Watson Mortgage Corp. Rates, Fees & Info

JACKSONVILLE, FL

LEI: 549300YLA2LNEYNOLN85

Tax ID: 59-3256287

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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 and Refi 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, Lakeland, 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.

    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 6.34% 10/13/24
    30 Year Conventional Refi 6.53% 10/13/24
    30 Year Cash-out Refi 6.83% 10/13/24
    30 Year FHA Purchase 7.52% 10/13/24
    30 Year VA Purchase 6.34% 10/13/24
    30 Year VA Refi 6.27% 10/13/24
    15 Year Conventional Purchase 6.28% 10/13/24
    15 Year Conventional Refi 6.18% 10/13/24
    15 Year Cash-out Refi 6.18% 10/13/24
    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






    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

    811

    Origination Dollar Volume (All Markets)

    $200,225,000

    Awards

    WATSON MORTGAGE CORP. 30 Year Conventional Loans bronze WATSON MORTGAGE CORP. 30 Year Conventional Loans bronze WATSON MORTGAGE CORP. 30 Year Conventional Loans gold WATSON MORTGAGE CORP. 30 Year Conventional Loans bronze
    Show all (4) awards

    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) 523 $129,475,000 $247,562 $5,068 3.12%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 136 $37,250,000 $273,897 $5,610 3.09%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 43 $9,335,000 $217,093 $5,036 3.13%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 22 $4,480,000 $203,636 $4,702 2.86%
    GAINESVILLE, FL (FHA|USDA|VA) 23 $4,285,000 $186,304 $4,528 3.13%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 8 $3,480,000 $435,000 $7,735 3.08%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 13 $2,895,000 $222,692 $4,513 3.13%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 4 $1,730,000 $432,500 $6,750 2.84%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 6 $1,420,000 $236,667 $4,230 3.06%
    Palatka, FL (FHA|USDA|VA) 9 $1,365,000 $151,667 $4,586 3.21%
    Outside of Metro Areas 5 $1,035,000 $207,000 $5,603 2.93%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 2 $650,000 $325,000 $8,410 2.50%
    OCALA, FL (FHA|USDA|VA) 4 $490,000 $122,500 $5,639 3.19%
    Lake City, FL (FHA|USDA|VA) 2 $490,000 $245,000 $4,857 3.25%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $470,000 $235,000 $4,651 3.13%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 2 $300,000 $150,000 $3,835 3.31%
    BRUNSWICK, GA (FHA|USDA|VA) 1 $265,000 $265,000 $3,562 3.13%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $225,000 $225,000 $3,129 2.38%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $175,000 $175,000 $3,660 2.63%
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $165,000 $165,000 $6,349 3.75%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $95,000 $95,000 $2,413 3.00%
    Moultrie, GA (FHA|USDA|VA) 1 $75,000 $75,000 $3,960 3.00%
    THE VILLAGES, FL (FHA|USDA|VA) 1 $75,000 $75,000 $3,544 2.63%
    Watson Mortgage Corp.'s top markets include Jacksonville, Orlando, Deltona, Lakeland, and Gainesville among others.

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

    METROPLEX MORTGAGE SERVICES, INC.
    Similarity Rank: 372
    THE MONEY HOUSE INC.
    Similarity Rank: 946
    SAN ANTONIO CITIZENS
    Similarity Rank: 1170
    LAUNCH FEDERAL CREDIT UNION
    Similarity Rank: 1170
    Midwest Mortgage Associates Corporation
    Similarity Rank: 1518
    Citizens First Bank
    Similarity Rank: 1752
    RAILROAD & INDUSTRIAL
    Similarity Rank: 2045
    CAMPUS USA
    Similarity Rank: 2065
    Kwik Mortgage Corporation
    Similarity Rank: 2492
    DEVELOPER'S MORTGAGE COMPANY
    Similarity Rank: 2580

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 581 $145,635,000 $250,663 $4,099 3.10%
    FHA 125 $25,575,000 $204,600 $7,881 3.27%
    VA 99 $27,805,000 $280,859 $7,770 2.93%
    USDA 6 $1,210,000 $201,667 $6,084 2.88%

    For 2020, Watson Mortgage Corp.'s most frequently originated type of loan was Conventional, with 581 originations. Their 2nd most popular type was FHA, with 125 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 567 $139,765,000 $246,499 $5,714 3.19%
    Refi 177 $45,325,000 $256,073 $3,865 2.83%
    Cash Out Refi 43 $10,205,000 $237,326 $3,745 2.96%
    Home Improvement 24 $4,930,000 $205,417 $3,654 3.19%

    For 2020, Watson Mortgage Corp.'s most frequently cited loan purpose was Home Purchase, with 567 originations. The 2nd most popular reason was Refi, with 177 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 721 $178,685,000 $247,829 $5,303 3.16%
    15 Year 76 $17,380,000 $228,684 $3,664 2.61%
    20 Year 10 $3,350,000 $335,000 $5,173 2.95%
    Other 4 $810,000 $202,500 $4,631 2.91%

