First Southern National Bank Mortgage Rates, Fees & Info

Lancaster, KY

LEI: 549300C853H86L248593

Tax ID: 61-0290000

5 stars - Updated: 6/16/24 - out of 5 stars, based on 24 reviews

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

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Mortgage 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, Danville, Central City, and Richmond among others. We have data for 23 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 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
Home Equity Line of Credit (HELOC) 6.27% 6/16/24
30 Year Conventional Purchase 6.60% 6/16/24
30 Year Conventional Refi 6.87% 6/16/24
15 Year Conventional Purchase 6.35% 6/16/24
15 Year Conventional Refi 6.47% 6/16/24
15 Year Cash-out Refi 6.47% 6/16/24
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.

First Southern National Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from First Southern National 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

592

Origination Dollar Volume (All Markets)

$90,290,000

Relative Rate

First Southern National Bank's average 30 year fixed mortgage rate was 7.5%.

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

This yields a difference of 1.02%.

Relative Fees (Closing Costs)

First Southern National Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $2,315.

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
Outside of Metro Areas 216 $30,700,000 $142,130 $2,043 7.71%
BOWLING GREEN, KY (FHA|USDA|VA) 82 $15,810,000 $192,805 $2,344 7.56%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 46 $9,720,000 $211,304 $4,209 7.71%
Danville, KY (FHA|USDA|VA) 63 $6,775,000 $107,540 $2,231 7.66%
Central City, KY (FHA|USDA|VA) 98 $6,440,000 $65,714 $1,455 7.77%
Richmond-Berea, KY (FHA|USDA|VA) 21 $4,895,000 $233,095 $4,924 7.73%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 4 $3,880,000 $970,000 $4,837 7.01%
Somerset, KY (FHA|USDA|VA) 21 $2,555,000 $121,667 $2,479 7.95%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 22 $2,470,000 $112,273 $1,528 7.65%
LOUISVILLE, KY (FHA|USDA|VA) 3 $1,595,000 $531,667 $5,931 8.05%
MIDLAND, TX (FHA|USDA|VA) 1 $1,205,000 $1,205,000 $21,866 7.05%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $965,000 $965,000 $1,765 8.25%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $685,000 $685,000 $0 5.99%
WINSTON-SALEM, NC (FHA|USDA|VA) 1 $505,000 $505,000 $7,994 6.50%
Madisonville, KY (FHA|USDA|VA) 3 $375,000 $125,000 $1,612 8.28%
London, KY (FHA|USDA|VA) 2 $360,000 $180,000 $5,027 7.30%
THE VILLAGES, FL (FHA|USDA|VA) 1 $355,000 $355,000 $4,122 7.05%
Sevierville, TN (FHA|USDA|VA) 1 $295,000 $295,000 $5,920 6.75%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $255,000 $255,000 $4,452 7.05%
OWENSBORO, KY (FHA|USDA|VA) 1 $195,000 $195,000 $2,727 6.75%
DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $135,000 $135,000 $0 7.75%
EVANSVILLE, IN-KY (FHA|USDA|VA) 1 $95,000 $95,000 $0 7.00%
PANAMA CITY, FL (FHA|USDA|VA) 1 $25,000 $25,000 $0 7.37%
First Southern National Bank's top markets include Bowling Green, Lexington, Danville, Central City, and Richmond among others.

Their top states include:
  • Kentucky (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Similar Lenders

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

    SERVICE ONE
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    NAVY FEDERAL CREDIT UNION
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 431 $74,405,000 $172,633 $2,352 7.40%
    HELOC 161 $15,885,000 $98,665 n/a 8.45%

    For 2023, First Southern National Bank's most frequently originated type of loan was Conventional, with 431 originations. Their 2nd most popular type was HELOC, with 161 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 255 $54,825,000 $215,000 $3,131 7.35%
    Refi 166 $22,360,000 $134,699 $1,491 7.72%
    Other 90 $6,600,000 $73,333 $1,311 8.37%
    Home Improvement 81 $6,505,000 $80,309 $1,671 7.93%

    For 2023, First Southern National Bank's most frequently cited loan purpose was Home Purchase, with 255 originations. The 2nd most popular reason was Refi, with 166 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 153 $31,945,000 $208,791 $3,180 7.19%
    5 Year 117 $10,415,000 $89,017 $1,297 8.38%
    10 Year 84 $5,330,000 $63,452 $1,156 8.05%
    15 Year 77 $7,625,000 $99,026 $1,504 7.45%
    20 Year 71 $10,535,000 $148,380 $1,927 7.44%
    1 Year 70 $16,880,000 $241,143 $2,793 7.74%
    30 Year 11 $2,775,000 $252,273 $2,315 7.50%
    3 Year 6 $3,850,000 $641,667 $0 7.61%
    30+ year 3 $935,000 $311,667 $2,711 6.87%

