Southern Trust Mortgage Rates, Fees & Info

VIRGINIA BEACH, VA

LEI: 549300FOXIQQV5UZD367

Tax ID: 54-1872422

4.9 stars - out of 5 stars, based on 89 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Southern Trust Mortgage is a small 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 include Virginia Beach, Richmond, Baltimore, Washington, and Charlotte among others. Southern Trust Mortgage has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Southern Trust Mortgage is typically an average fee lendor.


Originations

8,007

Origination Dollar Volume (All Markets)

$2,341,515,000

Awards

SOUTHERN TRUST MORTGAGE  30 Year Conventional Loans silver SOUTHERN TRUST MORTGAGE  USDA Loans gold SOUTHERN TRUST MORTGAGE  USDA Loans silver
Show all (3) awards

Relative Rate

Southern Trust Mortgage 's average 30 year fixed rate mortgage of loans were 3.1%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.05%.

Relative Fees

Southern Trust Mortgage 's average total fees for a 30 year fixed rate mortgage are $4,951.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1,901 $554,795,000 $291,844 $6,590 3.06%
RICHMOND, VA (FHA|USDA|VA) 1,351 $354,965,000 $262,742 $4,630 3.15%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 993 $331,355,000 $333,691 $3,623 3.07%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 449 $189,545,000 $422,149 $4,452 2.98%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 625 $164,845,000 $263,752 $3,668 3.03%
FAYETTEVILLE, NC (FHA|USDA|VA) 494 $105,080,000 $212,713 $5,697 3.01%
RALEIGH-CARY, NC (FHA|USDA|VA) 281 $84,595,000 $301,050 $3,892 2.96%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 214 $69,560,000 $325,047 $3,115 3.04%
Outside of Metro Areas 259 $61,225,000 $236,390 $4,001 3.10%
Kill Devil Hills, NC (FHA|USDA|VA) 130 $54,090,000 $416,077 $4,387 3.23%
CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 114 $35,130,000 $308,158 $3,933 2.94%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 95 $29,295,000 $308,368 $4,992 3.16%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 65 $22,595,000 $347,615 $7,554 2.74%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 68 $20,170,000 $296,618 $4,863 3.09%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 68 $19,610,000 $288,382 $3,735 2.93%
JACKSONVILLE, FL (FHA|USDA|VA) 51 $17,835,000 $349,706 $5,581 3.20%
YORK-HANOVER, PA (FHA|USDA|VA) 45 $12,205,000 $271,222 $5,233 3.16%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 34 $11,920,000 $350,588 $5,897 3.18%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 42 $9,930,000 $236,429 $2,829 3.02%
Cambridge, MD (FHA|USDA|VA) 38 $9,680,000 $254,737 $5,336 3.22%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 36 $9,610,000 $266,944 $3,355 2.97%
SALISBURY, MD-DE (FHA|USDA|VA) 32 $7,470,000 $233,438 $2,912 3.10%
Albemarle, NC (FHA|USDA|VA) 37 $7,175,000 $193,919 $4,002 3.01%
Elizabeth City, NC (FHA|USDA|VA) 27 $7,105,000 $263,148 $5,392 3.13%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 16 $6,820,000 $426,250 $4,503 3.13%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 13 $6,635,000 $510,385 $4,421 3.17%
CUMBERLAND, MD-WV (FHA|USDA|VA) 48 $6,340,000 $132,083 $2,904 3.14%
WINSTON-SALEM, NC (FHA|USDA|VA) 27 $6,335,000 $234,630 $4,129 3.00%
WILMINGTON, NC (FHA|USDA|VA) 23 $6,305,000 $274,130 $4,500 3.05%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 13 $5,175,000 $398,077 $4,151 2.96%
Easton, MD (FHA|USDA|VA) 14 $5,090,000 $363,571 $2,365 3.22%
Sanford, NC (FHA|USDA|VA) 18 $4,710,000 $261,667 $4,436 2.74%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 22 $4,680,000 $212,727 $2,928 3.25%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 17 $4,305,000 $253,235 $5,436 3.38%
JACKSONVILLE, NC (FHA|USDA|VA) 15 $4,145,000 $276,333 $6,350 2.91%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 16 $3,880,000 $242,500 $3,008 3.11%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 10 $3,700,000 $370,000 $6,613 3.00%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 12 $3,660,000 $305,000 $3,587 2.93%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 11 $3,645,000 $331,364 $6,462 3.02%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 8 $3,510,000 $438,750 $5,699 3.17%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 5 $3,365,000 $673,000 $4,255 2.80%
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 11 $3,065,000 $278,636 $5,487 3.13%
COLUMBIA, SC (FHA|USDA|VA) 9 $2,985,000 $331,667 $4,694 2.94%
ASHEVILLE, NC (FHA|USDA|VA) 12 $2,870,000 $239,167 $4,484 2.97%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 6 $2,750,000 $458,333 $4,854 3.02%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 9 $2,485,000 $276,111 $4,182 2.92%
