Southern Trust Mortgage Rates, Fees & Info

VIRGINIA BEACH, VA

LEI: 549300FOXIQQV5UZD367

Tax ID: 54-1872422

4.4 stars - Updated: 6/9/24 - out of 5 stars, based on 45 reviews

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

Jump to:

Mortgage Data

Review & Overview

Southern Trust Mortgage is a smaller mortgage company specializing in Home Purchase loans. Southern Trust Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Virginia Beach, Richmond, Fayetteville, Kill Devil Hills, and Baltimore among others. We have data for 66 markets. (Some data included below & more in-depth data is available with an active subscription.)

Southern Trust Mortgage 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. Southern Trust Mortgage is typically a high 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 6.75% 6/9/24
30 Year Conventional Refi 6.46% 6/9/24
30 Year Cash-out Refi 6.69% 6/9/24
30 Year FHA Purchase 7.43% 6/9/24
30 Year FHA Refi 7.04% 6/9/24
30 Year VA Purchase 6.35% 6/9/24
30 Year VA Refi 6.05% 6/9/24
30 Year USDA Purchase 6.84% 6/9/24
15 Year Conventional Purchase 6.27% 6/9/24
15 Year Conventional Refi 5.86% 6/9/24
15 Year Cash-out Refi 5.86% 6/9/24
15 Year FHA Purchase 7.16% 6/9/24
15 Year VA Purchase 6.13% 6/9/24
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.

Southern Trust Mortgage Mortgage Calculator






Your Estimates

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

This is not an official calculator from Southern Trust Mortgage. 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

2,021

Origination Dollar Volume (All Markets)

$628,855,000

Awards

SOUTHERN TRUST MORTGAGE 30 Year Conventional Loans silver
Show all (1) awards

Relative Rate

Southern Trust Mortgage's average 30 year fixed mortgage rate was 6.68%.

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

This yields a difference of 0.2%.

Relative Fees (Closing Costs)

Southern Trust Mortgage's average total fees/closing costs for a 30 year fixed rate mortgage were $9,135.

