Sunstate Bank Mortgage Rates, Fees & Info
West Miami, FLLEI: 254900KN1X8B3CQDSO97
Tax ID: 65-0878433
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Sunstate Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Sunstate Bank has a high proportion of conventional loans. Their top two markets are Miami and Naples .Sunstate Bank has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders.
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Originations
12Origination Dollar Volume (All Markets)
$10,970,000Top 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 |
|---|---|---|---|---|---|
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 11 | $6,965,000 | $633,182 | $0 | 0.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $4,005,000 | $4,005,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 12 | $10,970,000 | $914,167 | $0 | 0.00% |
For 2024, Sunstate Bank's most frequently originated type of loan was Conventional, with 12 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 8 | $6,050,000 | $756,250 | $0 | 0.00% |
| Refi | 3 | $915,000 | $305,000 | $0 | 0.00% |
| Cash Out Refi | 1 | $4,005,000 | $4,005,000 | $0 | 0.00% |
For 2024, Sunstate Bank's most frequently cited loan purpose was Home Purchase, with 8 originations. The 2nd most popular reason was Refi, with 3 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 12 | $10,970,000 | $914,167 | $0 | 0.00% |
For 2024, Sunstate Bank's most frequently cited loan duration was Other, with 12 originations.
Loan Sizing
2024 saw Sunstate Bank place emphasis on $400k-600k loans with 6 originations, totaling $2,670,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 1 | $425,000 | $425,000 | $0 | 0.00% |
Sunstate Bank lent most frequently to those with incomes in the $100k-150k range, with 1 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 12 | $10,970,000 | $914,167 | $0 | 0.00% |
Sunstate Bank lent most frequently to those with DTI ratios of Exempt%, with 12 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 11 | $10,545,000 | $958,636 | $0 | 0.00% |
| White | 1 | $425,000 | $425,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications83.33%
Sunstate Bank has a below average approval rate.
Pick Rate
Approvals leading to origination91.67%
Sunstate Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 12 | $10,970,000 | $914,167 |