Southside Bank Mortgage Rates, Fees & Info

Tyler, TX

LEI: 549300BEM32ZRV7MJ178

Tax ID: 75-1046251

5 stars - Updated: 7/11/24 - out of 5 stars, based on 19 reviews

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

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Mortgage Data

Review & Overview

Southside Bank is a smaller bank specializing in Home Purchase loans. Southside Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Houston, Dallas, Tyler, Lufkin, and Sherman among others. We have data for 23 markets. (Some data included below & more in-depth data is available with an active subscription.)

Southside Bank has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Southside Bank is typically an average 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.74% 7/11/24
30 Year Conventional Refi 6.72% 7/11/24
30 Year Cash-out Refi 7.02% 7/11/24
30 Year FHA Purchase 7.45% 7/11/24
30 Year VA Purchase 6.59% 7/11/24
15 Year Conventional Purchase 6.04% 7/11/24
15 Year Conventional Refi 6.43% 7/11/24
15 Year Cash-out Refi 6.43% 7/11/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Southside Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Southside Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

350

Origination Dollar Volume (All Markets)

$171,450,000

Awards

Southside Bank 30 Year Conventional Loans bronze Southside Bank 30 Year Conventional Loans silver
Show all (2) awards

Relative Rate

Southside Bank's average 30 year fixed mortgage rate was 6.99%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.51%.

Relative Fees (Closing Costs)

Southside Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $5,687.

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
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 36 $71,080,000 $1,974,444 $10,163 7.27%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 97 $45,195,000 $465,928 $9,868 6.90%
TYLER, TX (FHA|USDA|VA) 65 $15,785,000 $242,846 $6,207 6.99%
Outside of Metro Areas 37 $8,365,000 $226,081 $7,595 7.31%
Lufkin, TX (FHA|USDA|VA) 32 $7,880,000 $246,250 $5,816 6.91%
SHERMAN-DENISON, TX (FHA|USDA|VA) 8 $5,600,000 $700,000 $13,459 6.72%
Athens, TX (FHA|USDA|VA) 11 $3,235,000 $294,091 $8,715 7.15%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 6 $3,170,000 $528,333 $9,919 7.00%
Nacogdoches, TX (FHA|USDA|VA) 20 $2,590,000 $129,500 $4,453 7.19%
Mineral Wells, TX (FHA|USDA|VA) 2 $1,510,000 $755,000 $16,359 7.31%
Palestine, TX (FHA|USDA|VA) 7 $1,255,000 $179,286 $6,373 6.86%
LONGVIEW, TX (FHA|USDA|VA) 8 $1,100,000 $137,500 $3,309 7.18%
Jacksonville, TX (FHA|USDA|VA) 8 $980,000 $122,500 $3,918 7.39%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $725,000 $725,000 $9,689 7.63%
Granbury, TX (FHA|USDA|VA) 3 $595,000 $198,333 $4,793 7.08%
CORPUS CHRISTI, TX (FHA|USDA|VA) 1 $555,000 $555,000 $6,177 8.00%
COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $475,000 $475,000 $6,593 7.38%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 2 $400,000 $200,000 $4,827 6.94%
BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 1 $335,000 $335,000 $9,897 6.88%
SPRINGFIELD, MO (FHA|USDA|VA) 1 $255,000 $255,000 $10,694 6.63%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $205,000 $205,000 $5,026 7.63%
BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 1 $105,000 $105,000 $2,920 7.50%
Sulphur Springs, TX (FHA|USDA|VA) 1 $55,000 $55,000 $2,171 6.63%
Southside Bank's top markets include Houston, Dallas, Tyler, Lufkin, and Sherman among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Louisiana (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Southside Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    SOUTHERN LENDING SERVICES, LTD.
    Similarity Rank: 136
    HOMEAMERICAN MORTGAGE CORPORATION
    Similarity Rank: 220
    AMOCO
    Similarity Rank: 258
    GIBRALTAR MORTGAGE SERVICES, LLC
    Similarity Rank: 360
    COMMUNITY RESOURCE CREDIT UNION
    Similarity Rank: 714
    DATCU
    Similarity Rank: 981

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 345 $170,215,000 $493,377 $7,890 7.05%
    FHA 3 $715,000 $238,333 $8,356 7.21%
    VA 2 $520,000 $260,000 $12,662 6.88%

    For 2023, Southside Bank's most frequently originated type of loan was Conventional, with 345 originations. Their 2nd most popular type was FHA, with 3 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 233 $133,655,000 $573,627 $10,043 6.98%
    Home Improvement 55 $5,875,000 $106,818 $3,495 7.26%
    Cash Out Refi 28 $9,860,000 $352,143 $4,535 7.15%
    Other 24 $2,760,000 $115,000 $3,609 7.18%
    Refi 10 $19,300,000 $1,930,000 $4,658 7.00%

