Sumner Bank & Trust Mortgage Rates, Fees & Info

Gallatin, TN

LEI: 549300OCVGP1PT322B56

Tax ID: 20-1007064

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
  • 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

    Sumner Bank & Trust is a smaller bank specializing in Home Purchase loans. Sumner Bank & Trust has a high proportion of conventional loans. Their top two markets are Nashville and Clarksville .

    Sumner Bank & Trust has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Sumner Bank & Trust 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

    57

    Origination Dollar Volume (All Markets)

    $12,205,000

    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
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 53 $11,685,000 $220,472 $2,136 5.41%
    CLARKSVILLE, TN-KY (FHA|USDA|VA) 4 $520,000 $130,000 $0 5.15%
    Sumner Bank & Trust's top markets include Nashville and Clarksville among others.

    Their top states include:
  • Tennessee (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 57 $12,205,000 $214,123 $2,136 5.39%

    For 2018, Sumner Bank & Trust's most frequently originated type of loan was Conventional, with 57 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 37 $8,355,000 $225,811 $1,843 5.42%
    Other 8 $1,220,000 $152,500 $1,803 5.37%
    Cash Out Refi 8 $2,210,000 $276,250 $4,161 5.26%
    Home Improvement 2 $70,000 $35,000 $878 5.52%
    Refi 2 $350,000 $175,000 $0 5.38%

    For 2018, Sumner Bank & Trust's most frequently cited loan purpose was Home Purchase, with 37 originations. The 2nd most popular reason was Other, with 8 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    5 Year 22 $4,480,000 $203,636 $277 5.35%
    1 Year 13 $2,355,000 $181,154 $4,803 5.69%
    Other 10 $2,650,000 $265,000 $2,503 5.31%
    10 Year 9 $2,125,000 $236,111 $1,485 5.28%
    15 Year 2 $230,000 $115,000 $1,640 4.88%
    30 Year 1 $365,000 $365,000 $1,188 5.40%

    For 2018, Sumner Bank & Trust's most frequently cited loan duration was 5 Year, with 22 originations. The 2nd most popular length was 1 Year, with 13 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 16 $1,980,000 $123,750
    $1k-2k 3 $405,000 $135,000
    $2k-3k 1 $235,000 $235,000
    $4k-5k 1 $665,000 $665,000
    $5k+ 1 $525,000 $525,000

    Sumner Bank & Trust's average total fees were $1,188, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 16 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 41 $8,095,000 $197,439
    4-5% 13 $3,805,000 $292,692
    6-7% 3 $305,000 $101,667

    During 2018, Sumner Bank & Trust's average interest rate for loans was 5.40%, while their most frequently originated rate bucket for loans was 5-6%, with 41 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 29 $4,215,000 $145,345 $1,834 5.49%
    $100,000 or less 12 $700,000 $58,333 $1,161 5.36%
    $200k-400k 9 $2,535,000 $281,667 $2,329 5.25%
    $400k-600k 4 $1,900,000 $475,000 $7,835 5.19%
    $600k-1MM 2 $1,400,000 $700,000 $4,830 5.45%
    $1MM+ 1 $1,455,000 $1,455,000 $0 5.00%

    2018 saw Sumner Bank & Trust place emphasis on $100k-200k loans with 29 originations, totaling $4,215,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 10 $2,770,000 $277,000 $3,343 5.43%
    $250k+ 9 $1,565,000 $173,889 $1,841 5.43%
    $150k-250k 7 $3,035,000 $433,571 $1,754 5.42%
    $50k or less 6 $460,000 $76,667 $1,794 5.06%
    $50k-75k 4 $390,000 $97,500 $1,737 5.82%
    $75k-100k 2 $130,000 $65,000 $988 5.25%

    Sumner Bank & Trust lent most frequently to those with incomes in the $100k-150k range, with 10 originations. The second most popular income band? $250k+, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 10 $1,130,000 $113,000 $1,338 5.17%
    20-30% 6 $700,000 $116,667 $1,766 5.20%
    30-36% 4 $1,430,000 $357,500 $1,902 5.12%
    37% 2 $900,000 $450,000 $5,910 5.37%
    38% 2 $250,000 $125,000 $637 5.64%
    44% 1 $525,000 $525,000 $7,835 5.00%
    39% 1 $15,000 $15,000 $987 6.10%
    36% 1 $105,000 $105,000 $1,771 6.00%

    Sumner Bank & Trust lent most frequently to those with DTI ratios of <20%, with 10 originations. The next most common DTI ratio? 20-30%, with 6 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 34 $7,980,000 $234,706 $2,310 5.42%
    Not applicable 19 $3,855,000 $202,895 $0 5.37%
    Black 3 $265,000 $88,333 $917 5.08%
    Asian 1 $105,000 $105,000 $0 5.75%

    Approval Rates

    Total approvals of all applications
    92.41%

    Sumner Bank & Trust has an average approval rate.

    Pick Rate

    Approvals leading to origination
    75.44%

    Sumner Bank & Trust has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 57 $12,205,000 $214,123

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $525,000 $525,000
    Multifamily:Site-Built 2 $1,880,000 $940,000
    Single Family (1-4 Units):Manufactured 4 $380,000 $95,000
    Single Family (1-4 Units):Site-Built 50 $9,420,000 $188,400

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 7 $835,000 $119,286 $1,349 5.28%
    40-60% 7 $1,175,000 $167,857 $3,443 5.40%
    60-80% 25 $6,445,000 $257,800 $2,077 5.49%
    80-100% 13 $3,515,000 $270,385 $4,087 5.31%
    Under 20% 5 $235,000 $47,000 $807 5.26%