Peoples Bank Of The South Mortgage Rates, Fees & Info
La Follette, TNLEI: 549300LWR6X0ZAV34H19
Tax ID: 62-0322970
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Mortgage Data
Review & Overview
Peoples Bank Of The South is a smaller bank specializing in Refi and Home Purchase loans. Peoples Bank Of The South has a high proportion of conventional loans. Peoples Bank Of The South has a low ratio of conventional loans. Their top markets by origination volume include: Knoxville, Morristown, Cleveland, Sevierville, and Crestview among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)Peoples Bank Of The South has an above average approval rate when compared to the average across all lenders.
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Originations
242Origination Dollar Volume (All Markets)
$36,120,000Top 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 |
|---|---|---|---|---|---|
| KNOXVILLE, TN (FHA|USDA|VA) | 196 | $26,840,000 | $136,939 | $0 | 8.00% |
| MORRISTOWN, TN (FHA|USDA|VA) | 13 | $3,215,000 | $247,308 | $0 | 0.00% |
| Outside of Metro Areas | 16 | $1,560,000 | $97,500 | $0 | 0.00% |
| CLEVELAND, TN (FHA|USDA|VA) | 5 | $1,445,000 | $289,000 | $0 | 0.00% |
| Sevierville, TN (FHA|USDA|VA) | 5 | $925,000 | $185,000 | $0 | 0.00% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $0 | 0.00% |
| FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 0.00% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 0.00% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| JOHNSON CITY, TN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| SPRINGFIELD, OH (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 241 | $35,935,000 | $149,108 | $0 | 0.00% |
| Conventional | 1 | $185,000 | $185,000 | $0 | 8.00% |
For 2023, Peoples Bank Of The South's most frequently originated type of loan was Conventional, with 241 originations. Their 2nd most popular type was Conventional, with 1 originations.
Loan Reason
For 2023, Peoples Bank Of The South's most frequently cited loan purpose was Refi, with 121 originations. The 2nd most popular reason was Home Purchase, with 70 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 241 | $35,935,000 | $149,108 | $0 | 0.00% |
| 1 Year | 1 | $185,000 | $185,000 | $0 | 8.00% |
For 2023, Peoples Bank Of The South's most frequently cited loan duration was Other, with 241 originations. The 2nd most popular length was 1 Year, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 1 | $185,000 | $185,000 |
During 2023, Peoples Bank Of The South's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 7-8%, with 1 originations.
Loan Sizing
2023 saw Peoples Bank Of The South place emphasis on $100,000 or less loans with 108 originations, totaling $4,600,000 in origination value.
Applicant Income
Peoples Bank Of The South lent most frequently to those with incomes in the $50k or less range, with 49 originations. The second most popular income band? $250k+, with 38 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 241 | $35,935,000 | $149,108 | $0 | 0.00% |
Peoples Bank Of The South lent most frequently to those with DTI ratios of Exempt%, with 241 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.78%
Peoples Bank Of The South has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 241 | $35,935,000 | $149,108 |
| NA | 1 | $185,000 | $185,000 |