Southern Lending Services Ltd. Mortgage Rates, Fees & Info

HOUSTON, TX

LEI: 549300W8XIPJGDECVX07

Tax ID: 27-1209306

5 stars - Updated: 4/5/25 - out of 5 stars, based on 16 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • 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

    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, Boulder, and Greeley among others. We have data for 6 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 a low 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 about average 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 6.47% 4/5/25
    30 Year Conventional Refi 6.96% 4/5/25
    30 Year FHA Purchase 6.72% 4/5/25
    30 Year VA Purchase 5.69% 4/5/25
    15 Year Conventional Purchase 5.77% 4/5/25
    15 Year VA Purchase 6.00% 4/5/25
    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

    257

    Origination Dollar Volume (All Markets)

    $124,725,000
    Show all (8) awards

    Relative Rate

    Southern Lending Services Ltd.'s average 30 year fixed mortgage rate was 6.17%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of -0.38%.

    Relative Fees (Closing Costs)

    Southern Lending Services Ltd.'s average total fees/closing costs for a 30 year fixed rate mortgage were $5,316.

    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 $8,356.

    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 $69,145,000 $512,185 $4,257 6.28%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 76 $36,000,000 $473,684 $6,632 5.90%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 32 $12,870,000 $402,188 $4,287 6.08%
    BOULDER, CO (FHA|USDA|VA) 8 $4,140,000 $517,500 $10,388 6.50%
    GREELEY, CO (FHA|USDA|VA) 5 $2,315,000 $463,000 $7,988 6.58%
    Outside of Metro Areas 1 $255,000 $255,000 $2,601 6.63%
    Southern Lending Services Ltd.'s top markets include Austin, San Antonio, Denver, Boulder, and Greeley 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.

    Shea Mortgage Inc.
    Similarity Rank: 440
    VELOCITY Credit Union
    Similarity Rank: 492
    SMART CHOICE MORTGAGE, A TEXAS LIMITED LIABILITY C
    Similarity Rank: 564
    ADVISA MORTGAGE SERVICES, LTD.
    Similarity Rank: 728
    ON TAP
    Similarity Rank: 798
    ROCKY MOUNTAIN LAW ENFORCEMENT FCU
    Similarity Rank: 798
    Generations Community Federal Credit Union
    Similarity Rank: 891
    FirstBank
    Similarity Rank: 1100
    SOUTHERN LENDING SERVICES, LTD.
    Similarity Rank: 1218
    AAXY L.L.C.
    Similarity Rank: 1328

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 203 $95,365,000 $469,778 $4,748 6.29%
    VA 54 $29,360,000 $543,704 $6,996 5.67%

    For 2024, Southern Lending Services Ltd.'s most frequently originated type of loan was Conventional, with 203 originations. Their 2nd most popular type was VA, with 54 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 256 $124,420,000 $486,016 $5,198 6.15%
    Refi 1 $305,000 $305,000 $10,972 6.63%

    For 2024, Southern Lending Services Ltd.'s most frequently cited loan purpose was Home Purchase, with 256 originations. The 2nd most popular reason was Refi, with 1 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 246 $121,100,000 $492,276 $5,316 6.17%
    15 Year 10 $3,110,000 $311,000 $2,581 5.80%
    20 Year 1 $515,000 $515,000 $7,985 6.63%

    For 2024, Southern Lending Services Ltd.'s most frequently cited loan duration was 30 Year, with 246 originations. The 2nd most popular length was 15 Year, with 10 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 161 $79,035,000 $490,901
    $5k+ 33 $18,085,000 $548,030
    $2k-3k 30 $12,420,000 $414,000
    $3k-4k 16 $7,620,000 $476,250
    $1k-2k 14 $6,080,000 $434,286
    $4k-5k 3 $1,485,000 $495,000

    Southern Lending Services Ltd.'s average total fees were $5,316, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 161 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 114 $54,390,000 $477,105
    6-7% 100 $49,430,000 $494,300
    7-8% 23 $12,035,000 $523,261
    4-5% 20 $8,870,000 $443,500

