Key West Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Key West averaged
6.75%
for the week of 2024-11-07, compared to the national average of
6.79% for the same period.
The average rate for the prior week (2024-10-31) was
6.68% and
one month ago for the week of 2024-10-03, the
average rate was 6.38%.
Key West's average rate one year ago was 8.02%.
For refis of the same type during the week of 2024-11-07, the average rate
was 7.29%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-11-07 | 6.79% |
| Key West 30 Year Fixed Rate | 2024-11-07 | 6.75% |
| Key West 30 Year Fixed Rate Refi | 2024-11-07 | 7.29% |
| Key West 15 Year Fixed Rate | 2024-11-07 | 6.2% |
| Key West 15 Year Fixed Rate Refi | 2024-11-07 | 6.6% |
| Key West 30 Year FHA | 2024-11-07 | 6.43% |
| Key West 30 Year FHA Refi | 2024-11-07 | 6.53% |
| Key West 30 Year USDA | 2024-11-07 | 6.58% |
| Key West 30 Year USDA Refi | 2024-11-07 | 6.38% |
| Key West 30 Year VA | 2024-11-07 | 6.21% |
| Key West 30 Year VA Refi | 2024-11-07 | 6.54% |
Key West Top Lenders by Rates & Fees
The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the Key West, FL market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).
Key West Average Closing Costs & Other Stats
Key West, FL's 153 lenders originated 1,373
loans during 2023. The total origination value was $978,145,000, with an average loan value of
$712,414.
Key West's average closing costs are $9,221.
The top Key West lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
107 loans originated. Their average total fees are
$16,313, which is $6,964
higher than the next largest lender,
First Horizon Bank.
The lowest fee Key West lenders (with over 10 loans originated) are
South State Bank ($7,991), Centennial Bank ($8,495), Truist ($9,041), First Horizon Bank ($9,349) and Morgan Stanley Private Bank ($9,564).
The lowest rate Key West lenders (with over 10 loans originated) are
Morgan Stanley Private Bank (5.42%), Bank of America (5.95%), First Horizon Bank (6.23%), Wells Fargo Bank (6.24%) and Truist (6.34%).
Key West, FL Mortgage Market Share & Volume
Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.
| Name | 2022 Loan Value | 2023 Loan Value | % Change | 2023 Market Share |
|---|---|---|---|---|
| First Horizon Bank | $215,710,000 | $107,255,000 | -50.3% | 11.0% |
| UNITED WHOLESALE MORTGAGE, LLC | $165,075,000 | $102,105,000 | -38.1% | 10.4% |
| The Northern Trust Company | $10,980,000 | $35,995,000 | 227.8% | 3.7% |
| QUICKEN LOANS, LLC | $52,365,000 | $33,860,000 | -35.3% | 3.5% |
| Bank of America | $56,370,000 | $33,490,000 | -40.6% | 3.4% |
| South State Bank | $20,650,000 | $26,490,000 | 28.3% | 2.7% |
| CROSSCOUNTRY MORTGAGE, LLC | $38,195,000 | $24,860,000 | -34.9% | 2.5% |
| JPMorgan Chase Bank | $56,970,000 | $24,835,000 | -56.4% | 2.5% |
| Morgan Stanley Private Bank | $21,640,000 | $24,540,000 | 13.4% | 2.5% |
