Sunstate Federal Credit Union Mortgage Rates, Fees & Info

Gainesville, FL

LEI: 254900YB9XQDO5W4KU33

Tax ID: 59-0808589

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

Review & Overview

Sunstate Federal Credit Union is a smaller credit union specializing in Home Purchase loans. Sunstate Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Gainesville, Lake City, Shreveport, Baton Rouge, and Tuscaloosa among others. We have data for 100 markets. (Some data included below & more in-depth data is available with an active subscription.)

Sunstate Federal Credit Union 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.

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
30 Year Conventional Purchase	7.08%	4/28/24
30 Year Conventional Refi	7.29%	4/28/24
30 Year Cash-out Refi	7.06%	4/28/24
15 Year Conventional Purchase	6.32%	4/28/24
15 Year Conventional Refi	7.13%	4/28/24
15 Year Cash-out Refi	7.13%	4/28/24
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.

Sunstate Federal Credit Union Mortgage Calculator

Purchase Price:

Loan Amount:

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% Deposit:

Interest Rate:

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

This is not an official calculator from Sunstate Federal Credit Union. 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

408

Origination Dollar Volume (All Markets)

$35,880,000

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
GAINESVILLE, FL (FHA\|USDA\|VA)	141	$11,835,000	$83,936	$2,164	3.88%
Outside of Metro Areas	60	$4,860,000	$81,000	$1,867	6.03%
Lake City, FL (FHA\|USDA\|VA)	22	$1,700,000	$77,273	$1,506	5.06%
SHREVEPORT-BOSSIER CITY, LA (FHA\|USDA\|VA)	7	$695,000	$99,286	$0	6.43%
BATON ROUGE, LA (FHA\|USDA\|VA)	6	$670,000	$111,667	$0	6.71%
TUSCALOOSA, AL (FHA\|USDA\|VA)	5	$565,000	$113,000	$0	6.40%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA\|USDA\|VA)	6	$530,000	$88,333	$0	6.46%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA\|USDA\|VA)	2	$480,000	$240,000	$5,050	4.88%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA\|USDA\|VA)	5	$455,000	$91,000	$0	6.80%
North Port-Sarasota-Bradenton, FL (FHA\|USDA\|VA)	4	$390,000	$97,500	$0	6.81%
BIRMINGHAM-HOOVER, AL (FHA\|USDA\|VA)	4	$380,000	$95,000	$0	6.44%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA\|USDA\|VA)	4	$360,000	$90,000	$0	6.69%
Palatka, FL (FHA\|USDA\|VA)	3	$355,000	$118,333	$2,030	4.06%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA\|USDA\|VA)	3	$355,000	$118,333	$2,253	6.88%
LAFAYETTE, LA (FHA\|USDA\|VA)	4	$330,000	$82,500	$0	6.75%
