121 Financial Mortgage Rates, Fees & Info

Jacksonville, FL

LEI: 549300XCP8KCUTKGF379

Tax ID: 59-0248325

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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 Cash Out Refi, Refi, and Home Purchase loans. 121 Financial has a high proportion of conventional loans. Their top markets by origination volume include: Jacksonville, Jefferson, Miami, Gainesville, and Orlando among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

    121 Financial 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. 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

    176

    Origination Dollar Volume (All Markets)

    $39,190,000

    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) 160 $36,030,000 $225,188 $5,882 3.04%
    Jefferson, GA (FHA|USDA|VA) 1 $405,000 $405,000 $6,076 3.38%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $390,000 $195,000 $5,165 3.75%
    Outside of Metro Areas 2 $340,000 $170,000 $5,449 3.56%
    GAINESVILLE, FL (FHA|USDA|VA) 2 $320,000 $160,000 $6,052 3.06%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $260,000 $130,000 $3,113 4.44%
    London, KY (FHA|USDA|VA) 1 $245,000 $245,000 $6,164 2.88%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $215,000 $215,000 $4,903 2.25%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $215,000 $215,000 $6,165 2.88%
    KNOXVILLE, TN (FHA|USDA|VA) 1 $205,000 $205,000 $4,860 3.00%
    Palatka, FL (FHA|USDA|VA) 1 $205,000 $205,000 $6,025 3.00%
    St. Marys, GA (FHA|USDA|VA) 1 $195,000 $195,000 $6,512 2.88%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $165,000 $165,000 $5,896 2.75%
    121 Financial's top markets include Jacksonville, Jefferson, Miami, Gainesville, and Orlando among others.

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

    LOANFLIGHT LENDING, LLC
    Similarity Rank: 1040
    Suncoast Credit Union
    Similarity Rank: 1365
    SPACE COAST Credit Union
    Similarity Rank: 2079
    Seacoast National Bank
    Similarity Rank: 2548
    HOME SOLUTION LENDERS INC.
    Similarity Rank: 3300
    JAX
    Similarity Rank: 4158
    FIRST EQUITY MORTGAGE INCORPORATED
    Similarity Rank: 4173
    COMMUNITY FIRST CREDIT UNION OF FLO
    Similarity Rank: 4439
    121 FINANCIAL
    Similarity Rank: 4550
    Cf Bank
    Similarity Rank: 5301

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 171 $37,855,000 $221,374 $5,885 3.07%
    VA 5 $1,335,000 $267,000 $4,159 2.60%

    For 2021, 121 Financial's most frequently originated type of loan was Conventional, with 171 originations. Their 2nd most popular type was VA, with 5 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 79 $16,695,000 $211,329 $5,639 3.19%
    Refi 48 $9,800,000 $204,167 $5,824 2.77%
    Home Purchase 33 $9,175,000 $278,030 $6,264 3.18%
    Home Improvement 16 $3,520,000 $220,000 $5,965 3.06%

    For 2021, 121 Financial's most frequently cited loan purpose was Cash Out Refi, with 79 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 108 $26,610,000 $246,389 $6,422 3.17%
    15 Year 40 $8,080,000 $202,000 $5,626 2.89%
    Other 18 $2,820,000 $156,667 $3,506 2.85%
    20 Year 9 $1,575,000 $175,000 $4,609 2.93%
    10 Year 1 $105,000 $105,000 $3,993 2.25%

    For 2021, 121 Financial's most frequently cited loan duration was 30 Year, with 108 originations. The 2nd most popular length was 15 Year, with 40 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 47 $8,765,000 $186,489
    $1k-2k 34 $4,710,000 $138,529
    $5k+ 32 $12,160,000 $380,000
    $3k-4k 25 $5,875,000 $235,000
    $4k-5k 20 $5,080,000 $254,000
    $<1k 18 $2,600,000 $144,444

    121 Financial's average total fees were $6,422, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 47 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 80 $19,550,000 $244,375
    3-4% 59 $12,655,000 $214,492
    <2.5% 27 $5,625,000 $208,333
    4-5% 7 $1,215,000 $173,571
    6-7% 2 $80,000 $40,000
    5-6% 1 $65,000 $65,000

