Southern First Bank Mortgage Rates, Fees & Info

GREENVILLE, SC

LEI: 549300PP6R8WIOP60124

Tax ID: 56-2184826

5 stars - Updated: 11/30/23 - out of 5 stars, based on 45 reviews

Latest/2022 | 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.) Their top markets by origination volume include: Greenville, Atlanta, Charleston, Spartanburg, and Charlotte among others. We have data for 67 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 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 about average 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% 11/30/23
30 Year Conventional Purchase 6.39% 11/30/23
30 Year Conventional Refi 6.36% 11/30/23
30 Year Cash-out Refi 6.51% 11/30/23
30 Year FHA Purchase 7.33% 11/30/23
30 Year FHA Refi 6.27% 11/30/23
30 Year VA Purchase 6.45% 11/30/23
30 Year VA Refi 6.01% 11/30/23
30 Year USDA Purchase 6.27% 11/30/23
15 Year Conventional Purchase 6.09% 11/30/23
15 Year Conventional Refi 6.05% 11/30/23
15 Year Cash-out Refi 6.05% 11/30/23
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

1,998

Origination Dollar Volume (All Markets)

$841,760,000
Show all (14) awards

Relative Rate

Southern First Bank's average 30 year fixed mortgage rate was 4.69%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of -0.07%.

Relative Fees (Closing Costs)

Southern First Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $4,399.

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 $4,750.

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) 995 $365,985,000 $367,824 $4,278 4.63%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 202 $112,430,000 $556,584 $5,295 4.72%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 226 $102,830,000 $455,000 $4,777 4.75%
SPARTANBURG, SC (FHA|USDA|VA) 77 $28,225,000 $366,558 $4,828 4.45%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 49 $24,525,000 $500,510 $4,823 4.74%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 68 $23,430,000 $344,559 $3,358 4.47%
COLUMBIA, SC (FHA|USDA|VA) 61 $21,125,000 $346,311 $3,678 4.53%
RALEIGH-CARY, NC (FHA|USDA|VA) 48 $19,040,000 $396,667 $2,744 4.64%
Seneca, SC (FHA|USDA|VA) 28 $15,900,000 $567,857 $4,250 4.85%
WINSTON-SALEM, NC (FHA|USDA|VA) 34 $14,670,000 $431,471 $3,572 4.70%
Cullowhee, NC (FHA|USDA|VA) 6 $10,750,000 $1,791,667 $6,300 4.28%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 2 $10,310,000 $5,155,000 $0 5.00%
Outside of Metro Areas 26 $9,930,000 $381,923 $4,457 4.66%
ASHEVILLE, NC (FHA|USDA|VA) 14 $6,850,000 $489,286 $3,391 4.88%
Brevard, NC (FHA|USDA|VA) 5 $6,195,000 $1,239,000 $4,813 4.40%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 16 $6,160,000 $385,000 $3,294 5.09%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 10 $6,000,000 $600,000 $5,917 4.91%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 18 $5,830,000 $323,889 $3,701 4.70%
WILMINGTON, NC (FHA|USDA|VA) 8 $4,290,000 $536,250 $4,530 4.48%
Georgetown, SC (FHA|USDA|VA) 8 $3,530,000 $441,250 $4,550 4.18%
Morehead City, NC (FHA|USDA|VA) 6 $3,450,000 $575,000 $3,846 5.04%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $3,090,000 $1,545,000 $10,578 3.50%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 4 $2,670,000 $667,500 $9,112 4.28%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $2,570,000 $1,285,000 $8,959 4.00%
Boone, NC (FHA|USDA|VA) 5 $2,435,000 $487,000 $3,060 5.13%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 7 $2,415,000 $345,000 $4,093 4.55%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $2,335,000 $2,335,000 $16,382 4.25%
Milledgeville, GA (FHA|USDA|VA) 18 $2,290,000 $127,222 $3,168 5.31%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 3 $2,145,000 $715,000 $5,894 4.13%
Sevierville, TN (FHA|USDA|VA) 2 $2,070,000 $1,035,000 $10,815 3.74%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $2,005,000 $2,005,000 $0 5.25%
GAINESVILLE, GA (FHA|USDA|VA) 1 $1,135,000 $1,135,000 $0 3.75%
BRUNSWICK, GA (FHA|USDA|VA) 2 $910,000 $455,000 $0 4.00%
Gaffney, SC (FHA|USDA|VA) 2 $780,000 $390,000 $2,713 5.63%
Roanoke Rapids, NC (FHA|USDA|VA) 2 $760,000 $380,000 $6,087 4.28%
JACKSONVILLE, NC (FHA|USDA|VA) 1 $745,000 $745,000 $7,740 3.50%
KNOXVILLE, TN (FHA|USDA|VA) 2 $710,000 $355,000 $2,362 3.75%
Kinston, NC (FHA|USDA|VA) 1 $705,000 $705,000 $0 4.25%
Newberry, SC (FHA|USDA|VA) 2 $630,000 $315,000 $1,289 5.18%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 2 $630,000 $315,000 $0 6.00%
Henderson, NC (FHA|USDA|VA) 1 $615,000 $615,000 $3,051 4.00%
LaGrange, GA-AL (FHA|USDA|VA) 1 $555,000 $555,000 $0 3.50%
Greenwood, SC (FHA|USDA|VA) 2 $550,000 $275,000 $3,272 5.13%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $545,000 $545,000 $3,720 3.25%
SUMTER, SC (FHA|USDA|VA) 1 $505,000 $505,000 $7,352 3.80%
BURLINGTON, NC (FHA|USDA|VA) 2 $480,000 $240,000 $5,139 4.88%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $475,000 $475,000 $5,533 3.54%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $405,000 $405,000 $0 4.00%
SAVANNAH, GA (FHA|USDA|VA) 1 $405,000 $405,000 $6,699 4.25%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $365,000 $365,000 $3,978 4.38%
Jefferson, GA (FHA|USDA|VA) 1 $355,000 $355,000 $2,895 2.38%
Orangeburg, SC (FHA|USDA|VA) 3 $335,000 $111,667 $0 6.00%
MONROE, LA (FHA|USDA|VA) 1 $335,000 $335,000 $3,064 5.13%
Kill Devil Hills, NC (FHA|USDA|VA) 1 $335,000 $335,000 $0 6.25%
Washington, NC (FHA|USDA|VA) 1 $335,000 $335,000 $0 4.35%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $335,000 $335,000 $3,035 5.50%
Shelby, NC (FHA|USDA|VA) 1 $285,000 $285,000 $2,157 3.75%
Mount Airy, NC (FHA|USDA|VA) 1 $265,000 $265,000 $0 5.50%
FAYETTEVILLE, NC (FHA|USDA|VA) 1 $265,000 $265,000 $3,075 3.90%
LYNCHBURG, VA (FHA|USDA|VA) 1 $255,000 $255,000 $2,676 5.90%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $225,000 $225,000 $1,205 3.75%
ROCKY MOUNT, NC (FHA|USDA|VA) 1 $215,000 $215,000 $0 6.50%
MORRISTOWN, TN (FHA|USDA|VA) 1 $215,000 $215,000 $2,000 2.75%
ROANOKE, VA (FHA|USDA|VA) 1 $195,000 $195,000 $0 4.95%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $165,000 $165,000 $0 3.75%
Statesboro, GA (FHA|USDA|VA) 1 $145,000 $145,000 $0 6.00%
FLORENCE, SC (FHA|USDA|VA) 1 $115,000 $115,000 $0 4.85%
Southern First Bank's top markets include Greenville, Atlanta, Charleston, Spartanburg, and Charlotte 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.