OCALA, FL (FHA\|USDA\|VA)	5	$315,000	$63,000	$0	3.14%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA\|USDA\|VA)	3	$305,000	$101,667	$0	6.67%
JACKSONVILLE, FL (FHA\|USDA\|VA)	4	$300,000	$75,000	$0	3.12%
Brookhaven, MS (FHA\|USDA\|VA)	3	$295,000	$98,333	$0	6.17%
TULSA, OK (FHA\|USDA\|VA)	3	$285,000	$95,000	$0	7.00%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA\|USDA\|VA)	3	$285,000	$95,000	$0	7.00%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA\|USDA\|VA)	3	$275,000	$91,667	$0	6.83%
Athens, TN (FHA\|USDA\|VA)	2	$270,000	$135,000	$0	6.13%
Seneca, SC (FHA\|USDA\|VA)	3	$265,000	$88,333	$0	6.75%
Dallas-Fort Worth-Arlington, TX (FHA\|USDA\|VA)	3	$265,000	$88,333	$0	6.67%
HOT SPRINGS, AR (FHA\|USDA\|VA)	2	$240,000	$120,000	$0	5.87%
TALLAHASSEE, FL (FHA\|USDA\|VA)	2	$240,000	$120,000	$0	6.25%
HATTIESBURG, MS (FHA\|USDA\|VA)	2	$230,000	$115,000	$0	6.88%
Laurel, MS (FHA\|USDA\|VA)	2	$220,000	$110,000	$0	6.63%
LAKE CHARLES, LA (FHA\|USDA\|VA)	3	$215,000	$71,667	$0	6.92%
Russellville, AR (FHA\|USDA\|VA)	2	$210,000	$105,000	$0	6.50%
HOMOSASSA SPRINGS, FL (FHA\|USDA\|VA)	2	$210,000	$105,000	$0	6.00%
OKLAHOMA CITY, OK (FHA\|USDA\|VA)	2	$200,000	$100,000	$0	7.38%
CHARLESTON-NORTH CHARLESTON, SC (FHA\|USDA\|VA)	2	$200,000	$100,000	$0	8.37%
JACKSON, MS (FHA\|USDA\|VA)	2	$200,000	$100,000	$0	6.38%
ASHEVILLE, NC (FHA\|USDA\|VA)	2	$190,000	$95,000	$0	6.88%
CAPE CORAL-FORT MYERS, FL (FHA\|USDA\|VA)	2	$190,000	$95,000	$0	6.63%
Jasper, AL (FHA\|USDA\|VA)	2	$180,000	$90,000	$0	6.63%
ALEXANDRIA, LA (FHA\|USDA\|VA)	2	$180,000	$90,000	$0	6.88%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA\|USDA\|VA)	2	$180,000	$90,000	$0	6.75%
MONROE, LA (FHA\|USDA\|VA)	2	$180,000	$90,000	$0	6.38%
Lufkin, TX (FHA\|USDA\|VA)	1	$175,000	$175,000	$0	7.00%
El Dorado, AR (FHA\|USDA\|VA)	2	$170,000	$85,000	$0	6.38%
Tupelo, MS (FHA\|USDA\|VA)	2	$170,000	$85,000	$0	6.13%
Cordele, GA (FHA\|USDA\|VA)	1	$165,000	$165,000	$0	6.50%
Meridian, MS (FHA\|USDA\|VA)	2	$160,000	$80,000	$0	7.00%
ATHENS-CLARKE COUNTY, GA (FHA\|USDA\|VA)	1	$155,000	$155,000	$0	6.50%
GULFPORT-BILOXI, MS (FHA\|USDA\|VA)	2	$150,000	$75,000	$0	6.88%
Bennettsville, SC (FHA\|USDA\|VA)	2	$150,000	$75,000	$0	6.88%
Pearsall, TX (FHA\|USDA\|VA)	1	$145,000	$145,000	$0	6.25%
Ardmore, OK (FHA\|USDA\|VA)	1	$145,000	$145,000	$0	6.75%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA\|USDA\|VA)	2	$140,000	$70,000	$0	6.63%
Lumberton, NC (FHA\|USDA\|VA)	2	$140,000	$70,000	$0	7.00%
DeRidder, LA (FHA\|USDA\|VA)	1	$135,000	$135,000	$0	5.50%
Bainbridge, GA (FHA\|USDA\|VA)	1	$125,000	$125,000	$0	7.00%