PORT ST. LUCIE, FL (FHA|USDA|VA) 4 $2,470,000 $617,500 $7,542 3.09%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 10 $2,290,000 $229,000 $5,954 3.30%
Georgetown, SC (FHA|USDA|VA) 8 $2,280,000 $285,000 $5,489 2.63%
BURLINGTON, NC (FHA|USDA|VA) 9 $2,115,000 $235,000 $3,025 2.79%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 7 $2,105,000 $300,714 $3,626 2.86%
LYNCHBURG, VA (FHA|USDA|VA) 7 $1,645,000 $235,000 $4,514 3.21%
ROANOKE, VA (FHA|USDA|VA) 4 $1,630,000 $407,500 $4,184 2.91%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 6 $1,620,000 $270,000 $7,696 2.73%
Morehead City, NC (FHA|USDA|VA) 6 $1,530,000 $255,000 $5,728 2.79%
COLUMBUS, GA-AL (FHA|USDA|VA) 9 $1,465,000 $162,778 $2,663 3.18%
ROCKY MOUNT, NC (FHA|USDA|VA) 6 $1,440,000 $240,000 $3,587 2.98%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 4 $1,340,000 $335,000 $9,122 3.31%
GETTYSBURG, PA (FHA|USDA|VA) 4 $1,310,000 $327,500 $6,754 3.06%
Lumberton, NC (FHA|USDA|VA) 7 $1,295,000 $185,000 $4,827 3.09%
Greenwood, SC (FHA|USDA|VA) 7 $1,275,000 $182,143 $2,039 2.82%
Boone, NC (FHA|USDA|VA) 3 $1,265,000 $421,667 $5,192 3.17%
Rockingham, NC (FHA|USDA|VA) 7 $1,215,000 $173,571 $5,718 3.23%
Forest City, NC (FHA|USDA|VA) 4 $1,190,000 $297,500 $4,889 3.09%
NEW BERN, NC (FHA|USDA|VA) 5 $1,185,000 $237,000 $4,871 2.73%
PUNTA GORDA, FL (FHA|USDA|VA) 3 $1,165,000 $388,333 $4,009 2.92%
DOVER, DE (FHA|USDA|VA) 3 $1,135,000 $378,333 $1,205 3.08%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 3 $1,105,000 $368,333 $16,375 2.88%
Laurinburg, NC (FHA|USDA|VA) 6 $1,040,000 $173,333 $6,928 3.19%
GREENVILLE, NC (FHA|USDA|VA) 5 $965,000 $193,000 $3,847 3.10%
SPARTANBURG, SC (FHA|USDA|VA) 6 $960,000 $160,000 $5,746 3.19%
GOLDSBORO, NC (FHA|USDA|VA) 5 $935,000 $187,000 $4,997 3.20%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 3 $915,000 $305,000 $3,408 3.04%
KNOXVILLE, TN (FHA|USDA|VA) 3 $905,000 $301,667 $3,545 3.00%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 3 $865,000 $288,333 $4,141 2.88%
OCALA, FL (FHA|USDA|VA) 4 $810,000 $202,500 $3,534 3.19%
OCEAN CITY, NJ (FHA|USDA|VA) 2 $770,000 $385,000 $5,219 2.88%
Roanoke Rapids, NC (FHA|USDA|VA) 5 $725,000 $145,000 $4,214 3.05%
Key West, FL (FHA|USDA|VA) 1 $625,000 $625,000 $9,772 2.75%
HARRISONBURG, VA (FHA|USDA|VA) 3 $615,000 $205,000 $1,747 2.83%
Henderson, NC (FHA|USDA|VA) 1 $545,000 $545,000 $12,945 2.63%
WINCHESTER, VA-WV (FHA|USDA|VA) 3 $545,000 $181,667 $912 3.29%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 3 $535,000 $178,333 $3,025 3.13%
COLUMBUS, OH (FHA|USDA|VA) 2 $520,000 $260,000 $3,241 3.19%
MORRISTOWN, TN (FHA|USDA|VA) 1 $455,000 $455,000 $3,016 2.50%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 2 $450,000 $225,000 $1,427 2.75%
SAVANNAH, GA (FHA|USDA|VA) 2 $430,000 $215,000 $6,935 3.19%
HUNTSVILLE, AL (FHA|USDA|VA) 1 $405,000 $405,000 $5,083 2.88%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $405,000 $405,000 $20,431 2.25%
READING, PA (FHA|USDA|VA) 1 $385,000 $385,000 $4,555 3.25%
Kinston, NC (FHA|USDA|VA) 2 $350,000 $175,000 $2,385 2.50%
Brevard, NC (FHA|USDA|VA) 1 $345,000 $345,000 $4,181 3.00%
PITTSBURGH, PA (FHA|USDA|VA) 3 $335,000 $111,667 $1,465 3.08%
BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 1 $335,000 $335,000 $7,213 3.13%
SUMTER, SC (FHA|USDA|VA) 2 $330,000 $165,000 $3,514 3.13%
WARNER ROBINS, GA (FHA|USDA|VA) 1 $315,000 $315,000 $6,004 2.75%
DAYTON-KETTERING, OH (FHA|USDA|VA) 2 $310,000 $155,000 $4,788 4.38%
PANAMA CITY, FL (FHA|USDA|VA) 1 $305,000 $305,000 $3,675 3.13%
LANCASTER, PA (FHA|USDA|VA) 1 $305,000 $305,000 $4,361 2.88%
CLEVELAND, TN (FHA|USDA|VA) 1 $285,000 $285,000 $4,480 2.75%
JACKSON, TN (FHA|USDA|VA) 2 $250,000 $125,000 $1,748 2.75%
FLORENCE, SC (FHA|USDA|VA) 1 $245,000 $245,000 $0 2.50%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $225,000 $225,000 $6,022 3.50%
Danville, VA (FHA|USDA|VA) 1 $225,000 $225,000 $3,890 3.50%
CANTON-MASSILLON, OH (FHA|USDA|VA) 1 $195,000 $195,000 $7,256 2.75%
TOLEDO, OH (FHA|USDA|VA) 1 $195,000 $195,000 $3,626 3.25%
Vidalia, GA (FHA|USDA|VA) 1 $195,000 $195,000 $0 4.00%
Americus, GA (FHA|USDA|VA) 1 $185,000 $185,000 $4,959 3.38%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $175,000 $175,000 $0 3.25%
Union City, TN (FHA|USDA|VA) 1 $175,000 $175,000 $3,027 2.75%
ALBANY, GA (FHA|USDA|VA) 1 $175,000 $175,000 $5,844 3.13%
Marion, NC (FHA|USDA|VA) 1 $155,000 $155,000 $5,222 3.50%
GAINESVILLE, FL (FHA|USDA|VA) 1 $155,000 $155,000 $2,519 3.25%
Mount Airy, NC (FHA|USDA|VA) 1 $145,000 $145,000 $0 2.88%
HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 1 $135,000 $135,000 $3,158 2.88%
Somerset, PA (FHA|USDA|VA) 1 $125,000 $125,000 $0 2.75%
MORGANTOWN, WV (FHA|USDA|VA) 1 $115,000 $115,000 $6,412 2.88%
Wilson, NC (FHA|USDA|VA) 1 $115,000 $115,000 $4,834 2.75%

