Southern Bank And Trust Company Mortgage Rates, Fees & Info
Mount Olive, NCLEI: 5493000XJFWT2H46HI07
Tax ID: 56-0132260
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Mortgage Data
Review & Overview
Southern Bank And Trust Company is a smaller bank specializing in Home Purchase loans. Southern Bank And Trust Company has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Virginia Beach, Wilmington, Kill Devil Hills, Raleigh, and Greenville among others. We have data for 37 markets. (Some data included below & more in-depth data is available with an active subscription.)Southern Bank And Trust Company 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. Southern Bank And Trust Company is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 12/3/24 |
| 30 Year Conventional Purchase | 6.49% | 12/3/24 |
| 30 Year Conventional Refi | 6.57% | 12/3/24 |
| 30 Year Cash-out Refi | 6.65% | 12/3/24 |
| 30 Year VA Purchase | 5.88% | 12/3/24 |
| 30 Year USDA Purchase | 6.31% | 12/3/24 |
| 15 Year Conventional Purchase | 5.96% | 12/3/24 |
| 15 Year Conventional Refi | 6.09% | 12/3/24 |
| 15 Year Cash-out Refi | 6.09% | 12/3/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Southern Bank And Trust Company Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
2,183Origination Dollar Volume (All Markets)
$589,925,000Awards
Southern Bank and Trust Company - 2022
Southern Bank and Trust Company is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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Top 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 |
|---|---|---|---|---|---|
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 331 | $96,165,000 | $290,529 | $5,504 | 4.26% |
| WILMINGTON, NC (FHA|USDA|VA) | 156 | $66,340,000 | $425,256 | $7,355 | 4.05% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 164 | $58,810,000 | $358,598 | $5,998 | 4.25% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 163 | $54,875,000 | $336,656 | $4,600 | 4.09% |
| GREENVILLE, NC (FHA|USDA|VA) | 265 | $52,675,000 | $198,774 | $5,187 | 4.22% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 276 | $49,660,000 | $179,928 | $4,370 | 4.27% |
| Outside of Metro Areas | 216 | $37,620,000 | $174,167 | $4,666 | 4.32% |
| Washington, NC (FHA|USDA|VA) | 100 | $28,150,000 | $281,500 | $4,956 | 4.24% |
| Morehead City, NC (FHA|USDA|VA) | 46 | $22,370,000 | $486,304 | $7,859 | 4.37% |
| Elizabeth City, NC (FHA|USDA|VA) | 79 | $21,315,000 | $269,810 | $5,792 | 4.32% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 41 | $18,505,000 | $451,341 | $6,499 | 3.96% |
| Wilson, NC (FHA|USDA|VA) | 93 | $18,435,000 | $198,226 | $5,280 | 4.21% |
| GOLDSBORO, NC (FHA|USDA|VA) | 73 | $10,955,000 | $150,068 | $4,027 | 4.43% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 17 | $9,265,000 | $545,000 | $5,843 | 4.20% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 17 | $6,795,000 | $399,706 | $6,452 | 4.45% |
| RICHMOND, VA (FHA|USDA|VA) | 11 | $6,285,000 | $571,364 | $6,270 | 4.02% |
| NEW BERN, NC (FHA|USDA|VA) | 25 | $5,205,000 | $208,200 | $4,929 | 4.42% |
| Roanoke Rapids, NC (FHA|USDA|VA) | 38 | $4,370,000 | $115,000 | $3,683 | 4.54% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 5 | $3,875,000 | $775,000 | $4,660 | 4.45% |
| Kinston, NC (FHA|USDA|VA) | 24 | $3,790,000 | $157,917 | $3,468 | 3.86% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 7 | $1,995,000 | $285,000 | $5,178 | 4.36% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 5 | $1,845,000 | $369,000 | $2,654 | 4.03% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 3 | $1,685,000 | $561,667 | $5,459 | 5.30% |
| ASHEVILLE, NC (FHA|USDA|VA) | 5 | $1,515,000 | $303,000 | $4,663 | 3.35% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 4 | $1,440,000 | $360,000 | $7,432 | 3.66% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 4 | $1,400,000 | $350,000 | $5,099 | 3.69% |
| Lumberton, NC (FHA|USDA|VA) | 3 | $825,000 | $275,000 | $5,679 | 4.58% |
| Boone, NC (FHA|USDA|VA) | 2 | $750,000 | $375,000 | $3,500 | 5.13% |
| Marion, NC (FHA|USDA|VA) | 1 | $705,000 | $705,000 | $10,496 | 3.38% |
| Brevard, NC (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $4,026 | 3.25% |
| Cullowhee, NC (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $7,350 | 3.88% |
| LYNCHBURG, VA (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $3,483 | 6.00% |
| BURLINGTON, NC (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 3.75% |
| Sanford, NC (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,201 | 4.25% |
| Danville, VA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,347 | 2.25% |
| Shelby, NC (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $2,959 | 4.38% |
| Henderson, NC (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $3,186 | 3.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against Southern Bank and Trust Company based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2022, Southern Bank And Trust Company's most frequently originated type of loan was Conventional, with 1,204 originations. Their 2nd most popular type was HELOC, with 958 originations.
Loan Reason
For 2022, Southern Bank And Trust Company's most frequently cited loan purpose was Home Purchase, with 899 originations. The 2nd most popular reason was Other, with 637 originations.
Loan Duration/Length
For 2022, Southern Bank And Trust Company's most frequently cited loan duration was 15 Year, with 1,072 originations. The 2nd most popular length was 30 Year, with 507 originations.
Origination Fees/Closing Costs
Southern Bank And Trust Company's average total fees were $4,075, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 290 originations.
Interest Rates
During 2022, Southern Bank And Trust Company's average interest rate for loans was 4.57%, while their most frequently originated rate bucket for loans was 3-4%, with 795 originations.
Loan Sizing
2022 saw Southern Bank And Trust Company place emphasis on $200k-400k loans with 618 originations, totaling $170,760,000 in origination value.
Applicant Income
Southern Bank And Trust Company lent most frequently to those with incomes in the $100k-150k range, with 450 originations. The second most popular income band? $150k-250k, with 436 originations.
Applicant Debt to Income Ratio
Southern Bank And Trust Company lent most frequently to those with DTI ratios of 20-30%, with 460 originations. The next most common DTI ratio? 30-36%, with 344 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.76%
Southern Bank And Trust Company has an average approval rate.
Pick Rate
Approvals leading to origination93.68%
Southern Bank And Trust Company has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 2,183 | $589,925,000 | $270,236 |