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. Their top markets by origination volume include: Minneapolis, Faribault, Atlanta, Brainerd, and Phoenix among others. We have data for 37 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Firefly has an above 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.

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    Originations

    1,823

    Origination Dollar Volume (All Markets)

    $184,815,000

    Awards

    FIREFLY 30 Year Conventional Loans silver FIREFLY 30 Year Conventional Loans gold
    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) 1,618 $163,710,000 $101,180 $1,257 4.83%
    Faribault-Northfield, MN (FHA|USDA|VA) 51 $6,315,000 $123,824 $1,855 4.67%
    Outside of Metro Areas 39 $3,065,000 $78,590 $1,075 4.90%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 20 $1,940,000 $97,000 $2,136 5.17%
    Brainerd, MN (FHA|USDA|VA) 10 $1,170,000 $117,000 $1,384 4.47%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 8 $920,000 $115,000 $3,419 3.89%
    Hutchinson, MN (FHA|USDA|VA) 9 $765,000 $85,000 $1,788 5.56%
    DULUTH, MN-WI (FHA|USDA|VA) 7 $715,000 $102,143 $1,610 3.75%
    ST. CLOUD, MN (FHA|USDA|VA) 6 $640,000 $106,667 $587 4.44%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 8 $550,000 $68,750 $714 5.63%
    LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 3 $535,000 $178,333 $2,126 4.47%
    Red Wing, MN (FHA|USDA|VA) 7 $425,000 $60,714 $162 5.23%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 2 $350,000 $175,000 $1,725 5.50%
    GREEN BAY, WI (FHA|USDA|VA) 2 $350,000 $175,000 $0 4.75%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 2 $340,000 $170,000 $2,585 4.07%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $335,000 $335,000 $6,189 3.00%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $265,000 $265,000 $6,334 4.00%
    Menomonie, WI (FHA|USDA|VA) 4 $240,000 $60,000 $1,270 4.50%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $235,000 $235,000 $5,033 3.75%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $230,000 $115,000 $1,494 3.77%
    Owatonna, MN (FHA|USDA|VA) 2 $210,000 $105,000 $162 5.07%
    Grand Rapids, MN (FHA|USDA|VA) 1 $205,000 $205,000 $0 6.00%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $170,000 $85,000 $157 3.88%
    SAVANNAH, GA (FHA|USDA|VA) 1 $165,000 $165,000 $3,926 3.13%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $145,000 $145,000 $0 5.00%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $125,000 $125,000 $157 5.17%
    MANKATO, MN (FHA|USDA|VA) 1 $125,000 $125,000 $3,966 4.38%
    Fergus Falls, MN (FHA|USDA|VA) 1 $105,000 $105,000 $0 4.75%
    TUCSON, AZ (FHA|USDA|VA) 1 $95,000 $95,000 $2,867 3.13%
    Alexandria, MN (FHA|USDA|VA) 2 $70,000 $35,000 $162 5.69%
    Willmar, MN (FHA|USDA|VA) 2 $70,000 $35,000 $2,053 4.31%
    OSHKOSH-NEENAH, WI (FHA|USDA|VA) 1 $65,000 $65,000 $0 4.50%
    MADISON, WI (FHA|USDA|VA) 2 $60,000 $30,000 $197 5.75%
    MACON-BIBB COUNTY, GA (FHA|USDA|VA) 1 $55,000 $55,000 $172 7.99%
    ROCHESTER, MN (FHA|USDA|VA) 1 $25,000 $25,000 $0 5.00%
    HINESVILLE, GA (FHA|USDA|VA) 1 $15,000 $15,000 $162 3.69%
    ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 1 $15,000 $15,000 $172 4.95%
    Firefly's top markets include Minneapolis, Faribault, Atlanta, Brainerd, and Phoenix among others.

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

    ST. CLOUD FINANCIAL
    Similarity Rank: 978
    South Metro Federal Credit Union
    Similarity Rank: 1088
    First National Bank of Elk River
    Similarity Rank: 1110
    WESTconsin Credit Union
    Similarity Rank: 1216
    IDEAL
    Similarity Rank: 1221
    Liberty Bank Minnesota
    Similarity Rank: 1344
    SPIRE Credit Union
    Similarity Rank: 1368
    FLAT BRANCH MORTGAGE, INC.
    Similarity Rank: 1518
    Cornerstone State Bank
    Similarity Rank: 2002
    TOPLINE FEDERAL CREDIT UNION
    Similarity Rank: 2100

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,111 $140,515,000 $126,476 $1,301 4.58%
    HELOC 712 $44,300,000 $62,219 n/a 5.20%

    For 2019, Firefly's most frequently originated type of loan was Conventional, with 1,111 originations. Their 2nd most popular type was HELOC, with 712 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 798 $49,040,000 $61,454 $164 5.22%
    Home Improvement 348 $26,300,000 $75,575 $515 4.91%
    Cash Out Refi 286 $43,500,000 $152,098 $2,127 4.36%
    Refi 224 $34,970,000 $156,116 $1,412 4.35%
    Home Purchase 159 $30,295,000 $190,535 $3,676 4.08%
    NA 8 $710,000 $88,750 $162 5.59%

    For 2019, Firefly's most frequently cited loan purpose was Other, with 798 originations. The 2nd most popular reason was Home Improvement, with 348 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 582 $44,220,000 $75,979 $1,428 5.10%
    15 Year 430 $50,960,000 $118,512 $843 4.88%
    Other 303 $24,675,000 $81,436 $215 5.09%
    30 Year 188 $43,100,000 $229,255 $4,328 3.85%
    10 Year 175 $11,275,000 $64,429 $472 4.79%
    5 Year 143 $10,555,000 $73,811 $162 4.28%
    3 Year 2 $30,000 $15,000 $162 3.88%