Brenham, TX (FHA\|USDA\|VA)	1	$125,000	$125,000	$0	6.75%
ALBANY, GA (FHA\|USDA\|VA)	1	$125,000	$125,000	$0	7.00%
Fort Polk South, LA (FHA\|USDA\|VA)	1	$125,000	$125,000	$0	6.25%
Roswell, NM (FHA\|USDA\|VA)	2	$120,000	$60,000	$0	7.00%
PENSACOLA-FERRY PASS-BRENT, FL (FHA\|USDA\|VA)	1	$115,000	$115,000	$0	6.75%
CORPUS CHRISTI, TX (FHA\|USDA\|VA)	1	$115,000	$115,000	$0	7.75%
Thomaston, GA (FHA\|USDA\|VA)	1	$105,000	$105,000	$0	6.25%
HAMMOND, LA (FHA\|USDA\|VA)	1	$105,000	$105,000	$0	6.75%
Milledgeville, GA (FHA\|USDA\|VA)	1	$95,000	$95,000	$0	5.99%
Granbury, TX (FHA\|USDA\|VA)	1	$95,000	$95,000	$0	6.25%
MEMPHIS, TN-MS-AR (FHA\|USDA\|VA)	1	$95,000	$95,000	$0	6.25%
McComb, MS (FHA\|USDA\|VA)	1	$95,000	$95,000	$0	6.00%
WICHITA FALLS, TX (FHA\|USDA\|VA)	1	$95,000	$95,000	$0	7.00%
Starkville, MS (FHA\|USDA\|VA)	1	$95,000	$95,000	$0	6.75%
Hope, AR (FHA\|USDA\|VA)	1	$95,000	$95,000	$0	6.50%
Bonham, TX (FHA\|USDA\|VA)	1	$95,000	$95,000	$0	7.00%
ROME, GA (FHA\|USDA\|VA)	1	$95,000	$95,000	$0	7.00%
Cleveland, MS (FHA\|USDA\|VA)	1	$95,000	$95,000	$0	6.75%
Dayton, TN (FHA\|USDA\|VA)	1	$95,000	$95,000	$0	6.25%
MONTGOMERY, AL (FHA\|USDA\|VA)	1	$85,000	$85,000	$0	6.25%
PINE BLUFF, AR (FHA\|USDA\|VA)	1	$85,000	$85,000	$0	8.99%
Dublin, GA (FHA\|USDA\|VA)	1	$85,000	$85,000	$0	5.75%
Ozark, AL (FHA\|USDA\|VA)	1	$85,000	$85,000	$0	6.25%
Kerrville, TX (FHA\|USDA\|VA)	1	$85,000	$85,000	$0	6.50%
Gallup, NM (FHA\|USDA\|VA)	1	$75,000	$75,000	$0	7.25%
DOTHAN, AL (FHA\|USDA\|VA)	1	$75,000	$75,000	$0	5.75%
West Point, MS (FHA\|USDA\|VA)	1	$75,000	$75,000	$0	6.25%
BEAUMONT-PORT ARTHUR, TX (FHA\|USDA\|VA)	1	$75,000	$75,000	$0	7.00%
AMARILLO, TX (FHA\|USDA\|VA)	1	$65,000	$65,000	$0	7.00%
HOUMA-THIBODAUX, LA (FHA\|USDA\|VA)	1	$65,000	$65,000	$0	7.00%
McAlester, OK (FHA\|USDA\|VA)	1	$65,000	$65,000	$0	7.00%
DECATUR, AL (FHA\|USDA\|VA)	1	$65,000	$65,000	$0	5.75%
PUNTA GORDA, FL (FHA\|USDA\|VA)	1	$65,000	$65,000	$0	6.25%
Rockport, TX (FHA\|USDA\|VA)	1	$65,000	$65,000	$0	6.75%
VALDOSTA, GA (FHA\|USDA\|VA)	1	$65,000	$65,000	$0	6.25%
WACO, TX (FHA\|USDA\|VA)	1	$65,000	$65,000	$0	7.00%
KNOXVILLE, TN (FHA\|USDA\|VA)	1	$55,000	$55,000	$0	7.00%
Helena-West Helena, AR (FHA\|USDA\|VA)	1	$55,000	$55,000	$0	7.00%
SPARTANBURG, SC (FHA\|USDA\|VA)	1	$55,000	$55,000	$0	7.00%
ODESSA, TX (FHA\|USDA\|VA)	1	$55,000	$55,000	$0	7.00%
Ruston, LA (FHA\|USDA\|VA)	1	$45,000	$45,000	$0	7.00%
Blytheville, AR (FHA\|USDA\|VA)	1	$45,000	$45,000	$0	7.00%
FORT SMITH, AR-OK (FHA\|USDA\|VA)	1	$45,000	$45,000	$0	8.75%
Arcadia, FL (FHA\|USDA\|VA)	1	$45,000	$45,000	$0	0.99%
LAS CRUCES, NM (FHA\|USDA\|VA)	1	$45,000	$45,000	$0	6.75%

