South State Bank Mortgage Rates, Fees & Info

Winter Haven, FL

LEI: 8I3UVGYULPJQIP7FQV10

Tax ID: 59-2979916

5 stars - Updated: 5/27/24 - out of 5 stars, based on 102 reviews

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

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Mortgage Data

Review & Overview

South State Bank is a mid-sized bank specializing in Home Purchase loans. South State Bank 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 by origination volume include: Atlanta, Charleston, Greenville, Charlotte, and Orlando among others. We have data for 153 markets. (Some data included below & more in-depth data is available with an active subscription.)

South State Bank 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. South State Bank is typically an average 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.27% 5/27/24
30 Year Conventional Purchase 6.58% 5/27/24
30 Year Conventional Refi 6.51% 5/27/24
30 Year Cash-out Refi 6.73% 5/27/24
30 Year FHA Purchase 7.12% 5/27/24
30 Year FHA Refi 7.02% 5/27/24
30 Year VA Purchase 6.06% 5/27/24
30 Year VA Refi 5.94% 5/27/24
30 Year USDA Purchase 6.63% 5/27/24
15 Year Conventional Purchase 7.17% 5/27/24
15 Year Conventional Refi 6.38% 5/27/24
15 Year Cash-out Refi 6.38% 5/27/24
15 Year VA Purchase 5.70% 5/27/24
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.

South State Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from South State Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

10,476

Origination Dollar Volume (All Markets)

$3,211,310,000
Show all (25) awards

Relative Rate

South State Bank's average 30 year fixed mortgage rate was 6.54%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.06%.

Relative Fees (Closing Costs)