| Centennial Bank | $43,155,000 | $24,415,000 | -43.4% | 2.5% |
| Truist | $38,600,000 | $20,045,000 | -48.1% | 2.0% |
| A&D Mortgage LLC | $26,610,000 | $16,965,000 | -36.2% | 1.7% |
| Wells Fargo Bank | $46,230,000 | $16,595,000 | -64.1% | 1.7% |
| U.S. Bank | $28,050,000 | $13,530,000 | -51.8% | 1.4% |
| ANGEL OAK MORTGAGE SOLUTIONS LLC | $31,485,000 | $13,305,000 | -57.7% | 1.4% |
| Citadel Servicing Corporation | $6,570,000 | $10,455,000 | 59.1% | 1.1% |
| NAVY FEDERAL CREDIT UNION | $11,820,000 | $9,280,000 | -21.5% | 0.9% |
| TD Bank | $38,700,000 | $8,690,000 | -77.5% | 0.9% |
| Citibank | $6,505,000 | $8,520,000 | 31.0% | 0.9% |
| Flagstar Bank, FSB | $14,390,000 | $8,245,000 | -42.7% | 0.8% |
| Regions Bank | $13,605,000 | $8,225,000 | -39.5% | 0.8% |
| Paramount Residential Mortgage Group, Inc. | $9,625,000 | $8,115,000 | -15.7% | 0.8% |
| NEXERA HOLDING LLC | $24,880,000 | $8,005,000 | -67.8% | 0.8% |
| Commerce Home Mortgage, Inc. | $7,695,000 | $7,920,000 | 2.9% | 0.8% |
| City National Bank of Florida | $29,915,000 | $7,715,000 | -74.2% | 0.8% |
| Charles Schwab Bank, SSB | $8,170,000 | $7,005,000 | -14.3% | 0.7% |
| HOMEXPRESS MORTGAGE CORP. | $6,610,000 | $6,615,000 | 0.1% | 0.7% |
| Seacoast National Bank | $1,885,000 | $6,615,000 | 250.9% | 0.7% |
| PNC Bank | $36,500,000 | $6,505,000 | -82.2% | 0.7% |
| Goldman Sachs Bank USA | $5,645,000 | $6,495,000 | 15.1% | 0.7% |
| First-Citizens Bank & Trust Company | $4,465,000 | $5,925,000 | 32.7% | 0.6% |
| Citizens Bank | $12,480,000 | $5,425,000 | -56.5% | 0.6% |
| Raymond James Bank | $12,245,000 | $5,135,000 | -58.1% | 0.5% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $9,075,000 | $5,070,000 | -44.1% | 0.5% |
| PLAZA HOME MORTGAGE, INC. | $5,170,000 | $4,920,000 | -4.8% | 0.5% |
| GUARANTEED RATE, INC. | $3,490,000 | $4,885,000 | 40.0% | 0.5% |
| Axos Bank | $4,805,000 | n/a | 0.5% | |
| The Huntington National Bank | $665,000 | $4,785,000 | 619.5% | 0.5% |
| AMERICAN FINANCIAL NETWORK, INC. | $4,635,000 | n/a | 0.5% | |
| DEEPHAVEN MORTGAGE LLC | $8,975,000 | $4,430,000 | -50.6% | 0.5% |
| Mortgage Research Center, LLC | $8,510,000 | $4,415,000 | -48.1% | 0.5% |
| NEWREZ LLC | $2,175,000 | $4,295,000 | 97.5% | 0.4% |
| Century Mortgage Company DBA Century Lending Company | $1,475,000 | $4,260,000 | 188.8% | 0.4% |
| Fifth Third Bank | $4,055,000 | $4,170,000 | 2.8% | 0.4% |
| Hometown Equity Mortgage, LLC | $7,235,000 | $4,055,000 | -44.0% | 0.4% |
| LOANDEPOT.COM, LLC | $17,460,000 | $3,955,000 | -77.3% | 0.4% |
| Plains Commerce Bank | $2,355,000 | $3,935,000 | 67.1% | 0.4% |
| EMM LOANS LLC | $4,090,000 | $3,895,000 | -4.8% | 0.4% |
| AMWEST FUNDING CORP. | $3,070,000 | $3,870,000 | 26.1% | 0.4% |
| FINANCE OF AMERICA REVERSE LLC | $7,685,000 | $3,830,000 | -50.2% | 0.4% |
| ARC HOME LLC | $6,785,000 | $3,725,000 | -45.1% | 0.4% |
| LAKE MICHIGAN CREDIT UNION | $7,155,000 | $3,700,000 | -48.3% | 0.4% |
