Sunstate Bank Mortgage Rates, Fees & Info
West Miami, FLLEI: 254900KN1X8B3CQDSO97
Tax ID: 65-0878433
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Mortgage Data
Review & Overview
Sunstate Bank is a smaller bank specializing in Home Purchase and Refi loans. Sunstate Bank has a high proportion of conventional loans. Their top two markets are Miami and Orlando .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
32Origination Dollar Volume (All Markets)
$16,530,000Top 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) | 31 | $16,275,000 | $525,000 | $0 | 0.00% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 32 | $16,530,000 | $516,563 | $0 | 0.00% |
For 2019, Sunstate Bank's most frequently originated type of loan was Conventional, with 32 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 22 | $11,580,000 | $526,364 | $0 | 0.00% |
| Refi | 8 | $4,790,000 | $598,750 | $0 | 0.00% |
| Home Improvement | 2 | $160,000 | $80,000 | $0 | 0.00% |
For 2019, Sunstate Bank's most frequently cited loan purpose was Home Purchase, with 22 originations. The 2nd most popular reason was Refi, with 8 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 32 | $16,530,000 | $516,563 | $0 | 0.00% |
For 2019, Sunstate Bank's most frequently cited loan duration was Other, with 32 originations.
Loan Sizing
2019 saw Sunstate Bank place emphasis on $100k-200k loans with 10 originations, totaling $1,640,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $150k-250k | 2 | $470,000 | $235,000 | $0 | 0.00% |
| $50k-75k | 1 | $15,000 | $15,000 | $0 | 0.00% |
Sunstate Bank lent most frequently to those with incomes in the $150k-250k range, with 2 originations. The second most popular income band? $50k-75k, with 1 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 32 | $16,530,000 | $516,563 | $0 | 0.00% |
Sunstate Bank lent most frequently to those with DTI ratios of Exempt%, with 32 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 29 | $16,045,000 | $553,276 | $0 | 0.00% |
| White | 3 | $485,000 | $161,667 | $0 | 0.00% |
Approval Rates
Total approvals of all applications83.33%
Sunstate Bank has a below average approval rate.
Pick Rate
Approvals leading to origination93.75%
Sunstate Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 32 | $16,530,000 | $516,563 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 1 | $875,000 | $875,000 |
| Single Family (1-4 Units):Site-Built | 31 | $15,655,000 | $505,000 |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| SUN WEST MORTGAGE COMPANY, INC. | Conventional home mortgage | Trouble during payment process | 4 | 50.0% |
| SUN WEST MORTGAGE COMPANY, INC. | FHA mortgage | Trouble during payment process | 2 | 25.0% |
| SUN WEST MORTGAGE COMPANY, INC. | Other type of mortgage | Closing on a mortgage | 1 | 12.5% |
| SUN WEST MORTGAGE COMPANY, INC. | Other type of mortgage | Struggling to pay mortgage | 1 | 12.5% |