Watson Mortgage Corp. Rates, Fees & Info

JACKSONVILLE, FL

LEI: 549300YLA2LNEYNOLN85

Tax ID: 59-3256287

4.6 stars - Updated: 4/5/25 - out of 5 stars, based on 11 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Watson Mortgage Corp. is a smaller mortgage company specializing in Home Purchase loans. Watson Mortgage Corp. has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Jacksonville, Orlando, Deltona, Lakeland, and Gainesville among others. We have data for 11 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.97% 4/5/25
    30 Year Conventional Refi 6.72% 4/5/25
    30 Year Cash-out Refi 7.11% 4/5/25
    30 Year FHA Purchase 7.51% 4/5/25
    30 Year VA Purchase 6.68% 4/5/25
    30 Year USDA Purchase 6.72% 4/5/25
    15 Year Conventional Purchase 5.61% 4/5/25
    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.

    Watson Mortgage Corp. Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Watson Mortgage Corp.. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    122

    Origination Dollar Volume (All Markets)

    $34,520,000

    Awards

    WATSON MORTGAGE CORP. FHA Loans bronze
    Show all (1) awards

    Relative Rate

    Watson Mortgage Corp.'s average 30 year fixed mortgage rate was 6.84%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of 0.29%.

    Relative Fees (Closing Costs)

    Watson Mortgage Corp.'s average total fees/closing costs for a 30 year fixed rate mortgage were $7,917.

    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 $8,356.

    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) 65 $20,395,000 $313,769 $7,619 6.84%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 18 $4,510,000 $250,556 $7,792 6.80%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 14 $3,810,000 $272,143 $7,716 6.79%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 7 $2,245,000 $320,714 $11,161 6.93%
    GAINESVILLE, FL (FHA|USDA|VA) 6 $1,110,000 $185,000 $7,511 6.67%
    Palatka, FL (FHA|USDA|VA) 4 $780,000 $195,000 $6,320 6.84%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 2 $490,000 $245,000 $11,310 6.25%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 2 $460,000 $230,000 $9,638 6.81%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 2 $450,000 $225,000 $7,416 7.00%
    TALLAHASSEE, FL (FHA|USDA|VA) 1 $165,000 $165,000 $4,933 6.88%
    Outside of Metro Areas 1 $105,000 $105,000 $5,550 7.00%
    Watson Mortgage Corp.'s top markets include Jacksonville, Orlando, Deltona, Lakeland, and Gainesville among others.

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

    • Similar Lenders

    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.

    SAN ANTONIO CITIZENS
    Similarity Rank: 156
    FLORIDA
    Similarity Rank: 220
    CAMPUS USA
    Similarity Rank: 512
    JAX
    Similarity Rank: 540
    INSIGHT
    Similarity Rank: 721
    First Home Bank
    Similarity Rank: 784
    Citizens First Bank
    Similarity Rank: 820
    COMMUNITY FIRST CREDIT UNION OF FLO
    Similarity Rank: 1102
    ADDITION FINANCIAL
    Similarity Rank: 1155
    Grow Financial Federal Credit Union
    Similarity Rank: 1170

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 85 $24,155,000 $284,176 $6,740 6.89%
    FHA 23 $5,975,000 $259,783 $11,581 6.71%
    VA 14 $4,390,000 $313,571 $8,564 6.55%

    For 2024, Watson Mortgage Corp.'s most frequently originated type of loan was Conventional, with 85 originations. Their 2nd most popular type was FHA, with 23 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 115 $32,775,000 $285,000 $7,888 6.82%
    Cash Out Refi 6 $1,370,000 $228,333 $7,268 6.79%
    Home Improvement 1 $375,000 $375,000 $8,397 6.88%

    For 2024, Watson Mortgage Corp.'s most frequently cited loan purpose was Home Purchase, with 115 originations. The 2nd most popular reason was Cash Out Refi, with 6 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 119 $33,895,000 $284,832 $7,917 6.84%
    15 Year 1 $295,000 $295,000 $4,597 5.50%
    20 Year 1 $155,000 $155,000 $4,173 6.13%
    5 Year 1 $175,000 $175,000 $8,221 6.25%

