Southern First Bank Mortgage Rates, Fees & Info

GREENVILLE, SC

LEI: 549300PP6R8WIOP60124

Tax ID: 56-2184826

5 stars - Updated: 6/9/24 - out of 5 stars, based on 34 reviews

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

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Mortgage Data

Review & Overview

Southern First Bank is a smaller bank specializing in Home Purchase loans. Southern First Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Greenville, Charleston, Atlanta, Charlotte, and Spartanburg among others. We have data for 42 markets. (Some data included below & more in-depth data is available with an active subscription.)

Southern First Bank 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. Southern First Bank is typically an average 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.

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

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.27% 6/9/24
30 Year Conventional Purchase 6.39% 6/9/24
30 Year Conventional Refi 6.36% 6/9/24
30 Year Cash-out Refi 6.51% 6/9/24
30 Year FHA Purchase 7.33% 6/9/24
30 Year FHA Refi 6.27% 6/9/24
30 Year VA Purchase 6.45% 6/9/24
30 Year VA Refi 6.01% 6/9/24
30 Year USDA Purchase 6.27% 6/9/24
15 Year Conventional Purchase 6.09% 6/9/24
15 Year Conventional Refi 6.05% 6/9/24
15 Year Cash-out Refi 6.05% 6/9/24
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.

Southern First Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from Southern First 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

1,144

Origination Dollar Volume (All Markets)

$421,580,000
Show all (6) awards

Relative Rate

Southern First Bank's average 30 year fixed mortgage rate was 6.65%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.17%.

Relative Fees (Closing Costs)

Southern First Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $5,060.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 608 $197,270,000 $324,457 $4,594 6.88%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 121 $57,555,000 $475,661 $5,301 7.08%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 114 $50,110,000 $439,561 $6,106 7.02%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 38 $29,730,000 $782,368 $5,740 6.93%
SPARTANBURG, SC (FHA|USDA|VA) 60 $14,850,000 $247,500 $4,475 6.91%
COLUMBIA, SC (FHA|USDA|VA) 49 $11,125,000 $227,041 $4,123 7.29%
Outside of Metro Areas 18 $8,360,000 $464,444 $4,471 7.25%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 20 $6,680,000 $334,000 $3,303 7.05%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 6 $5,720,000 $953,333 $2,726 6.88%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 18 $4,830,000 $268,333 $2,641 7.60%
Seneca, SC (FHA|USDA|VA) 11 $4,195,000 $381,364 $4,291 7.08%
RALEIGH-CARY, NC (FHA|USDA|VA) 14 $4,140,000 $295,714 $2,587 7.41%
ASHEVILLE, NC (FHA|USDA|VA) 5 $3,295,000 $659,000 $13,512 7.45%
WINSTON-SALEM, NC (FHA|USDA|VA) 12 $2,730,000 $227,500 $3,818 7.57%
Morehead City, NC (FHA|USDA|VA) 4 $1,740,000 $435,000 $2,274 7.25%
Georgetown, SC (FHA|USDA|VA) 8 $1,610,000 $201,250 $4,092 6.28%
PANAMA CITY, FL (FHA|USDA|VA) 1 $1,605,000 $1,605,000 $0 8.00%
Boone, NC (FHA|USDA|VA) 4 $1,580,000 $395,000 $6,439 7.09%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 2 $1,380,000 $690,000 $6,582 6.99%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 3 $1,375,000 $458,333 $4,696 7.00%
SAVANNAH, GA (FHA|USDA|VA) 2 $1,290,000 $645,000 $3,970 6.25%
Sevierville, TN (FHA|USDA|VA) 2 $1,270,000 $635,000 $3,162 6.76%
GAINESVILLE, GA (FHA|USDA|VA) 1 $1,255,000 $1,255,000 $5,432 6.50%
RICHMOND, VA (FHA|USDA|VA) 1 $1,245,000 $1,245,000 $9,041 7.75%
JACKSONVILLE, FL (FHA|USDA|VA) 3 $945,000 $315,000 $8,184 6.92%
Cullowhee, NC (FHA|USDA|VA) 2 $760,000 $380,000 $0 7.93%
Brevard, NC (FHA|USDA|VA) 1 $755,000 $755,000 $0 7.75%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $525,000 $525,000 $2,728 6.38%
Orangeburg, SC (FHA|USDA|VA) 2 $520,000 $260,000 $3,455 7.25%
Newberry, SC (FHA|USDA|VA) 1 $405,000 $405,000 $5,922 6.63%
Gaffney, SC (FHA|USDA|VA) 1 $405,000 $405,000 $4,390 6.38%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 1 $355,000 $355,000 $0 8.25%
Jefferson, GA (FHA|USDA|VA) 1 $305,000 $305,000 $3,638 6.63%
Greenwood, SC (FHA|USDA|VA) 1 $305,000 $305,000 $3,596 8.50%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $275,000 $275,000 $2,076 6.25%
ROCKY MOUNT, NC (FHA|USDA|VA) 1 $215,000 $215,000 $7,336 5.50%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 1 $205,000 $205,000 $2,694 7.13%
Shelby, NC (FHA|USDA|VA) 1 $155,000 $155,000 $0 7.75%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $155,000 $155,000 $0 8.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $135,000 $135,000 $3,943 7.38%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 1 $135,000 $135,000 $4,378 7.13%
Vidalia, GA (FHA|USDA|VA) 1 $85,000 $85,000 $4,679 6.88%
Southern First Bank's top markets include Greenville, Charleston, Atlanta, Charlotte, and Spartanburg among others.

