First Southern National Bank Mortgage Rates, Fees & Info

Lancaster, KY

LEI: 549300C853H86L248593

Tax ID: 61-0290000

5 stars

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

Review & Overview

First Southern National Bank is a smaller bank specializing in Home Purchase and Refi loans. First Southern National Bank has a high proportion of conventional loans. Their top markets by origination volume include: Bowling Green, Lexington, Central City, Danville, and Richmond among others. We have data for 32 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Southern National 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. First Southern National 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 about average 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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SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
Home Equity Line of Credit (HELOC)	6.27%	3/24/23
30 Year Conventional Purchase	6.60%	3/24/23
30 Year Conventional Refi	6.87%	3/24/23
15 Year Conventional Purchase	6.35%	3/24/23
15 Year Conventional Refi	6.47%	3/24/23
15 Year Cash-out Refi	6.47%	3/24/23
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.

Originations

809

Origination Dollar Volume (All Markets)

$129,855,000

Relative Rate

First Southern National Bank's average 30 year fixed mortgage rate was 4.73%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of -0.03%.

Relative Fees (Closing Costs)

First Southern National Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $2,767.

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 $4,750.

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
Outside of Metro Areas	290	$34,790,000	$119,966	$1,716	4.94%
BOWLING GREEN, KY (FHA\|USDA\|VA)	109	$21,895,000	$200,872	$2,672	4.98%
LEXINGTON-FAYETTE, KY (FHA\|USDA\|VA)	60	$17,410,000	$290,167	$4,225	4.78%
Central City, KY (FHA\|USDA\|VA)	140	$13,300,000	$95,000	$1,577	4.77%
Danville, KY (FHA\|USDA\|VA)	71	$9,185,000	$129,366	$2,165	5.10%
Richmond-Berea, KY (FHA\|USDA\|VA)	42	$8,460,000	$201,429	$3,625	4.78%
PHOENIX-MESA-CHANDLER, AZ (FHA\|USDA\|VA)	3	$5,185,000	$1,728,333	$13,682	4.87%
Somerset, KY (FHA\|USDA\|VA)	32	$4,130,000	$129,063	$2,475	5.11%
LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA\|USDA\|VA)	8	$3,420,000	$427,500	$3,647	5.34%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA\|USDA\|VA)	5	$1,835,000	$367,000	$10,374	5.61%
CLARKSVILLE, TN-KY (FHA\|USDA\|VA)	14	$1,520,000	$108,571	$3,077	5.03%
BIRMINGHAM-HOOVER, AL (FHA\|USDA\|VA)	3	$1,075,000	$358,333	$5,637	4.83%
Paducah, KY-IL (FHA\|USDA\|VA)	4	$1,030,000	$257,500	$4,370	4.64%
Frankfort, KY (FHA\|USDA\|VA)	3	$835,000	$278,333	$1,553	4.37%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA\|USDA\|VA)	1	$615,000	$615,000	$7,711	3.60%
Tupelo, MS (FHA\|USDA\|VA)	2	$610,000	$305,000	$3,366	5.25%
AUBURN-OPELIKA, AL (FHA\|USDA\|VA)	1	$485,000	$485,000	$0	5.25%
Glasgow, KY (FHA\|USDA\|VA)	4	$470,000	$117,500	$2,381	5.88%
Oxford, MS (FHA\|USDA\|VA)	2	$460,000	$230,000	$0	5.67%
CLEVELAND, TN (FHA\|USDA\|VA)	1	$435,000	$435,000	$0	3.99%
CHATTANOOGA, TN-GA (FHA\|USDA\|VA)	1	$405,000	$405,000	$0	5.15%
London, KY (FHA\|USDA\|VA)	1	$395,000	$395,000	$2,008	4.25%
Dallas-Fort Worth-Arlington, TX (FHA\|USDA\|VA)	1	$375,000	$375,000	$8,465	3.95%
CAPE CORAL-FORT MYERS, FL (FHA\|USDA\|VA)	1	$325,000	$325,000	$5,281	4.90%
Martin, TN (FHA\|USDA\|VA)	1	$245,000	$245,000	$0	5.95%
Madisonville, KY (FHA\|USDA\|VA)	2	$200,000	$100,000	$2,335	4.98%
JACKSON, TN (FHA\|USDA\|VA)	1	$175,000	$175,000	$2,059	3.60%
OWENSBORO, KY (FHA\|USDA\|VA)	2	$160,000	$80,000	$1,777	3.73%
EVANSVILLE, IN-KY (FHA\|USDA\|VA)	1	$145,000	$145,000	$0	5.25%
Lawrenceburg, TN (FHA\|USDA\|VA)	1	$135,000	$135,000	$2,590	3.60%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA\|USDA\|VA)	1	$125,000	$125,000	$2,959	3.95%
Mount Sterling, KY (FHA\|USDA\|VA)	1	$25,000	$25,000	$1,205	4.51%

First Southern National Bank's top markets include Bowling Green, Lexington, Central City, Danville, and Richmond among others.

Their top states include:

Kentucky (FHA|USDA|VA)

Arizona (FHA|USDA|VA)

Tennessee (FHA|USDA|VA)

Alabama (FHA|USDA|VA)

Mississippi (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	611	$110,675,000	$181,137	$2,230	4.80%
HELOC	198	$19,180,000	$96,869	n/a	5.29%

For 2022, First Southern National Bank's most frequently originated type of loan was Conventional, with 611 originations. Their 2nd most popular type was HELOC, with 198 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	360	$78,120,000	$217,000	$2,877	4.83%
Refi	275	$41,105,000	$149,473	$1,561	4.82%
Home Improvement	93	$5,645,000	$60,699	$1,240	5.10%
Other	81	$4,985,000	$61,543	$1,388	5.41%

For 2022, First Southern National Bank's most frequently cited loan purpose was Home Purchase, with 360 originations. The 2nd most popular reason was Refi, with 275 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	236	$47,140,000	$199,746	$2,597	4.68%
5 Year	152	$15,100,000	$99,342	$1,022	5.18%
10 Year	108	$9,260,000	$85,741	$1,492	5.23%
20 Year	107	$20,135,000	$188,178	$2,132	4.81%
15 Year	107	$14,035,000	$131,168	$1,715	4.86%
1 Year	50	$10,280,000	$205,600	$1,424	5.09%
30 Year	33	$8,665,000	$262,576	$2,767	4.73%
30+ year	8	$3,620,000	$452,500	$2,982	4.51%
3 Year	8	$1,620,000	$202,500	$835	5.02%

For 2022, First Southern National Bank's most frequently cited loan duration was Other, with 236 originations. The 2nd most popular length was 5 Year, with 152 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	180	$19,920,000	$110,667
$1k-2k	122	$18,680,000	$153,115
$2k-3k	54	$13,240,000	$245,185
$5k+	13	$10,335,000	$795,000
$3k-4k	12	$3,740,000	$311,667
$4k-5k	12	$5,170,000	$430,833

First Southern National Bank's average total fees were $2,767, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 180 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
4-5%	380	$65,090,000	$171,289
5-6%	157	$17,185,000	$109,459
3-4%	142	$28,770,000	$202,606
6-7%	102	$16,720,000	$163,922
7-8%	26	$2,060,000	$79,231
<2.5%	1	$15,000	$15,000
Over 8%	1	$15,000	$15,000

During 2022, First Southern National Bank's average interest rate for loans was 4.73%, while their most frequently originated rate bucket for loans was 4-5%, with 380 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	384	$20,020,000	$52,135	$1,231	5.14%
$100k-200k	222	$30,940,000	$139,369	$1,988	4.80%
$200k-400k	157	$44,155,000	$281,242	$2,919	4.63%
$400k-600k	25	$11,775,000	$471,000	$4,468	4.56%
$600k-1MM	14	$10,200,000	$728,571	$8,721	4.38%
$1MM+	7	$12,765,000	$1,823,571	$7,112	5.23%

2022 saw First Southern National Bank place emphasis on $100,000 or less loans with 384 originations, totaling $20,020,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	153	$14,315,000	$93,562	$1,726	5.00%
$100k-150k	149	$23,825,000	$159,899	$2,619	4.82%
$75k-100k	125	$14,125,000	$113,000	$1,858	4.92%
$50k or less	118	$8,820,000	$74,746	$1,488	4.99%
$150k-250k	81	$19,185,000	$236,852	$3,122	4.74%
$250k+	40	$17,970,000	$449,250	$5,838	4.87%

First Southern National Bank lent most frequently to those with incomes in the $50k-75k range, with 153 originations. The second most popular income band? $100k-150k, with 149 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	207	$25,515,000	$123,261	$1,909	4.90%
<20%	136	$17,280,000	$127,059	$2,254	4.85%
30-36%	115	$18,405,000	$160,043	$2,294	4.85%
50-60%	43	$7,745,000	$180,116	$2,766	5.06%
>60%	23	$5,825,000	$253,261	$2,363	4.96%
40%	23	$2,765,000	$120,217	$2,010	4.83%
42%	17	$2,995,000	$176,176	$2,329	4.65%
39%	16	$2,540,000	$158,750	$2,038	5.08%
38%	16	$1,990,000	$124,375	$2,448	4.95%
37%	15	$4,105,000	$273,667	$3,846	4.71%
36%	14	$2,230,000	$159,286	$1,962	5.02%
44%	11	$1,905,000	$173,182	$1,581	4.76%
48%	8	$1,590,000	$198,750	$1,696	4.94%
45%	8	$1,520,000	$190,000	$2,896	5.25%
49%	7	$1,735,000	$247,857	$4,685	4.84%
43%	7	$1,195,000	$170,714	$2,273	4.48%
46%	6	$570,000	$95,000	$1,160	5.16%
41%	5	$955,000	$191,000	$2,354	5.23%
47%	4	$640,000	$160,000	$2,787	5.11%

First Southern National Bank lent most frequently to those with DTI ratios of 20-30%, with 207 originations. The next most common DTI ratio? <20%, with 136 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	679	$101,615,000	$149,654	$2,217	4.90%
Not applicable	116	$26,330,000	$226,983	$0	5.05%
Black	11	$1,575,000	$143,182	$3,143	4.62%
Asian	3	$335,000	$111,667	$1,644	5.26%

Approval Rates

Total approvals of all applications
98.87%

First Southern National Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
92.09%

First Southern National Bank has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
1136.0	1	$75,000	$75,000
596.0	1	$35,000	$35,000
806.0	1	$45,000	$45,000
856.0	1	$55,000	$55,000
956.0	1	$65,000	$65,000
NA	804	$129,580,000	$161,169

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	809	$129,855,000	$160,513

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	164	$12,470,000	$76,037	$1,446	5.09%
40-60%	177	$26,495,000	$149,689	$2,066	4.95%
60-80%	232	$51,570,000	$222,284	$2,486	4.79%
80-100%	186	$35,840,000	$192,688	$2,601	4.83%
Over 100%	7	$1,795,000	$256,429	$3,257	4.20%
Under 20%	43	$1,685,000	$39,186	$1,023	5.29%

Complaints

Bank Name	Product	Issue	2022 CPFB Complaints	% of Total Issues
FIRST CITIZENS BANCSHARES, INC.	Home equity loan or line of credit (HELOC)	Applying for a mortgage or refinancing an existing mortgage	1	100.0%