Sunstate Federal Credit Union's top markets include Gainesville, Lake City, Shreveport, Baton Rouge, and Tuscaloosa among others.

Their top states include:

Florida (FHA|USDA|VA)

Texas (FHA|USDA|VA)

Louisiana (FHA|USDA|VA)

Mississippi (FHA|USDA|VA)

Alabama (FHA|USDA|VA)

Similar Lenders

We use machine learning to identify the top lenders compared against SunState Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

WATSON MORTGAGE CORP.
Similarity Rank: 121

VYSTAR
Similarity Rank: 360

CAMPUS USA
Similarity Rank: 589

FLORIDA
Similarity Rank: 672

Capital City Bank
Similarity Rank: 840

HOME POINT FINANCIAL CORPORATION
Similarity Rank: 1298

PROVIDENT FUNDING ASSOCIATES, L.P.
Similarity Rank: 3590

THE MORTGAGE FIRM, INC.
Similarity Rank: 4218

TD Bank
Similarity Rank: 4752

SUNTRUST MORTGAGE, INC
Similarity Rank: 4851

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	288	$27,790,000	$96,493	$1,984	6.21%
HELOC	120	$8,090,000	$67,417	n/a	3.48%

For 2018, Sunstate Federal Credit Union's most frequently originated type of loan was Conventional, with 288 originations. Their 2nd most popular type was HELOC, with 120 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	235	$22,825,000	$97,128	$2,671	6.52%
Home Improvement	66	$3,650,000	$55,303	$0	3.98%
Other	63	$4,455,000	$70,714	$0	3.51%
Refi	24	$2,980,000	$124,167	$1,477	4.53%
Cash Out Refi	20	$1,970,000	$98,500	$1,385	4.15%

For 2018, Sunstate Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 235 originations. The 2nd most popular reason was Home Improvement, with 66 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	161	$17,305,000	$107,484	$0	6.54%
15 Year	111	$7,825,000	$70,495	$1,780	4.56%
10 Year	79	$5,575,000	$70,570	$2,302	3.80%
20 Year	57	$5,175,000	$90,789	$1,605	6.10%

For 2018, Sunstate Federal Credit Union's most frequently cited loan duration was Other, with 161 originations. The 2nd most popular length was 15 Year, with 111 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	66	$6,670,000	$101,061
$2k-3k	8	$650,000	$81,250
$1k-2k	3	$245,000	$81,667
$4k-5k	2	$260,000	$130,000
$3k-4k	1	$125,000	$125,000

Sunstate Federal Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 66 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
6-7%	193	$16,275,000	$84,326
<2.5%	65	$4,355,000	$67,000
5-6%	52	$5,750,000	$110,577
4-5%	46	$4,490,000	$97,609
7-8%	24	$2,000,000	$83,333
3-4%	16	$2,180,000	$136,250
Over 8%	12	$830,000	$69,167

During 2018, Sunstate Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 6-7%, with 193 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	276	$16,790,000	$60,833	$1,560	5.35%
$100k-200k	116	$14,680,000	$126,552	$2,111	5.74%
$200k-400k	14	$3,590,000	$256,429	$2,434	4.01%
$400k-600k	2	$820,000	$410,000	$4,832	4.00%

2018 saw Sunstate Federal Credit Union place emphasis on $100,000 or less loans with 276 originations, totaling $16,790,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	121	$10,035,000	$82,934	$1,096	5.78%
$75k-100k	94	$8,240,000	$87,660	$2,183	5.49%
$50k or less	79	$4,845,000	$61,329	$1,460	5.78%
$100k-150k	69	$6,065,000	$87,899	$3,050	4.79%
$150k-250k	28	$3,400,000	$121,429	$0	4.84%
$250k+	14	$3,080,000	$220,000	$4,941	4.25%