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
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 884 $266,850,000 $301,867 $9,526 6.69%
RICHMOND, VA (FHA|USDA|VA) 477 $154,045,000 $322,945 $8,512 6.74%
FAYETTEVILLE, NC (FHA|USDA|VA) 144 $36,740,000 $255,139 $8,956 6.59%
Kill Devil Hills, NC (FHA|USDA|VA) 64 $27,880,000 $435,625 $7,950 6.89%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 61 $23,175,000 $379,918 $8,639 6.65%
RALEIGH-CARY, NC (FHA|USDA|VA) 48 $19,060,000 $397,083 $9,875 6.65%
Outside of Metro Areas 70 $18,040,000 $257,714 $8,162 6.97%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 36 $14,880,000 $413,333 $12,942 6.42%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 45 $10,785,000 $239,667 $8,225 6.82%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 19 $5,665,000 $298,158 $8,985 5.89%
Elizabeth City, NC (FHA|USDA|VA) 18 $4,540,000 $252,222 $9,662 6.58%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 6 $3,480,000 $580,000 $7,931 7.31%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 7 $3,445,000 $492,143 $12,451 6.57%
WILMINGTON, NC (FHA|USDA|VA) 4 $2,590,000 $647,500 $11,148 7.03%
CUMBERLAND, MD-WV (FHA|USDA|VA) 20 $2,360,000 $118,000 $5,340 6.52%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 7 $2,355,000 $336,429 $10,274 6.71%
CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 7 $2,185,000 $312,143 $10,943 6.11%
Lumberton, NC (FHA|USDA|VA) 8 $2,090,000 $261,250 $8,405 6.77%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 3 $1,715,000 $571,667 $9,780 6.54%
Georgetown, SC (FHA|USDA|VA) 4 $1,500,000 $375,000 $7,081 6.88%
JACKSONVILLE, FL (FHA|USDA|VA) 7 $1,455,000 $207,857 $7,921 4.64%
Laurinburg, NC (FHA|USDA|VA) 4 $1,420,000 $355,000 $14,216 7.06%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 7 $1,375,000 $196,429 $6,157 3.57%
OCALA, FL (FHA|USDA|VA) 4 $1,340,000 $335,000 $11,764 6.53%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 4 $1,260,000 $315,000 $5,117 7.41%
LYNCHBURG, VA (FHA|USDA|VA) 3 $1,255,000 $418,333 $4,619 6.67%
HARRISONBURG, VA (FHA|USDA|VA) 2 $920,000 $460,000 $10,030 7.00%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 2 $910,000 $455,000 $7,551 5.94%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 3 $775,000 $258,333 $6,692 6.63%
ROANOKE, VA (FHA|USDA|VA) 3 $775,000 $258,333 $7,075 7.25%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 2 $770,000 $385,000 $11,008 6.13%
NEW BERN, NC (FHA|USDA|VA) 3 $755,000 $251,667 $8,985 6.67%
JACKSONVILLE, NC (FHA|USDA|VA) 2 $740,000 $370,000 $15,121 6.88%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $725,000 $725,000 $7,533 6.88%
SALISBURY, MD-DE (FHA|USDA|VA) 2 $600,000 $300,000 $6,571 7.06%
GREENVILLE, NC (FHA|USDA|VA) 3 $585,000 $195,000 $6,821 6.71%
ASHEVILLE, NC (FHA|USDA|VA) 1 $565,000 $565,000 $4,511 7.63%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 2 $560,000 $280,000 $7,736 7.69%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $540,000 $270,000 $6,972 6.13%
Warren, PA (FHA|USDA|VA) 1 $535,000 $535,000 $6,630 6.63%
Easton, MD (FHA|USDA|VA) 1 $515,000 $515,000 $28,381 6.13%
STAUNTON, VA (FHA|USDA|VA) 3 $475,000 $158,333 $5,130 6.13%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $445,000 $445,000 $8,653 6.50%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $435,000 $435,000 $4,965 7.63%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 2 $420,000 $210,000 $8,289 6.38%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $395,000 $395,000 $18,258 6.63%
BURLINGTON, NC (FHA|USDA|VA) 2 $380,000 $190,000 $3,360 6.31%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 2 $360,000 $180,000 $8,679 7.13%
Sanford, NC (FHA|USDA|VA) 1 $345,000 $345,000 $8,213 5.63%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $345,000 $345,000 $5,404 8.00%
WINCHESTER, VA-WV (FHA|USDA|VA) 1 $275,000 $275,000 $7,694 6.63%
COLUMBIA, SC (FHA|USDA|VA) 1 $275,000 $275,000 $10,818 7.13%
WINSTON-SALEM, NC (FHA|USDA|VA) 1 $265,000 $265,000 $9,103 7.25%
PITTSBURGH, PA (FHA|USDA|VA) 1 $265,000 $265,000 $8,256 5.50%
Statesboro, GA (FHA|USDA|VA) 1 $265,000 $265,000 $10,556 6.88%
Cambridge, MD (FHA|USDA|VA) 1 $255,000 $255,000 $13,833 7.88%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $245,000 $245,000 $6,136 7.38%
Morehead City, NC (FHA|USDA|VA) 1 $245,000 $245,000 $9,239 7.88%
READING, PA (FHA|USDA|VA) 1 $245,000 $245,000 $8,101 7.13%
SPARTANBURG, SC (FHA|USDA|VA) 1 $235,000 $235,000 $6,235 7.13%
Paris, TN (FHA|USDA|VA) 1 $225,000 $225,000 $4,723 7.13%
GETTYSBURG, PA (FHA|USDA|VA) 1 $225,000 $225,000 $9,175 7.13%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $185,000 $185,000 $5,308 6.00%
Clarksburg, WV (FHA|USDA|VA) 1 $135,000 $135,000 $5,303 7.00%
Wilson, NC (FHA|USDA|VA) 1 $95,000 $95,000 $5,565 6.63%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $65,000 $65,000 $3,909 7.63%
Southern Trust Mortgage's top markets include Virginia Beach, Richmond, Fayetteville, Kill Devil Hills, and Baltimore among others.

Their top states include:
  • Virginia (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Similar Lenders

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

    Republic Bank
    Similarity Rank: 21
    ACNB Bank
    Similarity Rank: 64
    ABNB Federal Credit Union
    Similarity Rank: 65
    JOHNSON MORTGAGE COMPANY, L.L.C.
    Similarity Rank: 108
    SCIENT Federal Credit Union
    Similarity Rank: 110
    County Savings Bank
    Similarity Rank: 135
    Columbia Bank
    Similarity Rank: 156
    DRAGAS MORTGAGE COMPANY
    Similarity Rank: 290

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,135 $345,295,000 $304,225 $6,754 6.82%
    VA 445 $160,545,000 $360,775 $12,380 6.45%
    FHA 434 $121,850,000 $280,760 $11,763 6.58%
    USDA 7 $1,165,000 $166,429 $5,834 6.66%

    For 2023, Southern Trust Mortgage's most frequently originated type of loan was Conventional, with 1,135 originations. Their 2nd most popular type was VA, with 445 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,941 $608,295,000 $313,393 $9,153 6.69%
    Cash Out Refi 34 $8,640,000 $254,118 $7,384 6.87%
    Refi 27 $8,095,000 $299,815 $6,403 6.37%
    Other 19 $3,825,000 $201,316 $6,839 6.95%

    For 2023, Southern Trust Mortgage's most frequently cited loan purpose was Home Purchase, with 1,941 originations. The 2nd most popular reason was Cash Out Refi, with 34 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,984 $621,740,000 $313,377 $9,135 6.68%
    15 Year 21 $6,005,000 $285,952 $8,066 6.25%
    10 Year 11 $215,000 $19,545 $462 9.27%
    20 Year 5 $895,000 $179,000 $4,337 6.85%