| Synovus Bank | $2,805,000 | $3,690,000 | 31.6% | 0.4% |
| AMERICAN PORTFOLIO MORTGAGE CORPORATION | $4,995,000 | $3,665,000 | -26.6% | 0.4% |
| RF Renovo Management Company, LLC | $585,000 | $3,660,000 | 525.6% | 0.4% |
| UNION HOME MORTGAGE CORP. | $2,960,000 | $3,655,000 | 23.5% | 0.4% |
| FUNDLOANS CAPITAL | $3,510,000 | n/a | 0.4% | |
| Old National Bank | $2,560,000 | $3,490,000 | 36.3% | 0.4% |
| PENNYMAC LOAN SERVICES, LLC | $9,750,000 | $3,150,000 | -67.7% | 0.3% |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $4,925,000 | $3,100,000 | -37.1% | 0.3% |
| UBS Bank USA | $22,195,000 | $3,070,000 | -86.2% | 0.3% |
| Five Star Bank | $3,005,000 | n/a | 0.3% | |
| Union Savings Bank | $3,005,000 | n/a | 0.3% | |
| NFM, INC. | $4,655,000 | $2,980,000 | -36.0% | 0.3% |
| The Central Trust Bank | $2,970,000 | n/a | 0.3% | |
| First Carolina Bank | $2,965,000 | n/a | 0.3% | |
| Peoples Bank | $2,930,000 | n/a | 0.3% | |
| MASON MCDUFFIE MORTGAGE CORPORATION | $2,880,000 | n/a | 0.3% | |
| Regional Missouri Bank | $2,875,000 | n/a | 0.3% | |
| AXIA FINANCIAL, LLC | $16,700,000 | $2,795,000 | -83.3% | 0.3% |
| CMG MORTGAGE, INC. | $4,890,000 | $2,595,000 | -46.9% | 0.3% |
| LIMA ONE CAPITAL, LLC | $465,000 | $2,595,000 | 458.1% | 0.3% |
| HOMESIDE FINANCIAL, LLC | $1,625,000 | $2,590,000 | 59.4% | 0.3% |
| Ameris Bank | $4,830,000 | $2,575,000 | -46.7% | 0.3% |
| NexBank | $1,575,000 | $2,430,000 | 54.3% | 0.2% |
| Logan Finance Corporation | $765,000 | $2,405,000 | 214.4% | 0.2% |
| Cornerstone First Mortgage, Inc | $900,000 | $2,330,000 | 158.9% | 0.2% |
| MORTGAGE 1 INCORPORATED | $2,245,000 | n/a | 0.2% | |
| AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | $1,155,000 | $2,195,000 | 90.0% | 0.2% |
| LENDSURE MORTGAGE CORP. | $5,015,000 | $2,145,000 | -57.2% | 0.2% |
| OCMBC, INC. | $2,120,000 | n/a | 0.2% | |
| BankSouth | $2,105,000 | n/a | 0.2% | |
| Webster Bank | $2,105,000 | n/a | 0.2% | |
| BancorpSouth | $2,100,000 | n/a | 0.2% | |
| SPACE COAST Credit Union | $3,780,000 | $2,085,000 | -44.8% | 0.2% |
| The Loan Store, Inc. | $2,045,000 | n/a | 0.2% | |
| SWBC MORTGAGE CORPORATION | $1,795,000 | $2,020,000 | 12.5% | 0.2% |
| Prime Meridian Bank | $5,025,000 | $1,990,000 | -60.4% | 0.2% |
| CNB Bank | $1,965,000 | n/a | 0.2% | |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $675,000 | $1,895,000 | 180.7% | 0.2% |
| MOVEMENT MORTGAGE, LLC | $2,860,000 | $1,870,000 | -34.6% | 0.2% |
| Third Federal Savings and Loan Association of Cleveland | $1,935,000 | $1,835,000 | -5.2% | 0.2% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $460,000 | $1,790,000 | 289.1% | 0.2% |
| NATIONS DIRECT MORTGAGE, LLC | $1,760,000 | n/a | 0.2% | |
| INB | $1,755,000 | n/a | 0.2% | |
| Sentry Bank | $1,725,000 | n/a | 0.2% | |
| ChoiceOne Bank | $1,705,000 | n/a | 0.2% | |
| MY MORTGAGE, INC. | $1,645,000 | $1,645,000 | 0.0% | 0.2% |
