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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Sunstate Federal Credit Union is a smaller credit union specializing in Refi loans. Sunstate Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Gainesville, Lake City, Ocala, Jacksonville, and Orlando 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 an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Sunstate Federal Credit Union is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.

    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% 11/21/24
    30 Year Conventional Refi 7.29% 11/21/24
    30 Year Cash-out Refi 7.06% 11/21/24
    15 Year Conventional Purchase 6.32% 11/21/24
    15 Year Conventional Refi 7.13% 11/21/24
    15 Year Cash-out Refi 7.13% 11/21/24
    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






    Your Estimates

    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

    302

    Origination Dollar Volume (All Markets)

    $52,640,000

    Awards

    SunState Federal Credit Union 30 Year Conventional Loans gold
    Show all (1) awards

    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) 206 $42,440,000 $206,019 $3,021 4.22%
    Lake City, FL (FHA|USDA|VA) 30 $2,770,000 $92,333 $3,137 4.95%
    Outside of Metro Areas 23 $2,405,000 $104,565 $6,031 4.33%
    OCALA, FL (FHA|USDA|VA) 16 $1,990,000 $124,375 $4,826 4.48%
    JACKSONVILLE, FL (FHA|USDA|VA) 8 $1,180,000 $147,500 $2,970 3.68%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 4 $600,000 $150,000 $2,075 2.68%
    Palatka, FL (FHA|USDA|VA) 6 $560,000 $93,333 $3,783 4.50%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 5 $435,000 $87,000 $2,790 6.65%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 2 $130,000 $65,000 $0 1.99%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $75,000 $75,000 $2,051 5.50%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $55,000 $55,000 $0 7.50%
    Sunstate Federal Credit Union's top markets include Gainesville, Lake City, Ocala, Jacksonville, and Orlando among others.

    Their top states include:
  • Florida (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.

    Suncoast Credit Union
    Similarity Rank: 86
    VYSTAR
    Similarity Rank: 396
    SunState Federal Credit Union
    Similarity Rank: 462
    CAMPUS USA
    Similarity Rank: 792
    FLORIDA
    Similarity Rank: 1050
    Mortgage Lenders Investment Trading Corporation
    Similarity Rank: 3888
    TD Bank
    Similarity Rank: 4212
    PROVIDENT FUNDING ASSOCIATES, L.P.
    Similarity Rank: 4602
    Regions Bank
    Similarity Rank: 5226
    Capital City Home Loans, LLC
    Similarity Rank: 5580

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 211 $18,665,000 $88,460 n/a 4.06%
    Conventional 91 $33,975,000 $373,352 $3,244 4.94%

    For 2022, Sunstate Federal Credit Union's most frequently originated type of loan was HELOC, with 211 originations. Their 2nd most popular type was Conventional, with 91 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 130 $10,200,000 $78,462 $0 3.75%
    Other 64 $5,480,000 $85,625 $0 4.52%
    Cash Out Refi 48 $9,000,000 $187,500 $3,085 4.71%
    Refi 38 $21,870,000 $575,526 $3,126 5.06%
    Home Purchase 22 $6,090,000 $276,818 $3,750 5.07%

    For 2022, Sunstate Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 130 originations. The 2nd most popular reason was Other, with 64 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 142 $15,090,000 $106,268 $2,639 4.62%
    10 Year 101 $8,325,000 $82,426 $2,073 3.63%
    30 Year 41 $24,205,000 $590,366 $3,896 5.27%
    20 Year 10 $1,610,000 $161,000 $2,978 4.03%
    Other 8 $3,410,000 $426,250 $0 3.52%

    For 2022, Sunstate Federal Credit Union's most frequently cited loan duration was 15 Year, with 142 originations. The 2nd most popular length was 10 Year, with 101 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 75 $12,935,000 $172,467
    $2k-3k 3 $515,000 $171,667
    $3k-4k 2 $550,000 $275,000
    $4k-5k 2 $710,000 $355,000

