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, Port St. Lucie, Naples, and Orlando among others. We have data for 29 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% 4/28/24
    30 Year Conventional Purchase 5.89% 4/28/24
    30 Year Conventional Refi 6.48% 4/28/24
    30 Year Cash-out Refi 6.46% 4/28/24
    30 Year FHA Purchase 6.13% 4/28/24
    30 Year FHA Refi 6.27% 4/28/24
    30 Year VA Purchase 5.27% 4/28/24
    30 Year VA Refi 6.27% 4/28/24
    30 Year USDA Purchase 5.83% 4/28/24
    30 Year USDA Refi 6.27% 4/28/24
    15 Year Conventional Purchase 5.58% 4/28/24
    15 Year Conventional Refi 6.48% 4/28/24
    15 Year Cash-out Refi 6.48% 4/28/24
    15 Year FHA Refi 5.68% 4/28/24
    15 Year VA Purchase 4.53% 4/28/24
    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

    4,759

    Origination Dollar Volume (All Markets)

    $848,565,000
    Show all (19) 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) 1,605 $238,715,000 $148,732 $2,552 3.80%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1,202 $218,020,000 $181,381 $2,762 3.51%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 356 $56,850,000 $159,691 $2,671 3.58%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 68 $51,480,000 $757,059 $8,649 3.26%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 268 $45,190,000 $168,619 $2,517 3.32%
    OCALA, FL (FHA|USDA|VA) 237 $43,385,000 $183,059 $3,544 3.51%
    SEBRING-AVON PARK, FL (FHA|USDA|VA) 313 $36,355,000 $116,150 $2,211 3.97%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 87 $23,485,000 $269,943 $2,981 3.57%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 153 $17,815,000 $116,438 $1,725 3.85%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 46 $17,670,000 $384,130 $6,438 3.45%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 54 $17,110,000 $316,852 $3,927 3.69%
    THE VILLAGES, FL (FHA|USDA|VA) 65 $13,565,000 $208,692 $3,900 3.22%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 45 $10,865,000 $241,444 $5,045 3.85%
    GAINESVILLE, FL (FHA|USDA|VA) 26 $9,790,000 $376,538 $5,632 4.38%
    JACKSONVILLE, FL (FHA|USDA|VA) 24 $8,580,000 $357,500 $4,737 3.99%
    Wauchula, FL (FHA|USDA|VA) 47 $7,585,000 $161,383 $3,396 4.17%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 28 $7,440,000 $265,714 $5,798 3.77%
    PUNTA GORDA, FL (FHA|USDA|VA) 29 $6,605,000 $227,759 $4,238 3.82%
    Okeechobee, FL (FHA|USDA|VA) 42 $5,880,000 $140,000 $3,020 4.22%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 22 $5,360,000 $243,636 $2,539 3.49%
    Arcadia, FL (FHA|USDA|VA) 25 $4,085,000 $163,400 $3,548 3.88%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 2 $520,000 $260,000 $3,946 5.00%
    Outside of Metro Areas 5 $505,000 $101,000 $3,670 4.42%
    Clewiston, FL (FHA|USDA|VA) 2 $390,000 $195,000 $4,930 3.81%
    Palatka, FL (FHA|USDA|VA) 2 $390,000 $195,000 $4,855 4.44%
    TALLAHASSEE, FL (FHA|USDA|VA) 3 $285,000 $95,000 $2,189 5.16%
    Cullowhee, NC (FHA|USDA|VA) 1 $275,000 $275,000 $4,111 4.88%
    Lake City, FL (FHA|USDA|VA) 1 $235,000 $235,000 $3,730 4.75%
    Scottsboro, AL (FHA|USDA|VA) 1 $135,000 $135,000 $4,353 6.00%
    Midflorida's top markets include Lakeland, Tampa, Port St. Lucie, Naples, and Orlando among others.

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

    RAILROAD & INDUSTRIAL
    Similarity Rank: 335
    SAN ANTONIO CITIZENS
    Similarity Rank: 340
    NTFN, INC.
    Similarity Rank: 515
    METROPLEX MORTGAGE SERVICES, INC.
    Similarity Rank: 644
    INSIGHT
    Similarity Rank: 780
    POLISH & SLAVIC FEDERAL CREDIT UNION
    Similarity Rank: 825
    First Foundation Bank
    Similarity Rank: 858
    CAMPUS USA
    Similarity Rank: 1008
    ADDITION FINANCIAL
    Similarity Rank: 1170
    FLORIDA
    Similarity Rank: 1260

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 3,147 $658,675,000 $209,303 $2,873 4.69%
    HELOC 1,612 $189,890,000 $117,798 n/a 1.68%

    For 2022, Midflorida's most frequently originated type of loan was Conventional, with 3,147 originations. Their 2nd most popular type was HELOC, with 1,612 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 1,840 $149,170,000 $81,071 $262 3.20%
    Home Purchase 1,150 $421,400,000 $366,435 $5,903 4.22%
    Refi 1,022 $187,080,000 $183,053 $2,594 3.86%
    Other 574 $52,840,000 $92,056 $169 3.64%
    Cash Out Refi 173 $38,075,000 $220,087 $3,844 4.09%

    For 2022, Midflorida's most frequently cited loan purpose was Home Improvement, with 1,840 originations. The 2nd most popular reason was Home Purchase, with 1,150 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 1,918 $225,080,000 $117,351 $542 2.32%
    30 Year 800 $223,020,000 $278,775 $4,248 4.43%
    10 Year 608 $52,710,000 $86,694 $444 4.82%
    30+ year 525 $242,045,000 $461,038 $7,698 4.34%
    15 Year 497 $58,715,000 $118,139 $1,261 4.84%
    5 Year 237 $9,355,000 $39,473 $188 4.61%
    Other 144 $31,330,000 $217,569 $2,679 4.33%
    1 Year 19 $4,285,000 $225,526 $1,288 5.50%
    3 Year 11 $2,025,000 $184,091 $166 4.73%