    S. C. STATE FEDERAL CREDIT UNION
    Similarity Rank: 456
    Barley Mortgage, LLC
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    Credence Funding Corporation
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    CAROLINA FOOTHILLS
    Similarity Rank: 605
    Security Federal Bank
    Similarity Rank: 616
    Community First Bank, Inc.
    Similarity Rank: 728
    CAROLINA TRUST FEDERAL CREDIT UNION
    Similarity Rank: 1050
    AMERICAN HOME MORTGAGE, INC.
    Similarity Rank: 1131
    Piedmont Federal Savings Bank
    Similarity Rank: 1200

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,386 $689,650,000 $497,583 $4,305 4.57%
    HELOC 572 $139,500,000 $243,881 n/a 4.84%
    FHA 27 $7,395,000 $273,889 $8,448 5.16%
    VA 13 $5,215,000 $401,154 $4,312 4.61%

    For 2022, Southern First Bank's most frequently originated type of loan was Conventional, with 1,386 originations. Their 2nd most popular type was HELOC, with 572 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,072 $539,640,000 $503,396 $4,662 4.74%
    Refi 335 $151,615,000 $452,582 $3,775 4.34%
    Other 301 $76,065,000 $252,708 $2,774 4.68%
    Home Improvement 236 $52,580,000 $222,797 $2,456 4.86%
    Cash Out Refi 54 $21,860,000 $404,815 $3,848 3.80%

    For 2022, Southern First Bank's most frequently cited loan purpose was Home Purchase, with 1,072 originations. The 2nd most popular reason was Refi, with 335 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 745 $300,515,000 $403,376 $4,399 4.69%
    15 Year 606 $183,050,000 $302,063 $4,650 4.70%
    Other 294 $155,950,000 $530,442 $4,466 4.58%
    10 Year 222 $139,700,000 $629,279 $4,167 4.61%
    5 Year 77 $30,815,000 $400,195 $1,848 4.78%
    30+ year 26 $20,570,000 $791,154 $5,574 3.87%
    20 Year 20 $7,930,000 $396,500 $3,645 3.84%
    1 Year 4 $1,040,000 $260,000 $0 5.00%
    3 Year 4 $2,190,000 $547,500 $0 4.71%