| VELOCITY COMMERCIAL CAPITAL, LLC | $4,935,000 | $1,640,000 | -66.8% | 0.2% |
| LENDINGHOME FUNDING CORPORATION | $4,445,000 | $1,635,000 | -63.2% | 0.2% |
| Nicolet National Bank | $1,855,000 | $1,525,000 | -17.8% | 0.2% |
| GSF Mortgage Corporation | $1,520,000 | n/a | 0.2% | |
| Farmers Bank & Trust | $1,515,000 | n/a | 0.2% | |
| City National Bank | $10,195,000 | $1,505,000 | -85.2% | 0.2% |
| The Park National Bank | $1,320,000 | $1,505,000 | 14.0% | 0.2% |
| POINT Mortgage | $1,495,000 | n/a | 0.2% | |
| REDWOOD RESIDENTIAL ACQUISITION CORPORATION | $1,495,000 | n/a | 0.2% | |
| STOCKTON MORTGAGE CORPORATION | $865,000 | $1,460,000 | 68.8% | 0.1% |
| Integrity Home Mortgage Corp | $1,440,000 | n/a | 0.1% | |
| CIBC Bank USA | $2,515,000 | $1,435,000 | -42.9% | 0.1% |
| Fulton Bank | $505,000 | $1,425,000 | 182.2% | 0.1% |
| Northpointe Bank | $2,265,000 | $1,425,000 | -37.1% | 0.1% |
| READY MORTGAGE LENDERS, LLC | $1,465,000 | $1,405,000 | -4.1% | 0.1% |
| ITHINK FINANCIAL Credit Union | $5,090,000 | $1,385,000 | -72.8% | 0.1% |
| LONGBRIDGE FINANCIAL, LLC | $1,660,000 | $1,375,000 | -17.2% | 0.1% |
| Sierra Pacific Mortgage Company, Inc. | $2,925,000 | $1,350,000 | -53.8% | 0.1% |
| NBH Bank | $1,325,000 | n/a | 0.1% | |
| DIRECT MORTGAGE LOANS, LLC | $1,310,000 | n/a | 0.1% | |
| Figure Lending LLC | $615,000 | $1,305,000 | 112.2% | 0.1% |
| NATIONWIDE MORTGAGE BANKERS, INC. | $2,565,000 | $1,300,000 | -49.3% | 0.1% |
| Prosperity Home Mortgage, LLC | $1,295,000 | n/a | 0.1% | |
| CHURCHILL MORTGAGE CORPORATION | $715,000 | $1,290,000 | 80.4% | 0.1% |
| BAY EQUITY LLC | $1,285,000 | n/a | 0.1% | |
| FIRST EQUITY MORTGAGE BANKERS, INC. | $2,155,000 | $1,260,000 | -41.5% | 0.1% |
| FIRST CREDIT CORPORATION OF NEW YORK, INC. | $1,245,000 | n/a | 0.1% | |
| ConnectOne Bank | $1,205,000 | n/a | 0.1% | |
| The Park Bank | $1,205,000 | n/a | 0.1% | |
| United Community Bank | $1,350,000 | $1,195,000 | -11.5% | 0.1% |
| RADIUS FINANCIAL GROUP INC. | $265,000 | $1,180,000 | 345.3% | 0.1% |
| Shore United Bank | $2,280,000 | $1,155,000 | -49.3% | 0.1% |
| ALLIANT CREDIT UNION | $3,905,000 | $1,150,000 | -70.6% | 0.1% |
| AMERICAN FINANCIAL RESOURCES, INC. | $1,110,000 | n/a | 0.1% | |
| SENB Bank | $1,100,000 | n/a | 0.1% | |
| USAA Federal Savings Bank | $1,905,000 | $1,100,000 | -42.3% | 0.1% |
| V.I.P. MORTGAGE, INC. | $1,095,000 | n/a | 0.1% | |
| RESIDENTIAL BANCORP | $1,090,000 | n/a | 0.1% | |
| Ocean Bank | $1,080,000 | n/a | 0.1% | |
| Desjardins Bank | $1,305,000 | $1,060,000 | -18.8% | 0.1% |
| PENTAGON FEDERAL CREDIT UNION | $3,645,000 | $1,040,000 | -71.5% | 0.1% |
| GEORGIA'S OWN | $2,805,000 | $1,035,000 | -63.1% | 0.1% |
| American Airlines Federal Credit Union | $625,000 | $1,030,000 | 64.8% | 0.1% |
| Signature Bank, N.A. | $1,005,000 | n/a | 0.1% | |
| The State Bank and Trust Company | $1,005,000 | n/a | 0.1% | |
| OAKTREE FUNDING CORP. | $2,990,000 | $990,000 | -66.9% | 0.1% |
