Sunstate Federal Credit Union Mortgage Rates, Fees & Info
Gainesville, FLLEI: 254900YB9XQDO5W4KU33
Tax ID: 59-0808589
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Mortgage Data
Review & Overview
Sunstate Federal Credit Union is a smaller credit union specializing in Home Improvement and Refi loans. Sunstate Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Gainesville, Lake City, Jacksonville, Ocala, and Tampa among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)Sunstate Federal Credit Union has a below 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.08% | 11/22/24 |
| 30 Year Conventional Refi | 7.29% | 11/22/24 |
| 30 Year Cash-out Refi | 7.06% | 11/22/24 |
| 15 Year Conventional Purchase | 6.32% | 11/22/24 |
| 15 Year Conventional Refi | 7.13% | 11/22/24 |
| 15 Year Cash-out Refi | 7.13% | 11/22/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
167Origination Dollar Volume (All Markets)
$18,785,000Top 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 |
|---|---|---|---|---|---|
| GAINESVILLE, FL (FHA|USDA|VA) | 122 | $15,510,000 | $127,131 | $3,464 | 4.56% |
| Lake City, FL (FHA|USDA|VA) | 16 | $1,280,000 | $80,000 | $3,023 | 4.42% |
| Outside of Metro Areas | 13 | $805,000 | $61,923 | $3,215 | 4.96% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 4 | $310,000 | $77,500 | $0 | 5.81% |
| OCALA, FL (FHA|USDA|VA) | 4 | $270,000 | $67,500 | $2,728 | 3.70% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 3 | $205,000 | $68,333 | $0 | 4.54% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 4.50% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $3,037 | 3.50% |
| Palatka, FL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $3,098 | 3.50% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 8.25% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 1.99% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 97 | $6,265,000 | $64,588 | n/a | 4.53% |
| Conventional | 70 | $12,520,000 | $178,857 | $3,306 | 4.65% |
For 2019, Sunstate Federal Credit Union's most frequently originated type of loan was HELOC, with 97 originations. Their 2nd most popular type was Conventional, with 70 originations.
Loan Reason
For 2019, Sunstate Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 76 originations. The 2nd most popular reason was Refi, with 32 originations.
Loan Duration/Length
For 2019, Sunstate Federal Credit Union's most frequently cited loan duration was 10 Year, with 79 originations. The 2nd most popular length was 15 Year, with 62 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 45 | $4,855,000 | $107,889 |
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 45 originations.
Interest Rates
During 2019, Sunstate Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was <2.5%, with 52 originations.
Loan Sizing
2019 saw Sunstate Federal Credit Union place emphasis on $100,000 or less loans with 122 originations, totaling $6,190,000 in origination value.
Applicant Income
Sunstate Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 43 originations. The second most popular income band? $100k-150k, with 35 originations.
Applicant Debt to Income Ratio
Sunstate Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 52 originations. The next most common DTI ratio? 30-36%, with 33 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications55.04%
Sunstate Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination72.46%
Sunstate Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 167 | $18,785,000 | $112,485 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 3 | $5,755,000 | $1,918,333 |
| Single Family (1-4 Units):Site-Built | 164 | $13,030,000 | $79,451 |
LTV Distribution
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% |