    For 2023, Southside Bank's most frequently cited loan purpose was Home Purchase, with 233 originations. The 2nd most popular reason was Home Improvement, with 55 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 172 $40,870,000 $237,616 $5,687 6.99%
    30+ year 87 $58,715,000 $674,885 $14,623 6.93%
    15 Year 42 $5,820,000 $138,571 $3,277 7.20%
    5 Year 23 $9,465,000 $411,522 $0 7.59%
    20 Year 10 $1,160,000 $116,000 $5,463 7.34%
    Other 7 $20,795,000 $2,970,714 $14,737 6.94%
    10 Year 6 $1,480,000 $246,667 $4,994 6.47%
    3 Year 2 $32,570,000 $16,285,000 $0 7.65%
    1 Year 1 $575,000 $575,000 $0 8.75%

    For 2023, Southside Bank's most frequently cited loan duration was 30 Year, with 172 originations. The 2nd most popular length was 30+ year, with 87 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 104 $24,070,000 $231,442
    $5k+ 81 $58,935,000 $727,593
    $<1k 63 $4,985,000 $79,127
    $4k-5k 30 $11,760,000 $392,000
    $2k-3k 21 $5,325,000 $253,571
    $3k-4k 17 $4,905,000 $288,529

    Southside Bank's average total fees were $5,687, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 104 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 145 $75,765,000 $522,517
    7-8% 145 $59,745,000 $412,034
    5-6% 31 $10,155,000 $327,581
    Over 8% 29 $25,785,000 $889,138

    During 2023, Southside Bank's average interest rate for loans was 6.99%, while their most frequently originated rate bucket for loans was 6-7%, with 145 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 92 $13,390,000 $145,543 $4,389 7.06%
    $100,000 or less 81 $5,305,000 $65,494 $2,647 7.28%
    $200k-400k 78 $21,960,000 $281,538 $8,403 6.97%
    $600k-1MM 38 $29,290,000 $770,789 $13,955 6.71%
    $400k-600k 35 $17,215,000 $491,857 $11,709 7.03%
    $1MM+ 26 $84,290,000 $3,241,923 $20,005 7.08%

    2023 saw Southside Bank place emphasis on $100k-200k loans with 92 originations, totaling $13,390,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 69 $56,645,000 $820,942 $14,318 6.99%
    $150k-250k 68 $22,980,000 $337,941 $8,741 6.97%
    $100k-150k 57 $13,255,000 $232,544 $6,914 6.97%
    $50k-75k 51 $7,495,000 $146,961 $4,550 7.07%
    $50k or less 41 $4,255,000 $103,780 $3,657 7.15%
    $75k-100k 33 $5,865,000 $177,727 $6,257 6.82%

    Southside Bank lent most frequently to those with incomes in the $250k+ range, with 69 originations. The second most popular income band? $150k-250k, with 68 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 59 $22,185,000 $376,017 $8,220 7.06%
    20-30% 56 $17,880,000 $319,286 $6,751 7.05%
    42% 36 $13,820,000 $383,889 $9,792 6.92%
    41% 22 $7,040,000 $320,000 $8,426 7.15%
    40% 19 $5,635,000 $296,579 $7,546 7.01%
    38% 19 $8,095,000 $426,053 $8,892 6.72%
    <20% 18 $5,820,000 $323,333 $6,869 6.93%
    39% 18 $10,750,000 $597,222 $10,898 6.78%
    37% 14 $4,890,000 $349,286 $7,886 7.21%
    49% 14 $2,410,000 $172,143 $5,212 6.89%
    36% 10 $5,070,000 $507,000 $9,385 7.11%
    44% 8 $1,160,000 $145,000 $4,892 7.05%
    43% 7 $2,325,000 $332,143 $9,889 7.16%
    48% 5 $735,000 $147,000 $4,847 7.30%
    47% 5 $955,000 $191,000 $5,895 7.03%
    45% 4 $790,000 $197,500 $4,995 6.84%
    46% 3 $375,000 $125,000 $4,135 6.79%
    50-60% 1 $375,000 $375,000 $11,085 7.50%

    Southside Bank lent most frequently to those with DTI ratios of 30-36%, with 59 originations. The next most common DTI ratio? 20-30%, with 56 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 274 $86,660,000 $316,277 $7,461 7.04%
    Not applicable 23 $60,135,000 $2,614,565 $0 7.70%
    Not provided 29 $14,885,000 $513,276 $11,607 6.72%
    Asian 9 $5,805,000 $645,000 $11,392 6.70%
    Black 10 $2,740,000 $274,000 $6,859 7.10%
    American Indian 5 $1,225,000 $245,000 $9,724 7.20%

    Approval Rates

    Total approvals of all applications
    67.18%

    Southside Bank has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    49.71%

    Southside 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
    NA 350 $171,450,000 $489,857

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    350 $171,450,000 $489,857

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 55 $11,745,000 $213,545 $3,836 7.13%
    40-60% 43 $44,985,000 $1,046,163 $8,164 6.95%
    60-80% 106 $49,740,000 $469,245 $11,887 7.14%
    80-100% 108 $42,300,000 $391,667 $8,195 6.94%
    Over 100% 2 $520,000 $260,000 $12,662 6.88%
    Under 20% 36 $22,160,000 $615,556 $2,527 7.12%