Sullivan Bank Mortgage Rates, Fees & Info

Sullivan, MO

LEI: 549300MK77IBUMJBI791

Tax ID: 43-0170310

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Sullivan 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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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

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Sullivan 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

    667

    Origination Dollar Volume (All Markets)

    $189,395,000
    Show all (5) awards

    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) 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%
    Sullivan Bank's top markets include St. Louis, Springfield, Branson, Napa, and Joplin among others.

    Their top states include:
  • Missouri (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)

    • 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.

    D.W. BROWN MORTGAGE CORP.
    Similarity Rank: 59
    Ozarks Federal Savings and Loan Association
    Similarity Rank: 126
    First National Bank of Waterloo
    Similarity Rank: 216
    Gateway Metro Federal Credit Union
    Similarity Rank: 240
    The Bank of Missouri
    Similarity Rank: 329
    MORTGAGE SOLUTIONS LLC
    Similarity Rank: 368
    United Bank of Union
    Similarity Rank: 450
    JERSEY STATE BANK
    Similarity Rank: 452
    Bank of Washington
    Similarity Rank: 728
    ALLTRU Federal Credit Union
    Similarity Rank: 764

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 653 $186,905,000 $286,225 $1,833 5.05%
    USDA 11 $1,885,000 $171,364 $4,466 4.77%
    FHA 3 $605,000 $201,667 $6,191 6.13%

    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.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 416 $126,630,000 $304,399 $2,468 5.10%
    Cash Out Refi 137 $42,135,000 $307,555 $1,454 4.98%
    Refi 101 $19,195,000 $190,050 $1,193 4.93%
    Other 10 $1,310,000 $131,000 $1,439 4.95%
    Home Improvement 3 $125,000 $41,667 $711 5.82%

    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.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 238 $59,170,000 $248,613 $2,155 4.90%
    5 Year 165 $79,375,000 $481,061 $896 5.20%
    20 Year 99 $14,215,000 $143,586 $2,047 5.24%
    Other 53 $14,765,000 $278,585 $1,156 5.00%
    15 Year 36 $5,190,000 $144,167 $1,686 4.38%
    1 Year 35 $10,075,000 $287,857 $2,952 5.07%
    3 Year 21 $5,085,000 $242,143 $205 5.16%
    10 Year 20 $1,520,000 $76,000 $932 5.88%

    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
    $<1k 319 $65,935,000 $206,693
    $1k-2k 5 $895,000 $179,000

    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.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 231 $94,005,000 $406,948
    5-6% 199 $41,345,000 $207,764
    3-4% 120 $29,560,000 $246,333
    6-7% 81 $18,895,000 $233,272
    7-8% 21 $3,175,000 $151,190
    2.5-3% 7 $1,385,000 $197,857
    Over 8% 5 $385,000 $77,000
    <2.5% 3 $645,000 $215,000

    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.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 232 $32,770,000 $141,250 $1,941 4.99%
    $100,000 or less 168 $10,710,000 $63,750 $1,266 5.37%
    $200k-400k 156 $42,480,000 $272,308 $2,207 4.86%
    $400k-600k 52 $25,250,000 $485,577 $2,558 5.14%
    $600k-1MM 40 $29,420,000 $735,500 $2,831 4.77%
    $1MM+ 19 $48,765,000 $2,566,579 $7,494 4.86%

    2022 saw Sullivan Bank place emphasis on $100k-200k loans with 232 originations, totaling $32,770,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 85 $20,255,000 $238,294 $1,949 4.88%
    $50k-75k 78 $10,830,000 $138,846 $1,993 4.92%
    $50k or less 74 $7,870,000 $106,351 $1,587 5.11%
    $75k-100k 66 $11,560,000 $175,152 $2,067 4.83%
    $150k-250k 45 $13,705,000 $304,556 $2,284 5.13%
    $250k+ 19 $10,405,000 $547,632 $2,431 4.33%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 72 $13,710,000 $190,417 $1,811 4.83%
    30-36% 60 $13,970,000 $232,833 $2,220 5.12%
    <20% 35 $5,575,000 $159,286 $1,834 4.14%
    50-60% 22 $5,120,000 $232,727 $1,707 5.78%
    >60% 16 $3,520,000 $220,000 $1,215 5.10%
    43% 16 $4,230,000 $264,375 $2,914 5.04%
    37% 15 $2,915,000 $194,333 $1,748 4.48%
    41% 15 $2,565,000 $171,000 $1,768 4.78%
    42% 11 $2,165,000 $196,818 $2,052 5.08%
    38% 10 $1,990,000 $199,000 $1,813 4.32%
    36% 10 $1,740,000 $174,000 $2,454 4.65%
    44% 9 $2,335,000 $259,444 $2,437 5.60%
    45% 6 $1,060,000 $176,667 $1,498 5.78%
    40% 6 $1,450,000 $241,667 $2,096 4.70%
    39% 5 $515,000 $103,000 $1,755 4.95%
    48% 4 $1,400,000 $350,000 $2,394 4.88%
    47% 3 $545,000 $181,667 $2,439 4.54%
    46% 3 $295,000 $98,333 $1,955 5.25%
    49% 1 $495,000 $495,000 $3,189 3.63%

    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.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 292 $112,960,000 $386,849 $2,532 5.20%
    White 358 $72,350,000 $202,095 $1,956 4.93%
    Not provided 9 $2,045,000 $227,222 $2,458 5.14%
    Asian 4 $990,000 $247,500 $1,630 5.51%
    Native Hawaiian or Islander 1 $645,000 $645,000 $2,208 2.88%
    Black 1 $205,000 $205,000 $1,902 5.13%
    American Indian 1 $135,000 $135,000 $450 5.50%
    Other Asian 1 $65,000 $65,000 $1,923 4.30%

    Approval Rates

    Total approvals of all applications
    98.20%

    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 origination
    93.40%

    Sullivan Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 667 $189,395,000 $283,951

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    667 $189,395,000 $283,951

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 55 $14,675,000 $266,818 $1,446 4.97%
    40-60% 83 $19,065,000 $229,699 $1,738 4.79%
    60-80% 220 $64,490,000 $293,136 $1,923 5.07%
    80-100% 279 $88,775,000 $318,190 $2,327 5.06%
    Over 100% 4 $690,000 $172,500 $3,652 5.09%
    Under 20% 26 $1,700,000 $65,385 $1,095 5.85%

    Complaints

    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%