    During 2024, Southern Lending Services Ltd.'s average interest rate for loans was 6.17%, while their most frequently originated rate bucket for loans was 5-6%, with 114 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 117 $58,265,000 $497,991 $5,151 6.18%
    $200k-400k 67 $21,845,000 $326,045 $4,317 6.08%
    $600k-1MM 60 $41,930,000 $698,833 $6,964 6.21%
    $100k-200k 9 $1,345,000 $149,444 $2,900 6.15%
    $100,000 or less 3 $235,000 $78,333 $1,908 5.87%
    $1MM+ 1 $1,105,000 $1,105,000 $18 6.25%

    2024 saw Southern Lending Services Ltd. place emphasis on $400k-600k loans with 117 originations, totaling $58,265,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 113 $55,965,000 $495,265 $4,957 6.17%
    $100k-150k 71 $30,985,000 $436,408 $5,416 6.04%
    $250k+ 56 $32,050,000 $572,321 $5,983 6.32%
    $75k-100k 11 $3,955,000 $359,545 $3,493 6.03%
    $50k-75k 6 $1,770,000 $295,000 $3,924 6.04%

    Southern Lending Services Ltd. lent most frequently to those with incomes in the $150k-250k range, with 113 originations. The second most popular income band? $100k-150k, with 71 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 44 $18,560,000 $421,818 $5,215 6.30%
    30-36% 33 $15,345,000 $465,000 $4,045 6.11%
    50-60% 20 $10,490,000 $524,500 $5,287 5.74%
    <20% 20 $7,430,000 $371,500 $5,363 5.87%
    39% 17 $8,415,000 $495,000 $4,757 6.36%
    49% 13 $6,095,000 $468,846 $6,375 6.32%
    45% 13 $6,305,000 $485,000 $3,430 6.15%
    47% 11 $7,145,000 $649,545 $7,298 6.21%
    48% 11 $5,285,000 $480,455 $3,734 6.02%
    41% 11 $6,515,000 $592,273 $6,624 6.26%
    44% 11 $5,305,000 $482,273 $6,521 6.15%
    40% 10 $5,020,000 $502,000 $6,257 6.36%
    37% 9 $4,765,000 $529,444 $5,345 6.13%
    38% 8 $3,600,000 $450,000 $1,317 6.02%
    42% 7 $3,565,000 $509,286 $3,921 6.30%
    43% 7 $3,815,000 $545,000 $7,324 6.57%
    46% 5 $2,465,000 $493,000 $6,476 6.19%
    36% 4 $2,490,000 $622,500 $7,265 6.31%
    >60% 3 $2,115,000 $705,000 $10,009 5.59%

    Southern Lending Services Ltd. lent most frequently to those with DTI ratios of 20-30%, with 44 originations. The next most common DTI ratio? 30-36%, with 33 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 152 $73,450,000 $483,224 $6,323 6.05%
    Asian 65 $32,895,000 $506,077 $3,204 6.49%
    Not provided 28 $12,430,000 $443,929 $3,978 6.09%
    Black 6 $3,050,000 $508,333 $3,502 5.71%
    American Indian 4 $2,070,000 $517,500 $9,925 5.74%
    Native Hawaiian or Islander 2 $830,000 $415,000 $74 6.12%

    Approval Rates

    Total approvals of all applications
    99.07%

    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
    76.26%

    Southern Lending Services Ltd. has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 257 $124,725,000 $485,311

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    257 $124,725,000 $485,311

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 19 $4,995,000 $262,895 $4,058 6.34%
    40-60% 30 $12,320,000 $410,667 $5,666 6.05%
    60-80% 68 $32,780,000 $482,059 $5,624 6.29%
    80-100% 125 $69,885,000 $559,080 $4,446 6.12%
    Over 100% 6 $3,580,000 $596,667 $21,827 5.75%
    Under 20% 9 $1,165,000 $129,444 $2,818 5.90%