Southern Lending Services Ltd. Mortgage Rates, Fees & Info
HOUSTON, TXLEI: 549300W8XIPJGDECVX07
Tax ID: 27-1209306
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Mortgage Data
Review & Overview
Southern Lending Services Ltd. is a smaller mortgage company specializing in Home Purchase loans. Southern Lending Services Ltd. has a high proportion of conventional loans. Their top markets by origination volume include: Austin, San Antonio, Denver, and Boulder among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Southern Lending Services Ltd. 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. Southern Lending Services Ltd. is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.
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 |
|---|---|---|
| 30 Year Conventional Purchase | 6.42% | 12/16/24 |
| 30 Year FHA Purchase | 6.27% | 12/16/24 |
| 30 Year VA Purchase | 5.94% | 12/16/24 |
| 15 Year Conventional Purchase | 6.09% | 12/16/24 |
| 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. | ||
Southern Lending Services Ltd. Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
219Origination Dollar Volume (All Markets)
$113,465,000Awards
SOUTHERN LENDING SERVICES LTD. - 2023
SOUTHERN LENDING SERVICES LTD. is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Southern Lending Services Ltd.'s average 30 year fixed mortgage rate was
5.4%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -1.08%.
Relative Fees (Closing Costs)
Southern Lending Services Ltd.'s average total fees/closing costs for a 30 year fixed rate
mortgage were $5,106.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
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 |
|---|---|---|---|---|---|
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 135 | $73,835,000 | $546,926 | $4,667 | 5.38% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 68 | $31,340,000 | $460,882 | $6,010 | 5.42% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 14 | $6,940,000 | $495,714 | $5,254 | 5.42% |
| BOULDER, CO (FHA|USDA|VA) | 2 | $1,350,000 | $675,000 | $2,953 | 5.49% |
Similar Lenders
We use machine learning to identify the top lenders compared against SOUTHERN LENDING SERVICES LTD. based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 195 | $100,315,000 | $514,436 | $4,775 | 5.40% |
| VA | 24 | $13,150,000 | $547,917 | $7,793 | 5.43% |
For 2023, Southern Lending Services Ltd.'s most frequently originated type of loan was Conventional, with 195 originations. Their 2nd most popular type was VA, with 24 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 219 | $113,465,000 | $518,105 | $5,106 | 5.40% |
For 2023, Southern Lending Services Ltd.'s most frequently cited loan purpose was Home Purchase, with 219 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 216 | $112,480,000 | $520,741 | $5,106 | 5.40% |
| 15 Year | 3 | $985,000 | $328,333 | $5,103 | 5.33% |
For 2023, Southern Lending Services Ltd.'s most frequently cited loan duration was 30 Year, with 216 originations. The 2nd most popular length was 15 Year, with 3 originations.
Origination Fees/Closing Costs
Southern Lending Services Ltd.'s average total fees were $5,106, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 129 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 126 | $62,270,000 | $494,206 |
| 5-6% | 68 | $37,360,000 | $549,412 |
| 6-7% | 18 | $9,730,000 | $540,556 |
| 7-8% | 6 | $3,480,000 | $580,000 |
| Over 8% | 1 | $625,000 | $625,000 |
During 2023, Southern Lending Services Ltd.'s average interest rate for loans was 5.40%, while their most frequently originated rate bucket for loans was 4-5%, with 126 originations.
Loan Sizing
2023 saw Southern Lending Services Ltd. place emphasis on $400k-600k loans with 123 originations, totaling $61,495,000 in origination value.
Applicant Income
Southern Lending Services Ltd. lent most frequently to those with incomes in the $150k-250k range, with 94 originations. The second most popular income band? $250k+, with 63 originations.
Applicant Debt to Income Ratio
Southern Lending Services Ltd. lent most frequently to those with DTI ratios of 30-36%, with 41 originations. The next most common DTI ratio? 20-30%, with 37 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.67%
Southern Lending Services Ltd. has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination81.28%
Southern Lending Services Ltd. has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 219 | $113,465,000 | $518,105 |