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 Refi and Home Purchase loans. Midflorida has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Lakeland, Tampa, Naples, Orlando, and Ocala among others. We have data for 30 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Midflorida has an 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% 11/21/24
    30 Year Conventional Purchase 5.89% 11/21/24
    30 Year Conventional Refi 6.48% 11/21/24
    30 Year Cash-out Refi 6.46% 11/21/24
    30 Year FHA Purchase 6.13% 11/21/24
    30 Year FHA Refi 6.27% 11/21/24
    30 Year VA Purchase 5.27% 11/21/24
    30 Year VA Refi 6.27% 11/21/24
    30 Year USDA Purchase 5.83% 11/21/24
    30 Year USDA Refi 6.27% 11/21/24
    15 Year Conventional Purchase 5.58% 11/21/24
    15 Year Conventional Refi 6.48% 11/21/24
    15 Year Cash-out Refi 6.48% 11/21/24
    15 Year FHA Refi 5.68% 11/21/24
    15 Year VA Purchase 4.53% 11/21/24
    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

    4,416

    Origination Dollar Volume (All Markets)

    $821,190,000
    Show all (15) 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) 1,796 $270,870,000 $150,818 $2,666 3.33%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1,042 $200,870,000 $192,774 $2,871 3.31%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 95 $76,505,000 $805,316 $6,123 3.08%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 289 $71,135,000 $246,142 $3,246 3.28%
    OCALA, FL (FHA|USDA|VA) 178 $34,580,000 $194,270 $3,274 3.04%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 209 $31,955,000 $152,895 $2,347 3.46%
    SEBRING-AVON PARK, FL (FHA|USDA|VA) 312 $30,850,000 $98,878 $1,966 3.48%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 42 $16,040,000 $381,905 $4,312 3.24%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 110 $12,710,000 $115,545 $1,758 3.29%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 13 $10,325,000 $794,231 $6,432 2.80%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 40 $10,070,000 $251,750 $3,142 3.44%
    Wauchula, FL (FHA|USDA|VA) 57 $8,005,000 $140,439 $2,838 3.53%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 24 $7,400,000 $308,333 $4,154 3.15%
    THE VILLAGES, FL (FHA|USDA|VA) 41 $7,365,000 $179,634 $3,093 2.95%
    GAINESVILLE, FL (FHA|USDA|VA) 20 $5,540,000 $277,000 $4,020 2.95%
    Arcadia, FL (FHA|USDA|VA) 33 $4,795,000 $145,303 $2,922 3.28%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 22 $4,330,000 $196,818 $4,035 3.33%
    Okeechobee, FL (FHA|USDA|VA) 40 $4,280,000 $107,000 $2,286 3.58%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 8 $3,010,000 $376,250 $4,092 3.23%
    Outside of Metro Areas 9 $2,905,000 $322,778 $4,515 3.28%
    PUNTA GORDA, FL (FHA|USDA|VA) 17 $2,675,000 $157,353 $3,396 2.96%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $1,525,000 $1,525,000 $7,506 3.38%
    JACKSONVILLE, FL (FHA|USDA|VA) 6 $1,320,000 $220,000 $3,954 2.83%
    Lake City, FL (FHA|USDA|VA) 4 $920,000 $230,000 $3,858 3.25%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $520,000 $260,000 $3,204 3.25%
    Sevierville, TN (FHA|USDA|VA) 1 $275,000 $275,000 $4,042 3.00%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $170,000 $85,000 $222 4.15%
    JOHNSON CITY, TN (FHA|USDA|VA) 1 $165,000 $165,000 $4,727 3.75%
    KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 1 $45,000 $45,000 $2,699 3.25%
    TALLAHASSEE, FL (FHA|USDA|VA) 1 $35,000 $35,000 $163 4.99%
    Midflorida's top markets include Lakeland, Tampa, Naples, Orlando, and Ocala among others.

