South Central Bank Mortgage Rates, Fees & Info
GLASGOW, KYLEI: 549300LPT41QBMAC7948
Tax ID: 61-0126170
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
South Central Bank is a smaller bank specializing in Home Purchase and Refi loans. South Central Bank 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: Elizabethtown, Bowling Green, Glasgow, Louisville, and Owensboro among others. We have data for 36 markets. (Some data included below & more in-depth data is available with an active subscription.)South Central Bank 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. South Central Bank 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.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.72% | 4/5/25 |
| 30 Year Conventional Purchase | 6.84% | 4/5/25 |
| 30 Year Conventional Refi | 6.83% | 4/5/25 |
| 30 Year Cash-out Refi | 6.83% | 4/5/25 |
| 30 Year FHA Purchase | 7.14% | 4/5/25 |
| 30 Year FHA Refi | 6.53% | 4/5/25 |
| 30 Year VA Purchase | 6.39% | 4/5/25 |
| 30 Year VA Refi | 6.21% | 4/5/25 |
| 30 Year USDA Purchase | 6.82% | 4/5/25 |
| 15 Year Conventional Purchase | 6.29% | 4/5/25 |
| 15 Year Conventional Refi | 6.44% | 4/5/25 |
| 15 Year Cash-out Refi | 6.44% | 4/5/25 |
| 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. | ||
South Central Bank Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from South Central Bank. 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
1,300Origination Dollar Volume (All Markets)
$231,180,000Awards
SOUTH CENTRAL BANK - 2024
SOUTH CENTRAL BANK is a 2024 , due to their low .
For 2024, less than of lenders were eligible for this award.
Work for SOUTH CENTRAL BANK?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
Relative Rate
South Central Bank's average 30 year fixed mortgage rate was
6.52%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of -0.03%.
Relative Fees (Closing Costs)
South Central Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,704.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $8,356.
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 |
|---|---|---|---|---|---|
| ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) | 221 | $53,125,000 | $240,385 | $4,958 | 7.12% |
| BOWLING GREEN, KY (FHA|USDA|VA) | 323 | $47,125,000 | $145,898 | $4,223 | 7.97% |
| Outside of Metro Areas | 227 | $30,325,000 | $133,590 | $3,680 | 7.76% |
| Glasgow, KY (FHA|USDA|VA) | 209 | $25,505,000 | $122,033 | $3,429 | 8.11% |
| LOUISVILLE, KY (FHA|USDA|VA) | 71 | $21,395,000 | $301,338 | $4,850 | 7.62% |
| OWENSBORO, KY (FHA|USDA|VA) | 98 | $15,920,000 | $162,449 | $3,652 | 7.96% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 55 | $13,335,000 | $242,455 | $4,003 | 7.57% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 18 | $6,490,000 | $360,556 | $7,076 | 7.30% |
| Bardstown, KY (FHA|USDA|VA) | 14 | $3,520,000 | $251,429 | $4,543 | 6.30% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 5 | $2,595,000 | $519,000 | $2,858 | 7.50% |
| Somerset, KY (FHA|USDA|VA) | 19 | $2,255,000 | $118,684 | $3,113 | 7.86% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 6 | $1,420,000 | $236,667 | $3,348 | 7.52% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $820,000 | $410,000 | $0 | 8.00% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $745,000 | $745,000 | $6,371 | 7.74% |
| Frankfort, KY (FHA|USDA|VA) | 4 | $620,000 | $155,000 | $6,304 | 7.44% |
| LaGrange, GA-AL (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $19,386 | 6.50% |
| Danville, KY (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $8,919 | 7.25% |
| Campbellsville, KY (FHA|USDA|VA) | 3 | $465,000 | $155,000 | $2,472 | 7.04% |
| Paducah, KY-IL (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $3,215 | 7.25% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 8.50% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $4,021 | 7.25% |
| Lake City, FL (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 8.00% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 8.00% |
| CLEVELAND, TN (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,457 | 7.88% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 8.00% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,384 | 6.50% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $7,199 | 6.50% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 8.00% |
| Middlesborough, KY (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $5,610 | 6.00% |
| Mount Sterling, KY (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 9.00% |
| Richmond-Berea, KY (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $1,415 | 8.80% |
| Central City, KY (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $2,687 | 7.75% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $0 | 8.25% |
| Cullman, AL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 8.50% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $4,625 | 6.00% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 8.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against SOUTH CENTRAL BANK based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 36
Similarity Rank: 60
Similarity Rank: 72
Similarity Rank: 110
Similarity Rank: 136
Similarity Rank: 156
Similarity Rank: 253
Similarity Rank: 260
Similarity Rank: 330
Similarity Rank: 369
Product Mix
For 2024, South Central Bank's most frequently originated type of loan was HELOC, with 584 originations. Their 2nd most popular type was Conventional, with 543 originations.
Loan Reason
For 2024, South Central Bank's most frequently cited loan purpose was Home Purchase, with 545 originations. The 2nd most popular reason was Refi, with 318 originations.
Loan Duration/Length
For 2024, South Central Bank's most frequently cited loan duration was 10 Year, with 520 originations. The 2nd most popular length was 30 Year, with 431 originations.
Origination Fees/Closing Costs
South Central Bank's average total fees were $4,704, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 368 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 523 | $53,695,000 | $102,667 |
| 7-8% | 367 | $85,885,000 | $234,019 |
| 6-7% | 314 | $69,660,000 | $221,847 |
| 5-6% | 92 | $21,060,000 | $228,913 |
| 4-5% | 4 | $880,000 | $220,000 |
During 2024, South Central Bank's average interest rate for loans was 6.52%, while their most frequently originated rate bucket for loans was Over 8%, with 523 originations.
Loan Sizing
2024 saw South Central Bank place emphasis on $100,000 or less loans with 513 originations, totaling $27,495,000 in origination value.
Applicant Income
South Central Bank lent most frequently to those with incomes in the $100k-150k range, with 289 originations. The second most popular income band? $50k-75k, with 272 originations.
Applicant Debt to Income Ratio
South Central Bank lent most frequently to those with DTI ratios of 20-30%, with 245 originations. The next most common DTI ratio? 30-36%, with 198 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.30%
South Central Bank has an average approval rate.
Pick Rate
Approvals leading to origination81.08%
South Central Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,300 | $231,180,000 | $177,831 |