Southeast Bank Mortgage Rates, Fees & Info
Farragut, TNLEI: 54930089R5VSN6GVCK47
Tax ID: 62-1859961
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Mortgage Data
Review & Overview
Southeast Bank is a smaller bank specializing in Home Purchase loans. Southeast Bank has a high proportion of conventional loans. Their top markets by origination volume include: Knoxville, Myrtle Beach, Chattanooga, Dayton, and Cleveland among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)Southeast Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Southeast Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.
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
340Origination Dollar Volume (All Markets)
$110,340,000Awards
SouthEast Bank - 2023
SouthEast Bank is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Southeast Bank's average 30 year fixed mortgage rate was
6.17%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.31%.
Relative Fees (Closing Costs)
Southeast Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,042.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
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 |
|---|---|---|---|---|---|
| KNOXVILLE, TN (FHA|USDA|VA) | 139 | $45,565,000 | $327,806 | $3,304 | 7.62% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $22,365,000 | $22,365,000 | $0 | 7.60% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 76 | $18,730,000 | $246,447 | $4,169 | 8.02% |
| Dayton, TN (FHA|USDA|VA) | 37 | $4,985,000 | $134,730 | $1,184 | 7.87% |
| CLEVELAND, TN (FHA|USDA|VA) | 18 | $4,610,000 | $256,111 | $4,061 | 7.86% |
| Outside of Metro Areas | 20 | $3,090,000 | $154,500 | $3,746 | 8.01% |
| Cookeville, TN (FHA|USDA|VA) | 19 | $2,755,000 | $145,000 | $1,822 | 8.26% |
| Athens, TN (FHA|USDA|VA) | 19 | $2,455,000 | $129,211 | $1,810 | 7.80% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $2,005,000 | $2,005,000 | $21,443 | 8.25% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $1,725,000 | $1,725,000 | $16,130 | 8.25% |
| MORRISTOWN, TN (FHA|USDA|VA) | 2 | $830,000 | $415,000 | $0 | 8.38% |
| Sevierville, TN (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $4,654 | 8.00% |
| ROME, GA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 8.50% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 8.50% |
| DALTON, GA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 8.50% |
| Tullahoma-Manchester, TN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $1,882 | 7.50% |
| McMinnville, TN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 8.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against SouthEast Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 68
Similarity Rank: 230
Similarity Rank: 282
Similarity Rank: 378
Similarity Rank: 648
Similarity Rank: 648
Similarity Rank: 784
Similarity Rank: 1024
Similarity Rank: 1104
Similarity Rank: 3726
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 212 | $32,350,000 | $152,594 | n/a | 8.04% |
| Conventional | 128 | $77,990,000 | $609,297 | $3,609 | 7.50% |
For 2023, Southeast Bank's most frequently originated type of loan was HELOC, with 212 originations. Their 2nd most popular type was Conventional, with 128 originations.
Loan Reason
For 2023, Southeast Bank's most frequently cited loan purpose was Home Purchase, with 114 originations. The 2nd most popular reason was Other, with 98 originations.
Loan Duration/Length
For 2023, Southeast Bank's most frequently cited loan duration was 10 Year, with 208 originations. The 2nd most popular length was 30 Year, with 48 originations.
Origination Fees/Closing Costs
Southeast Bank's average total fees were $4,042, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 45 originations.
Interest Rates
During 2023, Southeast Bank's average interest rate for loans was 6.17%, while their most frequently originated rate bucket for loans was Over 8%, with 192 originations.
Loan Sizing
2023 saw Southeast Bank place emphasis on $100,000 or less loans with 100 originations, totaling $5,280,000 in origination value.
Applicant Income
Southeast Bank lent most frequently to those with incomes in the $100k-150k range, with 65 originations. The second most popular income band? $250k+, with 64 originations.
Applicant Debt to Income Ratio
Southeast Bank lent most frequently to those with DTI ratios of 20-30%, with 77 originations. The next most common DTI ratio? 30-36%, with 52 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.40%
Southeast Bank has an average approval rate.
Pick Rate
Approvals leading to origination84.12%
Southeast Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 340 | $110,340,000 | $324,529 |