Southern Bank Mortgage Rates, Fees & Info

Poplar Bluff, MO

LEI: 549300YKBMBBIIMQJS94

Tax ID: 43-0462350

5 stars - Updated: 2/19/24 - out of 5 stars, based on 43 reviews

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

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Mortgage Data

Review & Overview

Southern Bank is a smaller bank specializing in Home Purchase and Refi 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, Gulfport, Jackson, and Oklahoma City among others. We have data for 67 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 an above 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.

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
Home Equity Line of Credit (HELOC) 6.27% 2/19/24
30 Year Conventional Purchase 7.00% 2/19/24
30 Year Conventional Refi 6.91% 2/19/24
30 Year Cash-out Refi 6.54% 2/19/24
30 Year USDA Purchase 6.77% 2/19/24
15 Year Conventional Purchase 6.79% 2/19/24
15 Year Conventional Refi 6.67% 2/19/24
15 Year Cash-out Refi 6.67% 2/19/24
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






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Southern Bank. 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

1,835

Origination Dollar Volume (All Markets)

$453,545,000
Show all (20) awards

Relative Rate

Southern Bank's average 30 year fixed mortgage rate was 5.24%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of 0.48%.

Relative Fees (Closing Costs)

Southern Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $1,951.

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.

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
SPRINGFIELD, MO (FHA|USDA|VA) 364 $81,910,000 $225,027 $1,879 5.11%
Outside of Metro Areas 446 $56,170,000 $125,942 $1,885 5.29%
Poplar Bluff, MO (FHA|USDA|VA) 254 $34,790,000 $136,969 $1,783 5.17%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 4 $33,430,000 $8,357,500 $0 4.50%
JACKSON, MS (FHA|USDA|VA) 5 $26,075,000 $5,215,000 $0 4.50%
OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $22,555,000 $22,555,000 $0 4.75%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 30 $19,750,000 $658,333 $1,606 5.38%
CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) 117 $18,815,000 $160,812 $1,633 4.91%
ST. LOUIS, MO-IL (FHA|USDA|VA) 40 $18,810,000 $470,250 $2,806 4.89%
JONESBORO, AR (FHA|USDA|VA) 113 $14,285,000 $126,416 $1,775 5.36%
West Plains, MO (FHA|USDA|VA) 114 $13,500,000 $118,421 $1,615 5.24%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 2 $11,070,000 $5,535,000 $0 4.35%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 2 $9,260,000 $4,630,000 $0 5.00%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 2 $8,950,000 $4,475,000 $0 4.19%
Meridian, MS (FHA|USDA|VA) 1 $8,565,000 $8,565,000 $0 4.50%
HOT SPRINGS, AR (FHA|USDA|VA) 2 $7,090,000 $3,545,000 $0 5.63%
WICHITA, KS (FHA|USDA|VA) 5 $6,885,000 $1,377,000 $1,748 5.08%
CLEVELAND, TN (FHA|USDA|VA) 2 $6,470,000 $3,235,000 $0 4.04%
Searcy, AR (FHA|USDA|VA) 49 $6,045,000 $123,367 $1,837 5.35%
Branson, MO (FHA|USDA|VA) 38 $5,040,000 $132,632 $2,045 5.07%
Paragould, AR (FHA|USDA|VA) 36 $4,370,000 $121,389 $1,602 4.80%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $4,115,000 $4,115,000 $0 3.75%
KANSAS CITY, MO-KS (FHA|USDA|VA) 9 $3,985,000 $442,778 $1,701 5.19%
Kennett, MO (FHA|USDA|VA) 52 $3,680,000 $70,769 $1,911 5.57%
Sikeston, MO (FHA|USDA|VA) 36 $3,570,000 $99,167 $1,884 5.12%
Batesville, AR (FHA|USDA|VA) 31 $2,795,000 $90,161 $1,631 5.45%
Blytheville, AR (FHA|USDA|VA) 5 $2,085,000 $417,000 $2,276 5.55%
Bay City, TX (FHA|USDA|VA) 1 $1,645,000 $1,645,000 $0 4.25%
LONGVIEW, TX (FHA|USDA|VA) 2 $1,630,000 $815,000 $0 3.75%
Rolla, MO (FHA|USDA|VA) 18 $1,580,000 $87,778 $1,570 4.90%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $1,575,000 $1,575,000 $0 4.13%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 4 $1,340,000 $335,000 $2,367 5.00%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 3 $1,135,000 $378,333 $1,905 4.08%
KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 1 $915,000 $915,000 $0 4.38%
Lebanon, MO (FHA|USDA|VA) 6 $780,000 $130,000 $1,616 5.19%
Gaffney, SC (FHA|USDA|VA) 1 $705,000 $705,000 $0 3.75%
Cullman, AL (FHA|USDA|VA) 2 $670,000 $335,000 $0 3.50%
JOPLIN, MO (FHA|USDA|VA) 2 $650,000 $325,000 $2,946 5.88%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $565,000 $565,000 $0 3.95%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $495,000 $495,000 $0 5.50%
Stillwater, OK (FHA|USDA|VA) 1 $425,000 $425,000 $0 5.75%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $425,000 $425,000 $0 4.75%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $415,000 $415,000 $0 4.75%
COLUMBUS, GA-AL (FHA|USDA|VA) 1 $405,000 $405,000 $0 4.50%
TULSA, OK (FHA|USDA|VA) 1 $395,000 $395,000 $1,885 5.75%
SAVANNAH, GA (FHA|USDA|VA) 1 $375,000 $375,000 $0 4.13%
Watertown-Fort Atkinson, WI (FHA|USDA|VA) 2 $300,000 $150,000 $4,992 5.63%
Mountain Home, AR (FHA|USDA|VA) 2 $290,000 $145,000 $1,983 5.25%
COLUMBIA, MO (FHA|USDA|VA) 1 $265,000 $265,000 $0 6.25%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $205,000 $205,000 $3,845 4.95%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $205,000 $205,000 $3,491 3.75%
CARBONDALE-MARION, IL (FHA|USDA|VA) 3 $205,000 $68,333 $2,043 6.00%
Beatrice, NE (FHA|USDA|VA) 1 $205,000 $205,000 $1,841 5.50%
Mexico, MO (FHA|USDA|VA) 1 $185,000 $185,000 $1,096 5.38%
Warrensburg, MO (FHA|USDA|VA) 1 $175,000 $175,000 $0 6.38%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $175,000 $175,000 $0 3.88%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $155,000 $155,000 $2,494 3.38%
JEFFERSON CITY, MO (FHA|USDA|VA) 1 $155,000 $155,000 $1,353 6.25%
DECATUR, IL (FHA|USDA|VA) 1 $145,000 $145,000 $1,591 7.00%
COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $115,000 $115,000 $0 4.25%
LAWTON, OK (FHA|USDA|VA) 1 $115,000 $115,000 $0 4.75%
Breckenridge, CO (FHA|USDA|VA) 1 $95,000 $95,000 $0 4.25%
Forrest City, AR (FHA|USDA|VA) 1 $95,000 $95,000 $0 6.95%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $85,000 $85,000 $0 6.25%
Harrison, AR (FHA|USDA|VA) 1 $75,000 $75,000 $0 5.00%
PEORIA, IL (FHA|USDA|VA) 1 $65,000 $65,000 $0 5.88%
KANKAKEE, IL (FHA|USDA|VA) 1 $45,000 $45,000 $0 6.00%
Southern Bank's top markets include Springfield, Poplar Bluff, Gulfport, Jackson, and Oklahoma City among others.