Southern Trust Mortgage 's top markets include Virginia Beach, Richmond, Baltimore, Washington, and Charlotte among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 5,466 $1,600,260,000 $292,766 $3,632 3.13%
VA 1,302 $432,910,000 $332,496 $8,217 2.76%
FHA 1,036 $261,870,000 $252,770 $7,093 3.14%
USDA 203 $46,475,000 $228,941 $4,775 2.91%

For the 2021 period, Southern Trust Mortgage 's most frequently originated loan type of loans were Conventional, with 5,466 originations. Their 2nd most popular type is VA, with 1,302 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 5,554 $1,641,290,000 $295,515 $5,500 3.11%
Refi 1,593 $454,975,000 $285,609 $3,141 2.87%
Cash Out Refi 789 $227,495,000 $288,333 $3,913 3.14%
Other 71 $17,755,000 $250,070 $3,294 3.18%

For the 2021, Southern Trust Mortgage 's most frequently cited loan purpose of loans were Home Purchase, with 5,554 originations. The 2nd most popular reason of loans were Refi, with 1,593 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 7,293 $2,163,215,000 $296,615 $4,951 3.10%
15 Year 466 $111,540,000 $239,356 $2,858 2.55%
20 Year 168 $48,230,000 $287,083 $7,040 2.95%
Other 46 $12,730,000 $276,739 $3,830 3.02%
10 Year 34 $5,800,000 $170,588 $2,216 2.43%

For the 2021, Southern Trust Mortgage 's most frequently cited loan length of loans were 30 Year, with 7,293 originations. The 2nd most popular length of loans were 15 Year, with 466 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 3,707 $1,057,355,000 $285,232
$<1k 2,487 $728,815,000 $293,050
$2k-3k 811 $214,075,000 $263,964
$3k-4k 746 $227,710,000 $305,241
$5k+ 256 $113,560,000 $443,594

