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. Their top markets by origination volume include: Lakeland, Tampa, Naples, Port St. Lucie, and Orlando 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

    4,783

    Origination Dollar Volume (All Markets)

    $922,625,000
    Show all (12) 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) 1,784 $296,170,000 $166,015 $2,988 3.03%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1,118 $207,360,000 $185,474 $3,044 2.99%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 79 $79,405,000 $1,005,127 $6,677 2.99%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 342 $58,290,000 $170,439 $2,824 2.91%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 235 $48,945,000 $208,277 $3,080 2.98%
    OCALA, FL (FHA|USDA|VA) 204 $38,400,000 $188,235 $3,281 2.83%
    SEBRING-AVON PARK, FL (FHA|USDA|VA) 337 $36,425,000 $108,086 $2,313 3.11%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 147 $23,895,000 $162,551 $2,323 2.97%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 38 $16,290,000 $428,684 $4,787 2.71%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 61 $14,965,000 $245,328 $4,235 2.74%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 21 $14,675,000 $698,810 $3,984 2.95%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 62 $13,030,000 $210,161 $4,798 3.19%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 52 $12,600,000 $242,308 $3,300 2.97%
    THE VILLAGES, FL (FHA|USDA|VA) 75 $11,845,000 $157,933 $3,202 2.65%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 21 $10,265,000 $488,810 $4,629 2.90%
    Wauchula, FL (FHA|USDA|VA) 49 $8,365,000 $170,714 $3,613 3.31%
    Okeechobee, FL (FHA|USDA|VA) 46 $7,510,000 $163,261 $3,266 3.10%
    PUNTA GORDA, FL (FHA|USDA|VA) 25 $6,215,000 $248,600 $3,990 2.88%
    GAINESVILLE, FL (FHA|USDA|VA) 20 $5,890,000 $294,500 $4,922 2.92%
    Arcadia, FL (FHA|USDA|VA) 27 $4,695,000 $173,889 $3,188 2.93%
    Outside of Metro Areas 14 $2,240,000 $160,000 $3,451 2.95%
    JACKSONVILLE, FL (FHA|USDA|VA) 11 $1,965,000 $178,636 $7,314 2.31%
    SAVANNAH, GA (FHA|USDA|VA) 1 $925,000 $925,000 $7,577 3.25%
    TALLAHASSEE, FL (FHA|USDA|VA) 5 $765,000 $153,000 $3,179 2.95%
    Lake City, FL (FHA|USDA|VA) 3 $765,000 $255,000 $4,597 3.83%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $320,000 $160,000 $3,295 3.69%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $205,000 $205,000 $3,753 3.00%
    CEDAR RAPIDS, IA (FHA|USDA|VA) 1 $115,000 $115,000 $2,998 3.38%
    Palatka, FL (FHA|USDA|VA) 1 $55,000 $55,000 $206 4.24%
    Clewiston, FL (FHA|USDA|VA) 1 $35,000 $35,000 $0 1.99%
    Midflorida's top markets include Lakeland, Tampa, Naples, Port St. Lucie, and Orlando among others.

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

    LAUNCH FEDERAL CREDIT UNION
    Similarity Rank: 1272
    NTFN, INC.
    Similarity Rank: 1521
    SAN ANTONIO CITIZENS
    Similarity Rank: 1792
    RAILROAD & INDUSTRIAL
    Similarity Rank: 1974
    TROPICAL FINANCIAL CREDIT UNION
    Similarity Rank: 2052
    Allied First Bank,sb
    Similarity Rank: 2133
    NEAL COMMUNITIES FUNDING, LLC
    Similarity Rank: 2428
    Sanibel Captiva Community Bank
    Similarity Rank: 2448
    Citizens First Bank
    Similarity Rank: 2504
    Brannen Bank
    Similarity Rank: 2802

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 3,333 $768,565,000 $230,593 $3,110 3.42%
    HELOC 1,450 $154,060,000 $106,248 n/a 2.01%

    For 2021, Midflorida's most frequently originated type of loan was Conventional, with 3,333 originations. Their 2nd most popular type was HELOC, with 1,450 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 1,635 $321,965,000 $196,920 $2,784 3.04%
    Home Purchase 1,288 $433,070,000 $336,234 $4,811 3.21%
    Home Improvement 1,228 $91,650,000 $74,634 $394 2.70%
    Other 440 $39,600,000 $90,000 $198 2.98%
    Cash Out Refi 192 $36,340,000 $189,271 $3,356 3.08%

    For 2021, Midflorida's most frequently cited loan purpose was Refi, with 1,635 originations. The 2nd most popular reason was Home Purchase, with 1,288 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 1,716 $195,030,000 $113,654 $1,926 2.30%
    30 Year 1,132 $266,120,000 $235,088 $3,577 3.17%
    15 Year 610 $105,790,000 $173,426 $2,542 3.14%
    30+ year 588 $231,630,000 $393,929 $5,734 3.33%
    10 Year 390 $71,210,000 $182,590 $782 4.04%
    5 Year 187 $9,835,000 $52,594 $178 3.92%
    Other 130 $38,220,000 $294,000 $3,039 3.55%
    1 Year 21 $2,825,000 $134,524 $862 4.78%
    3 Year 9 $1,965,000 $218,333 $225 4.05%

