Southeastern Bank Mortgage Rates, Fees & Info

Darien, GA

LEI: 549300LG7IO23TN5LR98

Tax ID: 58-0214350

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Mortgage Data

Review & Overview

Southeastern Bank is a smaller bank specializing in Home Purchase and Refi loans. Southeastern Bank has a high proportion of conventional loans. Their top markets by origination volume include: Brunswick, Savannah, St. Marys, Hinesville, and Jacksonville among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

Southeastern Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

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Originations

186

Origination Dollar Volume (All Markets)

$34,370,000

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
BRUNSWICK, GA (FHA|USDA|VA) 125 $20,585,000 $164,680 $0 0.00%
SAVANNAH, GA (FHA|USDA|VA) 22 $4,120,000 $187,273 $0 0.00%
St. Marys, GA (FHA|USDA|VA) 11 $3,445,000 $313,182 $0 0.00%
HINESVILLE, GA (FHA|USDA|VA) 8 $2,100,000 $262,500 $0 0.00%
JACKSONVILLE, FL (FHA|USDA|VA) 5 $1,465,000 $293,000 $0 0.00%
OCALA, FL (FHA|USDA|VA) 1 $765,000 $765,000 $0 0.00%
Outside of Metro Areas 7 $755,000 $107,857 $0 0.00%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $465,000 $465,000 $0 0.00%
Jesup, GA (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
Statesboro, GA (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
Waycross, GA (FHA|USDA|VA) 3 $105,000 $35,000 $0 0.00%
Southeastern Bank's top markets include Brunswick, Savannah, St. Marys, Hinesville, and Jacksonville among others.

Their top states include:
  • Georgia (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 186 $34,370,000 $184,785 $0 0.00%

    For 2023, Southeastern Bank's most frequently originated type of loan was Conventional, with 186 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 90 $21,340,000 $237,111 $0 0.00%
    Refi 60 $8,550,000 $142,500 $0 0.00%
    Home Improvement 15 $1,385,000 $92,333 $0 0.00%
    Cash Out Refi 12 $1,530,000 $127,500 $0 0.00%
    Other 9 $1,565,000 $173,889 $0 0.00%

    For 2023, Southeastern Bank's most frequently cited loan purpose was Home Purchase, with 90 originations. The 2nd most popular reason was Refi, with 60 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 186 $34,370,000 $184,785 $0 0.00%

    For 2023, Southeastern Bank's most frequently cited loan duration was Other, with 186 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 81 $3,955,000 $48,827 $0 0.00%
    $100k-200k 44 $6,180,000 $140,455 $0 0.00%
    $200k-400k 38 $9,850,000 $259,211 $0 0.00%
    $400k-600k 13 $6,295,000 $484,231 $0 0.00%
    $600k-1MM 8 $5,970,000 $746,250 $0 0.00%
    $1MM+ 2 $2,120,000 $1,060,000 $0 0.00%

    2023 saw Southeastern Bank place emphasis on $100,000 or less loans with 81 originations, totaling $3,955,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 26 $3,220,000 $123,846 $0 0.00%
    $50k or less 25 $2,035,000 $81,400 $0 0.00%
    $100k-150k 22 $3,210,000 $145,909 $0 0.00%
    $150k-250k 20 $3,120,000 $156,000 $0 0.00%
    $50k-75k 20 $2,020,000 $101,000 $0 0.00%
    $250k+ 14 $5,840,000 $417,143 $0 0.00%

    Southeastern Bank lent most frequently to those with incomes in the $75k-100k range, with 26 originations. The second most popular income band? $50k or less, with 25 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 186 $34,370,000 $184,785 $0 0.00%

    Southeastern Bank lent most frequently to those with DTI ratios of Exempt%, with 186 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 109 $18,085,000 $165,917 $0 0.00%
    Not applicable 55 $13,825,000 $251,364 $0 0.00%
    Black 16 $2,010,000 $125,625 $0 0.00%
    Not provided 3 $265,000 $88,333 $0 0.00%
    Asian 3 $185,000 $61,667 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.50%

    Southeastern Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    96.24%

    Southeastern Bank 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
    Exempt 186 $34,370,000 $184,785

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    186 $34,370,000 $184,785