Banksouth Mortgage Company Rates, Fees & Info

Greensboro, GA

LEI: 549300ZN5MIVRMVHJS09

Tax ID: 27-4370581

4.1 stars - out of 5 stars, based on 80 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Banksouth Mortgage Company is a small bank specializing in Home Purchase loans. Banksouth Mortgage Company has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Atlanta, Savannah, Augusta, Athens, and Seneca among others. Banksouth Mortgage Company 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. Banksouth Mortgage Company is typically an average fee lendor.


Originations

6,408

Origination Dollar Volume (All Markets)

$2,018,910,000
Show all (8) awards

Relative Rate

Banksouth Mortgage Company 's average 30 year fixed rate mortgage of loans were 3.05%.

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

This yields a difference of -0.1%.

Relative Fees

Banksouth Mortgage Company 's average total fees for a 30 year fixed rate mortgage are $5,937.

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
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 3,502 $1,202,210,000 $343,292 $5,626 3.03%
SAVANNAH, GA (FHA|USDA|VA) 1,050 $284,800,000 $271,238 $6,304 2.95%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 548 $140,860,000 $257,044 $6,543 2.91%
Outside of Metro Areas 386 $131,590,000 $340,907 $5,305 3.04%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 268 $70,190,000 $261,903 $5,446 3.05%
Seneca, SC (FHA|USDA|VA) 75 $25,495,000 $339,933 $3,790 2.89%
GAINESVILLE, GA (FHA|USDA|VA) 40 $13,530,000 $338,250 $4,588 2.88%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 46 $10,960,000 $238,261 $3,806 2.95%
HINESVILLE, GA (FHA|USDA|VA) 49 $10,355,000 $211,327 $7,877 2.79%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 30 $10,110,000 $337,000 $5,149 2.97%
Jefferson, GA (FHA|USDA|VA) 35 $8,685,000 $248,143 $5,284 2.94%
Statesboro, GA (FHA|USDA|VA) 36 $7,630,000 $211,944 $5,654 3.14%
JACKSONVILLE, FL (FHA|USDA|VA) 8 $5,920,000 $740,000 $8,273 3.14%
BRUNSWICK, GA (FHA|USDA|VA) 13 $5,775,000 $444,231 $5,843 3.00%
Milledgeville, GA (FHA|USDA|VA) 17 $5,555,000 $326,765 $5,347 3.13%
DALTON, GA (FHA|USDA|VA) 29 $5,305,000 $182,931 $5,906 2.99%
VALDOSTA, GA (FHA|USDA|VA) 25 $5,095,000 $203,800 $5,801 2.92%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 5 $4,505,000 $901,000 $9,561 3.15%
MACON-BIBB COUNTY, GA (FHA|USDA|VA) 17 $4,445,000 $261,471 $7,892 3.21%
Calhoun, GA (FHA|USDA|VA) 17 $3,695,000 $217,353 $6,483 2.92%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 11 $3,505,000 $318,636 $6,346 2.90%
Cullowhee, NC (FHA|USDA|VA) 7 $3,505,000 $500,714 $7,815 3.00%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 7 $2,665,000 $380,714 $3,711 3.09%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 7 $2,625,000 $375,000 $5,278 2.93%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 7 $2,585,000 $369,286 $5,232 2.91%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 3 $2,575,000 $858,333 $13,145 3.25%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 10 $2,470,000 $247,000 $5,451 3.09%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 9 $2,335,000 $259,444 $6,260 2.86%
ROME, GA (FHA|USDA|VA) 7 $2,035,000 $290,714 $7,869 2.96%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 5 $1,915,000 $383,000 $5,695 3.03%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 5 $1,875,000 $375,000 $5,792 3.00%
LaGrange, GA-AL (FHA|USDA|VA) 7 $1,765,000 $252,143 $4,297 3.11%
TALLAHASSEE, FL (FHA|USDA|VA) 4 $1,690,000 $422,500 $4,676 2.72%
COLUMBUS, GA-AL (FHA|USDA|VA) 9 $1,525,000 $169,444 $5,092 3.47%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 5 $1,465,000 $293,000 $3,557 3.13%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $1,405,000 $1,405,000 $17,441 3.00%
ASHEVILLE, NC (FHA|USDA|VA) 5 $1,365,000 $273,000 $4,294 3.25%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 2 $1,110,000 $555,000 $6,885 3.31%
Vidalia, GA (FHA|USDA|VA) 5 $1,065,000 $213,000 $4,863 3.08%
PANAMA CITY, FL (FHA|USDA|VA) 4 $1,030,000 $257,500 $4,077 3.06%
FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 1 $935,000 $935,000 $16,534 2.75%