    Sunstate Federal Credit Union's average total fees were $3,896, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 75 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 89 $9,005,000 $101,180
    6-7% 49 $5,215,000 $106,429
    5-6% 37 $3,585,000 $96,892
    2.5-3% 36 $4,090,000 $113,611
    3-4% 30 $23,330,000 $777,667
    7-8% 24 $2,830,000 $117,917
    Over 8% 21 $1,275,000 $60,714
    4-5% 16 $3,310,000 $206,875

    During 2022, Sunstate Federal Credit Union's average interest rate for loans was 5.27%, while their most frequently originated rate bucket for loans was <2.5%, with 89 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 168 $8,960,000 $53,333 $1,980 4.49%
    $100k-200k 84 $11,500,000 $136,905 $3,152 4.29%
    $200k-400k 38 $10,070,000 $265,000 $4,404 3.89%
    $400k-600k 9 $4,255,000 $472,778 $3,910 3.73%
    $1MM+ 2 $17,250,000 $8,625,000 $0 3.88%
    $600k-1MM 1 $605,000 $605,000 $4,953 3.75%

    2022 saw Sunstate Federal Credit Union place emphasis on $100,000 or less loans with 168 originations, totaling $8,960,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 66 $5,300,000 $80,303 $3,128 4.76%
    $100k-150k 64 $5,950,000 $92,969 $2,410 4.44%
    $75k-100k 58 $6,940,000 $119,655 $3,842 4.42%
    $150k-250k 50 $6,800,000 $136,000 $2,692 4.32%
    $50k or less 33 $2,355,000 $71,364 $3,327 3.78%
    $250k+ 27 $7,275,000 $269,444 $4,218 3.56%

    Sunstate Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 66 originations. The second most popular income band? $100k-150k, with 64 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 56 $5,520,000 $98,571 $2,765 4.30%
    20-30% 51 $6,395,000 $125,392 $3,078 3.91%
    <20% 28 $3,760,000 $134,286 $3,718 3.85%
    42% 23 $1,515,000 $65,870 $1,511 4.38%
    41% 20 $1,700,000 $85,000 $4,126 4.53%
    37% 20 $2,190,000 $109,500 $3,614 4.65%
    43% 18 $1,870,000 $103,889 $4,832 5.11%
    38% 15 $1,535,000 $102,333 $4,522 3.56%
    36% 15 $1,515,000 $101,000 $2,780 5.04%
    40% 13 $1,235,000 $95,000 $0 4.75%
    39% 10 $1,230,000 $123,000 $3,084 2.47%
    44% 5 $805,000 $161,000 $2,630 3.49%
    45% 3 $425,000 $141,667 $3,014 5.46%
    49% 1 $105,000 $105,000 $2,898 5.00%

    Sunstate Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 56 originations. The next most common DTI ratio? 20-30%, with 51 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 242 $28,220,000 $116,612 $3,266 4.37%
    Not applicable 9 $19,265,000 $2,140,556 $0 4.02%
    Not provided 31 $3,285,000 $105,968 $2,887 4.18%
    Black 13 $1,315,000 $101,154 $3,657 3.91%
    Asian 5 $395,000 $79,000 $0 4.29%
    Asian Indian 1 $105,000 $105,000 $0 2.99%
    American Indian 1 $55,000 $55,000 $0 7.00%

    Approval Rates

    Total approvals of all applications
    73.26%

    Sunstate Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    74.17%

    Sunstate Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 302 $52,640,000 $174,305

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    302 $52,640,000 $174,305

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 97 $10,405,000 $107,268 $2,542 4.38%
    40-60% 33 $22,095,000 $669,545 $3,430 3.96%
    60-80% 33 $8,515,000 $258,030 $3,922 4.22%
    80-100% 8 $2,060,000 $257,500 $3,768 4.05%
    Under 20% 116 $5,990,000 $51,638 $1,428 4.20%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    SUN WEST MORTGAGE COMPANY, INC. Reverse mortgage Trouble during payment process 1 100.0%