| TOWNE MORTGAGE COMPANY | $305,000 | $965,000 | 216.4% | 0.1% |
| AMERICAN HERITAGE LENDING, INC. | $495,000 | $955,000 | 92.9% | 0.1% |
| FIRST HOME MORTGAGE CORPORATION | $955,000 | n/a | 0.1% | |
| AMERISAVE MORTGAGE CORPORATION | $14,145,000 | $950,000 | -93.3% | 0.1% |
| HOMESTEAD FUNDING CORP. | $595,000 | $945,000 | 58.8% | 0.1% |
| Community First Bank | $915,000 | n/a | 0.1% | |
| Atlantic Coast Mortgage, LLC | $1,370,000 | $905,000 | -33.9% | 0.1% |
| BELEM SERVICING LLC | $885,000 | n/a | 0.1% | |
| ALTRA | $875,000 | n/a | 0.1% | |
| Bell Bank | $875,000 | n/a | 0.1% | |
| Core Bank | $875,000 | n/a | 0.1% | |
| CALCON MUTUAL MORTGAGE LLC | $545,000 | $820,000 | 50.5% | 0.1% |
| Texas Bank and Trust Company | $805,000 | n/a | 0.1% | |
| Coastal Community Bank | $795,000 | n/a | 0.1% | |
| BROKER SOLUTIONS, INC. | $2,890,000 | $790,000 | -72.7% | 0.1% |
| DYBN FINANCIAL CORP. | $765,000 | n/a | 0.1% | |
| Ukrainian Selfreliance Federal Credit Union | $765,000 | n/a | 0.1% | |
| Pinnacle Bank | $2,515,000 | $755,000 | -70.0% | 0.1% |
| Discover Bank | $525,000 | $740,000 | 41.0% | 0.1% |
| DELTA COMMUNITY CREDIT UNION | $725,000 | n/a | 0.1% | |
| DG PINNACLE FUNDING LLC | $725,000 | n/a | 0.1% | |
| Busey Bank | $705,000 | n/a | 0.1% | |
| Equity Prime Mortgage LLC | $1,830,000 | $705,000 | -61.5% | 0.1% |
| FirstBank | $795,000 | $705,000 | -11.3% | 0.1% |
| State Department Federal Credit Union | $1,305,000 | $705,000 | -46.0% | 0.1% |
| Suncoast Credit Union | $1,440,000 | $705,000 | -51.0% | 0.1% |
| MIAMI FIREFIGHTERS FCU | $700,000 | n/a | 0.1% | |
| PACIFIC RESIDENTIAL MORTGAGE, LLC | $685,000 | n/a | 0.1% | |
| AMERANT BANK, NATIONAL ASSOCIATION | $905,000 | $680,000 | -24.9% | 0.1% |
| Carrollton Bank | $675,000 | n/a | 0.1% | |
| Choice Financial Group | $655,000 | n/a | 0.1% | |
| NETWORK CAPITAL FUNDING CORPORATION | $2,320,000 | $650,000 | -72.0% | 0.1% |
| NMSI, INC. | $645,000 | n/a | 0.1% | |
| AmRes Corporation | $635,000 | n/a | 0.1% | |
| Heritage Bank | $635,000 | n/a | 0.1% | |
| T2 FINANCIAL LLC | $2,395,000 | $635,000 | -73.5% | 0.1% |
| First Financial Bank | $605,000 | n/a | 0.1% | |
| ORLANDO CREDIT UNION | $605,000 | n/a | 0.1% | |
| SOUTH FLORIDA EDUCATIONAL | $595,000 | n/a | 0.1% | |
| VILLAGE CAPITAL MORTGAGE | $505,000 | $595,000 | 17.8% | 0.1% |
| RESIDENTIAL WHOLESALE MORTGAGE, INC. | $585,000 | n/a | 0.1% | |
| TRIAD FINANCIAL SERVICES, INC. | $600,000 | $585,000 | -2.5% | 0.1% |
| PREMIA MORTGAGE, LLC | $575,000 | n/a | 0.1% | |
| THOMPSON KANE & COMPANY, LLC | $575,000 | n/a | 0.1% | |
| 1ST FINANCIAL, INC. | $2,430,000 | $565,000 | -76.7% | 0.1% |
| ATLANTIC BAY MORTGAGE GROUP, L.L.C. | $435,000 | $565,000 | 29.9% | 0.1% |
| First Commonwealth Bank | $905,000 | $565,000 | -37.6% | 0.1% |
| M&T Bank | $2,145,000 | $565,000 | -73.7% | 0.1% |
| LIBERTY HOME MORTGAGE CORPORATION | $555,000 | n/a | 0.1% | |