South State Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $6,951.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 788 $311,740,000 $395,609 $6,863 6.66%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 867 $304,045,000 $350,686 $6,495 6.92%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 666 $238,840,000 $358,619 $5,430 6.88%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 750 $228,110,000 $304,147 $5,877 6.74%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 626 $172,840,000 $276,102 $8,059 6.66%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 619 $154,325,000 $249,313 $6,523 6.26%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 464 $116,680,000 $251,466 $6,484 6.67%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 314 $111,690,000 $355,701 $7,199 6.68%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 264 $105,020,000 $397,803 $8,307 7.20%
JACKSONVILLE, FL (FHA|USDA|VA) 197 $99,625,000 $505,711 $6,535 6.55%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 361 $96,825,000 $268,213 $6,587 6.91%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 332 $78,200,000 $235,542 $6,268 7.24%
COLUMBIA, SC (FHA|USDA|VA) 343 $69,955,000 $203,950 $4,803 6.49%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 144 $69,660,000 $483,750 $7,032 7.04%
Outside of Metro Areas 319 $66,925,000 $209,796 $5,961 7.06%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 68 $63,690,000 $936,618 $6,990 6.68%
HUNTSVILLE, AL (FHA|USDA|VA) 145 $61,495,000 $424,103 $9,919 6.54%
SAVANNAH, GA (FHA|USDA|VA) 154 $57,320,000 $372,208 $5,975 6.88%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 183 $55,235,000 $301,831 $6,864 6.85%
GAINESVILLE, FL (FHA|USDA|VA) 90 $53,520,000 $594,667 $5,748 6.69%
SPARTANBURG, SC (FHA|USDA|VA) 131 $53,405,000 $407,672 $4,717 6.30%
PORT ST. LUCIE, FL (FHA|USDA|VA) 181 $52,005,000 $287,320 $6,722 6.83%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 152 $41,590,000 $273,618 $6,679 6.88%
Seneca, SC (FHA|USDA|VA) 112 $38,830,000 $346,696 $8,005 7.12%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 154 $33,670,000 $218,636 $5,566 6.96%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 195 $33,305,000 $170,795 $7,206 6.95%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 188 $32,940,000 $175,213 $3,506 4.63%
Key West, FL (FHA|USDA|VA) 40 $26,490,000 $662,250 $8,272 7.25%
OCALA, FL (FHA|USDA|VA) 144 $25,490,000 $177,014 $6,230 6.82%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 50 $24,640,000 $492,800 $8,250 6.04%
RALEIGH-CARY, NC (FHA|USDA|VA) 63 $20,925,000 $332,143 $4,985 6.74%
WILMINGTON, NC (FHA|USDA|VA) 61 $19,855,000 $325,492 $7,272 7.09%
Palatka, FL (FHA|USDA|VA) 89 $15,725,000 $176,685 $5,314 6.51%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 67 $15,675,000 $233,955 $5,788 6.70%
Georgetown, SC (FHA|USDA|VA) 62 $15,060,000 $242,903 $5,506 7.29%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 50 $14,780,000 $295,600 $8,120 7.07%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 13 $14,595,000 $1,122,692 $11,327 6.34%
ASHEVILLE, NC (FHA|USDA|VA) 28 $13,560,000 $484,286 $5,608 6.58%
Cornelia, GA (FHA|USDA|VA) 71 $11,295,000 $159,085 $5,072 7.10%
GAINESVILLE, GA (FHA|USDA|VA) 32 $10,140,000 $316,875 $5,816 7.03%
FLORENCE, SC (FHA|USDA|VA) 65 $9,825,000 $151,154 $5,079 6.91%
Greenwood, SC (FHA|USDA|VA) 48 $9,010,000 $187,708 $5,271 7.38%
SEBRING-AVON PARK, FL (FHA|USDA|VA) 60 $8,440,000 $140,667 $6,909 7.14%
RICHMOND, VA (FHA|USDA|VA) 41 $8,195,000 $199,878 $5,285 7.04%
LaGrange, GA-AL (FHA|USDA|VA) 65 $7,105,000 $109,308 $3,813 7.22%
