121 Financial Mortgage Rates, Fees & Info

Jacksonville, FL

LEI: 549300XCP8KCUTKGF379

Tax ID: 59-0248325

Latest/2024 | 2023 Data | 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
  • Complaints
  • 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

    121 Financial is a smaller mortgage company specializing in Home Purchase, Refi, and Cash Out Refi loans. 121 Financial has a high proportion of conventional loans. Their top markets by origination volume include: Jacksonville, Orlando, Miami, Knoxville, and Panama City 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.

    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

    145

    Origination Dollar Volume (All Markets)

    $22,775,000

    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
    JACKSONVILLE, FL (FHA|USDA|VA) 136 $21,230,000 $156,103 $4,265 4.53%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 3 $665,000 $221,667 $5,521 5.58%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $405,000 $405,000 $8,866 4.88%
    KNOXVILLE, TN (FHA|USDA|VA) 1 $185,000 $185,000 $4,499 4.50%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $125,000 $125,000 $3,117 3.13%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $75,000 $75,000 $3,068 4.38%
    Outside of Metro Areas 1 $45,000 $45,000 $1,074 5.00%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $45,000 $45,000 $1,716 6.75%
    121 Financial's top markets include Jacksonville, Orlando, Miami, Knoxville, and Panama City among others.

    Their top states include:
  • Florida (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)

    • 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.

    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 614
    VYSTAR
    Similarity Rank: 936
    HOME SOLUTION LENDERS INC.
    Similarity Rank: 945
    FIRST EQUITY MORTGAGE INCORPORATED
    Similarity Rank: 988
    121 FINANCIAL
    Similarity Rank: 1272
    COMMUNITY FIRST CREDIT UNION OF FLO
    Similarity Rank: 1380
    City Lending Inc.
    Similarity Rank: 1974
    BANKERS MORTGAGE LENDING, INC.
    Similarity Rank: 2080
    WATSON MORTGAGE CORP.
    Similarity Rank: 2310
    VILLAGE CAPITAL MORTGAGE
    Similarity Rank: 2872

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 144 $22,520,000 $156,389 $4,225 4.55%
    VA 1 $255,000 $255,000 $10,609 5.13%

    For 2018, 121 Financial's most frequently originated type of loan was Conventional, with 144 originations. Their 2nd most popular type was VA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 48 $9,950,000 $207,292 $5,254 4.62%
    Refi 48 $6,140,000 $127,917 $3,119 4.15%
    Cash Out Refi 47 $6,555,000 $139,468 $4,477 4.89%
    Home Improvement 2 $130,000 $65,000 $3,317 4.94%

    For 2018, 121 Financial's most frequently cited loan purpose was Home Purchase, with 48 originations. The 2nd most popular reason was Refi, with 48 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 67 $13,105,000 $195,597 $5,290 4.86%
    15 Year 31 $3,785,000 $122,097 $3,190 4.63%
    Other 31 $4,305,000 $138,871 $4,136 3.56%
    20 Year 8 $1,290,000 $161,250 $3,767 4.56%
    10 Year 7 $235,000 $33,571 $959 5.71%
    5 Year 1 $55,000 $55,000 $643 5.25%

    For 2018, 121 Financial's most frequently cited loan duration was 30 Year, with 67 originations. The 2nd most popular length was 15 Year, with 31 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 43 $3,315,000 $77,093
    $1k-2k 39 $5,495,000 $140,897
    $2k-3k 36 $6,820,000 $189,444
    $3k-4k 17 $3,995,000 $235,000
    $4k-5k 5 $1,365,000 $273,000
    $5k+ 5 $1,785,000 $357,000

    121 Financial's average total fees were $5,290, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 43 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 73 $12,405,000 $169,932
    3-4% 35 $5,325,000 $152,143
    5-6% 26 $4,440,000 $170,769
    6-7% 8 $460,000 $57,500
    7-8% 2 $110,000 $55,000
    2.5-3% 1 $35,000 $35,000

    During 2018, 121 Financial's average interest rate for loans was 4.86%, while their most frequently originated rate bucket for loans was 4-5%, with 73 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 62 $9,410,000 $151,774 $4,342 4.35%
    $100,000 or less 47 $2,985,000 $63,511 $2,732 4.86%
    $200k-400k 32 $8,670,000 $270,938 $5,796 4.47%
    $400k-600k 4 $1,710,000 $427,500 $8,988 4.84%

    2018 saw 121 Financial place emphasis on $100k-200k loans with 62 originations, totaling $9,410,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 43 $5,885,000 $136,860 $3,961 4.35%
    $100k-150k 36 $6,310,000 $175,278 $4,872 4.81%
    $50k or less 24 $3,070,000 $127,917 $4,139 4.61%
    $75k-100k 20 $3,140,000 $157,000 $4,242 4.39%
    $150k-250k 12 $2,810,000 $234,167 $4,833 4.42%
    $250k+ 1 $455,000 $455,000 $8,701 6.00%

    121 Financial lent most frequently to those with incomes in the $50k-75k range, with 43 originations. The second most popular income band? $100k-150k, with 36 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 16 $2,400,000 $150,000 $5,896 4.94%
    30-36% 16 $2,590,000 $161,875 $3,941 4.88%
    44% 6 $1,090,000 $181,667 $5,180 5.42%
    49% 5 $1,255,000 $251,000 $5,599 4.58%
    41% 5 $555,000 $111,000 $2,657 4.90%
    <20% 5 $595,000 $119,000 $4,415 4.68%
    36% 5 $1,015,000 $203,000 $5,063 4.70%
    40% 4 $530,000 $132,500 $4,363 5.47%
    37% 4 $460,000 $115,000 $5,377 4.50%
    39% 4 $790,000 $197,500 $5,521 5.38%
    48% 4 $1,110,000 $277,500 $5,923 4.72%
    42% 3 $185,000 $61,667 $2,607 6.00%
    43% 3 $545,000 $181,667 $5,914 4.79%
    45% 3 $525,000 $175,000 $4,425 5.21%
    46% 3 $495,000 $165,000 $5,371 4.96%
    38% 2 $250,000 $125,000 $3,211 3.81%
    50-60% 2 $490,000 $245,000 $7,445 4.25%
    >60% 2 $580,000 $290,000 $5,626 4.00%
    47% 1 $105,000 $105,000 $2,880 3.38%

    121 Financial lent most frequently to those with DTI ratios of 20-30%, with 16 originations. The next most common DTI ratio? 30-36%, with 16 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 99 $15,445,000 $156,010 $4,242 4.50%
    Not provided 23 $3,885,000 $168,913 $3,769 4.46%
    Black 21 $3,145,000 $149,762 $4,956 4.95%
    Not applicable 1 $165,000 $165,000 $3,525 4.50%
    Asian 1 $135,000 $135,000 $4,775 4.75%

    Approval Rates

    Total approvals of all applications
    87.85%

    121 Financial has an average approval rate.

    Pick Rate

    Approvals leading to origination
    40.69%

    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
    NA 145 $22,775,000 $157,069

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $115,000 $115,000
    Single Family (1-4 Units):Site-Built 144 $22,660,000 $157,361

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 7 $665,000 $95,000 $7,023 4.55%
    40-60% 10 $1,400,000 $140,000 $3,750 4.61%
    60-80% 35 $6,355,000 $181,571 $5,028 4.64%
    80-100% 31 $6,625,000 $213,710 $5,647 4.84%
    Under 20% 10 $520,000 $52,000 $1,460 6.41%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Financial Freedom Mortgage, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 66.7%
    Financial Freedom Mortgage, LLC FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 33.3%