Synovus Mortgage Corp Rates, Fees & Info

Birmingham, AL

LEI: 549300HWKC3HG76QHU70

Tax ID: 63-1113916

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

Jump to:

Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Synovus Mortgage Corp is a smaller mortgage company specializing in Home Purchase loans. Synovus Mortgage Corp 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: Atlanta, Birmingham, Columbus, Nashville, and Pensacola among others. We have data for 93 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Synovus Mortgage Corp has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Synovus Mortgage Corp is typically an average 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.


    Originations

    2,321

    Origination Dollar Volume (All Markets)

    $458,545,000
    Show all (13) 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
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 239 $51,435,000 $215,209 $6,015 4.67%
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 210 $44,810,000 $213,381 $5,607 4.68%
    COLUMBUS, GA-AL (FHA|USDA|VA) 184 $31,660,000 $172,065 $5,406 4.62%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 122 $31,100,000 $254,918 $6,810 4.77%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 148 $25,850,000 $174,662 $5,482 4.84%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 135 $25,565,000 $189,370 $6,408 4.90%
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 79 $15,315,000 $193,861 $6,167 4.43%
    WARNER ROBINS, GA (FHA|USDA|VA) 81 $13,495,000 $166,605 $5,556 4.56%
    Outside of Metro Areas 59 $13,435,000 $227,712 $6,132 4.61%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 64 $11,670,000 $182,344 $5,363 4.62%
    COLUMBIA, SC (FHA|USDA|VA) 52 $11,500,000 $221,154 $5,902 4.72%
    SAVANNAH, GA (FHA|USDA|VA) 48 $11,170,000 $232,708 $6,192 4.69%
    Jasper, AL (FHA|USDA|VA) 59 $9,645,000 $163,475 $4,962 4.50%
    JACKSONVILLE, FL (FHA|USDA|VA) 39 $8,825,000 $226,282 $6,583 4.61%
    LaGrange, GA-AL (FHA|USDA|VA) 37 $7,425,000 $200,676 $5,646 4.50%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 28 $6,950,000 $248,214 $7,272 4.92%
    Thomasville, GA (FHA|USDA|VA) 46 $6,880,000 $149,565 $5,287 4.46%
    Statesboro, GA (FHA|USDA|VA) 40 $6,800,000 $170,000 $5,058 4.52%
    MONTGOMERY, AL (FHA|USDA|VA) 31 $6,515,000 $210,161 $5,481 4.73%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 29 $6,215,000 $214,310 $6,079 4.77%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 28 $5,800,000 $207,143 $5,807 4.82%
    ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 28 $5,450,000 $194,643 $5,127 4.62%
    HUNTSVILLE, AL (FHA|USDA|VA) 29 $5,395,000 $186,034 $5,334 4.72%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 25 $5,185,000 $207,400 $5,893 4.96%
    TALLAHASSEE, FL (FHA|USDA|VA) 28 $5,050,000 $180,357 $6,910 4.74%
    VALDOSTA, GA (FHA|USDA|VA) 24 $4,710,000 $196,250 $5,886 4.49%
    Calhoun, GA (FHA|USDA|VA) 29 $4,305,000 $148,448 $4,875 4.65%
    St. Marys, GA (FHA|USDA|VA) 22 $4,190,000 $190,455 $5,264 4.59%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 20 $4,080,000 $204,000 $5,346 4.64%
    Tifton, GA (FHA|USDA|VA) 26 $3,980,000 $153,077 $5,295 4.35%
    BRUNSWICK, GA (FHA|USDA|VA) 17 $3,955,000 $232,647 $6,086 4.81%
    AUBURN-OPELIKA, AL (FHA|USDA|VA) 23 $3,915,000 $170,217 $5,267 4.55%
    ROME, GA (FHA|USDA|VA) 24 $3,730,000 $155,417 $5,470 4.64%
    Cullman, AL (FHA|USDA|VA) 16 $3,730,000 $233,125 $4,894 4.38%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 17 $3,165,000 $186,176 $6,057 4.71%
    MOBILE, AL (FHA|USDA|VA) 21 $3,065,000 $145,952 $5,311 4.51%
    TUSCALOOSA, AL (FHA|USDA|VA) 13 $2,915,000 $224,231 $5,385 4.66%
    SUMTER, SC (FHA|USDA|VA) 16 $2,650,000 $165,625 $4,705 4.66%
