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. 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 11/17/24 |
| 30 Year Conventional Purchase | 6.42% | 11/17/24 |
| 30 Year Conventional Refi | 6.43% | 11/17/24 |
| 30 Year Cash-out Refi | 6.59% | 11/17/24 |
| 30 Year VA Purchase | 5.62% | 11/17/24 |
| 30 Year USDA Purchase | 6.27% | 11/17/24 |
| 15 Year Conventional Purchase | 5.95% | 11/17/24 |
| 15 Year Conventional Refi | 6.18% | 11/17/24 |
| 15 Year Cash-out Refi | 6.18% | 11/17/24 |
| 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
865Origination Dollar Volume (All Markets)
$217,295,000Top 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% |
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
| 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
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
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
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
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
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
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
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
Approval Rates
Total approvals of all applications89.32%
State Bank Of Southern Utah has an average approval rate.
Pick Rate
Approvals leading to origination85.43%
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 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Statebridge Company | Conventional home mortgage | Closing on a mortgage | 1 | 100.0% |