    For 2021, Midflorida's most frequently cited loan duration was 20 Year, with 1,716 originations. The 2nd most popular length was 30 Year, with 1,132 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 2,195 $360,625,000 $164,294
    $1k-2k 903 $297,315,000 $329,252
    $2k-3k 114 $33,190,000 $291,140
    $3k-4k 29 $11,825,000 $407,759
    $5k+ 14 $7,890,000 $563,571
    $4k-5k 8 $3,920,000 $490,000

    Midflorida's average total fees were $3,577, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2,195 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 1,674 $204,470,000 $122,145
    3-4% 1,513 $436,245,000 $288,331
    2.5-3% 964 $231,550,000 $240,197
    4-5% 562 $44,990,000 $80,053
    5-6% 60 $4,580,000 $76,333
    6-7% 9 $665,000 $73,889
    7-8% 1 $125,000 $125,000

    During 2021, Midflorida's average interest rate for loans was 3.17%, while their most frequently originated rate bucket for loans was <2.5%, with 1,674 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,842 $94,230,000 $51,156 $859 3.01%
    $100k-200k 1,472 $208,880,000 $141,902 $2,918 2.94%
    $200k-400k 1,063 $292,675,000 $275,329 $4,272 3.02%
    $400k-600k 249 $119,265,000 $478,976 $5,821 3.06%
    $600k-1MM 93 $70,855,000 $761,882 $7,249 3.14%
    $1MM+ 64 $136,720,000 $2,136,250 $10,609 3.12%

    2021 saw Midflorida place emphasis on $100,000 or less loans with 1,842 originations, totaling $94,230,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,062 $183,450,000 $172,740 $3,148 2.98%
    $50k-75k 1,002 $120,670,000 $120,429 $2,551 3.07%
    $75k-100k 879 $127,955,000 $145,569 $2,941 2.98%
    $50k or less 717 $66,875,000 $93,271 $2,295 3.08%
    $150k-250k 672 $163,380,000 $243,125 $3,856 2.90%
    $250k+ 351 $202,245,000 $576,197 $6,306 2.72%

    Midflorida lent most frequently to those with incomes in the $100k-150k range, with 1,062 originations. The second most popular income band? $50k-75k, with 1,002 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,361 $226,615,000 $166,506 $2,869 2.95%
    30-36% 1,025 $181,245,000 $176,824 $3,056 3.06%
    <20% 641 $115,295,000 $179,867 $2,761 2.79%
    42% 233 $61,045,000 $261,996 $4,183 3.17%
    39% 203 $38,915,000 $191,700 $3,536 3.02%
    40% 200 $41,760,000 $208,800 $3,475 3.13%
    38% 197 $40,875,000 $207,487 $3,449 2.98%
    36% 181 $33,695,000 $186,160 $3,119 3.08%
    41% 170 $39,400,000 $231,765 $3,838 3.04%
    37% 166 $28,870,000 $173,916 $3,490 3.03%
    44% 69 $9,285,000 $134,565 $2,212 3.11%
    43% 55 $7,685,000 $139,727 $2,546 2.80%
    50-60% 39 $9,315,000 $238,846 $1,878 2.75%
    45% 36 $5,330,000 $148,056 $2,451 2.74%
    46% 36 $6,290,000 $174,722 $2,332 2.88%
    >60% 31 $10,335,000 $333,387 $2,304 2.70%
    47% 26 $3,980,000 $153,077 $2,573 3.24%
    48% 23 $3,375,000 $146,739 $2,336 2.63%
    49% 17 $4,805,000 $282,647 $4,022 2.92%

    Midflorida lent most frequently to those with DTI ratios of 20-30%, with 1,361 originations. The next most common DTI ratio? 30-36%, with 1,025 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 4,049 $725,345,000 $179,142 $3,005 2.96%
    Not provided 310 $87,020,000 $280,710 $4,282 3.13%
    Not applicable 57 $50,295,000 $882,368 $3,904 3.91%
    Black 252 $36,290,000 $144,008 $2,575 3.22%
    Asian 81 $15,575,000 $192,284 $3,223 2.79%
    American Indian 16 $2,840,000 $177,500 $2,965 3.00%
    Asian Indian 6 $1,840,000 $306,667 $6,007 2.35%
    Other Pacific Islander 3 $1,725,000 $575,000 $5,233 4.37%
    Other Asian 6 $1,040,000 $173,333 $3,579 3.19%
    Vietnamese 1 $385,000 $385,000 $0 1.99%
    Japanese 1 $135,000 $135,000 $2,655 2.88%
    Native Hawaiian or Islander 1 $135,000 $135,000 $2,614 2.63%

    Approval Rates

    Total approvals of all applications
    80.86%

    Midflorida has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    66.63%

    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 4,783 $922,625,000 $192,897

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    4,783 $922,625,000 $192,897

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 960 $107,950,000 $112,448 $1,528 2.86%
    40-60% 898 $203,090,000 $226,158 $3,301 2.96%
    60-80% 1,315 $422,205,000 $321,068 $4,202 3.13%
    80-100% 485 $134,995,000 $278,340 $4,398 3.20%
    Under 20% 1,125 $54,385,000 $48,342 $287 2.89%