Southern Bank Mortgage Rates, Fees & Info
Poplar Bluff, MOLEI: 549300YKBMBBIIMQJS94
Tax ID: 43-0462350
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Mortgage Data
Review & Overview
Southern Bank is a smaller bank specializing in Home Purchase loans. Southern Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Springfield, Poplar Bluff, Houston, Cape Girardeau, and Jonesboro among others. We have data for 59 markets. (Some data included below & more in-depth data is available with an active subscription.)Southern Bank 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 Bank 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 relatively high 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 12/2/24 |
| 30 Year Conventional Purchase | 7.00% | 12/2/24 |
| 30 Year Conventional Refi | 6.91% | 12/2/24 |
| 30 Year Cash-out Refi | 6.54% | 12/2/24 |
| 30 Year USDA Purchase | 6.77% | 12/2/24 |
| 15 Year Conventional Purchase | 6.79% | 12/2/24 |
| 15 Year Conventional Refi | 6.67% | 12/2/24 |
| 15 Year Cash-out Refi | 6.67% | 12/2/24 |
| 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 Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,304Origination Dollar Volume (All Markets)
$251,400,000Awards
Southern Bank - 2023
Southern Bank is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Southern Bank's average 30 year fixed mortgage rate was
7.29%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.81%.
Relative Fees (Closing Costs)
Southern Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $2,149.
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 $9,089.
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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 322 | $45,900,000 | $142,547 | $1,980 | 7.78% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 226 | $30,750,000 | $136,062 | $2,153 | 7.65% |
| Poplar Bluff, MO (FHA|USDA|VA) | 177 | $23,245,000 | $131,328 | $1,792 | 7.58% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $16,760,000 | $8,380,000 | $0 | 7.56% |
| CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) | 104 | $16,180,000 | $155,577 | $2,048 | 7.89% |
| JONESBORO, AR (FHA|USDA|VA) | 76 | $12,180,000 | $160,263 | $2,249 | 7.63% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 30 | $10,070,000 | $335,667 | $2,249 | 7.79% |
| West Plains, MO (FHA|USDA|VA) | 64 | $7,820,000 | $122,188 | $1,606 | 7.63% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 29 | $6,585,000 | $227,069 | $2,588 | 7.69% |
| AMARILLO, TX (FHA|USDA|VA) | 1 | $6,305,000 | $6,305,000 | $0 | 6.50% |
| MIDLAND, TX (FHA|USDA|VA) | 1 | $6,005,000 | $6,005,000 | $0 | 6.50% |
| ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) | 1 | $5,355,000 | $5,355,000 | $0 | 7.50% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 2 | $5,330,000 | $2,665,000 | $0 | 8.13% |
| Sikeston, MO (FHA|USDA|VA) | 31 | $5,145,000 | $165,968 | $2,364 | 7.65% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 21 | $4,465,000 | $212,619 | $2,147 | 7.85% |
| Mountain Home, AR (FHA|USDA|VA) | 11 | $3,705,000 | $336,818 | $2,108 | 7.13% |
| Greenwood, MS (FHA|USDA|VA) | 1 | $3,475,000 | $3,475,000 | $0 | 6.25% |
| Paragould, AR (FHA|USDA|VA) | 29 | $3,435,000 | $118,448 | $1,814 | 7.63% |
| Marshall, MO (FHA|USDA|VA) | 1 | $3,335,000 | $3,335,000 | $0 | 7.25% |
| Indianola, MS (FHA|USDA|VA) | 1 | $3,205,000 | $3,205,000 | $0 | 6.25% |
| Batesville, AR (FHA|USDA|VA) | 22 | $3,140,000 | $142,727 | $1,576 | 8.00% |
| Branson, MO (FHA|USDA|VA) | 21 | $2,745,000 | $130,714 | $2,045 | 7.71% |
| Maryville, MO (FHA|USDA|VA) | 13 | $2,415,000 | $185,769 | $1,726 | 8.04% |
| Kennett, MO (FHA|USDA|VA) | 33 | $2,285,000 | $69,242 | $1,785 | 7.91% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 4 | $2,210,000 | $552,500 | $4,324 | 7.00% |
| CARBONDALE-MARION, IL (FHA|USDA|VA) | 3 | $2,145,000 | $715,000 | $2,249 | 7.38% |
| Searcy, AR (FHA|USDA|VA) | 19 | $2,035,000 | $107,105 | $1,786 | 8.04% |
| Palestine, TX (FHA|USDA|VA) | 1 | $1,805,000 | $1,805,000 | $0 | 6.25% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $1,535,000 | $1,535,000 | $9,391 | 7.88% |
| Clarksdale, MS (FHA|USDA|VA) | 1 | $1,305,000 | $1,305,000 | $0 | 6.25% |
| Rolla, MO (FHA|USDA|VA) | 12 | $1,260,000 | $105,000 | $2,055 | 7.80% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $1,195,000 | $1,195,000 | $0 | 8.50% |
| Cullman, AL (FHA|USDA|VA) | 1 | $875,000 | $875,000 | $0 | 7.50% |
| ST. JOSEPH, MO-KS (FHA|USDA|VA) | 6 | $780,000 | $130,000 | $1,842 | 7.67% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 2 | $670,000 | $335,000 | $2,639 | 8.19% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $655,000 | $655,000 | $4,690 | 6.50% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $0 | 7.44% |
| TULSA, OK (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $4,569 | 8.38% |
| Lebanon, MO (FHA|USDA|VA) | 5 | $535,000 | $107,000 | $2,334 | 7.20% |
| Fort Leonard Wood, MO (FHA|USDA|VA) | 3 | $515,000 | $171,667 | $1,962 | 7.08% |
| Russellville, AR (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 8.50% |
| Farmington, MO (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,967 | 7.63% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 7.50% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 7.63% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 6.75% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,047 | 6.75% |
| HOT SPRINGS, AR (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $0 | 8.75% |
| FORT SMITH, AR-OK (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,393 | 8.50% |
| Blytheville, AR (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $2,006 | 7.25% |
| Newport, TN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 8.50% |
| Atchison, KS (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 7.25% |
| JEFFERSON CITY, MO (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 9.00% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 7.75% |
| Frankfort, KY (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,161 | 7.25% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,277 | 8.38% |
| COLUMBIA, MO (FHA|USDA|VA) | 2 | $70,000 | $35,000 | $1,425 | 7.50% |
| Charleston-Mattoon, IL (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $1,658 | 7.00% |
| Malvern, AR (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 8.50% |
| Elk City, OK (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $4,020 | 8.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against Southern Bank 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 | 864 | $214,250,000 | $247,975 | $1,942 | 7.68% |
| HELOC | 423 | $35,025,000 | $82,801 | n/a | 7.81% |
| USDA | 17 | $2,125,000 | $125,000 | $4,002 | 6.81% |
For 2023, Southern Bank's most frequently originated type of loan was Conventional, with 864 originations. Their 2nd most popular type was HELOC, with 423 originations.
Loan Reason
For 2023, Southern Bank's most frequently cited loan purpose was Home Purchase, with 678 originations. The 2nd most popular reason was Home Improvement, with 245 originations.
Loan Duration/Length
For 2023, Southern Bank's most frequently cited loan duration was 10 Year, with 414 originations. The 2nd most popular length was 30 Year, with 358 originations.
Origination Fees/Closing Costs
Southern Bank's average total fees were $2,149, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 454 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 518 | $59,380,000 | $114,633 |
| 7-8% | 453 | $110,835,000 | $244,669 |
| 6-7% | 316 | $78,940,000 | $249,810 |
| 5-6% | 16 | $2,220,000 | $138,750 |
| 4-5% | 1 | $25,000 | $25,000 |
During 2023, Southern Bank's average interest rate for loans was 7.29%, while their most frequently originated rate bucket for loans was Over 8%, with 518 originations.
Loan Sizing
2023 saw Southern Bank place emphasis on $100,000 or less loans with 638 originations, totaling $32,950,000 in origination value.
Applicant Income
Southern Bank lent most frequently to those with incomes in the $100k-150k range, with 246 originations. The second most popular income band? $50k or less, with 202 originations.
Applicant Debt to Income Ratio
Southern Bank lent most frequently to those with DTI ratios of 20-30%, with 251 originations. The next most common DTI ratio? 30-36%, with 165 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.65%
Southern Bank has an average approval rate.
Pick Rate
Approvals leading to origination86.27%
Southern Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,304 | $251,400,000 | $192,791 |