First State Bank Of The Southeast Mortgage Rates, Fees & Info
MIDDLESBORO, KYLEI: 254900KPOZQ8VODWDS72
Tax ID: 61-0192880
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Mortgage Data
Review & Overview
First State Bank Of The Southeast is a smaller bank specializing in Home Purchase loans. First State Bank Of The Southeast has a high proportion of conventional loans. Their top markets by origination volume include: London, Lexington, Middlesborough, Knoxville, and Richmond among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)First State Bank Of The Southeast 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.
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Originations
88Origination Dollar Volume (All Markets)
$16,600,000Top 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 |
|---|---|---|---|---|---|
| London, KY (FHA|USDA|VA) | 30 | $6,010,000 | $200,333 | $0 | 0.00% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 10 | $3,930,000 | $393,000 | $0 | 0.00% |
| Outside of Metro Areas | 14 | $2,350,000 | $167,857 | $0 | 0.00% |
| Middlesborough, KY (FHA|USDA|VA) | 22 | $2,120,000 | $96,364 | $0 | 0.00% |
| KNOXVILLE, TN (FHA|USDA|VA) | 6 | $1,390,000 | $231,667 | $0 | 0.00% |
| Richmond-Berea, KY (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $0 | 0.00% |
| MORRISTOWN, TN (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $0 | 0.00% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 88 | $16,600,000 | $188,636 | $0 | 0.00% |
For 2023, First State Bank Of The Southeast's most frequently originated type of loan was Conventional, with 88 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 62 | $14,000,000 | $225,806 | $0 | 0.00% |
| Refi | 20 | $2,120,000 | $106,000 | $0 | 0.00% |
| Other | 6 | $480,000 | $80,000 | $0 | 0.00% |
For 2023, First State Bank Of The Southeast's most frequently cited loan purpose was Home Purchase, with 62 originations. The 2nd most popular reason was Refi, with 20 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 88 | $16,600,000 | $188,636 | $0 | 0.00% |
For 2023, First State Bank Of The Southeast's most frequently cited loan duration was Other, with 88 originations.
Loan Sizing
2023 saw First State Bank Of The Southeast place emphasis on $100k-200k loans with 34 originations, totaling $4,900,000 in origination value.
Applicant Income
First State Bank Of The Southeast lent most frequently to those with incomes in the $100k-150k range, with 15 originations. The second most popular income band? $50k or less, with 14 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 88 | $16,600,000 | $188,636 | $0 | 0.00% |
First State Bank Of The Southeast lent most frequently to those with DTI ratios of Exempt%, with 88 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications83.85%
First State Bank Of The Southeast has a below average approval rate.
Pick Rate
Approvals leading to origination54.55%
First State Bank Of The Southeast 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 |
|---|---|---|---|
| Exempt | 88 | $16,600,000 | $188,636 |