RALEIGH-CARY, NC (FHA|USDA|VA) 2 $890,000 $445,000 $4,879 2.56%
WARNER ROBINS, GA (FHA|USDA|VA) 6 $890,000 $148,333 $3,791 3.10%
Thomasville, GA (FHA|USDA|VA) 4 $860,000 $215,000 $5,806 3.16%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 3 $815,000 $271,667 $5,581 2.75%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 3 $785,000 $261,667 $3,071 3.67%
COLUMBIA, SC (FHA|USDA|VA) 5 $775,000 $155,000 $4,211 2.83%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 2 $720,000 $360,000 $6,290 3.06%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $705,000 $705,000 $4,967 2.88%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 3 $635,000 $211,667 $3,115 3.13%
GREENVILLE, NC (FHA|USDA|VA) 1 $595,000 $595,000 $4,075 2.88%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 2 $580,000 $290,000 $3,593 3.31%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 2 $510,000 $255,000 $7,052 2.94%
ANCHORAGE, AK (FHA|USDA|VA) 1 $475,000 $475,000 $7,134 3.00%
OCALA, FL (FHA|USDA|VA) 2 $460,000 $230,000 $7,353 2.69%
Cedartown, GA (FHA|USDA|VA) 3 $445,000 $148,333 $5,586 2.96%
WINCHESTER, VA-WV (FHA|USDA|VA) 1 $405,000 $405,000 $3,609 3.38%
KNOXVILLE, TN (FHA|USDA|VA) 2 $400,000 $200,000 $5,757 3.25%
SPARTANBURG, SC (FHA|USDA|VA) 2 $400,000 $200,000 $2,505 3.13%
Sevierville, TN (FHA|USDA|VA) 1 $375,000 $375,000 $7,843 2.88%
Glenwood Springs, CO (FHA|USDA|VA) 1 $365,000 $365,000 $4,733 3.50%
Cordele, GA (FHA|USDA|VA) 1 $365,000 $365,000 $9,254 3.25%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $365,000 $365,000 $4,852 3.38%
BATON ROUGE, LA (FHA|USDA|VA) 1 $355,000 $355,000 $3,640 3.25%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $345,000 $345,000 $4,811 2.13%
CLEVELAND, TN (FHA|USDA|VA) 2 $340,000 $170,000 $3,946 3.31%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $325,000 $325,000 $0 3.63%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $315,000 $315,000 $0 2.63%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $315,000 $315,000 $4,936 3.13%
BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 2 $300,000 $150,000 $3,778 3.31%
MONTGOMERY, AL (FHA|USDA|VA) 1 $285,000 $285,000 $6,207 3.00%
Toccoa, GA (FHA|USDA|VA) 1 $275,000 $275,000 $5,612 3.38%
TULSA, OK (FHA|USDA|VA) 1 $275,000 $275,000 $4,134 3.25%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 1 $255,000 $255,000 $3,689 2.25%
TUSCALOOSA, AL (FHA|USDA|VA) 1 $245,000 $245,000 $4,832 2.88%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 1 $245,000 $245,000 $0 3.88%
JOHNSON CITY, TN (FHA|USDA|VA) 1 $235,000 $235,000 $3,537 3.38%
Dublin, GA (FHA|USDA|VA) 1 $235,000 $235,000 $6,812 2.50%
ALBANY, GA (FHA|USDA|VA) 3 $225,000 $75,000 $4,921 3.50%
Newberry, SC (FHA|USDA|VA) 1 $225,000 $225,000 $5,114 2.38%
Brevard, NC (FHA|USDA|VA) 1 $225,000 $225,000 $3,704 3.50%
MIDLAND, TX (FHA|USDA|VA) 1 $215,000 $215,000 $8,986 3.13%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $215,000 $215,000 $1,264 2.75%
Tifton, GA (FHA|USDA|VA) 1 $205,000 $205,000 $5,664 3.38%
THE VILLAGES, FL (FHA|USDA|VA) 1 $195,000 $195,000 $5,129 3.50%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 1 $195,000 $195,000 $4,670 3.25%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 1 $185,000 $185,000 $5,365 2.88%
Jesup, GA (FHA|USDA|VA) 1 $185,000 $185,000 $5,727 2.88%
Thomaston, GA (FHA|USDA|VA) 1 $185,000 $185,000 $8,365 3.63%
Boone, NC (FHA|USDA|VA) 1 $175,000 $175,000 $2,588 3.25%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $155,000 $155,000 $2,243 3.13%
Cornelia, GA (FHA|USDA|VA) 1 $145,000 $145,000 $3,076 2.50%
ROCKY MOUNT, NC (FHA|USDA|VA) 1 $145,000 $145,000 $2,225 2.63%
Morehead City, NC (FHA|USDA|VA) 1 $125,000 $125,000 $1,795 3.50%
Douglas, GA (FHA|USDA|VA) 1 $125,000 $125,000 $4,566 2.88%
Athens, TN (FHA|USDA|VA) 1 $115,000 $115,000 $3,996 3.63%
PITTSBURGH, PA (FHA|USDA|VA) 1 $85,000 $85,000 $3,159 2.63%
FLORENCE, SC (FHA|USDA|VA) 1 $75,000 $75,000 $3,281 3.13%
North Wilkesboro, NC (FHA|USDA|VA) 1 $65,000 $65,000 $0 4.88%
ANNISTON-OXFORD, AL (FHA|USDA|VA) 1 $65,000 $65,000 $3,210 3.25%
FAYETTEVILLE, NC (FHA|USDA|VA) 1 $65,000 $65,000 $0 4.38%