    For 2019, Firefly's most frequently cited loan duration was 20 Year, with 582 originations. The 2nd most popular length was 15 Year, with 430 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 273 $23,755,000 $87,015
    $1k-2k 161 $26,195,000 $162,702
    $2k-3k 93 $20,115,000 $216,290
    $3k-4k 50 $15,850,000 $317,000
    $4k-5k 14 $6,000,000 $428,571
    $5k+ 2 $950,000 $475,000

    Firefly's average total fees were $4,328, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 273 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 757 $70,875,000 $93,626
    3-4% 497 $78,285,000 $157,515
    5-6% 309 $19,515,000 $63,155
    6-7% 177 $8,685,000 $49,068
    7-8% 35 $1,555,000 $44,429
    2.5-3% 22 $4,670,000 $212,273
    Over 8% 21 $1,015,000 $48,333
    <2.5% 5 $215,000 $43,000

    During 2019, Firefly's average interest rate for loans was 3.85%, while their most frequently originated rate bucket for loans was 4-5%, with 757 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,165 $54,725,000 $46,974 $314 5.21%
    $100k-200k 400 $57,600,000 $144,000 $1,627 4.28%
    $200k-400k 239 $60,475,000 $253,033 $2,984 3.92%
    $400k-600k 15 $6,575,000 $438,333 $6,706 3.80%
    $1MM+ 2 $4,180,000 $2,090,000 $0 4.67%
    $600k-1MM 2 $1,260,000 $630,000 $5,489 3.88%

    2019 saw Firefly place emphasis on $100,000 or less loans with 1,165 originations, totaling $54,725,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 484 $50,110,000 $103,533 $1,345 4.87%
    $50k-75k 387 $32,835,000 $84,845 $1,163 4.87%
    $75k-100k 351 $31,325,000 $89,245 $1,175 4.87%
    $150k-250k 326 $39,540,000 $121,288 $1,624 4.87%
    $50k or less 179 $11,845,000 $66,173 $989 4.56%
    $250k+ 70 $10,310,000 $147,286 $1,643 4.60%

    Firefly lent most frequently to those with incomes in the $100k-150k range, with 484 originations. The second most popular income band? $50k-75k, with 387 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 488 $49,580,000 $101,598 $1,533 4.65%
    30-36% 335 $36,875,000 $110,075 $1,396 4.79%
    <20% 235 $23,365,000 $99,426 $1,214 4.42%
    38% 59 $5,475,000 $92,797 $1,200 4.83%
    37% 59 $5,425,000 $91,949 $1,219 4.88%
    39% 58 $4,530,000 $78,103 $956 5.27%
    41% 58 $5,390,000 $92,931 $1,051 5.17%
    36% 54 $4,780,000 $88,519 $608 5.15%
    40% 53 $5,245,000 $98,962 $1,439 4.83%
    50-60% 52 $4,020,000 $77,308 $281 5.23%
    42% 51 $6,025,000 $118,137 $1,530 4.95%
    44% 50 $5,870,000 $117,400 $2,033 5.14%
    43% 40 $3,840,000 $96,000 $962 4.93%
    45% 40 $3,600,000 $90,000 $1,117 5.15%
    >60% 38 $4,040,000 $106,316 $1,255 4.82%
    48% 34 $2,410,000 $70,882 $1,034 5.15%
    46% 34 $2,250,000 $66,176 $434 5.26%
    49% 26 $1,690,000 $65,000 $504 5.22%
    47% 26 $2,030,000 $78,077 $794 5.41%

    Firefly lent most frequently to those with DTI ratios of 20-30%, with 488 originations. The next most common DTI ratio? 30-36%, with 335 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,569 $153,835,000 $98,047 $1,276 4.81%
    Not provided 71 $9,375,000 $132,042 $2,039 4.53%
    Black 101 $8,225,000 $81,436 $1,091 5.21%
    Not applicable 16 $7,010,000 $438,125 $0 5.08%
    Asian 50 $4,570,000 $91,400 $1,102 4.78%
    Other Asian 3 $625,000 $208,333 $2,382 4.34%
    American Indian 6 $600,000 $100,000 $1,838 4.45%
    Asian Indian 3 $305,000 $101,667 $162 5.56%
    Vietnamese 1 $145,000 $145,000 $1,862 3.50%
    Filipino 1 $75,000 $75,000 $0 4.75%
    Native Hawaiian or Islander 1 $25,000 $25,000 $162 4.89%
    Chinese 1 $25,000 $25,000 $162 4.89%

    Approval Rates

    Total approvals of all applications
    90.41%

    Firefly has an average approval rate.

    Pick Rate

    Approvals leading to origination
    74.55%

    Firefly has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,823 $184,815,000 $101,380

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $4,825,000 $1,608,333
    Single Family (1-4 Units):Manufactured 5 $245,000 $49,000
    Single Family (1-4 Units):Site-Built 1,815 $179,745,000 $99,033

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 429 $34,545,000 $80,524 $454 5.06%
    40-60% 168 $24,590,000 $146,369 $1,583 4.27%
    60-80% 289 $60,125,000 $208,045 $2,398 3.93%
    80-100% 129 $29,675,000 $230,039 $3,332 3.99%
    Over 100% 1 $65,000 $65,000 $105 8.02%
    Under 20% 794 $30,820,000 $38,816 $194 5.27%