First South Financial Mortgage Rates, Fees & Info
Bartlett, TNLEI: 549300K2JM6ID3V5LO24
Tax ID: 62-0579508
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Mortgage Data
Review & Overview
First South Financial is a smaller mortgage company specializing in Home Purchase loans. First South Financial 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: Memphis, Jackson, Jackson, Atlanta, and Nashville among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)First South Financial has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
115Origination Dollar Volume (All Markets)
$30,305,000Top 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 |
|---|---|---|---|---|---|
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 71 | $18,735,000 | $263,873 | $0 | 0.00% |
| JACKSON, TN (FHA|USDA|VA) | 11 | $3,045,000 | $276,818 | $0 | 0.00% |
| JACKSON, MS (FHA|USDA|VA) | 12 | $2,510,000 | $209,167 | $0 | 0.00% |
| Outside of Metro Areas | 5 | $1,315,000 | $263,000 | $0 | 0.00% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 3 | $1,125,000 | $375,000 | $0 | 0.00% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 2 | $980,000 | $490,000 | $0 | 0.00% |
| Tupelo, MS (FHA|USDA|VA) | 1 | $745,000 | $745,000 | $0 | 0.00% |
| Dyersburg, TN (FHA|USDA|VA) | 4 | $670,000 | $167,500 | $0 | 0.00% |
| Union City, TN (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $0 | 0.00% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 92 | $25,180,000 | $273,696 | $0 | 0.00% |
| FHA | 21 | $4,875,000 | $232,143 | $0 | 0.00% |
| USDA | 2 | $250,000 | $125,000 | $0 | 0.00% |
For 2024, First South Financial's most frequently originated type of loan was Conventional, with 92 originations. Their 2nd most popular type was FHA, with 21 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 89 | $24,175,000 | $271,629 | $0 | 0.00% |
| Cash Out Refi | 16 | $3,180,000 | $198,750 | $0 | 0.00% |
| Refi | 10 | $2,950,000 | $295,000 | $0 | 0.00% |
For 2024, First South Financial's most frequently cited loan purpose was Home Purchase, with 89 originations. The 2nd most popular reason was Cash Out Refi, with 16 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 115 | $30,305,000 | $263,522 | $0 | 0.00% |
For 2024, First South Financial's most frequently cited loan duration was Other, with 115 originations.
Loan Sizing
2024 saw First South Financial place emphasis on $200k-400k loans with 53 originations, totaling $14,135,000 in origination value.
Applicant Income
First South Financial lent most frequently to those with incomes in the $100k-150k range, with 29 originations. The second most popular income band? $50k-75k, with 25 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 115 | $30,305,000 | $263,522 | $0 | 0.00% |
First South Financial lent most frequently to those with DTI ratios of Exempt%, with 115 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.65%
First South Financial has an average approval rate.
Pick Rate
Approvals leading to origination68.70%
First South Financial 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 |
|---|---|---|---|
| Exempt | 115 | $30,305,000 | $263,522 |