State Bank Of Southwest Missouri Mortgage Rates, Fees & Info

Springfield, MO

LEI: 549300V8T6PR1YOM6967

Tax ID: 43-1381292

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    State Bank Of Southwest Missouri is a smaller bank specializing in Home Purchase and Refi 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 a below average pick rate when compared to similar lenders.

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    Originations

    57

    Origination Dollar Volume (All Markets)

    $8,735,000

    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) 51 $7,635,000 $149,706 $0 0.00%
    Outside of Metro Areas 6 $1,100,000 $183,333 $0 0.00%
    State Bank Of Southwest Missouri's top markets include and Springfield among others.

    Their top states include:
  • Missouri (FHA|USDA|VA)
  • (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 57 $8,735,000 $153,246 $0 0.00%

    For 2019, State Bank Of Southwest Missouri's most frequently originated type of loan was Conventional, with 57 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 38 $6,310,000 $166,053 $0 0.00%
    Refi 14 $2,200,000 $157,143 $0 0.00%
    Other 3 $135,000 $45,000 $0 0.00%
    Home Improvement 2 $90,000 $45,000 $0 0.00%

    For 2019, State Bank Of Southwest Missouri's most frequently cited loan purpose was Home Purchase, with 38 originations. The 2nd most popular reason was Refi, with 14 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 57 $8,735,000 $153,246 $0 0.00%

    For 2019, State Bank Of Southwest Missouri's most frequently cited loan duration was Other, with 57 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 25 $1,535,000 $61,400 $0 0.00%
    $100k-200k 21 $3,085,000 $146,905 $0 0.00%
    $200k-400k 7 $2,135,000 $305,000 $0 0.00%
    $400k-600k 4 $1,980,000 $495,000 $0 0.00%

    2019 saw State Bank Of Southwest Missouri place emphasis on $100,000 or less loans with 25 originations, totaling $1,535,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 15 $3,295,000 $219,667 $0 0.00%
    $100k-150k 8 $710,000 $88,750 $0 0.00%
    $150k-250k 5 $965,000 $193,000 $0 0.00%
    $50k-75k 5 $485,000 $97,000 $0 0.00%
    $75k-100k 4 $1,000,000 $250,000 $0 0.00%
    $50k or less 2 $70,000 $35,000 $0 0.00%

    State Bank Of Southwest Missouri lent most frequently to those with incomes in the $250k+ range, with 15 originations. The second most popular income band? $100k-150k, with 8 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 57 $8,735,000 $153,246 $0 0.00%

    State Bank Of Southwest Missouri lent most frequently to those with DTI ratios of Exempt%, with 57 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 35 $5,885,000 $168,143 $0 0.00%
    Not applicable 18 $2,210,000 $122,778 $0 0.00%
    American Indian 4 $640,000 $160,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    98.68%

    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
    68.42%

    State Bank Of Southwest Missouri 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
    Exempt 57 $8,735,000 $153,246

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $215,000 $215,000
    Single Family (1-4 Units):Manufactured 2 $80,000 $40,000
    Single Family (1-4 Units):Site-Built 54 $8,440,000 $156,296

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    STATE FARM BANK, FSB Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 16.7%
    STATE FARM BANK, FSB Conventional home mortgage Problem with a credit reporting company's investigation into an existing problem 1 8.3%
    STATE FARM BANK, FSB Conventional home mortgage Struggling to pay mortgage 1 8.3%
    STATE FARM BANK, FSB Conventional home mortgage Trouble during payment process 5 41.7%
    STATE FARM BANK, FSB Home equity loan or line of credit (HELOC) Trouble during payment process 2 16.7%
    STATE FARM BANK, FSB VA mortgage Trouble during payment process 1 8.3%