| GTE Federal Credit Union | $360,000 | $540,000 | 50.0% | 0.1% |
| CARDINAL FINANCIAL | $7,465,000 | $525,000 | -93.0% | 0.1% |
| First American Bank | $1,860,000 | $525,000 | -71.8% | 0.1% |
| AMERITRUST MORTGAGE CORPORATION | $515,000 | n/a | 0.1% | |
| LEADERONE FINANCIAL CORPORATION | $515,000 | n/a | 0.1% | |
| Barrington Bank & Trust Company, N.A. | $585,000 | $505,000 | -13.7% | 0.1% |
| BMO Harris Bank | $2,505,000 | $505,000 | -79.8% | 0.1% |
| UBank | $735,000 | $505,000 | -31.3% | 0.1% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $1,430,000 | $505,000 | -64.7% | 0.1% |
| First Dakota National Bank | $495,000 | n/a | 0.1% | |
| Genesee Regional Bank | $485,000 | n/a | 0.0% | |
| NATIONWIDE EQUITIES CORPORATION | $6,665,000 | $485,000 | -92.7% | 0.0% |
| Southern Michigan Bank & Trust | $485,000 | n/a | 0.0% | |
| First Heritage Mortgage, LLC | $475,000 | n/a | 0.0% | |
| MICHIGAN MUTUAL, INC. | $510,000 | $475,000 | -6.9% | 0.0% |
| Keystone Funding, Inc. | $455,000 | n/a | 0.0% | |
| SPRING EQ, LLC | $2,520,000 | $455,000 | -81.9% | 0.0% |
| Carrington Mortgage Services, LLC | $655,000 | $445,000 | -32.1% | 0.0% |
| THE MORTGAGE FIRM, INC. | $1,060,000 | $435,000 | -59.0% | 0.0% |
| Easthampton Savings Bank | $225,000 | $425,000 | 88.9% | 0.0% |
| MORTGAGE INVESTORS GROUP, INC. | $445,000 | $425,000 | -4.5% | 0.0% |
| Baxter Credit Union | $155,000 | $405,000 | 161.3% | 0.0% |
| PremierBank | $405,000 | n/a | 0.0% | |
| Bethpage Federal Credit Union | $335,000 | $400,000 | 19.4% | 0.0% |
| Bank of Belleville | $395,000 | n/a | 0.0% | |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $365,000 | n/a | 0.0% | |
| BETTER MORTGAGE CORPORATION | $2,435,000 | $355,000 | -85.4% | 0.0% |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $1,285,000 | $355,000 | -72.4% | 0.0% |
| CRANE | $345,000 | n/a | 0.0% | |
| FREEDOM MORTGAGE CORPORATION | $4,755,000 | $345,000 | -92.7% | 0.0% |
| Stifel Bank and Trust | $2,360,000 | $345,000 | -85.4% | 0.0% |
| MEGASTAR FINANCIAL CORP. | $315,000 | n/a | 0.0% | |
| OceanFirst Bank | $305,000 | n/a | 0.0% | |
| Popular Bank | $13,200,000 | $305,000 | -97.7% | 0.0% |
| QUORUM FEDERAL CREDIT UNION | $1,255,000 | $295,000 | -76.5% | 0.0% |
| Mr. Cooper ( Nationstar Mortgage ) | $5,345,000 | $265,000 | -95.0% | 0.0% |
| PLANET HOME LENDING, LLC | $2,545,000 | $265,000 | -89.6% | 0.0% |
| CALIBER HOME LOANS, INC. | $22,855,000 | $255,000 | -98.9% | 0.0% |
| Northwest Federal Credit Union | $635,000 | $255,000 | -59.8% | 0.0% |
| TOWER | $250,000 | $255,000 | 2.0% | 0.0% |
| TROPICAL FINANCIAL CREDIT UNION | $360,000 | $255,000 | -29.2% | 0.0% |
| S&T Bank | $245,000 | n/a | 0.0% | |
| TOGETHER CREDIT UNION | $225,000 | n/a | 0.0% | |
| MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION | $215,000 | n/a | 0.0% | |
| GREENWOOD | $660,000 | $205,000 | -68.9% | 0.0% |
| INTELLILOAN, INC. | $205,000 | n/a | 0.0% | |
