State Bank Of Southern Utah Mortgage Rates, Fees & Info

Cedar City, UT

LEI: 549300IQGEUYRQBJC007

Tax ID: 87-0234702

5 stars - Updated: 12/10/23 - out of 5 stars, based on 29 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    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. Their top markets by origination volume include: Cedar City, St. George, Provo, Salt Lake City, and Flagstaff among others. We have data for 9 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 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) 6.27% 12/10/23
    30 Year Conventional Purchase 6.42% 12/10/23
    30 Year Conventional Refi 6.43% 12/10/23
    30 Year Cash-out Refi 6.59% 12/10/23
    30 Year VA Purchase 5.62% 12/10/23
    30 Year USDA Purchase 6.27% 12/10/23
    15 Year Conventional Purchase 5.95% 12/10/23
    15 Year Conventional Refi 6.18% 12/10/23
    15 Year Cash-out Refi 6.18% 12/10/23
    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






    Your Estimates

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

    This is not an official calculator from State Bank Of Southern Utah. 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

    865

    Origination Dollar Volume (All Markets)

    $217,295,000

    Awards

    State Bank of Southern Utah 30 Year Conventional Loans gold State Bank of Southern Utah 30 Year Conventional Loans bronze
    Show all (2) awards

    Relative Rate

    State Bank Of Southern Utah's average 30 year fixed mortgage rate was 4.86%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of 0.1%.

    Relative Fees (Closing Costs)

    State Bank Of Southern Utah's average total fees/closing costs for a 30 year fixed rate mortgage were $5,340.

    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 $4,750.

    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) 338 $101,270,000 $299,615 $5,012 4.92%
    Outside of Metro Areas 317 $59,085,000 $186,388 $4,485 4.84%
    ST. GEORGE, UT (FHA|USDA|VA) 193 $52,515,000 $272,098 $6,131 4.82%
    PROVO-OREM, UT (FHA|USDA|VA) 5 $1,355,000 $271,000 $3,336 4.65%
    SALT LAKE CITY, UT (FHA|USDA|VA) 3 $995,000 $331,667 $5,054 5.50%
    FLAGSTAFF, AZ (FHA|USDA|VA) 4 $940,000 $235,000 $4,661 4.34%
    LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 3 $775,000 $258,333 $0 4.58%
    Vernal, UT (FHA|USDA|VA) 1 $255,000 $255,000 $0 5.65%
    OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 1 $105,000 $105,000 $0 5.50%
    State Bank Of Southern Utah's top markets include Cedar City, St. George, Provo, Salt Lake City, and Flagstaff among others.

    Their top states include:
  • Utah (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Nevada (FHA|USDA|VA)

    • 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.

    University First Federal Credit Union
    Similarity Rank: 470
    State Bank of Southern Utah
    Similarity Rank: 666
    UTAH COMMUNITY
    Similarity Rank: 770
    Cache Valley Bank
    Similarity Rank: 782
    GOLDENWEST
    Similarity Rank: 968
    SECURITY HOME MORTGAGE, LLC.
    Similarity Rank: 1742
    MY MOVE MORTGAGE, LLC
    Similarity Rank: 1820
    North American Savings Bank, F.S.B.
    Similarity Rank: 2148
    Bank of Utah
    Similarity Rank: 3360
    CITY FIRST MORTGAGE SERVICES, L.L.C.
    Similarity Rank: 4640

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 512 $82,020,000 $160,195 n/a 4.96%
    Conventional 350 $133,740,000 $382,114 $5,015 4.72%
    VA 3 $1,535,000 $511,667 $6,423 5.25%

    For 2022, State Bank Of Southern Utah's most frequently originated type of loan was HELOC, with 512 originations. Their 2nd most popular type was Conventional, with 350 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 254 $112,680,000 $443,622 $5,622 4.99%
    Other 247 $37,535,000 $151,964 $3,021 4.92%
    Refi 166 $35,580,000 $214,337 $3,502 4.92%
    Home Improvement 147 $19,525,000 $132,823 $4,415 4.89%
    Cash Out Refi 51 $11,975,000 $234,804 $3,713 3.77%

    For 2022, State Bank Of Southern Utah's most frequently cited loan purpose was Home Purchase, with 254 originations. The 2nd most popular reason was Other, with 247 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 524 $83,850,000 $160,019 $3,990 4.95%
    30 Year 248 $84,790,000 $341,895 $5,340 4.86%
    15 Year 49 $10,845,000 $221,327 $3,769 3.49%
    10 Year 16 $4,560,000 $285,000 $2,721 5.45%
    1 Year 12 $5,140,000 $428,333 $0 5.44%
    Other 12 $18,940,000 $1,578,333 $0 5.31%
    5 Year 3 $1,325,000 $441,667 $0 5.93%
    30+ year 1 $7,845,000 $7,845,000 $0 5.50%

