121 Financial Mortgage Rates, Fees & Info
Jacksonville, FLLEI: 549300XCP8KCUTKGF379
Tax ID: 59-0248325
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Mortgage Data
Review & Overview
121 Financial is a smaller mortgage company specializing in Home Improvement and Home Purchase loans. 121 Financial has a high proportion of conventional loans. Their top markets by origination volume include: Jacksonville, Gulfport, North Port, Gainesville, and Palatka among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)121 Financial 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. 121 Financial 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.
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Originations
223Origination Dollar Volume (All Markets)
$28,275,000Top 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 |
|---|---|---|---|---|---|
| JACKSONVILLE, FL (FHA|USDA|VA) | 211 | $26,115,000 | $123,768 | $5,252 | 8.59% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 2 | $790,000 | $395,000 | $8,558 | 6.88% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $735,000 | $735,000 | $6,433 | 6.63% |
| GAINESVILLE, FL (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $0 | 9.37% |
| Palatka, FL (FHA|USDA|VA) | 2 | $120,000 | $60,000 | $0 | 9.75% |
| Outside of Metro Areas | 2 | $110,000 | $55,000 | $0 | 9.00% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $90,000 | $45,000 | $0 | 8.88% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 9.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against 121 FINANCIAL based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 178 | $15,820,000 | $88,876 | n/a | 8.97% |
| Conventional | 45 | $12,455,000 | $276,778 | $5,442 | 7.12% |
For 2023, 121 Financial's most frequently originated type of loan was HELOC, with 178 originations. Their 2nd most popular type was Conventional, with 45 originations.
Loan Reason
For 2023, 121 Financial's most frequently cited loan purpose was Home Improvement, with 92 originations. The 2nd most popular reason was Other, with 66 originations.
Loan Duration/Length
For 2023, 121 Financial's most frequently cited loan duration was 20 Year, with 176 originations. The 2nd most popular length was 30 Year, with 27 originations.
Origination Fees/Closing Costs
121 Financial's average total fees were $7,235, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 13 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 162 | $14,200,000 | $87,654 |
| 7-8% | 37 | $4,005,000 | $108,243 |
| 6-7% | 14 | $6,620,000 | $472,857 |
| 5-6% | 10 | $3,450,000 | $345,000 |
During 2023, 121 Financial's average interest rate for loans was 6.49%, while their most frequently originated rate bucket for loans was Over 8%, with 162 originations.
Loan Sizing
2023 saw 121 Financial place emphasis on $100,000 or less loans with 134 originations, totaling $7,790,000 in origination value.
Applicant Income
121 Financial lent most frequently to those with incomes in the $100k-150k range, with 53 originations. The second most popular income band? $75k-100k, with 41 originations.
Applicant Debt to Income Ratio
121 Financial lent most frequently to those with DTI ratios of 20-30%, with 38 originations. The next most common DTI ratio? 30-36%, with 37 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications75.61%
121 Financial has a below average approval rate.
Pick Rate
Approvals leading to origination54.71%
121 Financial 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 |
|---|---|---|---|
| 0.0 | 1 | $75,000 | $75,000 |
| NA | 222 | $28,200,000 | $127,027 |