Metro area · Florida

Lakeland-Winter Haven, FL metro: mortgages and home buyers

2025 home-purchase and refinance statistics for the 1-county Lakeland-Winter Haven, FL area (OMB code 29460), from official HMDA records.

In 2025, lenders reported 10,477 home-purchase mortgages for owner-occupied, single-family homes in the Lakeland-Winter Haven, FL metro area. The median buyer borrowed $305,000 on a home valued at $325,000 and reported a household income of $90,000.

Buyers financed a median 96.5% of the home's value (roughly 3.5% down), paid a median 6.50% on 30-year fixed conventional loans and faced median conventional loan costs of $6,140.

Lenders denied 18.2% of completed home-purchase applications.

Purchase loans

10,477

1 county

Buyer income

$90,000

U.S. $116,000

Loan amount

$305,000

U.S. $335,000

Down payment

3.5%

U.S. 10%

30-yr fixed rate

6.50%

U.S. 6.625%

Denial rate

18.2%

Purchase · U.S. 8.5%

Key facts

Home buyers' median income ($90,000) is 22% lower than the U.S. median ($116,000).
The median 30-year fixed conventional rate here was 13 basis points below the U.S. median (6.625%).
Median conventional loan costs ($6,140) were 10% higher than the U.S. median ($5,570).
FHA loans made up 53.3% of purchase mortgages, versus 21.1% nationally.
19.8% of buyers put at least 20% down (financed 80% or less), compared with 38.5% nationally.
The most common age bracket among borrowers was 25–34 (28.5% of purchase loans).
54.0% of purchase mortgages had a single borrower with no co-applicant.
The most-cited reason for denial was debt-to-income ratio (48.6% of denials with a stated reason).

Counties in the metro area

County	Purchase loans	Median loan	Buyer income	30-yr rate	Loan costs	Conforming limit	FHA limit
Polk County, FL	10,477	$305,000	$90,000	6.500%	$6,140	$832,750	$541,287

Who bought homes in Lakeland

Home-purchase mortgages for owner-occupied, single-family (1–4 unit) site-built homes, first liens, originated in 2025.

Purchase loans

10,477

of 13,086 applications

Buyer income

$90,000

Middle half $71,000–$121,000

Home value

$325,000

Middle half $285,000–$375,000

Loan amount

$305,000

Middle half $255,000–$345,000

Down payment

3.5%

19.8% put 20%+ down

Single borrower

54.0%

No co-applicant

Values are medians; "middle half" is the 25th to 75th percentile.

Loan type

Conventional 34.9% 3,653

FHA 53.3% 5,584

VA 11.2% 1,178

USDA 0.6% 62

What the homes were for

Primary residence 93.6% 11,279

Second home 3.5% 427

Investment property 2.8% 340

All first-lien, closed-end purchase mortgages, including second homes and investors.

Borrower age

Under 25 6.1%

25–34 28.5%

35–44 26.4%

45–54 18.1%

55–64 12.5%

65–74 6.3%

75 and over 2.2%

Debt-to-income ratio

Under 20% 1.5%

20–29% 6.4%

30–35% 9.4%

36–42% 20.4%

43–49% 34.8%

50–60% 26.8%

Over 60% 0.7%

Monthly debts (including the new payment) as a share of income, as used in underwriting.

What borrowing cost in Lakeland

Medians for 2025 home-purchase loans. Total loan costs are section D of the Loan Estimate/Closing Disclosure (lender and third-party loan charges, excluding taxes, prepaids and escrow). FHA and VA costs include the upfront mortgage insurance premium or VA funding fee, so compare like with like.

Measure	Lakeland	U.S.
30-year fixed rate · conventional	6.500%	6.625%
30-year fixed rate · FHA	5.625%	6.250%
30-year fixed rate · VA	5.990%	6.125%
15-year fixed rate · conventional	5.625%	5.875%
Rate spread vs. APOR · conventional	+0.10 pts	+0.13 pts
Total loan costs · conventional	$6,140	$5,570
Total loan costs · FHA	$10,980	$11,310
Total loan costs · VA	$5,490	$6,490
Origination charges (all loan types)	$1,880	$1,860
Borrowers paying discount points	62.1%	51.3%
Points paid, when paid (% of loan)	1.09%	0.87%
Borrowers receiving lender credits	28.5%	33.1%
Adjustable-rate mortgages	5.3%	7.4%
Jumbo loans (above conforming limit)	0.4%	3.8%

Medians are shown only when at least 30 loans report the field. Rates are those reported at closing; market rates changed during 2025, which the rate spread (APR minus the average prime offer rate on the lock date) adjusts for.

Approvals and denials

Lakeland: 2,387 of 13,086 completed home-purchase applications were denied (18.2%).

Denial rate

Application	Lakeland	U.S.
Home purchase	18.2%	8.5%
Conventional	14.3%	7.1%
FHA	21.3%	12.5%
VA	13.4%	8.0%
USDA	36.4%	12.5%
Refinance	31.2%	17.9%
Cash-out refinance	43.2%	33.6%

Main reason for purchase denials

Debt-to-income ratio 48.6%

Credit history 16.9%

Unverifiable information 8.2%

Other 6.5%

Insufficient cash (down payment/closing costs) 6.5%

Collateral (appraisal/property) 4.8%

Credit application incomplete 4.7%

Employment history 3.8%

Mortgage insurance denied 0.0%

First reason the lender reported.

Denial rate = denied ÷ (originated + approved but not accepted + denied). Withdrawn and incomplete applications are excluded. Differences between places reflect who applies, not only lender behavior.

Refinancing in Lakeland

Refinances

1,187

Median loan $305,000

Refi rate

6.125%

30-yr fixed, conv.

Refi loan costs

$5,390

Conventional

Cash-out refis

1,301

Median loan $235,000

Cash-out rate

6.874%

30-yr fixed, conv.

Cash-out income

$82,000

Median borrower

Source: FFIEC/CFPB HMDA 2025 public LAR (derived MSA/MD); OMB July 2023 delineations via the U.S. Census Bureau. Methodology