Sullivan Bank Mortgage Rates, Fees & Info
Sullivan, MOLEI: 549300MK77IBUMJBI791
Tax ID: 43-0170310
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Mortgage Data
Review & Overview
Sullivan Bank is a smaller bank specializing in Home Purchase loans. Sullivan Bank has a high proportion of conventional loans. They have a low ratio of USDA 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: St. Louis, Springfield, Rolla, Crestview, and Branson among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)Sullivan 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. Sullivan 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 relatively high 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.74% | 12/16/24 |
| 30 Year Conventional Refi | 6.53% | 12/16/24 |
| 30 Year Cash-out Refi | 6.80% | 12/16/24 |
| 30 Year FHA Purchase | 7.14% | 12/16/24 |
| 30 Year USDA Purchase | 6.42% | 12/16/24 |
| 15 Year Conventional Purchase | 5.86% | 12/16/24 |
| 15 Year Conventional Refi | 5.56% | 12/16/24 |
| 15 Year Cash-out Refi | 5.56% | 12/16/24 |
| 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. | ||
Sullivan Bank Mortgage Calculator
Your Estimates
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This is not an official calculator from Sullivan Bank. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
374Origination Dollar Volume (All Markets)
$98,890,000Awards
Sullivan Bank - 2023
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For 2023, less than of lenders were eligible for this award.
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Relative Rate
Sullivan Bank's average 30 year fixed mortgage rate was
7.25%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.77%.
Relative Fees (Closing Costs)
Sullivan Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $2,330.
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 $9,089.
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 |
|---|---|---|---|---|---|
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 218 | $52,240,000 | $239,633 | $2,312 | 7.78% |
| Outside of Metro Areas | 95 | $22,675,000 | $238,684 | $1,865 | 7.77% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 36 | $16,740,000 | $465,000 | $888 | 8.18% |
| Rolla, MO (FHA|USDA|VA) | 7 | $1,965,000 | $280,714 | $2,260 | 8.68% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $1,765,000 | $1,765,000 | $0 | 8.25% |
| Branson, MO (FHA|USDA|VA) | 5 | $1,225,000 | $245,000 | $1,412 | 7.30% |
| JOPLIN, MO (FHA|USDA|VA) | 4 | $780,000 | $195,000 | $0 | 8.13% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $0 | 8.38% |
| COLUMBIA, MO (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $2,212 | 7.38% |
| Harrison, AR (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,743 | 7.50% |
| Fort Leonard Wood, MO (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 8.25% |
| Poplar Bluff, MO (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $1,361 | 8.50% |
| Lebanon, MO (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $2,498 | 6.95% |
| Farmington, MO (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $1,717 | 9.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against Sullivan Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 56
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 368 | $97,920,000 | $266,087 | $2,070 | 7.86% |
| USDA | 5 | $755,000 | $151,000 | $4,506 | 6.35% |
| FHA | 1 | $215,000 | $215,000 | $7,279 | 6.13% |
For 2023, Sullivan Bank's most frequently originated type of loan was Conventional, with 368 originations. Their 2nd most popular type was USDA, with 5 originations.
Loan Reason
For 2023, Sullivan Bank's most frequently cited loan purpose was Home Purchase, with 251 originations. The 2nd most popular reason was Refi, with 55 originations.
Loan Duration/Length
For 2023, Sullivan Bank's most frequently cited loan duration was 30 Year, with 139 originations. The 2nd most popular length was 3 Year, with 59 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 166 | $41,090,000 | $247,530 |
| $1k-2k | 4 | $680,000 | $170,000 |
Sullivan Bank's average total fees were $2,330, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 166 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 171 | $43,425,000 | $253,947 |
| 7-8% | 117 | $33,415,000 | $285,598 |
| 6-7% | 76 | $19,920,000 | $262,105 |
| 5-6% | 10 | $2,130,000 | $213,000 |
During 2023, Sullivan Bank's average interest rate for loans was 7.25%, while their most frequently originated rate bucket for loans was Over 8%, with 171 originations.
Loan Sizing
2023 saw Sullivan Bank place emphasis on $100k-200k loans with 134 originations, totaling $18,590,000 in origination value.
Applicant Income
Sullivan Bank lent most frequently to those with incomes in the $50k-75k range, with 45 originations. The second most popular income band? $100k-150k, with 44 originations.
Applicant Debt to Income Ratio
Sullivan Bank lent most frequently to those with DTI ratios of 20-30%, with 35 originations. The next most common DTI ratio? 30-36%, with 34 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.71%
Sullivan 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 origination86.10%
Sullivan Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 374 | $98,890,000 | $264,412 |