Their top states include:
  • Missouri (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • 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 1,251 $407,115,000 $325,432 $1,767 5.25%
    HELOC 550 $42,230,000 $76,782 n/a 5.05%
    USDA 34 $4,200,000 $123,529 $3,678 4.90%

    For 2022, Southern Bank's most frequently originated type of loan was Conventional, with 1,251 originations. Their 2nd most popular type was HELOC, with 550 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 923 $314,015,000 $340,211 $2,015 5.33%
    Refi 385 $97,895,000 $254,273 $1,551 5.00%
    Home Improvement 301 $21,665,000 $71,977 $1,347 5.08%
    Other 203 $16,125,000 $79,433 $1,454 5.12%
    Cash Out Refi 23 $3,845,000 $167,174 $1,801 3.84%

    For 2022, Southern Bank's most frequently cited loan purpose was Home Purchase, with 923 originations. The 2nd most popular reason was Refi, with 385 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 620 $177,930,000 $286,984 $1,302 5.01%
    30 Year 599 $116,375,000 $194,282 $1,951 5.24%
    Other 214 $64,580,000 $301,776 $1,289 5.27%
    15 Year 133 $16,305,000 $122,594 $1,622 4.68%
    5 Year 115 $44,115,000 $383,609 $1,035 5.58%
    1 Year 69 $21,055,000 $305,145 $0 5.66%
    3 Year 50 $9,100,000 $182,000 $483 5.85%
    20 Year 35 $4,085,000 $116,714 $1,509 5.42%

    For 2022, Southern Bank's most frequently cited loan duration was 10 Year, with 620 originations. The 2nd most popular length was 30 Year, with 599 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 770 $133,310,000 $173,130
    $1k-2k 9 $1,635,000 $181,667
    $4k-5k 3 $1,235,000 $411,667
    $2k-3k 2 $290,000 $145,000
    $5k+ 2 $560,000 $280,000
    $3k-4k 1 $265,000 $265,000

    Southern Bank's average total fees were $1,951, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 770 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 620 $233,690,000 $376,919
    5-6% 472 $77,590,000 $164,386
    3-4% 341 $76,425,000 $224,120
    6-7% 278 $53,290,000 $191,691
    7-8% 100 $9,320,000 $93,200
    2.5-3% 17 $2,895,000 $170,294
    Over 8% 7 $335,000 $47,857

    During 2022, Southern Bank's average interest rate for loans was 5.24%, while their most frequently originated rate bucket for loans was 4-5%, with 620 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 929 $50,345,000 $54,193 $1,543 5.27%
    $100k-200k 530 $75,830,000 $143,075 $1,866 5.14%
    $200k-400k 256 $69,230,000 $270,430 $2,036 5.12%
    $400k-600k 56 $26,300,000 $469,643 $2,458 4.87%
    $1MM+ 42 $214,870,000 $5,115,952 $4,566 4.74%
    $600k-1MM 22 $16,970,000 $771,364 $3,068 4.62%

    2022 saw Southern Bank place emphasis on $100,000 or less loans with 929 originations, totaling $50,345,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 353 $34,225,000 $96,955 $1,804 5.24%
    $50k or less 320 $23,230,000 $72,594 $1,714 5.15%
    $100k-150k 278 $42,270,000 $152,050 $1,926 5.11%
    $75k-100k 269 $34,325,000 $127,602 $1,817 5.28%
    $150k-250k 170 $31,240,000 $183,765 $2,032 5.05%
    $250k+ 75 $25,175,000 $335,667 $2,387 5.03%

    Southern Bank lent most frequently to those with incomes in the $50k-75k range, with 353 originations. The second most popular income band? $50k or less, with 320 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 423 $55,395,000 $130,957 $1,826 5.12%
    30-36% 268 $34,890,000 $130,187 $1,911 5.07%
    <20% 253 $27,225,000 $107,609 $1,708 5.11%
    36% 46 $5,840,000 $126,957 $1,712 5.24%
    37% 45 $7,495,000 $166,556 $1,807 5.18%
    39% 43 $4,865,000 $113,140 $1,906 5.03%
    42% 40 $4,520,000 $113,000 $1,954 4.88%
    38% 37 $5,935,000 $160,405 $1,918 5.04%
    40% 36 $3,460,000 $96,111 $2,321 5.41%
    43% 34 $5,760,000 $169,412 $1,782 5.17%
    41% 30 $5,260,000 $175,333 $1,883 5.23%
    44% 26 $3,180,000 $122,308 $1,696 5.39%
    50-60% 16 $3,450,000 $215,625 $1,947 5.23%
    45% 14 $2,440,000 $174,286 $2,021 4.93%
    46% 10 $2,040,000 $204,000 $1,754 5.18%
    48% 9 $3,405,000 $378,333 $2,583 5.01%
    49% 8 $1,980,000 $247,500 $1,834 5.60%
    >60% 5 $365,000 $73,000 $1,201 5.35%
    47% 3 $325,000 $108,333 $1,774 4.87%

    Southern Bank lent most frequently to those with DTI ratios of 20-30%, with 423 originations. The next most common DTI ratio? 30-36%, with 268 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 325 $256,975,000 $790,692 $0 5.21%
    White 1,461 $184,695,000 $126,417 $1,837 5.17%
    Not provided 19 $5,735,000 $301,842 $2,457 5.26%
    Asian 14 $4,880,000 $348,571 $2,755 5.42%
    Black 13 $915,000 $70,385 $1,184 5.04%
    American Indian 3 $345,000 $115,000 $2,033 5.22%

    Approval Rates

    Total approvals of all applications
    95.77%

    Southern Bank 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
    91.34%

    Southern Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,835 $453,545,000 $247,163

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,835 $453,545,000 $247,163

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 305 $31,795,000 $104,246 $1,541 5.05%
    40-60% 234 $68,820,000 $294,103 $1,652 5.19%
    60-80% 549 $219,065,000 $399,026 $1,773 5.14%
    80-100% 480 $120,510,000 $251,063 $2,098 5.31%
    Over 100% 2 $500,000 $250,000 $0 4.35%
    Under 20% 265 $12,855,000 $48,509 $1,366 5.18%