Sullivan Bank Mortgage Rates, Fees & InfoSullivan, MO
Tax ID: 43-0170310
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewSullivan Bank is a smaller bank specializing in Home Purchase and Cash Out Refi 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, Branson, Napa, and Joplin among others. We have data for 25 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 an above 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 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.
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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.74%||4/2/23|
|30 Year Conventional Refi||6.53%||4/2/23|
|30 Year Cash-out Refi||6.80%||4/2/23|
|30 Year FHA Purchase||7.14%||4/2/23|
|30 Year USDA Purchase||6.42%||4/2/23|
|15 Year Conventional Purchase||5.86%||4/2/23|
|15 Year Conventional Refi||5.56%||4/2/23|
|15 Year Cash-out Refi||5.56%||4/2/23|
|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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Origination Dollar Volume (All Markets)$189,395,000
Sullivan Bank's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.14%.
Relative Fees (Closing Costs)
Sullivan Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $2,155.
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 $4,750.
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)||315||$66,665,000||$211,635||$2,009||4.99%|
|SPRINGFIELD, MO (FHA|USDA|VA)||126||$66,610,000||$528,651||$1,538||5.18%|
|Outside of Metro Areas||181||$38,245,000||$211,298||$1,900||5.12%|
|Branson, MO (FHA|USDA|VA)||5||$3,165,000||$633,000||$0||4.62%|
|NAPA, CA (FHA|USDA|VA)||1||$2,005,000||$2,005,000||$0||4.00%|
|JOPLIN, MO (FHA|USDA|VA)||8||$1,850,000||$231,250||$0||5.40%|
|CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA)||3||$1,685,000||$561,667||$0||4.25%|
|DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA)||2||$1,630,000||$815,000||$0||4.25%|
|ABILENE, TX (FHA|USDA|VA)||1||$1,275,000||$1,275,000||$10,856||7.00%|
|Pearsall, TX (FHA|USDA|VA)||1||$1,105,000||$1,105,000||$0||5.25%|
|CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA)||1||$845,000||$845,000||$0||4.25%|
|FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA)||2||$680,000||$340,000||$2,354||4.53%|
|KANSAS CITY, MO-KS (FHA|USDA|VA)||3||$675,000||$225,000||$350||5.25%|
|COLUMBUS, GA-AL (FHA|USDA|VA)||4||$440,000||$110,000||$0||4.50%|
|JEFFERSON CITY, MO (FHA|USDA|VA)||2||$410,000||$205,000||$0||5.13%|
|PANAMA CITY, FL (FHA|USDA|VA)||1||$355,000||$355,000||$0||4.13%|
|North Port-Sarasota-Bradenton, FL (FHA|USDA|VA)||1||$305,000||$305,000||$0||5.00%|
|Rolla, MO (FHA|USDA|VA)||3||$285,000||$95,000||$1,154||4.86%|
|DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA)||1||$265,000||$265,000||$2,112||6.75%|
|JONESBORO, AR (FHA|USDA|VA)||1||$255,000||$255,000||$2,526||6.25%|
|CAPE GIRARDEAU, MO-IL (FHA|USDA|VA)||1||$205,000||$205,000||$1,537||3.63%|
|COLUMBIA, MO (FHA|USDA|VA)||1||$195,000||$195,000||$2,553||5.00%|
|LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA)||1||$105,000||$105,000||$0||4.25%|
|DAYTON-KETTERING, OH (FHA|USDA|VA)||1||$85,000||$85,000||$0||4.00%|
|Fort Leonard Wood, MO (FHA|USDA|VA)||1||$55,000||$55,000||$0||5.88%|
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.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Sullivan Bank's most frequently originated type of loan was Conventional, with 653 originations. Their 2nd most popular type was USDA, with 11 originations.
For 2022, Sullivan Bank's most frequently cited loan purpose was Home Purchase, with 416 originations. The 2nd most popular reason was Cash Out Refi, with 137 originations.
For 2022, Sullivan Bank's most frequently cited loan duration was 30 Year, with 238 originations. The 2nd most popular length was 5 Year, with 165 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Sullivan Bank's average total fees were $2,155, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 319 originations.
During 2022, Sullivan Bank's average interest rate for loans was 4.90%, while their most frequently originated rate bucket for loans was 4-5%, with 231 originations.
2022 saw Sullivan Bank place emphasis on $100k-200k loans with 232 originations, totaling $32,770,000 in origination value.
Sullivan Bank lent most frequently to those with incomes in the $100k-150k range, with 85 originations. The second most popular income band? $50k-75k, with 78 originations.
Applicant Debt to Income Ratio
Sullivan Bank lent most frequently to those with DTI ratios of 20-30%, with 72 originations. The next most common DTI ratio? 30-36%, with 60 originations.
Approval RatesTotal approvals of all applications
Sullivan Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick RateApprovals leading to origination
Sullivan Bank has an average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|
|Bank Name||Product||Issue||2022 CPFB Complaints||% of Total Issues|
|Shellpoint Partners, LLC||Conventional home mortgage||Applying for a mortgage or refinancing an existing mortgage||2||6.5%|
|Shellpoint Partners, LLC||Conventional home mortgage||Struggling to pay mortgage||8||25.8%|
|Shellpoint Partners, LLC||Conventional home mortgage||Trouble during payment process||15||48.4%|
|Shellpoint Partners, LLC||FHA mortgage||Improper use of your report||1||3.2%|
|Shellpoint Partners, LLC||FHA mortgage||Trouble during payment process||2||6.5%|
|Shellpoint Partners, LLC||Reverse mortgage||Applying for a mortgage or refinancing an existing mortgage||1||3.2%|
|Shellpoint Partners, LLC||VA mortgage||Incorrect information on your report||1||3.2%|
|Shellpoint Partners, LLC||VA mortgage||Trouble during payment process||1||3.2%|