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, Dallas, Granbury, and Killeen 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 an above 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
---|---|---|
30 Year Conventional Purchase | 6.42% | 10/31/24 |
30 Year FHA Purchase | 6.27% | 10/31/24 |
30 Year VA Purchase | 5.94% | 10/31/24 |
15 Year Conventional Purchase | 6.09% | 10/31/24 |
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
317Origination Dollar Volume (All Markets)
$125,065,000SOUTHERN LENDING SERVICES LTD. - 2021
SOUTHERN LENDING SERVICES LTD. is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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) | 216 | $86,630,000 | $401,065 | $2,679 | 3.15% |
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 94 | $36,350,000 | $386,702 | $4,600 | 3.06% |
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $3,599 | 3.75% |
Granbury, TX (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $2,870 | 4.00% |
KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $6,040 | 3.81% |
WACO, TX (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $8,827 | 3.63% |
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $1,533 | 3.25% |
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 | 252 | $95,990,000 | $380,913 | $2,532 | 3.18% |
VA | 65 | $29,075,000 | $447,308 | $6,229 | 2.99% |
For 2021, Southern Lending Services Ltd.'s most frequently originated type of loan was Conventional, with 252 originations. Their 2nd most popular type was VA, with 65 originations.
Loan Reason
For 2021, Southern Lending Services Ltd.'s most frequently cited loan purpose was Home Purchase, with 315 originations. The 2nd most popular reason was Refi, with 1 originations.
Loan Duration/Length
For 2021, Southern Lending Services Ltd.'s most frequently cited loan duration was 30 Year, with 292 originations. The 2nd most popular length was 15 Year, with 21 originations.
Origination Fees/Closing Costs
Southern Lending Services Ltd.'s average total fees were $3,364, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 224 originations.
Interest Rates
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
3-4% | 173 | $68,045,000 | $393,324 |
2.5-3% | 119 | $46,775,000 | $393,067 |
<2.5% | 17 | $7,095,000 | $417,353 |
4-5% | 8 | $3,150,000 | $393,750 |
During 2021, Southern Lending Services Ltd.'s average interest rate for loans was 3.18%, while their most frequently originated rate bucket for loans was 3-4%, with 173 originations.
Loan Sizing
2021 saw Southern Lending Services Ltd. place emphasis on $400k-600k loans with 147 originations, totaling $69,935,000 in origination value.
Applicant Income
Southern Lending Services Ltd. lent most frequently to those with incomes in the $150k-250k range, with 123 originations. The second most popular income band? $100k-150k, with 106 originations.
Applicant Debt to Income Ratio
Southern Lending Services Ltd. lent most frequently to those with DTI ratios of 20-30%, with 76 originations. The next most common DTI ratio? 30-36%, with 69 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
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 origination93.38%
Southern Lending Services Ltd. has an average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 317 | $125,065,000 | $394,527 |
LTV Distribution
Complaints
Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
---|---|---|---|---|
SOUTHERN TRUST MORTGAGE LLC | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |