Sunbelt Federal Credit Union Mortgage Rates, Fees & Info
Hattiesburg, MSLEI: 549300167EZ5P8B06R34
Tax ID: 64-0330253
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Mortgage Data
Review & Overview
Sunbelt Federal Credit Union is a smaller credit union specializing in Cash Out Refi loans. Sunbelt Federal Credit Union has a high proportion of conventional loans.Sunbelt 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 5.25% | 11/22/24 |
| 30 Year Conventional Refi | 6.27% | 11/22/24 |
| 30 Year Cash-out Refi | 6.27% | 11/22/24 |
| 30 Year FHA Purchase | 6.27% | 11/22/24 |
| 30 Year USDA Purchase | 7.56% | 11/22/24 |
| 15 Year Conventional Purchase | 8.53% | 11/22/24 |
| 15 Year Conventional Refi | 5.68% | 11/22/24 |
| 15 Year Cash-out Refi | 5.68% | 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. | ||
Sunbelt 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
41Origination Dollar Volume (All Markets)
$2,455,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 41 | $2,455,000 | $59,878 | $0 | 6.33% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 40 | $2,380,000 | $59,500 | $0 | 6.33% |
| HELOC | 1 | $75,000 | $75,000 | n/a | 6.50% |
For 2018, Sunbelt Federal Credit Union's most frequently originated type of loan was Conventional, with 40 originations. Their 2nd most popular type was HELOC, with 1 originations.
Loan Reason
For 2018, Sunbelt Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 32 originations. The 2nd most popular reason was Home Purchase, with 7 originations.
Loan Duration/Length
For 2018, Sunbelt Federal Credit Union's most frequently cited loan duration was 15 Year, with 28 originations. The 2nd most popular length was 20 Year, with 5 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 19 | $875,000 | $46,053 |
| $1k-2k | 17 | $1,335,000 | $78,529 |
Sunbelt 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 19 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 20 | $1,150,000 | $57,500 |
| 4-5% | 8 | $360,000 | $45,000 |
| 5-6% | 7 | $425,000 | $60,714 |
| 7-8% | 5 | $485,000 | $97,000 |
| Over 8% | 1 | $35,000 | $35,000 |
During 2018, Sunbelt 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 20 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 38 | $2,070,000 | $54,474 | $0 | 6.24% |
| $100k-200k | 3 | $385,000 | $128,333 | $0 | 7.50% |
2018 saw Sunbelt Federal Credit Union place emphasis on $100,000 or less loans with 38 originations, totaling $2,070,000 in origination value.
Applicant Income
Sunbelt Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 22 originations. The second most popular income band? $50k-75k, with 11 originations.
Applicant Debt to Income Ratio
Sunbelt Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 10 originations. The next most common DTI ratio? 30-36%, with 10 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 23 | $1,325,000 | $57,609 | $0 | 6.35% |
| Black | 18 | $1,130,000 | $62,778 | $0 | 6.31% |
Approval Rates
Total approvals of all applications80.16%
Sunbelt Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination-19.51%
Sunbelt 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 |
|---|---|---|---|
| 1115.5 | 1 | $25,000 | $25,000 |
| 1294.0 | 1 | $25,000 | $25,000 |
| 1309.21 | 1 | $45,000 | $45,000 |
| 1355.5 | 1 | $45,000 | $45,000 |
| 1475.5 | 1 | $55,000 | $55,000 |
| 1485.5 | 1 | $65,000 | $65,000 |
| 1900.06 | 1 | $35,000 | $35,000 |
| 2384.5 | 1 | $65,000 | $65,000 |
| 2390.7 | 1 | $85,000 | $85,000 |
| 2423.5 | 1 | $35,000 | $35,000 |
| 2442.68 | 1 | $75,000 | $75,000 |
| 2457.82 | 1 | $35,000 | $35,000 |
| 2648.5 | 1 | $65,000 | $65,000 |
| 2659.5 | 1 | $65,000 | $65,000 |
| 2706.5 | 1 | $95,000 | $95,000 |
| 2715.8 | 1 | $35,000 | $35,000 |
| 2718.7 | 1 | $35,000 | $35,000 |
| 2727.35 | 1 | $65,000 | $65,000 |
| 2816.5 | 1 | $55,000 | $55,000 |
| 2817.5 | 1 | $55,000 | $55,000 |
| 2913.5 | 1 | $75,000 | $75,000 |
| 3148.5 | 1 | $35,000 | $35,000 |
| 3276.09 | 1 | $35,000 | $35,000 |
| 3323.75 | 1 | $95,000 | $95,000 |
| 3364.02 | 1 | $35,000 | $35,000 |
| 3417.5 | 1 | $65,000 | $65,000 |
| 3678.5 | 1 | $145,000 | $145,000 |
| 3683.5 | 1 | $105,000 | $105,000 |
| 3759.5 | 1 | $55,000 | $55,000 |
| 3872.5 | 1 | $85,000 | $85,000 |
| 4068.5 | 1 | $45,000 | $45,000 |
| 4492.84 | 1 | $65,000 | $65,000 |
| 4758.68 | 1 | $65,000 | $65,000 |
| 5035.5 | 1 | $65,000 | $65,000 |
| 5658.5 | 1 | $25,000 | $25,000 |
| 7515.56 | 1 | $85,000 | $85,000 |
| 8155.71 | 1 | $135,000 | $135,000 |
| NA | 4 | $180,000 | $45,000 |