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

    TROPICAL FINANCIAL CREDIT UNION
    Similarity Rank: 575
    NTFN, INC.
    Similarity Rank: 585
    HARBORONE MORTGAGE, LLC
    Similarity Rank: 935
    THE MONEY HOUSE INC.
    Similarity Rank: 946
    VYSTAR
    Similarity Rank: 1150
    SAN ANTONIO CITIZENS
    Similarity Rank: 1170
    METROPLEX MORTGAGE SERVICES, INC.
    Similarity Rank: 1860
    WILLIAM RAVEIS MORTGAGE, LLC
    Similarity Rank: 1972
    RAILROAD & INDUSTRIAL
    Similarity Rank: 2045
    Citizens First Bank
    Similarity Rank: 2368

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 3,375 $732,385,000 $217,003 $2,838 3.60%
    HELOC 1,039 $88,405,000 $85,087 n/a 2.38%
    FHA 1 $95,000 $95,000 $4,926 3.38%
    VA 1 $305,000 $305,000 $15,095 2.75%

    For 2020, Midflorida's most frequently originated type of loan was Conventional, with 3,375 originations. Their 2nd most popular type was HELOC, with 1,039 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 1,615 $320,485,000 $198,443 $2,811 3.28%
    Home Purchase 1,199 $366,575,000 $305,734 $4,128 3.30%
    Home Improvement 963 $62,005,000 $64,387 $502 3.22%
    Other 454 $37,510,000 $82,621 $312 3.67%
    Cash Out Refi 185 $34,615,000 $187,108 $3,273 3.35%

    For 2020, Midflorida's most frequently cited loan purpose was Refi, with 1,615 originations. The 2nd most popular reason was Home Purchase, with 1,199 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,290 $315,140,000 $244,295 $3,453 3.30%
    20 Year 1,264 $123,050,000 $97,350 $2,076 2.68%
    15 Year 623 $118,075,000 $189,526 $2,629 3.38%
    10 Year 492 $67,030,000 $136,240 $1,002 4.23%
    30+ year 402 $148,050,000 $368,284 $5,146 3.44%
    5 Year 206 $7,590,000 $36,845 $202 4.27%
    Other 120 $34,260,000 $285,500 $2,671 3.85%
    3 Year 14 $5,330,000 $380,714 $196 4.33%
    1 Year 5 $2,665,000 $533,000 $3,538 4.64%

    For 2020, Midflorida's most frequently cited loan duration was 30 Year, with 1,290 originations. The 2nd most popular length was 20 Year, with 1,264 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 2,608 $461,580,000 $176,986
    $1k-2k 627 $202,615,000 $323,150
    $2k-3k 46 $13,720,000 $298,261
    $3k-4k 17 $6,345,000 $373,235
    $5k+ 11 $8,035,000 $730,455
    $4k-5k 6 $3,470,000 $578,333

    Midflorida's average total fees were $3,453, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2,608 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 1,837 $441,775,000 $240,487
    2.5-3% 977 $218,105,000 $223,240
    <2.5% 898 $98,510,000 $109,699
    4-5% 418 $46,740,000 $111,818
    5-6% 218 $12,460,000 $57,156
    6-7% 55 $3,025,000 $55,000
    7-8% 9 $335,000 $37,222
    Over 8% 4 $240,000 $60,000

    During 2020, Midflorida's average interest rate for loans was 3.30%, while their most frequently originated rate bucket for loans was 3-4%, with 1,837 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,766 $87,180,000 $49,366 $866 3.49%
    $100k-200k 1,260 $182,280,000 $144,667 $2,822 3.18%
    $200k-400k 1,033 $279,445,000 $270,518 $3,855 3.20%
    $400k-600k 199 $92,335,000 $463,995 $5,111 3.23%
    $600k-1MM 98 $73,430,000 $749,286 $6,595 3.25%
    $1MM+ 60 $106,520,000 $1,775,333 $9,684 3.31%