Orangeburg, SC (FHA|USDA|VA) 51 $6,985,000 $136,961 $4,640 6.91%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 15 $6,925,000 $461,667 $6,783 6.04%
Okeechobee, FL (FHA|USDA|VA) 38 $6,380,000 $167,895 $5,770 7.11%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 23 $6,215,000 $270,217 $3,580 6.72%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 10 $5,520,000 $552,000 $8,045 6.25%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 21 $5,345,000 $254,524 $5,308 7.26%
Jefferson, GA (FHA|USDA|VA) 28 $5,110,000 $182,500 $6,938 7.00%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 27 $5,065,000 $187,593 $6,195 5.91%
THE VILLAGES, FL (FHA|USDA|VA) 25 $5,025,000 $201,000 $8,204 7.36%
Cullowhee, NC (FHA|USDA|VA) 3 $4,715,000 $1,571,667 $9,931 6.50%
Arcadia, FL (FHA|USDA|VA) 34 $4,630,000 $136,176 $7,319 7.16%
PUNTA GORDA, FL (FHA|USDA|VA) 22 $4,570,000 $207,727 $4,677 7.02%
BRUNSWICK, GA (FHA|USDA|VA) 9 $4,315,000 $479,444 $7,749 6.60%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $2,955,000 $2,955,000 $0 7.07%
Newberry, SC (FHA|USDA|VA) 12 $2,840,000 $236,667 $7,002 7.50%
FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 11 $2,755,000 $250,455 $6,404 6.30%
TUSCALOOSA, AL (FHA|USDA|VA) 9 $2,675,000 $297,222 $8,713 6.90%
TALLAHASSEE, FL (FHA|USDA|VA) 7 $2,465,000 $352,143 $5,794 7.02%
MONTGOMERY, AL (FHA|USDA|VA) 6 $2,320,000 $386,667 $6,656 6.94%
WINSTON-SALEM, NC (FHA|USDA|VA) 10 $2,000,000 $200,000 $3,684 6.10%
Albemarle, NC (FHA|USDA|VA) 7 $1,875,000 $267,857 $10,604 7.84%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 5 $1,745,000 $349,000 $7,006 6.28%
SUMTER, SC (FHA|USDA|VA) 14 $1,680,000 $120,000 $5,446 6.51%
Marion, NC (FHA|USDA|VA) 5 $1,635,000 $327,000 $7,380 6.30%
PANAMA CITY, FL (FHA|USDA|VA) 6 $1,610,000 $268,333 $6,585 7.33%
Calhoun, GA (FHA|USDA|VA) 5 $1,525,000 $305,000 $9,830 6.93%
COLUMBUS, GA-AL (FHA|USDA|VA) 11 $1,385,000 $125,909 $5,277 7.53%
Toccoa, GA (FHA|USDA|VA) 11 $1,365,000 $124,091 $4,506 7.42%
Shelby, NC (FHA|USDA|VA) 7 $1,355,000 $193,571 $3,486 4.55%
MOBILE, AL (FHA|USDA|VA) 10 $1,350,000 $135,000 $4,592 7.33%
Gaffney, SC (FHA|USDA|VA) 9 $1,325,000 $147,222 $4,358 7.10%
VALDOSTA, GA (FHA|USDA|VA) 3 $1,315,000 $438,333 $11,137 6.63%
Ozark, AL (FHA|USDA|VA) 8 $1,240,000 $155,000 $4,073 5.83%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 3 $1,235,000 $411,667 $7,502 6.50%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 2 $1,230,000 $615,000 $8,269 6.63%
JACKSONVILLE, NC (FHA|USDA|VA) 4 $1,190,000 $297,500 $3,922 6.22%
GREENVILLE, NC (FHA|USDA|VA) 2 $1,170,000 $585,000 $8,285 5.94%
Alexander City, AL (FHA|USDA|VA) 6 $1,160,000 $193,333 $3,845 6.67%
Albertville, AL (FHA|USDA|VA) 5 $1,155,000 $231,000 $3,630 7.08%
HINESVILLE, GA (FHA|USDA|VA) 5 $1,085,000 $217,000 $7,237 6.80%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 4 $940,000 $235,000 $3,031 6.65%
Brevard, NC (FHA|USDA|VA) 3 $795,000 $265,000 $3,702 6.83%
Clewiston, FL (FHA|USDA|VA) 6 $780,000 $130,000 $6,233 7.42%
DOTHAN, AL (FHA|USDA|VA) 6 $780,000 $130,000 $3,304 5.60%
LYNCHBURG, VA (FHA|USDA|VA) 2 $750,000 $375,000 $5,846 6.25%
Cedartown, GA (FHA|USDA|VA) 2 $730,000 $365,000 $12,569 6.88%
Jasper, AL (FHA|USDA|VA) 2 $710,000 $355,000 $3,880 7.25%
FAYETTEVILLE, NC (FHA|USDA|VA) 2 $670,000 $335,000 $3,252 7.56%
Forest City, NC (FHA|USDA|VA) 4 $660,000 $165,000 $4,473 5.31%
DECATUR, AL (FHA|USDA|VA) 3 $625,000 $208,333 $6,595 6.71%
BURLINGTON, NC (FHA|USDA|VA) 2 $600,000 $300,000 $5,530 6.19%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $575,000 $575,000 $9,255 6.38%
MACON-BIBB COUNTY, GA (FHA|USDA|VA) 4 $540,000 $135,000 $5,708 6.94%
Lake City, FL (FHA|USDA|VA) 4 $490,000 $122,500 $1,840 4.97%
