Is LoanFlight a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by LoanFlight to those of other lenders for a comparable set of borrowers. We maintain our independence by not accepting any money from the mortgage lenders we review. Going by historical data, here is our review of LoanFlight nationally:
|Interest Rate||lower than other lenders (-0.11%)|
|Loan Related Closing Costs||lower than other lenders (-$265)|
|National Rate and Closing Cost Star Rating||(4)|
On average, LoanFlight’s interest rates were lower than those of other lenders (-0.11%) for a comparable set of borrowers. Its loan related closing costs were also lower than those of other lenders, with a difference of -$265. Overall, combining interest rates and closing costs we estimate that LoanFlight tends to be a cheap lender, and give it a National Rate and Closing Costs Rating of 4 out of 5 stars. To visit LoanFlight, its website is located at: https://www.loanflight.com.
LoanFlight’s Rate Review by City
Mortgage lenders often set different rates in different geographical markets. In particular, among the cities we track LoanFlight was most active in:
You can click through to check out LoanFlight’s mortgage rate relative to those of other lenders within each city. Or, for our entire list of the top mortgage lenders by city, click here.
LoanFlight’s Rate Review by Mortgage Type
Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, LoanFlight originated Conforming, Jumbo and USDA mortgages for new home purchases. It also originated Conforming and Jumbo mortgages for refinances. Its average interest rate and total loan related closing cost difference relative to other lenders for comparable borrowers by mortgages type is as follows.
|New Purchase Mortgages||Conforming||Jumbo||USDA|
|Interest Rate Difference||-0.03%||+0.00%||+0.00%|
|Loan Related Closing Cost Difference||-$87||+$77||-$16|
|Cost Adjusted Rate Difference||-0.04%||+0.00%||-0.00%|
|National Star Rating|
|Interest Rate Difference||-0.12%||-0.00%|
|Loan Related Closing Cost Difference||-$291||+$43|
|Cost Adjusted Rate Difference||-0.14%||-0.00%|
|Average Star Rating|
As a summary, LoanFlight is similar to other lenders for Conforming, Jumbo and USDA purchase mortgages. For refinancing mortgages, LoanFlight is cheap for Conforming mortgage refinance. It is similar to other lenders for Jumbo mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.
Other information about LoanFlight:
Registered city and state: Tampa, FL, 33607
Regulator: United States Department of Housing and Urban Development (HUD)
* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for LoanFlight’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.