Southern Bank Mortgage Rates, Fees & Info

Waynesboro, GA

LEI: 549300MQKEHKJXUWM405

Tax ID: 58-0512180

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Southern Bank is a smaller bank specializing in Refi and Home Purchase loans. Southern Bank has a high proportion of conventional loans. Their top markets by origination volume include: Augusta, Statesboro, Cordele, and Atlanta among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Southern 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.

    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

    76

    Origination Dollar Volume (All Markets)

    $3,600,000

    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
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 61 $2,825,000 $46,311 $0 0.00%
    Outside of Metro Areas 11 $605,000 $55,000 $0 0.00%
    Statesboro, GA (FHA|USDA|VA) 2 $110,000 $55,000 $0 0.00%
    Cordele, GA (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $15,000 $15,000 $0 0.00%
    Southern Bank's top markets include Augusta, Statesboro, Cordele, and Atlanta among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 76 $3,600,000 $47,368 $0 0.00%

    For 2018, Southern Bank's most frequently originated type of loan was Conventional, with 76 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 34 $1,520,000 $44,706 $0 0.00%
    Home Purchase 22 $1,210,000 $55,000 $0 0.00%
    Cash Out Refi 15 $715,000 $47,667 $0 0.00%
    Home Improvement 5 $155,000 $31,000 $0 0.00%

    For 2018, Southern Bank's most frequently cited loan purpose was Refi, with 34 originations. The 2nd most popular reason was Home Purchase, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 76 $3,600,000 $47,368 $0 0.00%

    For 2018, Southern Bank's most frequently cited loan duration was Other, with 76 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 70 $2,790,000 $39,857 $0 0.00%
    $100k-200k 6 $810,000 $135,000 $0 0.00%

    2018 saw Southern Bank place emphasis on $100,000 or less loans with 70 originations, totaling $2,790,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 27 $1,075,000 $39,815 $0 0.00%
    $100k-150k 12 $840,000 $70,000 $0 0.00%
    $75k-100k 12 $580,000 $48,333 $0 0.00%
    $50k-75k 10 $280,000 $28,000 $0 0.00%
    $250k+ 4 $190,000 $47,500 $0 0.00%
    $150k-250k 3 $155,000 $51,667 $0 0.00%

    Southern Bank lent most frequently to those with incomes in the $50k or less range, with 27 originations. The second most popular income band? $100k-150k, with 12 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 76 $3,600,000 $47,368 $0 0.00%

    Southern Bank lent most frequently to those with DTI ratios of Exempt%, with 76 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 52 $2,410,000 $46,346 $0 0.00%
    Black 15 $715,000 $47,667 $0 0.00%
    Not applicable 7 $345,000 $49,286 $0 0.00%
    Native Hawaiian or Islander 1 $85,000 $85,000 $0 0.00%
    Asian 1 $45,000 $45,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    86.96%

    Southern Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    94.74%

    Southern Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 76 $3,600,000 $47,368

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $145,000 $145,000
    Single Family (1-4 Units):Manufactured 34 $1,300,000 $38,235
    Single Family (1-4 Units):Site-Built 41 $2,155,000 $52,561

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Southern Star Capital, L.L.C. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%