Southern Bank Of Tennessee Mortgage Rates, Fees & Info

Mount Juliet, TN

LEI: 54930022I573MYIIOM33

Tax ID: 62-1743353

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Mortgage Data

Review & Overview

Southern Bank Of Tennessee is a smaller bank specializing in Home Purchase and Refi loans. Southern Bank Of Tennessee has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Nashville, Knoxville, Tullahoma, Clarksville, and Cookeville among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

Southern Bank Of Tennessee has an above 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

130

Origination Dollar Volume (All Markets)

$40,220,000

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
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 110 $34,760,000 $316,000 $0 0.00%
KNOXVILLE, TN (FHA|USDA|VA) 6 $1,290,000 $215,000 $0 0.00%
Tullahoma-Manchester, TN (FHA|USDA|VA) 4 $1,180,000 $295,000 $0 0.00%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 3 $865,000 $288,333 $0 0.00%
Outside of Metro Areas 3 $805,000 $268,333 $0 0.00%
Cookeville, TN (FHA|USDA|VA) 2 $690,000 $345,000 $0 0.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $405,000 $405,000 $0 0.00%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
Southern Bank Of Tennessee's top markets include Nashville, Knoxville, Tullahoma, Clarksville, and Cookeville among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 116 $34,680,000 $298,966 $0 0.00%
    FHA 9 $3,075,000 $341,667 $0 0.00%
    VA 5 $2,465,000 $493,000 $0 0.00%

    For 2023, Southern Bank Of Tennessee's most frequently originated type of loan was Conventional, with 116 originations. Their 2nd most popular type was FHA, with 9 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 79 $29,265,000 $370,443 $0 0.00%
    Refi 43 $9,725,000 $226,163 $0 0.00%
    Home Improvement 3 $165,000 $55,000 $0 0.00%
    Cash Out Refi 3 $1,005,000 $335,000 $0 0.00%
    Other 2 $60,000 $30,000 $0 0.00%

    For 2023, Southern Bank Of Tennessee's most frequently cited loan purpose was Home Purchase, with 79 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 130 $40,220,000 $309,385 $0 0.00%

    For 2023, Southern Bank Of Tennessee's most frequently cited loan duration was Other, with 130 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 57 $16,125,000 $282,895 $0 0.00%
    $100k-200k 24 $3,470,000 $144,583 $0 0.00%
    $400k-600k 23 $11,135,000 $484,130 $0 0.00%
    $100,000 or less 16 $980,000 $61,250 $0 0.00%
    $600k-1MM 7 $5,135,000 $733,571 $0 0.00%
    $1MM+ 3 $3,375,000 $1,125,000 $0 0.00%

    2023 saw Southern Bank Of Tennessee place emphasis on $200k-400k loans with 57 originations, totaling $16,125,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 25 $8,395,000 $335,800 $0 0.00%
    $75k-100k 25 $6,215,000 $248,600 $0 0.00%
    $150k-250k 21 $9,415,000 $448,333 $0 0.00%
    $250k+ 16 $5,580,000 $348,750 $0 0.00%
    $50k-75k 12 $2,140,000 $178,333 $0 0.00%
    $50k or less 8 $1,000,000 $125,000 $0 0.00%

    Southern Bank Of Tennessee lent most frequently to those with incomes in the $100k-150k range, with 25 originations. The second most popular income band? $75k-100k, with 25 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 130 $40,220,000 $309,385 $0 0.00%

    Southern Bank Of Tennessee lent most frequently to those with DTI ratios of Exempt%, with 130 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 103 $30,895,000 $299,951 $0 0.00%
    Not applicable 22 $7,420,000 $337,273 $0 0.00%
    Not provided 2 $770,000 $385,000 $0 0.00%
    Asian 2 $730,000 $365,000 $0 0.00%
    Black 1 $405,000 $405,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.85%

    Southern Bank Of Tennessee has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.15%

    Southern Bank Of Tennessee has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 130 $40,220,000 $309,385

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    130 $40,220,000 $309,385