    For 2022, State Bank Of Southern Utah's most frequently cited loan duration was 20 Year, with 524 originations. The 2nd most popular length was 30 Year, with 248 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 141 $35,595,000 $252,447
    $5k+ 55 $26,185,000 $476,091
    $2k-3k 48 $14,420,000 $300,417
    $3k-4k 34 $12,000,000 $352,941
    $4k-5k 24 $8,060,000 $335,833
    $<1k 4 $1,010,000 $252,500

    State Bank Of Southern Utah's average total fees were $5,340, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 141 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 318 $67,290,000 $211,604
    5-6% 214 $72,610,000 $339,299
    4-5% 134 $37,980,000 $283,433
    6-7% 134 $26,530,000 $197,985
    7-8% 32 $4,930,000 $154,063
    2.5-3% 28 $6,750,000 $241,071
    <2.5% 5 $1,205,000 $241,000

    During 2022, State Bank Of Southern Utah's average interest rate for loans was 4.86%, while their most frequently originated rate bucket for loans was 3-4%, with 318 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 262 $72,520,000 $276,794 $5,097 4.88%
    $100,000 or less 239 $13,385,000 $56,004 $2,500 4.97%
    $100k-200k 221 $30,435,000 $137,715 $3,280 4.82%
    $400k-600k 99 $45,545,000 $460,051 $6,389 4.79%
    $600k-1MM 34 $23,110,000 $679,706 $7,595 4.57%
    $1MM+ 10 $32,300,000 $3,230,000 $8,860 4.86%

    2022 saw State Bank Of Southern Utah place emphasis on $200k-400k loans with 262 originations, totaling $72,520,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 226 $50,480,000 $223,363 $4,980 4.84%
    $50k-75k 156 $23,970,000 $153,654 $4,432 4.94%
    $75k-100k 129 $22,495,000 $174,380 $5,282 4.82%
    $150k-250k 109 $28,395,000 $260,505 $5,694 4.93%
    $250k+ 100 $40,280,000 $402,800 $7,038 4.92%
    $50k or less 62 $7,050,000 $113,710 $3,381 4.53%

    State Bank Of Southern Utah lent most frequently to those with incomes in the $100k-150k range, with 226 originations. The second most popular income band? $50k-75k, with 156 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 195 $38,835,000 $199,154 $4,635 4.73%
    30-36% 173 $33,965,000 $196,329 $4,971 4.82%
    <20% 115 $25,075,000 $218,043 $4,743 4.56%
    38% 47 $9,025,000 $192,021 $5,544 5.07%
    41% 43 $7,965,000 $185,233 $4,514 5.09%
    37% 34 $8,380,000 $246,471 $6,557 5.32%
    40% 33 $6,435,000 $195,000 $4,850 4.55%
    39% 32 $6,800,000 $212,500 $4,843 4.86%
    36% 31 $6,705,000 $216,290 $5,923 5.25%
    44% 17 $5,745,000 $337,941 $5,419 4.60%
    42% 15 $3,735,000 $249,000 $4,325 4.71%
    43% 15 $4,285,000 $285,667 $4,408 4.69%
    47% 12 $3,590,000 $299,167 $5,686 5.05%
    49% 12 $4,260,000 $355,000 $5,901 5.38%
    45% 11 $4,355,000 $395,909 $5,395 4.33%
    46% 10 $2,900,000 $290,000 $4,629 4.68%
    48% 8 $2,770,000 $346,250 $4,997 4.91%
    >60% 1 $145,000 $145,000 $3,367 3.75%

    State Bank Of Southern Utah lent most frequently to those with DTI ratios of 20-30%, with 195 originations. The next most common DTI ratio? 30-36%, with 173 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 778 $171,170,000 $220,013 $5,036 4.84%
    Not applicable 40 $35,970,000 $899,250 $0 5.42%
    Not provided 34 $6,220,000 $182,941 $4,911 4.61%
    Asian 9 $2,125,000 $236,111 $4,592 5.32%
    Native Hawaiian or Islander 1 $1,035,000 $1,035,000 $4,922 5.00%
    Korean 1 $465,000 $465,000 $7,272 5.00%
    American Indian 2 $310,000 $155,000 $3,979 6.56%

    Approval Rates

    Total approvals of all applications
    89.32%

    State Bank Of Southern Utah has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.43%

    State Bank Of Southern Utah has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 865 $217,295,000 $251,208

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    865 $217,295,000 $251,208

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 228 $41,740,000 $183,070 $4,066 4.83%
    40-60% 167 $51,205,000 $306,617 $4,720 4.62%
    60-80% 174 $86,810,000 $498,908 $5,937 4.81%
    80-100% 53 $19,655,000 $370,849 $4,993 4.98%
    Under 20% 243 $17,885,000 $73,601 $2,726 5.09%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    Statebridge Company Conventional home mortgage Closing on a mortgage 1 100.0%