Southern States Bank Mortgage Rates, Fees & Info
Anniston, ALLEI: 5493001XP7X9J8PCH525
Tax ID: 20-8866792
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Mortgage Data
Review & Overview
Southern States Bank is a smaller bank specializing in Home Purchase and Refi loans. Southern States Bank has a high proportion of conventional loans. Their top markets by origination volume include: Columbus, Atlanta, Louisville, Huntsville, and Rocky Mount among others. We have data for 22 markets. (Some data included below & more in-depth data is available with an active subscription.)Southern States Bank 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
109Origination Dollar Volume (All Markets)
$54,455,000Top 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 |
|---|---|---|---|---|---|
| COLUMBUS, GA-AL (FHA|USDA|VA) | 45 | $14,315,000 | $318,111 | $0 | 0.00% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 13 | $8,025,000 | $617,308 | $0 | 0.00% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $5,725,000 | $5,725,000 | $0 | 0.00% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 1 | $5,605,000 | $5,605,000 | $0 | 0.00% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 1 | $5,005,000 | $5,005,000 | $0 | 0.00% |
| AUBURN-OPELIKA, AL (FHA|USDA|VA) | 8 | $4,230,000 | $528,750 | $0 | 0.00% |
| TUSCALOOSA, AL (FHA|USDA|VA) | 2 | $3,380,000 | $1,690,000 | $0 | 0.00% |
| Outside of Metro Areas | 13 | $1,925,000 | $148,077 | $0 | 0.00% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 1 | $1,725,000 | $1,725,000 | $0 | 0.00% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $0 | 0.00% |
| DOTHAN, AL (FHA|USDA|VA) | 1 | $655,000 | $655,000 | $0 | 0.00% |
| Fort Payne, AL (FHA|USDA|VA) | 1 | $615,000 | $615,000 | $0 | 0.00% |
| Talladega-Sylacauga, AL (FHA|USDA|VA) | 1 | $535,000 | $535,000 | $0 | 0.00% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 0.00% |
| LaGrange, GA-AL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| Douglas, GA (FHA|USDA|VA) | 6 | $240,000 | $40,000 | $0 | 0.00% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $0 | 0.00% |
| Alexander City, AL (FHA|USDA|VA) | 3 | $225,000 | $75,000 | $0 | 0.00% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| Milledgeville, GA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| Jefferson, GA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| ANNISTON-OXFORD, AL (FHA|USDA|VA) | 3 | $125,000 | $41,667 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 109 | $54,455,000 | $499,587 | $0 | 0.00% |
For 2023, Southern States Bank's most frequently originated type of loan was Conventional, with 109 originations.
Loan Reason
For 2023, Southern States Bank's most frequently cited loan purpose was Home Purchase, with 57 originations. The 2nd most popular reason was Refi, with 43 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 109 | $54,455,000 | $499,587 | $0 | 0.00% |
For 2023, Southern States Bank's most frequently cited loan duration was Other, with 109 originations.
Loan Sizing
2023 saw Southern States Bank place emphasis on $100,000 or less loans with 49 originations, totaling $2,775,000 in origination value.
Applicant Income
Southern States Bank lent most frequently to those with incomes in the $50k or less range, with 10 originations. The second most popular income band? $150k-250k, with 8 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 109 | $54,455,000 | $499,587 | $0 | 0.00% |
Southern States Bank lent most frequently to those with DTI ratios of Exempt%, with 109 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications87.12%
Southern States Bank has an average approval rate.
Pick Rate
Approvals leading to origination69.72%
Southern States Bank 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 | 109 | $54,455,000 | $499,587 |