    For 2022, Southern First Bank's most frequently cited loan duration was 30 Year, with 745 originations. The 2nd most popular length was 15 Year, with 606 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 542 $212,020,000 $391,181
    $<1k 269 $150,905,000 $560,985
    $2k-3k 126 $62,170,000 $493,413
    $5k+ 56 $51,710,000 $923,393
    $3k-4k 50 $30,370,000 $607,400
    $4k-5k 37 $23,545,000 $636,351

    Southern First Bank's average total fees were $4,399, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 542 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 744 $346,740,000 $466,048
    4-5% 483 $238,175,000 $493,116
    5-6% 454 $163,400,000 $359,912
    6-7% 233 $66,225,000 $284,227
    7-8% 31 $8,925,000 $287,903
    2.5-3% 29 $12,295,000 $423,966
    <2.5% 24 $6,000,000 $250,000

    During 2022, Southern First Bank's average interest rate for loans was 4.69%, while their most frequently originated rate bucket for loans was 3-4%, with 744 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 711 $198,625,000 $279,360 $3,802 4.79%
    $100k-200k 404 $59,290,000 $146,757 $2,915 4.72%
    $400k-600k 316 $151,870,000 $480,601 $4,340 4.57%
    $600k-1MM 235 $174,615,000 $743,043 $5,512 4.43%
    $100,000 or less 186 $11,460,000 $61,613 $1,644 4.78%
    $1MM+ 146 $245,900,000 $1,684,247 $7,943 4.20%

    2022 saw Southern First Bank place emphasis on $200k-400k loans with 711 originations, totaling $198,625,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 583 $350,875,000 $601,844 $5,623 4.58%
    $150k-250k 381 $146,595,000 $384,764 $4,360 4.68%
    $100k-150k 303 $87,365,000 $288,333 $4,023 4.71%
    $75k-100k 186 $45,950,000 $247,043 $3,960 4.81%
    $50k-75k 177 $38,175,000 $215,678 $3,744 4.97%
    $50k or less 82 $14,730,000 $179,634 $2,778 3.88%

    Southern First Bank lent most frequently to those with incomes in the $250k+ range, with 583 originations. The second most popular income band? $150k-250k, with 381 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 525 $193,135,000 $367,876 $4,197 4.66%
    <20% 417 $178,985,000 $429,221 $4,522 4.53%
    30-36% 331 $129,185,000 $390,287 $4,225 4.58%
    39% 62 $29,650,000 $478,226 $4,357 4.97%
    36% 44 $16,550,000 $376,136 $4,286 4.57%
    38% 40 $15,700,000 $392,500 $4,758 4.54%
    44% 38 $12,620,000 $332,105 $4,753 4.80%
    43% 37 $16,085,000 $434,730 $5,579 4.56%
    40% 35 $12,805,000 $365,857 $4,087 5.03%
    42% 34 $15,490,000 $455,588 $5,989 5.07%
    41% 32 $12,650,000 $395,313 $4,201 4.58%
    37% 28 $10,150,000 $362,500 $3,767 4.56%
    49% 24 $10,750,000 $447,917 $3,906 5.03%
    50-60% 23 $12,175,000 $529,348 $6,560 5.34%
    46% 19 $6,225,000 $327,632 $4,698 4.97%
    45% 16 $4,740,000 $296,250 $3,674 4.90%
    48% 14 $4,370,000 $312,143 $3,675 4.86%
    >60% 10 $5,810,000 $581,000 $4,321 5.11%
    47% 6 $2,650,000 $441,667 $5,457 5.06%

    Southern First Bank lent most frequently to those with DTI ratios of 20-30%, with 525 originations. The next most common DTI ratio? <20%, with 417 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,457 $584,875,000 $401,424 $4,418 4.67%
    Not applicable 259 $150,565,000 $581,332 $0 4.65%
    Not provided 160 $59,550,000 $372,188 $4,567 4.57%
    Black 71 $25,315,000 $356,549 $3,983 4.60%
    Asian 36 $15,090,000 $419,167 $4,229 4.47%
    American Indian 7 $2,195,000 $313,571 $4,073 4.79%
    Vietnamese 1 $1,755,000 $1,755,000 $13,277 3.85%
    Asian Indian 2 $1,130,000 $565,000 $3,766 3.38%
    Other Pacific Islander 2 $640,000 $320,000 $5,388 3.93%
    Native Hawaiian or Islander 2 $520,000 $260,000 $3,152 4.94%
    Other Asian 1 $125,000 $125,000 $0 4.00%

    Approval Rates

    Total approvals of all applications
    98.35%

    Southern First Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    86.99%

    Southern First Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 1 $595,000 $595,000
    NA 1,997 $841,165,000 $421,214

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,998 $841,760,000 $421,301

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 308 $85,350,000 $277,110 $3,272 4.84%
    40-60% 235 $134,045,000 $570,404 $4,594 4.42%
    60-80% 559 $301,465,000 $539,293 $4,564 4.58%
    80-100% 621 $280,285,000 $451,345 $4,524 4.68%
    Over 100% 5 $1,105,000 $221,000 $4,715 2.84%
    Under 20% 270 $39,510,000 $146,333 $1,851 4.79%