    For 2022, Midflorida's most frequently cited loan duration was 20 Year, with 1,918 originations. The 2nd most popular length was 30 Year, with 800 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 2,138 $275,930,000 $129,060
    $1k-2k 469 $145,505,000 $310,245
    $2k-3k 159 $45,755,000 $287,767
    $3k-4k 140 $47,680,000 $340,571
    $4k-5k 106 $48,500,000 $457,547
    $5k+ 81 $75,165,000 $927,963

    Midflorida's average total fees were $4,248, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2,138 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 1,532 $181,980,000 $118,786
    4-5% 1,141 $233,225,000 $204,404
    5-6% 887 $140,325,000 $158,202
    3-4% 829 $217,365,000 $262,201
    6-7% 222 $32,040,000 $144,324
    2.5-3% 111 $39,255,000 $353,649
    7-8% 34 $4,100,000 $120,588
    Over 8% 3 $275,000 $91,667

    During 2022, Midflorida's average interest rate for loans was 4.43%, while their most frequently originated rate bucket for loans was <2.5%, with 1,532 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 2,302 $116,000,000 $50,391 $390 3.65%
    $100k-200k 1,054 $144,270,000 $136,879 $2,552 3.51%
    $200k-400k 926 $259,010,000 $279,708 $4,774 3.77%
    $400k-600k 301 $142,445,000 $473,239 $6,879 3.90%
    $600k-1MM 112 $79,990,000 $714,196 $8,560 4.16%
    $1MM+ 64 $106,850,000 $1,669,531 $14,823 3.91%

    2022 saw Midflorida place emphasis on $100,000 or less loans with 2,302 originations, totaling $116,000,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,188 $190,740,000 $160,556 $2,745 3.66%
    $50k-75k 894 $92,230,000 $103,166 $2,086 3.86%
    $150k-250k 834 $178,480,000 $214,005 $3,515 3.49%
    $75k-100k 801 $105,095,000 $131,205 $2,416 3.82%
    $50k or less 508 $39,360,000 $77,480 $1,753 3.77%
    $250k+ 447 $218,975,000 $489,877 $6,995 3.20%

    Midflorida lent most frequently to those with incomes in the $100k-150k range, with 1,188 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% 1,320 $193,030,000 $146,235 $2,067 3.64%
    30-36% 1,026 $177,100,000 $172,612 $2,759 3.72%
    <20% 573 $93,725,000 $163,569 $2,151 3.26%
    42% 315 $84,775,000 $269,127 $4,827 3.99%
    38% 221 $43,295,000 $195,905 $3,304 3.70%
    40% 209 $49,785,000 $238,206 $3,949 3.87%
    41% 198 $40,100,000 $202,525 $4,175 3.93%
    36% 183 $31,165,000 $170,301 $2,982 3.83%
    39% 178 $34,500,000 $193,820 $3,371 3.73%
    37% 175 $27,585,000 $157,629 $2,707 3.85%
    43% 89 $11,125,000 $125,000 $1,973 3.46%
    45% 44 $8,120,000 $184,545 $3,948 3.17%
    44% 41 $5,065,000 $123,537 $1,927 3.63%
    50-60% 39 $5,855,000 $150,128 $1,675 2.69%
    46% 25 $7,225,000 $289,000 $5,334 3.63%
    48% 22 $5,810,000 $264,091 $4,646 3.91%
    47% 20 $5,530,000 $276,500 $4,915 3.19%
    49% 13 $1,935,000 $148,846 $2,866 3.13%
    >60% 10 $1,470,000 $147,000 $1,203 3.69%

    Midflorida lent most frequently to those with DTI ratios of 20-30%, with 1,320 originations. The next most common DTI ratio? 30-36%, with 1,026 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 3,881 $663,485,000 $170,957 $2,740 3.65%
    Not provided 409 $89,725,000 $219,377 $3,890 3.67%
    Black 279 $44,835,000 $160,699 $2,742 3.75%
    Not applicable 49 $19,815,000 $404,388 $0 4.69%
    Asian 82 $19,310,000 $235,488 $4,068 3.70%
    Asian Indian 22 $4,330,000 $196,818 $1,969 3.50%
    American Indian 14 $2,850,000 $203,571 $4,808 4.43%
    Other Asian 6 $1,670,000 $278,333 $5,650 2.95%
    Chinese 4 $940,000 $235,000 $3,150 3.24%
    Other Pacific Islander 3 $575,000 $191,667 $2,106 3.66%
    Native Hawaiian or Islander 4 $400,000 $100,000 $181 3.24%
    Filipino 3 $295,000 $98,333 $141 2.16%
    Japanese 1 $205,000 $205,000 $141 5.24%
    Vietnamese 1 $85,000 $85,000 $141 5.24%
    Guamanian 1 $45,000 $45,000 $141 5.74%

    Approval Rates

    Total approvals of all applications
    74.44%

    Midflorida has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    71.93%

    Midflorida has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 4,759 $848,565,000 $178,307

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    4,759 $848,565,000 $178,307

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1,015 $135,285,000 $133,286 $1,381 3.31%
    40-60% 604 $160,010,000 $264,917 $3,936 3.77%
    60-80% 859 $321,265,000 $373,999 $5,596 4.12%
    80-100% 334 $123,160,000 $368,743 $5,835 4.43%
    Under 20% 1,947 $108,845,000 $55,904 $230 3.50%