Southeast Mortgage Of Georgia Rates, Fees & Info

DULUTH, GA

LEI: 549300SK3VKN3E1SZ562

Tax ID: 58-2059073

1.7 stars - out of 5 stars, based on 61 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Southeast Mortgage Of Georgia is a small mortgage company specializing in Home Purchase loans. Southeast Mortgage Of Georgia has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Atlanta, Pensacola, Gainesville, Daphne, and Jefferson among others. Southeast Mortgage Of Georgia has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Southeast Mortgage Of Georgia is typically a high fee lendor.


Originations

3,718

Origination Dollar Volume (All Markets)

$1,064,110,000

Relative Rate

Southeast Mortgage Of Georgia 's average 30 year fixed rate mortgage of loans were 3.28%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.13%.

Relative Fees

Southeast Mortgage Of Georgia 's average total fees for a 30 year fixed rate mortgage are $7,661.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2,959 $860,985,000 $290,972 $7,744 3.23%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 181 $45,835,000 $253,232 $5,778 3.21%
Outside of Metro Areas 84 $26,380,000 $314,048 $6,820 3.37%
GAINESVILLE, GA (FHA|USDA|VA) 84 $24,690,000 $293,929 $7,632 3.25%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 53 $13,325,000 $251,415 $4,872 3.19%
Jefferson, GA (FHA|USDA|VA) 47 $13,105,000 $278,830 $7,234 3.20%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 50 $12,960,000 $259,200 $7,012 3.30%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 25 $8,205,000 $328,200 $8,351 3.55%
WARNER ROBINS, GA (FHA|USDA|VA) 29 $5,575,000 $192,241 $6,401 3.27%
SAVANNAH, GA (FHA|USDA|VA) 18 $4,920,000 $273,333 $6,314 3.20%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 3 $4,355,000 $1,451,667 $7,743 3.42%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 8 $3,810,000 $476,250 $7,769 3.28%
MACON-BIBB COUNTY, GA (FHA|USDA|VA) 12 $2,650,000 $220,833 $7,231 3.39%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 12 $2,520,000 $210,000 $7,431 3.61%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 11 $2,485,000 $225,909 $6,592 3.32%
Cedartown, GA (FHA|USDA|VA) 9 $2,175,000 $241,667 $5,729 3.39%
PANAMA CITY, FL (FHA|USDA|VA) 8 $2,030,000 $253,750 $5,380 3.05%
BRUNSWICK, GA (FHA|USDA|VA) 5 $1,955,000 $391,000 $6,065 2.85%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 7 $1,625,000 $232,143 $5,857 3.14%
ROME, GA (FHA|USDA|VA) 7 $1,395,000 $199,286 $5,549 3.48%
LaGrange, GA-AL (FHA|USDA|VA) 8 $1,330,000 $166,250 $5,492 3.03%
Alexander City, AL (FHA|USDA|VA) 8 $1,260,000 $157,500 $5,055 3.08%
JACKSONVILLE, FL (FHA|USDA|VA) 4 $1,190,000 $297,500 $4,317 3.09%
Cornelia, GA (FHA|USDA|VA) 5 $1,115,000 $223,000 $7,393 3.33%
Statesboro, GA (FHA|USDA|VA) 4 $1,060,000 $265,000 $6,350 3.69%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 3 $985,000 $328,333 $4,087 2.88%
CLEVELAND, TN (FHA|USDA|VA) 2 $840,000 $420,000 $6,959 3.69%
Toccoa, GA (FHA|USDA|VA) 4 $820,000 $205,000 $6,535 3.28%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $810,000 $405,000 $8,545 3.38%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 3 $755,000 $251,667 $10,341 3.50%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 3 $715,000 $238,333 $2,565 3.21%
TALLAHASSEE, FL (FHA|USDA|VA) 2 $660,000 $330,000 $7,654 3.31%
COLUMBIA, SC (FHA|USDA|VA) 3 $645,000 $215,000 $8,790 2.83%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 2 $590,000 $295,000 $6,056 3.31%
Calhoun, GA (FHA|USDA|VA) 3 $575,000 $191,667 $6,064 3.29%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 3 $565,000 $188,333 $5,004 2.88%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 2 $530,000 $265,000 $7,377 3.56%
VALDOSTA, GA (FHA|USDA|VA) 3 $525,000 $175,000 $7,281 3.04%
Thomaston, GA (FHA|USDA|VA) 3 $475,000 $158,333 $6,039 3.29%
DALTON, GA (FHA|USDA|VA) 2 $430,000 $215,000 $7,287 3.56%
HUNTSVILLE, AL (FHA|USDA|VA) 2 $410,000 $205,000 $4,658 2.75%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $405,000 $405,000 $3,606 3.50%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $405,000 $405,000 $7,309 3.38%
Cordele, GA (FHA|USDA|VA) 1 $395,000 $395,000 $7,058 2.50%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $365,000 $365,000 $8,123 3.25%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $365,000 $365,000 $14,221 3.25%
Atmore, AL (FHA|USDA|VA) 2 $340,000 $170,000 $4,604 3.50%
JACKSON, MS (FHA|USDA|VA) 2 $340,000 $170,000 $4,046 3.06%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $335,000 $335,000 $6,188 3.13%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $285,000 $285,000 $9,117 3.38%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $255,000 $255,000 $4,319 3.13%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $245,000 $245,000 $4,226 2.63%
GAINESVILLE, FL (FHA|USDA|VA) 1 $245,000 $245,000 $3,925 3.38%
MOBILE, AL (FHA|USDA|VA) 2 $230,000 $115,000 $4,669 4.06%
Moultrie, GA (FHA|USDA|VA) 1 $225,000 $225,000 $4,943 3.13%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $215,000 $215,000 $5,029 3.38%
COLUMBUS, GA-AL (FHA|USDA|VA) 1 $205,000 $205,000 $5,467 3.00%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 2 $200,000 $100,000 $2,584 4.38%
Milledgeville, GA (FHA|USDA|VA) 1 $195,000 $195,000 $5,063 2.75%
ROCKY MOUNT, NC (FHA|USDA|VA) 1 $175,000 $175,000 $7,136 3.75%
HATTIESBURG, MS (FHA|USDA|VA) 1 $175,000 $175,000 $3,156 2.75%
GADSDEN, AL (FHA|USDA|VA) 1 $145,000 $145,000 $5,175 3.63%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $145,000 $145,000 $2,622 4.13%
FAYETTEVILLE, NC (FHA|USDA|VA) 1 $135,000 $135,000 $3,346 5.00%
SUMTER, SC (FHA|USDA|VA) 1 $135,000 $135,000 $4,596 3.63%
Eufaula, AL-GA (FHA|USDA|VA) 1 $135,000 $135,000 $3,512 2.88%
Seneca, SC (FHA|USDA|VA) 1 $125,000 $125,000 $3,059 2.88%
ANNISTON-OXFORD, AL (FHA|USDA|VA) 1 $115,000 $115,000 $3,967 3.38%
Meridian, MS (FHA|USDA|VA) 1 $95,000 $95,000 $5,534 2.75%
Greenwood, SC (FHA|USDA|VA) 1 $85,000 $85,000 $933 3.88%
Cullman, AL (FHA|USDA|VA) 1 $65,000 $65,000 $3,030 3.13%
Newberry, SC (FHA|USDA|VA) 1 $65,000 $65,000 $3,426 3.13%