    2020 saw Midflorida place emphasis on $100,000 or less loans with 1,766 originations, totaling $87,180,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,057 $186,205,000 $176,164 $2,975 3.32%
    $50k-75k 894 $104,700,000 $117,114 $2,351 3.35%
    $75k-100k 785 $112,225,000 $142,962 $2,546 3.32%
    $50k or less 659 $57,725,000 $87,595 $1,976 3.44%
    $150k-250k 623 $140,045,000 $224,791 $3,455 3.16%
    $250k+ 324 $181,490,000 $560,154 $5,582 3.05%

    Midflorida lent most frequently to those with incomes in the $100k-150k range, with 1,057 originations. The second most popular income band? $50k-75k, with 894 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,298 $223,330,000 $172,057 $2,748 3.30%
    30-36% 966 $171,130,000 $177,153 $2,838 3.35%
    <20% 615 $113,185,000 $184,041 $2,756 3.15%
    42% 195 $40,875,000 $209,615 $3,484 3.32%
    37% 184 $36,500,000 $198,370 $2,994 3.26%
    41% 168 $34,780,000 $207,024 $3,244 3.26%
    36% 165 $26,565,000 $161,000 $2,678 3.38%
    39% 165 $29,865,000 $181,000 $2,979 3.36%
    38% 163 $30,535,000 $187,331 $2,965 3.37%
    40% 148 $27,320,000 $184,595 $2,811 3.44%
    43% 58 $6,510,000 $112,241 $1,788 3.44%
    44% 45 $5,615,000 $124,778 $2,369 3.11%
    >60% 32 $13,250,000 $414,063 $5,136 3.28%
    50-60% 29 $4,715,000 $162,586 $2,715 3.00%
    45% 28 $4,240,000 $151,429 $2,416 3.16%
    46% 27 $3,885,000 $143,889 $2,375 3.10%
    48% 21 $3,335,000 $158,810 $2,398 3.29%
    47% 19 $3,325,000 $175,000 $2,305 3.72%
    49% 15 $1,695,000 $113,000 $2,208 2.78%

    Midflorida lent most frequently to those with DTI ratios of 20-30%, with 1,298 originations. The next most common DTI ratio? 30-36%, with 966 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 3,718 $652,800,000 $175,578 $2,803 3.30%
    Not provided 330 $80,850,000 $245,000 $3,449 3.23%
    Not applicable 66 $37,860,000 $573,636 $2,432 4.22%
    Black 180 $24,790,000 $137,722 $2,254 3.57%
    Asian 84 $16,940,000 $201,667 $3,071 3.26%
    American Indian 17 $4,265,000 $250,882 $3,775 3.01%
    Asian Indian 6 $1,980,000 $330,000 $4,991 2.62%
    Filipino 6 $620,000 $103,333 $1,710 3.12%
    Other Asian 3 $495,000 $165,000 $3,112 3.12%
    Native Hawaiian or Islander 2 $190,000 $95,000 $1,537 4.81%
    Chinese 1 $165,000 $165,000 $0 1.99%
    Native Hawaiian 1 $145,000 $145,000 $3,742 2.88%
    Other Pacific Islander 1 $55,000 $55,000 $222 3.99%
    Vietnamese 1 $35,000 $35,000 $222 3.99%

    Approval Rates

    Total approvals of all applications
    78.75%

    Midflorida has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    60.44%

    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 4,416 $821,190,000 $185,958

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 29 $29,345,000 $1,011,897
    Single Family (1-4 Units):Manufactured 8 $370,000 $46,250
    Single Family (1-4 Units):Site-Built 4,379 $791,475,000 $180,743

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 813 $82,545,000 $101,531 $1,326 3.37%
    40-60% 674 $138,310,000 $205,208 $2,940 3.17%
    60-80% 1,301 $372,055,000 $285,976 $3,640 3.29%
    80-100% 707 $191,145,000 $270,361 $3,886 3.32%
    Over 100% 1 $305,000 $305,000 $15,095 2.75%
    Under 20% 920 $36,830,000 $40,033 $251 3.41%