Southern States Bank Mortgage Rates, Fees & Info

Anniston, AL

LEI: 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: Atlanta, Columbus, Auburn, Alexander City, and Huntsville among others. We have data for 24 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

145

Origination Dollar Volume (All Markets)

$40,805,000

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
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 32 $14,670,000 $458,438 $0 0.00%
COLUMBUS, GA-AL (FHA|USDA|VA) 37 $6,135,000 $165,811 $0 0.00%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 14 $5,770,000 $412,143 $0 0.00%
Outside of Metro Areas 18 $1,930,000 $107,222 $0 0.00%
Alexander City, AL (FHA|USDA|VA) 3 $1,605,000 $535,000 $0 0.00%
HUNTSVILLE, AL (FHA|USDA|VA) 3 $1,425,000 $475,000 $0 0.00%
MONTGOMERY, AL (FHA|USDA|VA) 1 $1,145,000 $1,145,000 $0 0.00%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 4 $1,130,000 $282,500 $0 0.00%
ALBANY, GA (FHA|USDA|VA) 1 $855,000 $855,000 $0 0.00%
Scottsboro, AL (FHA|USDA|VA) 2 $850,000 $425,000 $0 0.00%
Enterprise, AL (FHA|USDA|VA) 1 $785,000 $785,000 $0 0.00%
Cedartown, GA (FHA|USDA|VA) 3 $595,000 $198,333 $0 0.00%
LaGrange, GA-AL (FHA|USDA|VA) 5 $585,000 $117,000 $0 0.00%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $505,000 $505,000 $0 0.00%
PANAMA CITY, FL (FHA|USDA|VA) 2 $500,000 $250,000 $0 0.00%
Milledgeville, GA (FHA|USDA|VA) 1 $475,000 $475,000 $0 0.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $455,000 $455,000 $0 0.00%
THE VILLAGES, FL (FHA|USDA|VA) 1 $365,000 $365,000 $0 0.00%
ANNISTON-OXFORD, AL (FHA|USDA|VA) 6 $320,000 $53,333 $0 0.00%
Talladega-Sylacauga, AL (FHA|USDA|VA) 5 $245,000 $49,000 $0 0.00%
MACON-BIBB COUNTY, GA (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
MOBILE, AL (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
Southern States Bank's top markets include Atlanta, Columbus, Auburn, Alexander City, and Huntsville among others.

Their top states include:
  • Georgia (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 145 $40,805,000 $281,414 $0 0.00%

    For 2024, Southern States Bank's most frequently originated type of loan was Conventional, with 145 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 72 $29,270,000 $406,528 $0 0.00%
    Refi 63 $9,555,000 $151,667 $0 0.00%
    Home Improvement 6 $1,850,000 $308,333 $0 0.00%
    Other 4 $130,000 $32,500 $0 0.00%

    For 2024, Southern States Bank's most frequently cited loan purpose was Home Purchase, with 72 originations. The 2nd most popular reason was Refi, with 63 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 145 $40,805,000 $281,414 $0 0.00%

    For 2024, Southern States Bank's most frequently cited loan duration was Other, with 145 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 63 $3,495,000 $55,476 $0 0.00%
    $200k-400k 28 $8,350,000 $298,214 $0 0.00%
    $100k-200k 25 $3,515,000 $140,600 $0 0.00%
    $400k-600k 13 $6,245,000 $480,385 $0 0.00%
    $1MM+ 10 $14,800,000 $1,480,000 $0 0.00%
    $600k-1MM 6 $4,400,000 $733,333 $0 0.00%

    2024 saw Southern States Bank place emphasis on $100,000 or less loans with 63 originations, totaling $3,495,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 24 $15,210,000 $633,750 $0 0.00%
    $50k or less 18 $1,470,000 $81,667 $0 0.00%
    $100k-150k 14 $1,550,000 $110,714 $0 0.00%
    $150k-250k 12 $4,040,000 $336,667 $0 0.00%
    $75k-100k 12 $1,490,000 $124,167 $0 0.00%
    $50k-75k 9 $605,000 $67,222 $0 0.00%

    Southern States Bank lent most frequently to those with incomes in the $250k+ range, with 24 originations. The second most popular income band? $50k or less, with 18 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 145 $40,805,000 $281,414 $0 0.00%

    Southern States Bank lent most frequently to those with DTI ratios of Exempt%, with 145 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 56 $16,440,000 $293,571 $0 0.00%
    White 73 $16,375,000 $224,315 $0 0.00%
    Other Asian 2 $3,370,000 $1,685,000 $0 0.00%
    Asian 7 $3,165,000 $452,143 $0 0.00%
    Asian Indian 2 $640,000 $320,000 $0 0.00%
    Black 4 $440,000 $110,000 $0 0.00%
    Not provided 1 $375,000 $375,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    89.64%

    Southern States Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.69%

    Southern States Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 145 $40,805,000 $281,414

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    145 $40,805,000 $281,414