    MACON-BIBB COUNTY, GA (FHA|USDA|VA) 15 $2,235,000 $149,000 $5,035 4.80%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 5 $2,085,000 $417,000 $8,367 4.53%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 7 $1,955,000 $279,286 $7,464 4.80%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 9 $1,765,000 $196,111 $5,164 4.67%
    ALBANY, GA (FHA|USDA|VA) 9 $1,645,000 $182,778 $5,513 4.72%
    Ozark, AL (FHA|USDA|VA) 12 $1,590,000 $132,500 $4,259 4.57%
    SPARTANBURG, SC (FHA|USDA|VA) 8 $1,540,000 $192,500 $6,518 4.89%
    DALTON, GA (FHA|USDA|VA) 12 $1,370,000 $114,167 $4,183 4.80%
    Alexander City, AL (FHA|USDA|VA) 4 $1,360,000 $340,000 $7,457 4.44%
    DOTHAN, AL (FHA|USDA|VA) 7 $1,345,000 $192,143 $5,007 4.50%
    Toccoa, GA (FHA|USDA|VA) 5 $1,285,000 $257,000 $7,645 4.70%
    KNOXVILLE, TN (FHA|USDA|VA) 3 $1,215,000 $405,000 $6,975 4.92%
    Cullowhee, NC (FHA|USDA|VA) 2 $1,110,000 $555,000 $10,488 4.19%
    GAINESVILLE, GA (FHA|USDA|VA) 5 $1,105,000 $221,000 $6,149 4.60%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 6 $920,000 $153,333 $6,617 4.83%
    ASHEVILLE, NC (FHA|USDA|VA) 2 $890,000 $445,000 $8,748 5.25%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 4 $850,000 $212,500 $7,121 4.94%
    Georgetown, SC (FHA|USDA|VA) 3 $815,000 $271,667 $6,381 4.79%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 3 $805,000 $268,333 $7,236 4.88%
    PANAMA CITY, FL (FHA|USDA|VA) 5 $745,000 $149,000 $5,796 4.40%
    Enterprise, AL (FHA|USDA|VA) 5 $725,000 $145,000 $4,082 4.73%
    FLORENCE, SC (FHA|USDA|VA) 5 $715,000 $143,000 $4,603 4.78%
    CLARKSVILLE, TN-KY (FHA|USDA|VA) 4 $560,000 $140,000 $5,837 5.00%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $510,000 $255,000 $6,363 4.69%
    Seneca, SC (FHA|USDA|VA) 1 $495,000 $495,000 $8,075 4.88%
    Milledgeville, GA (FHA|USDA|VA) 2 $480,000 $240,000 $4,729 4.25%
    PUNTA GORDA, FL (FHA|USDA|VA) 3 $465,000 $155,000 $5,397 4.46%
    Cedartown, GA (FHA|USDA|VA) 3 $445,000 $148,333 $4,729 5.17%
    DECATUR, AL (FHA|USDA|VA) 2 $430,000 $215,000 $5,700 4.38%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $345,000 $345,000 $7,220 3.88%
    Scottsboro, AL (FHA|USDA|VA) 2 $330,000 $165,000 $5,567 4.81%
    Talladega-Sylacauga, AL (FHA|USDA|VA) 2 $330,000 $165,000 $4,885 5.13%
    Tullahoma-Manchester, TN (FHA|USDA|VA) 1 $325,000 $325,000 $6,769 4.50%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $315,000 $315,000 $6,129 4.25%
    Cookeville, TN (FHA|USDA|VA) 1 $305,000 $305,000 $6,341 4.88%
    Athens, TN (FHA|USDA|VA) 2 $290,000 $145,000 $4,088 4.69%
    Jesup, GA (FHA|USDA|VA) 2 $290,000 $145,000 $4,843 4.63%
    CLEVELAND, TN (FHA|USDA|VA) 2 $270,000 $135,000 $6,032 4.81%
    GAINESVILLE, FL (FHA|USDA|VA) 1 $245,000 $245,000 $6,330 4.88%
    Albertville, AL (FHA|USDA|VA) 2 $240,000 $120,000 $3,014 4.44%
    Orangeburg, SC (FHA|USDA|VA) 1 $235,000 $235,000 $5,224 4.88%
    Shelbyville, TN (FHA|USDA|VA) 1 $225,000 $225,000 $4,070 4.75%
    RALEIGH-CARY, NC (FHA|USDA|VA) 1 $225,000 $225,000 $3,817 5.25%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $205,000 $205,000 $5,719 4.75%
    Sevierville, TN (FHA|USDA|VA) 1 $195,000 $195,000 $5,198 5.13%
    OCALA, FL (FHA|USDA|VA) 1 $155,000 $155,000 $7,580 4.50%
    Cordele, GA (FHA|USDA|VA) 1 $155,000 $155,000 $7,005 4.38%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $155,000 $155,000 $4,447 5.25%
    Eufaula, AL-GA (FHA|USDA|VA) 1 $145,000 $145,000 $7,314 4.25%
    Jefferson, GA (FHA|USDA|VA) 1 $135,000 $135,000 $3,997 4.00%
    Troy, AL (FHA|USDA|VA) 1 $115,000 $115,000 $3,837 4.88%
    Americus, GA (FHA|USDA|VA) 1 $95,000 $95,000 $3,369 4.25%
    Waycross, GA (FHA|USDA|VA) 1 $95,000 $95,000 $4,288 4.75%
    Gaffney, SC (FHA|USDA|VA) 1 $85,000 $85,000 $4,693 5.25%
    GADSDEN, AL (FHA|USDA|VA) 1 $55,000 $55,000 $2,852 4.75%
    Synovus Mortgage Corp's top markets include Atlanta, Birmingham, Columbus, Nashville, and Pensacola among others.

