State Bank Of Southwest Missouri Mortgage Rates, Fees & Info

Springfield, MO

LEI: 549300V8T6PR1YOM6967

Tax ID: 43-1381292

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Mortgage Data

Review & Overview

State Bank Of Southwest Missouri is a smaller bank specializing in Home Purchase loans. State Bank Of Southwest Missouri has a high proportion of conventional loans. Their top (well, only) market is Springfield.

State Bank Of Southwest Missouri 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.

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Originations

84

Origination Dollar Volume (All Markets)

$27,010,000

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
SPRINGFIELD, MO (FHA|USDA|VA) 69 $22,695,000 $328,913 $0 0.00%
Outside of Metro Areas 15 $4,315,000 $287,667 $0 0.00%
State Bank Of Southwest Missouri's top markets include and Springfield among others.

Their top states include:
  • Missouri (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 84 $27,010,000 $321,548 $0 0.00%

    For 2023, State Bank Of Southwest Missouri's most frequently originated type of loan was Conventional, with 84 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 65 $23,125,000 $355,769 $0 0.00%
    Other 10 $1,750,000 $175,000 $0 0.00%
    Refi 7 $1,965,000 $280,714 $0 0.00%
    Home Improvement 2 $170,000 $85,000 $0 0.00%

    For 2023, State Bank Of Southwest Missouri's most frequently cited loan purpose was Home Purchase, with 65 originations. The 2nd most popular reason was Other, with 10 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 84 $27,010,000 $321,548 $0 0.00%

    For 2023, State Bank Of Southwest Missouri's most frequently cited loan duration was Other, with 84 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 30 $4,380,000 $146,000 $0 0.00%
    $200k-400k 20 $5,900,000 $295,000 $0 0.00%
    $100,000 or less 15 $915,000 $61,000 $0 0.00%
    $600k-1MM 8 $5,760,000 $720,000 $0 0.00%
    $400k-600k 7 $3,435,000 $490,714 $0 0.00%
    $1MM+ 4 $6,620,000 $1,655,000 $0 0.00%

    2023 saw State Bank Of Southwest Missouri place emphasis on $100k-200k loans with 30 originations, totaling $4,380,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 22 $14,890,000 $676,818 $0 0.00%
    $100k-150k 9 $1,975,000 $219,444 $0 0.00%
    $150k-250k 8 $2,080,000 $260,000 $0 0.00%
    $50k-75k 8 $1,330,000 $166,250 $0 0.00%
    $75k-100k 5 $975,000 $195,000 $0 0.00%
    $50k or less 4 $240,000 $60,000 $0 0.00%

    State Bank Of Southwest Missouri lent most frequently to those with incomes in the $250k+ range, with 22 originations. The second most popular income band? $100k-150k, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 84 $27,010,000 $321,548 $0 0.00%

    State Bank Of Southwest Missouri lent most frequently to those with DTI ratios of Exempt%, with 84 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 48 $17,490,000 $364,375 $0 0.00%
    Not applicable 28 $5,520,000 $197,143 $0 0.00%
    Not provided 5 $2,965,000 $593,000 $0 0.00%
    Asian 2 $740,000 $370,000 $0 0.00%
    Black 1 $295,000 $295,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    100.00%

    State Bank Of Southwest Missouri 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
    91.67%

    State Bank Of Southwest Missouri has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 84 $27,010,000 $321,548

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    84 $27,010,000 $321,548