    For 2024, Watson Mortgage Corp.'s most frequently cited loan duration was 30 Year, with 119 originations. The 2nd most popular length was 15 Year, with 1 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 46 $13,200,000 $286,957
    $2k-3k 26 $6,850,000 $263,462
    $5k+ 25 $7,755,000 $310,200
    $4k-5k 13 $3,955,000 $304,231
    $3k-4k 10 $2,420,000 $242,000
    $<1k 2 $340,000 $170,000

    Watson Mortgage Corp.'s average total fees were $7,917, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 46 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 84 $23,040,000 $274,286
    7-8% 30 $9,280,000 $309,333
    5-6% 7 $1,975,000 $282,143
    Over 8% 1 $225,000 $225,000

    During 2024, Watson Mortgage Corp.'s average interest rate for loans was 6.84%, while their most frequently originated rate bucket for loans was 6-7%, with 84 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 81 $22,825,000 $281,790 $8,370 6.87%
    $100k-200k 26 $3,890,000 $149,615 $5,688 6.68%
    $400k-600k 11 $5,275,000 $479,545 $9,520 6.76%
    $600k-1MM 4 $2,530,000 $632,500 $7,154 6.81%

    2024 saw Watson Mortgage Corp. place emphasis on $200k-400k loans with 81 originations, totaling $22,825,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 32 $6,530,000 $204,063 $7,076 6.71%
    $100k-150k 27 $8,675,000 $321,296 $8,265 6.88%
    $75k-100k 26 $7,240,000 $278,462 $8,579 6.90%
    $150k-250k 18 $6,580,000 $365,556 $7,795 6.92%
    $50k or less 11 $1,755,000 $159,545 $6,982 6.65%
    $250k+ 8 $3,740,000 $467,500 $8,674 6.83%

    Watson Mortgage Corp. lent most frequently to those with incomes in the $50k-75k range, with 32 originations. The second most popular income band? $100k-150k, with 27 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 18 $4,940,000 $274,444 $6,729 6.89%
    20-30% 12 $3,580,000 $298,333 $6,715 6.69%
    50-60% 11 $3,215,000 $292,273 $12,727 6.48%
    43% 10 $3,090,000 $309,000 $7,193 6.88%
    49% 9 $2,175,000 $241,667 $7,085 6.90%
    44% 8 $2,120,000 $265,000 $6,622 6.91%
    42% 7 $1,945,000 $277,857 $8,296 6.77%
    40% 7 $1,835,000 $262,143 $9,221 6.66%
    45% 7 $2,355,000 $336,429 $8,670 7.05%
    48% 7 $2,035,000 $290,714 $5,658 7.21%
    41% 5 $1,815,000 $363,000 $9,195 7.00%
    47% 5 $1,215,000 $243,000 $8,269 6.58%
    37% 4 $850,000 $212,500 $5,483 7.16%
    39% 3 $785,000 $261,667 $8,268 6.33%
    46% 3 $925,000 $308,333 $7,302 6.96%
    36% 2 $580,000 $290,000 $12,163 7.38%
    38% 2 $410,000 $205,000 $4,577 6.50%
    <20% 2 $650,000 $325,000 $8,219 6.19%

    Watson Mortgage Corp. lent most frequently to those with DTI ratios of 30-36%, with 18 originations. The next most common DTI ratio? 20-30%, with 12 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 102 $28,150,000 $275,980 $7,675 6.83%
    Not provided 14 $4,330,000 $309,286 $8,022 6.93%
    Black 5 $1,495,000 $299,000 $11,166 6.45%
    American Indian 1 $545,000 $545,000 $8,207 6.50%

    Approval Rates

    Total approvals of all applications
    82.30%

    Watson Mortgage Corp. has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    48.36%

    Watson Mortgage Corp. 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 122 $34,520,000 $282,951

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    122 $34,520,000 $282,951

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 4 $470,000 $117,500 $5,545 6.72%
    40-60% 9 $1,635,000 $181,667 $4,858 6.64%
    60-80% 36 $10,670,000 $296,389 $7,044 6.87%
    80-100% 72 $21,420,000 $297,500 $8,663 6.83%
    Over 100% 1 $325,000 $325,000 $15,917 6.00%