    Their top states include:
  • Georgia (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)

    • Similar Lenders

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

    Eglin Federal Credit Union
    Similarity Rank: 8
    McCoy Federal Credit Union
    Similarity Rank: 60
    ROBINS FINANCIAL
    Similarity Rank: 138
    HARVESTERS FEDERAL CREDIT UNION
    Similarity Rank: 159
    SOUTHWEST GEORGIA BANK
    Similarity Rank: 168
    MORTGAGE ONE OF THE SOUTH, INC.
    Similarity Rank: 208
    CAMPUS USA
    Similarity Rank: 279
    Alabama One Credit Union
    Similarity Rank: 288
    Gulf Winds Credit Union
    Similarity Rank: 343
    Pen Air Federal Credit Union
    Similarity Rank: 376

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,589 $330,555,000 $208,027 $5,203 4.73%
    FHA 482 $79,640,000 $165,228 $7,462 4.59%
    VA 164 $36,260,000 $221,098 $6,414 4.48%
    USDA 86 $12,090,000 $140,581 $5,645 4.47%

    For 2018, Synovus Mortgage Corp's most frequently originated type of loan was Conventional, with 1,589 originations. Their 2nd most popular type was FHA, with 482 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,807 $356,015,000 $197,020 $5,911 4.67%
    Cash Out Refi 278 $55,460,000 $199,496 $5,425 4.70%
    Refi 168 $37,310,000 $222,083 $5,460 4.49%
    Other 68 $9,760,000 $143,529 $4,351 4.99%

    For 2018, Synovus Mortgage Corp's most frequently cited loan purpose was Home Purchase, with 1,807 originations. The 2nd most popular reason was Cash Out Refi, with 278 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,061 $415,125,000 $201,419 $5,926 4.73%
    15 Year 196 $33,180,000 $169,286 $4,650 4.18%
    20 Year 35 $6,305,000 $180,143 $4,659 4.65%
    10 Year 26 $3,110,000 $119,615 $3,912 4.02%
    Other 3 $825,000 $275,000 $5,510 4.79%

    For 2018, Synovus Mortgage Corp's most frequently cited loan duration was 30 Year, with 2,061 originations. The 2nd most popular length was 15 Year, with 196 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 911 $145,385,000 $159,588
    $3k-4k 530 $129,130,000 $243,642
    $1k-2k 478 $46,380,000 $97,029
    $4k-5k 236 $77,660,000 $329,068
    $5k+ 140 $57,930,000 $413,786
    $<1k 18 $1,230,000 $68,333

    Synovus Mortgage Corp's average total fees were $5,926, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 911 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 1,618 $321,980,000 $198,999
    5-6% 447 $83,985,000 $187,886
    3-4% 251 $51,875,000 $206,673
    6-7% 4 $650,000 $162,500
    2.5-3% 1 $55,000 $55,000

    During 2018, Synovus Mortgage Corp's average interest rate for loans was 4.73%, while their most frequently originated rate bucket for loans was 4-5%, with 1,618 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 1,014 $149,390,000 $147,327 $5,178 4.65%
    $200k-400k 845 $229,535,000 $271,639 $6,798 4.66%
    $100,000 or less 346 $24,960,000 $72,139 $3,810 4.75%
    $400k-600k 110 $49,010,000 $445,545 $9,069 4.66%
    $600k-1MM 5 $4,055,000 $811,000 $12,668 4.50%
    $1MM+ 1 $1,595,000 $1,595,000 $22,709 4.50%

    2018 saw Synovus Mortgage Corp place emphasis on $100k-200k loans with 1,014 originations, totaling $149,390,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 622 $105,740,000 $170,000 $5,657 4.68%
    $50k or less 558 $67,240,000 $120,502 $4,846 4.69%
    $75k-100k 400 $84,970,000 $212,425 $6,070 4.67%
    $100k-150k 396 $98,980,000 $249,949 $6,215 4.66%
    $150k-250k 221 $63,415,000 $286,946 $6,737 4.68%
    $250k+ 122 $37,760,000 $309,508 $6,564 4.59%

    Synovus Mortgage Corp lent most frequently to those with incomes in the $50k-75k range, with 622 originations. The second most popular income band? $50k or less, with 558 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 446 $82,920,000 $185,919 $5,192 4.60%
    30-36% 411 $79,385,000 $193,151 $5,757 4.68%
    <20% 167 $32,745,000 $196,078 $5,078 4.52%
    49% 114 $20,560,000 $180,351 $5,741 4.70%
    42% 106 $21,410,000 $201,981 $5,960 4.81%
    45% 97 $20,395,000 $210,258 $5,934 4.73%
    44% 97 $18,905,000 $194,897 $5,808 4.82%
    40% 91 $20,005,000 $219,835 $6,336 4.81%
    48% 85 $16,635,000 $195,706 $5,747 4.69%
    50-60% 83 $16,835,000 $202,831 $7,799 4.52%
    41% 83 $16,575,000 $199,699 $5,880 4.70%
    43% 82 $16,800,000 $204,878 $5,958 4.66%
    39% 82 $17,390,000 $212,073 $5,898 4.64%
    38% 79 $16,065,000 $203,354 $5,809 4.74%
    46% 79 $16,435,000 $208,038 $6,005 4.69%
    47% 76 $16,250,000 $213,816 $6,790 4.69%
    36% 71 $13,915,000 $195,986 $5,681 4.65%
    37% 69 $14,715,000 $213,261 $5,930 4.80%
    >60% 3 $605,000 $201,667 $5,221 4.96%

    Synovus Mortgage Corp lent most frequently to those with DTI ratios of 20-30%, with 446 originations. The next most common DTI ratio? 30-36%, with 411 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,846 $368,460,000 $199,599 $5,635 4.67%
    Black 315 $56,115,000 $178,143 $6,337 4.67%
    Not provided 106 $22,990,000 $216,887 $6,678 4.69%
    Asian 43 $9,055,000 $210,581 $5,664 4.65%
    Native Hawaiian or Islander 2 $520,000 $260,000 $5,781 4.63%
    American Indian 3 $445,000 $148,333 $5,148 4.96%
    Other Pacific Islander 3 $375,000 $125,000 $4,493 4.92%
    Other Asian 1 $355,000 $355,000 $7,023 5.38%
    Filipino 1 $135,000 $135,000 $5,240 4.75%
    Asian Indian 1 $95,000 $95,000 $3,868 4.63%

    Approval Rates

    Total approvals of all applications
    84.39%

    Synovus Mortgage Corp has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    62.04%

    Synovus Mortgage Corp has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,321 $458,545,000 $197,564

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 2,321 $458,545,000 $197,564

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 71 $8,785,000 $123,732 $3,924 4.39%
    40-60% 183 $31,055,000 $169,699 $4,643 4.52%
    60-80% 646 $132,150,000 $204,567 $5,233 4.77%
    80-100% 1,371 $277,025,000 $202,061 $6,192 4.66%
    Over 100% 45 $9,005,000 $200,111 $8,576 4.57%
    Under 20% 5 $525,000 $105,000 $3,468 4.73%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Synovus Bank Conventional home mortgage Trouble during payment process 3 27.3%
    Synovus Bank FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 9.1%
    Synovus Bank FHA mortgage Closing on a mortgage 2 18.2%
    Synovus Bank Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 9.1%
    Synovus Bank Other type of mortgage Closing on a mortgage 1 9.1%
    Synovus Bank Other type of mortgage Trouble during payment process 3 27.3%