Southern Lending Services Ltd. Mortgage Rates, Fees & InfoHOUSTON, TX
Tax ID: 27-1209306
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewSouthern Lending Services Ltd. is a smaller mortgage company specializing in loans. Southern Lending Services Ltd. has a high proportion of conventional loans. Their top markets by origination volume include: Austin, San Antonio, Houston, Dallas, and Corpus Christi among others. We have data for 7 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 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.
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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.42%||3/27/23|
|30 Year FHA Purchase||6.27%||3/27/23|
|30 Year VA Purchase||5.94%||3/27/23|
|15 Year Conventional Purchase||6.09%||3/27/23|
|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.|
Origination Dollar Volume (All Markets)$128,260,000
Southern Lending Services Ltd.'s average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.12%.
Relative Fees (Closing Costs)
Southern Lending Services Ltd.'s average total fees/closing costs for a 30 year fixed rate
mortgage were $6,954.
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 $4,750.
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)||181||$89,515,000||$494,558||$6,453||4.90%|
|SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA)||87||$36,905,000||$424,195||$7,909||4.76%|
|HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA)||2||$740,000||$370,000||$5,420||5.13%|
|Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA)||1||$565,000||$565,000||$10,244||3.38%|
|CORPUS CHRISTI, TX (FHA|USDA|VA)||1||$245,000||$245,000||$10,789||4.13%|
|KILLEEN-TEMPLE, TX (FHA|USDA|VA)||1||$155,000||$155,000||$8,510||3.25%|
|VICTORIA, TX (FHA|USDA|VA)||1||$135,000||$135,000||$2,541||3.38%|
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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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Southern Lending Services Ltd.'s most frequently originated type of loan was Conventional, with 223 originations. Their 2nd most popular type was VA, with 51 originations.
|Loan Reason||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Southern Lending Services Ltd.'s most frequently cited loan purpose was Home Purchase, with 274 originations.
|Loan Length||Originations||Total Value||Average Loan||Average Fees||Average Rate|
For 2022, Southern Lending Services Ltd.'s most frequently cited loan duration was 30 Year, with 256 originations. The 2nd most popular length was 15 Year, with 16 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Southern Lending Services Ltd.'s average total fees were $6,954, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 97 originations.
|Loan Rate||Originations||Total Value||Average Loan|
During 2022, Southern Lending Services Ltd.'s average interest rate for loans was 4.88%, while their most frequently originated rate bucket for loans was 4-5%, with 122 originations.
2022 saw Southern Lending Services Ltd. place emphasis on $400k-600k loans with 153 originations, totaling $74,745,000 in origination value.
Southern Lending Services Ltd. lent most frequently to those with incomes in the $150k-250k range, with 124 originations. The second most popular income band? $100k-150k, with 80 originations.
Applicant Debt to Income Ratio
Southern Lending Services Ltd. lent most frequently to those with DTI ratios of 30-36%, with 60 originations. The next most common DTI ratio? 20-30%, with 58 originations.
Approval RatesTotal approvals of all applications
Southern Lending Services Ltd. has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick RateApprovals leading to origination
Southern Lending Services Ltd. has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|