Southern Heritage Bank Mortgage Rates, Fees & Info

Jonesville, LA

LEI: 549300684I276INJKK63

Tax ID: 72-0711760

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Southern Heritage Bank is a smaller bank specializing in Refi and Home Purchase loans. Southern Heritage Bank has a high proportion of conventional loans. Their top markets by origination volume include: Alexandria, Natchitoches, Monroe, New Orleans, and Lafayette among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Southern Heritage Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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    Originations

    276

    Origination Dollar Volume (All Markets)

    $35,190,000

    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
    ALEXANDRIA, LA (FHA|USDA|VA) 143 $20,685,000 $144,650 $0 0.00%
    Outside of Metro Areas 122 $11,380,000 $93,279 $0 0.00%
    Natchitoches, LA (FHA|USDA|VA) 5 $2,015,000 $403,000 $0 0.00%
    MONROE, LA (FHA|USDA|VA) 3 $415,000 $138,333 $0 0.00%
    NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 1 $345,000 $345,000 $0 0.00%
    LAFAYETTE, LA (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
    SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
    Southern Heritage Bank's top markets include Alexandria, Natchitoches, Monroe, New Orleans, and Lafayette among others.

    Their top states include:
  • Louisiana (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 276 $35,190,000 $127,500 $0 0.00%

    For 2023, Southern Heritage Bank's most frequently originated type of loan was Conventional, with 276 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 106 $10,410,000 $98,208 $0 0.00%
    Home Purchase 105 $17,965,000 $171,095 $0 0.00%
    Cash Out Refi 34 $4,780,000 $140,588 $0 0.00%
    Home Improvement 23 $1,495,000 $65,000 $0 0.00%
    Other 8 $540,000 $67,500 $0 0.00%

    For 2023, Southern Heritage Bank's most frequently cited loan purpose was Refi, with 106 originations. The 2nd most popular reason was Home Purchase, with 105 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 276 $35,190,000 $127,500 $0 0.00%

    For 2023, Southern Heritage Bank's most frequently cited loan duration was Other, with 276 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 169 $9,075,000 $53,698 $0 0.00%
    $100k-200k 66 $8,970,000 $135,909 $0 0.00%
    $200k-400k 29 $8,315,000 $286,724 $0 0.00%
    $400k-600k 5 $2,385,000 $477,000 $0 0.00%
    $600k-1MM 5 $4,045,000 $809,000 $0 0.00%
    $1MM+ 2 $2,400,000 $1,200,000 $0 0.00%

    2023 saw Southern Heritage Bank place emphasis on $100,000 or less loans with 169 originations, totaling $9,075,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 34 $2,090,000 $61,471 $0 0.00%
    $50k or less 34 $2,110,000 $62,059 $0 0.00%
    $150k-250k 28 $4,060,000 $145,000 $0 0.00%
    $75k-100k 28 $2,620,000 $93,571 $0 0.00%
    $100k-150k 27 $2,305,000 $85,370 $0 0.00%
    $250k+ 21 $4,395,000 $209,286 $0 0.00%

    Southern Heritage Bank lent most frequently to those with incomes in the $50k-75k range, with 34 originations. The second most popular income band? $50k or less, with 34 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 276 $35,190,000 $127,500 $0 0.00%

    Southern Heritage Bank lent most frequently to those with DTI ratios of Exempt%, with 276 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 98 $16,870,000 $172,143 $0 0.00%
    White 166 $15,950,000 $96,084 $0 0.00%
    Black 5 $1,325,000 $265,000 $0 0.00%
    Asian 7 $1,045,000 $149,286 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.94%

    Southern Heritage Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    91.30%

    Southern Heritage Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 276 $35,190,000 $127,500

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    276 $35,190,000 $127,500