Southern Bank Of Tennessee Mortgage Rates, Fees & Info
Mount Juliet, TNLEI: 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
130Origination Dollar Volume (All Markets)
$40,220,000Top 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 |
|---|---|---|---|---|---|
| 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% |
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
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
2023 saw Southern Bank Of Tennessee place emphasis on $200k-400k loans with 57 originations, totaling $16,125,000 in origination value.
Applicant Income
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
Approval Rates
Total approvals of all applications90.85%
Southern Bank Of Tennessee has an average approval rate.
Pick Rate
Approvals leading to origination86.15%
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 |