South Central Bank Mortgage Rates, Fees & Info
CHICAGO, ILLEI: 5493008KRFDENOBVE608
Tax ID: 36-2551990
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Mortgage Data
Review & Overview
South Central Bank is a smaller bank specializing in Home Purchase loans. South Central Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Chicago, Milwaukee, Phoenix, Louisville, and Pittsburgh among others. We have data for 28 markets. (Some data included below & more in-depth data is available with an active subscription.)South Central 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.
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Originations
168Origination Dollar Volume (All Markets)
$14,790,000Top 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 |
|---|---|---|---|---|---|
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 83 | $12,495,000 | $150,542 | $0 | 0.00% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 22 | $420,000 | $19,091 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 0.00% |
| LOUISVILLE, KY (FHA|USDA|VA) | 7 | $245,000 | $35,000 | $0 | 0.00% |
| PITTSBURGH, PA (FHA|USDA|VA) | 10 | $210,000 | $21,000 | $0 | 0.00% |
| Whitewater, WI (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 0.00% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 5 | $145,000 | $29,000 | $0 | 0.00% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 3 | $105,000 | $35,000 | $0 | 0.00% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 3 | $85,000 | $28,333 | $0 | 0.00% |
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 5 | $85,000 | $17,000 | $0 | 0.00% |
| Wooster, OH (FHA|USDA|VA) | 2 | $70,000 | $35,000 | $0 | 0.00% |
| SHEBOYGAN, WI (FHA|USDA|VA) | 3 | $65,000 | $21,667 | $0 | 0.00% |
| AKRON, OH (FHA|USDA|VA) | 3 | $55,000 | $18,333 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $40,000 | $20,000 | $0 | 0.00% |
| Beaver Dam, WI (FHA|USDA|VA) | 2 | $40,000 | $20,000 | $0 | 0.00% |
| MUSKEGON, MI (FHA|USDA|VA) | 2 | $40,000 | $20,000 | $0 | 0.00% |
| RACINE, WI (FHA|USDA|VA) | 2 | $40,000 | $20,000 | $0 | 0.00% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 2 | $30,000 | $15,000 | $0 | 0.00% |
| Holland, MI (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
| Watertown-Fort Atkinson, WI (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
| Salem, OH (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 0.00% |
| Fort Dodge, IA (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 0.00% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 0.00% |
| MADISON, WI (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 0.00% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 0.00% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 0.00% |
| AMES, IA (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 0.00% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against South Central Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 28
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 124 | $13,180,000 | $106,290 | $0 | 0.00% |
| FHA | 44 | $1,610,000 | $36,591 | $0 | 0.00% |
For 2018, South Central Bank's most frequently originated type of loan was Conventional, with 124 originations. Their 2nd most popular type was FHA, with 44 originations.
Loan Reason
For 2018, South Central Bank's most frequently cited loan purpose was Home Improvement, with 115 originations. The 2nd most popular reason was Home Purchase, with 31 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 168 | $14,790,000 | $88,036 | $0 | 0.00% |
For 2018, South Central Bank's most frequently cited loan duration was Other, with 168 originations.
Loan Sizing
2018 saw South Central Bank place emphasis on $100,000 or less loans with 123 originations, totaling $3,015,000 in origination value.
Applicant Income
South Central Bank lent most frequently to those with incomes in the $50k-75k range, with 44 originations. The second most popular income band? $100k-150k, with 39 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 168 | $14,790,000 | $88,036 | $0 | 0.00% |
South Central Bank lent most frequently to those with DTI ratios of Exempt%, with 168 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications72.34%
South Central Bank has a below average approval rate.
Pick Rate
Approvals leading to origination41.07%
South Central Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 168 | $14,790,000 | $88,036 |