    For 2023, First Southern National Bank's most frequently cited loan duration was Other, with 153 originations. The 2nd most popular length was 5 Year, with 117 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 123 $10,195,000 $82,886
    $1k-2k 75 $10,115,000 $134,867
    $2k-3k 30 $7,710,000 $257,000
    $3k-4k 21 $7,155,000 $340,714
    $5k+ 10 $7,330,000 $733,000
    $4k-5k 6 $3,190,000 $531,667

    First Southern National Bank's average total fees were $2,315, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 123 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 242 $40,480,000 $167,273
    Over 8% 206 $20,490,000 $99,466
    6-7% 139 $27,845,000 $200,324
    5-6% 5 $1,475,000 $295,000

    During 2023, First Southern National Bank's average interest rate for loans was 7.50%, while their most frequently originated rate bucket for loans was 7-8%, with 242 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 305 $14,265,000 $46,770 $1,259 7.92%
    $100k-200k 159 $22,615,000 $142,233 $1,901 7.55%
    $200k-400k 89 $24,085,000 $270,618 $3,532 7.32%
    $400k-600k 22 $10,530,000 $478,636 $5,081 7.17%
    $600k-1MM 10 $7,400,000 $740,000 $6,276 7.38%
    $1MM+ 7 $11,395,000 $1,627,857 $21,170 7.54%

    2023 saw First Southern National Bank place emphasis on $100,000 or less loans with 305 originations, totaling $14,265,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 130 $15,470,000 $119,000 $2,208 7.77%
    $50k or less 94 $5,620,000 $59,787 $1,451 7.71%
    $75k-100k 88 $10,620,000 $120,682 $2,209 7.66%
    $50k-75k 84 $7,870,000 $93,690 $1,937 7.82%
    $150k-250k 50 $8,640,000 $172,800 $2,919 7.64%
    $250k+ 35 $22,155,000 $633,000 $6,778 7.33%

    First Southern National Bank lent most frequently to those with incomes in the $100k-150k range, with 130 originations. The second most popular income band? $50k or less, with 94 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 144 $16,070,000 $111,597 $1,807 7.82%
    30-36% 87 $14,565,000 $167,414 $2,450 7.64%
    <20% 84 $10,290,000 $122,500 $2,328 7.81%
    50-60% 39 $6,555,000 $168,077 $2,669 7.56%
    37% 14 $1,350,000 $96,429 $2,430 7.81%
    >60% 13 $3,145,000 $241,923 $5,392 7.78%
    42% 12 $2,380,000 $198,333 $4,386 7.63%
    43% 12 $1,780,000 $148,333 $2,294 7.37%
    44% 12 $1,700,000 $141,667 $1,832 7.36%
    39% 11 $2,425,000 $220,455 $2,146 7.16%
    40% 11 $1,555,000 $141,364 $3,333 8.18%
    41% 11 $1,475,000 $134,091 $1,215 8.24%
    36% 11 $3,185,000 $289,545 $2,379 7.43%
    38% 8 $1,340,000 $167,500 $2,218 7.71%
    46% 7 $1,035,000 $147,857 $1,704 7.56%
    48% 7 $1,485,000 $212,143 $3,208 7.60%
    47% 4 $560,000 $140,000 $1,300 7.46%
    45% 4 $510,000 $127,500 $2,326 6.98%
    49% 2 $250,000 $125,000 $1,070 7.38%

    First Southern National Bank lent most frequently to those with DTI ratios of 20-30%, with 144 originations. The next most common DTI ratio? 30-36%, with 87 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 485 $68,645,000 $141,536 $2,327 7.72%
    Not applicable 92 $17,630,000 $191,630 $0 7.54%
    Black 10 $2,010,000 $201,000 $1,936 7.81%
    Asian 5 $2,005,000 $401,000 $4,680 7.09%

    Approval Rates

    Total approvals of all applications
    97.22%

    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
    93.58%

    First Southern National Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 592 $90,290,000 $152,517

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    592 $90,290,000 $152,517

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 153 $14,435,000 $94,346 $1,616 7.95%
    40-60% 128 $20,530,000 $160,391 $2,430 7.60%
    60-80% 149 $32,865,000 $220,570 $2,623 7.48%
    80-100% 92 $19,510,000 $212,065 $3,303 7.35%
    Over 100% 4 $360,000 $90,000 $1,108 8.06%
    Under 20% 66 $2,590,000 $39,242 $1,265 8.17%