Grandsouth Bank Mortgage Rates, Fees & Info
Greenville, SCLEI: 254900NLUIQMYI2MW872
Tax ID: 57-1064274
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Mortgage Data
Review & Overview
Grandsouth Bank is a smaller bank specializing in Home Purchase loans. Grandsouth Bank has a high proportion of conventional loans. Their top markets by origination volume include: Greenville, Charleston, Spartanburg, Sumter, and Greensboro among others. We have data for 21 markets. (Some data included below & more in-depth data is available with an active subscription.)Grandsouth Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
136Origination Dollar Volume (All Markets)
$57,590,000Top 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 |
|---|---|---|---|---|---|
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 78 | $26,430,000 | $338,846 | $0 | 0.00% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 12 | $6,340,000 | $528,333 | $0 | 0.00% |
| SPARTANBURG, SC (FHA|USDA|VA) | 15 | $5,075,000 | $338,333 | $0 | 0.00% |
| SUMTER, SC (FHA|USDA|VA) | 2 | $3,470,000 | $1,735,000 | $0 | 0.00% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $3,445,000 | $3,445,000 | $0 | 0.00% |
| Orangeburg, SC (FHA|USDA|VA) | 8 | $1,560,000 | $195,000 | $0 | 0.00% |
| Seneca, SC (FHA|USDA|VA) | 1 | $1,505,000 | $1,505,000 | $0 | 0.00% |
| COLUMBIA, SC (FHA|USDA|VA) | 5 | $1,425,000 | $285,000 | $0 | 0.00% |
| SAVANNAH, GA (FHA|USDA|VA) | 1 | $1,415,000 | $1,415,000 | $0 | 0.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $1,225,000 | $1,225,000 | $0 | 0.00% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 2 | $1,030,000 | $515,000 | $0 | 0.00% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $905,000 | $905,000 | $0 | 0.00% |
| Sevierville, TN (FHA|USDA|VA) | 1 | $855,000 | $855,000 | $0 | 0.00% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $845,000 | $845,000 | $0 | 0.00% |
| Brevard, NC (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $0 | 0.00% |
| Georgetown, SC (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $0 | 0.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 0.00% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 0.00% |
| Greenwood, SC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $95,000 | $95,000 | $0 | 0.00% |
| Newberry, SC (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 136 | $57,590,000 | $423,456 | $0 | 0.00% |
For 2022, Grandsouth Bank's most frequently originated type of loan was Conventional, with 136 originations.
Loan Reason
For 2022, Grandsouth Bank's most frequently cited loan purpose was Home Purchase, with 100 originations. The 2nd most popular reason was Refi, with 29 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 136 | $57,590,000 | $423,456 | $0 | 0.00% |
For 2022, Grandsouth Bank's most frequently cited loan duration was Other, with 136 originations.
Loan Sizing
2022 saw Grandsouth Bank place emphasis on $200k-400k loans with 43 originations, totaling $11,565,000 in origination value.
Applicant Income
Grandsouth Bank lent most frequently to those with incomes in the $250k+ range, with 16 originations. The second most popular income band? $150k-250k, with 14 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 136 | $57,590,000 | $423,456 | $0 | 0.00% |
Grandsouth Bank lent most frequently to those with DTI ratios of Exempt%, with 136 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.00%
Grandsouth Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination94.12%
Grandsouth Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 136 | $57,590,000 | $423,456 |
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| GUARANTEED RATE INC. | Conventional home mortgage | Trouble during payment process | 1 | 50.0% |
| GUARANTEED RATE INC. | FHA mortgage | Trouble during payment process | 1 | 50.0% |