Southern Bank Mortgage Rates, Fees & Info

Poplar Bluff, MO

LEI: 549300YKBMBBIIMQJS94

Tax ID: 43-0462350

5 stars - Updated: 7/11/24 - out of 5 stars, based on 36 reviews

Latest/2023 | 2022 Data | 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 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.

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% 7/11/24
30 Year Conventional Purchase 7.00% 7/11/24
30 Year Conventional Refi 6.91% 7/11/24
30 Year Cash-out Refi 6.54% 7/11/24
30 Year USDA Purchase 6.77% 7/11/24
15 Year Conventional Purchase 6.79% 7/11/24
15 Year Conventional Refi 6.67% 7/11/24
15 Year Cash-out Refi 6.67% 7/11/24
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

1,304

Origination Dollar Volume (All Markets)

$251,400,000
Show all (8) awards

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%
Southern Bank's top markets include Springfield, Poplar Bluff, Houston, Cape Girardeau, and Jonesboro among others.

Their top states include:
  • Missouri (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)
  • Kentucky (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 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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 678 $173,200,000 $255,457 $2,163 7.64%
    Home Improvement 245 $17,165,000 $70,061 $1,527 7.83%
    Refi 224 $45,900,000 $204,911 $1,612 7.74%
    Other 152 $14,030,000 $92,303 $1,865 7.81%
    Cash Out Refi 5 $1,105,000 $221,000 $2,234 6.63%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 414 $52,600,000 $127,053 $1,329 7.75%
    30 Year 358 $77,660,000 $216,927 $2,149 7.29%
    Other 173 $53,155,000 $307,254 $1,281 8.09%
    3 Year 93 $34,105,000 $366,720 $0 7.80%
    1 Year 88 $14,050,000 $159,659 $2,349 8.27%
    5 Year 85 $10,585,000 $124,529 $1,481 7.93%
    15 Year 56 $5,600,000 $100,000 $1,668 7.32%
    20 Year 37 $3,645,000 $98,514 $1,617 8.08%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 454 $85,750,000 $188,877
    $1k-2k 17 $2,125,000 $125,000
    $2k-3k 1 $85,000 $85,000
    $4k-5k 1 $185,000 $185,000
    $5k+ 1 $215,000 $215,000

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 638 $32,950,000 $51,646 $1,643 7.90%
    $100k-200k 369 $52,365,000 $141,911 $2,078 7.60%
    $200k-400k 212 $56,830,000 $268,066 $2,120 7.46%
    $400k-600k 40 $18,440,000 $461,000 $2,562 7.55%
    $1MM+ 26 $77,230,000 $2,970,385 $5,568 7.14%
    $600k-1MM 19 $13,585,000 $715,000 $3,037 7.52%

    2023 saw Southern Bank place emphasis on $100,000 or less loans with 638 originations, totaling $32,950,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 246 $33,310,000 $135,407 $1,940 7.59%
    $50k or less 202 $13,880,000 $68,713 $1,748 7.75%
    $50k-75k 199 $17,845,000 $89,673 $1,951 7.66%
    $75k-100k 177 $21,625,000 $122,175 $1,945 7.69%
    $150k-250k 135 $26,185,000 $193,963 $2,431 7.65%
    $250k+ 71 $21,835,000 $307,535 $3,062 7.67%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 251 $33,115,000 $131,932 $2,042 7.41%
    30-36% 165 $22,235,000 $134,758 $2,038 7.64%
    <20% 164 $18,330,000 $111,768 $1,863 7.56%
    37% 32 $4,800,000 $150,000 $2,363 7.49%
    38% 31 $3,425,000 $110,484 $2,334 7.75%
    43% 29 $4,285,000 $147,759 $1,782 7.63%
    39% 28 $4,280,000 $152,857 $1,896 7.86%
    42% 26 $3,470,000 $133,462 $2,013 7.69%
    40% 26 $3,180,000 $122,308 $1,931 7.69%
    44% 26 $4,670,000 $179,615 $2,140 7.78%
    36% 22 $2,460,000 $111,818 $1,828 7.67%
    50-60% 21 $4,455,000 $212,143 $2,047 7.33%
    41% 17 $2,525,000 $148,529 $2,308 7.81%
    45% 16 $1,640,000 $102,500 $1,616 7.74%
    >60% 12 $2,530,000 $210,833 $1,773 7.68%
    46% 10 $1,790,000 $179,000 $1,867 7.45%
    47% 4 $790,000 $197,500 $2,573 7.56%
    49% 4 $910,000 $227,500 $2,532 7.72%
    48% 3 $335,000 $111,667 $2,403 8.04%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,033 $137,475,000 $133,083 $2,021 7.65%
    Not applicable 240 $110,780,000 $461,583 $0 7.93%
    Not provided 15 $1,805,000 $120,333 $1,992 7.84%
    Asian 5 $725,000 $145,000 $0 7.75%
    Black 10 $490,000 $49,000 $1,411 7.93%
    American Indian 1 $125,000 $125,000 $1,637 6.63%

    Approval Rates

    Total approvals of all applications
    94.65%

    Southern Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.27%

    Southern Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,304 $251,400,000 $192,791

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,304 $251,400,000 $192,791

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 239 $21,875,000 $91,527 $1,603 7.63%
    40-60% 178 $32,500,000 $182,584 $1,930 7.67%
    60-80% 362 $122,620,000 $338,729 $1,984 7.65%
    80-100% 315 $64,805,000 $205,730 $2,264 7.64%
    Over 100% 1 $65,000 $65,000 $0 7.75%
    Under 20% 209 $9,535,000 $45,622 $1,421 8.03%