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 Refi, Cash Out Refi, and Home Purchase loans. First South Financial has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Memphis, Jackson, Nashville, Dyersburg, and Paris among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)First South Financial 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.
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Originations
335Origination Dollar Volume (All Markets)
$64,245,000Top 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) | 295 | $56,715,000 | $192,254 | $0 | 0.00% |
| JACKSON, TN (FHA|USDA|VA) | 9 | $1,275,000 | $141,667 | $0 | 0.00% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 5 | $1,225,000 | $245,000 | $0 | 0.00% |
| Outside of Metro Areas | 6 | $1,200,000 | $200,000 | $0 | 0.00% |
| Dyersburg, TN (FHA|USDA|VA) | 7 | $745,000 | $106,429 | $0 | 0.00% |
| Paris, TN (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $0 | 0.00% |
| Oxford, MS (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $0 | 0.00% |
| JOHNSON CITY, TN (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $0 | 0.00% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $0 | 0.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 0.00% |
| JONESBORO, AR (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $0 | 0.00% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| Paragould, AR (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
| JACKSON, MS (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| Union City, TN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| Natchez, MS-LA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 333 | $63,905,000 | $191,907 | $0 | 0.00% |
| FHA | 2 | $340,000 | $170,000 | $0 | 0.00% |
For 2021, First South Financial's most frequently originated type of loan was Conventional, with 333 originations. Their 2nd most popular type was FHA, with 2 originations.
Loan Reason
For 2021, First South Financial's most frequently cited loan purpose was Refi, with 158 originations. The 2nd most popular reason was Cash Out Refi, with 103 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 335 | $64,245,000 | $191,776 | $0 | 0.00% |
For 2021, First South Financial's most frequently cited loan duration was Other, with 335 originations.
Loan Sizing
2021 saw First South Financial place emphasis on $100k-200k loans with 144 originations, totaling $21,440,000 in origination value.
Applicant Income
First South Financial lent most frequently to those with incomes in the $100k-150k range, with 104 originations. The second most popular income band? $50k-75k, with 66 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 335 | $64,245,000 | $191,776 | $0 | 0.00% |
First South Financial lent most frequently to those with DTI ratios of Exempt%, with 335 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.20%
First South Financial has an average approval rate.
Pick Rate
Approvals leading to origination66.87%
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 | 335 | $64,245,000 | $191,776 |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST FINANCIAL BANCORP | Conventional home mortgage | Struggling to pay mortgage | 1 | 25.0% |
| FIRST FINANCIAL BANCORP | Other type of mortgage | Trouble during payment process | 1 | 25.0% |
| FIRST FINANCIAL BANCORP | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 25.0% |
| FIRST FINANCIAL BANCORP | Conventional home mortgage | Trouble during payment process | 1 | 25.0% |