Southeast Mortgage Of Georgia 's top markets include Atlanta, Pensacola, Gainesville, Daphne, and Jefferson among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 2,446 $715,410,000 $292,482 $6,090 3.32%
FHA 955 $250,315,000 $262,110 $10,908 3.12%
VA 262 $86,660,000 $330,763 $7,861 3.02%
USDA 55 $11,725,000 $213,182 $7,014 3.03%

For the 2021 period, Southeast Mortgage Of Georgia 's most frequently originated loan type of loans were Conventional, with 2,446 originations. Their 2nd most popular type is FHA, with 955 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 2,769 $813,825,000 $293,906 $8,017 3.27%
Refi 774 $209,090,000 $270,142 $5,842 3.14%
Cash Out Refi 172 $40,420,000 $235,000 $5,940 3.18%
Home Improvement 2 $500,000 $250,000 $7,664 2.94%
Other 1 $275,000 $275,000 $6,110 3.25%

For the 2021, Southeast Mortgage Of Georgia 's most frequently cited loan purpose of loans were Home Purchase, with 2,769 originations. The 2nd most popular reason of loans were Refi, with 774 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 3,447 $1,001,045,000 $290,411 $7,661 3.28%
15 Year 181 $42,305,000 $233,729 $5,040 2.65%
20 Year 51 $12,475,000 $244,608 $5,113 2.98%
Other 27 $5,805,000 $215,000 $4,926 3.26%
10 Year 12 $2,480,000 $206,667 $4,711 2.60%

For the 2021, Southeast Mortgage Of Georgia 's most frequently cited loan length of loans were 30 Year, with 3,447 originations. The 2nd most popular length of loans were 15 Year, with 181 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$3k-4k 1,784 $491,810,000 $275,678
$2k-3k 672 $123,270,000 $183,438
$5k+ 603 $261,945,000 $434,403
$1k-2k 406 $111,580,000 $274,828
$<1k 242 $72,330,000 $298,884

