Service One Mortgage Rates, Fees & Info

Bowling Green, KY

LEI: 549300J2D35S72FE4K21

Tax ID: 61-6034178

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

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  • SimulatedRates™
  • Mortgage Calculator

    • 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

    Service One is a smaller mortgage company specializing in Refi, Home Purchase, and Cash Out Refi loans. Service One has a high proportion of conventional loans. Their top markets by origination volume include: Bowling Green, Glasgow, Nashville, Owensboro, and Louisville among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Service One has an average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Service One is typically a low 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 5.64% 11/17/24
    30 Year Conventional Refi 5.32% 11/17/24
    30 Year Cash-out Refi 5.91% 11/17/24
    15 Year Conventional Purchase 5.26% 11/17/24
    15 Year Conventional Refi 5.20% 11/17/24
    15 Year Cash-out Refi 5.20% 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.

    Service One Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Service One. 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

    164

    Origination Dollar Volume (All Markets)

    $22,770,000

    Awards

    SERVICE ONE 30 Year Conventional Loans silver SERVICE ONE 30 Year Conventional Loans gold
    Show all (2) 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
    BOWLING GREEN, KY (FHA|USDA|VA) 133 $18,375,000 $138,158 $1,680 3.51%
    Outside of Metro Areas 16 $1,730,000 $108,125 $1,423 3.79%
    Glasgow, KY (FHA|USDA|VA) 11 $1,725,000 $156,818 $1,779 4.01%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $385,000 $385,000 $1,588 1.50%
    OWENSBORO, KY (FHA|USDA|VA) 1 $345,000 $345,000 $2,494 3.50%
    LOUISVILLE, KY (FHA|USDA|VA) 1 $145,000 $145,000 $2,191 3.00%
    Campbellsville, KY (FHA|USDA|VA) 1 $65,000 $65,000 $1,790 3.13%
    Service One's top markets include Bowling Green, Glasgow, Nashville, Owensboro, and Louisville among others.

    Their top states include:
  • Kentucky (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)

    • Similar Lenders

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

    SERVICE ONE
    Similarity Rank: 154
    Morgantown Bank & Trust Company, Incorporated
    Similarity Rank: 186
    Edmonton State Bank
    Similarity Rank: 204
    Abound Federal Credit Union
    Similarity Rank: 480
    SOUTH CENTRAL BANK, INC.
    Similarity Rank: 867
    Independence Bank of Kentucky
    Similarity Rank: 1020
    German American Bank
    Similarity Rank: 1176
    EVANSVILLE TEACHERS
    Similarity Rank: 2431
    FIRST COMMUNITY MORTGAGE, INC.
    Similarity Rank: 3696
    FREEDOM MORTGAGE CORPORATION
    Similarity Rank: 4615

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 164 $22,770,000 $138,841 $1,669 3.56%

    For 2020, Service One's most frequently originated type of loan was Conventional, with 164 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 56 $8,470,000 $151,250 $1,688 3.20%
    Home Purchase 46 $7,780,000 $169,130 $2,113 3.33%
    Cash Out Refi 39 $5,765,000 $147,821 $1,978 2.95%
    Other 12 $370,000 $30,833 $234 6.06%
    Home Improvement 11 $385,000 $35,000 $236 5.70%

    For 2020, Service One's most frequently cited loan purpose was Refi, with 56 originations. The 2nd most popular reason was Home Purchase, with 46 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 85 $15,155,000 $178,294 $2,058 3.18%
    10 Year 24 $1,320,000 $55,000 $792 4.60%
    15 Year 21 $2,685,000 $127,857 $1,557 3.68%
    20 Year 19 $2,755,000 $145,000 $2,002 2.84%
    Other 8 $690,000 $86,250 $1,026 4.05%
    5 Year 7 $165,000 $23,571 $234 5.50%

    For 2020, Service One's most frequently cited loan duration was 30 Year, with 85 originations. The 2nd most popular length was 10 Year, with 24 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 164 $22,770,000 $138,841

    Service One's average total fees were $2,058, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 164 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 69 $10,935,000 $158,478
    <2.5% 33 $5,835,000 $176,818
    2.5-3% 22 $3,780,000 $171,818
    5-6% 15 $615,000 $41,000
    4-5% 14 $1,180,000 $84,286
    6-7% 9 $385,000 $42,778
    7-8% 2 $40,000 $20,000

    During 2020, Service One's average interest rate for loans was 3.18%, while their most frequently originated rate bucket for loans was 3-4%, with 69 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 65 $3,515,000 $54,077 $1,032 4.36%
    $100k-200k 65 $9,325,000 $143,462 $1,975 3.13%
    $200k-400k 30 $7,690,000 $256,333 $2,208 2.85%
    $400k-600k 3 $1,355,000 $451,667 $2,757 2.54%
    $600k-1MM 1 $885,000 $885,000 $3,710 3.25%

    2020 saw Service One place emphasis on $100,000 or less loans with 65 originations, totaling $3,515,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 47 $4,215,000 $89,681 $1,607 3.73%
    $50k-75k 39 $5,145,000 $131,923 $1,614 3.76%
    $100k-150k 36 $6,760,000 $187,778 $1,721 3.34%
    $75k-100k 35 $4,555,000 $130,143 $1,613 3.47%
    $150k-250k 5 $1,165,000 $233,000 $2,204 2.43%
    $250k+ 1 $885,000 $885,000 $3,710 3.25%

    Service One lent most frequently to those with incomes in the $50k or less range, with 47 originations. The second most popular income band? $50k-75k, with 39 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 55 $7,305,000 $132,818 $1,617 3.58%
    30-36% 37 $5,835,000 $157,703 $1,805 3.68%
    <20% 34 $4,430,000 $130,294 $1,615 3.28%
    39% 7 $945,000 $135,000 $1,719 4.09%
    37% 6 $780,000 $130,000 $1,697 3.13%
    40% 6 $1,270,000 $211,667 $2,040 2.60%
    41% 5 $235,000 $47,000 $1,055 4.18%
    36% 5 $665,000 $133,000 $1,629 3.78%
    43% 3 $455,000 $151,667 $2,178 4.08%
    38% 2 $250,000 $125,000 $1,240 4.69%
    42% 2 $250,000 $125,000 $1,071 3.63%
    44% 1 $165,000 $165,000 $2,172 3.50%
    45% 1 $185,000 $185,000 $2,003 3.38%

    Service One lent most frequently to those with DTI ratios of 20-30%, with 55 originations. The next most common DTI ratio? 30-36%, with 37 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 156 $21,960,000 $140,769 $1,696 3.48%
    Asian 3 $455,000 $151,667 $1,954 3.54%
    Black 4 $340,000 $85,000 $766 6.00%
    Not provided 1 $15,000 $15,000 $273 5.25%

    Approval Rates

    Total approvals of all applications
    73.82%

    Service One has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    95.12%

    Service One has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 164 $22,770,000 $138,841

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 2 $170,000 $85,000
    Single Family (1-4 Units):Site-Built 162 $22,600,000 $139,506

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 20 $1,040,000 $52,000 $872 4.58%
    40-60% 17 $1,535,000 $90,294 $1,597 3.31%
    60-80% 48 $7,870,000 $163,958 $1,913 2.75%
    80-100% 64 $11,950,000 $186,719 $2,086 3.43%
    Under 20% 15 $375,000 $25,000 $313 5.61%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    SERVICEMAC, LLC VA mortgage Trouble during payment process 5 62.5%
    SERVICEMAC, LLC Conventional home mortgage Trouble during payment process 3 37.5%