St. Marys, GA (FHA|USDA|VA) 1 $485,000 $485,000 $4,163 6.38%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 2 $470,000 $235,000 $6,695 6.50%
Boone, NC (FHA|USDA|VA) 2 $470,000 $235,000 $5,406 7.06%
LOUISVILLE, KY (FHA|USDA|VA) 1 $435,000 $435,000 $3,210 6.38%
Union, SC (FHA|USDA|VA) 5 $405,000 $81,000 $3,125 8.40%
Wilson, NC (FHA|USDA|VA) 4 $400,000 $100,000 $3,272 7.44%
Washington, NC (FHA|USDA|VA) 4 $400,000 $100,000 $0 6.44%
ROME, GA (FHA|USDA|VA) 2 $390,000 $195,000 $4,390 7.13%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $375,000 $375,000 $4,130 7.38%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $365,000 $365,000 $9,420 6.38%
WARNER ROBINS, GA (FHA|USDA|VA) 1 $365,000 $365,000 $3,826 5.88%
Scottsboro, AL (FHA|USDA|VA) 2 $360,000 $180,000 $0 6.38%
Morehead City, NC (FHA|USDA|VA) 4 $360,000 $90,000 $0 7.06%
Talladega-Sylacauga, AL (FHA|USDA|VA) 4 $350,000 $87,500 $5,904 4.84%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $325,000 $325,000 $6,771 6.88%
Danville, VA (FHA|USDA|VA) 3 $325,000 $108,333 $4,203 6.88%
Tupelo, MS (FHA|USDA|VA) 2 $320,000 $160,000 $0 7.38%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 2 $310,000 $155,000 $4,021 6.81%
Cullman, AL (FHA|USDA|VA) 1 $295,000 $295,000 $12,234 6.88%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $295,000 $295,000 $5,298 7.25%
Statesboro, GA (FHA|USDA|VA) 2 $290,000 $145,000 $2,151 6.38%
COLUMBUS, OH (FHA|USDA|VA) 1 $275,000 $275,000 $15,629 6.38%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 1 $265,000 $265,000 $4,058 8.13%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $255,000 $255,000 $3,910 7.25%
Enterprise, AL (FHA|USDA|VA) 2 $250,000 $125,000 $4,548 7.06%
Tullahoma-Manchester, TN (FHA|USDA|VA) 2 $250,000 $125,000 $0 6.13%
Waycross, GA (FHA|USDA|VA) 1 $235,000 $235,000 $3,629 6.75%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 1 $235,000 $235,000 $4,263 5.88%
TULSA, OK (FHA|USDA|VA) 1 $225,000 $225,000 $8,833 6.13%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 2 $200,000 $100,000 $0 7.25%
LAKE CHARLES, LA (FHA|USDA|VA) 1 $185,000 $185,000 $4,805 7.50%
NEW BERN, NC (FHA|USDA|VA) 2 $180,000 $90,000 $0 7.75%
Lumberton, NC (FHA|USDA|VA) 1 $175,000 $175,000 $0 8.50%
Warsaw, IN (FHA|USDA|VA) 1 $165,000 $165,000 $0 8.38%
ROCKY MOUNT, NC (FHA|USDA|VA) 1 $165,000 $165,000 $6,817 5.25%
Bennettsville, SC (FHA|USDA|VA) 2 $160,000 $80,000 $3,359 6.69%
JACKSON, MS (FHA|USDA|VA) 2 $160,000 $80,000 $0 6.75%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $155,000 $155,000 $2,130 6.00%
ANNISTON-OXFORD, AL (FHA|USDA|VA) 1 $155,000 $155,000 $3,915 7.63%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $155,000 $155,000 $4,034 8.00%
Greenville, MS (FHA|USDA|VA) 1 $145,000 $145,000 $0 5.50%
HATTIESBURG, MS (FHA|USDA|VA) 1 $125,000 $125,000 $0 7.50%
Fitzgerald, GA (FHA|USDA|VA) 1 $125,000 $125,000 $6,584 6.88%
LEBANON, PA (FHA|USDA|VA) 1 $115,000 $115,000 $3,494 6.25%
Corinth, MS (FHA|USDA|VA) 1 $115,000 $115,000 $0 6.75%
HOUMA-THIBODAUX, LA (FHA|USDA|VA) 1 $105,000 $105,000 $4,629 6.00%
Mount Airy, NC (FHA|USDA|VA) 1 $105,000 $105,000 $0 6.00%
Laurel, MS (FHA|USDA|VA) 1 $85,000 $85,000 $0 8.25%
KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $75,000 $75,000 $0 7.38%
Picayune, MS (FHA|USDA|VA) 1 $65,000 $65,000 $0 6.75%
Meridian, MS (FHA|USDA|VA) 1 $65,000 $65,000 $0 7.00%
GOLDSBORO, NC (FHA|USDA|VA) 1 $65,000 $65,000 $0 8.75%
Paris, TN (FHA|USDA|VA) 1 $55,000 $55,000 $3,422 6.13%
KNOXVILLE, TN (FHA|USDA|VA) 1 $55,000 $55,000 $2,840 6.00%
South State Bank's top markets include Atlanta, Charleston, Greenville, Charlotte, and Orlando among others.