    For 2020, Watson Mortgage Corp.'s most frequently cited loan duration was 30 Year, with 721 originations. The 2nd most popular length was 15 Year, with 76 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 668 $164,930,000 $246,901
    $2k-3k 68 $16,720,000 $245,882
    $3k-4k 46 $9,650,000 $209,783
    $5k+ 12 $4,940,000 $411,667
    $<1k 11 $2,305,000 $209,545
    $4k-5k 6 $1,680,000 $280,000

    Watson Mortgage Corp.'s average total fees were $5,303, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 668 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 338 $87,170,000 $257,899
    3-4% 316 $73,660,000 $233,101
    <2.5% 118 $32,630,000 $276,525
    4-5% 36 $6,300,000 $175,000
    5-6% 2 $310,000 $155,000
    Over 8% 1 $155,000 $155,000

    During 2020, Watson Mortgage Corp.'s average interest rate for loans was 3.16%, while their most frequently originated rate bucket for loans was 2.5-3%, with 338 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 408 $112,270,000 $275,172 $5,408 3.01%
    $100k-200k 280 $44,610,000 $159,321 $4,524 3.23%
    $400k-600k 74 $34,410,000 $465,000 $6,289 2.83%
    $100,000 or less 42 $3,500,000 $83,333 $3,338 3.47%
    $600k-1MM 7 $5,435,000 $776,429 $13,400 3.79%

    2020 saw Watson Mortgage Corp. place emphasis on $200k-400k loans with 408 originations, totaling $112,270,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 219 $45,465,000 $207,603 $5,387 3.22%
    $100k-150k 162 $46,580,000 $287,531 $5,109 3.01%
    $50k or less 159 $26,945,000 $169,465 $4,993 3.15%
    $75k-100k 139 $33,825,000 $243,345 $5,048 3.08%
    $150k-250k 107 $36,675,000 $342,757 $4,741 2.96%
    $250k+ 25 $10,735,000 $429,400 $6,493 3.04%

    Watson Mortgage Corp. lent most frequently to those with incomes in the $50k-75k range, with 219 originations. The second most popular income band? $100k-150k, with 162 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 159 $38,735,000 $243,616 $4,382 3.05%
    30-36% 158 $40,730,000 $257,785 $5,009 3.09%
    <20% 52 $13,080,000 $251,538 $4,456 2.94%
    44% 41 $9,765,000 $238,171 $6,009 3.23%
    38% 39 $10,465,000 $268,333 $4,811 3.16%
    50-60% 39 $10,135,000 $259,872 $9,497 3.13%
    43% 38 $9,230,000 $242,895 $4,723 3.15%
    39% 33 $7,645,000 $231,667 $4,997 3.22%
    42% 27 $5,835,000 $216,111 $5,649 3.24%
    40% 27 $6,635,000 $245,741 $5,503 3.20%
    45% 27 $5,965,000 $220,926 $4,811 3.06%
    37% 26 $6,780,000 $260,769 $4,831 3.03%
    49% 26 $6,170,000 $237,308 $5,172 3.10%
    46% 26 $6,930,000 $266,538 $5,442 3.25%
    48% 23 $5,545,000 $241,087 $5,914 3.11%
    47% 20 $4,480,000 $224,000 $5,368 3.16%
    36% 19 $4,315,000 $227,105 $3,942 3.07%
    41% 19 $4,175,000 $219,737 $5,319 3.20%
    >60% 9 $2,715,000 $301,667 $4,541 2.54%

    Watson Mortgage Corp. lent most frequently to those with DTI ratios of 20-30%, with 159 originations. The next most common DTI ratio? 30-36%, with 158 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 674 $167,720,000 $248,843 $5,061 3.10%
    Not provided 68 $17,430,000 $256,324 $5,063 2.95%
    Black 52 $11,150,000 $214,423 $6,382 3.36%
    Asian 11 $2,905,000 $264,091 $5,387 2.81%
    Native Hawaiian or Islander 3 $625,000 $208,333 $5,278 3.00%
    American Indian 3 $395,000 $131,667 $3,390 3.00%

    Approval Rates

    Total approvals of all applications
    85.14%

    Watson Mortgage Corp. has an average approval rate.

    Pick Rate

    Approvals leading to origination
    70.04%

    Watson Mortgage Corp. has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 811 $200,225,000 $246,887

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 9 $1,135,000 $126,111
    Single Family (1-4 Units):Site-Built 802 $199,090,000 $248,242

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 18 $2,930,000 $162,778 $3,316 2.77%
    40-60% 87 $19,065,000 $219,138 $3,519 2.82%
    60-80% 241 $61,955,000 $257,075 $4,098 3.06%
    80-100% 439 $108,295,000 $246,686 $5,671 3.19%
    Over 100% 25 $7,465,000 $298,600 $12,936 3.14%
    Under 20% 1 $515,000 $515,000 $5,797 2.00%