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, Panama City, Crestview, Alexander City, and Daphne among others. We have data for 9 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
47Origination Dollar Volume (All Markets)
$10,015,000Top 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) | 37 | $7,505,000 | $202,838 | $0 | 0.00% |
| PANAMA CITY, FL (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $0 | 0.00% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $0 | 0.00% |
| Alexander City, AL (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 0.00% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $0 | 0.00% |
| Ozark, AL (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $0 | 0.00% |
| AUBURN-OPELIKA, AL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $5,000 | $5,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 47 | $10,015,000 | $213,085 | $0 | 0.00% |
For 2018, Banksouth's most frequently originated type of loan was Conventional, with 47 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 26 | $7,000,000 | $269,231 | $0 | 0.00% |
| Refi | 19 | $2,975,000 | $156,579 | $0 | 0.00% |
| Home Improvement | 2 | $40,000 | $20,000 | $0 | 0.00% |
For 2018, Banksouth's most frequently cited loan purpose was Home Purchase, with 26 originations. The 2nd most popular reason was Refi, with 19 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 47 | $10,015,000 | $213,085 | $0 | 0.00% |
For 2018, Banksouth's most frequently cited loan duration was Other, with 47 originations.
Loan Sizing
2018 saw Banksouth place emphasis on $100,000 or less loans with 20 originations, totaling $1,070,000 in origination value.
Applicant Income
Banksouth lent most frequently to those with incomes in the $250k+ range, with 15 originations. The second most popular income band? $50k or less, with 7 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 47 | $10,015,000 | $213,085 | $0 | 0.00% |
Banksouth lent most frequently to those with DTI ratios of Exempt%, with 47 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 39 | $8,165,000 | $209,359 | $0 | 0.00% |
| Not applicable | 8 | $1,850,000 | $231,250 | $0 | 0.00% |
Approval Rates
Total approvals of all applications97.92%
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 | 47 | $10,015,000 | $213,085 |