Southern Lending Services Ltd. Mortgage Rates, Fees & Info

HOUSTON, TX

LEI: 549300W8XIPJGDECVX07

Tax ID: 27-1209306

5 stars - Updated: 6/9/24 - out of 5 stars, based on 15 reviews

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

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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.

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
30 Year Conventional Purchase 6.42% 6/9/24
30 Year FHA Purchase 6.27% 6/9/24
30 Year VA Purchase 5.94% 6/9/24
15 Year Conventional Purchase 6.09% 6/9/24
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






Your Estimates

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

This is not an official calculator from Southern Lending Services Ltd.. 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

219

Origination Dollar Volume (All Markets)

$113,465,000
Show all (8) awards

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%
Southern Lending Services Ltd.'s top markets include Austin, San Antonio, Denver, and Boulder among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • 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.

    FC LENDING, LTD.
    Similarity Rank: 385
    ADVISA MORTGAGE SERVICES, LTD.
    Similarity Rank: 575
    Shea Mortgage Inc.
    Similarity Rank: 589
    SOUTHERN LENDING SERVICES, LTD.
    Similarity Rank: 732
    AAXY L.L.C.
    Similarity Rank: 872
    FIRST EQUITY MORTGAGE INCORPORATED
    Similarity Rank: 896
    HOME MORTGAGE ALLIANCE, LLC
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    PRIORITY HOME MORTGAGE, L.P.
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    Frost Bank
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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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 129 $66,045,000 $511,977
    $5k+ 30 $18,230,000 $607,667
    $1k-2k 22 $10,350,000 $470,455
    $2k-3k 15 $7,195,000 $479,667
    $3k-4k 13 $6,765,000 $520,385
    $4k-5k 10 $4,880,000 $488,000

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 123 $61,495,000 $499,959 $4,840 5.32%
    $600k-1MM 56 $38,700,000 $691,071 $6,569 5.57%
    $200k-400k 34 $11,440,000 $336,471 $3,566 5.41%
    $100k-200k 5 $715,000 $143,000 $1,536 5.01%
    $1MM+ 1 $1,115,000 $1,115,000 $26,073 7.50%

    2023 saw Southern Lending Services Ltd. place emphasis on $400k-600k loans with 123 originations, totaling $61,495,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 94 $50,000,000 $531,915 $5,474 5.33%
    $250k+ 63 $36,955,000 $586,587 $5,605 5.64%
    $100k-150k 47 $22,085,000 $469,894 $3,996 5.28%
    $75k-100k 8 $2,870,000 $358,750 $6,027 5.12%
    $50k-75k 7 $1,555,000 $222,143 $2,065 5.31%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 41 $19,845,000 $484,024 $3,688 5.37%
    20-30% 37 $18,165,000 $490,946 $4,591 5.41%
    38% 16 $9,700,000 $606,250 $5,299 5.50%
    <20% 13 $6,085,000 $468,077 $6,623 5.25%
    41% 11 $5,575,000 $506,818 $6,987 5.63%
    46% 10 $5,110,000 $511,000 $9,078 5.33%
    44% 10 $4,990,000 $499,000 $6,600 5.24%
    39% 9 $5,625,000 $625,000 $8,597 5.68%
    37% 9 $4,945,000 $549,444 $3,734 5.03%
    45% 9 $4,565,000 $507,222 $2,440 5.50%
    40% 9 $4,135,000 $459,444 $5,152 5.42%
    36% 8 $4,400,000 $550,000 $3,202 5.40%
    48% 7 $3,615,000 $516,429 $3,160 5.13%
    49% 7 $3,995,000 $570,714 $4,601 5.44%
    50-60% 7 $4,415,000 $630,714 $6,144 5.57%
    43% 6 $3,290,000 $548,333 $4,600 5.88%
    42% 5 $2,645,000 $529,000 $7,043 5.24%
    47% 4 $1,860,000 $465,000 $5,353 4.99%
    >60% 1 $505,000 $505,000 $6,079 5.75%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 138 $68,780,000 $498,406 $5,655 5.38%
    Asian 46 $25,130,000 $546,304 $3,293 5.47%
    Not provided 21 $12,095,000 $575,952 $5,224 5.42%
    Black 13 $6,815,000 $524,231 $5,873 5.34%
    Filipino 1 $645,000 $645,000 $190 5.38%

    Approval Rates

    Total approvals of all applications
    99.67%

    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 origination
    81.28%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    219 $113,465,000 $518,105

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 7 $1,175,000 $167,857 $3,056 5.27%
    40-60% 17 $7,065,000 $415,588 $4,597 5.54%
    60-80% 75 $39,705,000 $529,400 $5,620 5.49%
    80-100% 117 $63,885,000 $546,026 $4,624 5.32%
    Over 100% 3 $1,635,000 $545,000 $18,704 5.75%