Firefly Mortgage Rates, Fees & Info

Burnsville, MN

LEI: 549300VJNXT4X0NJO497

Tax ID: 41-0415415

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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

    Firefly is a smaller mortgage company specializing in Other and Cash Out Refi loans. Firefly 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: Minneapolis, Faribault, Atlanta, Red Wing, and Phoenix among others. We have data for 28 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Firefly 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. Firefly 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.


    Originations

    1,596

    Origination Dollar Volume (All Markets)

    $143,740,000

    Awards

    FIREFLY 30 Year Conventional Loans bronze FIREFLY 30 Year Conventional Loans bronze
    Show all (2) 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
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1,431 $127,395,000 $89,025 $1,042 4.74%
    Faribault-Northfield, MN (FHA|USDA|VA) 46 $4,590,000 $99,783 $935 4.94%
    Outside of Metro Areas 29 $2,215,000 $76,379 $1,031 4.79%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 18 $1,430,000 $79,444 $358 4.60%
    Red Wing, MN (FHA|USDA|VA) 10 $1,240,000 $124,000 $1,379 4.50%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 7 $1,155,000 $165,000 $3,519 4.26%
    Brainerd, MN (FHA|USDA|VA) 10 $1,150,000 $115,000 $1,528 4.47%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 5 $1,035,000 $207,000 $3,215 4.37%
    DULUTH, MN-WI (FHA|USDA|VA) 7 $665,000 $95,000 $1,583 4.40%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $345,000 $345,000 $8,687 4.63%
    Hutchinson, MN (FHA|USDA|VA) 3 $345,000 $115,000 $2,549 5.08%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 5 $315,000 $63,000 $1,020 4.40%
    ST. CLOUD, MN (FHA|USDA|VA) 5 $295,000 $59,000 $617 5.37%
    LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 2 $280,000 $140,000 $105 4.55%
    Grand Rapids, MN (FHA|USDA|VA) 2 $230,000 $115,000 $0 4.50%
    Owatonna, MN (FHA|USDA|VA) 2 $200,000 $100,000 $129 5.10%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $135,000 $135,000 $3,230 4.13%
    TUCSON, AZ (FHA|USDA|VA) 2 $130,000 $65,000 $2,700 4.56%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $125,000 $125,000 $2,939 4.88%
    FARGO, ND-MN (FHA|USDA|VA) 1 $95,000 $95,000 $162 4.72%
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $75,000 $75,000 $0 5.50%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $75,000 $75,000 $0 4.50%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $65,000 $65,000 $0 4.50%
    Austin, MN (FHA|USDA|VA) 1 $45,000 $45,000 $162 6.08%
    CLEVELAND, TN (FHA|USDA|VA) 1 $35,000 $35,000 $0 5.00%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $25,000 $25,000 $162 4.08%
    MANKATO, MN (FHA|USDA|VA) 1 $25,000 $25,000 $162 3.97%
    EAU CLAIRE, WI (FHA|USDA|VA) 1 $25,000 $25,000 $182 3.59%
    Firefly's top markets include Minneapolis, Faribault, Atlanta, Red Wing, and Phoenix among others.

    Their top states include:
  • Minnesota (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against FIREFLY based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Cornerstone State Bank
    Similarity Rank: 408
    MEMBERS COOPERATIVE
    Similarity Rank: 630
    WESTconsin Credit Union
    Similarity Rank: 795
    SHAREPOINT CREDIT UNION
    Similarity Rank: 816
    South Metro Federal Credit Union
    Similarity Rank: 882
    First National Bank of Elk River
    Similarity Rank: 984
    Liberty Bank Minnesota
    Similarity Rank: 1080
    ST. CLOUD FINANCIAL
    Similarity Rank: 1150
    First State Bank and Trust
    Similarity Rank: 1162
    St. Paul Federal Credit Union
    Similarity Rank: 1197

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 949 $103,735,000 $109,310 $1,068 4.59%
    HELOC 646 $39,970,000 $61,873 n/a 4.94%
    FHA 1 $35,000 $35,000 $0 4.50%

    For 2018, Firefly's most frequently originated type of loan was Conventional, with 949 originations. Their 2nd most popular type was HELOC, with 646 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 692 $39,300,000 $56,792 $164 5.03%
    Home Improvement 322 $20,670,000 $64,193 $488 4.72%
    Cash Out Refi 291 $36,965,000 $127,027 $1,228 4.39%
    Refi 152 $20,610,000 $135,592 $1,159 4.14%
    Home Purchase 127 $25,395,000 $199,961 $3,789 4.61%
    NA 12 $800,000 $66,667 $188 5.46%

    For 2018, Firefly's most frequently cited loan purpose was Other, with 692 originations. The 2nd most popular reason was Home Improvement, with 322 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 417 $35,395,000 $84,880 $310 4.85%
    15 Year 374 $40,120,000 $107,273 $857 4.82%
    20 Year 372 $24,770,000 $66,586 $1,117 4.86%
    10 Year 160 $10,540,000 $65,875 $447 4.77%
    5 Year 141 $5,165,000 $36,631 $162 3.97%
    30 Year 130 $27,730,000 $213,308 $3,951 4.53%
    3 Year 2 $20,000 $10,000 $162 4.12%

