Peoplessouth Bank Mortgage Rates, Fees & Info
Colquitt, GALEI: 549300RZCM5T73BZEI76
Tax ID: 58-1171935
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Mortgage Data
Review & Overview
Peoplessouth Bank is a smaller bank specializing in Other and Home Purchase loans. Peoplessouth Bank has a high proportion of conventional loans. Their top markets by origination volume include: Panama City, Dothan, Albany, Crestview, and Tallahassee among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)Peoplessouth 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.
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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 4/21/24 |
| 15 Year Conventional Purchase | 5.68% | 4/21/24 |
| 15 Year Conventional Refi | 5.68% | 4/21/24 |
| 15 Year Cash-out Refi | 5.68% | 4/21/24 |
| 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. | ||
Peoplessouth Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
347Origination Dollar Volume (All Markets)
$58,685,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 82 | $15,110,000 | $184,268 | $906 | 7.96% |
| PANAMA CITY, FL (FHA|USDA|VA) | 27 | $12,845,000 | $475,741 | $17,164 | 8.75% |
| DOTHAN, AL (FHA|USDA|VA) | 100 | $10,170,000 | $101,700 | $777 | 8.28% |
| ALBANY, GA (FHA|USDA|VA) | 38 | $6,610,000 | $173,947 | $1,840 | 8.20% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 5 | $4,075,000 | $815,000 | $0 | 8.50% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 24 | $3,590,000 | $149,583 | $3,670 | 8.60% |
| Ozark, AL (FHA|USDA|VA) | 24 | $1,830,000 | $76,250 | $961 | 8.50% |
| Eufaula, AL-GA (FHA|USDA|VA) | 15 | $1,655,000 | $110,333 | $607 | 8.62% |
| Bainbridge, GA (FHA|USDA|VA) | 12 | $900,000 | $75,000 | $996 | 8.28% |
| LaGrange, GA-AL (FHA|USDA|VA) | 3 | $595,000 | $198,333 | $0 | 9.00% |
| Enterprise, AL (FHA|USDA|VA) | 5 | $375,000 | $75,000 | $1,000 | 8.63% |
| COLUMBUS, GA-AL (FHA|USDA|VA) | 3 | $335,000 | $111,667 | $0 | 8.08% |
| MOBILE, AL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 7.50% |
| Americus, GA (FHA|USDA|VA) | 4 | $160,000 | $40,000 | $8 | 8.38% |
| AUBURN-OPELIKA, AL (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $0 | 8.25% |
| Troy, AL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 7.05% |
| Moultrie, GA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 7.50% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 246 | $45,070,000 | $183,211 | $1,788 | 8.31% |
| HELOC | 101 | $13,615,000 | $134,802 | n/a | 8.23% |
For 2023, Peoplessouth Bank's most frequently originated type of loan was Conventional, with 246 originations. Their 2nd most popular type was HELOC, with 101 originations.
Loan Reason
For 2023, Peoplessouth Bank's most frequently cited loan purpose was Other, with 121 originations. The 2nd most popular reason was Home Purchase, with 97 originations.
Loan Duration/Length
For 2023, Peoplessouth Bank's most frequently cited loan duration was Other, with 114 originations. The 2nd most popular length was 15 Year, with 105 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 20 | $2,440,000 | $122,000 |
Peoplessouth Bank's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 20 originations.
Interest Rates
During 2023, Peoplessouth Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 219 originations.
Loan Sizing
2023 saw Peoplessouth Bank place emphasis on $100,000 or less loans with 201 originations, totaling $10,615,000 in origination value.
Applicant Income
Peoplessouth Bank lent most frequently to those with incomes in the $50k or less range, with 87 originations. The second most popular income band? $100k-150k, with 40 originations.
Applicant Debt to Income Ratio
Peoplessouth Bank lent most frequently to those with DTI ratios of <20%, with 45 originations. The next most common DTI ratio? 30-36%, with 29 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.47%
Peoplessouth 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 origination97.12%
Peoplessouth Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 1 | $75,000 | $75,000 |
| NA | 346 | $58,610,000 | $169,393 |