Watson Mortgage Corp. Rates, Fees & Info
JACKSONVILLE, FLLEI: 549300YLA2LNEYNOLN85
Tax ID: 59-3256287
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Mortgage Data
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. They have a low ratio of USDA loans. Their top markets by origination volume include: Jacksonville, Orlando, Deltona, Gainesville, and Palatka among others. We have data for 18 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.34% | 12/16/24 |
| 30 Year Conventional Refi | 6.53% | 12/16/24 |
| 30 Year Cash-out Refi | 6.83% | 12/16/24 |
| 30 Year FHA Purchase | 7.52% | 12/16/24 |
| 30 Year VA Purchase | 6.34% | 12/16/24 |
| 30 Year VA Refi | 6.27% | 12/16/24 |
| 15 Year Conventional Purchase | 6.28% | 12/16/24 |
| 15 Year Conventional Refi | 6.18% | 12/16/24 |
| 15 Year Cash-out Refi | 6.18% | 12/16/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
480Origination Dollar Volume (All Markets)
$103,410,000Top 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) | 321 | $71,475,000 | $222,664 | $5,554 | 4.43% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 61 | $14,085,000 | $230,902 | $5,132 | 4.20% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 45 | $7,935,000 | $176,333 | $4,871 | 4.46% |
| GAINESVILLE, FL (FHA|USDA|VA) | 26 | $4,200,000 | $161,538 | $4,718 | 4.43% |
| Palatka, FL (FHA|USDA|VA) | 6 | $950,000 | $158,333 | $4,072 | 4.67% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 3 | $835,000 | $278,333 | $4,581 | 3.92% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $3,245 | 4.18% |
| THE VILLAGES, FL (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $3,847 | 4.31% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $6,092 | 3.81% |
| Outside of Metro Areas | 3 | $455,000 | $151,667 | $5,933 | 4.92% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $5,829 | 4.56% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $4,606 | 4.25% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $15,884 | 3.38% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $12,665 | 3.75% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,278 | 4.75% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,097 | 3.75% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $4,637 | 4.88% |
| St. Marys, GA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,910 | 4.38% |
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.
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Product Mix
For 2019, Watson Mortgage Corp.'s most frequently originated type of loan was Conventional, with 291 originations. Their 2nd most popular type was FHA, with 115 originations.
Loan Reason
For 2019, Watson Mortgage Corp.'s most frequently cited loan purpose was Home Purchase, with 455 originations. The 2nd most popular reason was Refi, with 19 originations.
Loan Duration/Length
For 2019, Watson Mortgage Corp.'s most frequently cited loan duration was 30 Year, with 469 originations. The 2nd most popular length was 15 Year, with 7 originations.
Origination Fees/Closing Costs
Watson Mortgage Corp.'s average total fees were $5,380, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 228 originations.
Interest Rates
During 2019, Watson Mortgage Corp.'s average interest rate for loans was 4.42%, while their most frequently originated rate bucket for loans was 4-5%, with 217 originations.
Loan Sizing
2019 saw Watson Mortgage Corp. place emphasis on $200k-400k loans with 218 originations, totaling $57,820,000 in origination value.
Applicant Income
Watson Mortgage Corp. lent most frequently to those with incomes in the $50k-75k range, with 155 originations. The second most popular income band? $50k or less, with 98 originations.
Applicant Debt to Income Ratio
Watson Mortgage Corp. lent most frequently to those with DTI ratios of 30-36%, with 73 originations. The next most common DTI ratio? 20-30%, with 61 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.54%
Watson Mortgage Corp. has an average approval rate.
Pick Rate
Approvals leading to origination68.96%
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 | 480 | $103,410,000 | $215,438 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 9 | $1,205,000 | $133,889 |
| Single Family (1-4 Units):Site-Built | 471 | $102,205,000 | $216,996 |