Southern Bank Mortgage Rates, Fees & Info
Waynesboro, GALEI: 549300MQKEHKJXUWM405
Tax ID: 58-0512180
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Mortgage Data
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, Cordele, and Statesboro among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Southern 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.
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Originations
66Origination Dollar Volume (All Markets)
$4,610,000Top 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) | 55 | $3,825,000 | $69,545 | $0 | 0.00% |
| Outside of Metro Areas | 9 | $675,000 | $75,000 | $0 | 0.00% |
| Cordele, GA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
| Statesboro, GA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 66 | $4,610,000 | $69,848 | $0 | 0.00% |
For 2019, Southern Bank's most frequently originated type of loan was Conventional, with 66 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 40 | $2,900,000 | $72,500 | $0 | 0.00% |
| Home Purchase | 25 | $1,695,000 | $67,800 | $0 | 0.00% |
| Home Improvement | 1 | $15,000 | $15,000 | $0 | 0.00% |
For 2019, Southern Bank's most frequently cited loan purpose was Refi, with 40 originations. The 2nd most popular reason was Home Purchase, with 25 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 66 | $4,610,000 | $69,848 | $0 | 0.00% |
For 2019, Southern Bank's most frequently cited loan duration was Other, with 66 originations.
Loan Sizing
2019 saw Southern Bank place emphasis on $100,000 or less loans with 54 originations, totaling $2,480,000 in origination value.
Applicant Income
Southern Bank lent most frequently to those with incomes in the $50k or less range, with 19 originations. The second most popular income band? $50k-75k, with 15 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 66 | $4,610,000 | $69,848 | $0 | 0.00% |
Southern Bank lent most frequently to those with DTI ratios of Exempt%, with 66 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 47 | $3,055,000 | $65,000 | $0 | 0.00% |
| Black | 12 | $880,000 | $73,333 | $0 | 0.00% |
| Not applicable | 7 | $675,000 | $96,429 | $0 | 0.00% |
Approval Rates
Total approvals of all applications94.74%
Southern Bank has an average approval rate.
Pick Rate
Approvals leading to origination90.91%
Southern Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 66 | $4,610,000 | $69,848 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| SOUTHERN TRUST MORTGAGE LLC | Conventional home mortgage | Closing on a mortgage | 1 | 50.0% |
| SOUTHERN TRUST MORTGAGE LLC | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |