First State Bank Of The South Mortgage Rates, Fees & Info

Sulligent, AL

LEI: 549300ZABGDYBUG68F18

Tax ID: 63-0903224

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • 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: Huntsville, Daphne, and Tuscaloosa among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First State Bank Of The South has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

    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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    Originations

    51

    Origination Dollar Volume (All Markets)

    $5,715,000

    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 40 $3,770,000 $94,250 $2,216 6.99%
    HUNTSVILLE, AL (FHA|USDA|VA) 7 $1,485,000 $212,143 $2,555 6.25%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $295,000 $295,000 $0 5.99%
    TUSCALOOSA, AL (FHA|USDA|VA) 3 $165,000 $55,000 $0 5.75%
    First State Bank Of The South's top markets include Huntsville, Daphne, and Tuscaloosa among others.

    Their top states include:
  • Alabama (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 51 $5,715,000 $112,059 $2,249 6.80%

    For 2019, First State Bank Of The South's most frequently originated type of loan was Conventional, with 51 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 22 $2,570,000 $116,818 $1,460 6.80%
    Home Purchase 16 $2,060,000 $128,750 $2,677 6.76%
    Cash Out Refi 9 $875,000 $97,222 $3,079 6.55%
    Other 3 $175,000 $58,333 $1,402 7.66%
    Home Improvement 1 $35,000 $35,000 $1,726 6.99%

    For 2019, First State Bank Of The South's most frequently cited loan purpose was Refi, with 22 originations. The 2nd most popular reason was Home Purchase, with 16 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    5 Year 50 $5,660,000 $113,200 $2,249 6.74%
    Other 1 $55,000 $55,000 $0 9.50%

    For 2019, First State Bank Of The South's most frequently cited loan duration was 5 Year, with 50 originations. The 2nd most popular length was Other, with 1 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 26 $2,520,000 $96,923
    $1k-2k 3 $455,000 $151,667
    $2k-3k 1 $245,000 $245,000
    $3k-4k 1 $385,000 $385,000

    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 bucket, with 26 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 16 $2,920,000 $182,500
    6-7% 16 $1,490,000 $93,125
    7-8% 12 $400,000 $33,333
    Over 8% 5 $145,000 $29,000
    4-5% 2 $760,000 $380,000

    During 2019, 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 5-6%, with 16 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 36 $1,470,000 $40,833 $1,615 7.15%
    $100k-200k 8 $1,180,000 $147,500 $3,178 5.93%
    $200k-400k 4 $1,240,000 $310,000 $6,836 6.49%
    $600k-1MM 2 $1,370,000 $685,000 $3,093 5.00%
    $400k-600k 1 $455,000 $455,000 $0 5.99%

    2019 saw First State Bank Of The South place emphasis on $100,000 or less loans with 36 originations, totaling $1,470,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 12 $550,000 $45,833 $1,774 7.31%
    $50k-75k 11 $385,000 $35,000 $1,584 7.18%
    $75k-100k 8 $1,080,000 $135,000 $1,781 6.27%
    $100k-150k 6 $1,030,000 $171,667 $4,422 6.54%
    $250k+ 3 $785,000 $261,667 $4,734 6.66%
    $150k-250k 2 $250,000 $125,000 $0 6.00%

    First State Bank Of The South lent most frequently to those with incomes in the $50k or less range, with 12 originations. The second most popular income band? $50k-75k, with 11 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 9 $1,285,000 $142,778 $2,366 6.83%
    <20% 8 $360,000 $45,000 $1,735 6.65%
    30-36% 8 $450,000 $56,250 $1,820 7.12%
    >60% 4 $1,070,000 $267,500 $4,369 6.25%
    50-60% 3 $55,000 $18,333 $943 7.32%
    47% 2 $170,000 $85,000 $1,474 6.50%
    41% 2 $270,000 $135,000 $3,409 6.99%
    44% 1 $25,000 $25,000 $0 9.50%
    46% 1 $145,000 $145,000 $3,381 5.99%
    37% 1 $125,000 $125,000 $0 6.00%
    36% 1 $65,000 $65,000 $2,360 6.99%
    38% 1 $25,000 $25,000 $1,328 6.99%
    42% 1 $35,000 $35,000 $1,726 6.99%

    First State Bank Of The South lent most frequently to those with DTI ratios of 20-30%, with 9 originations. The next most common DTI ratio? <20%, with 8 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 41 $4,015,000 $97,927 $2,247 6.85%
    Not applicable 9 $1,635,000 $181,667 $0 6.52%
    Black 1 $65,000 $65,000 $2,323 7.25%

    Approval Rates

    Total approvals of all applications
    87.69%

    First State Bank Of The South has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.24%

    First State Bank Of The South has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 51 $5,715,000 $112,059

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 4 $190,000 $47,500
    Single Family (1-4 Units):Site-Built 47 $5,525,000 $117,553

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 12 $330,000 $27,500 $1,380 7.70%
    40-60% 10 $1,460,000 $146,000 $2,615 6.30%
    60-80% 12 $1,460,000 $121,667 $2,260 6.52%
    80-100% 11 $1,725,000 $156,818 $3,316 6.49%
    Over 100% 3 $665,000 $221,667 $0 6.66%
    Under 20% 3 $75,000 $25,000 $1,197 7.24%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    FIRST NATIONAL BANK OF OMAHA Conventional home mortgage Trouble during payment process 3 50.0%
    FIRST NATIONAL BANK OF OMAHA Conventional home mortgage Closing on a mortgage 2 33.3%
    FIRST NATIONAL BANK OF OMAHA Conventional home mortgage Struggling to pay mortgage 1 16.7%