Southern First Bank Mortgage Rates, Fees & Info
GREENVILLE, SCLEI: 549300PP6R8WIOP60124
Tax ID: 56-2184826
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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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 12/16/24 |
| 30 Year Conventional Purchase | 6.39% | 12/16/24 |
| 30 Year Conventional Refi | 6.36% | 12/16/24 |
| 30 Year Cash-out Refi | 6.51% | 12/16/24 |
| 30 Year FHA Purchase | 7.33% | 12/16/24 |
| 30 Year FHA Refi | 6.27% | 12/16/24 |
| 30 Year VA Purchase | 6.45% | 12/16/24 |
| 30 Year VA Refi | 6.01% | 12/16/24 |
| 30 Year USDA Purchase | 6.27% | 12/16/24 |
| 15 Year Conventional Purchase | 6.09% | 12/16/24 |
| 15 Year Conventional Refi | 6.05% | 12/16/24 |
| 15 Year Cash-out Refi | 6.05% | 12/16/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,144Origination Dollar Volume (All Markets)
$421,580,000Awards
Southern First Bank - 2023
Southern First Bank is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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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% |
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.
Similarity Rank: 80
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Product Mix
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
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
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
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
2023 saw Southern First Bank place emphasis on $200k-400k loans with 553 originations, totaling $158,145,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications92.76%
Southern First Bank has an average approval rate.
Pick Rate
Approvals leading to origination80.42%
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 |