Sunstate Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 121 originations. The second most popular income band? $75k-100k, with 94 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	120	$10,600,000	$88,333	$2,529	5.61%
30-36%	89	$8,025,000	$90,169	$2,340	5.46%
<20%	79	$6,935,000	$87,785	$2,734	5.81%
39%	18	$1,450,000	$80,556	$0	4.73%
41%	16	$1,160,000	$72,500	$1,325	6.10%
36%	13	$1,125,000	$86,538	$677	4.94%
42%	13	$815,000	$62,692	$0	3.59%
38%	13	$985,000	$75,769	$0	5.15%
43%	11	$695,000	$63,182	$0	4.84%
37%	11	$1,155,000	$105,000	$0	5.48%
40%	11	$1,005,000	$91,364	$0	4.90%
44%	2	$80,000	$40,000	$0	0.99%
46%	2	$160,000	$80,000	$2,030	2.81%
50-60%	2	$300,000	$150,000	$2,253	6.81%
47%	1	$115,000	$115,000	$0	6.25%
>60%	1	$95,000	$95,000	$0	7.00%

Sunstate Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 120 originations. The next most common DTI ratio? 30-36%, with 89 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	349	$30,105,000	$86,261	$1,741	5.43%
Black	31	$2,515,000	$81,129	$0	5.84%
Not provided	14	$1,450,000	$103,571	$3,651	5.70%
Not applicable	6	$1,180,000	$196,667	$0	4.37%
Asian	3	$345,000	$115,000	$0	2.08%
American Indian	4	$200,000	$50,000	$3,515	3.37%
Asian Indian	1	$85,000	$85,000	$0	6.75%

Approval Rates

Total approvals of all applications
84.37%

Sunstate Federal Credit Union has a below average approval rate.

Pick Rate

Approvals leading to origination
30.64%

Sunstate Federal Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

Points and Fees

Points	Originations	Total Value	Average Loan
1290.0	1	$25,000	$25,000
1383.94	1	$75,000	$75,000
1666.77	1	$85,000	$85,000
2235.15	1	$75,000	$75,000
2324.8	1	$75,000	$75,000
2439.0	2	$170,000	$85,000
2469.9	1	$85,000	$85,000
2473.99	1	$85,000	$85,000
2497.16	1	$85,000	$85,000
2604.56	1	$95,000	$95,000
2707.77	1	$95,000	$95,000
2770.99	1	$95,000	$95,000
3049.0	1	$115,000	$115,000
3099.0	1	$115,000	$115,000
3099.31	1	$105,000	$105,000
3140.94	1	$95,000	$95,000
3219.12	1	$125,000	$125,000
3224.12	1	$115,000	$115,000
3250.21	1	$125,000	$125,000
3285.27	1	$125,000	$125,000
3289.0	1	$125,000	$125,000
3399.0	1	$125,000	$125,000
3408.06	1	$135,000	$135,000
3510.0	1	$135,000	$135,000
3798.16	1	$145,000	$145,000
4184.0	1	$165,000	$165,000
4199.0	1	$165,000	$165,000
4227.82	1	$175,000	$175,000
599.0	1	$85,000	$85,000
799.0	67	$6,025,000	$89,925
NA	311	$26,635,000	$85,643

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Single Family (1-4 Units):Manufactured	215	$20,005,000	$93,047
Single Family (1-4 Units):Site-Built	193	$15,875,000	$82,254

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	65	$4,235,000	$65,154	$3,055	3.91%
40-60%	27	$3,125,000	$115,741	$966	4.13%
60-80%	63	$6,675,000	$105,952	$2,004	5.31%
80-100%	129	$13,375,000	$103,682	$2,876	6.65%
Under 20%	60	$2,270,000	$37,833	$0	3.75%

Complaints

Bank Name	Product	Issue	2018 CPFB Complaints	% of Total Issues
SUN WEST MORTGAGE COMPANY, INC.	Conventional home mortgage	Trouble during payment process	1	10.0%
SUN WEST MORTGAGE COMPANY, INC.	FHA mortgage	Closing on a mortgage	1	10.0%
SUN WEST MORTGAGE COMPANY, INC.	FHA mortgage	Struggling to pay mortgage	1	10.0%
SUN WEST MORTGAGE COMPANY, INC.	FHA mortgage	Trouble during payment process	3	30.0%
SUN WEST MORTGAGE COMPANY, INC.	Other type of mortgage	Struggling to pay mortgage	2	20.0%
SUN WEST MORTGAGE COMPANY, INC.	VA mortgage	Trouble during payment process	2	20.0%