Southerntrust Bank Mortgage Rates, Fees & Info

Goreville, IL

LEI: 5493001ONS27RG5HKB81

Tax ID: 20-2862630

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Mortgage Data

Review & Overview

Southerntrust Bank is a smaller bank specializing in Home Purchase, Refi, and Home Improvement loans. Southerntrust Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Carbondale, Boston, Orlando, Paducah, and Cape Girardeau among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

Southerntrust 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

97

Origination Dollar Volume (All Markets)

$17,305,000

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
CARBONDALE-MARION, IL (FHA|USDA|VA) 82 $13,700,000 $167,073 $0 0.00%
Outside of Metro Areas 10 $1,410,000 $141,000 $0 0.00%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $825,000 $825,000 $0 0.00%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $685,000 $685,000 $0 0.00%
Paducah, KY-IL (FHA|USDA|VA) 2 $410,000 $205,000 $0 0.00%
CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) 1 $275,000 $275,000 $0 0.00%
Southerntrust Bank's top markets include Carbondale, Boston, Orlando, Paducah, and Cape Girardeau among others.

Their top states include:
  • Illinois (FHA|USDA|VA)
  • Massachusetts (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 96 $16,870,000 $175,729 $0 0.00%
    USDA 1 $435,000 $435,000 $0 0.00%

    For 2023, Southerntrust Bank's most frequently originated type of loan was Conventional, with 96 originations. Their 2nd most popular type was USDA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 36 $6,880,000 $191,111 $0 0.00%
    Refi 25 $5,015,000 $200,600 $0 0.00%
    Home Improvement 21 $3,525,000 $167,857 $0 0.00%
    Cash Out Refi 15 $1,885,000 $125,667 $0 0.00%

    For 2023, Southerntrust Bank's most frequently cited loan purpose was Home Purchase, with 36 originations. The 2nd most popular reason was Refi, with 25 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 97 $17,305,000 $178,402 $0 0.00%

    For 2023, Southerntrust Bank's most frequently cited loan duration was Other, with 97 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 37 $1,995,000 $53,919 $0 0.00%
    $100k-200k 31 $4,635,000 $149,516 $0 0.00%
    $200k-400k 22 $6,060,000 $275,455 $0 0.00%
    $400k-600k 3 $1,395,000 $465,000 $0 0.00%
    $600k-1MM 3 $2,115,000 $705,000 $0 0.00%
    $1MM+ 1 $1,105,000 $1,105,000 $0 0.00%

    2023 saw Southerntrust Bank place emphasis on $100,000 or less loans with 37 originations, totaling $1,995,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 21 $2,355,000 $112,143 $0 0.00%
    $250k+ 12 $3,660,000 $305,000 $0 0.00%
    $100k-150k 11 $1,935,000 $175,909 $0 0.00%
    $50k or less 11 $695,000 $63,182 $0 0.00%
    $150k-250k 8 $1,740,000 $217,500 $0 0.00%
    $50k-75k 3 $185,000 $61,667 $0 0.00%

    Southerntrust Bank lent most frequently to those with incomes in the $75k-100k range, with 21 originations. The second most popular income band? $250k+, with 12 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 97 $17,305,000 $178,402 $0 0.00%

    Southerntrust Bank lent most frequently to those with DTI ratios of Exempt%, with 97 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 65 $10,475,000 $161,154 $0 0.00%
    Not applicable 31 $6,735,000 $217,258 $0 0.00%
    Black 1 $95,000 $95,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.69%

    Southerntrust Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    94.85%

    Southerntrust Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 97 $17,305,000 $178,402

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    97 $17,305,000 $178,402