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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 4/21/24 |
| 30 Year Conventional Purchase | 7.00% | 4/21/24 |
| 30 Year Conventional Refi | 6.91% | 4/21/24 |
| 30 Year Cash-out Refi | 6.54% | 4/21/24 |
| 30 Year USDA Purchase | 6.77% | 4/21/24 |
| 15 Year Conventional Purchase | 6.79% | 4/21/24 |
| 15 Year Conventional Refi | 6.67% | 4/21/24 |
| 15 Year Cash-out Refi | 6.67% | 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 Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,835Origination Dollar Volume (All Markets)
$453,545,000Awards
Southern Bank - 2022
Southern Bank is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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% |
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
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
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
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
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
2022 saw Southern Bank place emphasis on $100,000 or less loans with 929 originations, totaling $50,345,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications95.77%
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 origination91.34%
Southern Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,835 | $453,545,000 | $247,163 |