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

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

    SAFE FEDERAL CREDIT UNION
    Similarity Rank: 80
    SCIENT Federal Credit Union
    Similarity Rank: 110
    Community First Bank, Inc.
    Similarity Rank: 135
    Security Federal Bank
    Similarity Rank: 150
    GREENVILLE FEDERAL CREDIT UNION
    Similarity Rank: 376
    Barley Mortgage, LLC
    Similarity Rank: 420
    LGE COMMUNITY
    Similarity Rank: 546
    SHELTER LENDING SERVICES, L.L.C.
    Similarity Rank: 588

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 819 $336,795,000 $411,227 $4,257 6.69%
    HELOC 255 $63,715,000 $249,863 n/a 8.03%
    FHA 55 $15,795,000 $287,182 $10,269 6.57%
    VA 11 $4,385,000 $398,636 $12,608 6.53%
    USDA 4 $890,000 $222,500 $5,809 6.38%

    For 2023, Southern First Bank's most frequently originated type of loan was Conventional, with 819 originations. Their 2nd most popular type was HELOC, with 255 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 811 $337,265,000 $415,863 $4,950 6.68%
    Home Improvement 132 $25,280,000 $191,515 $1,653 7.92%
    Other 118 $32,140,000 $272,373 $3,121 7.82%
    Refi 57 $20,625,000 $361,842 $2,669 7.39%
    Cash Out Refi 26 $6,270,000 $241,154 $4,865 6.99%

    For 2023, Southern First Bank's most frequently cited loan purpose was Home Purchase, with 811 originations. The 2nd most popular reason was Home Improvement, with 132 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 680 $238,350,000 $350,515 $5,060 6.65%
    15 Year 220 $56,430,000 $256,500 $4,695 7.82%
    Other 128 $71,290,000 $556,953 $3,417 6.77%
    10 Year 64 $23,660,000 $369,688 $2,649 7.56%
    5 Year 37 $26,095,000 $705,270 $2,315 7.59%
    20 Year 7 $1,755,000 $250,714 $3,952 6.80%
    1 Year 3 $1,535,000 $511,667 $4,686 8.08%
    30+ year 3 $955,000 $318,333 $2,251 7.73%
    3 Year 2 $1,510,000 $755,000 $6,417 8.63%

    For 2023, Southern First Bank's most frequently cited loan duration was 30 Year, with 680 originations. The 2nd most popular length was 15 Year, with 220 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 479 $172,385,000 $359,885
    $<1k 115 $65,815,000 $572,304
    $2k-3k 69 $23,365,000 $338,623
    $5k+ 50 $20,460,000 $409,200
    $3k-4k 47 $15,065,000 $320,532
    $4k-5k 29 $10,775,000 $371,552

    Southern First Bank's average total fees were $5,060, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 479 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 591 $250,595,000 $424,019
    7-8% 308 $93,950,000 $305,032
    Over 8% 143 $40,105,000 $280,455
    5-6% 93 $35,165,000 $378,118
    <2.5% 9 $1,765,000 $196,111

