Southern Heritage Bank
Mortgage Loan Application
Totals and Details
for 2016

Find mortgage statistics in Tennessee.
The mortgage statistics provided below are specific to mortgages loaned by Southern Heritage Bank, and
charts are available for all areas of Tennessee.
Search for mortgage details by county or metropolitan area and explore the total number of mortgage applications and mortgage application details for 2003-2017.

Mortgage Company & Address Southern Heritage Bank
Po Box 4730
Cleveland, TN 37320
Tel #: available with data download
Federal Regulator * available with data download
Years 2016  
Total Number of Mortgage Applications 456
Total Mortgage Loan Application Amount $66,430,000
Average Mortgage Loan Application Amount $153,625
Highest Mortgage Loan Application Amount $563,000
Average Applicant Income $97,750
Highest Applicant Income $692,000

We provide overall totals and averages for each year, as well as highest application amount and the income of the highest applicant.
As you search for the best mortgages in TN, our lists will give you a good idea what to expect in any situation.
These numbers will tell you what the best mortgage loans are by county, by race, and per income. With this information, you can be prepared to get the best mortgage price when you search out a mortgage lender.

Download the Tennessee Lender List

Our numbers detail mortgage loan totals in categories such as loan purpose, race of mortgage applicant, loan type, the outcome of the application, and reason for denial.
Each category breaks down the total number of mortgage applications, the total dollar amount for those applications, the average mortgage amount, the highest mortgage within that category, the average income of the mortgage applicants, and the highest income of the mortgage applicants.
You can also download the entire list of mortgage applicants in Tennessee, and search the same numbers and information back through 2003.

Mortgage Loan Application Detail Totals for Southern Heritage Bank in 2016

Loan Purpose

Total Number of Mortgage Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Amount Highest Mortgage Loan Amount Average Applicant Income Highest Applicant Income
Home Purchase 358 $54,555,000 $152,000 $563,000 $69,000 $549,000
Refinancing 70 $10,197,000 $145,000 $408,000 $92,000 $692,000
Home Improvement 28 $1,678,000 $59,000 $300,000 $75,000 $322,000

Applicant Race

Total Number of Mortgage Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Amount Highest Mortgage Loan Amount Average Applicant Income Highest Applicant Income
White 420 $61,422,000 $146,000 $563,000 $74,000 $692,000
Hispanic 17 $2,009,000 $118,000 $277,000 $51,000 $156,000
Black or African American 9 $1,488,000 $165,000 $417,000 $82,000 $207,000
American Indian or Alaskan Native 4 $744,000 $186,000 $296,000 $57,000 $81,000
Not Provided 3 $215,000 $71,000 $137,000 $76,000 $105,000
Asian 2 $477,000 $238,000 $357,000 $109,000 $141,000
Not applicable 1 $75,000 $75,000 $75,000 $0 $0
Native Hawaiin or Other Pacific Islander 0 $0 $0 $0 $0 $0

Loan Type

Total Number of Mortgage Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Amount Highest Mortgage Loan Amount Average Applicant Income Highest Applicant Income
Conventional (any loan other than FHA, VA, FSA, or RHS loans) 226 $33,643,000 $148,000 $563,000 $94,000 $692,000
FHA-insured (Federal Housing Administration) 138 $18,356,000 $133,000 $275,000 $54,000 $393,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 55 $8,033,000 $146,000 $288,000 $46,000 $78,000
VA-guaranteed (Veterans Administration) 37 $6,398,000 $172,000 $417,000 $57,000 $122,000

Outcome

Total Number of Mortgage Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Amount Highest Mortgage Loan Amount Average Applicant Income Highest Applicant Income
Loan Originated 378 $55,664,000 $147,000 $563,000 $74,000 $692,000
Application Approved But Not Accepted 37 $5,334,000 $144,000 $280,000 $70,000 $213,000
Application Denied By Financial Institution 32 $4,180,000 $130,000 $417,000 $62,000 $393,000
Application Withdrawn By Applicant 9 $1,252,000 $139,000 $254,000 $79,000 $207,000
File Closed For Incompleteness 0 $0 $0 $0 $0 $0
Loan Purchased By The Institution 0 $0 $0 $0 $0 $0
Preapproval Approved but not Accepted 0 $0 $0 $0 $0 $0
Preapproval Denied by Financial Institution 0 $0 $0 $0 $0 $0

Denial Reason

Total Number of Mortgage Applications Total Dollar Amount of Mortgage Loan Applications Average Mortgage Loan Amount Highest Mortgage Loan Amount Average Applicant Income Highest Applicant Income
Collateral 8 $1,274,000 $159,000 $296,000 $60,000 $105,000
Credit History 7 $720,000 $102,000 $192,000 $39,000 $98,000
Other 6 $754,000 $125,000 $206,000 $57,000 $101,000
Debt-To-Income Ratio 4 $645,000 $161,000 $417,000 $69,000 $118,000
Employment History 3 $433,000 $144,000 $300,000 $38,000 $78,000
Insufficient Cash (Downpayment, Closing Cost) 2 $188,000 $94,000 $103,000 $38,000 $58,000
Unverifiable Information 1 $81,000 $81,000 $81,000 $23,000 $23,000
Credit Application Incomplete 1 $85,000 $85,000 $85,000 $393,000 $393,000
Mortgage Insurance Denied 0 $0 $0 $0 $0 $0

These totals and details for mortgage applications will give you a better idea of what to expect when researching mortgage lenders. Whether you are looking for a home loan, for home refinancing, or for home improvement loan statistics, we have the information you need. This mortgage application data give you everything you need to know as you start your search for the best lenders in TN, and give you an idea of what the best mortgage loans really are.

If you prefer, you can download a copy of the entire list of mortgage lenders in Tennessee, and search similar information back through 2003.

Download the Tennessee Lender List