| Nations Lending Corporation | $1,540,000 | $205,000 | -86.7% | 0.0% |
| RBC Bank, (Georgia) | $645,000 | $205,000 | -68.2% | 0.0% |
| WINGS FINANCIAL | $175,000 | $205,000 | 17.1% | 0.0% |
| PROVIDENT FUNDING ASSOCIATES, L.P. | $155,000 | n/a | 0.0% | |
| AMERICAN HERITAGE FCU | $135,000 | n/a | 0.0% | |
| Southwest Airlines Federal Credit Union | $105,000 | n/a | 0.0% | |
| Alaska USA Federal Credit Union | $95,000 | n/a | 0.0% | |
| PRINCE GEORGE'S COMMUNITY | $75,000 | n/a | 0.0% | |
| Grow Financial Federal Credit Union | $405,000 | $55,000 | -86.4% | 0.0% |
| CHERRY CREEK MORTGAGE, LLC | $45,000 | n/a | 0.0% |
Key West's top lender by overall market share is First Horizon Bank, with 11.0% market share. In second place, with 10.4%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $102,105,000 in loans. In third place, with 3.7%, is The Northern Trust Company, having originated $35,995,000 in loans. In fourth place, with 3.5%, is QUICKEN LOANS, LLC, having originated $33,860,000 in loans. In fifth place, with 3.4%, is Bank of America, having originated $33,490,000 in loans.
Key West, FL Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 912 | $752,770,000 | $825,406 |
| Cash Out Refi | 135 | $85,255,000 | $631,519 |
| Home Improvement | 133 | $29,995,000 | $225,526 |
| Other | 100 | $45,950,000 | $459,500 |
| Refi | 93 | $64,175,000 | $690,054 |
Key West's most frequently cited loan purpose was Home Purchase, with 912 originations. The 2nd most popular reason was Cash Out Refi, with 135 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 419 | $292,045,000 | $697,005 |
| 7-8% | 323 | $205,245,000 | $635,433 |
| Over 8% | 287 | $152,555,000 | $531,551 |
| 5-6% | 251 | $253,365,000 | $1,009,422 |
| 4-5% | 51 | $45,035,000 | $883,039 |
| 2.5-3% | 15 | $4,485,000 | $299,000 |
| <2.5% | 5 | $915,000 | $183,000 |
| 3-4% | 2 | $3,520,000 | $1,760,000 |
During 2023, Key West's most frequently originated rate bucket was 6-7%, with 419 originations.
Loan Sizing (Key West, FL MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $600k-1000k | 390 | $287,410,000 | $736,949 |
| $400k-600k | 326 | $161,890,000 | $496,595 |
| $Over $1MM | 236 | $440,640,000 | $1,867,119 |
| $200k-400k | 226 | $67,780,000 | $299,912 |
| $100k-200k | 109 | $15,195,000 | $139,404 |
| $100,000 or less | 86 | $5,230,000 | $60,814 |
Key West's loan sizing saw the bucket of loans from $600k-1000k with 390 originations, totaling $287,410,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 60-80% | 425 | $402,395,000 | $946,812 |
| 80-100% | 321 | $245,825,000 | $765,810 |
| Under 20% | 217 | $35,625,000 | $164,171 |
| 40-60% | 188 | $168,710,000 | $897,394 |
| 20-40% | 175 | $85,215,000 | $486,943 |
| Over 100% | 19 | $11,735,000 | $617,632 |
Key West's loan sizing saw loans grouped in the 60-80% Loan-to-value bucket with 425 originations, totaling $402,395,000 in origination value.