Banksouth Mortgage Rates, Fees & Info
Dothan, ALLEI: 5493003F5IG7YZ4PQ253
Tax ID: 63-0015200
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Mortgage Data
Review & Overview
Banksouth is a smaller bank specializing in Home Purchase and Refi loans. Banksouth has a high proportion of conventional loans. Their top markets by origination volume include: Dothan, Alexander City, Crestview, Key West, and Panama City among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)Banksouth has an above average approval rate when compared to the average across all lenders.
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Originations
63Origination Dollar Volume (All Markets)
$22,615,000Top 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 |
|---|---|---|---|---|---|
| DOTHAN, AL (FHA|USDA|VA) | 41 | $10,435,000 | $254,512 | $0 | 0.00% |
| Alexander City, AL (FHA|USDA|VA) | 5 | $4,445,000 | $889,000 | $0 | 0.00% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 3 | $2,415,000 | $805,000 | $0 | 0.00% |
| Key West, FL (FHA|USDA|VA) | 1 | $2,105,000 | $2,105,000 | $0 | 0.00% |
| PANAMA CITY, FL (FHA|USDA|VA) | 3 | $1,175,000 | $391,667 | $0 | 0.00% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $0 | 0.00% |
| Outside of Metro Areas | 3 | $475,000 | $158,333 | $0 | 0.00% |
| AUBURN-OPELIKA, AL (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $0 | 0.00% |
| Ozark, AL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| MONTGOMERY, AL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| Scottsboro, AL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 63 | $22,615,000 | $358,968 | $0 | 0.00% |
For 2023, Banksouth's most frequently originated type of loan was Conventional, with 63 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 41 | $16,315,000 | $397,927 | $0 | 0.00% |
| Refi | 18 | $5,570,000 | $309,444 | $0 | 0.00% |
| Other | 4 | $730,000 | $182,500 | $0 | 0.00% |
For 2023, Banksouth's most frequently cited loan purpose was Home Purchase, with 41 originations. The 2nd most popular reason was Refi, with 18 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 63 | $22,615,000 | $358,968 | $0 | 0.00% |
For 2023, Banksouth's most frequently cited loan duration was Other, with 63 originations.
Loan Sizing
2023 saw Banksouth place emphasis on $200k-400k loans with 20 originations, totaling $5,470,000 in origination value.
Applicant Income
Banksouth lent most frequently to those with incomes in the $250k+ range, with 24 originations. The second most popular income band? $100k-150k, with 9 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 63 | $22,615,000 | $358,968 | $0 | 0.00% |
Banksouth lent most frequently to those with DTI ratios of Exempt%, with 63 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 56 | $17,890,000 | $319,464 | $0 | 0.00% |
| Not applicable | 7 | $4,725,000 | $675,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications100.00%
Banksouth has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 63 | $22,615,000 | $358,968 |