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

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  • 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 markets by origination volume include: Austin, San Antonio, Houston, Midland, and Rockport 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 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.

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    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

    267

    Origination Dollar Volume (All Markets)

    $98,535,000

    Awards

    SOUTHERN LENDING SERVICES LTD. 30 Year Conventional Loans bronze SOUTHERN LENDING SERVICES LTD. 30 Year Conventional Loans gold
    Show all (2) 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) 197 $73,535,000 $373,274 $4,045 3.08%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 64 $23,550,000 $367,969 $3,517 3.02%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 2 $630,000 $315,000 $2,966 3.38%
    MIDLAND, TX (FHA|USDA|VA) 1 $325,000 $325,000 $15,462 2.63%
    Rockport, TX (FHA|USDA|VA) 1 $195,000 $195,000 $3,146 3.50%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $195,000 $195,000 $4,497 3.50%
    Outside of Metro Areas 1 $105,000 $105,000 $0 2.75%
    Southern Lending Services Ltd.'s top markets include Austin, San Antonio, Houston, Midland, and Rockport 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.

    The District Federal Credit Union
    Similarity Rank: 441
    United Heritage Credit Union
    Similarity Rank: 657
    DENVER COMMUNITY
    Similarity Rank: 732
    United Fidelity Bank, fsb
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    AAXY L.L.C.
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    Credence Funding Corporation
    Similarity Rank: 840
    CAPITAL PLUS FINANCIAL, LLC
    Similarity Rank: 856
    LANDED HOME LOANS LLC
    Similarity Rank: 1040
    Beeline Loans, Inc.
    Similarity Rank: 1118
    BLUE BRICK FINANCIAL LLC
    Similarity Rank: 1175

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 206 $73,960,000 $359,029 $3,139 3.13%
    VA 57 $23,595,000 $413,947 $6,798 2.82%
    USDA 4 $980,000 $245,000 $4,220 3.28%

    For 2020, Southern Lending Services Ltd.'s most frequently originated type of loan was Conventional, with 206 originations. Their 2nd most popular type was VA, with 57 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 250 $93,270,000 $373,080 $3,856 3.07%
    Refi 14 $4,600,000 $328,571 $5,237 2.82%
    Cash Out Refi 3 $665,000 $221,667 $4,529 3.29%

    For 2020, Southern Lending Services Ltd.'s most frequently cited loan purpose was Home Purchase, with 250 originations. The 2nd most popular reason was Refi, with 14 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 244 $92,080,000 $377,377 $4,000 3.09%
    15 Year 17 $5,115,000 $300,882 $3,380 2.78%
    10 Year 3 $495,000 $165,000 $2,165 2.38%
    20 Year 2 $470,000 $235,000 $3,332 2.94%
    Other 1 $375,000 $375,000 $4,433 2.88%

    For 2020, Southern Lending Services Ltd.'s most frequently cited loan duration was 30 Year, with 244 originations. The 2nd most popular length was 15 Year, with 17 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 160 $57,990,000 $362,438
    $1k-2k 37 $13,205,000 $356,892
    $2k-3k 17 $5,745,000 $337,941
    $3k-4k 12 $5,180,000 $431,667
    $4k-5k 11 $4,985,000 $453,182
    $5k+ 10 $3,720,000 $372,000

    Southern Lending Services Ltd.'s average total fees were $4,000, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 160 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 125 $46,055,000 $368,440
    3-4% 112 $41,010,000 $366,161
    <2.5% 26 $9,820,000 $377,692
    4-5% 4 $1,650,000 $412,500

    During 2020, Southern Lending Services Ltd.'s average interest rate for loans was 3.09%, while their most frequently originated rate bucket for loans was 2.5-3%, with 125 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 140 $44,360,000 $316,857 $3,584 3.06%
    $400k-600k 102 $47,660,000 $467,255 $4,419 3.05%
    $100k-200k 21 $3,075,000 $146,429 $2,342 3.11%
    $600k-1MM 3 $2,285,000 $761,667 $12,210 3.04%
    $1MM+ 1 $1,155,000 $1,155,000 $12,614 3.25%

    2020 saw Southern Lending Services Ltd. place emphasis on $200k-400k loans with 140 originations, totaling $44,360,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 96 $34,650,000 $360,938 $4,654 2.98%
    $150k-250k 87 $35,395,000 $406,839 $3,352 3.09%
    $75k-100k 35 $11,055,000 $315,857 $3,393 3.07%
    $250k+ 28 $12,710,000 $453,929 $4,744 3.22%
    $50k-75k 18 $4,160,000 $231,111 $2,992 3.08%
    $50k or less 3 $565,000 $188,333 $2,361 3.25%

    Southern Lending Services Ltd. lent most frequently to those with incomes in the $100k-150k range, with 96 originations. The second most popular income band? $150k-250k, with 87 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 59 $21,905,000 $371,271 $3,890 3.06%
    30-36% 51 $20,145,000 $395,000 $3,530 3.01%
    <20% 17 $5,345,000 $314,412 $2,990 2.93%
    44% 13 $4,625,000 $355,769 $4,862 3.34%
    38% 13 $4,075,000 $313,462 $4,952 3.31%
    43% 12 $4,890,000 $407,500 $4,431 2.99%
    50-60% 11 $4,515,000 $410,455 $6,577 3.03%
    47% 10 $3,560,000 $356,000 $4,342 3.16%
    40% 9 $2,795,000 $310,556 $3,575 3.33%
    41% 9 $3,595,000 $399,444 $2,995 2.97%
    39% 9 $3,155,000 $350,556 $3,980 3.06%
    36% 9 $2,955,000 $328,333 $2,730 3.13%
    42% 8 $3,400,000 $425,000 $3,526 3.27%
    37% 8 $3,370,000 $421,250 $3,067 2.88%
    49% 7 $2,555,000 $365,000 $2,151 2.78%
    45% 7 $1,975,000 $282,143 $2,718 3.02%
    48% 6 $2,230,000 $371,667 $3,158 3.23%
    46% 5 $1,895,000 $379,000 $3,229 3.00%
    >60% 4 $1,550,000 $387,500 $13,152 2.66%

    Southern Lending Services Ltd. lent most frequently to those with DTI ratios of 20-30%, with 59 originations. The next most common DTI ratio? 30-36%, with 51 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 174 $64,600,000 $371,264 $3,860 3.11%
    Not provided 43 $15,435,000 $358,953 $3,482 2.93%
    Asian 24 $8,370,000 $348,750 $3,310 3.01%
    Black 21 $8,075,000 $384,524 $5,980 2.99%
    American Indian 4 $1,680,000 $420,000 $5,052 3.03%
    Korean 1 $375,000 $375,000 $4,433 2.88%

    Approval Rates

    Total approvals of all applications
    98.88%

    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
    88.01%

    Southern Lending Services Ltd. has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 267 $98,535,000 $369,045

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 267 $98,535,000 $369,045

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 10 $1,490,000 $149,000 $2,236 3.00%
    40-60% 25 $6,365,000 $254,600 $3,033 2.93%
    60-80% 84 $32,080,000 $381,905 $3,732 3.15%
    80-100% 139 $54,785,000 $394,137 $3,571 3.06%
    Over 100% 8 $3,710,000 $463,750 $17,699 2.84%
    Under 20% 1 $105,000 $105,000 $1,361 2.88%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    SOUTHERN TRUST MORTGAGE LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 100.0%