Southern Lending Services Ltd. Mortgage Rates, Fees & Info

HOUSTON, TX

LEI: 549300W8XIPJGDECVX07

Tax ID: 27-1209306

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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. They have a low ratio of USDA loans. Their top two markets are Austin and San Antonio .

    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 6.42% 4/21/24
    30 Year FHA Purchase 6.27% 4/21/24
    30 Year VA Purchase 5.94% 4/21/24
    15 Year Conventional Purchase 6.09% 4/21/24
    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

    127

    Origination Dollar Volume (All Markets)

    $42,295,000

    Awards

    SOUTHERN LENDING SERVICES LTD. 30 Year Conventional Loans gold SOUTHERN LENDING SERVICES LTD. 30 Year Conventional Loans gold SOUTHERN LENDING SERVICES LTD. VA Loans silver SOUTHERN LENDING SERVICES LTD. VA Loans silver
    Show all (4) awards

    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) 98 $31,650,000 $322,959 $4,177 4.71%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 29 $10,645,000 $367,069 $4,703 4.59%
    Southern Lending Services Ltd.'s top markets include Austin and San Antonio among others.

    Their top states include:
  • Texas (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.

    CAPITAL PLUS FINANCIAL, LLC
    Similarity Rank: 432
    SOUTHERN LENDING SERVICES, LTD.
    Similarity Rank: 472
    AUSTIN TELCO Federal Credit Union
    Similarity Rank: 481
    Guaranty Bank and Trust Co
    Similarity Rank: 493
    ADVISA MORTGAGE SERVICES, LTD.
    Similarity Rank: 498
    AMERICAN HERITAGE CAPITAL, L.P.
    Similarity Rank: 546
    DENVER COMMUNITY
    Similarity Rank: 548
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 614
    A+ Federal Credit Union
    Similarity Rank: 975
    First American State Bank
    Similarity Rank: 985

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 97 $30,705,000 $316,546 $3,052 4.78%
    VA 27 $10,895,000 $403,519 $8,489 4.31%
    USDA 3 $695,000 $231,667 $3,815 4.92%

    For 2018, Southern Lending Services Ltd.'s most frequently originated type of loan was Conventional, with 97 originations. Their 2nd most popular type was VA, with 27 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 127 $42,295,000 $333,031 $4,290 4.68%

    For 2018, Southern Lending Services Ltd.'s most frequently cited loan purpose was Home Purchase, with 127 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 119 $40,355,000 $339,118 $4,328 4.72%
    15 Year 7 $1,625,000 $232,143 $3,449 4.11%
    20 Year 1 $315,000 $315,000 $0 4.75%

    For 2018, Southern Lending Services Ltd.'s most frequently cited loan duration was 30 Year, with 119 originations. The 2nd most popular length was 15 Year, with 7 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 79 $25,805,000 $326,646
    $1k-2k 9 $2,765,000 $307,222
    $2k-3k 9 $2,745,000 $305,000
    $5k+ 9 $3,985,000 $442,778
    $3k-4k 8 $2,910,000 $363,750
    $4k-5k 5 $1,625,000 $325,000

    Southern Lending Services Ltd.'s average total fees were $4,328, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 79 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 91 $29,935,000 $328,956
    5-6% 20 $7,100,000 $355,000
    3-4% 15 $4,995,000 $333,000
    6-7% 1 $265,000 $265,000

    During 2018, Southern Lending Services Ltd.'s average interest rate for loans was 4.72%, while their most frequently originated rate bucket for loans was 4-5%, with 91 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 78 $23,460,000 $300,769 $3,999 4.71%
    $400k-600k 36 $16,180,000 $449,444 $5,215 4.66%
    $100k-200k 12 $1,950,000 $162,500 $1,923 4.59%
    $600k-1MM 1 $705,000 $705,000 $16,333 4.38%

    2018 saw Southern Lending Services Ltd. place emphasis on $200k-400k loans with 78 originations, totaling $23,460,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 47 $16,155,000 $343,723 $3,763 4.75%
    $150k-250k 43 $15,435,000 $358,953 $4,988 4.62%
    $75k-100k 18 $5,230,000 $290,556 $5,758 4.69%
    $50k-75k 10 $2,360,000 $236,000 $2,587 4.60%
    $250k+ 7 $2,795,000 $399,286 $2,838 4.73%
    $50k or less 2 $320,000 $160,000 $2,042 4.81%

    Southern Lending Services Ltd. lent most frequently to those with incomes in the $100k-150k range, with 47 originations. The second most popular income band? $150k-250k, with 43 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 19 $6,095,000 $320,789 $2,279 4.94%
    20-30% 16 $4,810,000 $300,625 $4,465 4.50%
    49% 14 $4,440,000 $317,143 $2,762 4.75%
    42% 13 $4,615,000 $355,000 $4,514 4.56%
    46% 9 $3,265,000 $362,778 $6,014 4.58%
    <20% 8 $2,010,000 $251,250 $3,600 4.48%
    43% 6 $2,060,000 $343,333 $4,005 4.85%
    47% 6 $1,460,000 $243,333 $2,730 4.96%
    50-60% 5 $1,935,000 $387,000 $12,396 4.31%
    37% 5 $1,415,000 $283,000 $3,241 4.85%
    40% 4 $1,700,000 $425,000 $4,173 4.72%
    48% 4 $1,570,000 $392,500 $3,690 4.72%
    41% 4 $1,300,000 $325,000 $5,469 4.97%
    44% 3 $955,000 $318,333 $2,483 4.83%
    36% 3 $1,285,000 $428,333 $2,606 4.75%
    39% 3 $1,155,000 $385,000 $4,410 4.41%
    >60% 2 $840,000 $420,000 $8,946 4.31%
    38% 2 $680,000 $340,000 $4,341 4.50%
    45% 1 $705,000 $705,000 $16,333 4.38%

    Southern Lending Services Ltd. lent most frequently to those with DTI ratios of 30-36%, with 19 originations. The next most common DTI ratio? 20-30%, with 16 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not provided 71 $23,695,000 $333,732 $4,283 4.64%
    White 45 $14,895,000 $331,000 $4,149 4.73%
    Black 6 $2,450,000 $408,333 $4,531 4.91%
    Asian 4 $1,040,000 $260,000 $5,643 4.78%
    Asian Indian 1 $215,000 $215,000 $3,710 3.88%

    Approval Rates

    Total approvals of all applications
    100.00%

    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 origination
    58.27%

    Southern Lending Services Ltd. has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 127 $42,295,000 $333,031

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 127 $42,295,000 $333,031

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 7 $1,185,000 $169,286 $1,339 4.49%
    40-60% 18 $4,500,000 $250,000 $1,868 4.58%
    60-80% 35 $13,285,000 $379,571 $3,793 4.74%
    80-100% 61 $21,535,000 $353,033 $4,883 4.72%
    Over 100% 5 $1,685,000 $337,000 $11,719 4.61%
    Under 20% 1 $105,000 $105,000 $0 4.38%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Southern Star Capital, L.L.C. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%