (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Kansas (FHA|USDA|VA)
  • Tennessee (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.

    McCoy Federal Credit Union
    Similarity Rank: 342
    METROPLEX MORTGAGE SERVICES, INC.
    Similarity Rank: 625
    ADDITION FINANCIAL
    Similarity Rank: 910
    NTFN, INC.
    Similarity Rank: 927
    RAILROAD & INDUSTRIAL
    Similarity Rank: 1056
    WILLIAM RAVEIS MORTGAGE, LLC
    Similarity Rank: 1080
    SAN ANTONIO CITIZENS
    Similarity Rank: 1105
    Brannen Bank
    Similarity Rank: 1265
    READY MORTGAGE LENDERS, LLC
    Similarity Rank: 1344
    Citizens First Bank
    Similarity Rank: 1536

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,221 $358,825,000 $161,560 $3,004 4.67%
    HELOC 559 $37,575,000 $67,218 n/a 5.32%
    VA 1 $325,000 $325,000 $14,994 4.13%

    For 2019, Midflorida's most frequently originated type of loan was Conventional, with 2,221 originations. Their 2nd most popular type was HELOC, with 559 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 781 $181,525,000 $232,426 $3,768 4.30%
    Home Improvement 657 $37,675,000 $57,344 $806 5.36%
    Refi 633 $120,045,000 $189,645 $3,317 4.45%
    Other 417 $26,145,000 $62,698 $980 5.43%
    Cash Out Refi 293 $31,335,000 $106,945 $2,790 4.78%

    For 2019, Midflorida's most frequently cited loan purpose was Home Purchase, with 781 originations. The 2nd most popular reason was Home Improvement, with 657 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 717 $57,075,000 $79,603 $2,308 5.34%
    30 Year 658 $124,790,000 $189,650 $3,417 4.21%
    10 Year 405 $32,405,000 $80,012 $742 5.37%
    30+ year 359 $118,035,000 $328,788 $4,559 4.42%
    15 Year 341 $43,815,000 $128,490 $2,712 4.53%
    5 Year 199 $6,735,000 $33,844 $480 4.80%
    Other 95 $13,485,000 $141,947 $2,871 4.87%
    3 Year 7 $385,000 $55,000 $273 5.10%

    For 2019, Midflorida's most frequently cited loan duration was 20 Year, with 717 originations. The 2nd most popular length was 30 Year, with 658 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 783 $139,775,000 $178,512
    $1k-2k 498 $145,720,000 $292,610
    $2k-3k 20 $8,780,000 $439,000
    $3k-4k 7 $1,685,000 $240,714
    $5k+ 4 $1,380,000 $345,000
    $4k-5k 3 $675,000 $225,000

    Midflorida's average total fees were $3,417, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 783 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 1,107 $179,375,000 $162,037
    5-6% 766 $60,130,000 $78,499
    3-4% 704 $146,170,000 $207,628
    6-7% 144 $7,770,000 $53,958
    7-8% 38 $1,660,000 $43,684
    Over 8% 14 $440,000 $31,429
    2.5-3% 8 $1,180,000 $147,500

    During 2019, Midflorida's average interest rate for loans was 4.21%, while their most frequently originated rate bucket for loans was 4-5%, with 1,107 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,425 $67,015,000 $47,028 $1,364 5.24%
    $100k-200k 700 $100,590,000 $143,700 $3,142 4.41%
    $200k-400k 521 $143,725,000 $275,864 $4,069 4.29%
    $400k-600k 94 $44,280,000 $471,064 $5,339 4.20%
    $600k-1MM 25 $18,165,000 $726,600 $6,466 4.16%
    $1MM+ 16 $22,950,000 $1,434,375 $9,454 4.32%

    2019 saw Midflorida place emphasis on $100,000 or less loans with 1,425 originations, totaling $67,015,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 650 $65,320,000 $100,492 $2,652 4.81%
    $100k-150k 610 $98,170,000 $160,934 $3,261 4.80%
    $75k-100k 520 $64,800,000 $124,615 $2,945 4.79%
    $50k or less 475 $35,445,000 $74,621 $2,287 4.83%
    $150k-250k 343 $66,545,000 $194,009 $3,719 4.79%
    $250k+ 140 $50,920,000 $363,714 $5,041 4.62%

    Midflorida lent most frequently to those with incomes in the $50k-75k range, with 650 originations. The second most popular income band? $100k-150k, with 610 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 790 $102,120,000 $129,266 $2,857 4.74%
    30-36% 650 $90,960,000 $139,938 $2,965 4.84%
    <20% 348 $39,570,000 $113,707 $2,774 4.81%
    42% 142 $29,590,000 $208,380 $3,723 4.43%
    37% 132 $19,550,000 $148,106 $3,241 4.90%
    36% 118 $17,400,000 $147,458 $3,000 4.72%
    40% 116 $17,810,000 $153,534 $3,252 4.75%
    38% 114 $16,720,000 $146,667 $2,959 4.88%
    39% 113 $17,045,000 $150,841 $3,129 4.72%
    41% 110 $21,630,000 $196,636 $3,487 4.67%
    43% 21 $1,635,000 $77,857 $2,122 5.96%
    45% 14 $1,480,000 $105,714 $1,723 5.46%
    44% 12 $690,000 $57,500 $2,032 5.34%
    >60% 10 $1,180,000 $118,000 $2,874 5.50%
    46% 9 $385,000 $42,778 $696 5.11%
    48% 9 $715,000 $79,444 $688 5.53%
    50-60% 8 $620,000 $77,500 $1,741 5.35%
    47% 6 $520,000 $86,667 $1,650 5.25%
    49% 4 $450,000 $112,500 $908 5.43%

    Midflorida lent most frequently to those with DTI ratios of 20-30%, with 790 originations. The next most common DTI ratio? 30-36%, with 650 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,353 $319,495,000 $135,782 $3,001 4.80%
    Not provided 209 $39,135,000 $187,249 $3,230 4.66%
    Not applicable 43 $15,525,000 $361,047 $0 5.20%
    Black 124 $15,320,000 $123,548 $2,750 4.99%
    Asian 36 $5,620,000 $156,111 $3,241 4.76%
    American Indian 4 $470,000 $117,500 $2,923 5.34%
    Asian Indian 3 $405,000 $135,000 $0 5.00%
    Other Asian 2 $330,000 $165,000 $4,522 5.62%
    Filipino 5 $265,000 $53,000 $389 5.14%
    Native Hawaiian or Islander 2 $160,000 $80,000 $0 5.75%

    Approval Rates

    Total approvals of all applications
    69.63%

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

    Pick Rate

    Approvals leading to origination
    63.68%

    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 2,781 $396,725,000 $142,656

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 12 $9,830,000 $819,167
    Single Family (1-4 Units):Manufactured 11 $615,000 $55,909
    Single Family (1-4 Units):Site-Built 2,758 $386,280,000 $140,058

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 478 $38,040,000 $79,582 $1,608 5.25%
    40-60% 355 $48,605,000 $136,915 $2,909 4.53%
    60-80% 670 $146,130,000 $218,104 $3,619 4.34%
    80-100% 507 $132,365,000 $261,075 $3,927 4.33%
    Over 100% 1 $785,000 $785,000 $0 5.50%
    Under 20% 721 $27,405,000 $38,010 $486 5.38%