    During 2023, Southern First Bank's average interest rate for loans was 6.65%, while their most frequently originated rate bucket for loans was 6-7%, with 591 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 553 $158,145,000 $285,976 $4,783 6.80%
    $100k-200k 208 $30,600,000 $147,115 $3,501 7.28%
    $400k-600k 157 $74,715,000 $475,892 $5,559 6.93%
    $100,000 or less 94 $5,670,000 $60,319 $2,141 7.63%
    $600k-1MM 80 $59,640,000 $745,500 $5,313 6.77%
    $1MM+ 52 $92,810,000 $1,784,808 $6,073 7.03%

    2023 saw Southern First Bank place emphasis on $200k-400k loans with 553 originations, totaling $158,145,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 243 $142,525,000 $586,523 $4,738 7.35%
    $100k-150k 240 $69,750,000 $290,625 $5,279 6.97%
    $150k-250k 225 $78,385,000 $348,378 $4,858 7.15%
    $75k-100k 185 $49,175,000 $265,811 $4,925 6.73%
    $50k-75k 127 $27,735,000 $218,386 $4,522 6.67%
    $50k or less 50 $8,590,000 $171,800 $3,351 5.50%

    Southern First Bank lent most frequently to those with incomes in the $250k+ range, with 243 originations. The second most popular income band? $100k-150k, with 240 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 236 $78,020,000 $330,593 $4,360 7.16%
    30-36% 175 $55,965,000 $319,800 $4,510 6.71%
    <20% 171 $74,785,000 $437,339 $4,361 7.29%
    42% 54 $18,130,000 $335,741 $4,640 6.86%
    44% 47 $13,255,000 $282,021 $5,121 6.85%
    36% 44 $14,730,000 $334,773 $4,438 6.87%
    40% 42 $16,640,000 $396,190 $5,017 6.67%
    41% 41 $13,495,000 $329,146 $4,242 6.83%
    39% 35 $12,305,000 $351,571 $4,222 6.79%
    43% 34 $10,640,000 $312,941 $4,992 6.99%
    50-60% 33 $11,005,000 $333,485 $9,031 6.54%
    37% 31 $11,065,000 $356,935 $4,260 6.74%
    38% 30 $9,640,000 $321,333 $4,563 6.97%
    45% 26 $9,480,000 $364,615 $5,289 6.78%
    49% 19 $6,125,000 $322,368 $6,700 6.70%
    46% 17 $7,005,000 $412,059 $4,587 6.94%
    48% 15 $5,865,000 $391,000 $5,155 6.84%
    47% 15 $5,535,000 $369,000 $6,250 6.69%
    >60% 7 $2,985,000 $426,429 $3,162 6.96%

    Southern First Bank lent most frequently to those with DTI ratios of 20-30%, with 236 originations. The next most common DTI ratio? 30-36%, with 175 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 863 $308,085,000 $356,993 $4,665 7.03%
    Not applicable 64 $43,910,000 $686,094 $0 7.39%
    Not provided 100 $36,360,000 $363,600 $5,090 6.77%
    Black 85 $23,555,000 $277,118 $5,186 6.50%
    Asian 20 $6,610,000 $330,500 $6,107 6.69%
    American Indian 9 $1,625,000 $180,556 $3,829 7.14%
    Asian Indian 1 $795,000 $795,000 $3,859 6.50%
    Native Hawaiian or Islander 1 $435,000 $435,000 $12,529 6.25%
    Other Asian 1 $205,000 $205,000 $10,120 5.38%

    Approval Rates

    Total approvals of all applications
    92.76%

    Southern First Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.42%

    Southern First Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,144 $421,580,000 $368,514

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,144 $421,580,000 $368,514

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 142 $35,900,000 $252,817 $3,253 7.53%
    40-60% 119 $67,705,000 $568,950 $4,411 7.05%
    60-80% 260 $120,270,000 $462,577 $4,573 6.76%
    80-100% 481 $175,575,000 $365,021 $5,055 6.68%
    Over 100% 7 $4,655,000 $665,000 $17,006 6.38%
    Under 20% 135 $17,475,000 $129,444 $1,249 7.87%