Southwest Georgia Bank Mortgage Rates, Fees & Info

MOULTRIE, GA

LEI: 549300MMHYQYKZ8BBN39

Tax ID: 58-0360940

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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

    Southwest Georgia Bank is a smaller bank specializing in Home Purchase and Refi loans. Southwest Georgia Bank has a high proportion of conventional loans. Their top markets by origination volume include: Valdosta, Tifton, Moultrie, Jacksonville, and Crestview among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Southwest Georgia Bank has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. Southwest Georgia 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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    Originations

    179

    Origination Dollar Volume (All Markets)

    $33,445,000

    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
    VALDOSTA, GA (FHA|USDA|VA) 73 $11,585,000 $158,699 $2,597 5.69%
    Tifton, GA (FHA|USDA|VA) 14 $9,530,000 $680,714 $3,024 5.51%
    Moultrie, GA (FHA|USDA|VA) 58 $6,530,000 $112,586 $2,588 5.75%
    Outside of Metro Areas 15 $1,685,000 $112,333 $3,700 5.72%
    JACKSONVILLE, FL (FHA|USDA|VA) 3 $1,195,000 $398,333 $2,595 5.45%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $730,000 $365,000 $7,882 5.50%
    Thomasville, GA (FHA|USDA|VA) 2 $630,000 $315,000 $7,187 5.95%
    Americus, GA (FHA|USDA|VA) 2 $470,000 $235,000 $4,441 4.95%
    Milledgeville, GA (FHA|USDA|VA) 1 $245,000 $245,000 $3,370 5.50%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $225,000 $225,000 $4,501 4.90%
    ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 1 $205,000 $205,000 $3,562 4.90%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $195,000 $195,000 $5,087 5.38%
    ALBANY, GA (FHA|USDA|VA) 5 $135,000 $27,000 $0 6.95%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $85,000 $85,000 $2,433 5.24%
    Southwest Georgia Bank's top markets include Valdosta, Tifton, Moultrie, Jacksonville, and Crestview among others.

    Their top states include:
  • Georgia (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against SOUTHWEST GEORGIA BANK based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    SOUTHWEST GEORGIA BANK
    Similarity Rank: 168
    State Bank and Trust Company
    Similarity Rank: 498
    Synovus Mortgage Corp
    Similarity Rank: 1023
    Northpointe Bank
    Similarity Rank: 1470
    Home Point Mortgage Acceptance Corporation
    Similarity Rank: 1908
    HOME POINT FINANCIAL CORPORATION
    Similarity Rank: 3894
    ON Q FINANCIAL, INC.
    Similarity Rank: 5346
    Wells Fargo Bank
    Similarity Rank: 5514
    CMG MORTGAGE, INC.
    Similarity Rank: 6672
    NAVY FEDERAL CREDIT UNION
    Similarity Rank: 6992

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 179 $33,445,000 $186,844 $2,893 5.70%

    For 2018, Southwest Georgia Bank's most frequently originated type of loan was Conventional, with 179 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 84 $15,360,000 $182,857 $3,534 5.61%
    Refi 81 $16,945,000 $209,198 $2,145 5.83%
    Home Improvement 10 $740,000 $74,000 $1,546 5.58%
    Other 4 $400,000 $100,000 $2,853 5.51%

    For 2018, Southwest Georgia Bank's most frequently cited loan purpose was Home Purchase, with 84 originations. The 2nd most popular reason was Refi, with 81 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    5 Year 66 $12,400,000 $187,879 $1,654 5.85%
    15 Year 37 $6,255,000 $169,054 $2,862 5.52%
    30 Year 27 $6,765,000 $250,556 $3,343 5.41%
    Other 26 $4,880,000 $187,692 $1,325 6.13%
    1 Year 12 $1,690,000 $140,833 $1,651 5.51%
    10 Year 6 $980,000 $163,333 $2,663 5.13%
    3 Year 5 $475,000 $95,000 $0 5.66%

