First State Bank Of The South Mortgage Rates, Fees & Info
Sulligent, ALLEI: 549300ZABGDYBUG68F18
Tax ID: 63-0903224
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Mortgage Data
Review & Overview
First State Bank Of The South is a smaller bank specializing in Refi and Home Purchase loans. First State Bank Of The South has a high proportion of conventional loans. Their top markets by origination volume include: Tuscaloosa, Daphne, Huntsville, Auburn, and Florence among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)First State Bank Of The South 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.
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Originations
37Origination Dollar Volume (All Markets)
$3,975,000Top 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 | 27 | $2,335,000 | $86,481 | $1,862 | 8.99% |
| TUSCALOOSA, AL (FHA|USDA|VA) | 3 | $455,000 | $151,667 | $2,019 | 9.08% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $0 | 8.50% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 4 | $430,000 | $107,500 | $0 | 8.69% |
| AUBURN-OPELIKA, AL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 8.99% |
| FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $1,780 | 8.99% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 37 | $3,975,000 | $107,432 | $1,872 | 8.95% |
For 2024, First State Bank Of The South's most frequently originated type of loan was Conventional, with 37 originations.
Loan Reason
For 2024, First State Bank Of The South's most frequently cited loan purpose was Refi, with 15 originations. The 2nd most popular reason was Cash Out Refi, with 11 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 20 | $1,930,000 | $96,500 | $1,950 | 8.97% |
| 5 Year | 16 | $2,030,000 | $126,875 | $1,771 | 8.92% |
| 3 Year | 1 | $15,000 | $15,000 | $692 | 8.99% |
For 2024, First State Bank Of The South's most frequently cited loan duration was Other, with 20 originations. The 2nd most popular length was 5 Year, with 16 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 11 | $845,000 | $76,818 |
| $<1k | 8 | $260,000 | $32,500 |
| $2k-3k | 2 | $570,000 | $285,000 |
| $3k-4k | 2 | $500,000 | $250,000 |
First State Bank Of The South's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 11 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 32 | $3,200,000 | $100,000 |
| 7-8% | 4 | $690,000 | $172,500 |
| 4-5% | 1 | $85,000 | $85,000 |
During 2024, First State Bank Of The South's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 32 originations.
Loan Sizing
2024 saw First State Bank Of The South place emphasis on $100,000 or less loans with 26 originations, totaling $1,250,000 in origination value.
Applicant Income
First State Bank Of The South lent most frequently to those with incomes in the $50k or less range, with 9 originations. The second most popular income band? $50k-75k, with 7 originations.
Applicant Debt to Income Ratio
First State Bank Of The South lent most frequently to those with DTI ratios of <20%, with 6 originations. The next most common DTI ratio? 50-60%, with 5 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.00%
First State Bank Of The South has an average approval rate.
Pick Rate
Approvals leading to origination97.30%
First State Bank Of The South has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 37 | $3,975,000 | $107,432 |