$7,661 of loans were Southeast Mortgage Of Georgia 's average total fees, while their most frequently occuring range of origination fees were in the $3k-4k bucket, with 1,784 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 2,247 $656,185,000 $292,027
2.5-3% 1,071 $303,155,000 $283,058
<2.5% 234 $61,450,000 $262,607
4-5% 155 $36,985,000 $238,613
5-6% 6 $3,050,000 $508,333
6-7% 4 $3,060,000 $765,000

During 2021, Southeast Mortgage Of Georgia 's average interest rate of loans were 3.28%, while their most frequently originated rate bucket of loans were 3-4%, with 2,247 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 2,225 $630,265,000 $283,265 $7,895 3.23%
$100k-200k 860 $137,440,000 $159,814 $5,340 3.24%
$400k-600k 502 $235,610,000 $469,343 $9,125 3.24%
$100,000 or less 66 $5,610,000 $85,000 $3,871 3.42%
$600k-1MM 55 $40,895,000 $743,545 $11,794 3.42%
$1MM+ 10 $14,290,000 $1,429,000 $12,704 3.79%

2021 saw Southeast Mortgage Of Georgia place emphasis on $200k-400k loans with 2,225 originations, totaling $630,265,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 996 $242,350,000 $243,323 $7,736 3.23%
$75k-100k 751 $217,055,000 $289,021 $7,720 3.23%
$100k-150k 735 $239,105,000 $325,313 $7,681 3.27%
$50k or less 710 $140,510,000 $197,901 $6,552 3.20%
$150k-250k 404 $159,080,000 $393,762 $7,430 3.26%
$250k+ 122 $66,010,000 $541,066 $7,974 3.42%

Southeast Mortgage Of Georgia lent most frequently to those with incomes in the $50k-75k range, with 996 originations. The second most popular income band? $75k-100k, with 751 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
30-36% 642 $184,940,000 $288,069 $6,952 3.25%
20-30% 632 $183,250,000 $289,953 $6,310 3.16%
50-60% 313 $89,155,000 $284,840 $11,604 3.12%
<20% 181 $56,425,000 $311,740 $6,138 3.19%
44% 178 $51,430,000 $288,933 $7,410 3.38%
43% 169 $43,385,000 $256,716 $6,869 3.31%
42% 154 $46,590,000 $302,532 $7,422 3.33%
41% 153 $43,415,000 $283,758 $6,816 3.34%
49% 146 $40,960,000 $280,548 $8,029 3.34%
45% 142 $39,850,000 $280,634 $8,444 3.23%
38% 131 $36,105,000 $275,611 $7,414 3.25%
47% 130 $36,200,000 $278,462 $8,367 3.23%
39% 127 $33,875,000 $266,732 $6,922 3.24%
48% 123 $36,045,000 $293,049 $8,280 3.24%
37% 123 $34,145,000 $277,602 $7,130 3.34%
40% 122 $36,500,000 $299,180 $7,397 3.31%
36% 111 $32,215,000 $290,225 $6,736 3.29%
46% 100 $28,130,000 $281,300 $8,212 3.24%
>60% 10 $3,400,000 $340,000 $6,763 3.44%

Southeast Mortgage Of Georgia lent most frequently to those with DTI ratios of 30-36%, with 642 originations. The next most common DTI ratio? 20-30%, with 632 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,852 $538,270,000 $290,643 $6,585 3.21%
Black 1,572 $435,730,000 $277,182 $8,478 3.26%
Not provided 176 $51,010,000 $289,830 $7,970 3.24%
Asian 110 $37,080,000 $337,091 $7,302 3.35%
American Indian 4 $920,000 $230,000 $7,133 3.16%
Native Hawaiian 3 $855,000 $285,000 $3,241 3.25%
Other Asian 1 $245,000 $245,000 $6,169 4.50%

Approval Rates

Total approvals of all applications
97.69%

Southeast Mortgage Of Georgia 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
58.56%

Southeast Mortgage Of Georgia has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

Points and Fees

Points Originations Total Value Average Loan
NA 3,718 $1,064,110,000 $286,205

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
3,718 $1,064,110,000 $286,205

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 66 $9,630,000 $145,909 $4,151 3.05%
40-60% 254 $58,250,000 $229,331 $5,045 3.04%
60-80% 982 $285,670,000 $290,906 $6,132 3.30%
80-100% 2,354 $688,710,000 $292,570 $8,207 3.25%
Over 100% 60 $21,610,000 $360,167 $14,357 3.03%
Under 20% 2 $240,000 $120,000 $2,931 1.69%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
SOUTHEAST MORTGAGE OF GA INC FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%