    For 2023, Southern Trust Mortgage's most frequently cited loan duration was 30 Year, with 1,984 originations. The 2nd most popular length was 15 Year, with 21 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 662 $258,490,000 $390,468
    $1k-2k 393 $124,675,000 $317,239
    $3k-4k 281 $80,495,000 $286,459
    $4k-5k 270 $84,930,000 $314,556
    $2k-3k 232 $57,950,000 $249,784
    $<1k 183 $22,315,000 $121,940

    Southern Trust Mortgage's average total fees were $9,135, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 662 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 1,125 $343,365,000 $305,213
    7-8% 576 $178,870,000 $310,538
    5-6% 272 $92,030,000 $338,346
    Over 8% 38 $13,030,000 $342,895
    <2.5% 6 $90,000 $15,000
    4-5% 4 $1,470,000 $367,500

    During 2023, Southern Trust Mortgage's average interest rate for loans was 6.68%, while their most frequently originated rate bucket for loans was 6-7%, with 1,125 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,080 $319,830,000 $296,139 $9,518 6.67%
    $400k-600k 368 $174,860,000 $475,163 $12,082 6.63%
    $100k-200k 308 $49,800,000 $161,688 $6,485 6.71%
    $100,000 or less 155 $3,675,000 $23,710 $1,166 6.83%
    $600k-1MM 100 $68,870,000 $688,700 $12,907 6.74%
    $1MM+ 10 $11,820,000 $1,182,000 $12,592 7.11%

    2023 saw Southern Trust Mortgage place emphasis on $200k-400k loans with 1,080 originations, totaling $319,830,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 514 $177,340,000 $345,019 $10,252 6.63%
    $75k-100k 452 $115,440,000 $255,398 $8,490 6.66%
    $50k-75k 431 $89,895,000 $208,573 $7,813 6.63%
    $150k-250k 358 $153,690,000 $429,302 $10,547 6.80%
    $250k+ 134 $72,720,000 $542,687 $9,698 6.94%
    $50k or less 129 $18,165,000 $140,814 $5,888 6.59%

    Southern Trust Mortgage lent most frequently to those with incomes in the $100k-150k range, with 514 originations. The second most popular income band? $75k-100k, with 452 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 266 $87,270,000 $328,083 $8,365 6.66%
    50-60% 237 $80,445,000 $339,430 $12,564 6.56%
    20-30% 226 $70,380,000 $311,416 $7,893 6.74%
    49% 161 $48,285,000 $299,907 $8,142 6.89%
    48% 115 $32,385,000 $281,609 $9,361 6.69%
    44% 109 $31,525,000 $289,220 $9,239 6.64%
    47% 94 $29,860,000 $317,660 $9,680 6.61%
    45% 89 $27,935,000 $313,876 $9,378 6.72%
    42% 88 $26,720,000 $303,636 $8,503 6.64%
    37% 79 $21,965,000 $278,038 $8,145 6.56%
    40% 79 $24,085,000 $304,873 $8,474 6.64%
    39% 78 $21,590,000 $276,795 $8,239 6.76%
    38% 76 $26,850,000 $353,289 $9,791 6.67%
    41% 70 $17,610,000 $251,571 $7,619 6.87%
    36% 69 $23,345,000 $338,333 $8,785 6.76%
    46% 69 $21,395,000 $310,072 $9,306 6.82%
    43% 65 $20,415,000 $314,077 $9,712 6.54%
    <20% 49 $16,195,000 $330,510 $6,452 6.66%
    >60% 2 $600,000 $300,000 $9,157 6.38%

    Southern Trust Mortgage lent most frequently to those with DTI ratios of 30-36%, with 266 originations. The next most common DTI ratio? 50-60%, with 237 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,205 $394,415,000 $327,315 $8,775 6.70%
    Not provided 366 $104,720,000 $286,120 $9,192 6.69%
    Black 353 $98,305,000 $278,484 $9,801 6.66%
    Asian 82 $25,540,000 $311,463 $9,343 6.64%
    American Indian 8 $2,550,000 $318,750 $9,180 6.69%
    Vietnamese 3 $1,265,000 $421,667 $9,127 6.67%
    Asian Indian 2 $1,070,000 $535,000 $13,100 7.06%
    Chinese 1 $615,000 $615,000 $13,863 6.38%
    Other Pacific Islander 1 $375,000 $375,000 $15,573 6.63%

    Approval Rates

    Total approvals of all applications
    96.30%

    Southern Trust Mortgage 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
    74.22%

    Southern Trust Mortgage has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,021 $628,855,000 $311,160

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,021 $628,855,000 $311,160

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 42 $7,230,000 $172,143 $4,715 6.76%
    40-60% 111 $30,865,000 $278,063 $6,647 6.67%
    60-80% 367 $126,405,000 $344,428 $8,359 6.83%
    80-100% 1,175 $392,305,000 $333,877 $9,481 6.67%
    Over 100% 192 $69,790,000 $363,490 $16,124 6.45%
    Under 20% 134 $2,260,000 $16,866 $609 6.79%