    For 2018, Firefly's most frequently cited loan duration was Other, with 417 originations. The 2nd most popular length was 15 Year, with 374 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 139 $21,475,000 $154,496
    $<1k 87 $12,025,000 $138,218
    $2k-3k 55 $11,515,000 $209,364
    $3k-4k 25 $7,555,000 $302,200
    $4k-5k 4 $1,470,000 $367,500

    Firefly's average total fees were $3,951, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 139 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 842 $81,160,000 $96,390
    3-4% 340 $39,390,000 $115,853
    5-6% 233 $12,665,000 $54,356
    6-7% 143 $7,905,000 $55,280
    7-8% 23 $985,000 $42,826
    2.5-3% 10 $1,270,000 $127,000
    Over 8% 5 $365,000 $73,000

    During 2018, Firefly's average interest rate for loans was 4.53%, while their most frequently originated rate bucket for loans was 4-5%, with 842 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,065 $49,025,000 $46,033 $304 4.92%
    $100k-200k 361 $50,745,000 $140,568 $1,532 4.34%
    $200k-400k 166 $41,480,000 $249,880 $2,753 4.38%
    $400k-600k 3 $1,335,000 $445,000 $3,544 4.58%
    $1MM+ 1 $1,155,000 $1,155,000 $0 4.75%

    2018 saw Firefly place emphasis on $100,000 or less loans with 1,065 originations, totaling $49,025,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 402 $38,430,000 $95,597 $1,159 4.75%
    $50k-75k 359 $29,365,000 $81,797 $1,167 4.66%
    $75k-100k 342 $29,960,000 $87,602 $1,176 4.76%
    $150k-250k 260 $24,100,000 $92,692 $784 4.77%
    $50k or less 160 $10,440,000 $65,250 $815 4.61%
    $250k+ 45 $5,595,000 $124,333 $707 4.82%

    Firefly lent most frequently to those with incomes in the $100k-150k range, with 402 originations. The second most popular income band? $50k-75k, with 359 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 406 $33,920,000 $83,547 $918 4.63%
    30-36% 304 $26,020,000 $85,592 $910 4.68%
    <20% 203 $18,125,000 $89,286 $922 4.38%
    50-60% 70 $5,120,000 $73,143 $226 4.98%
    36% 64 $6,500,000 $101,563 $1,441 5.00%
    42% 59 $5,445,000 $92,288 $1,078 5.02%
    37% 47 $4,585,000 $97,553 $1,299 4.83%
    41% 47 $4,045,000 $86,064 $1,393 4.82%
    43% 45 $4,965,000 $110,333 $1,749 5.07%
    39% 45 $3,775,000 $83,889 $954 5.01%
    40% 40 $3,830,000 $95,750 $874 4.84%
    38% 38 $3,490,000 $91,842 $894 4.81%
    46% 33 $2,625,000 $79,545 $1,473 4.99%
    44% 30 $3,080,000 $102,667 $1,127 4.67%
    48% 30 $2,650,000 $88,333 $1,829 4.89%
    45% 25 $1,785,000 $71,400 $748 4.91%
    47% 25 $1,685,000 $67,400 $803 4.63%
    49% 20 $1,210,000 $60,500 $162 4.76%
    >60% 19 $1,885,000 $99,211 $552 5.17%

    Firefly lent most frequently to those with DTI ratios of 20-30%, with 406 originations. The next most common DTI ratio? 30-36%, with 304 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,389 $119,085,000 $85,734 $971 4.72%
    Not provided 64 $7,680,000 $120,000 $1,961 4.56%
    Black 64 $6,190,000 $96,719 $1,494 4.95%
    Asian 48 $5,670,000 $118,125 $1,416 4.63%
    Not applicable 18 $3,860,000 $214,444 $3,976 5.56%
    Asian Indian 4 $520,000 $130,000 $162 4.90%
    American Indian 4 $500,000 $125,000 $1,528 4.20%
    Native Hawaiian or Islander 2 $100,000 $50,000 $162 5.25%
    Other Asian 2 $90,000 $45,000 $162 5.12%
    Chinese 1 $45,000 $45,000 $162 4.99%

    Approval Rates

    Total approvals of all applications
    89.15%

    Firefly has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.14%

    Firefly has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,596 $143,740,000 $90,063

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $1,155,000 $1,155,000
    Single Family (1-4 Units):Manufactured 4 $290,000 $72,500
    Single Family (1-4 Units):Site-Built 1,591 $142,295,000 $89,437

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 370 $30,150,000 $81,486 $513 4.83%
    40-60% 118 $14,980,000 $126,949 $1,311 4.26%
    60-80% 214 $40,270,000 $188,178 $1,573 4.14%
    80-100% 103 $22,045,000 $214,029 $3,111 4.49%
    Under 20% 760 $30,230,000 $39,776 $169 4.97%