Their top states include:
  • Florida (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against South State 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 6,103 $2,371,085,000 $388,511 $6,004 6.36%
    HELOC 3,841 $667,035,000 $173,662 n/a 7.43%
    FHA 345 $100,325,000 $290,797 $10,889 6.39%
    VA 177 $70,455,000 $398,051 $9,865 6.12%
    USDA 10 $2,410,000 $241,000 $8,505 6.19%

    For 2023, South State Bank's most frequently originated type of loan was Conventional, with 6,103 originations. Their 2nd most popular type was HELOC, with 3,841 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 6,281 $2,456,335,000 $391,074 $6,518 6.35%
    Home Improvement 2,432 $377,670,000 $155,292 $5,472 7.39%
    Other 824 $147,360,000 $178,835 $4,309 7.33%
    Refi 749 $180,095,000 $240,447 $5,845 7.39%
    Cash Out Refi 190 $49,850,000 $262,368 $5,397 6.69%

    For 2023, South State Bank's most frequently cited loan purpose was Home Purchase, with 6,281 originations. The 2nd most popular reason was Home Improvement, with 2,432 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 5,174 $2,126,630,000 $411,022 $6,951 6.54%
    10 Year 3,064 $511,160,000 $166,828 $2,532 7.41%
    5 Year 1,013 $370,715,000 $365,958 $67 5.30%
    15 Year 561 $52,525,000 $93,627 $3,792 6.80%
    Other 398 $107,530,000 $270,176 $3,891 7.75%
    20 Year 258 $39,750,000 $154,070 $3,818 6.94%
    3 Year 5 $575,000 $115,000 $0 8.30%
    1 Year 3 $2,425,000 $808,333 $0 8.50%

    For 2023, South State Bank's most frequently cited loan duration was 30 Year, with 5,174 originations. The 2nd most popular length was 10 Year, with 3,064 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 2,677 $1,109,205,000 $414,346
    $5k+ 955 $557,335,000 $583,597
    $<1k 554 $58,850,000 $106,227
    $2k-3k 554 $152,380,000 $275,054
    $3k-4k 440 $129,380,000 $294,045
    $4k-5k 347 $111,445,000 $321,167

    South State Bank's average total fees were $6,951, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 2,677 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 4,167 $1,376,695,000 $330,380
    7-8% 3,531 $785,035,000 $222,327
    5-6% 1,573 $769,015,000 $488,884
    Over 8% 818 $246,090,000 $300,844
    <2.5% 312 $4,930,000 $15,801
    4-5% 63 $26,085,000 $414,048
    3-4% 11 $3,355,000 $305,000
    2.5-3% 1 $105,000 $105,000

    During 2023, South State Bank's average interest rate for loans was 6.54%, while their most frequently originated rate bucket for loans was 6-7%, with 4,167 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 3,281 $924,515,000 $281,778 $6,471 6.74%
    $100,000 or less 2,710 $145,800,000 $53,801 $1,346 6.57%
    $100k-200k 2,276 $327,530,000 $143,906 $4,551 7.08%
    $400k-600k 1,242 $593,720,000 $478,035 $8,083 6.71%
    $600k-1MM 621 $461,385,000 $742,971 $8,987 6.59%
    $1MM+ 346 $758,360,000 $2,191,792 $11,583 6.39%

    2023 saw South State Bank place emphasis on $200k-400k loans with 3,281 originations, totaling $924,515,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 2,047 $485,795,000 $237,320 $7,222 7.01%
    $250k+ 1,922 $1,109,580,000 $577,305 $8,606 6.86%
    $150k-250k 1,870 $569,590,000 $304,594 $7,218 7.04%
    $50k-75k 1,809 $278,605,000 $154,011 $5,076 6.34%
    $75k-100k 1,467 $284,815,000 $194,148 $6,373 6.82%
    $50k or less 1,026 $128,590,000 $125,331 $3,937 5.97%

