State Bank Of Southern Utah Mortgage Rates, Fees & Info
Cedar City, UTLEI: 549300IQGEUYRQBJC007
Tax ID: 87-0234702
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Mortgage Data
Review & Overview
State Bank Of Southern Utah is a smaller bank specializing in Home Purchase loans. State Bank Of Southern Utah has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Cedar City, St. George, Provo, Flagstaff, and Lake Havasu City among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)State Bank Of Southern Utah 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. State Bank Of Southern Utah 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 12/16/24 |
| 30 Year Conventional Purchase | 6.42% | 12/16/24 |
| 30 Year Conventional Refi | 6.43% | 12/16/24 |
| 30 Year Cash-out Refi | 6.59% | 12/16/24 |
| 30 Year VA Purchase | 5.62% | 12/16/24 |
| 30 Year USDA Purchase | 6.27% | 12/16/24 |
| 15 Year Conventional Purchase | 5.95% | 12/16/24 |
| 15 Year Conventional Refi | 6.18% | 12/16/24 |
| 15 Year Cash-out Refi | 6.18% | 12/16/24 |
| 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. | ||
State Bank Of Southern Utah Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
536Origination Dollar Volume (All Markets)
$140,410,000Awards
State Bank of Southern Utah - 2023
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For 2023, less than of lenders were eligible for this award.
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Relative Rate
State Bank Of Southern Utah's average 30 year fixed mortgage rate was
6.75%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.27%.
Relative Fees (Closing Costs)
State Bank Of Southern Utah's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,600.
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 |
|---|---|---|---|---|---|
| Cedar City, UT (FHA|USDA|VA) | 220 | $54,110,000 | $245,955 | $5,794 | 7.70% |
| ST. GEORGE, UT (FHA|USDA|VA) | 110 | $50,600,000 | $460,000 | $6,454 | 7.87% |
| Outside of Metro Areas | 193 | $33,935,000 | $175,829 | $4,911 | 7.92% |
| PROVO-OREM, UT (FHA|USDA|VA) | 4 | $720,000 | $180,000 | $4,173 | 7.47% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 4 | $430,000 | $107,500 | $5,024 | 7.97% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 3 | $385,000 | $128,333 | $0 | 8.28% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,388 | 6.38% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 10.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against State Bank of Southern Utah based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2023, State Bank Of Southern Utah's most frequently originated type of loan was HELOC, with 354 originations. Their 2nd most popular type was Conventional, with 180 originations.
Loan Reason
For 2023, State Bank Of Southern Utah's most frequently cited loan purpose was Other, with 180 originations. The 2nd most popular reason was Home Purchase, with 149 originations.
Loan Duration/Length
For 2023, State Bank Of Southern Utah's most frequently cited loan duration was 20 Year, with 364 originations. The 2nd most popular length was 30 Year, with 138 originations.
Origination Fees/Closing Costs
State Bank Of Southern Utah's average total fees were $5,600, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 54 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 245 | $36,935,000 | $150,755 |
| 7-8% | 184 | $40,740,000 | $221,413 |
| 6-7% | 82 | $56,560,000 | $689,756 |
| 5-6% | 25 | $6,175,000 | $247,000 |
During 2023, State Bank Of Southern Utah's average interest rate for loans was 6.75%, while their most frequently originated rate bucket for loans was Over 8%, with 245 originations.
Loan Sizing
2023 saw State Bank Of Southern Utah place emphasis on $100,000 or less loans with 163 originations, totaling $8,195,000 in origination value.
Applicant Income
State Bank Of Southern Utah lent most frequently to those with incomes in the $100k-150k range, with 135 originations. The second most popular income band? $50k-75k, with 89 originations.
Applicant Debt to Income Ratio
State Bank Of Southern Utah lent most frequently to those with DTI ratios of 30-36%, with 113 originations. The next most common DTI ratio? 20-30%, with 110 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.46%
State Bank Of Southern Utah has an average approval rate.
Pick Rate
Approvals leading to origination85.45%
State Bank Of Southern Utah has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 536 | $140,410,000 | $261,959 |