$4,951 of loans were Southern Trust Mortgage 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 3,707 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 3,824 $1,056,710,000 $276,336
2.5-3% 3,412 $1,063,130,000 $311,586
<2.5% 677 $198,075,000 $292,578
4-5% 94 $23,600,000 $251,064

During 2021, Southern Trust Mortgage 's average interest rate of loans were 3.10%, while their most frequently originated rate bucket of loans were 3-4%, with 3,824 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 4,366 $1,251,170,000 $286,571 $5,087 3.04%
$100k-200k 1,724 $273,800,000 $158,817 $3,791 3.11%
$400k-600k 1,226 $583,610,000 $476,028 $6,249 3.02%
$100,000 or less 428 $17,490,000 $40,864 $1,428 3.28%
$600k-1MM 227 $167,765,000 $739,053 $7,168 2.97%
$1MM+ 36 $47,680,000 $1,324,444 $6,237 3.02%

2021 saw Southern Trust Mortgage place emphasis on $200k-400k loans with 4,366 originations, totaling $1,251,170,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 2,007 $462,495,000 $230,441 $4,779 3.09%
$100k-150k 1,641 $540,755,000 $329,528 $5,604 3.07%
$75k-100k 1,500 $415,350,000 $276,900 $4,972 3.09%
$50k or less 1,310 $246,980,000 $188,534 $4,011 2.99%
$150k-250k 1,090 $440,330,000 $403,972 $4,909 3.06%
$250k+ 428 $224,260,000 $523,972 $4,582 3.11%

Southern Trust Mortgage lent most frequently to those with incomes in the $50k-75k range, with 2,007 originations. The second most popular income band? $100k-150k, with 1,641 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 1,577 $473,895,000 $300,504 $4,473 3.03%
30-36% 1,458 $416,800,000 $285,871 $4,338 3.09%
<20% 547 $153,565,000 $280,740 $3,748 2.96%
44% 388 $109,210,000 $281,469 $5,201 3.15%
42% 372 $112,510,000 $302,446 $5,223 3.12%
41% 343 $99,685,000 $290,627 $6,389 3.17%
38% 329 $96,405,000 $293,024 $4,764 3.11%
39% 319 $90,875,000 $284,875 $4,622 3.13%
40% 315 $90,595,000 $287,603 $4,693 3.16%
43% 313 $85,585,000 $273,435 $4,786 3.13%
37% 280 $80,270,000 $286,679 $4,714 3.18%
36% 275 $74,215,000 $269,873 $4,183 3.14%
49% 235 $67,655,000 $287,894 $5,586 3.06%
45% 219 $65,175,000 $297,603 $5,695 3.05%
47% 211 $64,065,000 $303,626 $5,843 3.03%
50-60% 207 $67,315,000 $325,193 $8,279 2.99%
46% 202 $62,790,000 $310,842 $5,898 3.06%
48% 199 $63,675,000 $319,975 $6,528 3.06%
>60% 3 $1,505,000 $501,667 $9,913 3.33%

Southern Trust Mortgage lent most frequently to those with DTI ratios of 20-30%, with 1,577 originations. The next most common DTI ratio? 30-36%, with 1,458 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 5,469 $1,633,005,000 $298,593 $4,650 3.06%
Not provided 1,144 $331,860,000 $290,087 $4,815 3.06%
Black 942 $244,520,000 $259,575 $5,386 3.13%
Asian 362 $103,690,000 $286,436 $6,519 3.03%
American Indian 45 $12,575,000 $279,444 $5,132 3.09%
Asian Indian 14 $7,120,000 $508,571 $4,316 3.15%
Native Hawaiian 11 $3,035,000 $275,909 $7,053 2.99%
Filipino 9 $2,665,000 $296,111 $6,770 3.00%
Other Asian 5 $1,375,000 $275,000 $7,195 3.20%
Other Pacific Islander 4 $1,000,000 $250,000 $6,210 2.97%
Korean 1 $425,000 $425,000 $4,378 3.25%
Vietnamese 1 $245,000 $245,000 $3,440 3.25%

Approval Rates

Total approvals of all applications
97.18%

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
78.92%

Southern Trust Mortgage has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 8,007 $2,341,515,000 $292,433

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
8,007 $2,341,515,000 $292,433

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 157 $30,795,000 $196,146 $2,608 2.86%
40-60% 693 $181,665,000 $262,143 $3,185 2.90%
60-80% 2,127 $663,295,000 $311,845 $3,680 3.11%
80-100% 4,366 $1,319,530,000 $302,229 $5,351 3.08%
Over 100% 412 $142,040,000 $344,757 $12,107 2.86%
Under 20% 252 $4,190,000 $16,627 $305 3.29%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
SOUTHERN TRUST MORTGAGE LLC VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%