Watson Mortgage Corp. Rates, Fees & InfoJACKSONVILLE, FL
Tax ID: 59-3256287
Latest/2021 | 2020 Data | 2019 Data | 2018 Data
Review & OverviewWatson Mortgage Corp. is a smaller mortgage company specializing in loans. Watson Mortgage Corp. has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Jacksonville, Orlando, Deltona, Tampa, and Gainesville among others. We have data for 23 markets. (Some data included below & more in-depth data is available with an active subscription.)
Watson Mortgage Corp. 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. Watson Mortgage Corp. is typically an average 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.
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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.54%||3/19/23|
|30 Year Conventional Refi||6.43%||3/19/23|
|30 Year Cash-out Refi||6.68%||3/19/23|
|30 Year FHA Purchase||7.44%||3/19/23|
|30 Year FHA Refi||6.75%||3/19/23|
|30 Year VA Purchase||6.35%||3/19/23|
|30 Year VA Refi||5.87%||3/19/23|
|30 Year USDA Purchase||6.65%||3/19/23|
|15 Year Conventional Purchase||5.88%||3/19/23|
|15 Year Conventional Refi||5.79%||3/19/23|
|15 Year Cash-out Refi||5.79%||3/19/23|
|15 Year VA Refi||5.42%||3/19/23|
|These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.|
Origination Dollar Volume (All Markets)$178,220,000
Watson Mortgage Corp.'s average 30 year fixed mortgage rate was
The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.
This yields a difference of -0.1%.
Relative Fees (Closing Costs)
Watson Mortgage Corp.'s average total fees/closing costs for a 30 year fixed rate
mortgage were $5,396.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.
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)||444||$116,230,000||$261,779||$5,203||2.97%|
|ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA)||123||$32,645,000||$265,407||$5,369||3.06%|
|DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA)||49||$10,455,000||$213,367||$4,825||2.97%|
|TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA)||15||$4,245,000||$283,000||$5,237||2.99%|
|GAINESVILLE, FL (FHA|USDA|VA)||11||$2,685,000||$244,091||$5,810||2.86%|
|PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA)||7||$1,995,000||$285,000||$4,830||2.79%|
|OCALA, FL (FHA|USDA|VA)||6||$1,700,000||$283,333||$5,364||3.02%|
|LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA)||7||$1,415,000||$202,143||$6,862||2.86%|
|Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA)||2||$830,000||$415,000||$4,679||3.00%|
|ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA)||3||$805,000||$268,333||$4,116||3.38%|
|PUNTA GORDA, FL (FHA|USDA|VA)||3||$805,000||$268,333||$5,016||3.17%|
|Palatka, FL (FHA|USDA|VA)||5||$765,000||$153,000||$4,872||3.35%|
|St. Marys, GA (FHA|USDA|VA)||2||$680,000||$340,000||$11,193||3.06%|
|PORT ST. LUCIE, FL (FHA|USDA|VA)||3||$675,000||$225,000||$4,392||3.38%|
|Outside of Metro Areas||3||$595,000||$198,333||$4,927||3.67%|
|THE VILLAGES, FL (FHA|USDA|VA)||2||$460,000||$230,000||$7,511||2.75%|
|CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA)||2||$380,000||$190,000||$4,265||3.19%|
|NAPLES-MARCO ISLAND, FL (FHA|USDA|VA)||1||$175,000||$175,000||$3,666||3.25%|
|HOMOSASSA SPRINGS, FL (FHA|USDA|VA)||1||$165,000||$165,000||$5,323||2.88%|
|Lake City, FL (FHA|USDA|VA)||1||$155,000||$155,000||$3,303||2.88%|
|North Port-Sarasota-Bradenton, FL (FHA|USDA|VA)||1||$155,000||$155,000||$4,299||3.50%|
|SEBRING-AVON PARK, FL (FHA|USDA|VA)||2||$120,000||$60,000||$3,730||1.63%|
|PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA)||1||$85,000||$85,000||$3,941||2.63%|
We use machine learning to identify the top lenders compared against WATSON MORTGAGE CORP. based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2021, Watson Mortgage Corp.'s most frequently originated type of loan was Conventional, with 544 originations. Their 2nd most popular type was FHA, with 71 originations.
For 2021, Watson Mortgage Corp.'s most frequently cited loan purpose was Home Purchase, with 551 originations. The 2nd most popular reason was Refi, with 107 originations.
For 2021, Watson Mortgage Corp.'s most frequently cited loan duration was 30 Year, with 636 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|
Watson Mortgage Corp.'s average total fees were $5,396, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 539 originations.
|Loan Rate||Originations||Total Value||Average Loan|
During 2021, Watson Mortgage Corp.'s average interest rate for loans was 3.05%, while their most frequently originated rate bucket for loans was 3-4%, with 291 originations.
2021 saw Watson Mortgage Corp. place emphasis on $200k-400k loans with 352 originations, totaling $98,890,000 in origination value.
Watson Mortgage Corp. lent most frequently to those with incomes in the $50k-75k range, with 202 originations. The second most popular income band? $100k-150k, with 144 originations.
Applicant Debt to Income Ratio
Watson Mortgage Corp. lent most frequently to those with DTI ratios of 20-30%, with 124 originations. The next most common DTI ratio? 30-36%, with 116 originations.
Approval RatesTotal approvals of all applications
Watson Mortgage Corp. has a below average approval rate.
Pick RateApprovals leading to origination
Watson Mortgage Corp. has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|