    During 2021, 121 Financial's average interest rate for loans was 3.17%, while their most frequently originated rate bucket for loans was 2.5-3%, with 80 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 73 $18,895,000 $258,836 $6,528 2.95%
    $100k-200k 71 $10,465,000 $147,394 $4,520 3.05%
    $100,000 or less 18 $1,310,000 $72,778 $2,947 3.65%
    $400k-600k 9 $4,075,000 $452,778 $9,943 2.89%
    $600k-1MM 3 $2,075,000 $691,667 $11,652 3.13%
    $1MM+ 2 $2,370,000 $1,185,000 $26,151 2.81%

    2021 saw 121 Financial place emphasis on $200k-400k loans with 73 originations, totaling $18,895,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 47 $11,075,000 $235,638 $6,312 3.11%
    $50k or less 37 $5,085,000 $137,432 $4,609 3.01%
    $50k-75k 34 $5,810,000 $170,882 $4,446 3.15%
    $75k-100k 31 $5,925,000 $191,129 $5,048 3.14%
    $150k-250k 17 $5,835,000 $343,235 $7,662 2.87%
    $250k+ 9 $5,245,000 $582,778 $13,221 2.79%

    121 Financial lent most frequently to those with incomes in the $100k-150k range, with 47 originations. The second most popular income band? $50k or less, with 37 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 43 $9,955,000 $231,512 $6,238 3.04%
    20-30% 40 $8,860,000 $221,500 $5,607 2.89%
    <20% 11 $3,145,000 $285,909 $7,502 3.01%
    43% 11 $2,835,000 $257,727 $6,190 3.02%
    44% 10 $1,790,000 $179,000 $4,004 3.34%
    38% 10 $2,030,000 $203,000 $5,709 3.15%
    36% 9 $2,165,000 $240,556 $4,861 3.00%
    46% 7 $1,355,000 $193,571 $6,564 2.95%
    42% 6 $1,630,000 $271,667 $7,065 3.19%
    39% 6 $1,610,000 $268,333 $7,507 3.35%
    48% 5 $915,000 $183,000 $5,574 2.95%
    37% 5 $765,000 $153,000 $5,238 2.73%
    45% 4 $540,000 $135,000 $4,294 3.34%
    40% 3 $695,000 $231,667 $5,849 3.50%
    50-60% 2 $280,000 $140,000 $4,515 3.38%
    47% 1 $95,000 $95,000 $3,736 3.25%
    41% 1 $255,000 $255,000 $4,532 2.88%
    49% 1 $55,000 $55,000 $610 6.25%

    121 Financial lent most frequently to those with DTI ratios of 30-36%, with 43 originations. The next most common DTI ratio? 20-30%, with 40 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 123 $28,695,000 $233,293 $5,883 3.14%
    Not provided 29 $6,125,000 $211,207 $6,099 2.86%
    Black 20 $3,650,000 $182,500 $5,073 2.88%
    Asian 3 $555,000 $185,000 $6,380 2.88%
    American Indian 1 $165,000 $165,000 $6,153 3.00%

    Approval Rates

    Total approvals of all applications
    94.06%

    121 Financial has an average approval rate.

    Pick Rate

    Approvals leading to origination
    30.68%

    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 176 $39,190,000 $222,670

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    176 $39,190,000 $222,670

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 17 $1,975,000 $116,176 $3,557 3.19%
    40-60% 47 $9,405,000 $200,106 $5,844 2.80%
    60-80% 73 $17,065,000 $233,767 $6,124 3.14%
    80-100% 36 $10,480,000 $291,111 $6,666 3.06%
    Under 20% 3 $265,000 $88,333 $1,680 4.54%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Financial Freedom Mortgage, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 40.0%
    Financial Freedom Mortgage, LLC FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 20.0%
    Financial Freedom Mortgage, LLC Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 20.0%
    Financial Freedom Mortgage, LLC Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 20.0%