    South State Bank lent most frequently to those with incomes in the $100k-150k range, with 2,047 originations. The second most popular income band? $250k+, with 1,922 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,959 $523,935,000 $267,450 $6,149 7.01%
    30-36% 1,836 $530,360,000 $288,867 $6,386 6.86%
    42% 985 $293,615,000 $298,086 $6,609 6.52%
    44% 787 $170,905,000 $217,160 $5,395 6.37%
    <20% 754 $240,360,000 $318,780 $6,329 7.04%
    41% 583 $172,245,000 $295,446 $6,291 6.61%
    40% 501 $136,565,000 $272,585 $5,894 6.60%
    39% 496 $140,350,000 $282,964 $6,411 6.86%
    38% 446 $126,700,000 $284,081 $6,130 6.70%
    37% 431 $127,995,000 $296,972 $6,628 6.81%
    43% 376 $87,460,000 $232,606 $5,568 6.38%
    36% 365 $102,595,000 $281,082 $6,347 6.85%
    50-60% 175 $53,645,000 $306,543 $10,844 6.13%
    49% 160 $51,420,000 $321,375 $7,469 6.33%
    45% 140 $44,930,000 $320,929 $7,193 6.48%
    47% 123 $40,365,000 $328,171 $6,956 6.32%
    48% 106 $31,390,000 $296,132 $6,898 6.40%
    46% 102 $30,050,000 $294,608 $6,976 6.36%
    >60% 29 $6,015,000 $207,414 $5,260 8.39%

    South State Bank lent most frequently to those with DTI ratios of 20-30%, with 1,959 originations. The next most common DTI ratio? 30-36%, with 1,836 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 7,891 $2,174,585,000 $275,578 $6,495 6.88%
    Not provided 1,230 $428,170,000 $348,106 $6,826 6.62%
    Not applicable 103 $290,295,000 $2,818,398 $0 7.40%
    Black 979 $225,185,000 $230,015 $5,730 5.85%
    Asian 177 $65,255,000 $368,672 $6,896 6.71%
    American Indian 44 $10,140,000 $230,455 $6,121 6.41%
    Asian Indian 22 $9,430,000 $428,636 $5,743 6.74%
    Chinese 8 $3,440,000 $430,000 $6,496 6.34%
    Other Asian 7 $1,645,000 $235,000 $6,770 6.55%
    Native Hawaiian or Islander 5 $1,115,000 $223,000 $5,095 4.60%
    5 $945,000 $189,000 $7,042 6.20%
    Other Pacific Islander 4 $700,000 $175,000 $5,817 6.96%
    Vietnamese 1 $405,000 $405,000 $4,290 6.00%

    Approval Rates

    Total approvals of all applications
    78.52%

    South State Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    73.23%

    South State Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 1 $135,000 $135,000
    150.02 1 $55,000 $55,000
    154.32 1 $65,000 $65,000
    164.19 1 $65,000 $65,000
    173.69 1 $65,000 $65,000
    178.63 1 $65,000 $65,000
    179.89 1 $75,000 $75,000
    186.82 1 $75,000 $75,000
    187.15 1 $75,000 $75,000
    193.84 1 $75,000 $75,000
    196.76 1 $75,000 $75,000
    196.88 1 $75,000 $75,000
    205.29 1 $85,000 $85,000
    25.75 1 $65,000 $65,000
    263.33 1 $105,000 $105,000
    271.74 1 $115,000 $115,000
    275.36 1 $105,000 $105,000
    277.69 1 $115,000 $115,000
    279.36 1 $105,000 $105,000
    286.94 1 $115,000 $115,000
    305.75 8 $760,000 $95,000
    307.83 1 $125,000 $125,000
    313.58 1 $125,000 $125,000
    323.75 1 $125,000 $125,000
    325.75 373 $28,275,000 $75,804
    325.89 1 $125,000 $125,000
    326.32 1 $135,000 $135,000
    341.42 1 $135,000 $135,000
    404.75 194 $20,460,000 $105,464
    406.74 1 $165,000 $165,000
    5.75 1 $155,000 $155,000
    670.75 1 $75,000 $75,000
    690.75 165 $12,115,000 $73,424
    720.75 1 $15,000 $15,000
    94.14 1 $35,000 $35,000
    NA 9,705 $3,146,775,000 $324,243

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    10,476 $3,211,310,000 $306,540

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1,766 $349,810,000 $198,080 $4,706 7.22%
    40-60% 1,080 $572,210,000 $529,824 $6,199 6.96%
    60-80% 1,929 $723,105,000 $374,860 $7,054 6.93%
    80-100% 3,540 $1,371,010,000 $387,291 $6,917 6.56%
    Over 100% 39 $15,305,000 $392,436 $16,751 6.22%
    Under 20% 2,122 $179,870,000 $84,764 $405 6.42%