Banksouth Mortgage Company 's top markets include Atlanta, Savannah, Augusta, Athens, and Seneca among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 4,787 $1,586,655,000 $331,451 $4,774 3.09%
FHA 925 $224,285,000 $242,470 $9,107 2.78%
VA 583 $184,655,000 $316,732 $7,938 2.69%
USDA 113 $23,315,000 $206,327 $6,245 2.75%

For the 2021 period, Banksouth Mortgage Company 's most frequently originated loan type of loans were Conventional, with 4,787 originations. Their 2nd most popular type is FHA, with 925 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 4,868 $1,524,580,000 $313,184 $6,182 3.00%
Refi 996 $321,730,000 $323,022 $4,168 2.90%
Cash Out Refi 488 $153,920,000 $315,410 $4,851 3.21%
Other 37 $10,135,000 $273,919 $4,832 3.29%
Home Improvement 19 $8,545,000 $449,737 $9,728 3.72%

For the 2021, Banksouth Mortgage Company 's most frequently cited loan purpose of loans were Home Purchase, with 4,868 originations. The 2nd most popular reason of loans were Refi, with 996 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 5,755 $1,849,325,000 $321,342 $5,937 3.05%
15 Year 492 $122,920,000 $249,837 $3,943 2.49%
20 Year 91 $23,275,000 $255,769 $4,162 2.93%
30+ year 31 $15,385,000 $496,290 $10,157 3.92%
Other 27 $6,495,000 $240,556 $3,428 2.92%
10 Year 12 $1,510,000 $125,833 $3,270 2.64%

For the 2021, Banksouth Mortgage Company 's most frequently cited loan length of loans were 30 Year, with 5,755 originations. The 2nd most popular length of loans were 15 Year, with 492 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 3,005 $995,475,000 $331,273
$3k-4k 1,274 $369,550,000 $290,071
$2k-3k 954 $248,580,000 $260,566
$<1k 509 $164,215,000 $322,623
$5k+ 300 $165,510,000 $551,700

$5,937 of loans were Banksouth Mortgage Company 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 3,005 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 2,749 $896,055,000 $325,957
3-4% 2,611 $848,965,000 $325,149
<2.5% 910 $244,850,000 $269,066
4-5% 136 $28,390,000 $208,750
5-6% 2 $650,000 $325,000