    For 2018, Southwest Georgia Bank's most frequently cited loan duration was 5 Year, with 66 originations. The 2nd most popular length was 15 Year, with 37 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 38 $5,320,000 $140,000
    $1k-2k 23 $3,705,000 $161,087
    $2k-3k 10 $3,330,000 $333,000
    $3k-4k 3 $1,075,000 $358,333
    $4k-5k 3 $1,425,000 $475,000

    Southwest Georgia Bank's average total fees were $3,343, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 38 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 122 $24,860,000 $203,770
    4-5% 24 $6,290,000 $262,083
    6-7% 21 $1,645,000 $78,333
    7-8% 12 $650,000 $54,167

    During 2018, Southwest Georgia Bank's average interest rate for loans was 5.41%, while their most frequently originated rate bucket for loans was 5-6%, with 122 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 92 $4,850,000 $52,717 $1,726 5.95%
    $100k-200k 43 $6,495,000 $151,047 $2,626 5.50%
    $200k-400k 31 $8,655,000 $279,194 $3,533 5.42%
    $400k-600k 9 $4,255,000 $472,778 $6,095 5.25%
    $1MM+ 3 $8,415,000 $2,805,000 $1,561 5.37%
    $600k-1MM 1 $775,000 $775,000 $0 5.75%

    2018 saw Southwest Georgia Bank place emphasis on $100,000 or less loans with 92 originations, totaling $4,850,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 28 $4,630,000 $165,357 $2,625 5.47%
    $150k-250k 22 $4,460,000 $202,727 $3,661 5.39%
    $50k-75k 21 $1,815,000 $86,429 $2,171 6.00%
    $75k-100k 20 $2,450,000 $122,500 $2,661 5.93%
    $50k or less 19 $1,145,000 $60,263 $2,013 5.83%
    $250k+ 17 $5,145,000 $302,647 $4,540 5.54%

    Southwest Georgia Bank lent most frequently to those with incomes in the $100k-150k range, with 28 originations. The second most popular income band? $150k-250k, with 22 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 27 $5,225,000 $193,519 $2,921 5.60%
    <20% 18 $3,190,000 $177,222 $2,838 5.46%
    30-36% 16 $3,690,000 $230,625 $2,932 5.37%
    36% 5 $945,000 $189,000 $3,060 5.40%
    39% 5 $895,000 $179,000 $2,897 5.28%
    37% 4 $530,000 $132,500 $2,176 5.26%
    38% 2 $380,000 $190,000 $3,686 5.45%

    Southwest Georgia Bank lent most frequently to those with DTI ratios of 20-30%, with 27 originations. The next most common DTI ratio? <20%, with 18 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 112 $17,460,000 $155,893 $2,842 5.63%
    Not applicable 52 $13,800,000 $265,385 $0 5.77%
    Asian 6 $1,220,000 $203,333 $3,192 5.51%
    Asian Indian 1 $515,000 $515,000 $7,187 5.24%
    Black 8 $450,000 $56,250 $1,900 6.52%

    Approval Rates

    Total approvals of all applications
    89.77%

    Southwest Georgia Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    92.18%

    Southwest Georgia Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 179 $33,445,000 $186,844

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 18 $10,640,000 $591,111
    Single Family (1-4 Units):Manufactured 10 $610,000 $61,000
    Single Family (1-4 Units):Site-Built 151 $22,195,000 $146,987

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 16 $1,090,000 $68,125 $1,744 5.60%
    40-60% 31 $3,885,000 $125,323 $2,890 5.58%
    60-80% 74 $17,800,000 $240,541 $3,085 5.81%
    80-100% 43 $10,035,000 $233,372 $3,210 5.66%
    Under 20% 15 $635,000 $42,333 $1,271 5.65%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    SOUTHWEST FUNDING, LP Conventional home mortgage Closing on a mortgage 1 100.0%