Peoplessouth Bank Mortgage Rates, Fees & Info

Colquitt, GA

LEI: 549300RZCM5T73BZEI76

Tax ID: 58-1171935

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

Jump to:

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.

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% 7/11/24
15 Year Conventional Purchase 5.68% 7/11/24
15 Year Conventional Refi 5.68% 7/11/24
15 Year Cash-out Refi 5.68% 7/11/24
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






Your Estimates

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

This is not an official calculator from Peoplessouth 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

347

Origination Dollar Volume (All Markets)

$58,685,000

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
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%
Peoplessouth Bank's top markets include Panama City, Dothan, Albany, Crestview, and Tallahassee among others.

Their top states include:
  • Florida (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • 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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 121 $24,295,000 $200,785 $3,900 8.39%
    Home Purchase 97 $16,715,000 $172,320 $2,116 8.43%
    Refi 59 $9,425,000 $159,746 $460 8.08%
    Home Improvement 30 $3,820,000 $127,333 $590 8.15%
    Cash Out Refi 28 $2,390,000 $85,357 $846 7.86%
    NA 12 $2,040,000 $170,000 $0 8.64%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 114 $17,010,000 $149,211 $932 7.96%
    15 Year 105 $14,005,000 $133,381 $0 8.25%
    1 Year 59 $15,185,000 $257,373 $7,589 8.66%
    3 Year 46 $7,050,000 $153,261 $250 8.57%
    20 Year 10 $1,400,000 $140,000 $0 8.58%
    5 Year 9 $3,795,000 $421,667 $917 8.28%
    10 Year 4 $240,000 $60,000 $0 9.06%

    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

    Loan Rate Originations Total Value Average Loan
    Over 8% 219 $37,685,000 $172,078
    7-8% 109 $18,385,000 $168,670
    6-7% 9 $1,105,000 $122,778
    4-5% 2 $650,000 $325,000
    <2.5% 1 $155,000 $155,000
    5-6% 1 $55,000 $55,000

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 201 $10,615,000 $52,811 $860 8.26%
    $100k-200k 64 $9,000,000 $140,625 $719 8.24%
    $200k-400k 53 $14,455,000 $272,736 $2,138 8.47%
    $400k-600k 14 $7,380,000 $527,143 $6,367 8.15%
    $600k-1MM 9 $6,715,000 $746,111 $0 8.74%
    $1MM+ 6 $10,520,000 $1,753,333 $21,844 8.08%

    2023 saw Peoplessouth Bank place emphasis on $100,000 or less loans with 201 originations, totaling $10,615,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 87 $12,075,000 $138,793 $1,741 7.97%
    $100k-150k 40 $6,270,000 $156,750 $6,863 8.44%
    $150k-250k 28 $3,210,000 $114,643 $1,715 8.19%
    $250k+ 26 $5,390,000 $207,308 $0 8.48%
    $75k-100k 24 $2,490,000 $103,750 $496 8.27%
    $50k-75k 21 $3,285,000 $156,429 $627 7.88%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 45 $5,505,000 $122,333 $1,419 8.09%
    30-36% 29 $2,755,000 $95,000 $712 7.81%
    20-30% 26 $2,890,000 $111,154 $542 7.58%
    >60% 11 $2,095,000 $190,455 $0 8.22%
    37% 9 $1,395,000 $155,000 $4,286 8.35%
    40% 9 $1,405,000 $156,111 $788 8.21%
    50-60% 9 $1,905,000 $211,667 $250 7.88%
    43% 6 $440,000 $73,333 $882 8.09%
    38% 6 $1,290,000 $215,000 $11,743 8.36%
    42% 6 $650,000 $108,333 $543 7.79%
    36% 5 $315,000 $63,000 $0 8.80%
    45% 5 $915,000 $183,000 $0 8.53%
    39% 3 $745,000 $248,333 $1,840 8.58%
    41% 3 $205,000 $68,333 $996 7.68%
    48% 2 $350,000 $175,000 $0 8.75%
    46% 1 $25,000 $25,000 $905 7.60%
    49% 1 $55,000 $55,000 $0 8.50%
    44% 1 $35,000 $35,000 $1,049 7.60%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 240 $35,340,000 $147,250 $1,847 8.19%
    Not applicable 76 $19,180,000 $252,368 $0 8.65%
    Asian 9 $1,975,000 $219,444 $3,195 7.95%
    Black 19 $1,735,000 $91,316 $861 8.34%
    Asian Indian 1 $305,000 $305,000 $0 8.25%
    American Indian 1 $95,000 $95,000 $0 7.34%
    Not provided 1 $55,000 $55,000 $0 7.75%

    Approval Rates

    Total approvals of all applications
    95.47%

    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 origination
    97.12%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    347 $58,685,000 $169,121

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 80 $8,450,000 $105,625 $980 8.05%
    40-60% 63 $8,075,000 $128,175 $415 8.34%
    60-80% 108 $27,370,000 $253,426 $3,953 8.37%
    80-100% 40 $10,570,000 $264,250 $646 8.37%
    Over 100% 4 $1,120,000 $280,000 $1,243 8.62%
    Under 20% 49 $2,725,000 $55,612 $1,194 8.31%