During 2021, Banksouth Mortgage Company 's average interest rate of loans were 3.05%, while their most frequently originated rate bucket of loans were 2.5-3%, with 2,749 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 3,448 $963,740,000 $279,507 $6,141 2.97%
$100k-200k 1,390 $222,290,000 $159,921 $4,566 3.05%
$400k-600k 1,098 $532,040,000 $484,554 $5,607 3.00%
$600k-1MM 239 $178,025,000 $744,874 $7,012 3.08%
$100,000 or less 157 $12,575,000 $80,096 $3,467 3.18%
$1MM+ 76 $110,240,000 $1,450,526 $10,649 3.13%

2021 saw Banksouth Mortgage Company place emphasis on $200k-400k loans with 3,448 originations, totaling $963,740,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 1,526 $352,360,000 $230,904 $6,111 2.95%
$100k-150k 1,386 $454,190,000 $327,698 $5,620 3.03%
$75k-100k 1,196 $328,500,000 $274,666 $5,967 3.01%
$150k-250k 999 $413,975,000 $414,389 $5,367 3.06%
$50k or less 675 $115,085,000 $170,496 $5,398 2.96%
$250k+ 545 $329,685,000 $604,927 $6,196 3.11%

Banksouth Mortgage Company lent most frequently to those with incomes in the $50k-75k range, with 1,526 originations. The second most popular income band? $100k-150k, with 1,386 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 1,293 $420,435,000 $325,162 $5,016 3.01%
30-36% 1,197 $392,485,000 $327,891 $5,460 3.05%
<20% 494 $158,080,000 $320,000 $4,576 2.91%
50-60% 335 $89,625,000 $267,537 $8,978 2.74%
43% 264 $74,370,000 $281,705 $6,004 3.06%
42% 263 $91,375,000 $347,433 $6,225 3.04%
38% 256 $82,960,000 $324,063 $5,975 3.09%
44% 252 $70,690,000 $280,516 $5,842 3.06%
41% 248 $78,420,000 $316,210 $5,620 3.08%
39% 241 $74,515,000 $309,191 $5,956 3.06%
40% 238 $74,310,000 $312,227 $5,793 3.00%
37% 231 $83,735,000 $362,489 $5,876 3.11%
36% 226 $75,000,000 $331,858 $5,964 3.04%
46% 174 $49,870,000 $286,609 $6,468 2.95%
45% 172 $49,600,000 $288,372 $6,156 3.02%
49% 162 $45,360,000 $280,000 $6,575 2.94%
48% 160 $47,540,000 $297,125 $6,299 3.03%
47% 152 $44,860,000 $295,132 $6,643 2.96%
>60% 3 $1,275,000 $425,000 $10,585 2.83%

Banksouth Mortgage Company lent most frequently to those with DTI ratios of 20-30%, with 1,293 originations. The next most common DTI ratio? 30-36%, with 1,197 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 4,317 $1,391,045,000 $322,225 $5,401 3.02%
Black 1,040 $288,510,000 $277,413 $7,124 2.95%
Not provided 762 $241,620,000 $317,087 $6,006 3.00%
Asian 216 $74,470,000 $344,769 $5,439 3.02%
Asian Indian 34 $12,230,000 $359,706 $4,838 2.99%
American Indian 20 $4,900,000 $245,000 $6,058 2.93%
Native Hawaiian 4 $1,670,000 $417,500 $8,424 2.72%
Other Asian 6 $1,440,000 $240,000 $7,715 3.17%
Chinese 4 $1,380,000 $345,000 $4,023 3.06%
Other Pacific Islander 2 $590,000 $295,000 $9,001 3.06%
Korean 1 $465,000 $465,000 $3,512 3.13%
Vietnamese 1 $315,000 $315,000 $0 4.38%
Filipino 1 $275,000 $275,000 $8,775 3.00%

Approval Rates

Total approvals of all applications
96.41%

Banksouth Mortgage Company 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
82.07%

Banksouth Mortgage Company has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 6,408 $2,018,910,000 $315,061

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
6,408 $2,018,910,000 $315,061

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 207 $49,015,000 $236,787 $3,834 2.85%
40-60% 581 $175,495,000 $302,057 $4,059 2.92%
60-80% 1,982 $679,480,000 $342,825 $4,866 3.14%
80-100% 3,417 $1,047,475,000 $306,548 $6,248 2.97%
Over 100% 205 $64,985,000 $317,000 $11,969 2.68%
Under 20% 16 $2,460,000 $153,750 $3,120 2.74%