Mortgage One Of The South Rates, Fees & Info

Fort Walton Beach, FL

LEI: 549300ZK7CUY4GNBNC41

Tax ID: 65-0924915

5 stars - out of 5 stars, based on 22 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Mortgage One Of The South is a smaller mortgage company specializing in Home Purchase and Refi loans. Mortgage One Of The South has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets include Crestview, Pensacola, and Panama City among others. Mortgage One Of The South has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Mortgage One Of The South is typically an average fee lendor.


Originations

490

Origination Dollar Volume (All Markets)

$139,700,000
Show all (11) awards

Relative Rate

Mortgage One Of The South 's average 30 year fixed rate mortgage of loans were 2.55%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.6%.

Relative Fees

Mortgage One Of The South 's average total fees for a 30 year fixed rate mortgage are $5,709.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 318 $90,640,000 $285,031 $5,523 2.55%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 163 $46,325,000 $284,202 $5,419 2.47%
PANAMA CITY, FL (FHA|USDA|VA) 8 $2,450,000 $306,250 $3,903 2.66%
Outside of Metro Areas 1 $285,000 $285,000 $4,993 2.50%

Mortgage One Of The South 's top markets include Crestview, Pensacola, and Panama City among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
VA 248 $77,680,000 $313,226 $7,016 2.36%
Conventional 209 $54,075,000 $258,732 $3,483 2.72%
FHA 22 $5,310,000 $241,364 $6,807 2.40%
USDA 11 $2,635,000 $239,545 $5,113 2.56%

For the 2021 period, Mortgage One Of The South 's most frequently originated loan type of loans were VA, with 248 originations. Their 2nd most popular type is Conventional, with 209 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 326 $98,720,000 $302,822 $6,289 2.56%
Refi 154 $38,060,000 $247,143 $3,629 2.44%
Cash Out Refi 9 $2,385,000 $265,000 $6,899 2.58%
Home Improvement 1 $535,000 $535,000 $5,370 2.13%

For the 2021, Mortgage One Of The South 's most frequently cited loan purpose of loans were Home Purchase, with 326 originations. The 2nd most popular reason of loans were Refi, with 154 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 446 $130,360,000 $292,287 $5,709 2.55%
15 Year 35 $7,485,000 $213,857 $2,983 2.18%
20 Year 5 $1,035,000 $207,000 $2,909 2.40%
Other 3 $655,000 $218,333 $2,869 2.46%
10 Year 1 $165,000 $165,000 $2,365 2.13%

For the 2021, Mortgage One Of The South 's most frequently cited loan length of loans were 30 Year, with 446 originations. The 2nd most popular length of loans were 15 Year, with 35 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 470 $133,610,000 $284,277
$1k-2k 11 $3,665,000 $333,182
$2k-3k 5 $1,285,000 $257,000
$3k-4k 2 $430,000 $215,000
$5k+ 1 $515,000 $515,000

$5,709 of loans were Mortgage One Of The South 's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 470 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
<2.5% 327 $93,735,000 $286,651
2.5-3% 120 $36,010,000 $300,083
3-4% 41 $9,605,000 $234,268
4-5% 2 $350,000 $175,000

During 2021, Mortgage One Of The South 's average interest rate of loans were 2.55%, while their most frequently originated rate bucket of loans were <2.5%, with 327 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 313 $90,195,000 $288,163 $5,750 2.50%
$100k-200k 102 $16,050,000 $157,353 $3,513 2.61%
$400k-600k 59 $28,365,000 $480,763 $7,618 2.50%
$100,000 or less 10 $850,000 $85,000 $2,210 2.46%
$600k-1MM 6 $4,240,000 $706,667 $7,371 2.58%

2021 saw Mortgage One Of The South place emphasis on $200k-400k loans with 313 originations, totaling $90,195,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 133 $40,985,000 $308,158 $5,206 2.51%
$50k-75k 133 $33,325,000 $250,564 $6,527 2.48%
$75k-100k 86 $25,040,000 $291,163 $5,517 2.53%
$150k-250k 69 $25,345,000 $367,319 $4,997 2.59%
$50k or less 54 $9,600,000 $177,778 $4,213 2.55%
$250k+ 15 $5,405,000 $360,333 $4,542 2.53%

Mortgage One Of The South lent most frequently to those with incomes in the $100k-150k range, with 133 originations. The second most popular income band? $50k-75k, with 133 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 123 $34,935,000 $284,024 $4,877 2.57%
30-36% 85 $24,175,000 $284,412 $5,335 2.51%
<20% 50 $13,640,000 $272,800 $4,400 2.44%
50-60% 38 $12,180,000 $320,526 $7,846 2.35%
39% 21 $5,455,000 $259,762 $5,148 2.49%
36% 20 $5,940,000 $297,000 $5,729 2.59%
44% 17 $4,365,000 $256,765 $4,983 2.64%
45% 17 $5,165,000 $303,824 $4,505 2.54%
38% 15 $4,505,000 $300,333 $5,199 2.42%
42% 15 $4,025,000 $268,333 $6,810 2.84%
46% 14 $4,060,000 $290,000 $5,856 2.46%
43% 12 $3,110,000 $259,167 $6,369 2.68%
40% 11 $3,015,000 $274,091 $5,674 2.60%
49% 11 $3,055,000 $277,727 $5,852 2.36%
41% 11 $4,115,000 $374,091 $7,808 2.56%
48% 10 $2,180,000 $218,000 $5,257 2.48%
37% 10 $3,030,000 $303,000 $5,143 2.46%
47% 10 $2,750,000 $275,000 $6,655 2.53%

Mortgage One Of The South lent most frequently to those with DTI ratios of 20-30%, with 123 originations. The next most common DTI ratio? 30-36%, with 85 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 297 $82,925,000 $279,209 $5,176 2.53%
Not provided 157 $45,825,000 $291,879 $5,898 2.50%
Asian 22 $6,520,000 $296,364 $5,831 2.56%
Black 11 $3,565,000 $324,091 $6,739 2.60%
American Indian 2 $740,000 $370,000 $3,356 2.63%
Native Hawaiian 1 $125,000 $125,000 $3,015 3.25%

Approval Rates

Total approvals of all applications
96.40%

Mortgage One Of The South 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
85.91%

Mortgage One Of The South has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 490 $139,700,000 $285,102

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
490 $139,700,000 $285,102

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 23 $3,415,000 $148,478 $2,761 2.43%
40-60% 49 $10,865,000 $221,735 $3,246 2.47%
60-80% 128 $35,430,000 $276,797 $3,413 2.67%
80-100% 222 $67,740,000 $305,135 $5,622 2.50%
Over 100% 66 $21,840,000 $330,909 $11,445 2.39%
Under 20% 2 $410,000 $205,000 $5,442 2.25%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
MORTGAGE FIRM, INC., THE Conventional home mortgage Trouble during payment process 2 100.0%