Southwest Missouri Bank Mortgage Rates, Fees & Info

Carthage, MO

LEI: 549300DHRESF8KLNP162

Tax ID: 43-1161740

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Mortgage Data

Review & Overview

Southwest Missouri Bank is a smaller bank specializing in Home Purchase and Refi loans. Southwest Missouri 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.) They have a low ratio of USDA loans. Their top markets by origination volume include: Joplin, Fayetteville, Springfield, Breckenridge, and Pittsburg among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

Southwest Missouri Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Southwest Missouri 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.

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) 7.91% 11/17/24
30 Year Conventional Purchase 6.60% 11/17/24
30 Year Conventional Refi 6.73% 11/17/24
30 Year Cash-out Refi 6.60% 11/17/24
30 Year FHA Purchase 7.58% 11/17/24
30 Year VA Purchase 6.95% 11/17/24
30 Year USDA Purchase 7.16% 11/17/24
15 Year Conventional Purchase 6.16% 11/17/24
15 Year Conventional Refi 5.83% 11/17/24
15 Year Cash-out Refi 5.83% 11/17/24
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.

Southwest Missouri Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from Southwest Missouri 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

748

Origination Dollar Volume (All Markets)

$91,600,000

Awards

Southwest Missouri Bank 30 Year Conventional Loans gold Southwest Missouri Bank 30 Year Conventional Loans gold Southwest Missouri Bank 30 Year Conventional Loans gold
Show all (3) awards

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
JOPLIN, MO (FHA|USDA|VA) 669 $79,265,000 $118,483 $2,011 5.23%
Outside of Metro Areas 62 $7,770,000 $125,323 $1,967 5.09%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 5 $1,535,000 $307,000 $2,607 5.78%
SPRINGFIELD, MO (FHA|USDA|VA) 6 $980,000 $163,333 $2,363 4.71%
Breckenridge, CO (FHA|USDA|VA) 1 $905,000 $905,000 $6,072 2.95%
Pittsburg, KS (FHA|USDA|VA) 2 $430,000 $215,000 $2,114 3.98%
KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $355,000 $355,000 $6,148 5.38%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $335,000 $335,000 $4,249 3.40%
Miami, OK (FHA|USDA|VA) 1 $25,000 $25,000 $0 4.00%
Southwest Missouri Bank's top markets include Joplin, Fayetteville, Springfield, Breckenridge, and Pittsburg among others.

Their top states include:
  • Missouri (FHA|USDA|VA)
  • Kansas (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)
  • Similar Lenders

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

    Southwest Missouri Bank
    Similarity Rank: 81
    Springfield First Community Bank
    Similarity Rank: 144
    Pinnacle Bank
    Similarity Rank: 561
    Commerce Bank
    Similarity Rank: 870
    First Community Bank
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    FirstTrust Home Loans, Inc.
    Similarity Rank: 2520
    USAA Federal Savings Bank
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    Mortgage Research Center, LLC
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    Similarity Rank: 9009

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 505 $75,135,000 $148,782 $1,978 5.00%
    HELOC 232 $14,760,000 $63,621 n/a 5.66%
    VA 5 $965,000 $193,000 $4,729 5.18%
    FHA 3 $385,000 $128,333 $4,041 4.16%
    USDA 3 $355,000 $118,333 $3,426 5.46%

    For 2022, Southwest Missouri Bank's most frequently originated type of loan was Conventional, with 505 originations. Their 2nd most popular type was HELOC, with 232 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 302 $49,560,000 $164,106 $2,226 5.06%
    Refi 191 $26,575,000 $139,136 $1,895 4.81%
    Other 147 $9,435,000 $64,184 $1,676 5.86%
    Home Improvement 101 $5,055,000 $50,050 $1,513 5.51%
    Cash Out Refi 7 $975,000 $139,286 $2,247 4.28%

    For 2022, Southwest Missouri Bank's most frequently cited loan purpose was Home Purchase, with 302 originations. The 2nd most popular reason was Refi, with 191 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 269 $20,655,000 $76,784 $1,837 5.33%
    30 Year 242 $45,350,000 $187,397 $2,218 4.89%
    5 Year 62 $6,360,000 $102,581 $1,438 5.46%
    10 Year 57 $3,565,000 $62,544 $1,853 5.23%
    3 Year 42 $7,040,000 $167,619 $0 5.48%
    20 Year 28 $2,800,000 $100,000 $1,593 5.14%
    1 Year 26 $4,160,000 $160,000 $2,072 5.51%
    Other 22 $1,670,000 $75,909 $1,267 5.63%

    For 2022, Southwest Missouri Bank's most frequently cited loan duration was 15 Year, with 269 originations. The 2nd most popular length was 30 Year, with 242 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 365 $55,715,000 $152,644
    $1k-2k 11 $2,405,000 $218,636
    $2k-3k 5 $1,195,000 $239,000
    $3k-4k 2 $420,000 $210,000
    $4k-5k 1 $355,000 $355,000
    $5k+ 1 $235,000 $235,000

    Southwest Missouri Bank's average total fees were $2,218, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 365 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 225 $24,185,000 $107,489
    4-5% 169 $23,605,000 $139,675
    3-4% 140 $18,660,000 $133,286
    6-7% 106 $11,400,000 $107,547
    7-8% 62 $5,280,000 $85,161
    2.5-3% 40 $8,200,000 $205,000
    Over 8% 6 $270,000 $45,000

    During 2022, Southwest Missouri Bank's average interest rate for loans was 4.89%, while their most frequently originated rate bucket for loans was 5-6%, with 225 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 398 $21,800,000 $54,774 $1,634 5.41%
    $100k-200k 227 $32,475,000 $143,062 $2,065 5.09%
    $200k-400k 109 $29,335,000 $269,128 $2,532 4.86%
    $400k-600k 9 $4,225,000 $469,444 $2,967 3.88%
    $600k-1MM 5 $3,765,000 $753,000 $4,234 3.91%

    2022 saw Southwest Missouri Bank place emphasis on $100,000 or less loans with 398 originations, totaling $21,800,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 165 $17,665,000 $107,061 $2,169 5.23%
    $50k or less 158 $12,360,000 $78,228 $1,805 5.18%
    $100k-150k 128 $18,650,000 $145,703 $1,963 5.17%
    $75k-100k 118 $15,250,000 $129,237 $2,091 5.13%
    $150k-250k 63 $11,605,000 $184,206 $2,334 5.31%
    $250k+ 27 $5,115,000 $189,444 $2,766 4.96%

    Southwest Missouri Bank lent most frequently to those with incomes in the $50k-75k range, with 165 originations. The second most popular income band? $50k or less, with 158 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 180 $20,250,000 $112,500 $1,908 5.05%
    30-36% 124 $17,030,000 $137,339 $2,453 5.25%
    <20% 106 $10,610,000 $100,094 $1,800 5.02%
    36% 28 $4,010,000 $143,214 $2,000 5.43%
    41% 24 $3,120,000 $130,000 $2,465 5.49%
    42% 22 $2,470,000 $112,273 $2,279 5.30%
    38% 20 $1,650,000 $82,500 $1,921 5.10%
    40% 19 $2,775,000 $146,053 $1,970 4.82%
    37% 19 $2,515,000 $132,368 $2,163 5.30%
    39% 18 $1,450,000 $80,556 $1,665 5.66%
    44% 13 $1,615,000 $124,231 $2,097 5.07%
    43% 10 $1,270,000 $127,000 $2,156 5.23%
    47% 7 $1,515,000 $216,429 $2,453 5.68%
    >60% 6 $690,000 $115,000 $1,290 5.14%
    48% 6 $750,000 $125,000 $2,350 6.35%
    50-60% 6 $910,000 $151,667 $1,805 5.05%
    45% 5 $375,000 $75,000 $1,469 6.85%
    49% 4 $390,000 $97,500 $2,045 4.89%
    46% 4 $510,000 $127,500 $1,287 5.09%

    Southwest Missouri Bank lent most frequently to those with DTI ratios of 20-30%, with 180 originations. The next most common DTI ratio? 30-36%, with 124 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 661 $80,555,000 $121,868 $2,036 5.20%
    Not applicable 53 $6,555,000 $123,679 $2,088 5.31%
    Not provided 9 $1,585,000 $176,111 $2,518 5.09%
    American Indian 16 $1,550,000 $96,875 $1,743 5.08%
    Asian 5 $1,115,000 $223,000 $3,223 5.33%
    Native Hawaiian or Islander 2 $130,000 $65,000 $2,173 4.94%
    Other Pacific Islander 1 $85,000 $85,000 $0 5.25%
    Black 1 $25,000 $25,000 $0 8.25%

    Approval Rates

    Total approvals of all applications
    92.70%

    Southwest Missouri Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.76%

    Southwest Missouri Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 748 $91,600,000 $122,460

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    748 $91,600,000 $122,460

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 147 $11,755,000 $79,966 $1,747 5.46%
    40-60% 127 $14,265,000 $112,323 $1,869 4.96%
    60-80% 230 $38,180,000 $166,000 $2,085 5.00%
    80-100% 142 $23,760,000 $167,324 $2,235 5.16%
    Over 100% 2 $200,000 $100,000 $8,203 5.94%
    Under 20% 100 $3,440,000 $34,400 $921 5.68%